1. The Defendants shall jointly and severally pay to the Plaintiff KRW 23,00,000 and the interest rate thereon from December 3, 2015 to the date of full payment.

1. Facts of recognition;

A. On May 13, 1997, the Defendant Kimpo-po Agricultural Association (hereinafter “Defendant Association”) borrowed KRW 640 million from the new Central Mutual Savings and Finance Company on May 13, 1997 at the maturity date, the interest rate of May 13, 1999; 16.5% per annum; and 21% per annum of delayed damages.

(hereinafter “instant loan”). Defendant A jointly and severally guaranteed the Defendant’s association’s obligations.

B. The new Central Mutual Savings and Finance Company was declared bankrupt by the Seoul District Court on May 14, 2001, and the Korea Deposit Insurance Corporation was appointed as bankruptcy trustee on the same day.

The above bankruptcy trustee filed a lawsuit (Seoul Central District Court 2004Kadan197194) against the defendants such as the loans, etc. for which the above bankruptcy trustee seeks the payment of the loans, etc. of this case.

On May 13, 2005, the Defendants were sentenced to the Seoul Central District Court to “the Defendants jointly and severally pay to the Plaintiff 432,469,728 won and 21,864,521 won with 23% interest per annum from May 14, 2003 to the day of full payment.”

(hereinafter “instant judgment”). Defendant A was sentenced to the instant judgment on June 15, 2005, and became final and conclusive as it did not file an appeal.

Although the defendant union appealed (Seoul High Court 2005Na73367), the defendant union did not request the designation of the date after being absent on March 15, 2006 and March 29, 2006.

C. On September 23, 2008, the Korea Deposit Insurance Corporation of the new Central Mutual Savings and Finance Company transferred the instant loan claims to the Plaintiff (before the change on November 10, 2009), and notified the Defendants on October 28, 2008.

As of April 15, 2015, the balance of the instant loan is KRW 226,790,470 (i.e., interest at KRW 226,790,470).

[Reasons for Recognition] Each entry of Gap evidence Nos. 1 through 7, the purport of the whole pleadings

2. Determination

A. Determination on the cause of the claim