The judgment below is reversed, and the case is remanded to the Gwangju District Court.

The grounds of appeal are examined (to the extent of supplement in case of supplemental appellate briefs not timely filed).

1. Review of the reasoning of the lower judgment and the evidence duly admitted by the lower court reveals the following facts.

The plaintiff is a corporation established for the purpose of purchasing non-performing loans and managing the assets of purchased bonds.

On August 28, 2008, C et al. filed a lawsuit against Gwangju District Court Decision 2008Da70829, April 23, 2002, seeking the payment of the remaining loans of 389,767,620 won under the loan transaction agreement, and the interest and delay damages thereon, which was decided for claimant on November 20, 208. The above judgment became final and conclusive on December 16, 2008.

The Plaintiff acquired the principal and interest of the loan from the trustee in bankruptcy with Song-sung (Seoul).

B. The defendant is serving in Gangnam-gu Seoul as a company located in Gangnam-gu, Seoul while living in Seoul, and D is living in Gwangju.

C. On April 19, 2006, D completed the registration of creation of a mortgage (hereinafter “instant collateral security”) with respect to the Defendant of the amount of 582 square meters and 1,342 square meters and 1,342 square meters and 740 square meters and 740 square meters (hereinafter “instant real property”) owned by the Defendant prior to I in Gwangju Mine-gu, Gwangju.

D on November 1, 2007, the Defendant completed the registration procedure for ownership transfer on the ground of payment in kind as of November 1, 2007, No. 193691, Oct. 29, 2007, with respect to the instant real estate.

Accordingly, the right to collateral security established on the real estate of this case was extinguished due to confusion.

E. The letter of performance written by D on Nov. 1, 2007 is as follows: "D borrowed KRW 200 million from the Defendant on Apr. 19, 2006 and completed the right to collateral security on the real estate of this case to secure it. It is against KRW 63 million on Oct. 29, 2007.