1. The plaintiffs' primary claims are dismissed.

2. The defendant shall pay to the plaintiff A KRW 23,367,950, and KRW 23,415,783, respectively.

1. Basic facts

A. The defendant is a union consisting of land owners in the above development zone to implement an urban development project through a replotting method for Pyeongtaek-si E, and the plaintiffs are those who were the defendant's members.

B. A resolution on investment and the Plaintiffs’ investment 1) The Defendant adopted a resolution on the agenda that “the board of directors held on December 12, 201, held on 15:00 and the board of representatives held on December 23, 2011, in cash within the limit of KRW 2 billion, to secure business funds and the operating expenses of the partnership, and distribute dividends to the said invested partners by selling the land secured for recompense of development outlay after authorization of a replotting plan, and if dividends are distributed within two years, 300% including the principal of the investment shall be paid, and the amount exceeding 10% per annum shall be paid every one year, and shall not exceed a maximum of 50% per annum” (hereinafter referred to as “resolution on investment by the partners”).

(2) On March 21, 2012, Plaintiff A paid KRW 50 million to the Defendant; KRW 17 million on March 29, 2012; KRW 17 million on March 29, 2012; KRW 117 million on March 30, 2012; Plaintiff B paid a total of KRW 150 million on March 21, 2012; KRW 20 million on March 23, 2012; KRW 17 million on March 23, 2012; KRW 17 million on March 29, 2012; KRW 37 million on March 21, 2012; and KRW 37 million on March 21, 2012, Plaintiff C paid a total of KRW 17 million on March 21, 2012; and KRW 37 million on March 27, 200, respectively.

C. A lawsuit is filed to seek confirmation of invalidity with respect to a resolution of conversion of loans made by one member of the association on August 30, 2012. It is reasonable to view the investment made by an association member as an investment loan rather than a monetary loan. Although the Urban Development Act does not explicitly prohibit an investment made by an association member of the association, it plans the loan, dues, and contributions to the association through the method of raising business expenses of the association. The entire replotting method does not specify the concept of creation of profits through an urban development project, and the dividend equivalent to 300 to 500% of the investment made by the association member requires an urban development project project cost, etc.