1. The plaintiff's appeal is dismissed.

2. The costs of appeal shall be borne by the Plaintiff.

Purport of claim and appeal

The first instance court.

1. Facts recognized;

A. Defendant B consented to offer 10,515.5/21,031 square meters of C forest land 21,031 square meters owned by the Plaintiff (hereinafter “instant equity interest”) as security by the Plaintiff. Of D forest land 44,188 square meters, Defendant B provided as security for 5,107/4,188 square meters of D forest land 44,188 square meters (hereinafter “instant equity interest”) without the Plaintiff’s permission. Defendant B completed the registration of establishment of a neighboring mortgage by the Taecheon District Court, Taecheon District Court No. 8028, Oct. 18, 2005, each of the maximum debt amount of KRW 50,000,000, the debtor B, Defendant B, and Defendant B-mortgage Co., Ltd.

B. When the above company applied for a voluntary auction on the shares Nos. 1 and 2 of this case, and the auction procedure on the shares Nos. 1 and 2 of this case was in progress according to the order to voluntarily commence auction on Nov. 4, 2005, Defendant B purchased shares No. 1 of this case on Nov. 22, 2005, and paid to the plaintiff 40 million won until Nov. 30, 2005, and the neighboring establishment registration on the shares No. 2 of this case was cancelled and agreed to be restored to its original state.

C. On September 12, 2006, the Plaintiff filed a claim against the Defendant, including the real estate price (Seoul Eastern District Court 2006Kadan64819) with the Seoul Eastern District Court to the effect that “The registration of the establishment of a neighboring mortgage on the shares of this case No. 2 was cancelled in accordance with the above restoration agreement, and the Plaintiff shall pay the said KRW 40,000,000 to the Plaintiff, and the damages for delay thereof,” and the Defendant was served around that time.

On February 13, 2007, the above court rendered a favorable judgment with the purport that "the part of the claim for cancellation of the registration of collateral security shall be dismissed, and the defendant shall pay to the plaintiff 40 million won with 5% interest per annum from December 1, 2005 to September 29, 2006 and 20% interest per annum from the next day to the day of complete payment."

(hereinafter referred to as the above judgment and its related claims are referred to as the “instant judgment” and the “instant judgment claim”.