1. The plaintiff's appeal is dismissed.

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

Purport of claim and appeal

The first instance court.

Facts of recognition

A. The Plaintiff, a corporation established for the purpose of the development, sale, lease, investment, operation, etc. of real estate, and carried out the new construction of D’s land (hereinafter “instant land”) in Seopo-si C, etc. (hereinafter “instant land”).

B. All the Plaintiff’s shareholders were the Defendant (32.5%) who is China (32.5%), E, F, and G (22.5%).

C. From November 3, 2011 to May 8, 2014, the Defendant, established by the Plaintiff, served as the Plaintiff’s intra-company director and representative director, and performed the Plaintiff’s overall business.

On May 7, 2014, the Defendant entered into a contract with E, F, and G under which the Defendant transferred all of the Defendant’s shares, the Plaintiff’s loans, and the rights incidental thereto to E, F, and G in total at KRW 1,933,50,000 (hereinafter “instant acquisition agreement”).

Article 3 The amount of acquisition shall be the total amount of the Plaintiff's shares, the total amount of loans, and the amount of advisory fees and sales fees, and each value shall be the sum of the following items:

1. The transfer value of the Plaintiff’s share shall be KRW 200,000 ( KRW 200,000).

2. The value of the loan to the plaintiff shall be 44,500,000 won ( 444,500,000) .

3. The amount of the advisory fees and the sales commission shall be the sum of KRW 1,289,000,000,000 (in nex 1,289,000).

Article 4 The payment date and method of acquisition amount, the shares and loans of the defendant and the payment of advisory fees and sales fees shall be made in accordance with the following procedures:

Provided, That in the case of determining the amount of tax, the amount of tax payable shall be borne by the defendant.

1. The amount of shares transferred by the Plaintiff and the total amount of loans shall be paid until May 31, 2014.

2. The primary advisory fee and sales fee shall be paid on December 31, 2014 in cash with the same amount as the invested principal.

3. The second advisory fee and the sales fee are D. at the time of delivery scheduled to be enforced by Defendant A.