1. The Plaintiff:

A. Defendant B is the Jeju District Court on March 5, 2003 with respect to each real estate listed in the separate list of real estate.

1. Facts of premise;

A. On August 7, 1964, the Plaintiff completed the registration of ownership transfer with respect to each real estate listed in paragraph (1) of the annexed list of real estate, and each real estate listed in paragraphs (2) and (3) of the same list on February 13, 1992.

(hereinafter referred to as "real estate 1, 2, and 3" in the order. (b)

The Defendant Special Timber against the Defendant Co., Ltd. (hereinafter “Defendant Wood”) completed the registration of the establishment of a neighboring public corporation, which is a debtor, as the Jeju District Court No. 65859, Dec. 14, 1994, with respect to the real estate No. 1-3. 65859.

C. D completed the registration of creation of a mortgage on the first-third real estate as the Jeju District Court No. 19274, Mar. 5, 2003, the maximum debt amount of KRW 600,000,000, and the Plaintiff’s neighboring mortgage, the debtor. As to this, the Defendant B completed the additional registration on May 24, 2003 prior to the establishment of a mortgage.

Defendant C completed the registration of the establishment of a mortgage over the real estate from No. 1 to 3 as the Jeju District Court No. 17849, Mar. 10, 201, the maximum debt amount of which was KRW 60,000,000, and the Plaintiff, the debtor.

E. The Plaintiff’s timber against the Defendant on the first and third real estate of the Defendant’s timber.

The lawsuit filed for cancellation of the registration of the establishment of a neighboring mortgage as stated in the port and won the judgment (the Jeju District Court Decision 200Da3373). The judgment became final and conclusive as it is.

[Ground for Recognition]: Facts without dispute, entry of Gap 1 and 2 evidence (including more than one number), the purport of the whole pleadings

2. Determination

A. The Plaintiff asserts that each collateral obligation of the registration of creation of a new collateral on the real estate 1-3 does not exist from the beginning. In the event that the Defendant B-mortgage transferred to the Defendant B-mortgage, the supplementary registration is subordinate to the registration of creation of a new collateral, which is the principal registration, and ex officio cancelled following the cancellation of the principal registration, the Plaintiff’s claim for cancellation of the registration of establishment of a new collateral security against the transferee.

(Supreme Court Decision 95Da7550 delivered on May 26, 1995). However, it is argued that the secured debt of the right to collateral security was legally acquired.