The credit transaction agreement of the Plaintiff (Counterclaim Defendant) Company B on March 29, 201 is based on the credit transaction agreement with the Defendant (Counterclaim Plaintiff).

A. At the time of March 29, 2011, Plaintiff A was the representative director of Plaintiff Company (hereinafter “C”).

The Korea Savings Bank (hereinafter referred to as the "Korea Savings Bank") was declared bankrupt on February 28, 2013 and the defendant was appointed as the trustee in bankruptcy on the same day.

B. On March 29, 2011, Korea Savings Bank entered into a credit transaction agreement (hereinafter “instant credit transaction agreement”) with the Plaintiff Company on a set of KRW 500 million, KRW 130,000,00 per annum on March 29, 201, the expiration date of the credit, KRW 13% per annum, and KRW 23% per annum on delay damages. From the same date to June 3, 2011, Korea Savings Bank extended a loan of KRW 500,000 (hereinafter “instant loan”) through the bank account (Account Number D; hereinafter “instant account”) in the name of the Plaintiff Company from the same date.

C. At the time, Plaintiff A, based on the instant credit transaction agreement, guaranteed the Plaintiff Company’s debt to the Korea Savings Bank within the limit of KRW 650 million (hereinafter “instant guarantee agreement”). D.

The interest on the instant loan was paid until January 27, 2012.

[Basis] Facts without dispute, Gap's evidence Nos. 1, 2, Eul's evidence Nos. 2, 6, 10 (including each number; hereinafter the same shall apply) and the purport of the whole pleadings and arguments as follows: Gap's evidence Nos. 1, 6, and 2 are proved to have signed and sealed the plaintiffs without authority; however, according to the witness E and F's testimony, each of the above signatures and seals is acknowledged to have been directly signed and sealed by the plaintiff Gap).

2. Determination on the main claim

A. The Plaintiffs’ respective obligations based on the instant credit transaction agreement and guarantee agreement do not exist for the following reasons.

1) At the time of the Plaintiff Company, the representative director A, the Plaintiff Company G (hereinafter “G”).

If E, the president of the Korea Savings Bank, together with F, as an employee of the Korea Savings Bank, puts his/her signature and seal on the evidence A of the Credit Savings Agreement, the Plaintiff Company was not paid by G.