A. On July 19, 2010, Defendant A Agricultural Partnership (hereinafter “Defendant A”) entered into a credit guarantee agreement with the Plaintiff, setting the credit guarantee principal of KRW 160 million and one year from the date of loan of the credit guarantee term (hereinafter “instant credit guarantee agreement”).

B. On July 19, 2010, the Plaintiff issued to the Defendant Company a letter of credit guarantee for one year from the date of lending the guarantee term pursuant to the instant credit guarantee agreement, and the Defendant Company received a loan by designating KRW 200 million as of July 19, 201 from the National Agricultural Cooperative Federation Seocheon-gun Branch (hereinafter “CF”) on the same day as the expiration date of the credit term.

(hereinafter “instant loan”). C.

The maturity of the instant loan and the guarantee term of the instant credit guarantee agreement has been extended every one year. From December 5, 2012 to December 1, 2012, Defendant B signed and sealed the instant credit guarantee agreement as a joint guarantor on June 11, 2013. Accordingly, the maturity of the instant loan was July 19, 2014, and the guarantee term of the instant credit guarantee agreement was extended on July 19, 2014.

As the term of guarantee of the instant credit guarantee agreement expires on July 19, 2014, the Defendant Corporation submitted an application for change of the terms and conditions of the credit guarantee to the Plaintiff on July 21, 2014 to extend the term of guarantee for one year. Defendant B signed and sealed the said application as a joint guarantor.

E. Accordingly, on July 21, 2014, the Plaintiff drafted a letter of approval for the change of the terms and conditions of credit guarantee to the effect that the term of guarantee of the instant credit guarantee agreement was changed to July 19, 2015.

(f) According to the terms and conditions of a credit guarantee, if a creditor who is a beneficiary of the guarantee intends to extend the term of the guarantee, it shall be subject to the change in the terms and conditions of the credit guarantee, and the creditor shall implement the change in the terms and conditions within 30 days from the date of issuance of the letter of change and shall not implement the change in