A. On March 3, 2014, Gyeongnam Enterprise Co., Ltd. (hereinafter “Seoul Enterprise”) concluded a subcontract with respect to “electric construction works 1,2,00,000 among the new construction works of the Housing Association in the Geaeaeaea District,” setting the contract period of KRW 4,467,00,000 as the total of KRW 1,493,000,000,000, among the new construction works of the Housing Association in the Geaea District, and the construction period from March 3, 2014 to June 21, 2015.

B. In concluding the said subcontract, on March 5, 2014, the gold transfer theory entered into a guarantee agreement with the Defendant on the terms that the said subcontract and the payment of the obligation owed to the Gannam company is made within the guarantee period (guarantee accident) by setting the guarantee period of the said subcontract as the deposit of the KRW 249,30,000, the deposit of the second section of the said electrical construction project, the deposit of the two sections of the said electrical construction project, the guarantee period of KRW 197,40,000, and the guarantee period from March 3, 2014 to June 21, 2015.

C. However, as the gold full-time survey was suspended on May 14, 2014 due to the suspension of current account transactions, it was no longer possible to carry out construction works under the said subcontract, it was notified by mail proving the contents of the subcontract to the gold full-time researcher on May 15, 2014, and eventually, the gold full-time survey caused a guarantee accident where the gold full-time survey failed to perform its contractual obligations such as the said subcontracted work.

On May 13, 2014, Gyeongnam-si and Geumhwa-si settled the amount of 120,000,000 won for the settlement of the said Section of Electric Construction and the amount of 115,00,000 won for the settlement of the said Section of Electric Construction and the amount of 235,000,000 won for the said Section of Electric Construction and the amount of 115,00,000 won for the settlement of the said Section of Electric Construction. In accordance with the demand for direct payment on May 14, 2014, Gyeongnam-si paid the amount of 85,00,000,000 won for the said settlement of accounts to workers, including the amount of 150,00,000 won for the already paid construction.

(e) Gyeongnam Company shall relate to the remaining non-construction parts of the said electrical construction 1,2 sections.