1. Of the judgment of the first instance court, the part against the Defendants in the judgment is modified as follows.

The Defendants shall be jointly and severally.

1. Facts of recognition;

A. Defendant A Co., Ltd. (hereinafter “Defendant A”) is an implementer of a business that constructs and sells condominiums in Quaker Quakat City (hereinafter “instant business”), and ELa Construction Co., Ltd. (hereinafter “ELa Construction”) is a contractor of the instant business.

B. The Plaintiff and Defendant A entered into a corporate general financial transaction agreement with the Plaintiff, setting the loan amount of KRW 5,000,000,000 on April 7, 2010; the loan date of April 7, 2010; the loan date of July 7, 2010; the loan interest rate of KRW 11% per annum; and the compensation rate of delay 24% per annum; and Defendant A received a loan from the Plaintiff after endorsement to the Plaintiff on the commercial papers issued by ELD Construction in the course of promoting the instant project; and Defendant A received a discount of KRW 5,00,000,000 from the Plaintiff.

(hereinafter) Defendant A’s debt to the Plaintiff following the above loan refers to “the instant loan debt,” and Defendant A’s debt to the Plaintiff of ELA Construction on the said bill is jointly and severally guaranteed as to the instant loan debt.

C. On July 2010, the Plaintiff and Defendant A entered into an additional arrangement that extends the repayment period of the instant loan obligation to October 7, 2010.

On October 7, 2010, the Plaintiff and Defendant A entered into an agreement for factoringing transactions in which the Plaintiff continuously provides the Defendant A with the rate of interest, commission, repayment date, and other terms and conditions set forth in a separate agreement, with the limit of KRW 24% per annum, KRW 5,000,000,00 per annum, and the agreed term thereof one year, and ② the amount of sales claims purchased from the said Defendant are to be paid in advance.

E. On January 7, 2011, the Plaintiff and Defendant A concluded a corporate general financial transaction agreement with the same content as the corporate general financial transaction agreement on April 7, 2010, except as otherwise stipulated on January 7, 2011, and the maturity of the loan is April 7, 2011.

【Legal basis for recognition】