The defendant is a financial investment business entity with the purpose of investment brokerage as stipulated in the Financial Investment Services and Capital Markets Act (hereinafter "Capital Markets Act"), and was an affiliate of the J group, which is a business group comprised of Co., Ltd. G (hereinafter "G"), H Co., Ltd. (hereinafter "H"), and I (hereinafter "I"), and was incorporated into K's affiliate from June 11, 2014.

On June 19, 2013, G Co., Ltd., an affiliate affiliate company, issued non-guaranteed option bonds of each credit assessment class BB0 on July 17, 2013, July 267, 2013, and August 28, 2013 (referring to bonds issued by a bond holder with an early claim for payment of principal and interest on bonds to the issuing company, if the bond holder is different from the maturity date after the issuance date) by each general public.

[hereinafter referred to as "G company bonds". The credit rating for Korean corporate bonds, the credit rating for the Korean credit rating and the Age Credit Information Bank Co., Ltd. was BB from January 1, 2008 to December 7, 2012. From December 7, 2012, BB was demoted to BB from June 14, 2013, BB-ro (Korean Credit Rating) from June 14, 2013, and from September 11, 2013, BB-ro (Korean Credit Rating), and B (Korean Credit Rating) were demoted.

H on March 28, 2013 and April 29, 2013, respectively, issued the corporate bills of each credit assessment rating B (hereinafter “CP”), July 5, 2013, August 2, 2013, and August 12, 2013, respectively.

The credit assessment rating of the Korean Corporate Assessment and Age Credit Information HCP was B around June 30, 2010, and was demoted on December 26, 2012, and the credit assessment rating of the STB was B on April 22, 2013, and was B-B on September 11, 2013.

I issued the CP B and the STB on August 13, 2013, respectively, on March 8, 2013.

Korea Credit Assessment and.