1. The Defendant’s KRW 57,439,020 as well as the Plaintiff’s annual rate from January 17, 2015 to June 2, 2016.

1. Details of ruling;

(a) Business name and public notice - Business name: C District Housing Redevelopment and rearrangement project (hereinafter referred to as “instant project”) - Project implementer: Defendant - Public notice of project implementation authorization on July 26, 2012; and E public notice of July 18, 2013

B. Decision on expropriation made on November 28, 2014 by the Seoul Regional Land Tribunal on the date of expropriation - On January 16, 2015: Fluor 640 square meters (hereinafter “instant land”) owned by the Plaintiff and the obstacles indicated in attached Table 1 on the ground (hereinafter “instant obstacles” and the combination of the above land and the obstacles referred to as “instant land and obstacles”): Compensation: KRW 4,070,400 (unit price of KRW 6,360,000) for the instant land; KRW 718,923,390 for the instant obstacles.

C. Determination by the Central Land Tribunal on May 21, 2015 - Compensation: 4,101,440,000 won for the instant land (unit price of KRW 6,408,500,000 for the instant obstacles) and KRW 784,475,220 for the instant obstacles: An appraisal corporation; a new appraisal corporation; a central appraisal corporation; a stock company; a central appraisal corporation (hereinafter referred to as “an appraisal company”); the said appraisal is deemed to be an appraiser; the said appraisal is deemed to be an appraisal of an objection; the said appraisal result is deemed to be an appraisal of an objection; the said appraisal result is deemed to be a ground for recognition); the fact that there is no dispute on the instant appraisal; the Gap’s evidence 1,2, Eul’s evidence 2 (including each number); and the purport of the entire pleadings; and the purport

2. The assertion and judgment

A. The Plaintiff’s assertion 1) As to the instant land, the compensation should be calculated based on the result of the second appraisal by the court below on the following grounds. ① The base point of time for the compensation for losses on the instant land is the date of commencement of the expropriation ruling or the date of January 13, 2015, on which the Defendant deposited the Plaintiff the compensation based on the expropriation ruling with the Plaintiff. As such, the base point of time for the officially announced land price of the comparative standard land should be January 1, 2015, which is nearest to the date of commencement of the expropriation. However, the appraisal and this Court’s G appraiser (hereinafter