A. The Defendant entered into a credit guarantee agreement with the Plaintiff on February 15, 2005, with a view to guaranteeing the repayment of principal and interest of a small and medium enterprise loan of KRW 12,00,000, and with a credit guarantee period of KRW 10,800,000, and from February 15, 2005 to February 14, 2006 (the period of the above credit guarantee period has been extended up to July 4, 2014) (hereinafter “the first credit guarantee agreement”), issued a credit guarantee agreement with the Industrial Bank of Korea on February 15, 2005, with the above credit guarantee amount of KRW 12,00,000 as collateral, and received from the Industrial Bank of Korea the above credit guarantee amount of KRW 45,00,000 from the Industrial Bank of Korea until 30,706, 207, 207, 207, 2006.

C. According to each credit guarantee agreement concluded between the Plaintiff and the Defendant, when the Plaintiff performed the guaranteed obligation due to the Defendant’s default on the Bank of Korea, the Defendant shall pay to the Plaintiff the amount of the obligation to discharge the guaranteed obligation, damages for delay at the rate determined by the Plaintiff from the date of repayment of the guaranteed obligation, the expenses incurred in the preservation, transfer, and exercise of the right acquired from

The rate of damages for each period determined by the Plaintiff is 15% per annum from June 1, 2005 to November 30, 2012, and 12% per annum from December 1, 2012 to December 1, 2012.

The defendant on January 15, 2014.