1. The plaintiff's appeal is dismissed.

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

The purport of the claim and appeal is the purport of the appeal.

1. The grounds for admitting the judgment of the court of first instance are as stated in the reasoning of the judgment of the court of first instance, except for the part that alters or adds as stated in paragraph (2) below, and thus, the relevant description shall be quoted in accordance with the main sentence of Article 420 of the Civil Procedure Act.

2. Parts to be altered or added;

A. The lower court changed the three to four lines as indicated in the first instance judgment below.

“The Plaintiff acquired the instant shares under the name of C on July 20, 2013, but terminated the title trust relationship, or acquired the said shares through a stock acquisition agreement on September 14, 2015, and thus, the Defendant is obligated to implement the transfer procedure for the instant shares to the Plaintiff.”

B. Following the third nine lines of the judgment of the court of first instance, the following portion of the “A” shall be added.

“The Plaintiff asserts that the provision of the articles of incorporation that limits the transfer of shares is contrary to the nature of the company, or excessively discriminates against the shareholder’s rights, and thus is contrary to public order and good morals. However, as seen earlier, the restriction of the transfer of shares by means of obtaining approval from the board of directors pursuant to the provisions of the Commercial Act and the articles of incorporation is not contrary to public order and good morals.

Furthermore, although the Plaintiff asserts that the above provisions of the articles of incorporation are invalid due to a defect without a special resolution, it is difficult to deem that there is any defect in the establishment and validity of the above provisions of the articles of incorporation in light of the aforementioned evidence

【】

C. Following the 3rd 12 line of the first instance judgment’s “no evidence exists to acknowledge this,” the witness C of the appellate court added “( difficult to believe that the testimony of the witness C of the appellate court, which seems consistent with the Plaintiff’s assertion, is difficult in light of the result of the personal examination of the Defendant representative director of this court).”

In the case of transfer of shares in the third 15 line of the judgment of the court of first instance, "in the case of transfer of shares, the change of shareholder's name is also transferred by a juristic act of cancellation of title trust."