1. The Defendant: 100,849,315 won to the Plaintiff, and 5% per annum from January 1, 2019 to February 13, 2019.

Basic Facts

On April 16, 2017, the Plaintiff entered into a sales contract between the Plaintiff and the Defendant with the price of KRW 580 million, and entered into the sales contract on E (hereinafter “instant sales contract”) among D buildings to be constructed on the land located on the land located on the land located on the Kasan-si, Busan-si. According to Articles 2 and 3 of the instant sales contract, the Plaintiff may cancel the instant sales contract if it is impossible to move into within three months from December 31, 2017, which is the scheduled date of occupancy due to the Defendant’s fault, and in such case, the Defendant agreed to pay 10% of the total sale price to the Plaintiff as penalty.

(hereinafter “Matters stipulated in the instant special agreement”). The Do and the scheduled date of the Plaintiff’s payment of the sale price and the occupancy price, and the Plaintiff paid to the Defendant the total of KRW 230 million as the down payment on April 16, 2017, including KRW 70 million as the down payment, and KRW 160 million as the intermediate payment on May 15, 2017.

When the Plaintiff’s scheduled date of occupancy and the Plaintiff’s notification of the cancellation of the sale contract was no longer available until March 31, 2018 after three months from the scheduled date of completion of the sale contract, on June 29, 2018, the Plaintiff sent to the Defendant, in accordance with the instant special agreement, a certificate to the effect that: (a) the instant sale contract was cancelled; (b) the sale price paid KRW 230 million; and (c) the penalty equivalent to KRW 10 million; and (d) the compensation for delay equivalent to KRW 253 million (hereinafter “instant cancellation notification”); and (c) the above content certification reached the Defendant on July 2, 2018.

Agreements entered into between the Plaintiff and the Defendant

1. The Plaintiff and the Defendant decided to cancel the instant sales contract on November 7, 2018 on a conclusive basis.

2. As the instant supply contract was finally rescinded, the Defendant shall refund 200 million won, deducting the penalty that the Defendant shall pay to the Plaintiff by November 30, 2018, from the penalty that the Defendant shall pay to the Plaintiff by November 30, 201. If the Defendant violated the above payment period, the payment period shall be the same.