1. All appeals filed by the plaintiff and the defendant are dismissed.

2. The costs of appeal shall be borne by each party.

The purport of the claim and appeal is the purport of the appeal.

1. The reasoning of the court of first instance’s explanation concerning the instant case is as follows: (a) the ground for the court’s explanation is as stated in the reasoning of the judgment of the first instance, except for the addition or the parts used for correction as stated in paragraph (2) below; and (b) thus, (c) it is acceptable

An abbreviationd name established in the first instance judgment shall also be used as it is.

2. On the ground of the judgment of the court of first instance, the following is added to the portion added by this court, 30 pages 7.

3. Furthermore, the Plaintiff asserts that the Plaintiff was obligated to notify the Plaintiff of the fact that the Plaintiff sold nearby commercial sites of this case prior to the conclusion of the instant project agreement on May 2, 2008 or at the latest, September 12, 2008.

However, in light of the circumstances examined in the preceding paragraph, it cannot be said that the Defendant had a duty to notify such fact, and there is no other evidence to acknowledge it, and the Plaintiff’s assertion also is without merit.

3. Grounds of the judgment of the court of first instance for a part which was accepted by the court.

A. 1) The part of paragraph (1) of this Article (Articles 42, 18, 43, and 17 of the judgment of the court of first instance) (Articles 42, 43, and 17 of the judgment) is as follows. 1) The following circumstances are acknowledged by comprehensively taking account of the facts, the statements in subparagraphs 1, 4, and the purport of the whole arguments, which were found to have not been disputed between the parties, or which were found to have been established

① Article 22(5) of the Guidelines for Public Offering and Article 12(5) of the Business Agreement provide that the consortium of this case guarantees the payment obligation of the instant land purchase price in share of the purchase price of this case.

In addition, Article 24 (2) of the Public Offering Guidelines of this case provides that "the consortium of this case shall be responsible for the business plan of this case, such as the establishment of the project of this case, the raising of business funds, and the completion of construction, and all the matters that the project of this case can be promoted as prescribed by the project agreement of this case