1. The defendants' appeal is dismissed.

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

3. The text of the judgment of the first instance.

1. Facts of recognition;

A. On October 10, 2003, the New Bank Co., Ltd. (hereinafter “New Bank”) entered into a loan transaction agreement with C on October 10, 2006, setting a loan agreement at 285,000,000 won for general loan of the subject of loan, interest rate fluctuation rate, and 21% per annum on October 10, 2006 (hereinafter “instant loan”). On the same day, Defendant A and Defendant B, the spouse of C, entered into the instant loan transaction agreement with C, up to KRW 307,50,000 for all obligations of the present and future due to the instant loan, and limited collateral guarantee agreement to guarantee the settlement term for the settlement of the settlement of accounts for the near future (hereinafter “instant loan agreement”).

B. In the instant contract for guarantee, the term of settlement shall not be determined for the future designation type during the term for the settlement of accounts. In this case, the guarantor may designate the term for the settlement of accounts for the settlement of accounts by written notification at the expiration of three years from the date of the guarantee agreement, but the term for the settlement of accounts shall be 14 days after the date of arrival of the notice, and if it falls short thereof, the term for the settlement of accounts shall be 14 days from the date of arrival of the notice.”

C. C extended the maturity of the instant loan on a yearly basis, and on December 12, 2009, agreed with the new bank to extend the maturity of the loan to October 10, 2010.

On October 5, 2010, a new bank entered into an asset transfer agreement with the New Savings Bank (hereinafter “New Savings Bank”) and around that time, notified a principal debtor C of the transfer of all rights, such as principal and interest bonds based on the instant loan and rights to guarantors incidental thereto, to the new Savings Bank.

E. The New Savings Bank was declared bankrupt on October 29, 2013 by Seoul Central District Court 2013Hahap131.

F. C’s principal and interest of the instant loan is as of November 30, 2015.