1. The Defendants are jointly and severally liable to the Plaintiff for KRW 200,986,301 and KRW 200,000 among them, from March 23, 2020 to August 20, 2020.

1. Facts of recognition;

A. A. Around February 2019, the Plaintiff entered into a performance guarantee agreement with Defendant C Co., Ltd. (hereinafter “Defendant Co., Ltd”). Defendant D, the representative director of the Defendant Co., Ltd, at the time, jointly and severally guaranteed the Defendant Co., Ltd.’s obligation to the Plaintiff under the said agreement.

B. Around January 17, 2020, an insured incident (the Defendant Company’s failure to perform its obligation under the main contract) occurred, and the Plaintiff received a claim from the above insured person at that time, and paid the insurance amount of KRW 200 million on February 21, 2020.

(c)

The amount to be repaid by the defendant company to the plaintiff according to the above guarantee insurance agreement is as set forth in paragraph (1) of this Article.

[Reasons for Recognition] Defendant Company: (a) the fact that there is no dispute, each entry in Gap evidence Nos. 1 through 6, the purport of the whole pleadings, and the purport of the whole pleadings, deemed confession (Article 150 of the Civil Procedure Act);

2. Determination

A. According to the above facts of recognition, barring any special circumstance, the Defendants are jointly and severally liable to pay the Plaintiff the money set forth in paragraph (1) of this Article.

B. Defendant D asserts to the effect that, prior to the occurrence of the Defendant Company’s liability for indemnity following the Plaintiff’s payment of the above insurance money, he already transferred the Defendant Company to F, etc., a representative director, and resigned from the office of representative director, the said joint and several liability obligation was extinguished.

However, the above circumstances asserted by Defendant D cannot be deemed as naturally extinguished the obligation of Defendant D’s joint and several liability (in addition, Defendant D agreed to the above purport with the above F, etc.).

Even if this cannot be set up against the Plaintiff, the obligee, and the director of the company, if the director of the company, entered into a guarantee contract for the fixed debt of the company, unlike the case of continuous guarantee or comprehensive collateral guarantee, the director, who is the guarantor, can unilaterally terminate the guarantee contract for reasons of change in the position of director.