1. The plaintiff's claim is dismissed.

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

Basic Facts

The plaintiff was appointed as the representative director of the defendant on February 5, 1999 and was dismissed from office from office on November 22, 2005. The defendant is a company that conducts affairs such as civil engineering, construction, electricity, dredging, etc.

On October 5, 2005, the defendant's board of directors decided to submit a proposal to dismiss the plaintiff from office to the general meeting of shareholders. Accordingly, on November 22, 2005, the defendant's temporary general meeting of shareholders was held, and on November 22, 2005, a resolution was passed to dismiss the plaintiff from office with the consent of all shareholders (5,56,701 shares with voting rights).

(hereinafter “the instant resolution of dismissal”). At the time, the Defendant’s proposal of the temporary general meeting of shareholders (No. 8-2) on November 22, 2005 stated that “The grounds for dismissal against the Plaintiff include “in the process of performing the C, by means of personal corruption, abuse of authority, and exclusive work process, etc., and causing serious damage to the company” as the grounds for dismissal against the Plaintiff.

According to the resolution of dismissal of this case, the registration of dismissal of the director against the plaintiff was completed on November 25, 2005.

On April 7, 2015, the Plaintiff sent to the Defendant a certificate of content that “the Plaintiff shall claim retirement allowances for about six years and eight months from February 5, 1999, where the Plaintiff served as the Defendant’s representative director and vice-chairperson, to October 5, 2005.”

On the other hand, the articles of incorporation and the defendant's provision on the payment of retirement allowances for officers applicable at the time of dismissal of the plaintiff (hereinafter "the provision on retirement allowances in this case") are as follows.

[Articles of Incorporation, amended by Act No. 28 of March 17, 2005] Article 27 (Term of Office of Directors and Auditors) (1) The term of office of directors shall be three years.

However, if the term of office expires before the general shareholders' meeting for the last period for the settlement of accounts, it shall be extended to the closing of the general meeting.

Article 28 (Dismissal and Vacancy of Directors and Auditors) (1) The dismissal of directors and auditors shall be governed by Articles 385 and 415 of the Commercial Act.

§ 32. Directors.