1. Revocation of a judgment of the first instance;

2. The plaintiff's claim is dismissed.

3. All costs of the lawsuit shall be borne by the Plaintiff.

1. Basic facts

A. The plaintiff is a corporation established by the Trade Insurance Act for the purpose of facilitating trade and overseas investment by operating a trade insurance system to cover risks arising in connection with foreign trade, such as trade, and A is an exporter who exports diggings overseas under the Decree.

B. On July 17, 2015, the Plaintiff and A’s first guarantee agreement (i.e., guarantee after shipment) concluded an export credit guarantee agreement with the Plaintiff on a repayment obligation that the loan-handling institution incurred due to the Plaintiff’s failure to pay the export price from the importer after borrowing the amount of the export price from the loan-handling institution (hereinafter “first guarantee agreement”).

The main contents related to the instant case in the First Guarantee Agreement are as follows.

Article 5 (Liability for Aggregate Export Insurance) The principal shall be insured against the insurance operated by the Corporation for export transactions related to the credit guarantee requested by the Corporation.

Article 9 (Right of Preliminary Reimbursement) (1) When a cause falling under any of the following subparagraphs occurs to the principal, the principal shall immediately notify the Corporation thereof and redeem the amount guaranteed by the Corporation before the performance of the guaranteed obligation, even if there is no notification, demand, etc. from the Corporation:

1. Where the export transaction is made with an importer falling under each subparagraph of Article 3;

2. When an insurer receives a disposition of discharge from liability or it is clear that he/she will receive such disposition even though he/she has covered an export insurance under Article

3. Where a request for seizure, provisional seizure, provisional disposition or auction is filed, or a request for the commencement of a rehabilitation procedure, bankruptcy procedure or individual rehabilitation procedure is filed, or is entered into the liquidation under the Debtor Rehabilitation and Bankruptcy Act;

4. The level of delinquency, subrogation, repayment by subrogation, payment by subrogation, and payment by subrogation (including above-related information), information disturbing financial order, and the grounds for the registration of public recorded information under the Credit Information Management Rules of the Association;