1. Of the judgment of the first instance, the part against the defendant, including a claim for exchange change in this court, is as follows.

1. Basic facts

A. On November 15, 2017, the Plaintiff entered into a credit guarantee agreement and transparent management performance agreement (hereinafter “the instant credit guarantee agreement”) stipulating the amount guaranteed as KRW 150,00,000, and the period of guarantee as until November 13, 2020 (hereinafter “the instant credit guarantee agreement”).

2) A obtained a loan of KRW 150,00,000 from a branch of a square (D) No. 2 of D Co., Ltd. (hereinafter “D bank”) as security for a guarantee under the instant credit guarantee agreement by setting the time limit for the loan by November 13, 2020.

3) When concluding the instant credit guarantee agreement, the Plaintiff was a representative director A.

The Agreement on Performance of transparent Management (hereinafter “the Agreement”) was concluded with Defendant B (hereinafter “B”) co-defendant in the first instance trial, and the main contents thereof are as follows:

Section 1 (Purpose) The purpose of this Arrangement is to discharge the management obligation to the guaranteed enterprise in connection with the credit guarantee agreement under the following.

1. Guarantee Company: Limited Company A;

2. Credit guarantee agreement: A credit guarantee agreement concluded on November 15, 2017 (individual transaction/limit transaction).

3. Principal of Guarantee (Maximum Amount): 150,000,000 won is the contractual person under Article 2 (Management Obligations) of the Agreement shall, instead of complying with the joint and several liability under Article 1 for the credit guarantee agreement, faithfully perform the following management obligations:

Article 3 (Violation of Business Responsibilities and Joint Guarantee Liability) ① Where a person violates the management obligation under Article 2 (2) of the Financial-Related Act when he/she disposes of at least 1/2 of his/her equity interest as at the time of the conclusion of an agreement to withdraw or to perform transparent management in the prohibition of use of a security loan, a letter of guarantee prescribed in Article 1 that prohibits the alteration of accounting standards under the Financial-Related Act, the submission of fraudulent documents, or the submission of false data, such as occupational embezzlement, breach of trust, bribery, bribery, and the diversion of funds, etc.