2. The plaintiff's claim against the defendant is dismissed.

3...

A. Credit guarantee agreement and loan 1) The Plaintiff is a co-defendant, Co-Defendant, Ltd., Non-Defendant S&D (hereinafter “State”) in the first instance trial.

B) As regards the obligation to be loaned from a bank by the non-identical S&D, the credit guarantee agreement (hereinafter referred to as the “each credit guarantee agreement of this case”) is as follows:

(1) The term “credit guarantee agreement” (hereinafter referred to as “credit guarantee agreement”) set out from December 11, 2007 to December 10, 2008 as the credit guarantee principal of the credit guarantee amount of KRW 97,750,000, and the guarantee period of the credit guarantee agreement set out from December 11, 2007 to December 10, 2008.

(2) The credit guarantee agreement (hereinafter “credit guarantee agreement”) established on February 17, 2009 with the credit guarantee principal of KRW 200,000,000, and the guarantee period from February 17, 2009 to February 16, 2010 (hereinafter “credit guarantee agreement”).

(2) (State) SPD obtained each credit guarantee form issued by the Plaintiff from the bank as security, respectively, a loan of KRW 115,000,000 from the bank under a credit guarantee agreement on December 12, 2007, and KRW 200,000,000, pursuant to the credit guarantee agreement on February 25, 2009.

3) After that, the first credit guarantee agreement was amended as of December 6, 2013 by the guaranteed amount of KRW 87,975,00, and the guarantee term of KRW 180,00,000, and the guarantee term of KRW 14,200,00, respectively. (4) According to each of the credit guarantee agreements of this case, according to each of the instant credit guarantee agreements, the Plaintiff makes a substitute payment for the Plaintiff when non-SPD is unable to repay its loan obligations, and (ju) non-SPD shall pay the Plaintiff the amount of the subrogated payment and the damages for delay calculated as of the rate determined by the Plaintiff from the date of the subrogated payment to the date of full payment (12%) and the expenses, penalty, etc. paid by the Plaintiff in order to enforce or preserve its rights.

5) Codefendant A of the first instance trial (hereinafter referred to as “A”).

(B) At the time of each credit guarantee agreement of the instant case, the Plaintiff jointly and severally guaranteed all the obligations to be borne by Non-SPD to the Plaintiff pursuant to each credit guarantee agreement of the instant case.