1. The plaintiff A's lawsuit shall be dismissed.

2. The plaintiff Yangyang, Inc.'s claim is dismissed.

3. The costs of the lawsuit.

1. Basic facts

A. On November 20, 2012, the Plaintiffs completed the registration of creation of a mortgage on each real estate listed in the separate sheet (hereinafter “each of the instant real estate”) to the Defendant on November 20, 2012, with respect to the obligor and the maximum debt amount of KRW 370 million.

B. The Defendant applied for a voluntary auction on each of the instant real property, and the discretionary auction procedure was in progress to Suwon District Court Branch C (hereinafter “instant auction procedure”).

C. In the instant auction procedure, on November 5, 2014, the said auction court drafted a distribution schedule with the content that the Defendant distributes the amount of KRW 360,056,392 to be distributed on the date of distribution to the Defendant (hereinafter “instant distribution schedule”). D.

Plaintiff

On November 5, 2014, the two-dimensional Red Sea Belgium Co., Ltd. (hereinafter referred to as the "Plaintiff Co., Ltd.") stated an objection against KRW 93 million among the dividends against the Defendant on the aforementioned date of distribution, and the Plaintiff A did not appear on the said date of distribution.

E. On November 12, 2014, the Plaintiffs filed a lawsuit of demurrer against distribution of the instant case.

[Ground of recognition] Facts without dispute, Gap evidence 1, 2, Eul evidence 2 (including each number), the purport of the whole pleadings

2. The following facts are examined as to the legitimacy of Plaintiff A’s lawsuit, and the person entitled to standing to sue of a lawsuit of demurrer against distribution appears on the date of distribution on the date of distribution and files an objection against the distribution schedule with the creditor or the debtor. As seen earlier, Plaintiff A did not have filed an objection against the distribution schedule by attending the date of distribution of the instant auction procedure and raising an objection against the distribution schedule. As such, Plaintiff A’s portion of objection against distribution is unlawful since Plaintiff A filed an objection against the distribution schedule.

3. Determination on the claim of the Plaintiff Company

A. The amount of debt borne by the Plaintiff Company to the Defendant shall be 250 million won invested by the Defendant, jointly with the Defendant, to build a yellow soil house on each of the real estate of this case.