All appeals are dismissed.

Costs of appeal shall be borne by each party.

The grounds of appeal are examined (to the extent of supplement in case of supplemental appellate briefs not timely filed).

1. Regarding the plaintiffs' grounds of appeal

A. As to the ground of appeal No. 1, Article 21(1) and (10) of the former Rental Housing Act (amended by Act No. 9541 of Mar. 25, 2009), Article 23(7) of the former Enforcement Decree of the Rental Housing Act (amended by Presidential Decree No. 21641 of Jul. 27, 2009; hereinafter the same shall apply), Article 14 of the former Enforcement Rule of the Rental Housing Act (amended by Ordinance of the Ministry of Land, Transport and Maritime Affairs No. 144 of Jun. 26, 2009; hereinafter the same shall apply), when the pre-sale conversion is made in preference to the lessee of the publicly constructed rental housing constructed with funding from the National Housing Fund, or to the lessee of the publicly constructed rental housing constructed with an exclusive use area of 85 square meters or less in a housing site developed by a public project, the pre-sale conversion conversion should be calculated in accordance with the attached Table 1 [Attachment 1].

According to the attached Table of this case, the pre-sale conversion price of rental housing, the mandatory rental period of which is five years, shall be calculated by calculating the arithmetic mean of the construction cost and the appraised value. Here, the construction cost shall be calculated as “self-interest on the housing price at the time of the initial recruitment of occupants - depreciation costs”, and the housing price at the time of the initial recruitment

1.(b)

-

2.(a)

[1] Among them, the housing site cost is the supply price [the attached Table of this case] in the case of a housing site developed and supplied by a public institution under the Act on the Management of Public Institutions, such as the State, a local government, the Korea Land and Housing Corporation, etc. (hereinafter referred to as "public housing site"), such as

2. D.

2) Subparagraph (a) and (hereinafter “Attachment 2) of the instant Table 2”)”

the rental business operator acquires or acquires.