1. The Defendant’s KRW 21,106,801 as well as the Plaintiff’s annual rate from August 11, 2015 to July 26, 2016, and the following.

1. Basic facts

A. On December 4, 2014, the Plaintiff (contractor) entered into a contract with the Defendant (contractor) for the construction of ten hundred million won (excluding value-added tax) and the construction period from December 5, 2014 to February 20, 2015 (hereinafter “instant construction contract”).

The main contents are as follows:

Advance payments for payments: 20% of the construction amount shall be paid in cash within five days after the contract is concluded.

The progress payment: 20% of the contract amount shall be paid in cash within 45 days after the commencement of construction works.

The completion amount: The balance of the contract amount shall be paid in cash within 20 days after the completion of the project.

Rate of liquidated damages: 3/1000 (based on January 1) of the contract amount

B. By December 9, 2014, the Defendant paid advance payment of KRW 14 million to the Plaintiff (20% of the construction cost).

C. On February 13, 2015, which is 45 days after the commencement of construction works, the Defendant paid 110,4400,000 won for progress payment (the amount calculated by adding value-added tax 10% to 20% of the construction cost) on February 13, 2015, which is later than 24 days after the commencement of construction works.

The Plaintiff completed the instant construction work on May 13, 2015, after 82 days from the completion date of the agreement ( February 20, 2015).

E. The Defendant, after deducting the liquidated damages for delay for 82 days, paid KRW 212,887,99 in total as the construction price from June 8, 2015 to July 24, 2015.

F. The amount (including value-added tax) that the Defendant deducted from the penalty for delay (including value-added tax) reaches 140,712,001 won [572,00,000 won for the work price including value-added tax (520,000 won x 1.1) - 1.4 million won (in advance) - 114,444 million won (in advance) paid after completion - 212,87,99 won paid after completion].

The above amount is the amount equivalent to the liquidated damages for 82 days.

[140,712,00 won = 520 million won ¡¿ 3/1000 ¡¿ 82 days ¡¿ 1.1).

[Reasons for Recognition] Unsatisfy, Gap evidence 1, Gap evidence 3 through 8, the purport of the whole pleadings

2. Summary of the parties’ assertion

A. In light of the Plaintiff’s assertion, it is unreasonable for the Defendant to deduct KRW 140,712,001 from the liquidated damages. Therefore, the Defendant is subject to KRW 140,712,001 from the Plaintiff.