1. Revocation of the first instance judgment.

2. The plaintiff's claim is dismissed.

3. All costs of the lawsuit shall be borne by the Plaintiff.

1. Details of the disposition;

A. B Co., Ltd. (1) on January 15, 2004 with respect to the registration of each of the instant lands: G forest land 14,448 square meters (hereinafter “forest land before division”) in G-si on the grounds of sale and purchase as of June 25, 2003 to J on January 15, 2004.

(2) On July 5, 2004, K forest land was registered as K on July 5, 2004. On the same day, K forest land was divided into 1,572 square meters, L forest land, 648 square meters, M forest land into 12,228 square meters due to partition of co-owned property.

J acquired 1,806/148 shares in the above K forest and 648 square meters of the above L, as co-owned property partition, (hereinafter “each of the instant land”).

3) As to each of the lands of this case, the debtor Y on the ground of the contract to establish a mortgage on the same day on August 19, 2004, and the registration of establishment of a mortgage on the Z (hereinafter the above mortgage on August 19, 2004) is the "mortgage-mortgage."

4) Each land of this case was modified on November 23, 2004 from K, L to AA, AB, and the name of the administrative district of this case was modified on October 31, 2005 to G, AC, and AD, the name of the administrative district of this case was respectively changed on October 31, 2005.

B. On August 19, 2004, the cancellation of the registration of the establishment of a neighboring mortgage and the establishment of the first and second collateral mortgage of this case 1) the Plaintiff was changed to the NAA on December 27, 2006.

hereinafter referred to as “AE Association”).

1) Loans of KRW 850,000,000 (hereinafter referred to as “the First Loans of this case”)

Upon receipt of the loan of this case, on August 19, 2004, the loan of this case was used to repay the secured debt of the right to collateral security on August 19, 2004. (2) The registration of establishment of a mortgage on August 19, 2004 was cancelled on the ground of termination on December 27, 2006. With respect to each of the land of this case, the registration of establishment of a mortgage on the land of this case was completed on December 27, 2006 by the debtor, the mortgagee AE Association, the maximum debt amount of 1,105,00,000 neighboring mortgage (hereinafter the above collateral security was referred to as the "mortgage of this case").

3. As to each of the lands of this case, the obligor was based on the contract to establish the same day on February 20, 2008.