1. All appeals filed by the Defendant (Counterclaim Plaintiff) are dismissed.

2. The costs of appeal are borne by the Defendant (Counterclaim Plaintiff).

1. Basic facts

A. On April 30, 2013, the Plaintiff entered into a sales contract with the Defendant for 9,000 shares of Gwangju Lao Co., Ltd. (hereinafter “Ballon”) owned by the Defendant (hereinafter “instant sales contract”), and entered into a sales contract for 9,000 shares of Gwangju Lao Co., Ltd. (hereinafter “Ballon”) with the following purport:

Sale of goods: Sale price of 9,000 shares of Gwangju Pallon (including assets): Net assessed value of net assets excluding liabilities: 47,780,000 won per share of 47,780 million won per share of net value of assets: The buyer and the seller: The buyer and the purchaser: the Plaintiff: the Defendant sold 90,000 shares of Gwangju Pallongalian, owned by the Defendant to the Plaintiff on September 2, 201.

- On April 30, 2013, the Plaintiff sold the same shares in the form of repurchase to the Defendant on April 30, 2013 by the buyer at KRW 630 million.

The down payment shall be KRW 30 million received by the Plaintiff at the time of the contract, and the intermediate payment shall be paid KRW 200 million on August 10, 2013, and the remainder KRW 400 million shall be paid on April 30, 2014.

- The Plaintiff, the buyer and the purchaser, agree to sell to a third party the Gwangju Lao gallon and the entire shares after the repurchase contract.

On the other hand, the payment of the balance of 400 million won under the redemption contract shall be specified as the payment date on April 30, 2014, and if the balance of the third party sale is advanced, it shall be the date.

- The Gwangju District Court 2012Gahap3618 (No. 2012Na7105) claims for the confirmation of shareholders' rights shall be deemed to have been agreed solely in accordance with the terms and conditions of this Agreement and shall withdraw the mutual lawsuit.

B. The Defendant paid KRW 30 million to the Plaintiff on April 30, 2013 according to the instant sales contract, and the intermediate payment of KRW 200 million on August 12, 2013, KRW 200 million on an intermediate payment of KRW 30 million on August 12, 2013, KRW 20 million on the same month, KRW 21.20 million on the same month, KRW 20 million on November 29, 2013, KRW 50 million on November 29, 2013, and KRW 50 million on December 9, 2013, thereby passing the date of the intermediate payment under the instant sales contract.