1. The Defendant’s KRW 536,350,026 and the Plaintiff’s annual rate of KRW 6% from January 1, 2018 to January 18, 2019.

1. Basic facts

A. The Defendant is a company that engages in the business of manufacturing, selling, etc. of flow meters and heat meters.

The Plaintiff is an employee from May 1, 1999 to June 30, 199; a director from June 30, 2002 to June 30, 2002; an executive director from July 1, 2002 to November 30, 2003; and a person who served as the president from December 1, 2003 to December 31, 2017 and retired on December 31, 2017.

B. On January 25, 2008, the Plaintiff prepared a loan certificate stating that “the Plaintiff borrowed KRW 120 million from the Defendant on January 25, 2008,” and issued it to the Defendant, “the Plaintiff borrowed KRW 80 million from the Defendant on March 7, 2008.”

C. The defendant's provisions pertaining to the instant case are as follows.

Article 31 (Remuneration and Retirement Allowance) (1) The remuneration of executives or retirement allowance of executives shall be determined by a resolution of the general meeting of shareholders.

(2) The payment of retirement allowances for executives shall be made by the rules for the payment of retirement allowances for executives.

The retirement allowance of an executive officer under Article 4 (Calculation Method of Retirement Allowances) of the Regulations on Payment of Retirement Allowances shall be the amount calculated by deducting the payment rate of retirement allowances from the amount of monthly remuneration at the

Provided, That the term "amount of monthly remuneration" means the amount calculated by adding the monthly average bonus to the monthly wage.

Article 5 (Payment Rate of Retirement Allowances) The payment rate of retirement allowances for executives shall be as follows:

1. A director or auditor 1.5, an executive director 2, a managing director 2.3, a vice president 2.5, a president, a vice president 2.5, and a president, a vice president, or the president 3-months;

2. The period of service before the appointment of officers shall be the payment rate of members.

Article 6 (Calculation of Period of Reappointment)

1. In the calculation of the term of office, if there is a fractional number of less than one year in the term of office, it shall be calculated monthly, but the fractional number less than one month shall be one month;

2. For an officer who has not paid a retirement allowance for the period of his/her service before his/her appointment as an officer, the period shall be calculated separately from the period of office

Article 8 (Restriction on Payment) Officers shall be a general meeting of stockholders due to reasons attributable to them.