1. All of the plaintiffs' claims are dismissed.

2. The costs of lawsuit are assessed against the plaintiffs.

1. Basic facts

A. The E Urban Environment Improvement Association Establishment Promotion Committee (hereinafter “instant promotion committee”) is an association establishment promotion committee composed of two hundred and twenty thousand square meters in Busan Metropolitan City, the FF Daegu, for the purpose of establishing an association to implement the urban environment rearrangement project (hereinafter “instant project”), and obtained approval from the head of the Busan Metropolitan Government Maritime Government on February 27, 2006.

B. On October 3, 2005, Plaintiff A was the chairman of the promotion committee at its inaugural general meeting of the promotion committee of this case, and Plaintiff B was elected respectively as the president of the association at its inaugural general meeting of the E Urban Environment Improvement Project Association (hereinafter “instant association”) on August 5, 2009.

C. Around January 2005, the KG Co., Ltd. entered into a joint project agreement with the prop representative in the instant project implementation zone, and thereafter I Co., Ltd. and the Defendant (former Co., Ltd., H: hereinafter the same shall apply) succeeded to the rights and duties based on the said joint project agreement of the KG in succession. The instant promotion committee succeeded to the rights and duties based on the said joint project agreement of the prop representative by the KG Co., Ltd., I Co., Ltd., and the Defendant jointly carried out the instant project with the instant promotion committee until June 2015.

Plaintiff

A was elected as the chairman of the committee at its inaugural general meeting of the committee of this case, and held office until June 24, 2013, and Plaintiff B was elected as the representative of the association at its inaugural general meeting of this case and held office until March 27, 2013.

E. The instant promotion committee was dissolved around October 2015 without completing the instant project and eventually failed to obtain authorization to establish the association of the instant association.

F. The method of the instant project thereafter is the owner of the land, etc. (referring to the owner of the land or building located within the zone where the instant project is implemented or the owner of the land or building located within the zone where the project is implemented; hereinafter the same shall apply).