The plaintiff's claim against the defendants is dismissed in entirety.

Litigation costs shall be borne by the plaintiff.

1. Basic facts

A. 1) The Plaintiff (the Korea Technology Finance Corporation) was established to contribute to the development of the national economy by ensuring the liabilities of enterprises which lack security capacity to facilitate corporate financing by guaranteeing the liabilities of enterprises which lack security capacity.

2) Defendant Small and Medium Venture Business Promotion Foundation (former trade name: Small and Medium Business Corporation; hereinafter “Defendant Corporation”) was established to contribute to the development of the national economy by efficiently promoting projects for promoting small and medium enterprises.

B. The Plaintiff’s law related to the acquisition of claims against C (1) D Co., Ltd. (hereinafter “D”) decided to issue bonds to raise funds necessary for the projects around December 2014.

As a result, D entered into a contract on the acquisition, etc. of private equity bonds (hereinafter “instant contract for the acquisition of bonds”) with respect to the issuance of bonds on December 26, 2014, between the Korea Development Bank, E-Limited Company (hereinafter “Specialized Asset-Backed Company”), the Plaintiff, and C, as follows (hereinafter “instant contract for the acquisition of bonds”).

The issuing company of the instant bond underwriting contract: D underwriting company: A special purpose company: The pledgee of the company specialized in the securitization: The Plaintiff depository financial institution: The guarantor of the Korea Development Bank Co., Ltd.: Article 2 (Purpose of Acceptance of Bonds) of the Korea Development Bank: the issuing company intends to raise funds necessary for its business through the issuance of bonds, and the acquiring company shall acquire and transfer this bonds to the special purpose company for the purpose of using them in the securitization of corporate bonds under the Asset-Backed Securitization Act (hereinafter referred to as “CBO transaction”).

3. (Acceptance of Bonds) A company issuing the bonds shall entrust the acquiring company with the acceptance of the total amount of the bonds to the acquiring company, and the acquiring company shall accept it.

Article 4 (Terms and Conditions of Issuance of Bonds)

1. Trade name of issuing company: D;

2. Name of bonds: F bonds (three-year maturity);

3. Total face value of bonds: