The Defendants jointly share KRW 50,000,000 with respect to the Plaintiff and 12% per annum from February 29, 2020 to the date of full payment.

1. Basic facts

A. The Plaintiff is a company that aims at real estate development business, and Defendant B (hereinafter “Defendant B”) is a company that aims at the construction business, and Defendant C is an auditor of Defendant B.

B. On June 1, 2019, the Plaintiff entered into a contract with Defendant B for the civil works on the creation of housing sites (hereinafter “instant construction contract”) with respect to the land of 10,458 square meters (hereinafter “instant land”) as follows with respect to the forest land D, Young-gun, Chungcheongnam-gu, Seoul Special Metropolitan City (hereinafter “instant land”).

Defendant B promised to deliver the instant land to the Plaintiff by receiving a contract for civil engineering works from the Plaintiff, and completing them in accordance with the design and specifications, and the Plaintiff promised to pay the construction cost as prescribed in paragraph (2).

The remuneration shall be KRW 1 billion, and the plaintiff shall be paid to the defendant B in installments according to the following specifications:

1) The down payment shall be paid KRW 500 million at the same time with the commencement of civil works ( June 1, 2019).

2) The balance shall undergo a completion inspection after the completion of the construction and, at the same time, shall be paid with priority in selling housing sites, and the civil engineering cost shall be paid with priority in banking loans.

3. Defendant B, by June 1, 2019, started civil engineering works and completed them until September 30, 2019, shall deliver them to the Plaintiff.

(c)

On June 26, 2019, the Plaintiff paid the down payment of KRW 500 million to Defendant B, and Defendant B paid KRW 450 million to the Plaintiff on the same day.

(d)

On December 16, 2019, the Plaintiff prepared a written consent to reverse the construction works to create a housing site, stating that “The instant construction contract between the Plaintiff and the Defendant B shall be rescinded as a gold day according to the circumstances of the parties, and the parties agree thereto, and the contract shall be reversed.”

[Ground of recognition] Defendant B: The purport of the whole of the statements and arguments in Gap evidence Nos. 1 through 6: Defendant C: deemed confession (Article 150(3) of the Civil Procedure Act)

2. Determination as to the cause of claim

A. According to the specific facts of the above judgment, the actual facts of Defendant B and Defendant B are as follows.