On March 18, 1999, the land subdivision rearrangement cooperative in the 2nd district area (hereinafter “cooperative”) has obtained the authorization of establishment and the authorization of land rearrangement project under Article 16 of the former Land Rearrangement and Rearrangement Projects Act (amended by Act No. 6252, Jan. 28, 200; hereinafter the same shall apply) from the Mayor/Do Governor on March 18, 199, and has implemented a land rearrangement and rearrangement project in the 591,812 square meters of land in the urban planning zone (hereinafter “instant project”).

At that time, “76 block 1 lot (area: 11,519 square meters)” in the above business area (hereinafter “instant land”) was written as school site from the beginning in the business plan of the association, and was designated as school site in the land substitution plan authorized by the association.

However, the land of this case was included in the land substitution plan of the association.

After that, the association had discontinued its business for one time and resumed its business in full scale on August 2005. On July 23, 2008, the association obtained authorization for the change of the business plan of this case from Gllldong to "the project cost originally increased to approximately KRW 35.4 billion to KRW 51 billion, and accordingly, changed the unit price of the land allotted by the authorities in recompense for development outlay to KRW 392,782 (per square meter KRW 1.3 million)."

On October 19, 2007, the instant land disposal association against the Defendant entered into a contract for construction works with the Defendant for the execution of site development works, etc. in the said business area. On December 6, 2010, the cooperative shall divide development recompense land equivalent to KRW 45.6 billion in total with the payment of accrued and additional construction costs, etc. to the Defendant as of July 23, 2008 as of the development cost at the time of authorization for the change of the plan for the land readjustment and rearrangement project of July 23, 2008 (i.e., KRW 1., KRW 1.3 million in total, KRW 35,083 in total), which shall be designated by the Defendant (a trustee shall dispose of trust real estate).