The plaintiff's claim is dismissed.

Litigation costs shall be borne by the plaintiff.

1. Basic facts

A. The Plaintiff and the Defendant are companies engaged in real estate development business, etc.

Article 3 (Method of Joint Project) The plaintiff and the defendant share their duties and cooperate in order to achieve the objectives of the project in this case as follows:

① The instant project shall be conducted on the site owned by the Defendant, and the Plaintiff shall conduct a joint project as a PM company.

(2) For the instant project, new SPC (special purpose corporations, hereinafter the same shall apply) shall be established.

(3) Overseasly, the defendant runs business as representative, but the actual duties shall be performed as the plaintiff's responsibility.

④ The Plaintiff’s KRW 8 billion out of the land price of 16 billion shall be paid to the Defendant simultaneously with the Financial PPF (hereinafter the same shall apply), and the representative of the Company shall be jointly with the Plaintiff and the Defendant.

Article 4 (Scope of Work Sharing and Obligations) Defendant’s responsible affairs (1) Provision of land as a representative of a joint project by entering into a joint project with the Plaintiff and providing the land as a representative of the joint project, and financial affairs shall be performed until both agreed land prices and preferential profits are paid.

(2) The Plaintiff may terminate the instant joint business contract in any of the following cases: (a) The Plaintiff and the Defendant, as a joint business proprietor, with a total amount of KRW 300 million up to July 31, 2015 (the method of collection of the agreed amount is based on the special agreement stipulated under Article 12).

① Where either of the parties fails to perform a significant obligation under the instant joint project agreement or is practically difficult to perform the project in violation of the said agreement, the Plaintiff and the Defendant shall continue the project for a long period.