1. The plaintiff's claim of this case is dismissed.

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

1. Basic facts

A. On January 24, 2013, Dawon Shipping Co., Ltd. (hereinafter “Dawon Shipping”) entered into a sales contract with EPP Co., Ltd. for the purchase of MPR (1,587 tons; hereinafter “the instant vessel”).

B. On March 7, 2013, the Defendant issued a letter of credit guarantee (hereinafter “the letter of credit guarantee in this case”) stating, “I, on March 6, 2018, 1,445,00,000 won of the guaranteed principal, 1,445,00,000 won of the guaranteed principal, 1,70,000 of the guaranteed principal, 1,700,000 of the loan amount, 1,700,000 of the loan amount, 85% of the loan amount, 1,000 of the loan amount, 2,040,000 won or more when the ownership of the instant vessel is transferred to the instant vessel, 1,00,000 won or more of the loan amount (hereinafter “the letter of credit guarantee in this case”).”

C. On March 7, 2013, Dawon Shipping completed the registration of establishment of the instant vessel under its name. On March 29, 2013, Dawon Shipping completed the registration of establishment of the instant vessel with respect to the instant vessel at KRW 2,040,000 with respect to the instant vessel (hereinafter “registration of establishment of the instant vessel”). D.

On March 29, 2013, the Plaintiff carried out three loans (hereinafter “each of the instant loans”) on three occasions (hereinafter “each of the instant loans”) with respect to Dawon Shipping, and when referring to each of the instant loans, hereinafter “the instant loans”).

Serial Bank loan loan 1 3210-055-5260 332,000,000 6.88% credit on March 29, 2016 23210-05-5274-5274 918,000,000 corporate facility ordinary loan loan 13210-05.88% on March 29, 2016, other ships 3210-55-5289 500,000,000 tons or more of vessel 33210-5289-5289.00,000,000 corporate facility ordinary loan loan 5.43% on March 29, 2018 (Guarantee Rate 85%).

E. The Dawon Shipping defaulted on March 4, 2014, and on March 5, 2014, the Plaintiff notified the Defendant of the non-performing credit guarantee on the ground that the Dawon Shipping lost its benefit of time.