1. The defendant's appeal is dismissed.

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

3.Paragraph 1 of the text of the judgment of the court of first instance.

1. Basic facts

A. On February 4, 2008, B (former Guarantee Agreement) entered into a credit guarantee agreement (hereinafter “existing Guarantee Agreement”) with the Defendant by stipulating as “the estimated amount of loan: 10 million won”, “the rate of guarantee: 85%”, “the period of guarantee: November 19, 2008”, and “the method of guarantee: the method of providing a loan: loan;” and “the subject of loan” as “loan for corporate purchase” as “the guarantee agreement” and “the details of the loan” as “the guarantee agreement are modified pursuant to the existing Guarantee Agreement” and “the balance of the guarantee agreement will be handled by the Defendant under the existing Guarantee Agreement (hereinafter “existing Guarantee Agreement”) on the same day (hereinafter “the existing Guarantee Agreement”) with the Plaintiff on the same day (hereinafter “the date of February 4, 2008”) as “the maximum amount:10 million won; the date of expiration of the loan period: Nov. 19, 2008; and the details of the loan agreement under Article 2 of the Guarantee Agreement were modified.

B. 1) B entered into a new guarantee agreement with the Plaintiff on November 18, 2010, following the date of the extension of the term of guarantee and the term of repayment of the existing loan (hereinafter “new guarantee agreement”). B entered into a credit guarantee agreement with the Defendant with the Defendant with “10 million won”, “85% of the amount of loan”, “85% of the amount of guarantee,” “the term of guarantee: 17, 201”, “the method of guarantee: the method of guarantee: the method of guarantee: the lending; and “the subject of loan: B-B purchase funds” (hereinafter “new guarantee agreement”). B. Pursuant to the new guarantee agreement, B entered into a credit guarantee agreement with the Defendant (hereinafter “new guarantee agreement”) on the basis of the letter of credit guarantee (number D; hereinafter “the letter of new guarantee”).