1. The Plaintiff’s obligation against the Defendants based on the judgment in Busan District Court 2009Kadan147307 loan claim case.

1. Basic facts

A. D lent KRW 67 million to E around 2009, and the Plaintiff and Nonparty F Co., Ltd. (hereinafter “Nonindicted Company”) jointly and severally guaranteed the obligation to return the above loan to D.

B. D filed a lawsuit against the Plaintiff, E, and the non-party company, and “the Defendant jointly and severally pays 67 million won to the Plaintiff with 18% per annum from July 15, 2009 to November 25, 2009, and 20% per annum from the next day to the day of full payment” (the Busan District Court Decision 2009Da147307 delivered on June 15, 2010). The above judgment became final and conclusive at that time.

C. On January 16, 2014, D filed an objection to a claim seeking a judgment on April 29, 2015, stating that the authentic copy of the instant loan judgment was the executive title, and filed an application for a seizure and collection order against the Plaintiff (Seoul District Court 2014TTTT1342). The Plaintiff filed a lawsuit seeking a judgment against D on April 29, 2015, stating that “the Plaintiff shall not be allowed to accept the portion exceeding 14,687,651 won out of compulsory execution based on the instant judgment.”

On January 29, 2016, the pleadings were concluded on the foregoing case. On February 19, 2016, the Plaintiff rendered a partial winning judgment that “No compulsory execution based on the instant judgment against D against D shall be permitted only to the part exceeding the amount calculated at the rate of 5% per annum from April 17, 2012 to the date of full payment” (Seoul District Court Decision 2015Da31458). D’s appeal against the said judgment was dismissed on September 9, 2016 (Dasan District Court Decision 2016Na3697) and the “judgment of the instant objection” became final and conclusive at that time.

The main part of the reasoning for the judgment on the objection of this case is as follows.

After the decision on the instant loan was rendered on July 12, 2010, A shall reduce the sum of the principal and delay damages ordered to be paid in the above loan judgment at KRW 50 million, and such reduction shall be made from October 7, 2010 to six months.