2. The costs of appeal shall be borne by the Defendant.

Purport of claim and appeal

1..

A. On August 20, 2014, D Co., Ltd. (hereinafter “Nonindicted Company”) entered into a construction machinery loan agreement with the Plaintiff for the purpose of raising funds for the purchase of digging machines (R520L-BP, 2014 formula; hereinafter “instant digging machines”). Accordingly, the Plaintiff borrowed 300,000 won to Nonparty Company to Nonparty Company for a loan period of 60 months, interest rate of 9.5% per annum until the maturity of the loan, interest rate of 9.5% per annum, and delay interest rate of 24% per annum (hereinafter “instant loan”).

B. On the same day, the Defendant set the limit of collateral guarantee amount to KRW 390,000,000 for the instant loan obligations against the Plaintiff of the non-party company. In order to secure the instant loan obligations, the Plaintiff set up a collateral security right on the instant refacing machine in order to secure the instant loan claims.

C. After that, the non-party company lost the benefit of time due to the default of the installment repayment of the instant loan, and the Plaintiff filed an application for the auction of construction machinery rent G with the Changwon District Court Daon Branch G on May 29, 2017, and received dividends of KRW 1,267,902, which was paid at auction expense, and KRW 156,393,031, which was the remainder after deducting KRW 1,267,902, out of the above dividends, was appropriated for the principal of the instant loan.

As of January 4, 2018, the sum of the outstanding principal and interest of a non-party company following the instant loan amounting to KRW 194,316,225 (i.e., 4,361,94 overdue interest amounting to KRW 99,486,08). The agreed delay damages rate after the date is 24% per annum.

[Ground of recognition] Facts without dispute, entry of Gap evidence 1 through 8 (including paper numbers; hereinafter the same shall apply) and the purport of the whole pleadings

2. Determination:

A. According to the above facts, the Defendant, as a joint guarantor of the instant loan, is the creditor, from January 5, 2018 to the date of full payment of KRW 194,316,225 in total, including the outstanding principal debtor’s outstanding principal debtor’s loan and interest, and the balance of principal amount of KRW 90,078,90 in total.