1. The plaintiff's appeal is dismissed.

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

Purport of claim and appeal

1...

1. Basic facts

A. On April 1, 2014, the Plaintiff entered into a sales contract with the Defendant to purchase the building constructed on the Dong-gu, Ulsan-gu, Seoul (hereinafter “instant land”) and its ground (hereinafter “instant building”) for KRW 670 million,000,000,000,000 for the contract date, the remainder of KRW 50,000,000,000 on April 2, 2014; the intermediate payment of KRW 190,000,000 on May 20, 2014; and the remainder of KRW 420,000,000,000,00 for each payment on July 31, 2014 (hereinafter “instant sales contract”).

B. The terms and conditions of the instant sales contract are as follows.

Matters of special agreement

1. After confirming the site (in the course of construction) and the public register, this contract is concluded. 2. Land shall be transferred in the form of registration of “transfer of ownership”, and the form of registration of “Preservation of Ownership”.

3.A down payment of KRW 10 million, out of the down payment of KRW 60 million, shall be paid at the time of the contract and the remainder of KRW 5 million shall be paid by the date of order.

4. The balance date may be adjusted according to the construction schedule and shall be paid within one month after completion.

5. The seller agrees to the name of the buyer before the intermediate payment is made to the person designated by the buyer;

C. On April 1, 2014, the Plaintiff paid the Defendant KRW 10 million out of the down payment of KRW 60 million, and the remaining down payment of KRW 50 million on April 2, 2014. On May 20, 2014, the Plaintiff paid KRW 40 million out of the intermediate payment of KRW 190 million.

At the time of the instant sales contract, the Plaintiff agreed that the Defendant and the down payment amount of KRW 60 million shall be the estimated amount of damages for nonperformance.

(Article 6. E)

On October 1, 2014, the Defendant notified the Plaintiff of the content certification that “If the intermediate payment and the balance are paid by October 10, 2014, and the ownership is transferred, the instant sales contract will be cancelled on the Plaintiff’s responsibility without any separate notice.” The Plaintiff notified the Defendant on October 28, 2014.