1. All appeals filed by the Plaintiff and the Defendants are dismissed.

2. Of the appeal costs, the part relating to the Plaintiff’s appeal is the Plaintiff.

1. Facts of recognition;

A. The defendant company as a party has its head office in Seocho-gu Seoul, and operates its Internet homepage (G, Japanese language, and its server is being drafted and managed domestically; hereinafter referred to as “website”).

"Act on the Regulation of Conducting Fund-Raising Business without Permission" in Articles 2 and 2 of the Act on the Regulation of Conducting Fund-Raising Business without Permission (hereinafter referred to as the "Act on the Regulation of Conducting Fund-Raising Business without Permission") means any act falling under any of the following subparagraphs as a business of raising funds from many and unspecified persons without obtaining approval or permission, or making registration or report pursuant to other Acts and subordinate statutes:

1. Receiving contributions under an agreement to pay the total amount of contributions or the amount in excess thereof in the future;

2. Receiving money under the pretext of deposits, installment savings, installment savings, deposits, etc. under an agreement to pay the full principal or excess amount in the future;

3. Issuing or selling bonds under an agreement to purchase them in the future at least the issue price or selling price;

4. A mutual agreement to compensate for any future economic loss with money or securities, and did not obtain authorization, permission, or make a registration report concerning the act of receiving money under the pretext of membership fees, etc.

The plaintiff is Japan and the defendant company as follows:

As seen in the subsection, money was lent.

Defendant C served as the representative director of the Defendant Company from April 15, 2002 to March 31, 2006, and has the position of the president of the Defendant Company even after resignation from the representative director.

Defendant D is serving as the representative director of the Defendant Company from March 31, 2006 to December 5, 2012, and from December 13, 2012 to December 13, 2012.

Defendant E shall serve as an auditor of the Defendant Company from March 30, 2012 until then.