On November 16, 2015, the Plaintiff entered into a credit guarantee agreement (hereinafter “the instant credit guarantee agreement”) with Defendant Incorporated Incorporated Company A (hereinafter “Defendant Company”) with a view to guaranteeing the Defendant Company’s debt to D Bank, setting the guaranteed amount of KRW 630,000,000, and the term of guarantee from November 16, 2015 to November 14, 2025, and the Defendant B, the representative of the Defendant Company, jointly and severally guaranteed the Defendant Company’s debt to the Plaintiff under the instant credit guarantee agreement.

The content of the instant credit guarantee agreement and Defendant B agreed on the scope of reimbursement under the instant credit guarantee agreement as follows.

Article 8 (Security) (3) A principal agrees to purchase an insurance policy for a security and the kind and amount designated by the plaintiff, to establish a pledge on the claim for the insurance money for the plaintiff, and shall continue to maintain the pledge on the claim for the insurance contract and the insurance money during the existence of this Agreement.

Article 10 (Scope of Repayment) (1) Where a plaintiff has discharged a guaranteed obligation, the joint and several sureties him/herself and the joint and several sureties shall immediately refund the following amounts:

Omission of theproviso

1. Performance amount of the surety obligation;

2. Damages for the amount under subparagraph 1 according to the rate determined by the plaintiff from the date of discharge of guarantee obligation until the date of redemption.

3. Expenses for discharge of surety obligations;

4. Expenses for preservation, transfer and exercise of the right acquired through the discharge of guaranteed liabilities;

5. Unpaid guarantee fees, late guarantee fees and penalty;

6. 제 3, 4호의 지급금액에 대하여 긱 지급일로부터 상환일까지 원고가 정한 요율에 의한 지연손해금

(2) The principal and the joint guarantor shall pay the following expenses paid by the plaintiff on behalf of the plaintiff and damages for delay in accordance with the rate determined by the plaintiff:

Omission of the proviso

1. Insurance premiums paid on behalf of the plaintiff pursuant to Article 8 (3);

2. The parties to the occurrence and scope of enforcement, preservation (including termination) and exercise of the claims and the right to demand reimbursement of the legal procedural costs therefor.