1. Revocation of a judgment of the first instance;

The plaintiff's claim is dismissed.

2. All costs of the lawsuit shall be borne by the Plaintiff.

1. Basic facts

A. On November 7, 2007, the Plaintiff agreed to apply the interest rate and delay damages rate to A Co., Ltd. (hereinafter “A”) under the Defendant’s joint and several sureties, and the loan maturity comes after the loan as set forth in the next table 1, the Plaintiff extended the loan extended by reducing the loan amount under the Defendant’s joint and several sureties 2, 3, and 4 in sequence below.

(2) The Defendant’s joint and several liability guarantee agreement refers to the instant loan guarantee agreement, and the said loan obligation (hereinafter “the instant loan obligation”): Unit: 5,000 won guarantee for the maximum amount of the debt guarantee for the due date of the loan extended on November 7, 2007, the kinds of guarantee for the due date of the loan extended from the due date of the loan extended from November 7, 2007, the kinds of guarantee for the maximum amount of the debt guarantee for the loan extended from the due date of the loan extended from November 7, 2008, A2-2, around November 6, 2008, no more than 4,000 on November 6, 2009, no more than 300 on November 4, 2009, Nov. 4, 2009, no more than 4,0000 on November 5, 2004.

B. At the time of receiving joint and several sureties from the Defendant, the Plaintiff received joint and several sureties (as to the Nos. 1 above, comprehensive collateral guarantee, maximum collateral guarantee amount of KRW 60,000,000, and Nos. 2, 3, and 4 of the same Table) from the Defendant’s representative director D.

C. As of March 27, 2012, A’s obligation to pay the principal and interest of loan as of March 27, 2012 is KRW 27,701,525 (i.e., principal amount of KRW 23,490,112 and interest KRW 4,211,413). The rate of delay damages determined by the Plaintiff is 17% per annum after December 30, 2011.

[Reasons for Recognition] Unsatisfy, Gap 1, 2, 6, 7, 9 (including branch numbers, if any), the purport of the whole pleadings

2. The Defendant, on November 5, 2010, jointly and severally guaranteed the Plaintiff’s obligation to pay the instant loan to the Plaintiff, barring any special circumstance, is obligated to pay the Plaintiff the principal and interest of the loan KRW 27,701,525 and the principal of the loan KRW 23,490,112 as of the above base date, barring any special circumstance.

3. Judgment on the defendant's defense

A. The defendant's defense, which does not specify the maximum amount of the guaranteed obligation, is to protect the guarantor.