1. All appeals by the Defendants are dismissed.

2. The costs of appeal are assessed against the Defendants.

Purport of claim and appeal

1.

Facts of recognition

The plaintiff is a corporation established in order to enhance the fishery productivity of its members and to promote the expansion of markets for fishery products produced by its members and the smooth distribution of fishery products. The defendants are merchants who sell fish and dried fish in the trade name of "E".

On May 13, 2013, the Plaintiff entered into an intermediary wholesaler transaction agreement (hereinafter “instant transaction agreement”) that regulates all matters concerning the transaction of fishery products sold by the Plaintiff in the form of auction with Defendant A, and on the same day, completed the registration of the establishment of a neighboring mortgage with regard to the land owned by Defendant B, Bocheon-si, Seoul (hereinafter “instant land”) with the debtor amounting to KRW 48 million with respect to the land owned by Defendant A and the maximum debt amount.

At the time of conclusion of the instant transaction agreement, Defendant A signed and sealed the direct agreement with Defendant B (hereinafter “instant transaction agreement”).

If parts related to the contents of the instant transaction agreement are extracted, the following are made.

Article 3 (Security and Guarantee) (1) In the transaction with the Plaintiff, Defendant A shall, in principle, provide a security recognized by the Plaintiff (including a security deposit; hereinafter the same shall apply) and trade within the basic limit calculated by the security value determined by the Plaintiff.

Provided, That where it is inevitable to conduct extra-credit transactions in excess of the basic limit, it shall be in accordance with the criteria for granting credit limits determined by the plaintiff, and when the joint and several surety is admitted, the assets recognized by the plaintiff and the joint and several surety shall

④ When Defendant A provides the Plaintiff with a security owned by a third party, Defendant A shall send a security offerer to the Plaintiff as a joint and several surety.

Provided, That where the plaintiff recognizes it, he/she may be exempted from the admission of joint and several sureties.

(8) The joint and several sureties shall be liable for the repayment of their debts and the full amount of the penalty for delay and all expenses guaranteed by the defendant A within the limit of the guarantee amount stipulated separately from the plaintiff.

Article 4 (Payment of Price) (1)