1. The Defendants are jointly and severally and severally liable to the Plaintiff A, KRW 621,97,507, and KRW 114,032,876, Plaintiff C, D, E, and F, respectively.

1. Basic facts (attached 1) 1 A 60,000 60 B B 11,000 63 C 6,000 64 6,000 65 E 6,000 66,000 66,000 66,000 67 G 5,000 67 G 5,000 100,000 100 67 G 5,000 5,000 100

A. At the time of February 2009, the Plaintiffs are shareholders of N Co., Ltd. (hereinafter “N”) who operate a golf course located in Cheongbuk-do, Cheongbuk-do (hereinafter “N”), and the number of shares held are as follows.

B. On February 12, 2009, the Plaintiffs entered into a contract on the transfer of N shares (hereinafter “instant transfer contract”) with Defendant H Co., Ltd. (O on May 29, 2009; Defendant I Co., Ltd.; Defendant J Co., Ltd. (name change from P to Q Co., Ltd. on January 18, 201; Q Co., Ltd. on February 16, 201); Defendant K Co., Ltd (hereinafter “Defendant Co., Ltd”); and Defendant L guaranteed the Defendant Co., Ltd’s obligations under the instant transfer contract as an actual manager of the Defendant Co., Ltd.; the specific content of the instant transfer contract is as follows.

Article 3 (Price for Acquisition by Transfer)

1. The acquisition price of an object shall be 150 billion won in total, and since the acquisition price of an object shall succeed to the amount of obligation determined after the actual inspection conducted by the company (N; hereinafter the same shall apply) subject to acquisition, the amount of obligation shall substitute for the payment of the purchase price;

2. The actual amount to be paid by the transferee to the transferor shall be the amount under paragraph (1);

Provided, That when a contract is concluded, the amount of the transferor's debt shall be provisionally agreed upon as KRW 139 billion, and the amount to be paid by the transferee to the transferor shall be appropriated as KRW 11 billion.

3. The transferor shall submit separately to the transferee the assets and liabilities of the target company as of the date of the contract necessary for the settlement of the price, and the specifications of movable property (including expendable house and equipment) and equipment used for business.

4. Based on Article 3(3) presented by the transferor, if the details of liabilities and assets through a subsequent on-site investigation conforms to those presented by the transferor, the full amount of the purchase price.