1. The defendant is a building in accordance with the building permit stated in the attached Table on the ground of 2331-10 square meters which is linked to Jeju City, 725 square meters.

1. Facts of recognition;

A. On March 24, 2014, the Plaintiff, an owner of approximately 2331-10 square meters (hereinafter “instant land”) between Jeju and Jeju, sold the instant land in KRW 3 billion to the Defendant (former trade name: Green Holdings Co., Ltd.) on the purchase price of KRW 3 billion.

(hereinafter “instant sales contract”). The contents of the instant sales contract relating to the instant case are as follows.

Terms and conditions of a contract, 3 billion won, 66 million won

Won.The remainder amount of KRW 3.7 billion is KRW 2.7 billion at the time of the contract, the remainder amount of KRW 2.75 billion at the time of the contract shall be paid on April 24, 2014.

1. Any balance after a contract is concluded shall be the period of authorization and permission (30 days), and it shall not exceed 15 days even if the period of authorization and permission is delayed;

2. The down payment will be waived unless any balance is paid during the above period.

B. Since the Defendant purchased the instant land and newly built a hotel on the ground, the Plaintiff received a down payment of KRW 37 billion to the Defendant and prepared a written consent to the use of the instant land on March 25, 2014.

On April 24, 2014, the Defendant obtained a building permit indicated in the attached Table that the Defendant as the owner of the building (hereinafter “instant building permit”) from the Jeju Mayor on April 24, 2014 using the written consent for land use.

C. Upon receiving the instant construction permit, the Defendant requested the extension of the remainder payment period on May 16, 2014 without paying the remainder, and the Plaintiff notified the Defendant of May 14, 2014, that “The instant sales contract shall be rescinded, if the remainder payment period is extended by May 16, 2014 upon the Defendant’s request.”

On May 16, 2014, the Defendant did not pay any balance to the Plaintiff and requested the extension of the payment deadline by May 23, 2014. However, on May 22, 2015, the Defendant again requested the extension of the payment deadline by June 6, 2014.

Accordingly, on June 5, 2014, the Plaintiff rendered the Defendant June 9, 2014.