2. The costs of appeal shall be borne by the Defendant.

Purport of claim and appeal

1..

A. On November 13, 2000, the Suwon-gu Busan Metropolitan City (hereinafter “Yol-gu”) obtained a reclamation license for the area of the public waters located in the area of Suwon-gu Busan Metropolitan City, Busan, and the YN Cooperative Y fishing village fraternity (hereinafter “YN fishing village fraternity”) consented to the reclamation of public waters in the area of Suwon-gu on January 26, 2001.

B. On September 27, 2001, Suwon-gu prepared an agreement on the implementation of a private capital inducement project on the reclamation of public waters in the Znch area (hereinafter “A”) and on the reclamation of public waters as described below with respect to the AO Co., Ltd. (hereinafter “A”) and the reclamation of public waters.

(hereinafter referred to as the “instant Convention”). Article 2 (Reasons and Name of the Project) This project is a public water reclamation project under the Public Waters Reclamation Act, which is a “Zumumump reclamation project for public water surface.”

Article 3 (Definitions) The definitions of terms used in this Convention shall be as follows:

(1) A project operator: The project operator means the Suwon-gu Busan Metropolitan City which is a local government under Article 9 (4) of the Public Waters Reclamation Act.

(3) Private investors: Parties to this Agreement, which are corporations designated as private investors by a project operator and which will carry out the project.

Article 5 (Sharing of Duties) (2) “A” (A) shall carry out the following activities:

Environmental review, loss, and damage compensation Article 8 (Land Ownership) ① Land generated from this project shall belong to "A" at the same time as the completion thereof.

(2) The payment in kind of land belonging to "A" shall be made in kind by a private investor and a private investor at the request of the private investor to compensate for the fishing village fraternity respectively. Article 15 (A) "B" (A) shall fulfill the conditions of the license for reclamation of public waters and the conditions of the authorization of the implementation plan for reclamation of public waters.

C. On May 18, 2002, the Y fishing village fraternity consented to the reclamation of public waters in Young-gu and AAA.

YThe fishing village fraternity shall hold a total conference on June 14, 2002 and explain the agreement of reclamation in the port.