1. The Defendant shall pay to the Plaintiff KRW 75,00,000 and the interest rate of KRW 15% per annum from January 25, 2018 to the day of complete payment.

1. Facts of recognition;

A. On December 19, 2016, the Plaintiff entered into a construction contract with the Defendant for a new construction of a multi-household house at Jeju (hereinafter “instant construction”) under which the contract amount is KRW 960,000,000 (excluding value-added tax), from January 1, 2017 to August 30, 2017; the contract amount is KRW 1/1000 of the contract amount for liquidated damages; and the interest rate for delayed payment is KRW 3/100 of the contract amount; and the Plaintiff entered into an agreement with the Defendant for a payment of KRW 350,00,000 of the contract amount in advance; and the remainder is to be paid as completed payment in accordance with the process. The terms and conditions of the standard contract for private construction works included as part of the said contract (hereinafter “general conditions of the said contract”) related to the instant case are as follows.

Article 24 (Partial Deposit) (1) If the contract specifies the completed portion, the defendant may request an inspection of the completed portion pursuant thereto. In such cases, the plaintiff shall conduct an inspection without delay and notify the defendant of the result thereof, and if no notification is made within 14 days, the inspection shall be deemed to have passed.

(2) The completed portion shall be calculated based on the unit price of the calculation sheet.

Provided, That where there is no calculation statement, it shall be calculated by agreement between the plaintiff and the defendant according to the progress rate of construction.

(3) The plaintiff shall pay the defendant the completed amount according to the inspected contents within 14 days from the date of completion of the inspection.

Article 30 (Compensation for Delay) (1) When the defendant fails to complete construction within the deadline for completion, he/she shall pay to the plaintiff the amount calculated by multiplying the contract price by the rate for liquidated damages in the contract (hereinafter referred to as "compensation for delay") for each number of days immediately

Provided, That where a completion inspection has been delayed due to a cause attributable to the plaintiff and where the construction has been delayed due to any of the following causes, the compensation for delay equivalent to the number of relevant days need not be paid:

1. Cases of force majeure:

2. It is important that the defendant can not be used as a substitute.