1. The Plaintiff (Counterclaim Defendant) shall pay 50,000,000 won to the Defendant (Counterclaim Plaintiff) and its payment from August 26, 2014.

1. Facts of recognition;

A. On November 22, 2013, the Plaintiff entered into a contract with the Defendant to sell 1,388 square meters of C forest land (hereinafter “instant real estate”) in Yangju-si owned by the Plaintiff (hereinafter “instant sales contract”). The main contents of the instant sales contract are as follows.

(1) The purchase price shall be KRW 120 million, and the defendant shall pay the down payment of KRW 12 million on the date of the contract, the intermediate payment of KRW 50 million on the date of the contract, and the remainder of KRW 58 million on the date of December 9, 2013, and until January 10, 2014, respectively.

(2) Upon receiving any balance from the Defendant, the Plaintiff shall deliver to the Defendant all necessary documents for the registration of transfer of ownership, and cooperate with the registration procedure.

(3) If the plaintiff or defendant fails to perform the contractual terms, the other party may notify in writing the person who has failed to perform the contractual terms and conditions and cancel the contract.

In addition, the parties to the contract may claim damages from the rescission of the contract to each other, and the down payment shall be considered as the basis for compensation for damages, unless otherwise agreed (Article 6).

According to the instant sales contract, the Defendant paid to the Plaintiff the down payment of KRW 12 million on the day of the contract, and KRW 50 million on or around December 9, 2013, respectively, and the Plaintiff cancelled all the registration of establishment of a neighboring real estate established on or around December 24, 2013.

C. On January 29, 2014, the Plaintiff urged the Defendant to pay the remainder and interest at the rate of 10% until February 10, 2014 when the Defendant did not pay the remainder even after the due date for the payment of the remainder, and if the Defendant delays such payment, the Plaintiff would cancel the instant sales contract.

D. On February 20, 2014, the Defendant notified the Plaintiff of the purport that “if adjustment is not possible while demanding a reduction adjustment of the purchase price,” without paying any balance following the Plaintiff’s notification, the instant sales contract is concluded.