On June 8, 2010, the Plaintiff entered into a credit guarantee agreement with Defendant A Co., Ltd. (hereinafter “Defendant Company”) with a view to guaranteeing the performance of the obligation to repay loans that the Defendant Company will receive from the Industrial Bank of Korea (hereinafter “the instant credit guarantee agreement”) by setting the amount of KRW 240 million as the guaranteed amount and KRW 300 million as the guaranteed amount, June 3, 2011.

On June 8, 2010, Defendant B, the representative of the Defendant Company, jointly and severally guaranteed the liability for indemnity to be borne by the Defendant Company to the Plaintiff in accordance with the instant credit guarantee agreement.

According to the instant credit guarantee agreement, the Defendant Company and B paid damages calculated at the rate determined by the Plaintiff (12% per annum from December 1, 2012 to the date of full payment) set by the Plaintiff (12% per annum from December 1, 2012), ② legal procedure costs, ③ additional guarantee fees, etc.

(Article 10). The instant credit guarantee agreement was finally changed four times, and the amount guaranteed was finally reduced to KRW 216 million, and the term of guarantee was extended on May 29, 2015.

On June 8, 2010, the Defendant Company’s loan and the Plaintiff’s subrogation issued a credit guarantee certificate, such as the instant credit guarantee agreement, to the Defendant Company. The Defendant Company provided the Industrial Bank of Korea with the said credit guarantee certificate as security and has engaged in loan transactions within the limit of 300 million won from around that time (hereinafter “instant loan”). Accordingly, on October 7, 2014, the Defendant Company lost its interest due to delay in the principal of the instant loan.

Accordingly, on October 20, 2014, the Industrial Bank of Korea notified the Plaintiff of the occurrence of a guarantee accident, and the Plaintiff, in accordance with the Credit Guarantee Agreement, on December 9, 2014, extended the instant loans to the Industrial Bank of Korea.