1. The Defendants are jointly and severally liable to the Plaintiff for 27,56,768 won and the interest thereon from February 2, 2016 to the date of full payment.

1. Facts of recognition;

A. On August 13, 2014, Defendant A entered into a loan agreement with Hyundai Social Co., Ltd. with a term of KRW 40,000,000 as a 36-month period, interest rate of KRW 14.9% per annum. Defendant A lost the benefit of time when a cause for loss of benefit under the terms and conditions of installment financing company’s loan transaction or credit transaction agreement occurs, and set the rate of delay damages for the remaining principal and obligations at 26.9% per annum. Defendant B jointly and severally guaranteed Defendant A’s obligations to Hyundai Social Co., Ltd.

B. Defendant A lost the benefit of time on November 20, 2015 by failing to implement repayment of principal and interest.

C. On April 4, 2008, the Plaintiff entered into a claim transfer agreement with Hyundai Social Co., Ltd. under a continuous contract. On February 2, 2016, the Plaintiff received the claim against the Defendants from the said company. On February 4, 2016, the said company notified the Defendants of the transfer of the claim.

The claims against the Defendants of Hyundai Social Co., Ltd are KRW 27,56,768 on February 1, 2016.

【Defendant A’s ground for recognition】 Each entry of evidence Nos. 1 through 11, and the purport of the whole pleadings: Defendant B: by public notice (Article 208(3)3 of the Civil Procedure Act)

2. According to the above facts of recognition, the Defendants are jointly and severally liable to pay to the Plaintiff KRW 27,556,768 and damages for delay at the rate of 26.9% per annum under the agreement from February 2, 2016 to the date of full payment.

3. It is so decided as per Disposition by the assent of all participating Justices on the ground that the plaintiff's claim is reasonable.