1. The judgment of the court of first instance is modified as follows.

Of the instant lawsuits, the Plaintiffs’ Defendant Co., Ltd.

1. The reasoning for the court's explanation on this part of the facts is as follows: the "Dongyang Construction Industry" in Part 6 of Part 3 of the judgment of the court of first instance (hereinafter "Dongyang Construction Industry"), which is the administrator of Dongyang Construction Industry, Co., Ltd., Ltd. (hereinafter "Defendant Dongyang Construction Industry"), is used as the "loan" (hereinafter "the corresponding part") and the "jet wage" in Part 15 of the same part, which is the administrator of Dongyang Construction Industry, Co., Ltd., Ltd. (hereinafter "Defendant Dongyang Construction Industry"), shall be used as the "loan", and the "the excess development profit" shall be added, and the "the excess development profit" shall be deleted, and the part below shall be cited as the corresponding part of the judgment of the court of first instance, except for the addition of the following part after Part 10, which is set forth below, shall be cited in the main sentence of Article 420 of the Civil Procedure Act.

In addition, “E. Defendant Dongyang Construction Industry for Defendant Dongyang Construction Industry for Defendant Dongyang Construction Industry was terminated on April 10, 2015 (Seoul Central District Court 201 Gohap46), and on October 27, 2015, the rehabilitation debtor, Dongyang Construction Industry, Inc., taking over the lawsuit of E by the administrator of Dongyang Construction Industry.

2. The plaintiffs' assertion

A. The instant loan management agency contract was concluded on March 8, 2012 by agreement as of March 8, 2012. Since the Defendant Dongyang Construction Industry did not receive the documents under Article 9(2) of the said agreement from our investment securities, the agreement as of March 8, 2012 became effective, and the agreement as of May 4, 2012 was also null and void, and thus, the instant loan management agent contract concluded on May 4, 2012 is also null and void.

B. The term “the Fund Management Agency” under Article 9(3) of the Fund Management Agency Contract has become null and void in the order of execution of the funds stipulated in Article 9(1) of the said Contract because it fails to meet the prerequisite stipulated in Article 9(3) of the said Contract.