All appeals by the plaintiffs are dismissed.

The costs of appeal are assessed against the plaintiffs.

The purport of the claim and appeal is the purport of the appeal.

1. Summary of the parties' arguments;

A. Plaintiffs 1) Defendant H Co., Ltd. (hereinafter “Defendant H”)

(i)10,000 common shares of 10,000 shares (the face value of 5,000 shares per share, hereinafter referred to as the “instant shares”) that do not have issued the share certificates;

Of them, Plaintiff A owned 4,00 shares, Plaintiff B, and Plaintiff C owned 3,000 shares, respectively. (2) On January 11, 2018, the Plaintiffs entered into a share transfer contract with Defendant D, 2,000 shares, and 2,00 shares to Defendant E, and 2,00 shares to Defendant F, respectively, (hereinafter “instant contract”), and Defendant D, E, F, F, and G set the share transfer price of KRW 30,00,00 in installments from March 25, 2018 to KRW 30,000,000, and the transfer price of shares was paid in installments under the name of Defendant HD’s shareholder registry, etc. (hereinafter “instant contract”).

3) However, Defendant D et al. did not pay the remainder by paying only the share transfer price of KRW 5,00,000 until April 23, 2018. As such, Defendant D et al., the representative of the Plaintiffs, rescinded the instant contract on June 8, 2018 on the ground of Defendant D et al.’s non-performance of obligation by Defendant D et al. Accordingly, four persons, including Defendant D et al., are obligated to return the instant shares transferred to the Plaintiffs, and Defendant H is obligated to implement the procedure to write the name of the shareholders on the shareholder registry in the name of the Plaintiffs. (B) The actual parties to the instant contract are I and K, and four persons, including Defendant D et al., did not have concluded the instant contract with the Plaintiffs.

However, four defendant D et al. lend only the name of the shares of this case that K acquired from I.

2. Therefore, the above plaintiffs' claims based on the premise that the parties to the contract of this case are four persons, including the plaintiffs and defendant D, are without merit.

2. Determination

A. The parties to the instant contract were confirmed, and the Plaintiffs concluded the instant contract with Defendant D et al.