Defendant:

A. The Plaintiff A’s KRW 125,913,747 and its related KRW 5% per annum from September 2, 2006 to March 28, 2012.

Facts of recognition

A. On February 27, 2002, Plaintiff B purchased shares of KRW 308/1061 from the Defendant in the amount of KRW 12,00,000,000, out of D forest land 1,061 square meters (hereinafter “forest land before division”) owned by the Defendant.

B. However, on June 19, 2003, June 19, 2003, prior to the completion of the registration of ownership transfer for shares 308/1061 out of the forest land before division to Plaintiff B, the Defendant granted a loan of KRW 259,00,000 from Seog Agricultural Cooperative as a lender, and granted a loan of KRW 259,00,000 to Plaintiff B, the Defendant set up a right to collateral security for all forest land prior to division under the name of Seog Agricultural Cooperative.

(hereinafter “instant collateral security”). C.

On February 25, 2004, the defendant completed the registration of transfer of ownership with respect to share 308/1061 out of forest land before subdivision due to sale on February 27, 2002 to Plaintiff B.

Plaintiff

B In order to prevent the exercise of the right to collateral security when the Defendant and E were unable to repay loans to the Seocho Agricultural Cooperative, the Defendant and E subrogated to KRW 36,011,166 out of the secured obligation of the instant right to collateral security to the Seocho Agricultural Cooperative, in order to prevent the execution of the instant right to collateral security.

E. On August 8, 2005, which was after the commencement of the payment by subrogation for the Seocho Agricultural Cooperative, the plaintiff B made a co-owned property partition agreement with the defendant and F to divide the forest land before the division as stated in the table below. According to the division agreement, the plaintiff B completed the subdivision and the registration of transfer of ownership as to the forest land before the division on August 17, 2005.

(E) After the subdivision, each land after the subdivision was made for the registration conversion as indicated in the table below. After the subdivision on August 17, 2005, the land was divided, and after the registration conversion on March 29, 2006, the Plaintiff B, the Plaintiff B, the Plaintiff, the Plaintiff, the Plaintiff, the Plaintiff, the Plaintiff, the Plaintiff, the 102mal land B, the 210malary land B, the 214malary land B, the 214malm2, the 213m2, the 210m2, the forest land B, the 1,061m2, the 540m2, the land owner and the 540m2, the 418m2, the 540m2, the 545m2.5/1061m2, the