1. The instant lawsuit shall be dismissed.

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

1. Basic facts

A. On May 9, 2014, the Guluri City entered into a development agreement with the Guri Urban Corporation, NIAB, Inc., and the Defendant on the A development project (hereinafter “instant development agreement”) (hereinafter “instant development agreement”). The main content of the agreement is as shown in attached Table 1.

B. On October 19, 2012, Guri-si made a proposal for designation of a waterfront for the implementation of the instant project to the Ministry of Land, Transport and Maritime Affairs (former Ministry of Land, Transport and Maritime Affairs), and on December 7, 2012 at the request of the Ministry of Land, Transport and Maritime Affairs, the Guri-si announced a public inspection to hear residents’ opinions on the designation of a waterfront for the 1,721,723 square meters in Guri-si, Dong-si, Dong-dong, and Dong-dong. 2) On October 29, 2012, Guri-si announced that the instant project is subject to development restriction zones, such as cancellation of development restriction zones, and the criteria for permission for development activities are expected to be significantly changed accordingly (from October 29, 2012 to October 28, 2015).

After that, on April 30, 2015, the restricted area was changed from 1,99,243 square meters to 95,319 square meters, but the restriction on permission for development was cancelled on October 29, 2017.

3) Gyeonggi-do is the Special Act on the Utilization of Waterfronts on October 25, 2013 (hereinafter “Waterfront Act”).

(2) Pursuant to Article 39 of the former National Land Planning and Utilization Act and Article 117 of the former National Land Planning and Utilization Act (amended by Act No. 13797, Jan. 19, 2016), the project district of the instant case was designated as an area subject to permission for a land transaction contract of 1,721,723 square meters in Dong-si, Dong-dong, Dong-dong, and Dong-dong, which is a project district of the instant case, but on January 4, 2016, a public announcement was made on the cancellation of designation of 915,074 square meters in the said area subject to permission on October 29, 2016, on the ground of the expiration of the period on March 24, 2015.