A. On April 21, 2016, the Plaintiff entered into an agreement with Defendant B Co., Ltd. (hereinafter “Defendant Co., Ltd.”) on a limited loan with the effect that the Defendant Co., Ltd provided livestock products stored in freezing warehouses as collateral for transfer (hereinafter “instant loan agreement”) within the limit of KRW 1 billion for a period from April 21, 2016 to April 20, 2017, on the condition that the Plaintiff would lend business funds to the Defendant Co., Ltd. (hereinafter “the instant loan agreement”). The Defendant Co., Ltd, the representative director of the Defendant Co., Ltd, as a joint and several liability for the Defendant Co., Ltd’s obligations under the instant loan agreement.

B. According to the instant loan agreement, interest shall be 8.9% per annum, and the interest rate for delay shall be 25% per annum, and the debtor shall immediately lose the benefit of all obligations owed to the plaintiff, where “if the obligation under this agreement has not been paid for 14 consecutive days from the due date.”

C. Based on the instant loan agreement, the Defendant Company borrowed KRW 49,400,000, totaling KRW 180,100,000 on October 21, 2016, KRW 33,70,000 on October 24, 2016, KRW 25.22,200,000 on October 27, 2016, and KRW 263,40,00 on October 27, 2016.

However, even though the maturity of each of the above loans was expired, the Defendant Company failed to repay it, and on January 24, 2017, the Plaintiff notified Defendant Company and Defendant C of the loss of the maturity of the loans and the repayment of other loans until February 6, 2017. However, the Defendants did not perform the said obligation.

E. The total amount of the principal of the loan as of February 2, 2017 of the loan agreement of this case, which has lost the benefit of time due to the lapse of 14 days or more, shall be KRW 49,400,000, and the interest accrued until that time shall be KRW 3,234,176.

[Reasons for Recognition] Facts without dispute between the parties, Gap evidence 1 to 5 (including each number, hereinafter the same shall apply), the purport of the whole pleadings

2. The cause of the action.