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1. The plaintiff's claim is dismissed.
2. The costs of lawsuit shall be borne by the Plaintiff.
Reasons
1. Basic facts
A. On April 21, 2016, the Plaintiff entered into a sales contract for the first sale of shares of C Co., Ltd. (hereinafter “instant shares”) with the Defendant for KRW 3,010,687,50 ( KRW 7,379.136 per share) (hereinafter “instant shares”) and concluded a sales contract for the purchase of KRW 3,010,687,500 per share; and KRW 300,000 for down payment was to pay KRW 2,710,687,50 on May 20, 2016, the Plaintiff paid the Defendant the down payment of KRW 300,000 on April 21, 2016.
B. Around May 2016, the Plaintiff and the Defendant concluded a share sales contract with the purport that the purchase price for the instant shares shall be increased to KRW 3,100,468,750 per share ( KRW 7,599.188 per share) and that the remainder KRW 2,800,468,750 shall be paid on July 1, 2016.
C. On July 1, 2016, the Plaintiff paid only 100,000,000 won out of the remainder amount of KRW 2,800,468,750 under the second share purchase and sale contract.
Then, on August 12, 2016, the Plaintiff notified the Defendant of the receipt of the balance and the performance of the share transfer procedure, but the Defendant notified the Plaintiff that the share purchase contract was cancelled on or before August 17, 2016.
On August 2016, the Plaintiff and the Defendant concluded a share sales contract with a view to raising the sales price of the instant shares to KRW 3,190,250,000 per share ( KRW 7,819.24 per share) on the instant shares to KRW 400,000,000, which was already paid, in lieu of the down payment, in lieu of the down payment, and the balance to KRW 2,790,250,000, which shall be paid on September 20, 2016.
Article 5 (Cancellation of Contracts and Compensation for Damages) of the said Stock Sales Contract provides that “If the buyer fails to pay the full purchase price to the seller by the due date for the payment of the purchase price of the stock, this contract shall be automatically revoked, and the down payment shall be attributed to the seller and the buyer shall compensate for the damage to the seller immediately.