The defendant shall account in the name of the plaintiff as to the share of the deposited securities listed in the attached list C.

1. Facts of recognition;

A. The Defendant is a stock company established on January 16, 2012.

B. The Plaintiff, as the founder of the Defendant, paid KRW 150 million to the Defendant at the time of the establishment of the Defendant.

C. Around August 7, 2019, the Defendant issued to the Plaintiff a non-issuance confirmation certificate (Evidence A 2) stating that “The Plaintiff is registered in the register of shareholders of 114,208 common shares issued by the Defendant as of August 6, 2019, and did not issue the share certificates corresponding to the above shares.”

Meanwhile, the defendant deposited the shares issued by the defendant to the Korea Securities Depository.

[Ground of recognition] Unsatisfy, Gap evidence Nos. 1, 2, and 3, the purport of the whole pleadings

2. Determination

(a) The Company shall issue without delay its share certificates after its incorporation or after the date of payment on new shares (Article 355(1) of the Commercial Act), and a shareholder may demand of the Company the issuance of share certificates.

B. According to the above facts, the defendant is obligated to issue and deliver share certificates with respect to 114,208 common shares to the plaintiff who is a shareholder listed on the register of shareholders.

However, since the defendant deposited the shares issued by the defendant, including the above shares, to the Korea Securities Depository, the defendant is obligated to substitute the share of the deposited shares in the attached list to the plaintiff in the name of the plaintiff.

3. In conclusion, the plaintiff's claim is reasonable, and it is so decided as per Disposition.

(If a plaintiff accepts the primary claim, no preliminary claim shall be examined).