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【Main Issues and Holdings】
Party B won the right to purchase a new apartment unit that was under construction by Party A, Korea Land & Housing Corporation, as part of a housing construction project in a residential land development project area located in the Seoul metropolitan area, signed a real estate purchase contract with Party A, and subsequently registered the transfer of ownership of the unit, pursuant to the Special Act on the Construction of the Bogeumjari Housing Act. During the mandatory occupancy period prescribed by the same Act, Party B moved into a rented house in Gangwon-do Province, was issued a certificate stating that Party B intended to cultivate farmland owned by Party B, applied to Party A for an exemption from the occupancy obligation, claiming that Party B had to live outside the Seoul metropolitan area with all members of the household to maintain their livelihood, and received approval from Party A. Nine days after receiving exemption approval from Party A, Party B moved to a city in the Seoul metropolitan area instead of moving into the new apartment unit that Party B had won the right to purchase, and Party A exercised its right of repurchase pursuant to Article 50-2(3) of the same Act on the grounds of Party B's breach of the obligation to move in. The court ruled that, since Party B moved to a city in the Seoul metropolitan area nine days after the exception was granted and the reason for the exception lapsed, it is reasonable to assume that the 90-day period begins anew at least at that point, and that Party A's exercise of the repurchase right was lawful as Party B breached its occupancy obligation by failing to move in within the recommenced mandatory occupancy period.
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