1. The Defendant’s case was made on May 1, 2018 against the Plaintiff, Busan District Court Decision 2018Gaso539506.

1. Basic facts

A. The Plaintiff is an organization formed for the implementation of the new apartment construction project by using the Busan Geum-gu Won as the project site. Around November 18, 2017, the Defendant entered into an agreement for joining the association (hereinafter “instant joining agreement”) with the Plaintiff as the Plaintiff’s partner (hereinafter “instant joining agreement”).

B. On November 18, 2017, the Defendant paid KRW 21,175,00 to the Plaintiff (i.e., agency expenses of KRW 6,500,000, the first down payment of KRW 14,675,000, and hereinafter “the instant payment”).

안심보장제 보증서 ▣ 목적물: 부산 금정구 C 일원 (가칭)A지역주택조합 아파트 ▣ 보장내용

1. Objectives of applying for authorization to establish an association within 2017: Provided, That when an application is not filed for authorization to establish an association within March 2018;

2.The A regional housing association (tentatively named) shall, in the course of the selection of a contractor, ensure that it fully refunds the contributions of the union members and the agency expenses paid in the case of the above-mentioned items, provided that it has become a member contractor.

Provided, That termination due to the personal reasons and qualification requirements of a member contractor shall not be applicable.

(tentative)This letter of guarantee shall take precedence over the subscription agreement of the Regional Housing Association.

In the case of paragraph (1), it is scheduled to be refunded after June 2018 in accordance with the process of project implementation when refunding.

The final selection of the Si public corporation is based on the resolution of the members through the extraordinary general meeting.

(tentative)The promotion chairperson of the regional housing association promotion committee: D

C. Upon entering into the instant subscription agreement, the Plaintiff issued to the Defendant a letter of guarantee for safe guard (hereinafter “instant letter of guarantee”) with the following content.

The main contents of the Plaintiff’s bylaws of association (hereinafter “instant bylaws”) at the time the Defendant entered into the instant subscription agreement are as follows.

Article 23 (Resolution of General Meeting and Consent to Implementation of Promotion Committee) (1) The following matters shall be determined through a resolution of general meeting:

3...