1. The judgment of the first instance court, including a claim modified and reduced in the trial, shall be modified as follows:

The defendant.

1. Basic facts

A. The Defendant is a company established to engage in financial investment business, such as investment trading business, investment brokerage business, collective investment business, investment advisory business, and discretionary investment business, as prescribed by the Financial Investment Services and Capital Markets Act (hereinafter “Capital Markets Act”).

B. Around March 2011, the Defendant, working at the Dong-dong Central Branch of the Republic of Korea, was requested to recommend a safe product by D, the Plaintiff’s husband, with a higher return rate than the bank deposit interest rate.

C recommended D to look at the goods directly from E’s employees when recommending investment-oriented goods operated by E Co., Ltd. (hereinafter “E”).

C. Accordingly, on March 30, 201, the Plaintiff visited the Defendant’s pressure-free shop, and explained about the operation system, operational performance, etc. of the E-director’s products that are managed by E from the E-director F, and concluded a discretionary investment contract with E (hereinafter “instant discretionary investment contract”). On the same day, the Plaintiff entered into an option trading contract with the Defendant to use the instant discretionary investment contract for investment under the instant discretionary investment contract.

Meanwhile, the main contents of the instant discretionary investment contract are as follows.

Article 2 (Subject Matter of Discretionary Investment) In providing the Plaintiff with discretionary investment services, the subject matter of discretionary investment shall be any of the following:

1. KOSPI200 futures and options listed on the Korea Exchange;

2. Other financial investment instruments that the Plaintiff and E pre-consulted with each other, Article 12 (Responsibility for Management of Contract Assets and Reversion of Profit and Loss) of the Financial Investment Services and Capital Markets Act (the management of contract assets) is carried out in accordance with E’s judgment, and profits and losses arising from

Article 20 (Terms of Contracts) Details of contracts agreed upon with the Plaintiff and E are as follows:

1. Contract term: on January 201;