A. The defendant is a stock company with the objective of investing in founders, venture businesses, etc.

B. On August 9, 2017, the Plaintiff was appointed as the Defendant’s internal director and representative director.

However, the defendant dismissed the plaintiff from office on June 17, 2019 by a resolution of the general meeting of shareholders.

[Ground of recognition] Facts without dispute, Gap evidence 1, 2, Eul evidence 1, Eul evidence 6-1, Eul evidence 6-2, the purport of the whole pleadings

2. The assertion;

A. Although the Plaintiff’s articles of incorporation set a three-year term of office, the Defendant was dismissed before the expiration of the Plaintiff’s term of office without justifiable grounds. As such, pursuant to the proviso of Article 385(1) of the Commercial Act, the Defendant is obligated to compensate the Plaintiff for remuneration of KRW 166,60,000 for 14 months from June 2019 to July 2020 (=11,900,000 per month x 14 months).

B. The Plaintiff, while promoting the Defendant’s investment business, did not receive investments and incurred losses only.

Accordingly, there is a justifiable reason to dismiss the plaintiff as a director.

3. Determination

A. 1) The Defendant provided support to the “D 2017 fourth investment business” solicited by C Co., Ltd. The Plaintiff prepared its proposal, and five persons, including the Plaintiff, etc. are teams in exclusive charge of management. C Co., Ltd. assessed and selected Defendant as one of the fund managers on February 7, 2018. Accordingly, the Defendant agreed to receive KRW 10 billion from D, receive KRW 9.8 billion from the Defendant’s affiliates, and contribute 200 million from the Defendant’s 20 billion won to the Defendant’s 20 billion investment amount (hereinafter “Mediation Fund”).

A) The Plaintiff forms and operates an investment business. The Plaintiff was in charge of the shipbuilding business investment project while in office as a director. The period of investment in the shipbuilding business fund is three years, eight years, and the Defendant is in charge of the management fee. 2.5% per annum (500,000,000 won) of the amount of investment agreement for three years as a manager.