All of the plaintiffs' primary claims and conjunctive claims are dismissed.

The costs of lawsuit shall be borne by the plaintiffs.

Basic Facts

A. Defendant C Regional Housing Association (hereinafter “Defendant Association”) is an organization established to carry out a new business (hereinafter “instant multi-family housing”) that newly constructs and sells 7 apartment houses (multi-family housing) of 28 stories above ground on the site of the business of 34,993 square meters in Ansan-si E in Ansan-si in accordance with the Housing Act according to the provisions of the Housing Act. Defendant D Co., Ltd. (hereinafter “Defendant D”) entered into a contract with the Defendant Association to vicariously carry out the instant business affairs with the Defendant Association.

B. In around 2017, the Plaintiffs (i.e., the Defendants and the Defendant Association to enter into a subscription agreement, and (ii) paid the allocated amount and the expenses for vicarious performance of their duties, and (iii) concluded a subscription agreement with the Plaintiff to sell the instant multi-family housing, and (iv) Plaintiff A paid KRW 27,888,000 to the Defendants, and Plaintiff B paid KRW 28,567,00 as the Defendants’ contributions and the expenses for their duties. The main contents of each subscription agreement are as follows.

Indication of the subject matter [a summary of the project of the Regional Housing Association in Ansan-gu I Dong C]

1. Site area: 34,993 square meters;

2. Total floor area: 93,460 square meters;

3. Scale / The number of households: Article 5 (Delegation of Authority to Business) of the 680 household units from 2nd to 28th underground floors, Section 5 (Delegation of Authority to Business) "B" recognizes the representative of "A (Defendant Union)", and the following shall be delegated to "A (Defendant Union)" and "B (Plaintiff)" with the authority and project implementation:

1. Overall management of the affairs of the housing association (including authorization for the establishment of the association, composition of the association, design and authorization work, management of the association members, management of the fund for operation of the association, designation of the same housing number, and all other work related to the promotion of the project); 10. Other work incidental to the promotion of the project (disqualification, cancellation, and compensation for damages) (1).