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

Done C in 2018 for the defendant corporation B.

1. Basic facts

A. On August 20, 2015, the Plaintiff: (a) concluded a transfer security agreement on the object in Pyeongtaek-si (type: H and volume; 1.7 million won; hereinafter “instant subject matter”); (b) concluded a transfer security agreement (hereinafter “instant transfer security agreement”) on the object in Pyeongtaek-si (type: H and volume; 1.7 million won; hereinafter “instant subject matter”) between D and D on August 20, 202 as the interest rate of KRW 90 million per annum; and (c) concluded a transfer security agreement on the object in Pyeongtaek-si (type: H and volume; hereinafter “instant subject matter”) between D and D on August 20, 202.

On May 13, 2019, the Plaintiff entered into a transfer security contract for the instant object again with B Co., Ltd., which is concluded after the date of the transfer security contract between the Defendant and B Co., Ltd., but considering that the specific contents of the contract are the same as the instant transfer security contract, it is determined that D succeeds the instant transfer security contract, which was entered into by establishing B, as it is, and thus, it is reasonable to deem that it takes precedence over the transfer security contract between the Defendant and B Co., Ltd.

B. On December 8, 2015, D established B Co., Ltd. (hereinafter “instant company”) for the purpose of V manufacturing business (hereinafter “instant company”).

C. On July 5, 2018, the Defendant lent KRW 200 million to the instant company. On the same day, each of the instant corporeal movables listed in the separate sheet (hereinafter “each of the instant corporeal movables”) between the instant company and the company in order to secure the said loan claims, concluded a security agreement on each of the instant corporeal movables (hereinafter “each of the instant corporeal movables”), and received delivery of each of the instant corporeal movables by means of an alteration of possession.

In addition, the above parties entrust the preparation of notarial deeds under a loan agreement for consumption of money transferred for security on the same day to a notary public, No. 317, No. 2018, a loan agreement for consumption of money transferred for security.