1. Of the judgment of the court of first instance, the part against the defendant exceeding the amount ordered to be paid below shall be revoked.

On October 1, 2002, A entered into a substitute loan agreement (hereinafter “the substitute loan agreement in this case”) with EL branch card Co., Ltd. (hereinafter “Korea Credit Card Co., Ltd.”), with 18,100,000 won, interest rate of 19% per annum, interest rate of 24% per annum, interest rate of 48% per annum, repayment period of 48 months (payment of principal and interest on equal installments) and payment at least twice per month, etc. on the ground of the loss of benefit. The Defendant jointly and severally guaranteed the debt of the loan in this case.

A, after October 1, 2002, lost the benefit of time due to the failure to pay the principal and interest at least twice. On September 30, 2003, ELD Card Co., Ltd. transferred the remaining principal and interest of 17,586,752 won and its interest claim to the Plaintiff according to the exchange loan agreement of this case on September 30, 2003. The assignment of claims was notified at that time.

The principal and interest of loans as of August 31, 2003 are 19,438,840 won in total, 17,586,752 won in principal and interest, 1,852,08 won in total.

[Reasons for Recognition] Facts without dispute, Gap evidence Nos. 1 through 3, and the purport of the whole pleadings is determined. According to the above facts, the defendant, as a joint guarantor, is obligated to pay the plaintiff a delay compensation for the loan principal of KRW 19,438,840 as of August 31, 2003, and the principal of the loan principal of KRW 17,586,752.

The defendant's defense asserts that the above loan claim has expired as the period of the five-year extinctive prescription expires.

In this case, the period of five years is applied to the claim of the above large loan, but since October 1, 2002, which is the date of the exchange loan agreement of this case, the plaintiff filed the lawsuit of this case on August 13, 2007, before five years have passed since the time when A lost the benefit of time. Thus, the defendant's assertion of the extinctive prescription is without merit.

Therefore, the defendant's principal and interest of 19,438,840 won as of August 31, 2003 and the principal of the loan shall be 17,586,752 won to the plaintiff.