1. The defendant shall be jointly and severally and severally with Eaby-brap Co., Ltd. (name: 107 Eaby-Eup, Kua-si, Won-si).

1. Facts of recognition;

A. On March 26, 2010, the Plaintiff entered into a guarantee agreement and joint and several sureties agreement and a loan1) The Plaintiff (hereinafter “EAW”) with respect to EAW (hereinafter “EAW”).

B) As between the credit guarantee ceiling amount to KRW 350 million, the export credit guarantee agreement between March 26, 2010 to March 25, 2011 (hereinafter “instant credit guarantee agreement”).

(2) The Defendant jointly and severally guaranteed the Plaintiff’s obligation pursuant to the instant guarantee agreement. (3) Arap borrowed an export credit guarantee certificate issued pursuant to the instant guarantee agreement from the Han Bank Co., Ltd. on the date of the instant guarantee agreement to KRW 350 million as collateral for the export credit guarantee certificate issued pursuant to the said agreement.

(3) According to Article 8 of the Guarantee Agreement, upon the Plaintiff’s fulfillment of the guaranteed obligation, Ghana pays to the Plaintiff reasonable expenses incurred in performing the Plaintiff’s performance of the guaranteed obligation and the exercise of the right to compensate for the guaranteed obligation, and damages for delay calculated by multiplying the Plaintiff’s overdue interest rate as determined by the Plaintiff from the day following the due date determined by the Plaintiff until the due date determined by the Plaintiff. (B) The overdue interest rate determined by the Plaintiff is 11% per annum. On January 17, 2011, the claim for reimbursement by subrogation and the substitute payment by subrogation have lost the benefit of the instant loan due to delinquency in the principal of the trade financing. Accordingly, on February 15, 2011, the Plaintiff lost the benefit of the instant loan due to one bank’s delinquency in payment of the principal amount of the guaranteed obligation. Accordingly, on February 15, 2011, the Plaintiff made a confession of the principal amount of KRW 353,704,340 won (= Principal KRW 350 million, interest3704,3400).

2. According to the above facts of determination and conclusion, the defendant, a joint and several surety, is jointly and severally with the plaintiff 355,037,730 won = 353,704,340 won by subrogation.