1. The Defendant shall pay to the Plaintiff KRW 146,83,601 as well as KRW 53,927,310 as to the Plaintiff’s KRW 146,83,601. From December 14, 2015 to January 7, 2016.

1. Facts of recognition;

A. A. Around June 17, 1999, the Plaintiff entered into a credit guarantee agreement with the Defendant and the Defendant’s North Korean Agricultural Cooperative (hereinafter “the first credit guarantee agreement”) with a view to guaranteeing respective loans and obligations against the Defendant (hereinafter “the second credit guarantee agreement”). Around November 27, 1999, the Plaintiff entered into a credit guarantee agreement with the Defendant’s same content (hereinafter “the second credit guarantee agreement”).

B. On September 30, 2002, the Plaintiff paid a total of KRW 53,927,310 under each credit guarantee agreement with North Korean Agricultural Cooperative on September 30, 2002 (= KRW 25,219,003 of the second credit guarantee agreement of KRW 28,708,307, the first credit guarantee agreement).

C. As of December 13, 2015, the sum of the principal and interest of the indemnity payable to the Plaintiff by the Defendant as of December 13, 2015 is KRW 146,83,601 (i.e., the principal amount of indemnity KRW 53,927,310 (i.e., KRW 53,927,893,969) (i.e., KRW 12,042, KRW 121).

The rate of damages for delay applicable to claims for indemnity under the first and second credit guarantee agreements shall be 12% per annum as at the time of the closing of the argument in this case.

[Reasons for Recognition] Facts without dispute, entry of Gap evidence 1 to 7 (including each number), the purport of the whole pleadings

2. According to the facts established prior to the determination as to the cause of the claim, the Defendant is obligated to pay to the Plaintiff the agreed delay damages calculated at the rate of 12% per annum from December 14, 2015, which is the day following the base date for calculation, to January 7, 2016, and the delay damages calculated at the rate of 15% per annum from the next day to the day of complete payment, as to the principal and interest of 146,83,601 won for indemnity and the principal of 53,927,310 won for indemnity.

3. The defendant's defense is defense that the claim for reimbursement has expired by prescription after the lapse of ten years from the date on which the plaintiff discharged the claim on behalf of the defendant.

The Plaintiff’s repayment on September 30, 2002 on behalf of the Defendant’s obligation of loans is as seen earlier, and the instant lawsuit was filed on January 4, 2016 after the lapse of ten years from the instant lawsuit.