1. The Defendant: (a) KRW 403,447,158 to the Plaintiff; and (b) KRW 5% per annum from September 15, 2012 to January 17, 2013 to the Plaintiff.

1. Details of ruling;

(a) Business approval and public notice - Business name - Commercial name : 40 tea site development project (hereinafter “instant project”) - Public notice: July 11, 2008 - Business operator No. 2008-308 of the Ministry of Land, Transport and Maritime Affairs announced on July 11, 2008

B. The Central Land Tribunal’s ruling on expropriation on June 22, 2012 - Compensation subject to the Defendant’s “Liberaco clubs” (hereinafter “instant golf clubs”): The number of trees located in the land of the sewage treatment plants and sewage treatment facilities (hereinafter “in the instant obstacles”) on the land of 120-7, Yansi-ri, Yansi-ri (hereinafter “instant obstacles”) and the land of 120-7, Yansi-ri in the lusisisisisisisisisisi (hereinafter “instant obstacles”), among obstacles to golf clubs operated by the Defendant: 131,335,000 won (including 125,370,000 won for the instant obstacles), including the compensation for the instant obstacles, the Central Land Tribunal requested the appraisal of the amount equivalent to the construction expenses newly installed, but the Central Land Tribunal set the amount appraised as the transfer cost within the scope of the price of the instant obstacles as the compensation amount: the appraisal corporation’s overall appraisal corporation number 1, 2000

2. The assertion and judgment

A. According to Article 75(1) of the Act on the Acquisition of Land, etc. for Public Works and the Compensation therefor (hereinafter “Public Works Act”), the Plaintiff’s adjudication on expropriation of the obstacles of this case assessed the cost of relocation within the scope of the price of the obstacles of this case.

However, the instant obstacles are essential facilities to maintain and operate the instant golf course, and they cannot maintain and operate the remaining facilities of the instant golf course (hereinafter “the instant obstacles”) identical to the previous facilities due to the acceptance of the instant obstacles, and thus, losses therefrom shall be governed by Article 73(1) or Article 75-2(1) of the Public Works Act.