1.The judgment of the first instance shall be modified as follows:

The defendant shall pay 8 million won from the plaintiff and on June 2003.

1. Basic facts

A. On July 18, 2001, the Plaintiff was awarded the instant real estate auction in the Incheon District Court E Real Estate Auction case and completed the registration of ownership transfer on October 10, 2001.

B. On June 10, 2003, the Plaintiff sold the instant real estate to the Defendant at KRW 42,000,000; however, KRW 4,00,000 for down payment and intermediate payment KRW 8,000 for intermediate payment and KRW 30,000 for payment on the date of the contract and entered into a sales contract with the Defendant to receive a bank loan in 2003 without setting the due date (hereinafter “instant sales contract”).

C. On June 10, 2003, the Plaintiff received total of KRW 12,000,000 from the Defendant, including down payment of KRW 4,000,000 and intermediate payment of KRW 8,000,00, and the Defendant completed the registration of this case in its name on July 2, 2003.

On May 6, 2013, the Plaintiff failed to receive the remainder of KRW 30,000,000 from the Defendant, and expressed to the Defendant the intent that “if the remainder is not paid within one week, the sales contract shall be rescinded” by content-certified mail. Around that time, the Plaintiff’s declaration of intent reached the Defendant.

【Ground for recognition】 The fact that there has been no dispute, Gap's 1 through 4, Eul's 6 and 7, the purport of the whole pleadings and arguments

2. The parties' assertion

A. Inasmuch as the Plaintiff’s assertion was rescinded by the Plaintiff’s declaration of intent to rescind, the Defendant is obligated to implement the registration procedure for cancellation of the instant registration in its original state.

In addition, since the Plaintiff acquired ownership of the instant real estate, the rent is KRW 93,744,180 from June 10, 2003 to May 15, 2015, which entered into the instant sales contract, and even if the sum of the down payment and the intermediate payment is deducted from KRW 12,00,000,000 as the Defendant’s assertion, it shall be returned 81,744,180 equivalent to the rent.

Even if the defendant's assertion for simultaneous performance is accepted, the penalty stipulated in the sales contract of this case among the claims asserted by the defendant should be deducted.