A. On September 18, 2007, the Industrial Bank of Korea completed the registration of the establishment of a neighboring mortgage on the land, etc. of the Masan-si, Changwon-si, the B-owned land, etc. (hereinafter “instant real estate, etc.”) at KRW 1.2 billion with the maximum debt amount, and B, the debtor.

(B) B. The Industrial Bank of Korea entered into a credit transaction agreement with B on September 1, 2010 with the credit limit of KRW 260 million on the due date, July 9, 2015, and extended loans accordingly. On September 3, 2010, the Industrial Bank of Korea completed the registration of creation of a mortgage over the instant real estate, etc. with the maximum debt amount of KRW 260 million and the debtor B (hereinafter “mortgage 2”) on February 27, 2011. The Plaintiff entered into a credit guarantee agreement with the scope of KRW 234 million on the debt amount of the said loan within the scope of KRW 90 million.

When the Plaintiff fulfilled the above guaranteed liability, it shall collect 12% (10% per annum from February 1, 2016) of the amount paid from B under the laws and regulations of the Korea Technology Finance Corporation.

C. Upon delinquency in the payment of the above loan, on July 16, 2015, the Plaintiff subrogated to the Industrial Bank of Korea totaling KRW 103,705,657 (principal KRW 102,150,000, interest KRW 1,555,657) pursuant to the aforementioned credit guarantee agreement. On the same day, the Plaintiff concluded a contract for partial transfer of collateral security, which includes the following:

(hereinafter “instant partial transfer contract”). On August 5, 2015, according to the instant partial transfer contract, the Plaintiff completed the supplementary registration of the partial transfer of the right to collateral security (103,705,657), which was the repayment amount of 103,705,657.

(hereinafter referred to as the “Supplementary Registration”). A contract is entered into with mutual agreement between the parties by transferring the right to collateral security and the right to collateral security to the public due to the payment of the said right by subrogation as set forth in Article 1 (Transfer of Collateral Security).

The amount to be transferred: Article 2 (Order of Appropriation of Amount Collected by Distribution) (1) The order of appropriation of the amount of dividends under the above-mortgage (including the amount yet to be transferred) shall be as follows: