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

A. C was in office as the representative director of D Co., Ltd. (hereinafter “D”) from December 19, 198 to November 2, 2012, and the Defendant adopted the joint representative director system on May 25, 2009 and registered C and E as the joint representative director from May 24, 2012 to May 24, 2012.

On the other hand, the defendant's business registration certificate issued on July 8, 201, which was written by the head of Western District Tax Office, was written as a representative C only.

B. On September 30, 201, C: (a) one copy of the Promissory Notes representing D, the face value of which is KRW 608,00,000; (b) September 30, 201; (c) September 29, 2011; and (d) June 29, 2012; (d) the date of payment; (c) the place of payment; (d) the place of payment; and (e) the place of payment; (e) the place of payment; and (e) the Promissory Notes in blank (hereinafter “instant Promissory Notes”); and (e) the Promissory Notes in turn, without the Defendant’s name and the Defendant’s joint representative E’s consent, issued to the Plaintiff an endorsement under the

C. On June 19, 2012, the Plaintiff presented the instant promissory note to the effect that it did not supplement an addressee at the place of payment, but was denied on the grounds of non-transaction on June 20, 2012.

[Reasons for Recognition] Facts without dispute, Gap evidence 1, Gap evidence 2-1, 2, Gap evidence 4, Gap evidence 6-1, 2, Eul evidence 1, Eul evidence 2, Eul evidence 2, the purport of the whole pleadings

2. The Plaintiff’s assertion and the Plaintiff asserted abuse of power of representation and director’s responsibility for self-transaction, but this constitutes a defense of the Defendant, and thus, does not make a separate determination.

The Defendant, as the endorser of a promissory note, is liable to pay the Plaintiff, who is the final holder, as the endorser of the Promissory Notes, is valid since C amended its articles of incorporation on April 22, 201 by amending its articles of incorporation as the representative director, and endorsement on the Promissory Notes in the name of the Defendant is valid. As such, the Defendant is liable to pay the said Promissory Notes

B. The liability C of the apparent representative director is the defendant.