1. The Plaintiff (Counterclaim Defendant) paid KRW 40,933,510 to the Defendant (Counterclaim Plaintiff) and its related amount from February 24, 2015 to July 21, 2016.

A principal lawsuit and a counterclaim shall be deemed simultaneously.

1. Facts of recognition;

A. On June 25, 2009, the Plaintiff concluded a construction contract (hereinafter “instant construction contract”) with respect to the construction of the Marine Resources Research Center in Ullido, Ullido as a joint contractor for the construction of the Jeju General Construction Project and the Large General Construction Project (hereinafter “Large General Construction”) with the Jeju General Construction Project Co., Ltd. (hereinafter “Large General Construction”) on the following terms:

Construction cost: Period for construction of KRW 7,626,686,00 (including value-added tax): Ratio from June 30, 2009 to June 20, 201: 51% of the General Construction in Large-Scale, and 49% of the General Construction in New-Scale.

B. On June 29, 2009, the Plaintiff paid KRW 2,615,620,000 as the advance payment of the instant construction, and set up a pledge on the account deposited in advance. On December 9, 2009, the prime comprehensive construction entered into a performance guarantee insurance contract with the Defendant as follows, and a modified contract on March 22, 2010 (hereinafter referred to as the “instant guarantee insurance contract”) with each of the following contents, and issued a guaranty insurance policy issued by the Defendant to the Plaintiff, the Plaintiff terminated the pledge.

Insurance policy holder: The insurance coverage amount of the Ulsan Guns General Construction Insured: the insurance coverage amount of 3,04,379,960 won (the period of contract of 3,040,98,640 won): the insurance period from June 26, 2009 to June 10, 201 (the period from June 26, 2009 to August 22, 201): From June 26, 2009 to August 9, 2011 (the period changed from June 26, 2009 to October 21, 201): the guarantee coverage clause of the advance payment guarantee clause under the construction contract only for the advance payment guarantee clause provided on June 26, 2009:

C. According to the guaranty insurance policy of the instant guarantee insurance contract, the Defendant is liable for the advance payment to be returned by the Plaintiff, the obligee, due to the obligor’s failure to perform the obligation stipulated in the instant construction contract, according to the terms and conditions as stated in the insurance policy and in accordance with the said contract.