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

Purport of claim and appeal

1...

A. On October 17, 2013, the Defendant purchased C25.5 tons of dump trucks (hereinafter “instant truck”) from the Seongdong Integrated Co., Ltd. on KRW 86 million. In the process, between B and B, the Defendant: (a) paid the above purchase price by receiving a loan under the name of B; and (b) registered the said truck under B; (c) the Defendant operated the said truck; and (d) furthermore, the Defendant agreed to fully bear or pay the principal and interest of the loan granted under the name of B, including taxes and public charges, expenses, and the principal and interest accruing from the operation of the truck.

B. B: (a) from October 17, 2013 to October 14, 2017, the loan period from the Plaintiff from October 17, 2013 to October 14, 2017; (b) the interest rate of 14.9% per annum; and (c) the delay compensation rate of 26.9% per annum; (d) obtained the instant truck loan from the Plaintiff, and paid the sales price for the instant truck; and (e) completed the ownership transfer registration for the instant truck on October 25, 2013; and (e) subsequently, the Plaintiff created a collateral security on the instant truck.

On the other hand, at the time of the loan of this case, the defendant jointly and severally guaranteed the obligation of the above loan to the plaintiff, and operated the above truck directly in the form of joining it into a large-day mid-term corporation.

C. However, due to the Plaintiff’s failure to pay the principal and interest of the instant loan to the Plaintiff, the benefit of the instant loan was lost, and as at March 4, 2015, the principal and interest of the instant loan amounting to KRW 21,307,582, and the total amount of interest or delay damages is KRW 1,606,200.

[Reasons for Recognition] Facts without dispute, Gap's entries in Gap's Evidence Nos. 1 through 4, 7, 15, 16, 18 (including each number, if any; hereinafter the same shall apply) and the purport of the whole pleadings

2. Determination

A. According to the above facts of determination as to the cause of the claim, the Defendant, a joint and several surety of the instant loan, is liable to compensate the Plaintiff for delay for the principal amounting to KRW 22,913,782 in total (i.e., principal amount of KRW 21,307,582 in total or damages for delay) and KRW 21,307,582 in total.