1. The Defendants are jointly and severally and severally liable to the Plaintiff for KRW 20 million and 5% per annum from November 18, 2012 to February 15, 2016.

1. Basic facts

A. On July 201, the Plaintiff registered at the KOSDAQ market around July 2001 as a company whose business purpose was to manufacture and sell electric power plants and sell them. On April 3, 2012, the Plaintiff de-listing the audit opinion on financial statements by refusing to do so.

The Defendants served as the respective representative director of the Plaintiff from February 10, 2012 to August 2015.

B. The Plaintiff’s representative director at the time of F, a KOSDAQ-registered corporation, in the process of changing the management right from D to E

D. (hereinafter referred to as “F”).

A) On March 20, 201, F acquired new shares of KRW 1,269,841 from F after investing in kind an amount equivalent to KRW 2 billion in the business bonds related to the vessel block project. On April 8, 2011, F acquired new shares of KRW 1,275,685 after investing in kind an amount equivalent to KRW 2,232,401,50 related to the vessel block project and acquiring new shares of KRW 2,545,49 (= 1,269,841 shares), 275,685 shares (hereinafter “instant shares”).

A) The instant shares were acquired. The instant shares were exempted from the obligation to submit a registration statement on condition that they be protected by the Korea Securities Depository for one year during the issuance process. In addition, around March 201, F had already been designated as management issues, F had to be subject to the provision on restriction on transfer imposed on a third party’s obligation to keep on the instant shares for six months after the date of additional listing for capital increase with consideration. Around July 28, 2011, the instant shares were under the obligation to keep on the stock.

The instant shares were subject to sanctions such as “the extension of one-year period of protection deposit” with respect to the instant shares by providing the right to claim the return of the instant shares as security for transfer.

Therefore, the above 1,269,841, which was issued on March 20, 201, was set or extended from May 19, 2011 to November 18, 2012, and the above 1,275,658, which was issued on April 8, 201, respectively, from May 26, 201 to November 25, 2012.

On the other hand, according to the above protection period or continuous holding obligation, the Plaintiff shall be F, and F shall be the Korea Securities Depository.