1. The defendants' appeal is dismissed.

2. The costs of appeal are assessed against the Defendants.

Purport of claim and appeal

1...

1. Basic facts

A. On October 10, 2002, the Plaintiff and Defendant B Co., Ltd. (hereinafter “Defendant Company”) concluded a sales contract in which the Plaintiff purchased from the Defendant Company the F (F) Nos. 107 through 111 (hereinafter “F”) at KRW 1,271,160,000, but the down payment of KRW 358,870,000 on October 10, 2002, which is the date of the contract, the intermediate payment of KRW 300,000,000 on December 6, 2002, the remainder payment of KRW 612,290,000,000 shall be treated as bank loans at the time of completion (hereinafter “sale contract in this case”).

B. On October 10, 2002, the date of the instant sales contract, the Plaintiff paid 358,870,000 won for the down payment under the instant sales contract to the Defendant Company.

C. On December 5, 2002, the Defendant Company prepared to the Plaintiff a letter of undertaking (hereinafter “instant letter of undertaking”) with the following contents, and the Defendant C jointly and severally guaranteed the Defendant Company’s obligation under the instant letter of undertaking.

In selling and selling (transfer) units F. F. 107, 108, 109, 110, and 111 of the first floor above the F. The representative director G of the Defendant Company and the Defendant C, a joint guarantor, shall be bound to assume all liability and criminal liability for any damages, if any problem relating to the ownership of the said real estate arises in the future.

In addition, due to the provisional attachment No. 56048, which was registered as of October 11, 2002 on the land at present, if the plaintiff who is the purchaser in the future is restricted in the transfer registration of ownership until March 31, 2003, the representative director G of the defendant company who is the seller and the defendant C who is the joint and several surety will be held liable for all civil and criminal liability due to the non-performance of the promise.

In addition, if the transfer registration of ownership is delayed, the representative director G of the defendant company and the defendant C, a joint guarantor, shall have 5% of the total amount of the down payment and the intermediate payment paid by the purchaser by the end of each month.