1. The plaintiff's claim is dismissed.

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

1. Basic facts

A. The status of the parties (hereinafter “Plaintiff”) was changed to Mexico Co., Ltd. on Apr. 30, 2009; hereinafter the Plaintiff (hereinafter “Plaintiff”) on Feb. 28, 2012, with the purpose of electronic parts, plastic shotry and golding, etc., and registered in the KOSDAQ Association on Dec. 31, 2002. The Defendant is a corporation established under the Financial Investment Services and Capital Markets Act to deal with the establishment and operation of the KOSDAQ and derivatives market; and the listing of securities.

B. On March 15, 2012, the Defendant designated the issue of management of stocks issued by the Plaintiff pursuant to Article 28(1)3-2 of the Regulations on Listing of the KOSDAQ on the grounds that business losses have occurred for the last four consecutive business years. 2) On August 15, 2012, the Defendant added the reasons for designating the issues of management in accordance with Article 28(1)4 of the Regulations on Listing of the KOSDAQ on the grounds that the capital erosion rate for the Plaintiff is 50% or more, and its equity capital is less than one billion won.

C. Article 21 of the corporate accounting standards (hereinafter “original accounting standards”) that provides for the preparation and indication of financial statements among the general corporate accounting standards (K-GP) that have been applied as the accounting standards from December 31, 2006 to December 31, 2010 shall be separately indicated on the income statement by classifying the sales cost, sales cost, gross profit and loss, sales expenses, sales expenses, profit and loss, operating profit and loss, non-business profit and loss, non-business expenses, etc., and the operating profit and loss shall be calculated by subtracting sales expenses and management expenses from the gross profit and loss (70.)” and from the fiscal year 2011 to the stock-listed corporation, they shall not be included in the operating profit and loss.