A. E Co., Ltd. (hereinafter “instant company”) mainly aims at the development, manufacture, etc. of oil pressure components, etc. for outer space, and was dissolved pursuant to Article 520-2(1) of the Commercial Act on December 1, 201, which was established on June 22, 2001.

B. On February 1, 2008, the deceased F entered into a share acquisition agreement with the Defendant to transfer KRW 77,200 (hereinafter “instant shares”) of the instant shares to KRW 386,00,000 after maintaining the status of the largest shareholder and the representative director of the instant company (hereinafter “instant share acquisition agreement”).

The main contents of the instant share acquisition agreement are as follows.

The shares transferred to B (the defendant; hereinafter the same shall apply) by Article 1 of the Agreement on Acquisition of Stocks is 5,000 per share (the par value per share) and 77,200 shares issued by the Company.

Article 2 [Price for Acquisition by Transfer] The price for acquisition by transfer of 77,200 shares per share of Article 1 is 386,00,000 won in total.

Article 3 (Transfer of Share Certificates, etc.) A shall enter into a share acquisition agreement and deliver share certificates to B of the shares under Article 1 at the same time, and shall cooperate in the procedure for reorganization of shareholder's name.

C. The net F and the Defendant completed the transfer process to change the name of a shareholder on the shareholder registry of the instant shares in accordance with the instant stock acquisition agreement. Accordingly, the Defendant became the largest shareholder who held 94,600 shares totaling 17,400 shares of the instant company’s total outstanding shares (as of February 22, 2008) and the instant shares (as of February 22, 2008, approximately 42.42% of the total issued shares) among the total outstanding shares of the instant company.

After that, on February 21, 2008, the networkF resigned from the representative director of the instant company, and on the same day, the Defendant was appointed as the representative director of the instant company.

The networkF died around October 2008.

The heir of the network F is the plaintiff A and the plaintiff B and C, who are his spouse.