A. On January 29, 2019, the Plaintiff entered into a credit transaction agreement with Defendant C Co., Ltd. (hereinafter “Defendant Co., Ltd.”) with the term “2.5 billion won in loan principal, interest rate of 17% per annum, and 20% per annum per annum,” and borrowed KRW 2.5 billion on the same day.

Defendant D jointly and severally guaranteed the Defendant Company’s loan obligations against the Plaintiff.

B. In order to secure the above loan obligation on the same day, the Plaintiff entered into a security contract for shares, etc. with the Defendant Company, and received the first priority pledge as to the registered common shares 495,571 shares issued by the Defendant Company, which are owned by the Defendant Company.

C. On March 18, 2019, the grounds for delisting (the auditor’s opinion: the refusal of opinion) occurred with respect to the Defendant Company (the grounds for loss of benefit under Article 7(1)10 of the aforementioned Agreement on Security of Stocks, etc.) and the Defendant Company lost the benefit of the time limit for the instant credit transaction agreement.

The balance of the principal of the loan as of March 19, 201 under the instant credit transaction agreement is KRW 1,376,110,000.

[Reasons for Recognition] Unsatisfy, Gap 2-9 Evidence, the purport of the whole pleadings

2. According to the above facts of determination, since the defendant company lost the benefit of the time limit for the credit transaction agreement of this case, the defendant company and the joint guarantor of the credit transaction agreement of this case jointly and severally liable to pay to the plaintiff 1,376,110,000 won in balance of the loan principal and damages for delay calculated at the rate of 20% per annum from March 19, 2019 to the date of full payment, which is the balance of the loan principal, to the date of full payment.

The plaintiff's claim against the defendants shall be accepted with merit.