1. The Defendants are jointly and severally and severally liable to the Plaintiff for KRW 86,219,527 and KRW 84,843,651 among them, from October 15, 2016.

On July 31, 2015, the Plaintiff entered into a loan agreement with Defendant A Co., Ltd. (hereinafter “Defendant Company”) on the terms of lending KRW 100 million, setting the lending period of KRW 60 months, the lending rate of KRW 8.9% per annum, and setting the lending rate of KRW 100 million at 8.9% per annum. The rate of delay damages in the event of a cause of loss of benefit due to the credit transaction basic terms and conditions was set at 25% per annum.

At the time of the conclusion of the above loan contract, Defendant B guaranteed the above loan obligation against the Plaintiff of Defendant Company as the representative director of Defendant Company.

Defendant Company lost the benefit of October 14, 2016 due to its failure to perform its duty to repay the principal and interest under the above loan agreement, and on October 14, 2016, the loan principal under the above loan agreement remains in KRW 84,843,651, unpaid interest 1,327,781, and damages for delay.

[Reasons for recognition] According to the above facts and the purport of the entire pleadings, Defendant B, a principal debtor, and joint and several surety, are jointly and severally liable to pay to the Plaintiff damages for delay calculated at the rate of 25% per annum, which is the agreed interest rate of 86,219,527 won (i.e., KRW 84,843,651 won, KRW 1,327,781 won, KRW 48,095), and the principal principal of the loan, from October 15, 2016 to the date of full payment, barring any special circumstances.

The defendant B asserts that the above joint and several liability was extinguished by resignation of the representative director. The defendant B held office as the representative director of the defendant company, and the above joint and several liability was jointly and severally guaranteed by resignation of the representative director.

The Supreme Court Decision 201Da11488 delivered on December 28, 199 delivered on December 28, 199, where a director of the company established a guarantee contract for a company's obligation of which the amount of debt and the due date are specified, the director of the company can not terminate the guarantee contract unilaterally due to changes in the circumstances of continuous guarantee or comprehensive collateral guarantee.