1. The plaintiff's appeal is dismissed.

2. The plaintiff's conjunctive claim shall be dismissed by this court.

1. The reasons for the acceptance of the judgment of the court of first instance are as follows: (a) the first payment order of 12, 9, 7 and 16 of the judgment of the court of first instance is entirely dismissed as “the second payment order”; and (b) the reasons for the first instance judgment are as follows, except for the addition of the judgment on the conjunctive claim added by the plaintiff in this court, and thus, (c) it is acceptable in accordance with the main sentence of Article 420 of the Civil Procedure

2. Additional determination

A. A. The summary of the Plaintiff’s assertion 1) The Defendant did not have any claim against K, and therefore, the dividend against the Defendant ought to be distributed to K, which is the debtor, inasmuch as the Defendant is not in the position of receiving dividends in the distribution procedure of this case. The Plaintiff raised an objection to the entire amount of dividends against the Defendant by subrogationing K as the obligee based on the first payment order. The Plaintiff sought correction of the distribution schedule, such as the ancillary claim, in order to exercise the Defendant’s right of subrogation. (2) In order to exercise the Defendant’s right of subrogation, the obligee’s claim against the obligor should exist. As the Plaintiff did not have any claim against K, the Plaintiff’s right of subrogation is unlawful.

B. Whether the plaintiff's subrogation right is legitimate in a creditor subrogation lawsuit 1) If the creditor's right to the debtor is not acknowledged in a creditor subrogation lawsuit, the creditor's own becoming the plaintiff and has no standing to exercise the creditor's right to the third debtor's right to the third debtor. Thus, the subrogation lawsuit is not dismissed in an unlawful manner (see, e.g., Supreme Court Decision 2005Da27188, Sept. 29, 2005; Supreme Court Decision 2005Da27188, Sept. 29, 2005; Supreme Court Decision 2005Da27188, Sept. 29, 2005).