1. All appeals by the Defendants are dismissed.

2. The costs of appeal are assessed against the Defendants.

Purport of claim and appeal

1.

1. According to the statement in Gap evidence No. 2 of the judgment as to the cause of the claim, the defendants prepared and delivered to the plaintiff on September 30, 2005 a letter stating that the amount of KRW 11,00,000 shall be paid to the plaintiff for a two-year agreed period (hereinafter "each letter of this case").

According to the above facts, the defendants jointly and severally agreed to perform the obligation of KRW 11,00,000 owed by the defendant Eul to the plaintiff with the defendant Eul, or at least as the guarantee of the obligation of the above letter that the defendant Eul bears to the plaintiff, in light of the process of the preparation of the letter of this case as acknowledged in the following 2.2.

As the Plaintiff seeks, Defendant B is obligated to pay the Plaintiff the amount of KRW 11,00,000 and damages for delay calculated from May 31, 2017, following the delivery date of the original copy of the instant payment order, and Defendant C is obligated to pay the amount of damages for delay calculated at the rate of 15% per annum from July 19, 2017, following the delivery date of the copy of the instant complaint to the day of full payment.

2. Determination as to the defendants' defense

A. The gist of the Defendants’ defense is that the Plaintiff’s claim filed against the Defendants under each of the instant notes is a bill bond or the price for the goods, which is the underlying claim thereof, and thus, the three-year statute of limitations is applied pursuant to Articles 77 and 70 of the Bills of Exchange and Promissory Notes Act. When the request for the instant payment order was made, the statute of limitations has expired.

B. The facts of recognition are as follows: ① The Plaintiff’s amount of KRW 23,520,00 at par value on September 9, 2004; the date of payment on January 7, 2005; the Industrial Bank of Korea; the Industrial Bank of Korea; the payee D; the date of issuance on September 9, 2004; the face value of KRW 21,00,000 at face value on October 8, 2004; the date of payment on February 7, 2005; the branch office of Korea Exchange Bank in Korea; and the date of issuance on October 8, 2004.