1. The defendant's appeal is dismissed.

2. The costs of appeal shall be borne by the Defendant.

Purport of claim and appeal

1...

1. Facts of recognition;

A. On September 16, 2010, the Industrial Bank of Korea concluded a credit transaction agreement with C Co., Ltd. (the trade name was changed from H Co., Ltd. to C Co., Ltd. on September 7, 2010) with a credit amount of KRW 145 million, September 16, 201, the expiration date of the credit, which is 16.47% of the overdue interest rate (hereinafter “the loans” under the above credit transaction agreement), and the Defendant, B, and E, the representative director of C Co., Ltd, at the time of the conclusion of the above credit transaction agreement, jointly and severally guaranteed each of the loans of this case on September 16, 2010 within the limit of KRW 174 million.

B. C Co., Ltd. lost the benefit of time due to the failure to repay the debt of the instant loan in accordance with the said credit transaction agreement. The Industrial Bank of Korea, as a collateral security right holder C, filed an application for voluntary auction against the second floor No. 204 of Gwangju Mine-gu, Seoul, and the second floor No. 204 (hereinafter “instant real estate”), which is owned by C, and received a decision on voluntary auction on May 20, 201.

(D) The Gwangju District Court D.C.

On the other hand, on September 28, 201, the Industrial Bank of Korea transferred the claim for the instant loan to the Plaintiff, and on September 29, 2011, notified C Co., Ltd. of the assignment of the said claim by way of content-certified mail.

The Plaintiff received dividends of KRW 132,867,705, totaling KRW 132,867,705, April 30, 2012, when the distribution schedule was prepared in the course of the voluntary auction on the instant real estate (i.e., dividend of KRW 129,835,015, KRW 3,032,690, and KRW 29,059,958, and appropriated the instant loans to KRW 99,634,67,705, and the remainder of KRW 99,634,157, (i) KRW 132,867,70, and KRW 157, and KRW 4,173,590, interest of the instant loans - KRW 29,059,958) for the principal of the instant loans claims.

E. The Plaintiff received a refund of KRW 784,997, May 2, 2012, with respect to the instant real estate at a voluntary auction procedure, from the Plaintiff’s claim for the instant loan.