1. The plaintiff's appeal is dismissed.

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

The purport of the claim and the purport of the appeal.

1. The reasons for the acceptance of the judgment of the court of first instance are as follows, except for the addition of the following “2. additional determination” to the allegations made by the plaintiff in this court, and thus, they are cited in accordance with the main sentence of Article 420 of the Civil Procedure Act.

2. Additional determination

A. The Plaintiff’s assertion 1) E was the Plaintiff’s actual operator and the joint guarantor of the instant fair deed, and repaid KRW 18 million to D on September 29, 2017.

(ii) does not so.

Even if the Plaintiff received a bill issued by K from D, and paid KRW 18 million in return for the loan of the bill of exchange. On October 24, 2017, prior to the maturity date of the said bill, D is obligated to return the above KRW 18 million as unjust gains. The Plaintiff’s claim for the refund of unjust gains in the above KRW 18 million is offset against the claim on the instant fair deed by the automatic bond.

B. On November 19, 2015, D assumed office as an internal director of K Co., Ltd. (hereinafter “K”) on November 19, 2015.

2) On September 25, 2017, K issued an electronic bill with face value of KRW 191,00,000 at face value, and the maturity date of the electronic bill (hereinafter “electronic bill of this case”) as of December 22, 2017 and delivered it to the Plaintiff.

3) On September 29, 2017, the Plaintiff paid KRW 18,000,000 to D.

4) On September 25, 2017, the Plaintiff, who divided the instant electronic bill, made the endorsement amount of KRW 44 million to L Co., Ltd., and KRW 66,803,660 on September 27, 2017, with the endorsement amount of KRW 66,803,660 on September 27, 2017, paid the instant electronic bill to N Co., Ltd., Ltd., and KRW 40,000 on September 29, 2017, with the endorsement amount of KRW 40,196,340 on September 29, 201, used the instant electronic bill by means of endorsement to O.

5) On October 24, 2017, before the maturity date of the instant electronic bill, K was subject to suspension of current account transaction around October 24, 2017, and the instant electronic bill was rejected on December 22, 2017, when the maturity date of the instant electronic bill.

[Grounds for recognition] Evidence Nos. 6 through 11, and oral arguments.