1. All appeals by the Defendants are dismissed.

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

Purport of claim and appeal

1.

Facts of recognition

A. As of June 3, 201, as of June 3, 201, the Plaintiff was registered as holding 12,000 shares (20%) and 16,500 shares (27.5%) of D’s total shares issued in D’s list of shareholders of D Co., Ltd. (hereinafter “D”).

B. On April 1, 2011, the Plaintiff entered into a share transfer contract with the Defendants on a share transfer agreement with the content that the Plaintiff transfers 12,000 shares owned by the Plaintiff (hereinafter “instant shares”) to the Defendants in KRW 500,000,000 (hereinafter “instant share transfer agreement”). The instant share transfer agreement contains the following details.

Article 3 (Methods of Payment) The transfer price to be paid by the Defendants to the Plaintiff is paid by April 1, 2013.

Article 4 (Timing of Stock Transfer) The Plaintiff immediately transferred 12,00 shares of the instant case on April 1, 201, which entered into the instant stock transfer contract, and waived voting rights and management participation rights.

Provided, That where the Defendants failed to comply with the payment method under Article 3, the Plaintiff’s ownership of shares shall be recovered as the remaining balance.

C. Since then, as the Defendants owned 6,00 shares of the instant shares, the Defendants entered into a change of holders as to ownership of 6,000 shares of each of the instant shares, and as to March 2012, the Defendants were registered as holding 22,50 shares of D in their respective shares (37.5% of their respective shares).

On December 27, 2012, Defendant B promised to pay KRW 250,000,00 to the Plaintiff by April 1, 2013. In the event of delay in the payment, the Plaintiff and Defendant B may adjust the due date through mutual agreement: Provided, That the payment note stating that “the full amount shall be paid at the time of sale of a tideland building owned by D” (hereinafter referred to as “instant payment note”).

[Reasons for Recognition] Facts without dispute, each entry of Gap evidence Nos. 1 through 3 (including virtual numbers), and the fact of recognition as to the ground for claim of the whole pleadings.