A. On May 15, 2014, the Plaintiff established a stock company C (hereinafter “instant corporation”) and run the business of manufacturing electrical and electronic parts in the name of the instant corporation. On April 2, 2015, the Plaintiff entered into a corporation acquisition agreement with the Defendant, who operated the instant business with the trade name “D” (hereinafter “instant contract”).

B. At the time of entering into the instant contract, the Defendant agreed to take over the liabilities of the instant corporation KRW 207,360,000 (i.e., KRW 200,000 for long-term loans of KRW 7,360,000 for executives of shareholders) in a lump sum, and to pay KRW 60,000 for the acquisition price after three months from the date of entering into the said contract.

C. On April 9, 2015, the Defendant assumed office as an internal director of the instant corporation and completed registration on April 10, 2015.

On the other hand, on July 10, 2014, the instant corporation entered into a credit guarantee agreement with the creditor Industrial Bank of Korea, the credit guarantee principal of KRW 180,00,000, type of credit guarantee loan guarantee, and the credit guarantee period from July 10, 2014 to July 9, 2015. The Plaintiff became a joint and several surety of the instant corporation at the time of the said credit guarantee agreement.

However, the Korea Credit Guarantee Fund did not repay a long-term loan of KRW 200,000,000, which the Defendant agreed to take over upon entering into the instant contract, upon performing the guaranteed obligation under the said credit guarantee agreement, filed a claim for reimbursement with the Plaintiff, a joint guarantor, after performing the guaranteed obligation under the said credit guarantee agreement. The Plaintiff filed an application for individual rehabilitation and received a decision to commence the individual rehabilitation procedure on April 25, 2016.

E. According to the draft repayment plan prepared by the Plaintiff at the time of filing an application for individual rehabilitation, the amount of the confirmed debt to the Credit Guarantee Fund is KRW 179,618,90, and the amount that the Plaintiff is obligated to pay to the Credit Guarantee Fund in the future is KRW 86,932,1

[Ground for Recognition: Facts without dispute, entry of Gap evidence 1 through 4, 14, 16, 17, and purport of whole pleadings]

2. Determination as to the cause of action

(a) above;