1. Of the judgment of the court of first instance, the part against the defendant exceeding the amount ordered to be paid below shall be revoked.

1. Determination on the cause of the claim

A. The following facts do not conflict between the parties, or can be found in full view of the entries in Gap evidence 1 to 3 (including paper numbers) and the whole purport of the arguments.

(1) On December 16, 2003, the Plaintiff granted a loan (hereinafter “instant loan”) of KRW 400,000 to Codefendant A Co-Defendant A Co-Defendant A Co-Defendant A Co., Ltd. (hereinafter “Defendant Co-Defendant”) on the date of expiry of the extension period on June 15, 2004.

At the time, the overdue interest rate was agreed to apply the interest rate set by the plaintiff within the limit set by law.

On the same day, the Defendant guaranteed the instant loan obligations within the limit of KRW 520,000,000.

(2) As to the instant loan obligations, the Plaintiff set the overdue interest rate at 21% per annum until December 27, 201, within the scope of the statutory limitation, and at 18% per annum thereafter.

As of December 11, 2014, the Defendant Company’s failure to repay the instant loan obligations, the sum of the principal amount of the instant loan obligations of KRW 400,00,000, interest and delay damages is KRW 801,687,788, which is the base date for calculation of convenience.

B. According to the above facts of determination, the Defendant is jointly and severally liable with the Defendant company to pay the Plaintiff damages for delay calculated at the rate of 18% per annum from December 12, 2014 to the date of full payment of the principal amount of KRW 1,201,687,788 as of December 11, 2014 (i.e., the principal amount of KRW 400,000,000 as of December 11, 2014) and the interest amount of KRW 801,687,788 as of December 11, 2014 (i.e., the principal amount of KRW 400,000 as of December 12, 2014 to the date of full payment).

2. Judgment on the defendant's assertion

A. The judgment on the Defendant’s assertion (1) was rendered on January 11, 2005 by the Daegu District Court 2004Hu23, which rendered a decision of the commencement of composition against the Defendant, and the decision of the cancellation of composition was rendered on January 18, 2006. Therefore, the Defendant’s joint and several surety claim against the Defendant was 5 years after the date of the cancellation of the composition.