1. The defendant's appeal is dismissed.

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

Purport of claim and appeal

purport:

(b) the facts of the basis;

A. On September 6, 2013, the Plaintiff concluded a construction contract with the Defendant to contract B (hereinafter “instant construction contract”) on the following terms (hereinafter “instant construction contract”).

* Contract amount: 1,599,881,780 won * Deadline for completion: December 20, 2013 * Rate of liquidated damages for delay : 0.1% of the contract amount

B. When the Defendant was unable to complete the instant construction work within the deadline for completion due to the delay in the procedure following the revenue from the hydroelectric power plant, it requested the Plaintiff to modify the instant construction contract terms.

Accordingly, on January 2, 2014, the Plaintiff and the Defendant concluded a modified contract (hereinafter “instant modified contract”) as follows.

* Contract amount: KRW 1,647,88,00 (the revised design amount to KRW 48,006,220)* Deadline for completion: Jan. 20, 2014 * Conditions under which the contractor for the penalty for delay shall be liable to pay the contractor for the penalty for delay, as soon as completion is completed in advance.

C. On January 29, 2014, the Defendant completed the instant construction work after the completion date.

On March 3, 2014, the Plaintiff calculated the penalty for delay as KRW 21,578,480 on the part of the Defendant for delay in the instant construction project (i.e., KRW 20,798,463 for delay compensation for nine days before the instant change contract, and paid the remainder after deducting the penalty from the penalty for delay compensation for nine days after the date of the instant change contract.

However, compensation for delay for the number of days of delay nine days after the instant change contract (from January 21, 2014 to January 29, 2014) should be calculated not as KRW 780,020, but as KRW 14,830,90 (i.e., contract amount of KRW 1,647,88,000 x the number of delayed days x 9 days x 0.1%).

This did not apply the rate of compensation for delay to the contract amount of KRW 1,647,88,00, but applied the rate of compensation for delay to KRW 86,391,00 in the unpaid construction cost.

E. On October 12, 2017, the Plaintiff should additionally pay the unpaid liquidated damages (=14,050,970,970,000,000,000) until October 31, 2017, where he/she notified the Defendant that the liquidated damages for delay had been calculated initially.