The appeal is dismissed.

The costs of appeal are assessed against the defendant.

The grounds of appeal are examined.

1. According to Article 15(1) and (3) of the former Rental Housing Act (wholly amended by Act No. 8966 of Mar. 21, 2008), Articles 13(3) and 9(5) of the former Enforcement Decree of the Rental Housing Act (wholly amended by Presidential Decree No. 20849 of Jun. 20, 2008), and Article 3-3(1) of the former Enforcement Rule of the Rental Housing Act (wholly amended by Ordinance of the Ministry of Land, Transport and Maritime Affairs No. 19 of Jun. 20, 2008), the pre-sale conversion price should be calculated in accordance with the above Enforcement Rule [Attachment 1] for calculating pre-sale conversion price for public rental housing (wholly amended by Presidential Decree No. 20849 of Jun. 20, 2008) when selling to tenants public rental housing constructed with funding from the National Housing Fund or constructed on a housing site developed by a public project for lease in preference to other tenants.

In addition, the standard of calculation of this case is the average of the construction cost and the appraised value of rental housing for five years (paragraph (1) (b). Here, the construction cost is calculated as the "self-interest on the housing price at the time of the initial recruitment of occupants - depreciation cost" and the housing price at the time of the initial recruitment of occupants shall be calculated by the person entitled to approve the invitation of occupants based on the construction cost and housing site cost (paragraph (2) (a) (i). Of them, the housing site cost shall be the supply price if the housing site is developed and supplied by the State, a local government, and a public institution, such as the Korea Land Corporation, etc. (hereinafter referred to as the "public housing site") under Acts, such as the Housing Site Development Promotion Act (hereinafter referred to as the "Article 2 (2) (a); hereinafter referred to as the "Article 2 (a)), and if the rental business operator acquires or owns the housing site (hereinafter referred to as the "business-owned housing site"), the person authorized