1. The plaintiff's claim is dismissed.

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

1. Basic facts

A. (1) The Plaintiff (the Plaintiff’s original trade name was “C”) was changed to “D Co., Ltd.” on September 19, 2008, and as of January 21, 2010, respectively.

A) A company established on July 10, 2007 and running the professional camping team “E”, and between the Defendant and the Defendant on or around July 14, 2008 and August 29, 2008, the Plaintiff shall receive an investment of KRW 2 billion each from the Defendant, and in return, a sum of KRW 20 billion out of the Plaintiff’s shares shall be transferred to the Defendant, and 40% of each of the Plaintiff’s shares shall be registered in the register of shareholders by the end of October 2008 (each of the instant investment contracts shall be referred to as “the instant investment contracts” and “the instant investment contracts” collectively, and “the instant investment contracts” shall be referred to as “each of the instant investment contracts.

(2) The Defendant paid the Plaintiff KRW 1 billion around July 4, 2008 and KRW 2 billion around August 28, 2008 under each of the instant investment contracts, but the Plaintiff did not transfer the shares to the Defendant.

3) Meanwhile, the Plaintiff: (a) converted loans to the Plaintiff on November 14, 2008, January 21, 201, and June 24, 201; (b) increased capital by converting the loans to the Plaintiff by investment; and (c) currently, the total number of shares issued by the Plaintiff is 4,100 shares with a total face value of 5,000 shares registered common shares; (c) F, the representative director of the Plaintiff, is 274,00 shares; (d) F, the Plaintiff’s director, 20,00 shares with 6,00 shares with 10,00 shares with 10,00 shares owned by J, 100 shares with 10,00 shares with 10 shares and 10,000 shares with a total face value of 4,00 shares (hereinafter “existing shareholders”).

(B) B. Arbitral Award 1) The Plaintiff filed an arbitration claim against the Defendant to verify that “the Defendant is not a shareholder of the Plaintiff” as the Korea Commercial Arbitration Board No. 12113-0015 (hereinafter “instant arbitration application”). In the said procedure, the Defendant also filed a counterclaim against the Plaintiff as the head of 1212-015 of the same Arbitration Board (hereinafter “instant counterclaim”). In the first instance, the Defendant is a shareholder of the Plaintiff.