1. The defendant's appeal is dismissed.

2. The costs of appeal shall be borne by the Defendant.

The purport of the claim and the purport of the appeal.

(b) the facts of the basis;

A. On October 22, 2008, the Plaintiff entered into a real estate sales contract with the Defendant for the purchase price of KRW 553,500,000 with respect to the real estate listed in the separate sheet (hereinafter “instant land”).

The main contents thereof are as follows:

Article 1 (Purpose of Contract) of the Real Estate Sale Contract (Purpose of Contract) The purpose of this Agreement is to enable the Defendant to carry out a golf course development project by purchasing the instant land from the Plaintiff, and this Agreement is to fully recognize the seller and the purchaser, and to set forth all mutual rights and obligations.

Article 4 (Methods of Payment for Price) The down payment shall be made at the time of the completion of the contract at least 85% of the site for the non-business of KRW 55,350,000,000 for each payment of KRW 55,350,000 for each payment of KRW 498,150,000 for non-business. ① The Defendant shall pay the purchase price to the Plaintiff as follows:

* The remaining balance shall be within 30 days from the date of approval for the project.

(2) Method of paying the contract amount and validity of the contract.

3. When the defendant completes a contract at least 85% of the site for the project, he/she shall pay the down payment, designate a schedule for the intermediate payment and the balance at the same time as the down payment, and may pay it in a lump sum even before the fixed date.

Article 6 (Duties of Seller) (3) The Plaintiff may not establish a security right or a right for use and profit-making of the subject-matter of sale after the date of conclusion of this contract, or perform any other act restricting the exercise of ownership.

All taxes, public charges, and other charges incurred on an object to be purchased or sold under Article 7 shall be borne by the plaintiff as of the date of the balance and shall be borne by the defendant for the transfer of ownership on the basis of the date of the transfer of ownership. However, the obligation to pay local taxes and the obligation to pay local taxes shall be governed by the provisions of local tax

Article 8 (Consent to Land Use) After the conclusion of this Agreement, the Plaintiff consented to the entry, survey, and investigation for the Defendant’s business plan, and the competent authorities such as approval of the business plan.