1. The Defendant’s KRW 110,576,130 for the Plaintiff and KRW 5% per annum from December 1, 2012 to June 9, 2016.

1. Facts of recognition;

A. B, on January 7, 2009, requested the Defendant, who is an appraisal corporation, to appraise tangible assets, such as land, buildings, machinery, equipment, and fixtures, among the business assets of the said place of business, to convert the individual place of business operated in the trade name of “A” into a corporation.

B. Around January 20, 2009, the Defendant assessed the land, buildings, machinery, equipment, and fixtures as KRW 4,569,683,220. In evaluating the fixed assets for business in B, the Defendant assessed the assets based on the registered area of the said factory at the time of the appraisal, even though part of the building of the Dong, Kimhae-si, a single-story factory, 565.5 square meters (hereinafter “instant factory building”) was unregistered.

C. On February 18, 2009, the certified public accountant D, upon B’s request, assessed the net asset value of the business assets held by B as KRW 2,088,079,167 by citing the Defendant’s above appraised value.

B, on February 20, 2009, as promoters, incorporated the Plaintiff Company with capital of KRW 2.1 billion (the total number of shares issued 2.10,000, per share value of KRW 10,000), and invested in kind the business assets of an individual workplace in kind, and acquired 208,807 shares out of the total number of shares issued by the Plaintiff.

On February 20, 2009, the Plaintiff acquired the above business assets through investment in kind in B, and was exempted from acquisition tax, special rural development tax, registration tax, and local education tax by the Kim Sea market pursuant to Articles 119(4) and 120(5) of the former Restriction of Special Taxation Act (amended by Act No. 9671, May 21, 2009; hereinafter the same) with respect to the above acquisition.

On August 20, 2012, the Kimhae-si visited the Plaintiff’s place of business and confirmed the omission in the assets invested in kind at the time of appraising investment in kind, even though the instant building portion was actually invested in kind, the value of the instant building equivalent to KRW 106,135,50.

Accordingly, the Kim Sea Mayor shall follow the investment in kind.