1. The defendant's appeal is dismissed.

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

Purport of claim and appeal

1..

1. Basic facts

A. The Plaintiff and the Defendant performed activities to establish a cooperative from around 2008.

In 209, the Plaintiff and the Defendant invested KRW 50 million from D, KRW 30 million from E, and KRW 10 million from F in order to establish the above cooperative, and decided to appoint D, E, and F as directors when the above cooperative is established in the future.

B. On June 21, 2010, the Plaintiff and the Defendant wish to deposit the total amount of KRW 50 million to D and E for additional investments by July 15, 2010. If the Plaintiff and the Defendant did not deposit the said amount or did not intend to deposit it, the Plaintiff and the Defendant will refund the remaining 70% investment amount excluding the business activity expenses (30%) related to the establishment of the cooperative. If re-investment is made after receiving the refund, they shall be treated as priority, and the amount of investment shall be KRW 50 million as in the previous case.

C. On the other hand, on June 28, 2010, the Plaintiff and the Defendant entered into an agreement with the Plaintiff and the Defendant on the following terms: (a) regarding the establishment of the said cooperative and the refund of investments to investors, etc.: (b) the amount of 70% remaining after the deduction of activity expenses (30%) with respect to the shares of directors of the instant investors (hereinafter “instant investors”) shall be refunded to the Plaintiff and the Defendant at 50%:50%; (c) on the other hand, the said agreement provides that “if the said cooperative is to be refunded to investors, the amount of investment shall be certified only if the amount of investment is paid in total of 50,00 won (hereinafter “instant agreement”).

On January 14, 2013, the Plaintiff filed a lawsuit against the Defendant ( Daegu District Court 2013Gadan567) claiming that “The instant investors shall pay KRW 31,50,000,000,000,000,000,000 to the Plaintiff.” As such, the Defendant filed a lawsuit against the Plaintiff seeking payment of KRW 31,50,000,000 against the Defendant (Seoul District Court 2013Gadan567) by June 30, 2013, stating that “The instant investors demand the Plaintiff to return KRW 63,00,000,000,000,000,000,000,000,000 won, which is KRW 63,50,000,000,000).”