1. The instant lawsuit shall be dismissed.

2. The costs of lawsuit are assessed against the plaintiffs.

1. Basic facts

A. On July 20, 2009, E Co., Ltd. was established by dividing the construction business portion of F Co., Ltd.

(Name at the time of its incorporation is changed to G, July 22, 2009, and is changed to the current trade name (hereinafter referred to as "E"). (b)

The defendant acquired shares of 55,200 shares of 55,200 shares as follows:

(2) On July 20, 2012, Plaintiff C15,312, July 20, 2012, Plaintiff A19,680, August 10, 2012, the amount of shares acquired by the Defendant (hereinafter “instant shares”). On April 28, 2010, Plaintiff A 19,680, Plaintiff A’s shares (based on recognition), Plaintiff A, 1, 2 (including the number of shares), and Party B’s shares (including the number of shares), respectively.

2. The gist of the assertion, such as the claim, is that the plaintiffs held the title trust to the defendant.

The plaintiffs expressed their intent to terminate a stock title trust agreement by delivering a duplicate of the complaint of this case. Thus, the defendant is obligated to implement the transfer procedure for the above shares to the plaintiffs.

3. Determination

A. The transfer of shares made before the issuance of share certificates is effective as against the company when six months have elapsed since its incorporation or the due date of new shares (Article 335(3) of the Commercial Act). In such a case, the transfer of shares takes effect only by the declaration of intent of the parties in accordance with the general principle as to the transfer of nominative claim (see Supreme Court Decision 87Nu481, Oct. 11, 1988). The transfer of shares in the register of shareholders under Article 337(1) of the Commercial Act is merely a requisite to exercise the shareholder’s right in relation to the company by which the transferee of shares must exercise the shareholder’s right (see Supreme Court Decision 89Meu14714, Oct. 24, 1989). Thus, where a company fails to issue share certificates within six months after its incorporation or after the due date of new shares, the transferee of shares alone proves the fact that the transferee acquired shares without the need to obtain the transferor’s cooperation, barring any special circumstance.