1. The judgment of the court of first instance is modified as follows.

Seoul Eastern District Court 2008Ka751.

1. Basic facts

A. The Plaintiff was an employee of C Co., Ltd. (hereinafter “C”), E was the head of management division, and D was the representative director of C.

B. D was unable to obtain additional loans under C or its own name, and requested E and the Plaintiff to become the name of the lender.

E On May 2, 2005, the F Bank agreed to obtain a loan of KRW 300 million from the F Bank, and the Plaintiff agreed to obtain a loan of KRW 50 million from the F Bank in its own name on the same day.

(hereinafter the Plaintiff’s loan under the name of the Plaintiff (hereinafter “instant loan”). C.

On May 2, 2005, the Defendant set up a collateral on May 2, 2005, with respect to Pyeongtaek-si and three parcels and multi-family houses owned by the Defendant (hereinafter “instant real estate”) with the maximum debt amount of KRW 420 million,00,000,000, in order to secure the obligation for KRW 300,000,000,000.

In addition, in order to secure the loan obligation of KRW 50 million in the name of the Plaintiff, the Defendant concluded a collateral guarantee agreement with the F Bank on the same day and became a joint and several surety.

On November 30, 2006, on the instant real estate, the FF bank started the auction procedure on November 30, 2006, and on May 8, 2008, the registration of the establishment of the establishment of the nearest real estate was cancelled, and on June 5, 2008, the registration of the voluntary commencement of auction was cancelled.

E. On September 14, 2007, the Defendant repaid to the F Bank the principal of the instant loan amounting to KRW 50 million.

F. On August 5, 2008, the Defendant filed an application for payment order against the Plaintiff, asserting that “The Defendant subrogated for the Plaintiff’s obligation to pay the Plaintiff’s loans to the FF Bank, and the Plaintiff is liable to pay the Defendant the amount of subrogated payment of KRW 50 million and the delay damages therefor.”

The Seoul Eastern District Court held on August 13, 2008 that 50 million won and 5% per annum from September 14, 2007 to August 26, 2008 and 20% per annum from the next day to the day of full payment.