1. The defendant's appeal is dismissed.

2. Of the appeal costs, the part arising between the Plaintiff and the Defendant is the Defendant.

1. The defendant's grounds for appeal citing the judgment of the court of first instance are not different from the allegations in the court of first instance (the defendant's grounds for appeal pointing out whether the obligation to pay fees arises or not are basically the same as the defendant's grounds for appeal), and according to the evidence duly adopted and investigated by the court of first instance, the fact-finding and judgment of the court of

Therefore, the reasoning of the judgment of this court is partly amended as follows, and the defendant joining the defendant (hereinafter referred to as the " participant")'s assertion on the scope of the obligation to pay fees is identical to the ground of the judgment of the first instance except for adding "judgment on the intervenor's argument" to "judgment on the intervenor's argument" as to the defendant joining the defendant (hereinafter referred to as the " participant"), and therefore, it is acceptable in accordance

The “J” in the judgment of the first instance shall be deemed to be an intervenor.

B. Five and six pages of the judgment of the court of first instance are as follows: “A evidence 1 to 13” means “A evidence 1 to 13 (including numbers; hereinafter the same shall apply).”

C. Each of the 5th and 6th of the judgment of the court of first instance shall be considered as a witness of the court of first instance, respectively.

2. Judgment on the Intervenor’s assertion

A. The Intervenor’s assertion 1) The instant stock transaction is a financial investment (investment brokerage) transaction under the Financial Investment Services and Capital Markets Act (hereinafter “Capital Markets Act”).

Article 11(Prohibition against Unauthorized Business Conduct) of the Capital Markets Act provides that “no person shall engage in financial investment business unless it obtains authorization for a financial investment business under this Act.” Article 71(Prohibition 7) provides that “investment traders or investment brokers shall not engage in any act that is likely to undermine the protection of investors or sound trade practice and that is prescribed by Presidential Decree.” Article 68(5)3 of the Enforcement Decree of the Capital Markets Act provides that “investment traders or investment brokers shall not engage in any act that is likely to undermine the protection of investors or sound trade practice.”