1. The plaintiff's claim is dismissed.

2. The costs of lawsuit shall be borne by the Plaintiff.

Basic Facts

A. On July 2, 2010, the Plaintiff, as a joint and several surety C, prepared a monetary loan agreement for consumption with the following contents as a joint and several surety, and a notary public received a notarial deed on the said contract from the law firm name (hereinafter “notarial deed of this case”).

On July 2, 2010, the creditor (the defendant) borrowed money from the debtor (C) and the debtor borrowed it.

Article 2 (Period and Method of Repayment) Full Repayment shall be made by January 2, 2011.

Article 3 (Interest) Interest shall be paid at the rate of 30% per annum.

Article 8 (Joint Guarantee) ① The surety (Plaintiff) has agreed to guarantee the debtor's obligation under this Agreement and to jointly and severally with the debtor to perform the obligation.

(2) The maximum amount of a surety's guarantee obligation is one million won.

(3) The term of guarantee obligations shall be one year.

B. On November 21, 2016, the Defendant applied for a compulsory auction ( Jeju District Court D) on the Plaintiff’s real estate based on the instant notarial deed to “7,00,000 won and the amount at the rate of 30% per annum from July 3, 2010 to the date of full payment” and applied for the change of the amount claimed as KRW 7,00,000 on April 17, 2017.

[Reasons for Recognition] The Plaintiff’s warranty liability period under the Plaintiff’s instant No. 1 through 4, the Plaintiff’s evidence No. 1 and No. 2, and the purport of the entire pleadings is as follows: (a) the period from July 2, 2010 to July 2, 2011, which is the date when the contract of guarantee was concluded; and (b) the said period has expired. Compulsory execution based on the instant No. notarial deed should be denied.

Furthermore, the defendant is under the Special Act on the Protection of Surety(hereinafter referred to as the "Surety Protection Act").

The obligor did not notify the Plaintiff of the obligor’s nonperformance under Article 5, and the enforcement based on the notarial deed of this case by the Defendant who violated this provision is null and void, and furthermore, is contrary to the good faith principle.

In addition, the defendant is 7,00,000 won for the maximum amount of the plaintiff's joint and several liability obligations.