1. The plaintiff's appeal is dismissed.

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

Purport of claim and appeal

1..

1. Basic facts

A. On April 19, 2006, the Plaintiff borrowed 60 million won from the Defendant as interest rate of 3% per month (3.5% per annum) and due date of repayment on September 19, 2006.

(hereinafter “the instant loan”). (b)

On the same day, the Plaintiff completed the registration of the provisional registration right to each of the instant land as Defendant husband C with respect to each of the instant land in order to secure the loan of this case, and C prepared and issued a custody certificate with the following content to the Plaintiff:

Until July 31, 2006, each of the instant lands is to be sold in KRW C liable and KRW 200 million under the Plaintiff’s delegation, and in the event of default, interest on the instant loan shall be 1/2 of the agreed interest rate (a loan shall be lent until the date of sale of the land). It is agreed that all of the documents on the registration of ownership transfer of each of the instant lands shall be kept, and that the procedures for the registration of ownership transfer shall not be fulfilled by September 19, 2006 (Provided, That where interest is overdue or principal is not repaid, the registration of ownership transfer may be implemented even before the date of safekeeping).

C. As the Plaintiff was unable to repay the instant loan, the Defendant and C (hereinafter collectively referred to as the “Defendant”) agreed with the Plaintiff on April 18, 2007 as follows.

(hereinafter referred to as the “instant agreement.” The Plaintiff shall transfer each of the instant land to the Defendant’s side and shall not have any money to be settled.

The registration of the establishment of a neighboring mortgage in the name of the mortgagee J, which was established on each of the instant lands, shall be cancelled until May 31, 2007, and thereafter, shall be transferred to the Plaintiff the ownership of the real estate owned by the Defendant (referring to Jeju, which is deemed as follows). If the registration of the establishment of a neighboring mortgage cannot be cancelled, the ownership of the real estate owned by the Defendant shall not be transferred to the Plaintiff.

In the process of exchanging each land of this case and the real estate owned by the defendant, the M&C obligations secured by each real estate are mutually.