1. All appeals by the Defendants are dismissed.

2. The costs of appeal are assessed against the Defendants.

Purport of claim and appeal

1.

1. Basic facts

A. On March 15, 2004, the Plaintiff entered into a sales contract with G to purchase KRW 557,500,000 (hereinafter “the instant sales contract”) for the purchase price of KRW 557,50,000 (hereinafter “each of the instant real property”) prior to the merger and KRW 265,000,000, Pyeongtaek-si E prior to the merger (hereinafter “the instant real property”) and completed the registration of ownership transfer for each of the instant real property on December 15, 2004 after paying the said purchase price.

B. On the other hand, on December 15, 2004, the Plaintiff set up a right to collateral security of KRW 275,000,000 for each of the instant real estates in F’s name in order to secure the investment debt incurred by F for the purchase of each of the instant real estates.

C. After that, on November 17, 2006, Pyeongtaek-si entered into an agreement on the acquisition of public land for the instant real estate No. 2 with the Plaintiff, and completed the registration of ownership transfer on November 23, 2006, and paid KRW 225,647,50 to the Plaintiff as compensation for the said land.

And F was paid KRW 100,000,000 out of the investment money secured by the right to collateral security prior to the Plaintiff out of the above compensation.

Accordingly, on November 17, 2006, the Plaintiff agreed with F to modify the maximum debt amount regarding the registration of creation of a neighboring site on the instant real estate No. 1. On November 23, 2006, the Plaintiff completed the supplementary registration changing the maximum debt amount to KRW 155,00,000 as the receipt of KRW 76548 from the Suwon District Court’s Eunpyeong Housing Site Costs to KRW 76548.

E. On April 18, 2010, F submitted to the Plaintiff a letter stating that “The secured debt of the foregoing right to collateral security was returned to KRW 155,00,000,000, and waiver of all the rights to the instant real estate 1.” Accordingly, the foregoing right to collateral security was cancelled on November 12, 2010 on the ground of termination on November 3, 2010.

F. The Defendants, after filing the instant lawsuit, are in the name of the Plaintiff as to each of the instant real estate between the Plaintiff, F and the Defendants on November 6, 2014.