Defendant

A shall be punished by a fine of 2.5 million won, by a fine of 4 million won, by a defendant B, and by imprisonment of 10 months.

Punishment of the crime

Defendant A is the president of the “F Area Housing Association in Jeonju-si,” established for the purpose of constructing apartment units on the 91 parcel of land outside the Seoul Special Metropolitan City, Jeonju-si E, and Defendant C is the representative director of the G Co., Ltd. who vicariously performs the duties of the said association, and Defendant B is the person who operates the said G Co., Ltd. jointly with the said G director C.

1. A person who violates the Housing Act against the Defendants shall not transfer, acquire or arrange “the status to be supplied with a house” before securing the ownership of the entire housing construction site of a regional housing association.

Defendant

C and B established a regional housing association on June 2008 to build apartment buildings on the 91 parcel of land outside the Seoul Special Metropolitan City E, the “Regional Housing Association Promotion Committee” was established, and entered into on November 17, 2008, the “YU” as the contractor of H as of November 17, 2008, and on November 30, 2009, the establishment of the said association was approved on November 30, 2009 by Defendant A as the head of the said association, but did not secure the ownership of six parcels of land in the project site, such as Jeonsi-gu I (owner J), K, L, M, N, N, andO (owner: Agriculture, Forestry and Fisheries Department).

Although Defendants are well aware of the fact that they should not transfer or take over the status of members or arrange for the transfer or acquisition of the above apartment because they are not recruited well, or that they did not secure the ownership of all of the above site because they are unlikely to pay part payments to the members of the association, and they are aware of the fact that they did not secure the ownership of all of the above site, the Defendants were willing to attract persons to transfer or take over the above apartment by using a licensed real estate agent, who is an employee

On February 22, 2011, Defendants A’s written confirmation of succession to rights and obligations to the effect that the Defendants transfer their membership status from R to S in the cooperatives and G offices located in the three-story Q building in the Jeonsan-gu Seoul Special Metropolitan City on February 2, 201.