1. It is confirmed that the shareholder of the shares listed in the separate sheet is the Plaintiff.

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

1. Basic facts

A. The Plaintiff and the Defendant came to know in the late 1970s, and maintained their friendship.

B. On October 31, 2019, the shareholder registry of C Co., Ltd. (hereinafter “C”) entered the Defendant as a shareholder of 27,500 shares listed in the separate sheet (hereinafter “instant shares”). The Plaintiff paid the purchase price and the capital increase necessary for the acquisition of the instant shares.

C. On December 20, 1993, the Defendant prepared and sent to the Plaintiff a factual confirmation of the following contents (hereinafter “instant confirmation”).

The plaintiff and the defendant confirm that they made a title trust as follows:

1. Title trust shares - Company name: common shares - Shares - Par value 10,00 won per share, face value - Date of title trust and quantity of title trust shares - February 25, 1992 4,410 shares (stock transfer) on February 25, 1992 (stock transfer) - January 11, 1993 (stock transfer) - January 7, 1993,50 shares (stock transfer); and

2. The plaintiff is the right holder of the above shares, and the defendant is only the title trustee.

In addition, all the expenses (sale and capital increase) required for the acquisition of the above shares were fully borne by the plaintiff.

All of the rights of shareholders of the above shares have been exercised by the plaintiff, and the defendant has no objection at all.

Based on the above shares, the shares issued in the name of the defendant are also treated equally.

On November 8, 2019, the Plaintiff sent a content certification (hereinafter “instant content certification”) to the effect that “the termination of title trust with respect to the instant shares is changed,” and the content certification was served on the Defendant around that time.

E. C did not issue share certificates until now after its incorporation.

[Ground of recognition] Facts without dispute, entry of Gap evidence 1 to 4, purport of the whole pleadings

2. Determination

(a) As to the shares before the issuance of share certificates: