1. The Defendant’s KRW 39,909,400 for the Plaintiff and 5% per annum from March 19, 2014 to February 12, 2016.

1. Details of ruling;

(a) A project approval and public announcement - A project name: A waterfront development project (Ij) - A project area: A project area: Gangseo-gu Busan Metropolitan City C, D, E, Ilwon - Area: 11,85,000 square meters: F publicly notified by the Ministry of Land, Transport and Maritime Affairs on December 14, 2012; Defendant:

(b) The Central Land Tribunal’s ruling of expropriation on January 23, 2014 (hereinafter “instant adjudication of expropriation”): - Busan Gangseo-gu G (hereinafter “instant land”): 6,437§³ (hereinafter “instant expropriation date”): The starting date of expropriation: March 18, 2014 - The amount of compensation: 1,442,209,850 won - the appraisal corporation: Sam Chang Chang-si and Krail appraisal corporation: C&O corporation and D&D corporation.

C. The Central Land Tribunal made an objection on August 21, 2014 (hereinafter “instant objection”) - Amount of compensation: 1,447,037,600 won - An appraisal corporation: the Korea Land Appraisal Corporation and the Korea Land Appraisal Corporation;

D. The court appraiser (hereinafter “court appraiser”) of the H appraiser’s office appraiser I (hereinafter “court appraiser”) of this Court - The court appraiser of this case selected the Busan Gangseo-gu J as a comparative standard for the land of this case and corrected other factors based on the time adjustment, regional factors, and individual factors, and then calculated the price of this case as KRW 1,486,947,000 for the land of this case [based on recognition] as a result of the correction of the point of time and the comparison of the regional factors and individual factors with respect to the land of this case, and then determined the price of this case as the price of this case as KRW 1,486,947,00 for the compensation prior to the Busan Gangseo-gu KK's answer (if any, including each number)

2. The assertion and judgment

A. As to the Plaintiff’s assertion, the amount of compensation set forth in the instant objection ruling is not fully reflected in the location, environment, accessibility to adjacent areas, etc. of the said land, and thus falls short of reasonable compensation, the Defendant shall additionally pay the difference between the Plaintiff and the reasonable amount of compensation.

(b)an appraisal body that forms the basis of the ruling in a lawsuit concerning the increase or decrease of one compensation.