1. The defendant's appeal is dismissed.

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

Purport of claim and appeal

1...

1. Facts of recognition;

A. On March 2, 2015, I, the Defendant, the representative of the Defendant, entered into a corporation transfer/acquisition agreement with J on March 2, 2015 (hereinafter “instant transfer/acquisition agreement”) with respect to the entire business rights to the housing construction project that was conducted in the Dong-gu, Gwangju (hereinafter “instant housing construction project”) and the Defendant’s transfer of 10% of the Defendant’s shares. The main contents are as follows.

A contract for the transfer and takeover of a legal entity shall transfer all the rights of the business to J for the following housing construction projects in which the defendant is working as a business operator, and the method of transfer shall be 100% of the shares of the defendant in the name of the person designated by J or J and shall be paid from J in the following manner:

1. Details of housing construction project - Operator: Defendant - Place of business: K Institute in Gwangju Dong-gu - Site area: 7,599 square meters;

2. The sum of the settlement amounts shall be the sum of 3 billion won in cash paid by J to I, and the ownership transfer registration of 5 bonds in apartment buildings completed on the business site of this case shall be made at the end of this period.

4. Method of transferring the shares of the defendant, and time when the defendant's joint representative director and his resignation are registered;

B. I withdraws from the defendant's sole representative director at the time when the contract of this case is concluded, and registers appointment again as L and joint representative director, and if he receives the full amount of cash under paragraph (3), he/she shall immediately register the resignation of joint representative director.

C. I or L shall, upon receipt of a request for the exercise of legitimate power of representation to carry out the instant project, immediately perform it and, if so, be deemed to be nonperformance of contractual obligations set forth in paragraph 5.

5. Security for performing the contract;

(b) fair management of the performance of the contract - I and J shall appoint and register L as the defendant's co-representative at the same time with the preparation of the contract, regardless of their respective shares.

I has resigned from the sole representative director.