1. The Defendant’s KRW 438,696,104 among the Plaintiff and KRW 141,386,791 among them, shall be from December 30, 1994, and KRW 147,263,011.

1. Facts of recognition;

(a) The Credit Guarantee Fund shall enter into a credit guarantee agreement between B and a new bank on November 7, 1988 (hereinafter referred to as “B”); a credit guarantee agreement between B and a new bank on November 6, 1996; a credit guarantee agreement between B and a credit guarantee agreement between B and a new bank on March 11, 1992; a credit guarantee agreement between B and a credit guarantee agreement between B and a new bank on March 11, 1993; a credit guarantee agreement between B and a credit guarantee agreement between B and a new bank on April 27, 1997; a credit guarantee agreement between B and a new credit guarantee agreement between B and a new bank on April 16, 1995; and a credit guarantee agreement between B and a new bank on March 19, 193; and a credit guarantee agreement between B and a new bank on March 10, 1993; and a credit guarantee agreement between B and a new bank on March 19, 1993; and

(hereinafter “Agreement on Joint and Several sureties”). (b)

On December 30, 1994, the Credit Guarantee Fund made a substitute payment of KRW 190,96,681, and KRW 147,263,01, and KRW 81,397,767 on January 24, 1995 to the loan obligations to the Gyeongnam Bank, in accordance with each credit guarantee agreement of this case.

C. The Credit Guarantee Fund brought a lawsuit against B, the Defendant, and C as the Changwon District Court 96da12514, and the above court on September 6, 1996 “the Defendant jointly and severally 425,441,501 won and one of them 190,96,681 won.”