1. The plaintiff's claim is dismissed.

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

On May 16, 2013, the instant construction contract for private construction works (hereinafter referred to as “instant contract”) was concluded with the Plaintiff, setting the construction period from May 27, 2013 to December 31, 2013, and the construction cost as KRW 4,133,800,000 (including surtax; hereinafter the same shall apply) as the construction period from May 27, 2013 to December 31, 2013.

Article 5 [Deposit for Contract] of the General Conditions of the Construction Contract for Private Construction Works (1) Masc Loans shall pay to the Plaintiff, in cash, etc. before the conclusion of the contract, the contract bond as stipulated in the contract

Provided, That this shall not apply where the contract deposit is agreed not to be paid by the agreement between the plaintiff and Manae.

(2) A contract bond under paragraph (1) may be paid by a letter of guarantee issued by the following institutions:

1. A guarantee issued by each mutual-aid association under Article 54 (1) of the Framework Act on the Construction Industry [Disposition of Contract Bond] (1) In the event that a contract is rescinded or terminated on any ground provided for in the subparagraphs of Article 31 (1), the contract bond paid under Article 4 shall revert to the plaintiff;

In such cases, where the amount of compensation for damage following the cancellation or termination of a contract exceeds the contract deposit, it may be claimed as compensation for the excess amount.

Article 32 [Cancellation, etc. of Contracts by the plaintiff] (1) In cases falling under any of the following subparagraphs, the plaintiff may cancel or terminate all or part of the contract:

1. Where he/she has failed to commence construction even after the date of commencement agreed upon without any justifiable reason;

2. Where it is evident that her construction work is not likely to be completed within the completion date due to any cause attributable to her responsibility;

4. Other cases where it is deemed impossible to achieve the purpose of the contract due to the violation of the contract terms and conditions.