1. The plaintiffs' appeal is dismissed.

2. The costs of appeal are assessed against the Plaintiffs.

Purport of claim and appeal

The first instance court.

1. Basic facts

A. Co-purchase of the instant land and construction of the instant building: (a) the Plaintiffs, the Defendant, and D agreed to purchase the instant land and construct a new building on the said ground, and sell it to a third party for profit-sharing; and (b) each land listed in [Attachment List 1 through 4] from July 7, 2005 to E (hereinafter “instant land”).

(2) On September 27, 2005, the Defendant purchased KRW 1.05 million, and completed each of the above four shares of each of the instant land on September 27, 2005. (2) On September 27, 2005, the Defendant provided the instant land as collateral and received a loan of KRW 200 million from the old U.S. Mutual Savings Bank, and paid the purchase price for the Defendant’s share with the loan.

(3) After June 2006, each of the instant partners listed in attached Tables 5 through 8 (hereinafter “instant building”) on the instant land (hereinafter “instant building”) following the joint purchase of the instant land by the Plaintiffs, the Defendant, and the instant partners, who jointly purchased the instant land (hereinafter “instant partners”).

B) A new construction was made. B. The instant partner entered into a sales contract and rescinded the instant contract around May 2007, sold the instant land and the instant building to F and G for KRW 2.5 billion. The said purchaser, who received a loan to the instant land and the instant building as collateral, paid part of the purchase price, but failed to pay the remainder normally. Accordingly, the instant partner did not pay the remainder normally.

(C) The instant partner rescinded the instant sales contract. After concluding the instant sales contract, on August 29, 2008, the instant partner sold part of the instant land and the instant building in KRW 2.5 billion to H outside third parties, and completed the registration of ownership transfer as to the said part on October 1, 2008, and on August 14, 2012, sold the remainder to I in KRW 212.5 million and completed the registration of ownership transfer as to the remainder to I around that time (hereinafter each of the instant parts).