Defendant.

A. The Defendant Seoul Guarantee Insurance Co., Ltd. received authorization from the Financial Supervisory Service to handle the installment sale guarantee insurance, and handled only the installment sale guarantee insurance for automobiles with the selling company as the insured under the automobile installment sales contract as the principal contract. Since January 1, 1996, it was necessary for the government to develop new guarantee insurance products that guarantee the installment financing obligation of the automobile buyer as a result of allowing the establishment of a new installment financing company from January 1, 1996, it made the special terms and conditions of installment financing that grant the insurer the right to claim the insurance money from January 3, 1996 to the insurance money claim as well as the right to receive the insurance money, and used them by adding them to the existing installment sale guarantee insurance terms and conditions.

Article 1 of the General Terms and Conditions of Installment Sales Guarantee, which the Defendant Seoul Guarantee Insurance has already used, provides that “The damages suffered by the seller (hereinafter “insured”) due to the failure of the buyer to perform the obligation of installment payment as stipulated in the installment sales contract on the insurance policy (hereinafter “main contract”) and the seller shall compensate for the damages in accordance with the terms and conditions,” and the main text of Article 6(1) provides that “The insurance money to be paid by the company shall be the unpaid amount of installment payment at the due date as stipulated in the main contract.”

Article 1 of the General Terms and Conditions of Installment Financing of the Defendant Seoul Guarantee Insurance provides that “This Special Terms and Conditions shall apply to the case where the policyholder is financed by the bank, insurance company, or installment financing company (hereinafter “financial institution”) according to the installment sale contract indicated on the insurance policy,” and Article 2 of the General Terms and Conditions shall, notwithstanding the provisions of Article 1 of the General Terms and Conditions, apply to the damages covered by the buyer.