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

Purport of claim and appeal

1...

A. On April 2014, the Defendant entered into an insurance contract with the Republic of Korea (the competent department: the Ministry of Government Administration and Home Affairs) and entered into a guarantee insurance contract for the Defendant’s payment of refund of government subsidies, etc. to the Republic of Korea according to the “Korea-Mandong Training Association for the Promotion of National Security” agreement with the Republic of Korea (the Ministry of Government Administration and Home Affairs) (hereinafter “instant insurance contract”). On April 2014, the Defendant entered into a guarantee insurance contract with the Plaintiff (the “instant insurance contract”).

Securities number policyholders insured amount of insurance coverage of 100-00-201401754325 Defendant Ministry of the Interior 31 million won or more from April 10, 2014 to March 31, 2015

In the event of an insurance accident, the Defendant failed to fulfill the obligation to return the balance of execution and the amount of unfair refund after the training contract, and the Republic of Korea, the insured, claims for insurance payment against the Plaintiff under the instant insurance contract. On November 13, 2015, the Plaintiff paid KRW 29,60,000 as insurance money to the Republic of Korea.

C. The interest rate applicable to delay damages under the instant insurance contract, including interest rate applicable to delay damages under the insurance contract, is 6% per annum from the date of payment of insurance proceeds until 30 days, 9% per annum from the following day to the date of payment of insurance proceeds, 12% per annum from the next day to the date of full payment, and 12% per annum from the next day to the date of full payment of insurance proceeds. Accordingly, on February 11, 2016, the Plaintiff’s claim for indemnity against the Defendant on the payment of the above insurance proceeds is 30,183,889 won per annum.

[Reasons for Recognition] Each entry of Gap evidence Nos. 1 through 4, the purport of the whole pleadings

2. According to the facts of recognition as to the Plaintiff’s claim, barring any special circumstance, the Defendant calculated an annual rate of 12% per annum from February 12, 2016 to October 17, 2017, which is the day following the above basic date, as to the Plaintiff’s claim amounting to KRW 30,183,889 as well as the principal amounting to KRW 29,60,00 among them, and the amount of KRW 15% per annum as prescribed by the Act on Special Cases concerning the Promotion, etc. of Legal Proceedings from the next day to the day of full payment.