1. The defendant's appeal is dismissed.

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

3.Paragraph 1 of the text of the judgment of the court of first instance.

1. Basic facts

A. The Plaintiffs are co-owners of the real estate listed in the separate sheet (hereinafter “instant land”).

(1/2) each of the interests of the plaintiffs;

D, the father of the Plaintiffs, was a single housing site of not more than 330§³ (hereinafter “instant housing site”) in accordance with the criteria for the relocation measures for an urban development project of Eunpyeong New Town (Public Notice of October 19, 2004), and became a single housing site of not more than 330§³ (hereinafter “instant housing site”) by a consultation transfer of not more than 1,175§³ in Eunpyeong-gu Seoul Metropolitan Government to Embane Corporation (hereinafter “SH Corporation”).

C. Around June 12, 2006, D sold E the sales right of the instant housing site at KRW 270 million (hereinafter “instant sales contract”), and the special terms and conditions of the instant sales contract to secure both parties’ performance are as follows.

If the sale price of the housing site of this case is determined in the future, the purchaser shall pay the sale price to the date of designation.

When a buyer fails to pay the purchase price on a designated slip, he/she shall not be held liable to the seller, and the purchase price shall belong to the seller and shall not be returned.

Therefore, the buyer immediately terminates the following right to collateral security.

A seller shall set the right to collateral security of KRW 350,000,000 for the land of this case to a purchaser.

Therefore, if the seller transferred the right to sell the housing site of this case to the buyer in the future, the buyer will immediately terminate the above collateral without any condition.

D On August 9, 2006, upon receipt of KRW 270 million from E of the purchase price of the instant housing site from E, E prepared a notarial deed recognizing compulsory execution with respect to promissory notes of KRW 500 million per face value to E, and D and E added a stipulation that a promissory note shall also be cancelled when the seller transferred to the buyer the right to the instant housing site.

E. Also, D and E are the sales contract of this case on August 9, 2006.