A. On November 30, 2007, the Plaintiff entered into a credit guarantee agreement with Defendant A for the obligation to repay the loan up to the amount of KRW 50,000,000, the guaranteed amount of KRW 45,000,000, and the guaranteed period of November 28, 2008, and issued a credit guarantee agreement with Defendant A with the primary debtor for the obligation to repay the loan.

B. Defendant A was loaned KRW 50,000,000 from Korea Standards Bank through the Plaintiff’s credit guarantee.

C. Defendant B jointly and severally guaranteed all obligations owed by Defendant A to the Plaintiff.

Since then, Defendant A continued to extend the term of guarantee of the above credit guarantee by means of recovering the old guarantee and concluding a new credit guarantee agreement with the Plaintiff. On November 21, 2012, Defendant A entered into a credit guarantee agreement with the Plaintiff up to November 20, 2013, including the estimated loan amount of 50,000,000 won, security deposit of 45,000,000 won, and the guarantee term of 20,013, and Defendant B guaranteed the Defendant’s debt to the Plaintiff.

(hereinafter referred to as the “instant credit guarantee agreement”). (e)

On August 1, 2013, due to the insolvency of credit guarantee for Defendant A’s temporary or permanent closure, the Plaintiff subrogated the Plaintiff to the Korea Standards Bank on March 4, 2014 at KRW 45,725,495 (i.e., the principal and interest of the loan principal KRW 45,00,000, KRW 732,216-Reduction 6,721).

F. According to the instant credit guarantee agreement, where the principal obligation is not repaid by the guarantee deadline, Defendant A agreed to pay the penalty determined by the Plaintiff during that period. The penalty arising therefrom is KRW 30,160,000.

G. According to Article 10 of the Credit Guarantee Agreement, Defendant A and joint guarantor agreed to pay damages for delay calculated at the rate determined by the Plaintiff from the date of performance of the guaranteed obligation on behalf of the Plaintiff until the date of repayment of the guaranteed obligation, and the rate of damages for delay is 12%.