1. The defendant's appeal is dismissed.

2. The costs of appeal shall be borne by the Defendant.

Purport of claim and appeal

1..

1. Facts of recognition;

A. On August 20, 2009, the Defendant: “The Defendant borrowed KRW 328,731,500 from the Plaintiff; the Defendant would repay the above loan on August 17, 2010; there was no interest until the date of repayment; and at the time of repayment of the above loan, on August 16, 2010, the Defendant prepared a loan certificate stating that “The Defendant would repay the balance after deducting the amount appraised by the closing price from the Plaintiff’s 15,946 shares at the time of repayment of the above loan (hereinafter “the loan certificate of this case”); and on the same day, the Plaintiff and the Defendant were certified by a notary public as a deed signed by a private person at Law Firm Taeyangyang, etc. (2927).

B. On the other hand, CELD was delisting on May 3, 2010.

C. On August 17, 2010, the Defendant failed to comply with the above repayment commitment, and on August 18, 2010, the Defendant written on the instant loan certificate, “I, by 1/30, promise to pay the above amount. B, August 18, 2010.”

[Ground of recognition] Facts without dispute, Gap evidence Nos. 1 and 2, the purport of the whole pleadings

2. The parties' assertion

A. Plaintiff 1) agreed to the Plaintiff around August 2007 that “Around October 15, 2007, the Defendant managed CELD’s share price,” and that “Around October 15, 2007, the government of CELD and the cement plant construction-related MOU would make an investment in CELD shares. The investment principal will be guaranteed within the investment principal.” The Plaintiff, who believed the above Defendant’s commitment, acquired a total of KRW 159,460 shares with KRW 328,731,50 in trust and received KRW 328,731,50, and acquired a total of KRW 159,460 shares with KRW 328,731,500. The Defendant did not make a public announcement, and eventually, CELDD share price fell on August 20, 209.) The Plaintiff sought the principal for the Defendant on August 20, 2009.

The defendant urged the performance of the promise, and the defendant prepared the loan certificate of this case and completed the authentication of the deed signed by the private person in order to implement the above principal guarantee agreement.

3. Therefore, the defendant shall guarantee to the plaintiff the loan or principal on the loan certificate of this case.