1. The issuance of new shares with a face value of KRW 10,000 per December 28, 2017 does not exist.

1. Facts of recognition;

A. The Defendant is a company with the purpose of telecommunications construction business, and the Plaintiff is serving as the Defendant’s representative director from October 5, 2019.

B. As of December 26, 2017, C of the Defendant’s former representative director “as of December 26, 2017, the Defendant issued new shares of KRW 10,000 per share with the issuance price of KRW 10,000 per share and the due date of December 26, 2017 (hereinafter “instant new shares”), and C acquired the entire amount of new shares as the investors in kind, and the investment in kind made a resolution to set the minutes of the shareholders’ meeting to be the loan bond of KRW 2,20,000 against the Defendant.

On the other hand, the defendant, as of December 26, 2017, accounted for the balance of the deposit of provisional deposit C as of December 26, 2017 as 2,200,000.

C. C completed the registration of modification to the issuance of new stocks of this case on December 28, 2017, according to the minutes of the above general meeting of shareholders, etc.

On March 18, 2020, C did not have paid the provisional money to the Defendant, and the accounting firm that audited the Defendant has expressed its opinion that “The issuance of new shares of this case is deemed to be a capital increase on registration made by offsetting the disposal of the processed assets and the provisional money without paying the stock price against the payment liabilities.”

[Ground of recognition] Facts without dispute, entry of Gap evidence 1 to 8 (including a provisional number), the purport of the whole pleadings

2. Where procedural and substantive defects are extremely significant in the issuance of new shares in determining the cause of claim, shareholders, directors, or auditors of a company may file a lawsuit seeking confirmation of non-existence without resorting to a lawsuit seeking nullification of issuance of new shares.

(2) The new shares issued in this case are issued in the following manner: (a) there is no dispute between the parties to the issuance of the new shares; and (b) there is no dispute between the parties to the issuance of the new shares; and (c) there is extremely significant degree of procedural and substantive defect.