2. The costs of lawsuit shall be borne by the Plaintiff.

The fact that the plaintiff joined the defendant on December 21, 200 and served as the defendant's director on January 201, 2014 is no dispute between the parties.

Plaintiff’s assertion

On August 17, 2006, the Defendant held a temporary general meeting of shareholders and decided that “retirement allowances shall be paid within three months per year during which he/she holds office,” and on December 30, 201, the Defendant held a temporary general meeting of shareholders and decided that “retirement allowances and retirement allowance of 100 million won calculated within four months per year during which he/she holds office,” and that “retirement allowances and retirement allowance of 100 million won shall be paid every year during which he/she holds office,” but did not pay retirement allowances to the Plaintiff KRW 260 million (=5 million x 4 months x 13 years) and retirement consolation benefits.”

Therefore, the defendant is obligated to pay to the plaintiff KRW 360 million and damages for delay.

Judgment

Article 388 of the Commercial Act provides, “The remuneration of directors shall be determined by a resolution of the general meeting of shareholders unless the amount is determined by the articles of incorporation.”

The remuneration of directors referred to in this article includes all remuneration paid as compensation for the performance of duties, regardless of the name of a monthly salary, bonus, etc., and retirement or retirement allowance is also a kind of remuneration paid as compensation for the performance of duties while in office.

(1) In cases where a director’s remuneration or retirement allowance is determined by a resolution of the general meeting of shareholders, and there is no evidence to prove that there was a resolution of the general meeting of shareholders on the amount, payment time, payment method, etc. of the director’s remuneration or retirement allowance in the articles of incorporation, the director may not claim remuneration or retirement allowance.

(See Supreme Court Decision 2004Da25123, Dec. 10, 2004; 2004Da25123, Dec. 10, 2004). If the purport of the entire pleadings is added to the statement in the evidence No. 1, the Defendant’s articles of incorporation, as well as the remuneration for officers and the remuneration for officers or retirement allowances.