1. The plaintiff's appeal is dismissed.

2. The costs of appeal shall be borne by the Plaintiff.

Purport of claim and appeal

The first instance court.

1. Basic facts

A. C Co., Ltd. (hereinafter “C”) is a corporation engaged in the business of timber processing business, etc., and Plaintiff’s East D is a representative director, Plaintiff’s wife E and Plaintiff’s son F are registered as a director.

B. On October 2007, the Defendant received from the Plaintiff one promissory note (bill number G; hereinafter “instant promissory note”) as of February 15, 2008 on or around October 15, 2008, from the Plaintiff, at the face value of C Issuance KRW 25 million, and on or around February 15, 2008, and subsequently received a discount from H around December 2007.

C. On February 15, 2008, I, the final holder of the Promissory Notes of this case, presented the Promissory Notes of this case to the New Bank Co., Ltd., but was in default due to the shortage of deposits.

On February 15, 2008, the new bank account (J) in the name of C transferred KRW 5 million from the other bank account in the name of C on February 15, 2008, and KRW 10 million from K and the Defendant’s spouse, respectively. The Plaintiff endorsed the amount of KRW 25 million from the face value of C issuance, the due date, February 18, 2008, and paid the amount of the Promissory Notes by transferring it to the I’s account.

[Reasons for Recognition] The facts without dispute, Gap's 2 through 7 (including the number of branch offices in the case of additional numbers), Eul's 1, Eul's testimony and the purport of the whole pleadings

2. The Plaintiff’s assertion: (a) the Defendant is obligated to endorsement on the Promissory Notes in this case to pay the Plaintiff, who is the final holder of the Promissory Notes in this case; and (b) the Plaintiff pays the Promissory Notes in this case to I as the Second Promissory Notes; (c) the Defendant is obligated to pay the Plaintiff the remainder of KRW 15 million, excluding the Defendant’s spouse L, out of the amount of the said subrogated payment 25 million won, and (d) the Plaintiff is the actual owner of the Promissory Notes.