1. All appeals filed by the plaintiff and the defendant are dismissed.

2. The costs of appeal shall be borne by each party.

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

1. Basic facts

A. The defendant's status and the issuance of corporate bonds by the KCAC, etc.

(D) D Co., Ltd. (hereinafter “D”).

(E) Co., Ltd. (hereinafter “E”);

The F Group’s affiliated company, which is a business group, was incorporated into G’s affiliated company from Jun. 11, 2014 to Jun. 11, 2014. 2) The F Group’s affiliated company was incorporated into G’s affiliated company from Mar. 30, 2012, May 4, 2012, 257, and May 4, 2012, 257, and 260 times as of Jun. 7, 2012, and 260 times as of Jul. 4, 2012, each of the credit rating BB’s non-guaranteed options bonds issued on Sept. 26, 2012 (referring to bonds issued by the bond holder at once during a given period prior to the issuance date, which can claim the payment of principal and interest on bonds to the issuing company; 203.63 times as of Jun. 21, 2016; 203.6.

(Evidence 18, 32). (b)

The plaintiff's corporate bond acquisition 1) The defendant, as a member of the KFC's corporate bond offering mediation group, was in charge of the solicitation of subscription to the general investors, the filing of subscription, and the general management of subscription documents. From February 2013 to February 1, 2013, in order to circumvent the provisions concerning the acquisition of securities issued by the FF group's other affiliated companies, 1/2 or more of the corporate bonds are not offered by the FF group's affiliated companies, 1/2 or more of the formal corporate bond acquisition administrator and disguised investors, 1/2 of the KFC corporate bonds were purchased by the defendant and sold them again to the general investors (Evidence No. 8. 2). The plaintiff acquired the KFC through the defendant's corporate bonds as stated in the "date" column in the attached Table 1 "date" column.

(No. 2). (c)

The progress of the relevant criminal case;