1. The plaintiff's claim of this case is dismissed.

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

1. Basic facts

A. When entering into a loan agreement with B on October 8, 2010, the Industrial Bank of Korea concluded a loan agreement with B, and completed the registration of the establishment of a mortgage over KRW 500 million with respect to C factory site 2,217 square meters, each factory building on the above ground, D road 49 square meters, and machinery facilities (hereinafter the above land and each building are referred to as “each of the instant real estate”; the machinery facilities are referred to as “the instant machinery facilities”; and the entire construction of the instant security is referred to as “the instant security”).

B. On September 30, 2010, the Plaintiff entered into a loan guarantee agreement with the foregoing B, which stipulates as the guarantor B, the estimated amount of loans KRW 500 million, the guaranteed amount KRW 425,00,000, and the guaranteed rate of KRW 85%, in order to secure the obligation for loans to the Industrial Bank of Korea. As a guarantee agreement, the Plaintiff set the right to collateral security as to the instant collateral.

C. In the event that B defaults on the obligations of loans to the Industrial Bank of Korea, the Plaintiff subrogated for KRW 277,505,938 to the Industrial Bank of Korea on September 7, 2015 in accordance with the said loan guarantee agreement, etc., and on the same day, entered into a partial transfer contract of collateral security (hereinafter “instant contract”) with the Industrial Bank of Korea as follows.

Article 1 (Transfer of Collateral Mortgage) The debtor B and the Industrial Bank of Korea have completed the registration of creation of a mortgage over the instant collateral of KRW 500 million with the maximum debt amount of KRW 500 million. The plaintiff's partial subrogation agrees to transfer the said collateral along with the claim.

Article 2 (Order of Appropriation for Amount of Dividends and Recovery) The order of appropriation for the distribution of dividends (including the amount yet to be transferred) under the above-mortgage (including the amount yet to be transferred) shall be as follows:

1. Unclaimed bonds related to loans executed in excess of the initial amount of the guaranteed loan under the guarantee agreement dated September 30, 2010 among the remaining bonds of the transferor as of the dividend date (including expenses incurred in managing bonds, such as expenses incurred in recognizing non-auction of collateral under special agreement, expenses incurred in repairing, and rental fees).