1. The plaintiff's claim is dismissed.

2. The costs of lawsuit shall be borne by the Plaintiff.

Basic Facts

On November 29, 2006, the Defendant concluded a guarantee contract for the sale of housing [the amount of guarantee: 367,463,800,000 won, guarantee period: from the approval date of the public announcement of the invitation of occupants to the date of registration of ownership preservation; hereinafter the same shall apply] with respect to the Handong Construction Co., Ltd. (hereinafter referred to as the “Co., Ltd.”).

The main contents of the terms and conditions of the instant guarantee agreement (hereinafter “instant terms and conditions”) are as follows.

Article 1 of the Terms and Conditions of this case (Definitions)

1. The term “guaranteed Company” refers to the Defendant.

2. The term “principal debtor” means the project undertaker as described in the letter of guarantee.

3. The term “guaranteed creditor” means a person who has concluded a sales contract with a primary debtor (including the transferee of a right of sale) in compliance with the Housing Act and subordinate statutes and the Rules on Housing Supply for the projects listed in a written guarantee.

4. The term "guarantee incident" means a situation in which it is difficult to expect the principal debtor to enter into a normal housing unit sale contract under social norms due to any of the following causes within the guarantee period:

Where a primary debtor becomes unable to perform a sales contract due to a guarantee accident pursuant to Article 21 (1) 1 (a) of the Enforcement Decree of the Housing and Urban Fund Act, the Guarantee Company of Article 3 (Contents of Guarantee Obligations) shall assume the responsibility for the performance of sale of the relevant house (the completion of occupancy after construction in accordance with the housing construction standards prescribed by the Housing Ordinance, the approval of the business plan of the relevant workplace, the design drawings, etc.) or the performance of refund (the refund of the paid down payment

Article 4 (Payment of Obligations which are not Subject to Guarantee and Remaining Occupancy Charges, etc.) (1) Where a guarantee company falls under any of the following cases, the guarantee company shall not perform the guarantee obligation to the guarantee creditor: