1. The plaintiff's appeal is dismissed.

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

Purport of claim and appeal

[Claim]

In the first instance court, the Plaintiff sought payment of KRW 188,100,000 for retirement allowances calculated in accordance with the Defendant’s executive remuneration and retirement allowance payment provision (hereinafter “instant provision”). The first instance court recognized only KRW 76,214,492 for retirement allowances calculated in accordance with the Defendant’s employment rules as the Defendant was the person, and partly accepted the Plaintiff’s claim.

Therefore, since only the plaintiff appealed against this issue, the subject of this Court's judgment is limited to 111,885,508 won (=188,100,000 won - 76,214,492 won) which is the difference between the retirement allowance under the provisions of this case and the retirement allowance under the Rules of Employment of the defendant and its delay damages.

Basic Facts

On June 1, 2006, the plaintiff was employed as a member of the defendant after the defendant acquired the corporation C and succeeded to the employment.

On March 5, 2009, the Plaintiff worked as the Defendant’s internal director, and on January 4, 2010, as the Defendant’s representative director, respectively.

On August 21, 2014, the Plaintiff was dismissed from the position of inside director and representative director.

On January 15, 2015, the Defendant recognized that the Plaintiff’s retirement allowance pursuant to Article 29 of the Rules of Employment was KRW 76,214,492 on the date of first pleading of the first instance court of this case.

[Ground of recognition] The Plaintiff, at the time of December 2012, in fact, established the instant provision in consultation with D (the current representative director of the Defendant) that actually owns all the remainder of the Defendant’s shares excluding the Plaintiff’s shares among the Defendant’s shares, and the Plaintiff’s assertion of the purport of the entire pleadings. Article 17 and 18 of the aforementioned provision provide that, when an executive retires, he/she shall be paid retirement allowances calculated by “total amount of wages for one year before his/her retirement x 10% x the number of continuous service years x the payment rate (2.0 in the case of the representative director),” on the grounds that the period of service for less than one year is divided by 12, and thus, should be rounded off to the second decimal place.