1. The defendant's appeal is dismissed.

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

Purport of claim and appeal

1...

1. Basic facts

A. On August 17, 2012, the Plaintiff concluded a performance guarantee insurance contract with Codefendant B Co., Ltd. (former trade name: Co., Ltd.; hereinafter “B”) of the first instance trial to guarantee the Defendant’s payment of rental fee and penalty for breach of contract, setting the insurance coverage amount as KRW 4,081,00,000, from August 16, 2012 to August 15, 2015. At the time of the said performance guarantee insurance contract, the Plaintiff jointly and severally guaranteed the Defendant’s liability for indemnity to the Plaintiff under the said performance guarantee insurance contract.

B. Upon delay in paying rent B, the Plaintiff claimed insurance proceeds pursuant to the performance guarantee insurance contract. On April 30, 2014, the Plaintiff paid KRW 4,081,000 to the Kene.

C. At the time of the above performance guarantee insurance contract, B agreed to pay damages for delay in accordance with the interest rate determined by the Plaintiff from the day following the date of payment of insurance money to the day of full payment. The damages for delay from the day following the date of payment of insurance money under the interest rate determined by the Plaintiff (6% per annum for 30 days from the day following the date of payment of insurance money, 9% per annum from the next day, and 15% per annum thereafter) is KRW 865,390.

[Reasons for Recognition] Unsatisfy, each entry in Gap evidence 1 to 4 (including branch numbers), and the purport of the whole pleadings

2. Determination

A. According to the above facts finding as to the cause of claim, the Defendant is obligated to pay to the Plaintiff the amount of KRW 4,081,00 and the amount of KRW 4,946,390 paid by the Plaintiff as a result of the performance of the obligation for reimbursement under the above performance guarantee insurance contract and KRW 4,081,00,000, which is the total amount of KRW 4,946,390 on behalf of the Plaintiff, and the amount of KRW 4,081,00 from November 10, 2015, which is the day following the day of calculating damages for delay, to the day of full payment.

B. The defendant's judgment as to the defendant's assertion shall be as follows.