A. On July 27, 2009, the Plaintiff entered into a credit guarantee agreement with Defendant A Co., Ltd. (hereinafter “Defendant Co., Ltd.”) with a guarantee number D on KRW 324,00,00 of the payment deposit for the import letter of credit issued by the Defendant Co., Ltd. (hereinafter “Defendant Co., Ltd.”) and with a guarantee number D on KRW 259,20,000 (the change to KRW 221,616,000) and July 26, 2010 of the guarantee period (the change to July 25, 2014), and Defendant B jointly and severally guaranteed the liability for indemnity to be borne by the Defendant Co., Ltd. against the Plaintiff under the said credit guarantee agreement.

B. According to the above credit guarantee agreement, when the Plaintiff was notified of the occurrence of a cause for non-performing credit guarantee or requested the performance of a guaranteed obligation by a creditor among creditors of credit guarantee under the above credit guarantee agreement and other creditors of credit guarantee, Defendant Company and Defendant B, even without notice and peremptory notice from the Plaintiff, shall bear the Plaintiff’s obligation to repay in advance the amount guaranteed by the Plaintiff. When the Plaintiff fulfilled the guaranteed obligation, the Plaintiff shall pay the amount of the performance and the amount calculated by multiplying the amount of the guaranteed obligation by the rate prescribed by the Plaintiff (15% per annum from June 1, 2005 to November 30, 2012) from the date of repayment of the guaranteed obligation, expenses incurred in the performance of the guaranteed obligation, expenses incurred in the preservation and transfer of the guaranteed obligation, expenses incurred in the discharge of the guaranteed obligation, unpaid guarantee fee, delay guarantee fee, penalty, insurance premium paid by the Plaintiff on behalf of the Plaintiff, expenses incurred in the legal procedure for the enforcement and preservation of the claim, exercise of the guarantee obligation, etc.

C. On October 8, 2013, the Defendant Company received a payment guarantee from a foreign exchange bank as a security for the Plaintiff’s credit guarantee, and a credit guarantee accident (payment by proxy for an import letter of credit) occurred.

On April 10, 2014, the Plaintiff subrogated to the foreign exchange bank for KRW 195,358,968 as the principal and interest of the debt arising from the credit guarantee of this case.