1. All of the plaintiffs' lawsuits and the Intervenor's Intervenor's motion for intervention are dismissed.

2. Of the litigation costs, the Plaintiffs and the lawsuit costs.

(1)(i)A natural person shall become a management manager under a contract for acquisition of shares. - Adjustment and change of the conversion price: (a) If shares are issued by capitalizing capital of capital increase, stock dividends, and reserve at 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 = (the conversion price before adjustment x the number of issued shares x the number of issued shares before adjustment x the number of issued shares) / the initial conversion price - the number of issued new shares before adjustment ? the initial conversion price - the number of issued shares before adjustment x the number of issued shares - the initial conversion price 4,500 won before the exercise of the conversion right - the conversion price 4,500 won after adjustment , and the once adjustment price shall not be raised again in the case of the following before the exercise of the conversion right.

C. The net income of the Defendant Company was below KRW 3,00,000, average of KRW 1,231,000,000 in the year 2012, KRW 576,834,651, and KRW 1,231,012,10,000 in the net income of the Defendant Company. Accordingly, the Defendant Intervenor exercised the conversion right with the total amount of KRW 1,50,00 in the subscription price of convertible bonds pursuant to Article 14 of the Annex 1 to the subscription agreement of convertible bonds on April 29, 2016 (hereinafter “instant conversion right exercise”); however, the Defendant Company did not issue and deliver the share certificates to the Defendant Intervenor up to now.

[Ground of recognition] Facts without dispute, Gap evidence Nos. 1, 3 through 5, 8 (including each number in case of provisional number; hereinafter the same shall apply), Eul evidence Nos. 1, 3 and 12, and the purport of the whole pleadings

2. Summary of the plaintiffs' assertion

A. At the time of exercising the right to convert, the Defendant Company’s stock price of the Defendant Company was KRW 10,000 per share at the time the Defendant’s primary claimant’s Intervenor’s primary claim was entitled to convert.