1. The plaintiff's lawsuit shall be dismissed.

2. The costs of the lawsuit shall be the representative of the Plaintiff, including those resulting from the participation.

.A legal entity or natural person) will become a management manager under a contract for acquisition of stocks. - Adjustment and change of the conversion price: In the case of issuing stocks by capitalizing capital of capital increase, stock dividends, and reserve funds with the original conversion price lower than the original conversion price before making a request for conversion, the following kx shall adjust the conversion price: Provided, That the conversion price after adjustment = (pre-assessment conversion price x the number of issued stocks x the number of issued stocks) ? the initial conversion price - the number of issued stocks after adjustment x the number of issued stocks ? the initial conversion price - the number of issued stocks before adjustment x the number of issued stocks - the initial conversion price 4,500 won, and the once adjustment price shall not be adjusted again if the following occurs before the exercise of the conversion right.

C. The net income of the Defendant Company was KRW 576,834,651 in 2012, KRW 1,231,012,103 in 2013, and KRW 3,000 in average. Accordingly, the Plaintiff exercised the conversion right with the number of convertible shares as KRW 1,500 in total, KRW 1,500 in total, and KRW 766,665 in total, on April 29, 2016 (hereinafter “instant conversion right”), and the Defendant Company did not issue a share certificate to the Plaintiff until then.

[Ground of recognition] Unsatisfy, entry in Gap evidence 1 through 4 (including each number for a case with a serial number), the purport of the whole pleadings

2. Summary of the parties' arguments

A. The Plaintiff became a shareholder of the Defendant Company upon the exercise of the instant conversion right.

A shareholder may report to the company that he/she will not hold the share certificates for shares and, however, against the company at any time.