1. All of the plaintiffs' claims are dismissed.

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

1. Facts of recognition;

A. The C&C tourism industry (hereinafter “C&P industry”) is a company that operated a golf course (hereinafter “instant golf course”) with the trade name of “Safafafab club” on the land and its ground (hereinafter “instant real estate”) of Hong-dong, Hong-dong, and Hong-dong, Kim Jong-si, and of its ground (hereinafter “instant real estate”).

B. The C&C industry entered into a shareholder agreement with the Plaintiffs from August 30, 2007 to July 5, 2013 (hereinafter “each of the instant agreements”). After receiving money from the Plaintiffs as a stock price, it issued a shareholder agreement and a certificate of stock custody to the Plaintiffs. The main contents of each of the instant agreements are as follows.

Article 1 (Purpose)

(a)The purpose of this Convention is to provide for additional matters other than the rights and obligations between the preferred shareholders and the Company as provided in the Commercial Code and the relevant laws and regulations, and the portion not provided in this Convention shall be in accordance with the Commercial Code

B. The purpose of this Convention is to give preferential benefits to the preferred shareholders in using the instant golf course, and to provide matters necessary for the use of the instant golf course after acquiring the rights and duties of the preferred shareholders under this Convention by actively consenting to the policy and purport of the operation of the C&W tourism industry.

Article 5 (Transfer of Rights and Shares of Preferential Stockholders)

(a) Preferred Shareholder shall be granted the right to use in accordance with the investor operational rules only when the C&W is operating a golf course for the tourism industry;

(b) In principle, if there is competition between investors in accordance with this Convention with the terms and conditions of use of the golf course, the C&W shall allocate the right to use the golf course to the contractor with the priority under the terms and conditions of the C&W.

(c) Preferred Shareholders under this Convention shall be subject to a resolution of the regular shareholders meeting within the limits of distributable retained earnings at each period for the settlement of accounts (one time a year) specified by the Articles of Incorporation of the C&W.