1. The plaintiff's appeal is dismissed.

2. The costs of appeal shall be borne by the Plaintiff.

Purport of claim and appeal

1..

The reasons for this part of the basic facts are the same as the statement in the "1. Basic Facts" of the judgment of the court of first instance, and they are cited by the main sentence of Article 420 of the Civil Procedure Act.

In light of the gist of the Plaintiff’s assertion, the Plaintiff was transferred from C on September 30, 2014 to the Plaintiff in lieu of paying the loan amount of KRW 220 million (interest rate of KRW 4% per annum). Therefore, the Defendant is obligated to implement the transfer procedure on the register of shareholders due to transfer on September 30, 2014 with respect to the instant shares.

Preliminaryly, the Plaintiff received the instant shares from C on September 30, 2014 to secure the foregoing loan claim, and the Defendant is obligated to implement the transfer procedure on the register of shareholders on September 30, 2014 for the instant shares to the Plaintiff.

The summary of the Defendant’s assertion and C concluded a contract on acquisition of the shares of this case for the purpose of securing the loan obligation of KRW 220 million, and C repaid all the loan.

Therefore, the Plaintiff’s right to collateral security for the instant shares was extinguished due to the above repayment.

Judgment

In full view of the following circumstances acknowledged by the purport of Gap's evidence Nos. 1, 6, 10, Eul's evidence Nos. 2, 3, and 4 and the purport of the entire pleadings as to whether the plaintiff acquired the shares of this case through payment in kind, it is reasonable to conclude that the share acquisition agreement of this case was concluded in order to secure Eul's obligation to repay the loan amounting to KRW 220,000,000 to the plaintiff. The statement of evidence No. 13 alone is insufficient to find that the plaintiff acquired the shares of this case due to payment in kind of the loan of this case on September 30, 2014.

① On March 4, 2014, C repaid KRW 220 million to the Plaintiff by September 30, 2014.