The appeal is dismissed.

The costs of appeal are assessed against the defendant.

The grounds of appeal are examined (to the extent of supplement in case of supplemental appellate briefs not timely filed).

1. As to the assertion regarding the debtor C's insolvency

A. Based on its stated reasoning, the lower court determined as follows: (a) ① A’s claim for the purchase price against B Co., Ltd. is excluded from positive property of C; (b) included KRW 200 million in non-financial right claims in C’s small property; and (c) thereby, determined that C was in excess of its obligation due to the conclusion of the instant trust contract, thereby exceeding its positive property.

In light of the relevant legal principles and records, the above determination by the court below is just, and contrary to what is alleged in the grounds of appeal, there were no errors exceeding the bounds of the principle of free evaluation of evidence against logical and empirical rules,

B. In determining whether the Defendant exceeded C’s obligation due to the conclusion of the instant trust agreement, the lower court asserted that the lower court erred by including the loan obligation amounting to KRW 130 million against the new bank that had already been repaid prior to the conclusion of the instant trust agreement and KRW 100 million against the Daegu Bank, as a negative property, and that such circumstance should be peeped in the record.

However, according to the reasoning of the lower judgment and the record, although the lower court held that C owns only 1/2 shares, and C owns only 1/2 shares, whereas Q. Q. Q. 6,612 shares only 150/2,00 shares, among four parcels of land, other than 34 square meters and four parcels of land, located in the Nam-gu, Nam-gu, Gwangju Metropolitan City, Namyang-gun, Jeonyang-gun, N. 248 square meters, and P. 360 square meters, among four parcels of land, which were included in C’s active property, the lower court erred by misapprehending the market price by deeming C as

45,726,842 won [=1/2 shares of 1/2,690,800 won (5,381,600 won x 1/2) out of the land in the Nanyang-gun, Namyang-gun, Namyang-gu, Gwangju, Seoul (5,381,600 won x 1/2) 1/2 shares of 35,886,90 won (71.71) out of the O land.