The part against the Defendant is reversed, and that part of the case is remanded to the Seoul High Court.

1. Article 349(1) of the Civil Act provides that Article 451 of the Civil Act provides that the establishment of a pledge for a nominative claim shall not be set up against the third obligor or any third party unless the pledger notifies the third obligor of the establishment of a pledge in accordance with the provision of Article 450 or the third obligor gives his consent of the establishment of a pledge in accordance with the provision of Article 450.

In cases where the garnishee has deferred and consented to the establishment of a pledge on the claim, he/she may set up against the pledgee on the ground that the ground that occurred against the pledger until the third obligor has given his/her consent, and in cases where there exists any ground for setting-off at the time of the delayed consent, it has not yet set-off.

Even if there is a subsequent offset, the third obligor may oppose the pledgee by offsetting.

(see, e.g., Supreme Court Decisions 99Da18039, Aug. 20, 199; 2000Da13887, Mar. 29, 2002). In addition, the principle of trust and good faith under the Civil Act is an abstract norm that a party to a legal relationship should not exercise the right or perform the duty in a manner that violates the principle of trust and good faith, taking into account the other party’s interest, and the other party has provided such faith to the other party in order to deny the exercise of the right or refuse to fulfill his/her duty.

In light of the notion of justice that it should be in a legitimate state that it has such belief from an objective point of view, and that it is necessary for the other party to exercise rights or enforce the performance of obligations against such belief.