1. The Defendant shall pay KRW 27,00,000,000 from Chang C&D Co., Ltd. and shall pay the full amount from April 13, 2013.

1. Facts of recognition;

A. The Defendant lent a total of KRW 100,000,000 (i.e., 50,000,000 on February 12, 2008; hereinafter “instant loan”) to Chang C&D Co., Ltd. (hereinafter “instant company”).

B. On April 14, 2011, the Plaintiff completed the registration of creation of a mortgage consisting of KRW 150,000,000 on each real estate indicated in the separate sheet owned by the Plaintiff to the Defendant, with respect to each real estate indicated in the separate sheet owned by the Plaintiff (hereinafter “the registration of creation of a mortgage of this case”).

C. From March 10, 2008 to June 17, 2010, the instant company repaid to the Defendant the sum of KRW 30,000,000 among the interest on the instant loan, and repaid the principal KRW 100,000 on November 15, 2012, which was after the establishment of the said right to collateral security.

On March 13, 2013, the Defendant filed a lawsuit against the instant company with the Busan District Court seeking the payment of accrued interest and accrued wages, etc., and the said court rendered a judgment with respect to the claim for accrued interest amounting to KRW 27,00,000,00 and damages for delay calculated at the rate of 20% per annum from April 13, 2013 to the date of full payment (the Busan District Court Decision 2013Da4800, May 30, 2014) with respect to the payment of accrued interest amounting to KRW 27,00,00,00 and damages for delay calculated at the rate of 20% per annum from April 13, 2013 to the date of full payment (Counterclaim). The instant company appealed but became final and conclusive as it was dismissed.

E. On December 5, 2013, the Defendant applied for the voluntary auction of real estate at the Busan District Court upon the registration of the establishment of the instant neighboring land.

[Reasons for Recognition] Unsatisfy, entry of Gap 1 through 6 (including satisfy number), the purport of the whole pleadings

2. The parties' assertion

A. The secured debt of the Plaintiff’s claim for the registration of the establishment of a collateral prior to the instant establishment is the Defendant’s claim for the repayment of the instant loan to the instant company, and the Plaintiff created a collateral as a surety’s position.

However, it is always possible to pay the unpaid amount among the above loans.