A. On July 2, 2014, Defendant A Co., Ltd. (hereinafter “Defendant Company”) entered into a credit guarantee agreement with the Plaintiff as follows (The rate of guarantee fees: 1.5%, overdue interest rate after December 1, 2012: 12% per annum; hereinafter “each of the credit guarantee agreements in this case”) and Defendant B, the representative director of the Defendant Company, jointly and severally guaranteed the Defendant Company’s obligations under each of the credit guarantee agreements in this case.

Article 3 (Payment of Guarantee Fees, etc.) of the Credit Guarantee Agreement of the National Bank No. 1 of the instant case on July 3, 2015, July 3, 2015, when the Defendant Company fails to discharge the principal obligation within the period for payment of the principal obligation, the amount of the guaranteed obligation multiplied by the rate of 0.5% per annum for the amount of the guaranteed obligation plus the rate of 0.5% for the amount of the guaranteed obligation.

Article 6 (Prior Indemnity) (1) When any of the following events occurs with respect to the defendant company, the defendant company and the joint and several sureties shall bear the obligation to repay in advance the amount guaranteed by the plaintiff, even if there is no notification or peremptory notice from the plaintiff:

(b)

1. Where he/she violates Article 5;

9. When the plaintiff has been notified of the occurrence of the causes for non-performing credit guarantee or requested to discharge a guaranteed obligation from a creditor of a credit guarantee under this Agreement and another creditor of credit guarantee, Article 10 (Scope of Repayment) (1) When the plaintiff has discharged a guaranteed obligation, the defendant company and the joint guarantor shall immediately refund the amount falling under any of the following

(b)

1. Performance amount of the surety obligation;

5. Unpaid guarantee fees, late guarantee fees and penalty;

B. The Defendant Company under a credit guarantee shall provide a credit guarantee form under each credit guarantee agreement of this case from the National Bank as security on July 2014.