1.The judgment of the first instance shall be modified as follows:

Defendant B, C, and D are joint.

1. Basic facts

A. Defendant B Co., Ltd. (hereinafter “Defendant B”) is a corporation established for the purpose of communication sales business for the so-called P2P (P2P) loan to connect multiple investors via online, etc., Defendant C Co., Ltd. (hereinafter “Defendant C”); and Defendant B and Defendant C collectively “Defendant Co., Ltd.”), are corporations established for the purpose of credit business related to P2P loans.

B. Defendant D is the representative director of Defendant B, Defendant C’s former representative director, Defendant C’s present in-house director, and a person who actually manages all the investment goods posted on Defendant B’s Internet homepage and the overall fund management of each of the above companies. Defendant E, F, and G are the joint representative director or internal director of the Defendant Company.

C. In posting investment goods on the Internet homepage, Defendant B disclosed information necessary to determine whether to grant a loan, such as the credit rating, purpose of loan, and collateral capacity of a specific borrower, and individual investors who are members of the above company are to analyze the above information stated in the investment goods and determine whether to make an investment and the amount of investment. Defendant C entrusted by Defendant B with the management of the above investment amount, etc., and Defendant C lent the investment amount for specific P2P goods to the borrower of the pertinent P2P goods and distributed it to the said investor if the borrower subsequently redeems the principal and interest.

From March 10, 2016 to November 21, 2017, the Plaintiff invested in Defendant Company’s goods, and failed to recover all or part of the investment principal in relation to certain investment goods. The specific details are as follows:

4,00,000 won 947,811 won 947,811, 200,000 won 50,534 won 130,534 won on April 20, 2016, 131,798 won 130,798 won on April 27, 2016, 200 won 15,00,000 won 175,516 won 5,000 won on April 27, 2016.