1. All appeals by the Defendants are dismissed.

2. The costs of appeal are assessed against the Defendants.

Purport of claim and appeal

1.

1. Facts of recognition;

A. On January 27, 2012, the Overseas Savings Bank Co., Ltd. lent KRW 13,00,000 to Defendant A at annual interest rate of KRW 17.9%, annual interest rate of KRW 24% (Provided, That the first agreed interest rate of at least three months during the overdue period, 1.0% at the first agreed interest rate of at least three months), and the due date of repayment on February 20, 2015, respectively (hereinafter “instant loan”). Defendant B Co., Ltd guaranteed the Defendant’s above loan obligations within the scope of KRW 16,90,000 on the same day.

B. Defendant A is in arrears with the repayment of the instant loan obligation for at least 24 months, and the said loan obligation remains as of November 2, 2016 (the principal amount is KRW 8,408,462).

C. On July 1, 2013, 2013, the Central District Court (Seoul District Court 2013Hahap89) was declared bankrupt, and the Plaintiff was appointed as the trustee in bankruptcy.

[Ground of recognition] Facts without dispute, entry of Gap evidence 1 to 4, purport of the whole pleadings

2. According to the facts of the determination as to the cause of the claim, the Defendants jointly and severally pay to the Plaintiff the amount of KRW 15,680,233, and the principal amount of KRW 8,408,462 as of November 2, 2016, the damages for delay calculated at the rate of 25% per annum under the agreement from November 3, 2016 to the date of full payment as of November 3, 2016, and the Defendant B is liable to pay to the Plaintiff within the limit of KRW 16,90,000,00.

(3) The plaintiff's appeal against the defendants is justified in concluding the judgment of the court of first instance. Thus, the defendants' appeal is dismissed as it is without merit. It is so decided as per Disposition by the assent of all.