The costs of appeal are assessed against the Defendants.

1. According to the reasoning of the judgment below as to the ground of appeal No. 1, the court below concluded a loan agreement of this case with Defendant B Co., Ltd. (hereinafter “Defendant B”) on December 1, 2010 on the loan principal of 12 billion won, interest rate of 10% per annum of December 1, 2011, interest rate of 10% per annum of delay of 3 months or more, and 25% per annum of delay interest rate of 25% per annum of 25% per annum under the loan agreement of this case. Defendant C jointly and severally guaranteed all obligations owed to Defendant B pursuant to the loan agreement of this case. ② The loan of 12 billion won was executed in accordance with the loan agreement of this case. ③ The Defendants delayed payment of interest on the loan of this case for 3 months or more, and determined that the Defendants were jointly and severally liable to pay damages for delay of 205 billion won per annum of the loan of this case to the Plaintiff as of January 31, 2012.

The allegation in the ground of appeal No. 1 is that "the time of arrears for more than three months" as referred to in the loan agreement of this case refers to the time of arrears for more than three months from the due date of the loan of this case. Thus, the damages rate for delay following the overdue arrears should be applied after March 1, 201, which was later than three months from December 1, 201, the due date of the loan of this case. However, the court below decided that the time of applying the damages for delay should be earlier than one month and from February 1, 2012 without any basis.