1. Revocation of a judgment of the first instance;

2. The plaintiff's claim is dismissed.

3. All costs of the lawsuit shall be borne by the Plaintiff.

1. Basic facts

A. The National Agricultural Cooperative Federation (hereinafter “CF”) on June 9, 200 lent KRW 1 billion to B Co., Ltd. (hereinafter “B”) at interest rate of KRW 9.75% per annum, interest rate of KRW 17% per annum, and due date of payment on June 9, 2001. The Defendant, who was the B representative director, jointly and severally guaranteed the above lending obligation.

B. On March 31, 2010, agricultural cooperatives transferred the above loans to the Plaintiff, and notified the transfer of the loans to B around that time.

C. The Nonghyup received dividends of KRW 259,063,470 on October 21, 2005 from the voluntary auction procedure (Seoul District Court) for real estate owned by B.

B As of May 12, 2013, the liabilities of KRW 1,782,89,292 including principal and interest, etc. remain as of May 12, 2013.

[Reasons for Recognition] Evidence Nos. 1 through 11, Evidence No. 13, the purport of the whole pleadings

2. The Plaintiff, as to the cause of the claim, filed a claim against the Defendant for the payment of KRW 50 million and delay damages, which are part of the above loan as set forth in B. According to the above facts established, the Defendant, as a joint and several surety, is obligated to pay the above loan to the Plaintiff, the transferee of the loan claim, unless there are special

3. Determination on the extinctive prescription

A. The defendant asserts that the period of extinctive prescription expired as to the above debt B.

It is clear that the five-year extinctive prescription period under the Commercial Act is applicable to the claims for loans to Nonghyup, and the lawsuit in this case was filed on May 13, 2013, after the five-year period from October 21, 2005, the agricultural cooperatives received dividends in the auction case, since it was related to the business.

Therefore, the defendant's defense of extinctive prescription is reasonable, since the debt to the agricultural cooperative was extinguished upon the completion of the prescription, and the defendant's debt to the agricultural cooperative is extinguished due to the nature of the guaranteed debt.

B. On February 2013, the Plaintiff requested that the Defendant reduce or exempt the debt amounting to seven million won, and on April 11, 2013, the Plaintiff repaid KRW 10,000 to the Plaintiff.