It is confirmed that the shareholders' rights of the shares listed in the attached list issued by C are the plaintiff.

1. Determination on the cause of the claim

A. Facts of recognition 1) C Co., Ltd. (hereinafter “instant company”)

(2) On March 10, 2010, the Plaintiff acquired 60,000 common shares issued by the instant company from D, the representative director of the instant company, and on March 29, 201, entrusted the Defendant with the name of the shareholder as to 12,00 shares out of the above shares on March 29, 200.

On December 28, 2017, the Defendant promised to immediately return the nominal shares upon the Plaintiff’s request.

3) The instant company reduced its capital from 60 million to 400 million won (total number of 40,000 shares issued) on October 17, 2013, but increased its capital on July 23, 2015 to 500 million (total number of 50,000 shares issued) and thus, the shares of the instant company in the name of the Defendant were 10,000 shares of the instant company, and the shares of the instant company were not issued. 4) The Plaintiff sent to the Defendant on March 16, 2020 a duplicate of the instant complaint stating that the title trust agreement will be terminated on March 29, 2010 on the shares of the instant company in the name of the Defendant.

[Reasons for Recognition] Facts without dispute, entry of Gap's evidence 1 to 9, purport of the whole pleadings

B. Determination 1) In a case where a person who has entrusted a shareholder’s name with respect to the shares before the issuance of share certificates terminates a title trust contract with a trustee, the shareholder’s right to the shares is returned to the title truster solely by the declaration of termination, and thus, does not need to make a separate claim for transfer of shareholder’s right (see Supreme Court Decision 92Da16386, Oct. 27, 1992). In a case where a shareholder’s name in the form of shareholder’s registry contests a substantial shareholder’s right, the actual shareholder has the right to seek confirmation of the shareholder’s right against the nominal shareholder on the shareholder registry (see Supreme Court Decision 97Da38510, Jun. 12, 1998). According to the above recognition, the beneficial shareholder is a beneficial shareholder of the shares in this case.