1. The judgment of the court of first instance, including the Defendant-Counterclaim Claim expanded from the trial, is as follows.

1. Common factual relations;

A. On December 21, 2015, the Plaintiff entered into a contract with the Defendant’s agent E to purchase C(24 tons) vessels owned by the Defendant (hereinafter “instant vessel”) with the following terms:

(hereinafter “instant sales contract”). With respect to the sale of the instant vessel, Article 1 (Purpose), the seller and the buyer, by agreement, shall pay the sales amount as follows:

Sales amount: 70,000,000 won.

Down payment: Amount paid and received at the time of contract at KRW 30,000. The intermediate payment:20,000,000 won by December 29, 2015, and the balance shall be paid at KRW 540,00,000 until the completion of the licence.

Article 5 (Termination of Contract) If the buyer delays or fails to pay the intermediate payment and the balance, the seller may terminate the contract immediately, and the buyer may not raise any civil or criminal objection against it even if the seller voluntarily recovers the ship, and the buyer shall waive the down payment and the intermediate payment, and shall revert to the seller.

Article 6 (Cancellation of Contract) If the buyer does not pay the intermediate payment (if there is no intermediate payment), the seller shall reimburse the sum of the down payment, and the buyer may waive the down payment and rescind this contract.

Special agreement issues: Offshore fishing, inshore fishing, and three remaining vessels for inshore fishing shall be deposited in full at the time when the permit is completed.

B. After the conclusion of the instant sales contract, the Plaintiff brought the instant vessel into the transit for inspection, repair, etc. of vessel engines, and deposited KRW 20 million as down payment and partial intermediate payment to the Defendant on December 30, 2015, and KRW 100 million on January 22, 2016 in the name of each Defendant’s account (Account Number:K).

C. Meanwhile, upon E’s request, the Plaintiff deposited KRW 5 million to F, G account, KRW 4 million on February 15, 2016, as H account, and KRW 1 million on March 4, 2016 to E account.

The defendant shall file an objection on January 14, 2016.