All appeals are dismissed.

The costs of appeal are assessed against the defendant.

The grounds of appeal are examined.

1. Regarding ground of appeal No. 1

A. The phrase “in relation to the performance of affairs,” which is the requirement for an employer’s liability under Article 756 of the Civil Act, means that if an employee’s unlawful act objectively appears to be related to the employee’s business activities, performance of affairs, or performance of affairs, it shall be deemed that the employee performed affairs without considering the actor’s subjective circumstances. Whether it is objectively related to the employee’s performance of affairs should be determined by considering the degree of the employee’s inherent duties and tort, and the degree of the employee’s risk of damages and the degree of the employer’s

(see, e.g., Supreme Court Decision 2007Da75921, May 14, 2009). In addition, even in cases where an employee’s tort appears to fall under the scope of an employer’s execution of clerical work, where the victim himself/herself knew of, or was unaware of, the fact that the employee’s act does not constitute an employer’s performance of clerical work, the employer is not liable

The "major negligence of the victim who is exempted from the employer's liability" refers to a situation in which it is deemed reasonable to view that there is no need to protect the victim from the perspective of fairness as being in violation of the duty of care required by the general public by believing that the act of the employee was an act within his/her authority, even though he/she could have known that the act of the employee would not have been lawfully performed within his/her authority if he/she had done so.

(see, e.g., Supreme Court Decision 2012Da61377, Apr. 10, 2014). B.

For reasons indicated in its holding, the lower court: AD, which is the Defendant’s AF branch head of the Banking Team, deceivings the Plaintiffs; and is a name for the Defendant’s investment in financial products from the Plaintiffs.