1. The plaintiff's claim is dismissed.

2. The costs of lawsuit shall be borne by the Plaintiff.

1. Basic facts

A. On September 3, 2007, the Plaintiff formed a consortium with 15 members, such as the Korea Local Administration Mutual Aid Association (a total of these members referred to as the “instant consortium”) to participate in the project for the development of the downtown Complex in the Seongbuk-nam Housing Site Development Project zone (hereinafter “instant project”), which is implemented by the Korea Land and Housing Corporation, and entered into an agreement with a private business entity by forming a consortium comprised of investment companies, a contractor, and a financial company (hereinafter “instant consortium agreement”).

B. According to the instant consortium agreement, the instant consortium established a project financial investment company (hereinafter “SPC”) for each equity share after making an investment in equity shares with the Korea Land and Housing Corporation, and establishing a project financial investment company for each equity share (hereinafter “SPC”) (Article 3(1), Article 6), and SPC (PFV) (hereinafter “AMF”). (Article 3(2)), the Plaintiff, as an investment company, was to conduct the business of acquiring equity shares (2%) and part of commercial facilities (the specific scope of acquisition is reasonably determined through consultation with the investment company).

(Article IV, paragraph 6). (c)

The instant consortium prepared a business plan in accordance with the instant consortium agreement, and submitted it to the Korea Land and Housing Corporation for determination as a private business operator of the instant project. On October 31, 2007, the consortium concluded a business agreement with the Korea Land and Housing Corporation for the instant project (hereinafter “instant business agreement”).

The main contents of the project agreement of this case are as follows.

Article 5 (Establishment of Companies, etc.) "A" and "B" shall establish the "SPC (PFV)" and "AMC" within December 31, 2007 for the implementation of the project.

Provided, That the term of establishment of "A" and "B" may be extended by mutual consultation or the amount of the established capital of "A" under subparagraph 1 may be adjusted.

1. “A soldier”.