The judgment of the first instance court, including the reduction of claims by this court, shall be modified as follows:

The Defendants are the first instance court.

1. Facts of recognition;

A. On July 27, 2015, the Plaintiff entered into a loan agreement of KRW 290,000,000 (hereinafter “the instant primary loan agreement”) with Defendant B, and a loan agreement of KRW 368,00,000 on December 21, 2015 (hereinafter “the instant secondary loan agreement”).

On July 31, 2015, Defendant B was divided into G (447 square meters) and N (26 square meters) on June 5, 2017 into G (447 square meters) and G (26 square meters) in order to secure the Plaintiff’s obligation for loans under the instant first loan agreement.

B. On June 5, 2017, H large 734 square meters, H large 734 square meters was divided into H (703 square meters),O (12 square meters), P (6 square meters), and Q (13 square meters).

On December 28, 2015, the maximum debt amount of KRW 377,00,000, and the establishment registration of each collateral of KRW 478,400,000 for each of the above lands (hereinafter “establishment registration of each collateral of this case”) was completed on December 28, 2015 in order to secure the obligation of loans under the second loan contract of this case.

On July 31, 2015 and December 28, 2015, the Plaintiff paid all loans under each of the above loan agreements to Defendant B.

B. Defendant C and Defendant D Co-Defendant D Co-Defendant D Co-Defendant D Co., Ltd. (hereinafter “D”) concluded a collateral guarantee agreement with the Plaintiff on July 27, 2015, with the content that the repayment of loans under the instant first loan agreement is limited to KRW 377,00,000, and on December 21, 2015, with the limit of KRW 478,400,000, respectively.

C. On November 22, 2016, Co-Defendant E of the first instance trial (hereinafter “E”) entered into a renewal guarantee contract with the Plaintiff, Defendant C and D on June 1, 2017.

As of April 25, 2018, the principal and interest of the instant loan contract was KRW 337,184,043 in total (i.e., KRW 290,000,000 with interest of KRW 47,184,043). The principal and interest of the instant loan contract were KRW 438,110,575 in total (i.e., principal and interest of KRW 368,000 with interest of KRW 70,110,575).