On December 24, 2014, the Plaintiff entered into a credit guarantee agreement with Defendant Farming Association A (hereinafter “Defendant Company”) to guarantee the performance of the obligation to repay loans of Defendant Company at KRW 100,000,000 as the guaranteed amount (hereinafter “instant guarantee agreement”) and the Defendant Company was issued a credit guarantee agreement under the instant guarantee agreement.

According to the instant guarantee agreement, when the Plaintiff performed the guaranteed obligation under the instant guarantee agreement, the Defendant Company shall pay the amount subrogated by the Plaintiff to the Plaintiff, delay damages from the date of subrogation to the date of repayment, and expenses incurred in preserving, transferring, and exercising the right acquired by the Plaintiff by subrogation. The agreed delay damages rate for the subrogated amount is ten percent per annum from February 1, 2016 to the date.

When concluding the instant guarantee agreement, Defendant B, the representative director of the Defendant Company, guaranteed all obligations owed by the Defendant Company to the Plaintiff.

Based on the above credit guarantee certificate, the Defendant Company borrowed KRW 125,000,000 from the Jeonbuk Bank.

Around June 21, 2017, the Plaintiff’s subrogation company lost the benefit of time due to natural retardation, and the Plaintiff paid the total of KRW 102,70,821 to the Jeonbuk Bank Co., Ltd. around September 4, 2017, on behalf of the Defendant Company.

Attached Form

On May 25, 2017, Defendant B, upon receipt of the ownership transfer registration for each of the real estate listed in the separate sheet, completed the ownership transfer registration (hereinafter “instant ownership transfer registration”) in Defendant C on June 8, 2017 on the grounds of the sales contract on May 25, 2017 (hereinafter “instant sales contract”).

[Ground for recognition] Defendant A, B: Confession (Article 150(3) of the Civil Procedure Act) Defendant C: