1. To dismiss Defendant E from office as liquidator of Defendant D Co., Ltd.

2. The costs of lawsuit are assessed against the Defendants.

1. Basic facts

A. The Plaintiffs are the shareholders of Defendant D Co., Ltd. (hereinafter “Defendant Co., Ltd.”) (total share ratio of 4.18%) and Defendant E is the liquidator of Defendant Co., Ltd.

The shareholders of the above defendant, including the plaintiffs, established a company partnership around August 2013, in order to construct and distribute commercial buildings on the land of Sungnam-si G in order to distribute profits by building and selling commercial buildings on the land of Sungnam-si, and elected Defendant E as the representative director and its members as shareholders on January 17, 2014.

B. On February 18, 2017, Defendant Company: (a) selected Company H as an agent company (hereinafter “H”); (b) constructed Company I, a commercial building of the 11th floor above the 4th ground surface; and (c) concluded a sales contract around February 2017; and (d) decided on February 18, 2017 to hold a general meeting of shareholders to distribute profits to shareholders and dissolve them; and (e) made a resolution to appoint Defendant E as a liquidator.

[Reasons for Recognition] Unsatisfy, Gap 1, 2, 3 evidence, the purport of the whole pleadings

2. The Plaintiffs’ summary of the Plaintiffs’ claim asserted that Defendant E significantly inappropriate and serious breach of duties in the execution of the liquidator’s duties, such as committing occupational breach of trust, and sought the dismissal of such liquidator’s position.

The plaintiffs' specific grounds for dismissal are examined as follows.

3. Determination on the grounds for dismissal of Defendant E, the plaintiffs asserted

A. Article 539(1) of the Commercial Act provides that “A liquidator may dismiss him/her at any time by a resolution of a general meeting of shareholders, except in cases where the court appoints a liquidator.” Paragraph (2) of the same Article provides that “If a liquidator is clearly unfit for the performance of his/her duties or has breached his/her material duties, a shareholder who holds shares equivalent to at least 3/100 of the total number of issued and outstanding shares may request the court to dismiss the liquidator.”

(b)in this case.