1. The plaintiff's claim is dismissed.

2. The costs of lawsuit shall be borne by the Plaintiff.

1. Basic facts

A. On December 19, 2005, the Plaintiff entered into a sales contract with the Defendant to purchase the purchase price of KRW 508,260,000 square meters (hereinafter “instant sales contract”) for the purchase price of KRW 1,304 square meters (hereinafter “instant land”) in Jeonjin-gu, Seoul Special Metropolitan City (hereinafter “instant land”) owned by the Defendant, and paid the Defendant the down payment of KRW 60,00,000 on the date of the contract.

Article 5 (Cancellation of Contract) If the buyer does not pay the intermediate payment (if there is no intermediate payment), the seller shall reimburse the sum of the down payment, and the buyer may waive the down payment and rescind this contract.

Article 6 (Non-performance of Obligations and Compensation for Damages) If a seller or buyer has any non-performance of the terms and conditions of this Agreement, the other party shall notify in writing the person who has defaulted, and the contract may be rescinded.

In addition, the parties to the contract may claim the other party for the compensation for damage following the cancellation of contract, and the contract deposit shall be considered as the basis for the compensation for damage unless otherwise agreed.

Matters of special agreement

1. Any balance of 358,260,000 won shall be paid on December 30, and the transfer of ownership shall be made; and

Provided, That KRW 90,000,000 out of the remainder shall be paid immediately after a judgment in favor of a lawsuit for water tank disposal in the land subject to sale is rendered, and the costs and expenses incurred in relation thereto shall be borne by the seller.

2. The payment guarantee of KRW 90,000,000 shall be substituted by a loan certificate.

3. The seller shall actively cooperate in paying the building permit by giving his/her written consent to the use of the land after receiving the down payment.

B. The main contents of the instant sales contract are as follows.

C. The Plaintiff did not pay any balance until December 30, 2005, which is the remaining payment date. On January 11, 2006, the Plaintiff notified the Defendant that the contract would be cancelled on the grounds that the building cannot be constructed on the instant land, and that the contract would be cancelled on January 11, 2006, that the sum of the down payment amounting to KRW 60 million and the penalty and damages amounting to KRW 120 million should be paid.