A. On April 3, 2007, Plaintiff A entered into a membership agreement with the Defendant on the membership of a golf club operated by the Defendant as a regular member, and around that time, Plaintiff A paid KRW 150 million to the Defendant as the membership fee.

Plaintiff

B entered into a membership agreement with the Defendant on April 10, 2007, which entered into with the Defendant as a regular member of the said golf club, and around that time, the Defendant paid KRW 150 million with the membership fee to the Defendant.

B. Of the rules presented at the time of entering into each of the above Plaintiffs’ respective membership agreements (hereinafter “instant membership agreements”), the contents relating to the membership fees are as follows.

[Regulations] Article 12 (Entry Fees)

1. Regular members: A deposit money for membership shall be deposited with interest without interest in the company for five years from the date of full payment of the deposit money, and the principal shall be refunded only once of withdrawal;

Provided, That the return of a company may be suspended for a certain period of time in accordance with a resolution of the board of directors in cases where the company is determined to be significantly unreasonable in its management and an event of force majeure occurs.

Article 20 (Withdrawals)

1. If a company wishes to retire, it shall submit a prescribed application and obtain the approval of the company;

2. The withdrawal of an association shall not be approved for five years (three years for a main member) after the admission;

3. The company shall refund a membership fee when it approves the withdrawal.

C. On March 2, 2012, the Plaintiffs: (a) requested the Defendant to return the amount of return to the Defendant at the time five years elapsed from the date of each of the instant membership agreements; (b) however, the Defendant refused to return the amount of return.

[Ground of recognition] Facts without dispute, Gap evidence Nos. 1 through 5 (including each number), the purport of the whole pleadings

2. Determination

A. According to the above facts of determination as to the cause of the claim, as the Plaintiffs expressed their intent to waive the above content on March 2, 2012, the Plaintiffs expressed their intent on April 4, 2012 (Plaintiff A) or April 11, 2012 at the expiration of five years from the date of each of the instant membership agreements.