1. The part of the judgment of the court of first instance against the plaintiff, which orders payment below, shall be revoked.

The defendant.

1. Basic facts

A. C borrowed KRW 154,500,000 from the Defendant on July 14, 2016 at the maturity of 2.3% on August 13, 2016, with interest rate of 2.3% on and from August 13, 2016. As of June 5, 2017, C’s obligation to repay the principal and interest on the Defendant’s loan amount of KRW 192,647,976 (i.e., principal amount of KRW 154,50,000).

B. On July 14, 2016, C completed the provisional registration of the right to claim ownership transfer on July 13, 2016 regarding each of the real estate listed in the separate sheet (hereinafter “instant real estate”) owned by the Defendant (hereinafter “instant real estate”) to secure the Defendant’s above claim.

C. On March 12, 2015, the establishment registration of a neighboring mortgage was completed with respect to the instant real estate as creditors D, debtor C, and maximum debt amount of KRW 828,00,00 (the principal of the secured debt is KRW 690,000), and on February 16, 2016, the attachment registration was completed under the name of the Republic of Korea. However, on July 13, 2016, the delinquent tax amount was KRW 51,641,290.

In addition, E leased the instant real estate from C in KRW 30,00,000, and made a move-in report and business registration on March 201, 201, and F leased the instant real estate from C in KRW 150,000,000 from February 2, 2015, and used it as a commercial after completing business registration on August 4, 2015.

E. After that, on June 5, 2017, the Defendant completed the principal registration based on the provisional registration of ownership transfer claim (hereinafter “instant ownership transfer registration”) on the grounds of sale and purchase of the instant real estate, and completed the registration of ownership transfer on September 22, 2017 after selling the instant real estate to J Co., Ltd. for purchase price of KRW 1,100,000,000.

F. Meanwhile, on June 12, 2017, upon completion of the principal registration, the Defendant: (a) repaid KRW 709,506,917, such as the secured debt amount of the said right to collateral security to D Co., Ltd.; and (b) revoked the registration of the establishment of the collateral security; and (c) paid KRW 79,422,330,00 of the delinquent tax on the instant real property

G. Meanwhile, the Plaintiff on July 12, 2017, with C as of July 12, 2017.