(a) Business approval and public notice - Business name: Bogeumjari Housing Project (B; hereinafter referred to as the “instant Project”): The public notice: C-Project operator announced by the Ministry of Land, Transport and Maritime Affairs on December 3, 2009

(b) The Central Land Tribunal’s ruling of expropriation on November 16, 2012 - Subject to expropriation: D forest land 5,653 square meters (hereinafter “instant land”): Compensation for losses: 801,595,400 square meters (i.e., 141,800 square meters x 5,653 square meters) - The date of commencement of expropriation: An appraisal corporation on December 17, 2012 - An appraisal corporation: a corporation for land appraisal and a future appraisal corporation for a stock company (hereinafter “appraisal for expropriation”).

C. The Central Land Tribunal’s ruling on April 19, 2013 - Dismissal of an objection - An appraisal corporation: the Korea Land Tribunal, the Korea Land Tribunal, the Korea Land Appraisal Corporation (hereinafter referred to as the “Appraisal of Objection”), and the Korea Land Appraisal Corporation (hereinafter referred to as the “Appraisal of Objection”), and in case of reference to the Adjudication of Expropriation: hereinafter referred to as the “Adjudication Appraiser”): [In the absence of dispute: Evidence No. 1, Evidence No. 2, Evidence No. 3-1, No. 2, Evidence No. 1, No. 3-2, Evidence No. 1, No. 2, Evidence No. 2, Evidence No. 3-1,

2. On April 25, 2013, the Defendant filed the instant lawsuit on September 12, 2013, after receiving the instant written adjudication on the instant objection on April 25, 2013, which was later served on and after the date of filing the lawsuit under Article 85(1) of the Act on Acquisition of and Compensation for Land, etc. for Public Works Projects, and accordingly, the instant lawsuit was brought after the lapse of the period of filing the lawsuit. Therefore, the instant lawsuit is unlawful. However, in full view of the purport of the entire pleadings in each of the statements in Articles 11 through 14, 16, and 17-1, 17-1, 2, the Plaintiff submitted the written adjudication on expropriation on November 16, 2012 to the Central Land Expropriation Committee on December 17, 2012, and changed the former domicile from the former domicile to the “Gu Eri-si” from the former domicile, and the Central Land Expropriation Committee on February 23, 2013.