1. The Defendant shall pay to the Plaintiff KRW 24,245,767 and the interest rate of KRW 20% per annum from August 30, 2013 to the day of complete payment.

1. Basic facts

A. On March 3, 2008, Nonparty A and the Industrial Bank of Korea entered into a mortgage contract with Nonparty A with the land for factory B at Kimnam-si, Kimnam-si, with the land of 1835 square meters and above ground factory buildings and factory machinery as collateral.

(hereinafter “instant collateral security”). B.

The Plaintiff issued a credit guarantee certificate to Nonparty A in the course of obtaining a loan from the Industrial Bank of Korea. However, when Nonparty A was unable to repay its loan obligations, the Plaintiff subrogated for KRW 55,240,334 to the Industrial Bank of Korea on March 14, 2012 in accordance with the said guarantee agreement.

C. Among the obligations subrogated by the Plaintiff, there was a debt set up as security CNC Wire CNC Bae-W800 F (hereinafter “this case’s machinery and apparatus”) among the collateral of the said right to collateral. D.

On February 27, 2012, the Industrial Bank of Korea applied for a voluntary auction on the basis of the foregoing right to collateral security and decided to commence a voluntary auction. The remaining claims of the Industrial Bank of Korea were transferred to the Defendant after the Plaintiff’s subrogation.

E. The Plaintiff and the Defendant agreed to divide dividends on the instant machines and instruments into 9:1 in the existing auction procedure for the procedural convenience instead of transferring the right to collateral security on the instant machines and instruments according to the Plaintiff’s subrogated repayment.

(f) On the other hand, Article 9 of the Guarantee Terms and Conditions (hereinafter “instant Guarantee Terms and Conditions”) prepared by the Plaintiff in the course of issuing a written credit guarantee (hereinafter “instant Guarantee Terms and Conditions”) stipulates as follows with respect to the appropriation of the amount to be recovered:

Article 9 (Recovery of Claim) The amount to be recovered that does not fall under paragraph (1) and the amount to be recovered after a credit guarantee accident occurs may be appropriated in the following order:

1. Claims other than guaranteed loans;

2. An excessive portion of guarantee side loan;

3. The amount of interest calculated by applying the overdue interest rate to the guaranteed loan;