1. The Intervenor’s Intervenor’s motion to intervene in the instant case is dismissed.

2. The plaintiff's claim is dismissed.

3...

1. Details of the disposition;

A. The Plaintiff’s golf club business is registered 1) The Plaintiff’s golf club business development company on board (hereinafter “Tai Tourist Development”).

() On September 28, 1989, the Governor of the Gyeonggi-do has obtained approval from the Governor of the Gyeonggi-do to build a golf course with the content of building a golf course with 156-1 of 18 holes in Gwangju-si, Gwangju-si. Around April 1994, the Governor of the Gyeonggi-do obtained approval to alter the business plan to additionally build 9 holes in 18 holes in 194, and completed the registration of a golf course business with the trade name "sports club" with the Governor of the Gyeonggi-do on the condition that the 9 holes of the above public golf course should be completed within 1 year and 6 months (hereinafter referred to as "the instant golf course").

(2) On the other hand, tourism development began with the commencement of voluntary auction procedure on the part of 18 holes and the building site of the instant golf course (hereinafter “instant golf course site and facility”) around October 199, upon the application of the mortgagee of the right to collateral security for tourism development, the said public golf course was not completed within a fixed period due to financial difficulties, etc., and eventually, due to management deterioration, the application by the mortgagee of the right to collateral security for tourism development on the instant golf course was initiated.

3) Meanwhile, 564 of the instant golf course members, who invested KRW 58,000,000 each of the instant golf course sites and facilities in order to obtain a successful bid, shall be deemed to have been a party to the instant golf course development (hereinafter “oar tourism development”).

The other members are the same purpose of the private placement of corporation(hereinafter referred to as 'private placement').

A) Each of the instant golf courses was established. On April 2001, the instant golf course site and facilities were awarded a successful bid on or around the instant golf course site and facilities. 4) After that, the Oral Tourism Development merged around June 25, 2001, and continued to conduct the instant golf course business from March 25, 2002.

5) On the other hand, on October 21, 2003, the development of overseas tourism is a corporation Shee and Shee Amateur Co., Ltd. (hereinafter referred to as "Shee et al.")

All the registration of the sports facility business concerning the instant golf course is made to the Company.