1. The defendant's appeal is dismissed.

2. The costs of appeal shall be borne by the Defendant.

Purport of claim and appeal

1...

1. Basic facts

A. On January 21, 2015, the Defendant completed the registration of ownership transfer with respect to the fifth floor of the 5th floor of the building in Busan Dongdong-gu, Busan (hereinafter “instant building”). On September 8, 2015, the Defendant concluded a real estate security trust agreement (hereinafter “instant security trust agreement”) with the truster with respect to the instant building by designating the truster, the said company, the trustee, and the first priority beneficiary as the gravel credit cooperative, and completed the registration of ownership transfer based on trust in the future of the said company on the same day.

The relevant provisions of the instant security trust agreement are as follows.

Article 9 (Preservation, Management, etc. of Trusted Real Estate) (2) No truster shall reduce the value of trusted real estate by means of establishing rights, such as lease, or changing the current state of trusted real estate, without the prior consent of the trustee.

Article 10 (Lease, etc.) (2) After this trust contract is concluded, a new lease or sub-lease contract shall be concluded in the name of the trustee or under the name of the truster on condition of the prior consent of the trustee, but the lease deposit shall be deposited

Provided, That where the first beneficiary has a reason to return the deposit to the lessee due to the expiration of the lease period, realization of the object of trust, etc., the claim of the first beneficiary may be repaid with the deposit only when the first beneficiary agrees to pay the deposit to the lessee in preference to the first beneficiary.

B. On August 31, 2017, the Defendant entered into a lease agreement between the Plaintiff and the Plaintiff under which the Defendant agreed to lease the instant building with the term of KRW 100 million (hereinafter “instant lease agreement”) from September 15, 2017 to September 14, 2019, and the down payment of KRW 10 million out of the lease deposit shall be paid to the Plaintiff on September 15, 2017.