The appeal is dismissed.

The costs of appeal are assessed against the Plaintiff.

The grounds of appeal are examined.

Notwithstanding Article 250(2) of the Debtor Rehabilitation and Bankruptcy Act (hereinafter “the Debtor Rehabilitation Act”), Article 37-3 of the Korea Technology Credit Guarantee Fund Act (hereinafter “the instant provision”) provides for exceptions to Article 250(2) of the Debtor Rehabilitation and Bankruptcy Act, where a creditor is the Korea Technology Credit Guarantee Fund, joint and several liability obligations shall be mitigated or exempted at the same rate if the principal obligation is mitigated or exempted at the time of obtaining the approval for rehabilitation plan for a small and medium enterprise. The rehabilitation plan provides that the same shall not affect the scope of the guarantor’

This is to promote the reorganization of the small and medium enterprises, which are not financial difficulties, with the effective rehabilitation of the small and medium enterprises which are not financial difficulties, if the main liabilities of the Korea Technology Finance Corporation are reduced or exempted in accordance with the rehabilitation plan.

In full view of the contents, legislative intent, etc. of the provisions of this case, it is reasonable to deem that the extension of the maturity period for the principal obligation in the rehabilitation plan constitutes “reduction or exemption of principal obligation” as prescribed in the

In the same purport, the lower court is justifiable in having determined that the Defendants, a joint guarantor, made installment payments of KRW 51,802,790 on December 30 of the corresponding year from the fifth year (2019) to the tenth year (202, 202), as long as the lower court decided to make installment payments of KRW 488,40,030 (principal KRW 478,829,660 and interest KRW 9,573,370 prior to commencement), excluding the amount converted into investments, at KRW 310,816,743 (principal KRW 304,724,30 and interest KRW 6,092,435) excluding the amount converted into investments in the rehabilitation plan for E, a primary debtor, at KRW 310,816,743, as well as the principal obligation prior to commencement, extended each year from December 30 of the corresponding year to 2019.