1. The defendants' appeal is dismissed.

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

Purport of claim and appeal

1...

1. The reasoning of the court’s explanation concerning this case is as stated in the reasoning of the judgment of the court of first instance, except for the following addition. Thus, it is acceptable to accept this as it is in accordance with the main sentence of Article 420 of the Civil Procedure Act.

[Supplementary part] No. 8 of the judgment of the court of first instance, No. 6 of the judgment of the court of first instance, the Defendants are subject to the Special Act on the Protection of Surety.

According to Article 7(1), if there is no agreement on the guarantee period, the period shall be deemed three years, and as such, Defendant C did not set the guarantee period, Defendant C’s respective guarantee obligations were all extinguished on November 1, 2013 after three years from the date of guarantee.

Article 7(1) of the Act on the Protection of Suretyship provides that "if there is no term of guarantee, such term of guarantee shall be deemed three years." However, in the case of a guarantee contract for the guarantee of the probationary guarantee that requires the guarantee period, it is only a provision that intends to prevent the extension of the guarantor's liability for repayment for three years if there is no term of guarantee, such as a guarantee contract for the guarantee of the probationary guarantee that requires the guarantee period, such term of guarantee shall be limited to three years

2. In conclusion, the defendants' appeal is dismissed as it is without merit. It is so decided as per Disposition.