2. The costs of lawsuit shall be borne by the Plaintiff.

A. On March 23, 2007, the Defendant asserted that the Plaintiff borrowed KRW 50 million from Daesung Mutual Savings Bank Co., Ltd., Inc., and the Plaintiff jointly and severally guaranteed the said loans.

Since the Plaintiff subrogated for the said KRW 50 million to Taesung Mutual Savings Bank Co., Ltd. on April 23, 2009, the Defendant is obligated to pay the Plaintiff KRW 50 million and delay damages.

(hereinafter “instant claim for reimbursement”). B.

Since the defendant's assertion is declared bankrupt and the decision to grant immunity, the plaintiff cannot compel the defendant to perform his/her obligation.

2. Determination on the lawfulness of the instant lawsuit

A. Article 423 of the Debtor Rehabilitation and Bankruptcy Act (hereinafter “Act”) provides that “A debtor shall be entitled to any property claim arising from a cause arising before bankruptcy is declared bankrupt,” and Article 566 of the Act provides that “a debtor granted immunity shall be exempted from all of his/her obligations to bankruptcy creditors except for dividends arising from bankruptcy procedures: Provided, That a debtor granted immunity shall not be exempt from all of his/her obligations with respect to any of the following claims.” Thus, even if a bankruptcy claim is not entered in the list of creditors of the application for immunity, unless it falls under any of the subparagraphs of Article 566 of the Act (see, e.g., Supreme Court Decision 2010Da3353, May 13, 2010).” In addition, the term “Immunity” means that a debtor is not able to enforce the performance of his/her obligations to the bankruptcy debtor, even if his/her obligations exist independently.

Therefore, when a decision to grant immunity to a bankrupt debtor becomes final and conclusive, a claim that has been granted immunity would lose the capacity to file a lawsuit (see, e.g., Supreme Court Decision 2015Da28173, Sept. 10, 2015). Meanwhile, “a claim that is not recorded in the list of creditors in bad faith by an obligor” under Article 566 Subparag. 7 of the Act refers to the obligor’s exemption.