The appeal is dismissed.

The costs of appeal are assessed against the Plaintiff.

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

The former Local Tax Act (wholly amended by Act No. 10221, Mar. 31, 2010)

(a) The same shall apply;

Article 277(2) of the Balanced Regional Development and Support for Local Small and Medium Enterprises Act provides that “The real estate acquired by a person designated as a project implementer within an area designated as a development promotion district under Article 9 of the same Act to implement a development project publicly notified under the same Act shall be exempted from the acquisition and registration taxes, and the property tax shall be reduced by 50/100 for five years from the date on which the first tax liability becomes effective: Provided, That where such real estate is not used or sold directly within three years from the date of its acquisition without justifiable grounds, the reduced and exempted acquisition tax and property tax on the relevant portion shall be collected additionally.” The term “justifiable grounds” in this context refers to a case where the real estate acquired is not used for the relevant project due to external or internal reasons, such as prohibition or restriction on use by an administrative agency, or where it is impossible to use such real estate for the relevant project due to other objective reasons, or where the real estate purchaser fails to use it directly for the relevant project or is sold within the scope of its own financial situation or revenue issues (see, e.g., Supreme Court Decision 2012Du14620, etc.