1. The Defendants are jointly and severally and severally liable to the Plaintiff for KRW 45,775,223 and KRW 45,506,847 from November 29, 2017 to September 2018.

1. Basic facts

A. On March 24, 2016, the Plaintiff entered into a credit guarantee agreement with Defendant A Co., Ltd. (hereinafter “Defendant Company”) and Jeju Bank with respect to the obligation of loans owed by the Defendant Company, with respect to the guaranteed principal, up to KRW 45,00,00, and the guarantee period up to March 23, 2017. When the Plaintiff fulfilled the guaranteed obligation, the Plaintiff entered into a credit guarantee agreement with the intent to compensate for the amount of the guaranteed obligation and the amount of the guaranteed obligation (from February 1, 2016, the rate of damages as above is 10% per annum) as well as the amount of damages determined by the Plaintiff as to the amount of the guaranteed obligation and the amount of the guaranteed obligation (hereinafter “the credit guarantee agreement in this case”).

B. At the time of the conclusion of the instant credit guarantee agreement, Defendant B prepared a transparent management performance agreement (hereinafter “instant agreement”) with the following content and delivered it to the Plaintiff.

A contract for transparent management performance: Defendant B’s guaranteed enterprise: The parties to the contract under Article 2 (Management Obligations) of the Defendant Company will faithfully perform the following management obligations in lieu of the joint and several liability under the credit guarantee agreement under Article 1:

6. Consent of the plaintiff when disposing of at least 1/2 of the shares in possession as at the time of withdrawal or conclusion of an agreement to perform transparent management.

7. Where he/she violates Article 3 (Violation of Duty of Management and Responsibility for Joint and Several sureties) (1) prohibition against any serious act violating transparency management (i) If he/she violates the management obligation provided for in Article 2, the contractor shall be held liable for a guarantee jointly with the guaranteed enterprise for the obligations provided for in the credit guarantee agreement under Article 1 from

C. On March 30, 2016, Defendant B registered as the inside director and the representative director of Defendant Company, and on March 30, 2016, registration of retirement was completed.

On August 26, 2016, Defendant B resigned from office as an internal director, and on the same day, C, which was an auditor of Defendant B, was appointed as an internal director.

Defendant B shall be in the column for joint and several sureties of the Credit Guarantee Agreement of this case on October 10, 2016.