The appeal is dismissed.

The costs of appeal are assessed against the Plaintiff.

The grounds of appeal are examined (to the extent of supplement in case of supplemental appellate briefs not timely filed).

1. As to the grounds of appeal Nos. 1, 3, and 4, based on the reasoning of the judgment of the court of first instance, the lower court determined that, based on the premise that Article 37(1)7 of the condition of the construction contract of this case merely stipulates that “where the construction work is not completed or is not possible as scheduled due to the Defendant’s bankruptcy, application for commencement of rehabilitation procedures and other similar procedures, or similar grounds for occurrence, etc.,” the Plaintiff may rescind or terminate the said contract, and that the application for commencement of rehabilitation procedures itself does not constitute a requirement for cancellation or termination, the lower court determined that it is difficult to conclude that the grounds alleged by the Plaintiff asserted by the Plaintiff were impossible to implement the construction contract of this case as scheduled by the Defendant solely on the basis of the reasons alleged by the Plaintiff.

In light of the relevant legal principles and records, the above determination by the court below is just, and contrary to the allegations in the grounds of appeal, the court below did not err by misapprehending the legal principles on the interpretation of Article 37(1)7 of the terms and conditions of the construction contract of this case or the guarantee for

2. Regarding ground of appeal No. 2

A. Review of the reasoning of the lower judgment, the reasoning of the first instance judgment cited by the lower court, and the evidence duly admitted by the lower court reveals the following circumstances.

1) The Plaintiff filed an application for commencing rehabilitation procedures (Seoul Central District Court 2012 Gohap72) by the Defendant, asserting that the grounds for rescission of the contract under Article 37(1) of the Construction Contract Terms have occurred, and notified the Defendant of the termination of the contract two times through the notification of scheduled rescission of the contract, and then the Plaintiff and the Plaintiff