(a) Claim indication: As of November 18, 2014, the Plaintiff acquired, and as of November 18, 2014, 23,927,377,377,445,69,000 won in aggregate of KRW 43,373,069,000,0000,0000 won in total, as of the date of the agreement on the loan of credit financial institutions as specified below;

(b) Judgment by publication (Article 208 (3) 3 of the Civil Procedure Act)

2. The fact that Defendant B had jointly and severally and severally guaranteed the obligation on the loans specified in the table of paragraph (1) by Defendant B as to the claim against Defendant B is no dispute between the parties, and the defendant B has extinguished by prescription.

The claims for loans stated in the above table are loans to Defendant A, a member of the credit union, and the above union is a credit union established under the Credit Unions Act. According to Articles 1 and 2 of the above Act, the credit union provides that it is a non-profit corporation established for the purpose of contributing to the development of the regional economy by improving the economic and social status of its members through the sound fostering of credit cooperative organizations based on common bond and providing financial convenience to local residents. Thus, since it cannot be viewed as a merchant for profit-making purposes, the Civil Act is not applicable to its activities and transactions except as otherwise expressly provided for in the above Act.

However, if the other party to the transaction with the credit union is a merchant, the Commercial Code can only be applied to the whole transaction by Article 3 of the Commercial Code.

(See Supreme Court Decisions 98Da10793, Feb. 10, 2006; 2004Da70475, Feb. 10, 2006; 2004Da70475, Feb. 10, 2006). However, in this case, there is no evidence to acknowledge that Defendant A was a merchant at the time of the above loan. Thus, the extinctive prescription period of a loan claim is ten years, which is the extinctive prescription period

On the other hand, joint and several sureties's obligations are based on the subsidiary nature.