1. The defendant's appeal is dismissed.

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

Purport of claim and appeal

[Claim]

1. According to the following facts acknowledged by Gap's evidence Nos. 1 through 13 (including additional numbers), the defendant is jointly and severally liable with Eul to pay to the plaintiff 4,46,745 won and 18,773,201 won, calculated at the rate of 39% per annum from November 3, 2014 to the date of full payment. The defendant is jointly and severally liable to pay to the plaintiff 39,000,000 won per annum.

On October 21, 2009, Homato2 Savings Bank Co., Ltd. concluded a credit transaction agreement with a maturity of 30,000,000 to B on November 15, 2012, which provides loans with a maturity of 30,000,000 to 39% (hereinafter “instant agreement”). On the same day, the Defendant provided a collateral guarantee (hereinafter “instant collateral guarantee”) within the limit of KRW 39,00,000 to the Plaintiff’s debt incurred during the said period.

B. As of November 2, 2014, the total amount of B’s principal and interest pursuant to the instant agreement is KRW 44,46,745, including KRW 18,773,201, interest 25,014,688, and late payment charge 678,856.

C. On April 30, 2013, Homato2 Savings Bank was declared bankrupt on April 30, 2013 by Seoul Central District Court 2013Hahap55, and the Plaintiff was appointed as bankruptcy trustee.

2. Determination as to the defendant's assertion

A. The defendant asserts that the contract of this case is not effective, since at the time of the contract of this case, the defendant stated only the personal information of this case in order to verify B's credit in obtaining a loan from the plaintiff, and later explicitly stated that the plaintiff's employees did not express that the preparation of the above loan document was a joint and several surety, the contract of this case is invalid.

However, there is no evidence to acknowledge the above facts, and even if the defendant's assertion is all true, such circumstance alone does not make this case's probation guarantee null and void. Thus, this part of the defendant's assertion is without merit.

B. The instant case.