1. The Defendant’s KRW 303,094,610 as well as 11% per annum from October 23, 2014 to February 16, 2016 to the Plaintiff.

1. Basic facts

A. On September 25, 2013, the Plaintiff entered into an export credit guarantee agreement (hereinafter “the instant credit guarantee agreement”) with B Co., Ltd. (hereinafter “B”), setting the amount of KRW 300 million as “credit guarantee limit, an amount equivalent to the national bank of the lending institution, an amount of debt trade finance, guarantee period from September 26, 2013 to September 25, 2014, and an amount equivalent to 11% per annum of agreed delay damages.”

On September 25, 2013, the defendant, as the representative director B, guaranteed B's obligation to the plaintiff.

B. B, on September 26, 2013, obtained a loan of KRW 300 million from a national bank on the security of a credit guarantee certificate issued by the Plaintiff based on the instant credit guarantee agreement.

C. On August 28, 2014, B delayed payment of interest on the loan to a national bank, and the occurrence of a guarantee accident under the instant credit guarantee agreement was occurred. On August 29, 2014, the national bank notified the Plaintiff of the occurrence of a guarantee accident.

Accordingly, on October 22, 2014, the Plaintiff subrogated to the National Bank for KRW 303,094,610 = Interest of KRW 299,253,454 as principal of trade financing 3,841,158.

[Ground of recognition] Facts without dispute, entry of Gap evidence 1 through 5 (including each number, hereinafter the same shall apply) and the purport of the whole pleadings

2. Determination

A. According to the above facts, barring any special circumstance, the Defendant, a joint and several surety under the credit guarantee agreement of this case, is obligated to pay to the Plaintiff the amount of 303,094,610 won subrogated and the amount of delay damages calculated at the rate of 11% per annum, which is the rate of delay damages, from October 23, 2014 to February 16, 2016, which is the date of delivery of a copy of the complaint of this case, until February 16, 2016, and the amount of delay damages calculated at the rate of 15% per annum, which is stipulated in the Act on Special Cases concerning

(hereinafter referred to as “Plaintiff’s claim for reimbursement”). (b)

1) The defendant was declared bankrupt on November 24, 2014 and granted immunity on April 16, 2015 from the court.

At the time of the defendant.