1. Defendant A’s KRW 21,94,884 as well as 6% per annum from July 26, 2014 to November 22, 2014.

Basic Facts

On October 12, 2012, the Plaintiff, a guarantee insurance company, entered into a franchise business guarantee agreement with A, between the Korea Development Bank Co., Ltd. (hereinafter “Korea Development Bank”) and the insured Korea Development Bank (hereinafter “Korea Development Bank”) and October 27, 2017 from October 28, 2012 to October 27, 2017, with the insurance coverage amount of 64 million won. A agreed to repay the above debt within the limit of the insurance coverage amount in the event that the Plaintiff is unable to repay the debt under the franchise agreement with the Korea Development Bank, and issued a guarantee insurance contract.

Around June 2014, the Korea Development Bank filed a claim with the Plaintiff for insurance proceeds under the said surety insurance contract, asserting that “the franchise agreement with the Defendant A was terminated on September 6, 2013, Defendant A shall have a claim for damages amounting to KRW 21,94,84, as agreed on September 6, 2013.” The Plaintiff paid KRW 21,94,884 to the Korea Development Bank on July 25, 2014.

Defendant A, the sole property of Defendant B on February 24, 2014, is “1201,00 apartment units listed in the separate sheet, which is the only property of Defendant B.”

On June 10, 2014, Defendant A sold a mortgage and completed the registration of transfer of ownership on June 10, 2014. Meanwhile, Defendant A entered into a mortgage agreement with Hansung Life Insurance Co., Ltd. as to KRW 1201,00,000,000,000,000,000 for total debt amount of KRW 122,960,000,000,000 for total debt amount of KRW 11,200,000,000,000,000,000,000,000,000 won for total debt amount of the above collateral security, after completing the registration of transfer of ownership with respect to subparagraph 1201, Defendant A completed the registration of transfer of ownership, and the cancellation of the said registration of establishment of mortgage. [The purport of the argument and the fact inquiry as to each of the aforementioned parties as to the whole and each of the aforementioned facts described in the Ministry of Land, Infrastructure and Transport as follows.

According to the above facts of recognition as to the claim against the defendant A, the plaintiff is liable for damages against the Korea Development Bank of Korea in accordance with the guarantee insurance contract.