1. The defendant's appeal is dismissed.

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

Purport of claim and appeal

1..

1. Facts of recognition;

A. D, upon receiving a loan of KRW 20,00,00 from E Co., Ltd., entered into a guarantee insurance contract for the principal and interest of loan (hereinafter “instant guarantee insurance contract”) with the Plaintiff as follows, and the Defendant and C jointly and severally guaranteed all obligations to be borne by D under the said guarantee insurance contract against the Plaintiff.

- Amount of insurance coverage: 22,00,000 won (Article 1): Insurance period: - From October 10, 1994 to December 8, 1999 - When the company has paid insurance proceeds due to non-performance of its obligations owed by the company (insurance accidents) due to non-performance of its obligations, the principal and the guarantor shall immediately reimburse the insurance proceeds payable, but if delayed, shall reimburse by adding damages for delay from the day following the date of payment of the insurance proceeds to the date of full payment.

The overdue interest rate of 14% per annum shall apply to the amount repaid from the day following the date of payment of insurance money until 30 days from the date of payment, and the overdue interest rate determined by the company within the maximum overdue interest rate among the general overdue interest rate of commercial banks for the period exceeding 30 days.

(Article 3). (b)

D When an insured incident occurred in which D could not repay loans to E Co., Ltd., the Plaintiff paid insurance money of KRW 21,584,267 to E Co., Ltd. on April 12, 1996.

C. After that, the Plaintiff received a total of KRW 28,714,959 from D, etc.; among them, 16,038,712 won, which was paid by the Plaintiff until October 31, 2003, occurred as stated in the separate sheet, and as a result, the Plaintiff appropriated the total of KRW 16,038,712 for the principal, the damages for delay incurred as stated in the separate sheet, and the total of KRW 29,752,782 (i.e., principal amount of KRW 5,545,555,55 damages for delay) was paid as of October 31, 203, and the remainder of KRW 12,676,247, which was paid thereafter, did not reach the remainder of KRW 17,076,535,535 as the Plaintiff appropriated the principal.

[Ground of recognition] Unsatisfy, entry of Gap evidence 1 to 7, and this court.