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. Determination as to the cause of claim

(a)Any of the following facts may be admitted, either in dispute between the parties or in full view of the respective entries in Gap evidence 1 to 4 (including paper numbers) and the whole purport of the pleadings:

1) On April 9, 2014, the Plaintiff (the People’s Republic of China) and the Defendant: (a) concluded with the Defendant on April 9, 2014, C Recreation L108 Dong 202, the Defendant newly constructed in Jeju City B (hereinafter “instant condominiums”); (b) concluded that the entire condominiums, including the foregoing condominiums, were collectively “the instant condominiums”; and (c) purchased by the Plaintiff as the part

2) The sales contract of this case provides that the sales contract of this case shall be 615,00,000 won (hereinafter “instant contract”).

(2) The first intermediate payment: 184,500,000 won (payment before August 9, 2014): 184,500,000 won (payment before August 9, 2014). The second intermediate payment: 184,500,000 won (payment before December 9, 2014): The remainder: 123,000,000 won (payment before December 9, 2014): The scheduled date of completion of the contract for sale on March 31, 2015 (payment within one month after completion): The scheduled date of use on March 31, 2015;

b. If the defendant intends to maintain the contract of this case, the plaintiff shall pay 0.06% of the sales price payable per day to the defendant as penalty.

In addition, if the Defendant delays the delivery of the instant section for exclusive use (Article 6): ① If the delay period does not exceed 60 days, the Defendant pays 0.05% of the amount received from the Plaintiff per day to the Plaintiff as a penalty, and the instant contract remains in existence.