1. Of the judgment of the court of first instance, the part against the plaintiff corresponding to the subsequent order of payment shall be revoked.

1. Determination on the cause of the claim

A. Under the facts found, each of the following facts is the cause of the Plaintiff’s claim, and deemed as a confession made by the Defendants pursuant to Article 150(3) and (1) of the Civil Procedure Act (see, e.g., Supreme Court Decisions 2011Da104079, Oct. 31, 2013; 2016Da227526, Jun. 29, 2017). (1) The Plaintiff is a legal entity established under the Credit Guarantee Fund Act for the purpose of ensuring the debt of an enterprise which lacks security capacity and facilitating its financing. The Defendant B is the Defendant A Co., Ltd. (hereinafter “Defendant A”).

Defendant C Co., Ltd. (hereinafter “Defendant C”) is the representative director, and Defendant D is the representative director.

(2) On April 15, 201, the Plaintiff entered into a credit guarantee agreement with Defendant A and Defendant A (hereinafter referred to as “the instant credit guarantee agreement”) with respect to the obligation to repay KRW 800 million of the guaranteed principal (90 million of the guaranteed principal) with respect to the “corporate purchase fund” to be loaned by the so-called B2B method (the submission of a written request for the collection of proceeds from sale prepared and transmitted by a seller in an electronic form by computer, etc.) from the Blackdong Branch of Korea Co., Ltd. (hereinafter referred to as “Korea Bank”). On the same day, the Plaintiff issued a credit guarantee agreement with the aforementioned contents in the future of the Korea Bank Blackdong Branch.

After that, among the terms of the credit guarantee agreement in this case, the term of guarantee was changed to April 12, 2013.

3) Defendant A submitted the said credit guarantee form and entered into an agreement on the loan transaction of corporate purchase funds with Korea bank with a limit of KRW 800 million. 4) Defendant B in collusion with Defendant D, and received steel products equivalent to KRW 79,819,185 (including value-added tax) from Defendant C on November 1, 2012.