The defendant shall pay KRW 93,00,000 to the plaintiff as well as 20% per annum from September 4, 2015 to September 30, 2015 and the next day.

Facts of recognition

On May 10, 2013, the Defendant purchased real estate from Kudong Construction Co., Ltd. (hereinafter “ Kudong Construction”) and completed the registration of ownership transfer on June 13, 2013. At the time of the above sales contract, the Defendant decided to pay 300,000,000 won for the Plaintiff of Kudong Construction’s unpaid obligation to the Plaintiff of Kudong Construction.

On June 14, 2013, the instant real estate was transferred to an international trust company for the reason of trust. On May 14, 2014, the ownership transfer registration was completed on the same day with the name of Vienna Co., Ltd. (hereinafter “ Vienna”) on May 19, 2014.

On February 16, 2015, the Defendant: (a) agreed to pay KRW 350,000,000 as stated in the attached agreement (hereinafter “instant agreement”) with the Plaintiff as money or equity shares; (b) purchased the instant real estate site between Eone Star and concluded a joint agreement for the joint implementation of the relevant housing project; and (c) purchased the instant real estate in the name of the Defendant and made the registration for transfer of ownership under the name of Eone Star.

Accordingly, on February 17, 2015, the following day, the Defendant entered into a sales contract to purchase the instant real estate from Vienna for KRW 11,400,000,000, and paid the balance by March 13, 2015. On March 13, 2015, the sales contract was entered into on February 17, 2015, where the purchaser of the said sales contract was changed from the Defendant to Lone Star.

[The above sales contract shall include the obligation of each purchaser (the defendant, the plaintiff) to settle the settlement amount of KRW 300,000,000 against the plaintiff (the plaintiff of the Kukdong Construction).