1. The defendant's appeal is dismissed.

2. The costs of appeal shall be borne by the Defendant.

3. The decision of the court of first instance is in accordance with paragraph 1.

1. Facts of recognition;

A. The Dongyang Construction Industry Co., Ltd. (hereinafter “Dongyang Construction Industry”) constructed and sold a C apartment on the remaining and 46 lots of land, Namyang-si Co., Ltd. (hereinafter “Dongyang Construction Industry”), and on December 31, 2008, the Defendant concluded a sales contract to purchase the apartment at KRW 575,500,000 among the Dongyang Construction and the above apartment at KRW 118-dong 204 (hereinafter “instant apartment”).

B. On November 26, 2009, the Yangyang Construction Industry entered into a business agreement with the Plaintiff on the part of the buyers of the above C apartment, and the Plaintiff directly paid loans to the dong Construction Industry on behalf of the buyer with the delegation from the buyer, and where the lease is established prior to the establishment of the first right to collateral security, the buyer fails to cooperate with the establishment of mortgage, or it is impossible to repay the said amount due to the security loan of real estate due to the shortage of the cost of collateral security (hereinafter “the instant guarantee agreement”).

C. On November 26, 2009, the Defendant entered into a loan agreement with the Plaintiff on March 31, 201 (hereinafter “instant loan agreement”) with a view to paying an intermediate payment under the said sales contract, 172,650,000 won of loans, the due date of payment changed on March 31, 2011 (e.g., June 30, 201), 3.5% per annum of the rate of interest rate of 91-day deposit certificates (e.g., CD), and 17% per annum if the overdue period is less than three months, and 19% per annum if the overdue period is more than three months (hereinafter “instant loan agreement”). D.

According to the Defendant’s delegation of payment, the Plaintiff paid the above loans in three installments, and transferred the total of KRW 172,650,000 directly to the accounts of the East Construction Industry, with KRW 57,50,000,000, respectively, on November 26, 2009, and February 26, 2010, and July 20, 2010. The amount of each of the above transfers was appropriated for the sales proceeds of the apartment of this case that the Defendant sold in lots.

E. The Defendant delayed the repayment of the instant loan obligations, and the Gyeyang Construction Industry.