1. All of the plaintiffs' claims are dismissed.

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

1. Basic facts

A. On December 23, 2008, the Defendant, as an implementer of an urban development project in H urban development zone, publicly announced a substitute land compensation plan in H urban development zone as follows pursuant to Article 63 of the former Act on Acquisition of and Compensation for Land, etc. for Public Works Projects (amended by Act No. 10239, Apr. 5, 2010; hereinafter “former Land Compensation Act”).

(hereinafter “instant public notice”)

2. The standard area for compensation by substitute land within 13,316,400 square meters for each person within 1,100 square meters of commercial block (J) within 40,000 square meters in the standard area for compensation by substitute land for substitute land, the scale of compensation by substitute land, the scale of compensation by substitute land for substitute land, the scale of compensation by substitute land for substitute land for which compensation by substitute land for substitute land is estimated (one square meter per one square meter) shall be flexibly within 1,100 square meters, and shall be determined separately according to the result after receipt of the application.

The price of the land to be compensated by substitute land is estimated, and the estimated amount is calculated by multiplying the appraisal value determined and assessed under the land utilization plan condition by the average successful bid rate of the commercial land in the K area.

The actual supply price of substitute land for compensation shall be the price calculated by multiplying the appraisal price by the average successful bid price of the same block for the relevant district during the expected period of supply.

The expected time of supply of substitute land for compensation shall take precedence over the general sale and thereafter supply them.

4. Methods of compensation by substitute land

(a) If a person eligible for compensation applies for substitute land, he/she shall select the person and enter into a contract to sell a site for compensation for the amount of compensation for the land which is created on the district concerned, and then will implement substitute land compensation by later supplying (contract to supply) the land which is created on the district concerned after transferring the ownership of the land in our name.

(b) A contract for the supply of land as compensation and as from the date of cash payment under a contract for the sale of land.