Defendant B received KRW 30,00,000 from the Plaintiff, and at the same time, written in the attached list to Defendant C Co., Ltd..

1. Facts of recognition;

A. Defendant C Co., Ltd (hereinafter “Defendant Co., Ltd.”) issued 10,000 won per share and 30,000 ordinary shares, and owned 300,000,000 capital. The Plaintiff held 5,000 shares of the Defendant Co., Ltd. around September 2018.

B. On September 10, 2018, the Plaintiff sold 50 million shares of the Defendant Company to Defendant B, and Defendant B paid KRW 30 million to the Plaintiff on the same day, and agreed to pay KRW 20 million to the Plaintiff by December 31, 2018.

C. The Plaintiff did not receive any balance of KRW 20 million from Defendant B, but around February 2019, the transfer process was completed so that Defendant B can be entered in the register of shareholders of the Defendant Company.

On November 5, 2019, the Plaintiff declared that Defendant B had not paid any balance of KRW 20 million, thereby cancelling the share transfer contract. A copy of the complaint stating the Plaintiff’s said declaration of intent was served on Defendant B on November 28, 2019.

[Grounds for recognition] The descriptions of Gap evidence Nos. 1, 2, and 3 and the purport of the whole pleadings

2. Relevant legal principles

(a) If six months have elapsed after the incorporation of the company or the date of payment on new shares, the shares before the issuance of the share certificates may be transferred only by the declaration of intention of the parties, and if the contract is rescinded, the shares transferred to the performance of the contract shall be naturally returned

B. (See Supreme Court Decision 2002Da29411 delivered on September 10, 2002).

The transfer of shares prior to the issuance of share certificates shall take effect only with the declaration of intention by the parties, and any person who has acquired shares prior to the issuance of share certificates may, except in extenuating circumstances, request the transfer of shares to the company by independently proving that he/she has acquired shares without

Provided, That in order to oppose the fact of transfer to a third party other than the company, the notification or consent by the certificate with the fixed date shall be prepared in accordance with the transfer of nominative claim.