1. Of the judgment of the first instance, the part against the defendant, including a claim for exchange change in this court, is as follows.

1. Facts of recognition;

A. On June 4, 2015, the Gyeonggi Credit Guarantee Foundation concluded a credit guarantee agreement with A (hereinafter “A”) on June 3, 201 with the guaranteed principal amount of KRW 85,00,000,000, and the term of guarantee on June 3, 2016 (hereinafter “instant credit guarantee agreement”); at the time, B, the representative director of A, guaranteed the liability for indemnity against A’s Gyeonggi Credit Guarantee Foundation under the said credit guarantee agreement.

A was granted a credit guarantee loan of KRW 100,000,000 from the Industrial Bank of Korea as security.

B. According to the above credit guarantee agreement, if the Gyeonggi Credit Guarantee Foundation performs the guaranteed obligation, A shall have the Gyeonggi Credit Guarantee Foundation pay the amount of the guaranteed obligation and its interest rate calculated by the Gyeonggi Credit Guarantee Foundation from the date of repayment of the guaranteed obligation to the date of repayment of the guaranteed obligation, and the expenses incurred in the preservation and exercise of the rights (legal procedure expenses).

C. A caused a credit guarantee accident that has lost the benefit of time on November 25, 2015 because it was unable to repay its loan obligations. On December 30, 2015, the Gyeonggi Credit Guarantee Foundation repaid the Bank of Korea a total of KRW 85,537,945 of the principal and interest of loan, by subrogationing A, on December 30, 2015, and collected KRW 363,290 on the same day and collected KRW 363,290 until that day.

On the other hand, B, on July 3, 2015, concluded a mortgage agreement with the Defendant regarding the real estate listed in the separate sheet (hereinafter “instant real estate”) with the maximum debt amount of KRW 200,000,000, and the debtor B and the mortgagee as the defendant (hereinafter “mortgage agreement”). On July 7, 2015, Suwon District Court, Sung-nam Branch of Gwangju District Court (No. 55717, supra) concluded a mortgage registration agreement with the Defendant regarding the real estate listed in the separate sheet (hereinafter “instant real estate”).

E. The Gyeonggi Credit Guarantee Foundation established the instant mortgage contract against the Defendant on the ground that the instant mortgage contract constitutes a fraudulent act prejudicial to the general creditor B.