1. The Defendants jointly and severally liable to the Plaintiff for KRW 100,000,000 and KRW 20,000 among them, Defendant Co., Ltd.

1. Facts of recognition;

1. In order to resolve various issues related to the Yangp golf club, the Plaintiff shall implement the following Paragraph 2, and at the same time pay 37 billion won to the Defendants. The details thereof shall be KRW 4.5 billion in total acquisition price for underground water permission and its affiliated facilities, KRW 3.5 billion in total acquisition price for underground water, KRW 3.5 billion in total, business rights, and other matters.

(F) The above agreement fee and acquisition fee are set forth in the following: (a) the agreement fee and acquisition fee are to solve the issues relating to the quantitative TPC golf clubs between the Defendants and the Plaintiff; and (b) the agreement is to only extend the assets relating to the quantitative TPC golf clubs owned by the Defendants to the Plaintiff

The Defendants simultaneously transfer the following rights and documents to the Plaintiff at the same time with the payment of the amount under Paragraph 1 from the Plaintiff.

All of the business permit rights (approval rights) related to the approval of the business plan for the membership golf club business in the attached list owned by the Defendants (Interim omitted)

F. The Defendants, including all of the amount approved by the relevant agencies and all rights and relevant documents related to the approval of additional investment cost (Article 8 billion won) invested in Defendant Si Industrial Development, etc. (hereinafter “Defendant Si Industrial Development”), shall transfer the said assets and relevant documents, etc. to the Plaintiff. However, if any rights and documents not listed above are subsequently discovered, if they are related to golf course business in accordance with the principle of good faith, they should be transferred.

(hereinafter omitted)

A. On July 20, 2006, conciliation was concluded between the Plaintiff and the Defendants with the following main contents in the instant court 2006Kahap268 Provisional Disposition against Business Prohibition:

(hereinafter “instant conciliation”). B.

On July 20, 2006, the Plaintiff paid the agreed amount to the Defendants following the instant conciliation, but the Defendants did not transfer to the Plaintiff the documents, etc. for approval of investment under the instant conciliation clause (2).

C. In order to obtain the said non-approval documents, etc., the Plaintiff is heading in Suwon District Court Decision 2007No.828.