1. The plaintiff (Counterclaim defendant)'s appeal is dismissed.

2. The total costs of the lawsuit after the filing of the lawsuit are assessed against the Plaintiff (Counterclaim Defendant).

A principal lawsuit and a counterclaim shall be deemed simultaneously.

1. Basic facts

A. On December 31, 1998, the Plaintiff (Counterclaim Defendant) merged the Korea Long-Term Credit Bank (hereinafter “Plaintiff”) with the Korea Federation (hereinafter “Plaintiff”) and the Korea Chemical Co., Ltd. (the changed trade name on January 1, 1994: U.S. nuclear oil supply and the changed trade name on May 22, 1997: Geumho Petroleum Chemical Co., Ltd.) were merged with the Fran Petroleum Chemical Co., Ltd. on January 1, 2001.

(hereinafter referred to as “gold petroleum chemical”). (b)

On October 28, 1991, the Defendant (Counterclaim Plaintiff, and the trade name before the change on August 24, 1994: B; hereinafter “Defendant”) borrowed KRW 2.42 billion from the Plaintiff. At the time, C, the Defendant’s representative director, as of October 28, 1991, entered into an additional mortgage agreement with the Plaintiff as to the “liability of the said loan owed by the Defendant to the Plaintiff” on the part of the Plaintiff. On January 9, 1992, C and the Plaintiff entered into a joint and several guarantee agreement with the Defendant on January 9, 192, as to the “liability owed by the Defendant to the Plaintiff” (hereinafter “each of the instant real estate”).

C. Meanwhile, from around 1984, gold oil chemistry entered into a contract with the Defendant for the clinical processing of materials supplied by the Defendant to the gold chemical (i.e., a kind of log Batch, coloring agents) (hereinafter “the instant contract”), and (ii) on December 10, 191, with respect to each of the instant real estate in order to secure the “liability owed by the Defendant to the gold Petroleum chemical” (hereinafter “the instant contract”), and (iii) on December 10, 1991, with respect to each of the instant real estate, a contract for additional mortgage was entered into between KRW 1 billion with the maximum debt amount and KRW 80 million with respect to each of the instant real estate.

The establishment registration of each of the instant real estates was completed on the following table;

① The establishment registration of a collateral security holder’s collateral security (hereinafter “mortgage”) is the “mortgage-mortgage-mortgage-mortgage-mortgage-mortgage-mortgage-mortgage-mortgage-mortgage-mortgage-mortgage-mortgage-mortgage-mortgage-mortgage-mortgage-mortgage-mortgage-mortgage.”