1. Of the judgment of the court of first instance, the part against the defendant exceeding the following amount ordered to be paid shall be revoked.

1. Facts of recognition;

A. The Defendant Union is a cooperative established by the Framework Act on Cooperatives on December 11, 2014.

B. On June 12, 2015, the Plaintiff subscribed to the Defendant Cooperative and paid KRW 2,000,000 (hereinafter “instant investment”) to the Defendant Cooperative, and acquired 20 shares out of the shares of the Defendant Cooperative.

C. On January 24, 2017, the Plaintiff withdrawn from the Defendant Cooperative.

On January 24, 2017, the Plaintiff paid KRW 3,00,000 as security deposit (hereinafter “instant security deposit”), KRW 900,000 as security expense for deduction on February 22, 2017, and KRW 558,281 as security expense for settlement of accounts on March 15, 2017 (hereinafter “instant settlement amount”).

E. As of December 31, 2017, the Defendant Union’s total asset amounting to KRW 1,150,010,836; total asset amounting to KRW 620,158,704; total asset amounting to KRW 529,852,132; total asset amounting to KRW 2,00.

[Ground of recognition] Facts without dispute, Gap evidence 1, Eul evidence 1, Eul evidence 1, 2, 3, 9 (including provisional number), the purport of the whole pleadings

2. The parties' assertion

A. Article 16(1) of the Articles of Incorporation of the Plaintiff Union (hereinafter “instant Articles of Incorporation”) provides for the right to claim the refund of shares of withdrawing partners. As such, the Defendant Union is obligated to return to the Plaintiff KRW 2,00,000,000, an amount equivalent to the instant invested amount.

Although the Plaintiff was in arrears with the union dues, etc. at the time of withdrawal from the Defendant Cooperative, the Plaintiff was obligated to return the instant deposit to the Plaintiff, as it was in full repayment of the Plaintiff’s obligation to the Defendant Cooperative with the instant deductible expenses and the instant settlement amount.

Therefore, the Defendant Union is obligated to pay to the Plaintiff KRW 5,00,000 (i.e., share refund KRW 2,000,000) and damages for delay.

B. Chapter 1 of the first chapter of the Defendant Union (based on December 31, 2017, which is the end of the fiscal year when the absence of a share refund is withdrawn).