The plaintiff's appeal is dismissed.

Expenses for appeal shall be borne by the plaintiff.

Purport of claim and appeal

judgment of the first instance.

Basic Facts

A. On June 11, 1993, the Plaintiff completed the registration of creation of a collateral (hereinafter “registration of creation of a collateral”) with respect to each real estate indicated in the separate list owned by the Plaintiff, which included a copy of a promissory note (E, face value of KRW 45 million, issue date, June 11, 1993, and October 14, 1998; the date of payment; the date of payment; the date of payment; the date of payment; and the date of payment; the issuer A; and the date of payment; hereinafter “instant promissory note”). At that time, a notary public drafted a notarial deed containing the recognition of compulsory execution with respect to the said promissory note under the same General Law Firm No. 4394, 193.

B. On June 20, 2003, upon the application of E based on the above right to collateral security, the voluntary auction procedure for each real estate listed in the separate sheet Nos. 4 and 5 was commenced (E had filed an application for voluntary auction for all of the real estate listed in the separate sheet, but withdrawn a request for auction for some of the real estate on November 28, 2003). In the auction procedure, the above court distributed KRW 2,931,703 to E, a mortgagee, on February 26, 2004.

C. On March 13, 2012, E entered into a contract between the Plaintiff and the Plaintiff for the transfer of the instant mortgage and the transfer of the final claim.

Article 1 B and the Plaintiff: (a) concluded a mortgage agreement with the maximum debt amount of KRW 45,00,000 on June 9, 1993; (b) however, due to the circumstances of E, the agreement between E and the Defendant to inherit the said mortgage agreement to the Defendant, including the present claim based on the original contract.

Article 2 Article E shall implement the registration procedure for transfer in the name of the defendant with respect to the right to collateral security on the real estate (Yancheon District Court Yangyangyang Registry No. 3874, Jun. 11, 1993) entered below the establishment of the right to collateral security upon the original contract.

Article 3 E shall apply to the claims and the right to collateral security transferred pursuant to Article 1.