1. The judgment of the court of first instance is modified as follows.

The defendant shall have the shares listed in the attached list from the plaintiff.

1. Facts of recognition;

A. On October 20, 201, the Plaintiff entered into an investment agreement on KRW 200 million (hereinafter “instant investment agreement”) with C Co., Ltd. (hereinafter “C”), and the terms and conditions of the investment are as follows.

B. From October 20, 201, the Plaintiff and C determined that the instant investment agreement takes effect by depositing KRW 200 million into the account designated by C until October 20, 201. On October 20, 201, the Plaintiff transferred KRW 200 million to the E-bank account (Account Number:F) in the name of the representative director C, as agreed by the Plaintiff.

C. On November 30, 2012, the Defendant merged C with the Defendant, and the Plaintiff did not receive the investment money under the instant investment agreement from C or the Defendant.

[Ground of recognition] Facts without dispute, Gap evidence 1, 2, and 4, response to the order of the first instance court to submit financial transaction information to E banks, the purport of the whole pleadings

2. Determination on the cause of the claim

A. According to the above facts of recognition, the defendant who absorbs C is obligated to pay to the plaintiff the investment amount of KRW 200 million pursuant to the investment agreement of this case and damages for delay, unless there are special circumstances.

B. The Defendant’s assertion and determination 1) The Defendant asserts that, on November 30, 201, C remitted KRW 100 million to the Plaintiff on the part of the investment deposit, and thereby, C returned KRW 100 million, which is a part of the investment amount under the instant investment agreement. According to the results of the written evidence No. 1 and the response to the first instance court’s order to submit financial transaction information to E banks, D can be acknowledged on November 30, 201, according to the fact that the Plaintiff’s corporate bank account (Account Number: KRW 100 million) was remitted to G.

However, in light of Gap evidence Nos. 5 and 6 and witness witness D’s testimony, the above facts alone are insufficient to recognize the fact that the above 100 million won is the return of investment money under the investment agreement of this case, and there is evidence to acknowledge otherwise.