1. Revocation of the first instance judgment.

2. The instant lawsuit shall be dismissed.

3. All costs of the lawsuit shall be borne by the Plaintiff.

1. Basic facts

A. On May 13, 2016, the Plaintiff (K at the time of representative director) entered into a sales contract on May 13, 2016, with the Defendant on May 13, 2016, each land listed in paragraph (1) of the attached Table, which the Plaintiff owns from the Defendant (hereinafter “each land of this case”).

(2) The shares listed in paragraph (2) of the same list (hereinafter “instant shares”) and

The sales contract is 2.5 billion won (hereinafter referred to as the “instant sales contract”).

At the time, the Plaintiff concluded a contract. At the time, the Plaintiff paid KRW 200 million in the intermediate payment, respectively, on June 1, 2016, and paid KRW 2.2 billion in the remainder on the instant land within one month from the date on which the construction permit was granted. In addition, the Plaintiff agreed to pay taxes and public charges incurred in relation to the instant land. (ii) On May 13, 2016, pursuant to the instant contract, the Plaintiff paid the Defendant the down payment amount of KRW 200 million on June 1, 2016, the intermediate payment of KRW 100 million, and KRW 200 million on July 5, 2016, respectively.

3) On the other hand, around January 26, 2017, the Defendant obtained a building permit from the Jeju Mayor to newly build eight detached houses on the land, other than the land specified in attached Table 1-c. of the attached Table 1-C ( Jeju L, M, and N). B. The Defendant’s notification, etc. 1) on December 20, 2016, the Plaintiff filed the instant lawsuit against the Defendant on December 20, 2016, seeking implementation of the ownership transfer registration procedure, etc. for the instant land by deducting KRW 500 million from the purchase price stipulated in the above sales contract, from the remainder payment of KRW 1.1 billion after deducting KRW 50 million already paid from the purchase price stipulated in the above sales contract.

(B) On March 17, 2017, the Plaintiff changed the purport of the claim to the Plaintiff as of March 17, 2017. 2 The construction permission was completed as of January 26, 2017, as of February 1, 2017, on the Plaintiff on February 1, 2017. As such, the Plaintiff’s total amount of KRW 2.5 billion, including the purchase price and capital gains tax, and KRW 3.4778,50,000,000,000,000,000 won, including the purchase price, until February 25, 2017