1. The defendant's appeal is dismissed.

2. The costs of appeal shall be borne by the Defendant.

Purport of claim and appeal

1..

Facts of recognition

On January 23, 1997, B Co., Ltd. (hereinafter referred to as “Nonindicted Company”) entered into a credit transaction agreement with the content of lending KRW 10 billion from the Plaintiff (the Plaintiff: Choung Bank) to the end of January 23, 1998, and applying the basic terms and conditions of bank credit transactions with respect to the transaction. The Defendant set the guarantee limit of KRW 14 billion and jointly guaranteed all obligations related to the current and future credit transactions against the Plaintiff of the Nonparty Company.

The instant credit transaction agreement was extended several times through additional agreements. On July 1, 2013, the Plaintiff and Nonparty Company agreed to extend the transaction period to the end of June 30, 2014 and to change the credit limit to KRW 5.37 billion. On the same day, the Defendant agreed to change the transaction period and the credit limit as the guarantor.

On the other hand, the plaintiff, the defendant and the non-party company have agreed to extend the transaction period of the credit transaction agreement of this case on several occasions.

On July 24, 2013, creditors of the non-party company filed an application for commencing rehabilitation procedures with respect to the non-party company. On September 6, 2013, the court rendered a decision to commence rehabilitation procedures with respect to the non-party company (Seoul Rehabilitation Court 2013 Gohap142).

Under the rehabilitation procedure of the sub-committee, the Plaintiff became final and conclusive as having secured security rights of KRW 5,132,439,211 with respect to loans based on the instant credit transaction agreement, including interest prior to commencement, KRW 78,858,081, and interest prior to commencement, KRW 189,829,943.

On January 9, 2015, the rehabilitation plan of the sub-committee was authorized on January 9, 2015, and the part against the plaintiff shall be paid in cash in full for the principal of the rehabilitation security right and interest prior to commencement, but interest after commencement shall be paid in cash by applying 2.5% of the principal from the date the rehabilitation procedure is

The Plaintiff’s principal amounted to KRW 5,132,439,211 on January 20, 2015 according to the above rehabilitation plan, interest prior to commencement amounting to KRW 78,858,081, and interest prior to commencement amounting to KRW 176,471.