1. The Defendant’s KRW 32,407,100 as well as 5% per annum from January 29, 2014 to March 31, 2016 to the Plaintiff.

1. Details of ruling;

(a) Project approval and announcement 1): B Housing redevelopment and rearrangement project (hereinafter “instant project”);

(2) Business area: A project implementer, such as the Seo-gu Seoul Special Metropolitan City Seo-gu 31,932 square meters (hereinafter referred to as the “instant business area”): The Defendant: (a) the public announcement of district designation on November 28, 2007 (Public Notice D), the authorization for establishment of the association on April 7, 2008, the authorization for the implementation of the project on March 5, 2012 (Public Notice E) and the authorization for the implementation of the project on December 26, 2012;

B. The subject matter of expropriation by the Special Metropolitan City Regional Land Expropriation Committee on July 29, 2013: ① the Plaintiff’s ownership of ① 310 square meters in Seo-gu, Gwangju, Seo-gu, Gwangju, ② G G 136 square meters in size, ③ H 11 square meters in size, ④ I large 255 square meters in size, ⑤ J 136 square meters in size, ⑤ K large 63 square meters in order (hereinafter “instant land”).

(2) Compensation for losses on each of the above lands: Compensation for losses on September 3, 2013: A unit price for expropriation on the attached Table 2 attached hereto, based on the arithmetic mean of each appraisal result of the central appraisal corporation and the Frail appraisal corporation (based on the arithmetic mean of each appraisal result of each appraisal result of the central appraisal corporation and Frail appraisal corporation) on the attached Table 1 appraisal report of KRW 86,245,90 on land;

C. The Central Land Tribunal shall dismiss the Plaintiff’s objection (hereinafter “appraisal”) based on the result of each appraisal by an appraisal corporation (the date appraisal corporation, and the Korea Appraisal Board) based on the attached Table 1 appraisal report on December 19, 2013, respectively, of the said appraisal report (hereinafter “an appraisal corporation”)

D. The result of a request for market price appraisal with respect to each of the instant land by the court appraisal with respect to each of the instant land to an appraiser and appraisal corporation (L Appraisal Corporation (O), N Appraisal Corporation (O), PAppraisal Institute, R Appraisal Office (S), and hereinafter referred to as “court appraiser”) of this Court is as indicated in the attached Table 1 appraisal report.

[Ground of recognition] Unsatisfy, Gap evidence Nos. 1 to 5, Eul evidence Nos. 1, 2 and 3 (including paper numbers) and the court appraiser of this Court respectively.