1. All appeals by the defendant against the plaintiffs are dismissed.

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

purport, purport, and.

1. Facts of recognition;

A. The Defendant’s establishment and the Plaintiffs’ membership (1) the Defendant is a regional housing association established with the approval of establishment on April 3, 2015 to promote a housing construction project in the Ulsan-gu E Unit.

(2) On June 28, 2014 and June 26, 2014, Plaintiff A and Plaintiff B entered into each of the following agreements with the Defendant Promotion Committee (the Defendant established with the authorization of establishment as above and the comprehensive succession of all the rights and obligations of the Promotion Committee) and each of the agreements to join the association (hereinafter “each of the instant agreements”) which join the Defendant’s members.

(3) Pursuant to each of the subscription agreements of this case, Plaintiff A paid KRW 54 million in total, including the Defendant, KRW 44 million in total, and KRW 10 million in total, and KRW 36 million in total, and KRW 46 million in total, including KRW 36 million in total, and KRW 16 million in total, pursuant to each of the subscription agreements of this case.

B. The contents of each of the instant subscription agreements and the Defendant Association Agreements regarding the deprivation of membership (1) stipulate, “The full amount of the down payment upon refund shall be refunded, and the business promotion expenses shall not be refunded. In addition, the time of refund shall be the time of payment determined in accordance with the provisions of the Association Regulations and the Trust Company.”

(2) Meanwhile, the part concerning the Defendant’s covenant of association (hereinafter “instant covenant”) is as follows.

The qualification requirements for union members under Article 8 (Qualification for Union Members) of the rules of a cooperative shall refer to the qualification requirements for union members as prescribed by the Housing Act and subordinate statutes, and shall be

1. Cases of a regional housing association:

(a) A householder who fails to own a house from the date of application for the authorization for establishment of a housing association to the date possible to move into the relevant housing association, or who owns one house with an exclusive residing area of

(i) A member of a housing association shall be subject to inevitable reasons, such as service, disease treatment, study, or marriage;