(a) Establishment of a mining foundation and the scope of its constituent elements;

(b) Whether each mining right that constitutes a mining foundation may be individually sold;

(a) Where a mining right holder establishes a mining foundation to make it the object of a mortgage, the mining right holder may choose at his own discretion the scope of its constituent elements from among those provided for in Article 4 of the Mining Foundation Mortgage Act;

(b) Upon request of the mortgagee, the court may order auction or bidding individually each mining right constituting the mining foundation.

Article 3 of the Mining Foundation Mortgage Act; Article 4 of the Mining Foundation Mortgage Act; Article 5 of the Mining Foundation Mortgage Act; Article 30 of the Factory Mortgage Act;

Large Mining Development Corporation

Chuncheon District Court Decision 72Ra14, 15 delivered on July 26, 1972

The reappeal is dismissed.

As to the ground of re-appeal:

The term "mining foundation" is the same as the theory of the lawsuit that it means a group of enterprise property composed of the equipment to mine and acquire minerals, and the equipment to conduct incidental business, on the basis of the mining right, but according to the provisions of Articles 3 and 4 of the Mining Foundation Mortgage Act and the provisions of the Factory Mortgage Act applied mutatis mutandis pursuant to Article 5 of the same Act, in establishing a mining foundation for the purpose of mortgage, a mining right holder shall not necessarily have to establish a mining foundation for the purpose of mortgage, but the mining right holder may choose at his own discretion from among those provided for in Article 4 of the Mining Foundation Mortgage Act, the scope of its constituent property shall be selected from among those provided for in Article 4 of the Mining Foundation Mortgage Act, and if a mining foundation is composed of several mining rights, the court may order the individual auction or bidding of each mining foundation which constitutes the mining foundation at the mortgagee's request (Article 5 of the Mining Foundation Mortgage Act and Article 30 of the Factory Mortgage Act).

However, according to the formation contract of the right to collateral security, the mining foundation register, the mining foundation register, and the original register of the mining foundation, this case consists only of mining rights, and the above installations are not composed thereof, and the auction court shall decide to commence an auction only with respect to the mining rights of No. 24554, No. 24555, No. 24556, and No. 24557, Nov. 14, 1971, which constitute the mining foundation, and there is an obvious error in the decision to commence an auction on Jan. 24, 1972. Accordingly, it is clear that the list of the remaining mining rights which constitute the above mining foundation should be added to the list of the above decision to commence an auction on Feb. 14, 1972.

Therefore, when the auction court decides the commencement of the auction procedure of this case, it cannot be deemed unlawful even if the court did not issue an order to commence an auction procedure for the establishment of the mining foundation as a whole with the timely mining right or ordered an individual auction procedure for only the mining right of this case on February 14, 1972. Thus, the above institution is also a constituent element of the mining foundation, and there is no reason to discuss the original decision as the object of the commencement decision prior to the above decision of correction, and there is no reason to discuss the original decision as the object of the commencement decision prior to the above decision of correction, and the precedent of the lawsuit cannot be a legitimate ground for objection against the decision of commencement of auction as to the object of auction, and there is no error of law such as the theory of lawsuit.

Therefore, the reappeal is without merit, and it is so decided as per Disposition with the assent of all participating judges.

Justices Lee Young-op (Presiding Justice)