1. The Defendants are jointly and severally and severally liable to the Plaintiff for KRW 176,718,786 and KRW 176,512,565 from May 22, 2014 to November 2014.

1. Basic facts

A. On May 8, 2009, the Plaintiff entered into a credit guarantee agreement with Defendant A Co., Ltd. (hereinafter “A”) to the effect that “the credit guarantee period is from May 8, 2009 to May 7, 2010; the principal of the credit guarantee is KRW 195 million; and the Defendant A shall pay the Plaintiff the amount of subrogated payment by adding 12% per annum to delay damages, attempted penalty, and finalized damages.”

B. Defendant B guaranteed Defendant A’s joint and several debt to the Plaintiff on the same day, and thereafter the Plaintiff and Defendant A extended the credit guarantee period to May 2, 2014.

C. Defendant A received a credit guarantee letter from the Plaintiff and received KRW 300 million from the bank of Korea. As Defendant A lost the interest on the said loan due to delayed payment of the interest, the Plaintiff subrogated for KRW 176,515,65 on May 22, 2014 to Defendant A’s debt to the said bank.

As of May 22, 2014, the amount of debt owed by Defendant A to the Plaintiff is 165,512,565 won for indemnity, 206,220 won for attempted penalty, and 1 won for final and conclusive damages.

[Reasons for Recognition] Article 150 (Voluntary Confession) of the Civil Procedure Act

2. According to the determination as to the cause of the claim, the Defendants are jointly and severally liable to pay to the Plaintiff 176,718,786 won (=176,512,565 won 206,220 won) and damages for delay calculated at the rate of 12% per annum from May 22, 2014, which is the date of subrogation, to November 6, 2014, which is the date of final delivery of the copy of the instant complaint, pursuant to the agreement, for damages for delay calculated at the rate of 12% per annum and 20% per annum from the next day to the date of full payment.

3. The plaintiff's respective claims against the defendants are justified.