The judgment of the court below is reversed, and the case is remanded to the Changwon District Court Panel Division.

The grounds of appeal are examined.

1. Where an agreement for transfer of a security to transfer other property rights as a security for an existing obligation has been reached, if a creditor transfers such property rights to a third party for the repayment of an obligation to a third party who is his/her creditor and requires the third party to prepare a sales contract in the name of the third party, the creditor may be deemed to transfer the right to the security agreement along with the debtor's claim to a third party, and it is reasonable to view that the debtor has consented by preparing a sales contract with a third party, barring any special circumstances.

(see, e.g., Supreme Court Decisions 2006Da79254, May 29, 2008; 2012Da70562, Nov. 29, 2012). Moreover, in cases where a provisional disposition obligee transfers a right to claim the transfer of ownership by means of a security transfer agreement, the preserved right, to a third party, and obtains an obligor’s consent, a third party may assert, on his/her own behalf, the preservation interest by the provisional disposition even if the execution clause is not granted after the provisional disposition execution clause has been executed as a successor to the provisional disposition obligee (see, e.g., Supreme Court Decision 92Da33251, Jul. 13, 1993). The provisional disposition obligee who lost the preserved right by such transfer cannot use it for the preservation of the right to receive the provisional disposition and other rights.

2. Review of the reasoning of the first instance judgment partially admitted by the lower court, the evidence duly admitted and the record reveals the following facts.

(1) Defendant Co., Ltd., Exemplary Construction Co., Ltd. (the name at that time, hereinafter “Defendant Frania”) is awarded a contract for construction cost of KRW 5.26 billion for the new construction work of New Housing Co., Ltd., Ltd., Ltd., Ltd. (hereinafter “New Housing”) on November 30, 2006, and KRW 5.26 billion for the construction cost of New Housing Co., Ltd., Ltd. (hereinafter “New Housing”), and some of the construction work is awarded on January 29, 2007.