1. All appeals by the Defendants are dismissed.

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

The purport of the claim and appeal is the purport of the appeal.

1. Facts of recognition;

A. On July 24, 2013, the Plaintiff entered into a credit guarantee agreement with Defendant A Co., Ltd. (hereinafter “Defendant Company”) with the limit of 100,000,000 won, and with the guarantee term until July 23, 2014 (hereinafter “instant credit guarantee agreement”), and Defendant B jointly and severally guaranteed the Defendant Company’s obligation to the Plaintiff under the instant credit guarantee agreement.

B. The Defendant Company was loaned KRW 100,000,000 from the new bank as security the credit guarantee letter with the above content.

C. Article 10 of the Credit Guarantee Agreement provides for the scope of repayment in the event that the Plaintiff fulfilled the guaranteed obligation as follows.

Article 10 Scope of Repayment ① When the plaintiff has fulfilled the guaranteed obligation, the principal and the joint guarantor shall pay the following amounts immediately:

1. Performance amount of surety obligations;

2. The rate determined by the Plaintiff from the date of performance to the date of repayment for the amount under subparagraph 1 and the amount calculated according to the calculation method.

3. Expenses incurred in performing guaranteed obligations;

4. Expenses incurred in the preservation, transfer and exercise of any right acquired through discharge of guaranteed liabilities;

5. Unpaid guarantee fees, overdue guarantee fees, additional guarantee fees, and performance guarantee fees;

6. Damages for delay calculated by multiplying the amount paid under subparagraphs 3 and 4 by the rate determined by the Plaintiff from the date of payment to the date of repayment.

1. Insurance premiums paid on behalf of the plaintiff pursuant to Article 8 (3);

(3) The rate determined by the Plaintiff in paragraphs 1 and 2 means the rate determined by the Plaintiff in consideration of the overdue loans of financial companies to the extent prescribed by the legislation.

On May 25, 2014, the Defendant Company did not pay the principal of the loan to the new bank.