1. Revocation of a judgment of the first instance;

2. The plaintiff's claim is dismissed.

3.(a)

Based on an application for the return of provisional payments,

1. Facts of recognition;

A. On April 23, 2008, the Plaintiff, Appellant, and the Defendant’s Intervenor (hereinafter “Defendant’s Intervenor”) entered into a land trust business agreement (hereinafter “instant business agreement”) with the content that they will newly construct and sell an apartment house on each land indicated in [Attachment 1 and 3 [Attachment 2] on each land as indicated in [Attachment 1 and 3 [Attachment 2] and then sell it in lots.

The provisions pertaining to performance guarantee for construction contracts in the instant business agreement are as follows.

Article 13 (Performance Bond for Construction Project) (1) A subsidy intervenor shall pay a contract bond equivalent to 10/100 of the contract amount in order to perform the contract for construction project.

(2) The amount equivalent to a contract bond under paragraph (1) may be paid in cash or by a written guarantee, etc. under Article 37 (2) 1 through 7 of the Enforcement Decree of the Act on Contracts to which the State is a Party.

B. On April 24, 2008, the Plaintiff ordered the instant new apartment construction project to the supplementary intervenor for the purpose of “the construction period: from April 24, 2008 to February 2010 (22 months from the commencement date of construction); the contract amount: KRW 49,363,240,00 (including value-added tax; hereinafter the same shall apply); the standard for contract amount: Total floor area of KRW 59,593,93.9 square meters (16 square meters: 18,207.16 square meters); the unit price of KRW 2,650,000 per square year; the contract price of KRW 1/1,000; the contract bond of KRW 4,936,324,00 on a day;

(hereinafter “instant contract”). Details related to contract deposit in the instant contract are as follows:

Article 5 (Deposit for Contract) (1) A subsidy intervenor shall pay the contract bond stipulated in the contract to the plaintiff in cash before the contract is concluded.

Provided, That a letter of guarantee, etc. that guarantees the payment of the amount of debt, etc. issued by the defendant may be paid in lieu of

Article 6 (Disposition of Deposit for Contract) (1) An intervenor who has failed to perform contractual obligations, or has entered into a contract in whole or in part under Article 32.