1. On May 31, 2016, the Defendant determined the officially assessed individual land price as of January 1, 2016, which was based on the size of 10,917 square meters in Yeonsu-gu Incheon.

1. Details of the disposition;

A. On January 16, 2014, the Plaintiff entered into a loan agreement with the Incheon Metropolitan City Free Economic Zone Authority and the Incheon Metropolitan City Free Economic Zone Authority on a total of 10,917 square meters (hereinafter “instant land”) and 12,564.8 square meters of 4,027.1 square meters (i.e., 4,151 square meters) in Yeonsu-gu Incheon Metropolitan City, Incheon Metropolitan City, which is a general property under the Public Property and Commodity Management Act, for a maximum of 20 years from the commencement date of the lease term, and entered into a lease agreement with the content that the annual rent shall be 10/1,000 of the officially assessed individual land price of the leased land set most recently from the commencement date of the lease (this shall apply to the rent rate of September 14, 2018 and 50/1,000 of the rent rate of 10/1,000 each year).

2.1.The following year from that time on the basis of 1.

1.31. The annual rent has been calculated and paid on the basis of the officially assessed individual land price of the immediately preceding year;

B. On January 1, 2016, the Defendant, on May 31, 2016, determined and publicly announced the officially assessed land price as of January 1, 2016 to KRW 2,516,000 per square meter (hereinafter “instant disposition”). In accordance with the guidelines for the assessment of the officially assessed individual land price for the year 2016, the Defendant selected as a comparative standard land price of KRW 19,968,70 square meters (hereinafter “the standard land price in this case”) of Yeonsu-gu Incheon as indicated in the following table as the standard land price assessment guidelines determined by the Minister of Land, Infrastructure and Transport, and surveyed the total price distribution rate of the instant land and the standard land price of this case as 0.88 (only on the adjoining condition of the road among the land characteristics, and surveyed the price distribution rate as 1.00 in the remaining characteristics of the land).

B D

C. On June 30, 2016, the Plaintiff filed an objection on the ground that the officially assessed individual land price of the instant land stipulated in the instant disposition was too high, but the Defendant dismissed it on July 26, 2016, following verification by appraisal business entities and deliberation by the Real Estate Assessment Committee.