The judgment of the court below is reversed, and the case is remanded to the Seoul Central District Court Panel Division.

The grounds of appeal are examined (to the extent of supplement in case of supplemental appellate briefs not timely filed).

1. Article 530-9(1) of the former Commercial Act (amended by Act No. 13523, Dec. 1, 2015; hereinafter the same) provides that “A company established through division or merger through division or a company surviving division or merger through division shall be jointly and severally liable for the obligations of the company before division or merger through division.”

The term “company’s obligations before a division or a merger after division” refers to not only the obligations arising before the division or a merger after division takes effect but also the obligations arising out of the legal relationship, which is the basis of its establishment, even though it has not yet arrived at the time of the division or a merger after division (see Supreme Court Decision 2010Da71660, Dec. 23, 2010). The reasoning of the lower judgment and the evidence duly admitted by the lower court reveals that ① the Plaintiff’s credit guarantee agreement between B Co., Ltd. (hereinafter “B”) on February 23, 2006 and the guaranteed amount are 25,00,000, and the guaranteed amount is 200,000 won until February 23, 2007 (hereinafter “first credit guarantee agreement”), and the Plaintiff was finally extended to 205,000 won by 20,000 won and 205,000 won, and then, extended to 201,000 won and 25,07.