1. Revocation of a judgment of the first instance;

2. The Defendant shall pay to the Plaintiff KRW 11,00,000 and its payment from May 25, 2017.

1. Basic facts

A. On October 30, 2015, a new bank filed an application for voluntary auction to Suwon District Court C in relation to the instant land and buildings (hereinafter “instant auction”) with the Suwon District Court, as a mortgagee on the size of 3,753 square meters and above ground buildings (hereinafter “instant land and buildings”) in Ansan-si, and on November 2, 2015, the said court rendered a decision to commence the auction on November 2, 2015.

In the auction procedure of this case, the defendant acquired the creditor status of the new bank.

B. The Plaintiff, a licensed real estate agent, requested D to purchase the instant land and building by proxy for acquiring the ownership of the said land and building, and explained that D would be awarded a successful bid for the instant land and building by finding the Defendant.

Accordingly, in the auction procedure of this case, when the land and buildings of this case were awarded at KRW 1.2 billion, the Defendant, the mortgagee, was aware that the Defendant could obtain adequate satisfaction, and D, through the Plaintiff, decided to participate in the auction procedure of this case at least KRW 1.2 billion as presented by the Defendant.

C. On January 3, 2017, D: (a) signed and delivered to the Plaintiff a letter of undertaking stating, “D will undertake the auction process through the Plaintiff at a bid price of at least 1.2 billion won of the bid price on January 16, 2017 with respect to the instant auction case; (b) seal imprinting and attaching a certificate of seal impression.”

On January 4, 2017, the Plaintiff and the Defendant and the Plaintiff prepared a consulting contract (hereinafter “instant contract”) stating that “If D participates in the instant auction case in an amount of at least KRW 1195 million and the Plaintiff becomes the highest purchaser and paid the successful bid price in full, the Defendant shall pay the Plaintiff KRW 11 million as a commission (payment in full and within five business days after receipt of the written request)” (hereinafter “instant contract”) and issued the instant contract and D’s promise to the Defendant.

(e)in this case;