1. The Defendant (Counterclaim Plaintiff) and the Defendants: (a) each Plaintiff KRW 1,66,594,947; and (b) from November 24, 201 to February 2014.

A. On August 2009, the Plaintiff and Daeyang Construction Co., Ltd. were selected as a contractor for responding to the said bidding.

On August 31, 2009, the Plaintiff and Daeyang Construction Co., Ltd. concluded a new construction contract with the Defendant (Counterclaim Plaintiff) for the primary elementary school (hereinafter “instant elementary school”) as follows (hereinafter “instant contract”).

【Standard Contract for Private Construction Works】

1. Name of the Corporation: (tentative name) a new construction corporation of two elementary schools;

3. Date of commencement: The date scheduled for completion on September 4, 2009: 1,475,100,000 won: the contract amount on June 30, 2010: 11,341,00,000 won: 1,134,100,000 won.

9. Defect warranty rate: 5% of the contract amount (which may be replaced with a defect performance bond): 11. Application mutatis mutandis of the warranty period of the Enforcement Decree of the Framework Act on the Construction Industry; 11. Application mutatis mutandis of the warranty period of the Framework Act on the Construction Industry: 1/1,00 (number of delayed days*1/1,000* Contract amount) / [general conditions of private construction works] Article 3 (Contract Documents) shall be composed of contract documents of private construction works, contract documents of private construction works, general conditions of private construction contracts, contract contracts, special conditions of construction contracts, design and calculation sheets

Article 9 (Period of Commencement and Completion) The date of commencement and completion of construction shall be the date specified in the contract.

The date of completion shall be the time when the contractor and the competent Office of Education approve the completion inspection after completing the construction work and requesting the contractor to undergo the completion inspection in writing.

Provided, That this shall be limited to the cases of passing a completion inspection under Article 21.

Where the performance of construction works is delayed due to reasons not attributable to the contractor, such as a natural disaster, force majeure, imbalance in the supply and demand of raw materials, etc., which are liable to the contractor, the contractor may request in writing the contractor to extend the period of construction.