1. The plaintiff's appeal is dismissed.

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

Purport of claim and appeal

The first instance court.

1. Basic facts

A. On April 30, 2008, the Defendant received a contract for construction cost of KRW 12.7 billion (excluding value-added tax) from D Association established by owners of land outside and outside 27 parcels of Gwanak-gu in Seoul Special Metropolitan City and its members, and completed the construction on September 30, 2009.

B. On November 10, 2011, the defendant filed a lawsuit against the above union and its members (Seoul Central District Court 2010Gahap86780), and rendered a judgment that "F among the union members shall pay the defendant KRW 2,236,979,50 (the above union and the remaining union members shall be jointly and severally with F) and the delay damages therefor," which became final and conclusive around that time.

(hereinafter referred to as “this case’s construction cost claim”) recognized in this judgment.

On the other hand, on November 15, 201, the Plaintiff completed the registration of creation of a collateral on the part of G (i.e., debtor G, maximum debt amount of KRW 665 million on the ground of a contract establishing a collateral security on October 20, 201 with respect to the establishment of a collateral security (i.e., the maximum debt amount of KRW 1/20,000,000 for the same day) as the debtor G, the maximum debt amount of KRW 35 million on the ground of the contract establishing a collateral security (i.e., the instant apartment) among the instant apartment units on November 202, 201. On November 23, 2011, the Plaintiff completed the registration of the establishment of a collateral security with respect to G shares (i/20) as of the same day on the same day.

(hereinafter “each of the instant mortgages” and “the establishment registration of each of the instant mortgages”). D.

The Defendant paid KRW 16,763,930 to the Plaintiff, a mortgagee, out of KRW 31,112,131, the amount to be actually distributed, excluding the execution expenses, as of March 20, 2013, as to the instant 202, the Seoul Central District Court B (hereinafter “instant auction case”); and KRW 12,107,565,92 to the Defendant, a applicant creditor, who is a mortgagee, as to the amount of dividends of KRW 4,656,368, and KRW 231,495,922.