1. The defendant's appeal is dismissed.

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

Purport of claim and appeal

1..

Facts of recognition

On June 16, 1995, Co-Defendant B entered into a small loan guarantee insurance contract with Seoul Guarantee Insurance Co., Ltd. (the Seoul Guarantee Insurance Co., Ltd., Ltd., the whole of which was changed; hereinafter referred to as the "Seoul Guarantee Insurance Co., Ltd."), with the insurance coverage amount of KRW 22 million, the insured Newdong Fire and Marine Insurance Co., Ltd. (hereinafter referred to as the "Newdong Fire"), and with the insurance coverage period from June 16, 1995 to August 14, 200, and received loans from Newdong Fire.

Under the above guarantee insurance contract, the defendant jointly and severally guaranteed the liability for indemnity that B bears to Seoul Guarantee Insurance.

B In the event that the above loan obligation was not performed, Seoul Guarantee Insurance paid 16,815,630 won on March 24, 200 to the Newdong Fire.

The Seoul Guarantee Insurance Co., Ltd. filed a lawsuit against the Defendant on November 8, 2004 as Seoul Central District Court 2004Ga2015872, and in the lawsuit above, “The Defendant and B shall jointly and severally pay 17,009,124 won in Seoul Guarantee Insurance and 16,815,630 won in interest of 19% per annum from April 24, 2000 to January 14, 2005, and 20% per annum from the next day to the day of complete payment” with respect to the Defendant to the effect that “The Defendant and B shall pay 19% interest per annum from the next day to December 9, 2004, and from February 5, 2005.”

On June 28, 2013, Seoul Guarantee Insurance transferred the claim for reimbursement to the Plaintiff and notified the Defendant of the assignment of the claim on June 23, 2014.

As of September 23, 2014, B and the Defendant’s liability for indemnity under the foregoing guarantee insurance contract amount to KRW 60,408,641 in total, including the principal amount of KRW 16,815,630, overdue interest of KRW 43,593,01.

[Grounds for recognition] In light of the facts without dispute, Gap evidence Nos. 1 through 7 (including additional numbers), and the purport of the whole pleadings, the above facts of recognition are as follows: the defendant shall jointly and severally with Eul to the plaintiff 60,408,641 won and 16,815,630 won among them, and delay damages calculated at the rate of 17% per annum for the plaintiff within the scope of delay interest rate of guarantee insurance contract from September 24, 2014 to the date of full payment.