1. The Defendant’s KRW 2,372,572 and KRW 1,369,061 among the Plaintiff and KRW 6% per annum from April 24, 2019 to May 23, 2019.

1. Basic facts

A. On January 13, 2017, the Plaintiff entered into a personal financial credit insurance contract (hereinafter “instant insurance contract”) with the Defendant, which stipulates the insured amount of C, insurance coverage amount of KRW 36,410,00, and the insurance period from January 13, 2017 to January 31, 2019, with respect to the Defendant’s obligation to obtain a loan from C Co. (hereinafter “C”).

The Defendant provided a guarantee issued by the Plaintiff to C, and received a loan of KRW 33,100,000 from C with interest rate of KRW 4.6% per annum and due date of payment on January 31, 2019 (hereinafter “instant loan”).

Of the content of the instant insurance contract, the part relating to the instant case is as follows.

Article 2 (Measures Taken in Cases of Failure to Fulfill Loan Repayment Obligations) (1) The principal shall faithfully perform the obligation to repay the loan in accordance with the terms and conditions of the loan agreement.

(2) If a person does not perform his/her obligation to repay a loan under paragraph (1), he/she shall not raise any objection against a claim filed by a financial institution against a guarantee insurance company for any damage incurred by the person in default of his/her obligation under a personal financial and credit insurance contract.

Article 4 (Payment of Insurance Money after Payment of Insurance Money) (1) Where a financial institution receives insurance money from a guarantee insurance company pursuant to Article 2, it shall immediately pay the corresponding amount of the insurance money to the guarantee insurance company as a statutory subrogation, and where delay is made, it shall pay the insurance money by adding the amount of the insurance money to the delayed interest rate determined by the guarantee insurance company within the highest overdue interest rate from the following day to the date of full payment (applicable to overdue interest rate determined by the guarantee insurance company within the highest overdue interest rate among the overdue interest rates of the general loan of the Si bank).

B. On February 18, 2019, C claimed insurance proceeds under the instant insurance contract to the Plaintiff on the ground that the maturity date of the instant loan was expired, and the Plaintiff paid KRW 33,783,401 as insurance proceeds to C on April 23, 2019.

C. The defendant is permissible from the Korea Land and Housing Corporation.