1. On March 28, 2014, the Defendant entered into an agreement on the establishment of a right to collateral security on each real estate stated in the attached list to the Plaintiff.

1. Basic facts

A. The Plaintiff acquired the E’s right of retention and F’s right of retention in the voluntary auction procedure for each real estate listed in the attached list (hereinafter “real estate 1”) and for each forest land of 9,148 square meters (hereinafter “second real estate”) located in Gyeonggi-gu, Gyeonggi-do (hereinafter “second real estate”), and completed the report on the transfer of lien to an auction court on February 20, 2014.

B. On February 19, 2014, the Defendant awarded a successful bid for each of the instant real estate, and requested the Plaintiff to waive the right of retention in order to obtain a loan as collateral and pay the successful bid price. On March 28, 2014, the Defendant agreed to set up the right of collateral worth KRW 300 million with respect to each of the instant real estate, instead of giving up the right of retention between the Plaintiff and the Plaintiff (hereinafter “instant agreement”).

Accordingly, the Plaintiff issued a letter of waiver of the right of retention to the Defendant (hereinafter “instant letter of waiver of the right of retention”) stating that “The Plaintiff agreed to receive KRW 300 million of the reported amount of the right of retention and waive the right of retention,” and issued from the Defendant a letter of commitment that “after the payment of the remainder of the right of retention, the Plaintiff established the right of collateral security of KRW 300 million to the Plaintiff” (hereinafter “instant letter of commitment”).

C. On April 11, 2014, the Defendant: (a) obtained a loan from the Gyeyang Livestock Cooperatives (hereinafter “Mayang Livestock Cooperatives”); and (b) completed the registration of ownership transfer under the Defendant’s name with respect to each of the instant real estate; and (c) simultaneously set up a right to collateral security with a maximum debt amount of KRW 1.287 billion to the Yangyang Livestock Cooperatives with respect to each of the instant real estate at the same date.

However, the Plaintiff did not set up a right to collateral security based on the instant agreement, and only 60 million won was paid on June 10, 2015.

[Reasons for Recognition] Facts without dispute, Gap 1 through 6, 8, 13, and 14 each entry (including provisional number; hereinafter the same shall apply) and the purport of the whole pleadings.