1. Of the Plaintiff, Defendant B, and C, the Plaintiff registered the amount of KRW 10,00 per share issued by Defendant D Co., Ltd.

1. Determination on the cause of the claim

A. The facts of recognition reveal that the Plaintiff is the representative director of Defendant D Co., Ltd. (hereinafter “Defendant Co., Ltd.”); the Plaintiff held the title trust of 8,500 shares among the registered common shares of KRW 10,000 per share issued by Defendant Co., Ltd.; the Plaintiff held the title trust of the Defendant Co., Ltd.; and the Plaintiff stated that at the time of filing the instant lawsuit, Defendant B owns 8,500 shares, and E owns 11,500 shares at the registry of the Defendant Co., Ltd.; the Plaintiff declared that the title trust of each of the above shares was terminated; and thereafter, the Plaintiff died; and thereafter, the fact that the Plaintiff succeeded to the above 11,500 shares from Defendant Co., Ltd. is either disputed between the parties, or can be acknowledged by the entry of evidence Nos. 1 through 4.

B. Determination 1) A nominal shareholder listed in the register of shareholders is recognized as a qualification-based effect of exercising shareholder rights even if he/she did not prove his/her actual rights in relation to the company, and does not have been recognized as a creative effect by the entry in the register of shareholders. Thus, in cases where he/she acquired shares and paid the price for shares by investing shares in the name of another person with the consent of another person, only the nominal borrower who actually subscribed shares and paid the price for the shares can become a de facto shareholder, and a mere nominal lender cannot become a shareholder (see Supreme Court Decision 2010Da22552, May 26, 201). If a title trust contract is terminated against a trustee, the shareholder’s right to the shares is returned to the title truster only by the declaration of termination, and thus, a separate claim is not required for transferring the shareholder’s rights (see Supreme Court Decision 92Da16386, Oct. 27, 192). 202.