In the event that an agreement exists and the credit guarantee statement of the Korea Credit Guarantee Fund, the principal of which is the guaranteed principal, has been submitted from the guarantor's joint and several liability obligations under the Credit Limit Transactions Agreement, excluding the obligations belonging to the scope of the guaranteed obligation of the financial institution or any equivalent institution.

In the event that there is an agreement that the guarantor's joint and several liability under the Credit Limit Transactions Agreement excludes the debt belonging to the scope of the guaranteed obligation of the financial institution or any other institution corresponding thereto, and the credit guarantee statement of the Credit Guarantee Fund with the principal of the guaranteed principal has been submitted, the joint and several liability guarantor under the said Credit Limit Transactions Agreement shall be exempted from the joint and several liability for the individual loan within the extent of

Articles 105 and 428 of the Civil Act

Industrial Bank of Korea (Law No. 540, Mar. 2

Jeonnam-dong Food and Wholesale Trade Cooperatives and 8 others (Attorney Lee Soo-soo, Counsel for the plaintiff-appellant)

August 26, 2003

1. Defendant 2: 310,479,319 won and 50,00 won per annum from September 17, 1998 to October 6, 1998; 22% per annum from the following day to January 19, 1999; 18% per annum from the 9th day to 10.5% per annum; 25% per annum from the 29th day to 19.8th day of June 6, 198 to 198; 9% per annum from the following day to 205,00,00 won per annum; 9% per annum from the 29th day to 19.6th day of June 6, 1998 to 10.6% per annum; 9% per annum from the following day to 10.9% per annum; 9% per annum from the 29th day to 19.8th day of August 19, 199.

2. The plaintiff's remaining defendants' claims are dismissed, respectively.

3. Of the costs of lawsuit, the part arising between the Plaintiff, Defendant Jeonnam-dong and the Defendants, as well as the part arising between the Plaintiff, Defendant Jeonnam-dong and the Plaintiff’s share of the costs of lawsuit, and the part arising between the Plaintiff and the remaining Defendants.

4. Paragraph 1 can be provisionally executed.

The same shall apply to the order.

1. Basic facts

[Ground of recognition] Article 150 of the Civil Procedure Act between the plaintiff, defendant Lee Ba-hee, and leaps, Article 150 of the Civil Procedure Act, and between the plaintiff and the other defendants, the evidence No. 1-1-8, No. 2-1-2, No. 3, and the whole purport of the pleading

A. On April 21, 1997, the Plaintiff concluded a credit limit of 310,00,000, and the transaction period on April 21, 1998 with Defendant Jeonnam-dong Food Wholesale Trade Cooperative (hereinafter referred to as the “Defendant Union”). The Plaintiff jointly and severally guaranteed the Defendant Union’s performance of its obligations within the limit of 372,00,000,000,000 won on the same day.

B. Under the instant credit limit trading agreement, the Plaintiff: ① 80,000,000 on October 20, 1997; ② 59,00,000,000 on December 4, 1997; ③ 54,000,000 on December 10, 1997; ④ 45,000,000 on January 31, 1998; ⑤ 70,000,000 on February 12, 1998; ② 30,000,000 on March 9, 198; and ② 40,000,000 on April 9, 1998; and ③ 19,000 on May 14, 1998 (the instant loan interest rate of 19,70,000 on April 19, 209; and each of the instant loans was repaid.

C. The Defendant Union lost the benefit of the loan of this case thereafter. The balance of principal and interest was as follows: ① the loan of this case was KRW 52,979,319 as of September 16, 1998 (= principal of KRW 50,00,000 + interest KRW 2,979,319 + interest KRW 2,9,319) ②, ②, ③, ④, ④, ⑤ each of the loans was a total of KRW 205,00,000 as of June 5, 1998; and ② the loan was a principal of KRW 30,000,000 as of June 8, 1998; and 7’s loan was a principal of KRW 22,50,000 as of July 5, 1998.

D. The Plaintiff’s interest rate on delayed damage is 25% per annum until August 30, 1998, 24% per annum from that following day to October 6, 1998, 22% per annum from that next day to January 19, 199, and 18% per annum from that next day to that of January 19, 199.

2. Determination

A. According to the above facts, the defendants are jointly and severally liable to pay to the plaintiff 310,479,319 won and the agreed interest and delay damages (Provided, That the defendants, other than the defendant association, are jointly and severally liable to pay to the plaintiff the amount of KRW 372,00,000,000, respectively).

B. Determination as to the assertion of the defendant's maximum consciousness, Kim Jong-chul, Lee Sung-won, Lee In-Nam, and Lee Jae-dae

(1) The Defendant’s maximum formula, Kim Jong-chul, Lee Sung-soo, Lee Jae-nam, Lee Jae-dae (hereinafter “Defendant’s maximum formula, etc.”) first, when Defendant Byung-ho was in office as the president of the Defendant Union, he applied for a joint purchase loan to the Plaintiff, and endorsed on a bill or check or received a loan by forging the name of the Defendant Union and the other Defendants. In light of all the circumstances, it is reasonable to deem that the Plaintiff knew, or could have known, that the Plaintiff knew, or could have known, that the maximum formula, etc. was not a joint and several surety for the instant loan due to genuine intent, and thus, he could not be held liable for the repayment of the instant loan to the Defendant largest, etc.

Therefore, the above argument is insufficient to acknowledge the above argument only with the descriptions of Nos. 1, 4, and 3-1 to 4 of the evidence Nos. 3-4, and there is no other evidence to acknowledge it. Thus, the above argument is without merit.

(2) In addition, Defendant maximum formula, etc. also agreed that when the credit limit transaction agreement of this case was made, the debt belonging to the guaranteed obligation guaranteed by the Korea Credit Guarantee Fund shall be exempted from the guarantee liability of the joint guarantor, and on the ground that the credit guarantee certificate issued by the Korea Credit Guarantee Fund was submitted to the Plaintiff at the time of the loan of this case, Defendant’

Therefore, according to the evidence No. 1-1 (Agreement on Credit Line Transactions) and evidence No. 2-1 through No. 7 of the evidence No. 1-2, the guarantor under the Credit Limit Trading Agreement shall be jointly and severally liable with the debtor for all obligations under this Agreement against the plaintiff: Provided, That this shall not apply to the obligations belonging to the scope of the guaranteed obligation of the financial institution or any institution corresponding thereto, and the Credit Guarantee Fund is also included in the above "financial institution or any institution corresponding thereto", and it can be recognized that the credit guarantee certificate of the amount equivalent to the guaranteed principal of the loan was submitted to the plaintiff at the time of the loan of this case. According to the above facts, the joint and several surety under the Credit Limit Trading Agreement of this case shall be deemed exempted from the joint and several liability for each individual loan within the extent of the guaranteed amount by the Credit Guarantee Fund at the time of the loan of this case. Thus, the defendant's maximum liability for joint and several surety for the loan of this case such as the defendant is exempted from the obligation of each credit guarantee document of this case.

In this regard, the plaintiff's meaning of "a debt belonging to the scope of the guaranteed obligation of a financial institution or an equivalent institution under the Credit Limit Trading Agreement shall not be claimed against the other guarantor when the Credit Guarantee Fund has paid the guaranteed obligation, but since the Credit Guarantee Fund did not pay the guaranteed obligation to the plaintiff, the defendant's maximum consciousness, etc. cannot be exempted from the guarantee obligation. However, since there is no reason to interpret the Credit Limit Trading Agreement as such, the plaintiff's above assertion is rejected.

3. Conclusion

Then, Defendant Union, No. 24% per annum from September 17, 1998 to October 6, 1998; 22% per annum from the following day to January 19, 1999; 18% per annum from the 205.0% per annum; 25% per annum from the following day to 9.0% per annum; 9% per annum from the following day to 10.9% per annum; 3.0% per annum from the 198.30% per annum; 9% per annum from the following day to August 30, 1998; 9% per annum from the following day to 10.9% per annum; and 9% per annum from the 20.9% per annum to the 19.9% per annum; and 9% per annum from the following day to 10.9% per annum; and 9% per annum from the 19.9% per annum.

Judges Green Min-seop