1. The Defendants are jointly and severally and severally liable to the Plaintiff for KRW 164,407,917 as well as KRW 142,645,565 as from September 1, 2017 to November 2017.

1.The following facts are without dispute between the Parties:

On May 22, 2015, Defendant A Co., Ltd. (hereinafter “C”) entered into a contract with Jung-gu Incheon Metropolitan City for D Construction Work (hereinafter “instant construction”).

B. On June 1, 2015, C entered into a payment guarantee insurance contract for advance payment (hereinafter “instant insurance contract”) with the Plaintiff during the instant construction project by setting the insured Jung-gu Incheon Metropolitan City, Jung-gu, 297,306,910 won, and the insurance period from May 26, 2015 to July 21, 2016. On the same day, E Co., Ltd (hereinafter “F”) and Defendant B, the representative director of C, jointly and severally guaranteed the Plaintiff’s obligation under the instant insurance contract.

In the event that C fails to perform an agreement with the insured and the Plaintiff pays the insurance proceeds to the insured, C shall immediately compensate the Plaintiff for the insurance proceeds, but if delay is made, C shall compensate the Plaintiff for the delayed payment in addition to the delayed payment compensation according to the rate publicly notified by the Plaintiff.

C. C was issued a surety insurance policy by the Plaintiff on June 3, 2015, and submitted to Jung-gu Incheon Metropolitan City and was paid KRW 27.5 million.

C while continuing the instant construction, on April 11, 2016, submitted a written waiver of construction works to Jung-gu Incheon Metropolitan City. Accordingly, on May 4, 2016, Jung-gu Incheon Metropolitan City requested the Plaintiff to pay insurance proceeds of KRW 205,326,467 of the outstanding amount of advance payment. On June 8, 2016, the Plaintiff paid insurance proceeds of KRW 183,213,655 to Jung-gu Incheon Metropolitan City, Jung-gu, Incheon Metropolitan City, and received reimbursement of KRW 40,468,090 from the Defendants.

E. The overdue interest rate publicly notified by the Plaintiff is 6% per annum from the day following the payment date of insurance money to 30 days, 9% per annum from the next day to 60 days, and 12% per annum from the next day to the next day.

2. According to the above facts of recognition, the Defendants jointly and severally paid insurance proceeds to the Plaintiff = KRW 142,645,565.