A. On June 20, 2008, Korea Savings Bank Co., Ltd. (hereinafter “Korea Savings Bank”) borrowed 1.8 billion won (hereinafter “instant loan”) with joint and several sureties Co., Ltd.’s interest rate of 12% per annum, 25% per annum, and due date of payment on June 20, 2009 (hereinafter “instant loan”). The Defendants’ guarantee limit amount is KRW 2,340,000,000, respectively.

B. around May 24, 2011, Alley lost the benefit of time for the instant loan. Since May 24, 2011, the interest rate applicable to the instant loan was 24% per annum, and on March 18, 2014, the total amount of the principal and interest of the instant loan was 3,057,328,444 won (i.e., principal amount of KRW 1.8 billion).

C. The Korea Savings Bank was declared bankrupt on April 30, 2013 by Seoul Central District Court 2013Hahap47, and the Plaintiff was appointed as the bankruptcy trustee.

[Ground of recognition] Facts without dispute, entry of Gap evidence Nos. 1 through 4, purport of whole pleadings

2. Determination:

A. According to the above facts of determination as to the cause of the claim, the Defendants are jointly and severally liable to pay to the Plaintiff the amount of KRW 200 million (20 million) of the principal and interest of the instant loan, calculated by the rate of 24% per annum from May 24, 2011 to the date of full payment, within the limit of KRW 2,340,000,000, each of which is the maximum amount of guarantee.

B. The Defendants’ assertion on the instant loan asserted to the effect that the right to collateral security has been established as a collateral for the instant loan, and thus the Plaintiff should exercise the right to collateral security first, but this is merely an independent assertion of the Defendants, and therefore is without merit.

3. It is so decided as per Disposition by the assent of all participating Justices on the ground that the plaintiff's claim is reasonable.