The plaintiff's claim is dismissed.

Litigation costs shall be borne by the plaintiff.

1. Basic facts

A. On June 5, 2009, the Plaintiff entered into a “basic agreement on business participation” with E (Execution Company) Co., Ltd. (hereinafter “Execution Company”) that was the executor of the instant urban development project (hereinafter “instant project”) and participated in the instant project as the contractor.

B. On June 30, 2009, the executor extended a total of KRW 29.5 billion from the F Bank, G Bank, H Bank, I Bank, J Bank, and K Bank (hereinafter collectively referred to as “the first lender”), and the Plaintiff jointly and severally guaranteed the obligation to pay the principal and interest of the loan (hereinafter referred to as “the first lender”), and the Plaintiff jointly and severally guaranteed the obligation to pay the said principal and interest of the loan. The amount of land 1,539 square meters (hereinafter referred to as “the instant land”) in Namyang-si, Nam-si owns L (1,539), M, N (10/100). The executor paid the purchase price of the instant land with the first loan, and completed the registration of ownership transfer on July 10, 2009 for L shares, and on the N shares, on July 20, 2009 (hereinafter collectively referred to as “the trust contract”).

The first trust contract is a real estate security trust contract that designates the truster as L, M, N, and trustee as the first lender, the debtor, and the debtor.

(The plaintiff includes only the second priority beneficiary with respect to N Shares). Article 3 of the terms and conditions of the first trust agreement ("the provisions of this case") stipulates as follows:

On October 11, 2010, the executor extended 20 billion won to the instant business fund by the O Limited Company (hereinafter “the second lender”).

(2) The Plaintiff jointly and severally guaranteed the principal and interest of the loan.

After October 15, 2010, the trustee changed ("the second trust contract") to P Co., Ltd. ("P") with respect to some of the instant land among the instant project sites, but the trustee did not change the instant land.

E. On December 21, 2010, the executor took out a loan of KRW 57 billion from Q Co., Ltd. (hereinafter “third lender”) for the purpose of repayment of existing loans, appropriation of expenses related to the instant business, etc. (hereinafter “third loan”) and from the date of loan execution.