1. The defendant's appeal is dismissed.

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

Purport of claim and appeal

1..

1. Basic facts

A. On March 30, 2015, the Plaintiff transferred the shares listed in the separate sheet (whether specific shares have been transferred) to the Defendant in KRW 60 million, but the due date for the payment of shares under the said transfer contract is up to April 30, 2015, and if the Defendant did not pay the said shares by the due date, the Plaintiff decided to return the shares transferred to the Plaintiff.

(hereinafter referred to as “the primary transfer contract”). (b)

The Plaintiff transferred the shares listed in the attached list to the Defendant pursuant to the above share transfer contract, and transferred the transfer of ownership. However, the Defendant did not pay the above share price of KRW 60 million by April 30, 2015.

C. On May 7, 2015, the Plaintiff and the Defendant concluded a comprehensive transfer agreement with the content that the primary transfer agreement is amended (hereinafter “the secondary transfer agreement”).

The main contents are as follows:

The transferee who received payment of KRW 42,082,787 transfer price of KRW 60 million by April 30, 2017 shall pay the transferor interest at an annual interest rate of 5% per annum of the total transfer price until April 30, 2017 to the transferor by the date of payment of the transfer price.

The payment of interest shall be made monthly by dividing the interest rate of 5% per annum into 12 months, and expenses related thereto shall be borne by the transferor.

The defendant provides for the plaintiff with the shares issued by the defendant (C-owned 398,000 shares, E-owned 50,000 shares) as collateral, and if the second transfer contract is not complied with, the defendant shall provide all investors including the plaintiff who invested the above shares in the company subject to transfer in installments at the ratio of investment by each investor.

Until April 30, 2017, the defendant did not pay 60 million won of the transfer price under the above secondary transfer contract until the date of the expiration of April 30, 2017.

E. C, the representative director of the Defendant, died on December 30, 2016.

F. On July 11, 2017, the Plaintiff entered into a secondary transfer contract against the Defendant by “the Defendant” until April 30, 2017.