1. The plaintiff

A. The Defendants are jointly and severally liable for 447,604,062 won and as from June 27, 2019:

B. Defendant C and D are the same.

1. Facts of recognition;

A. All of the Defendant Company E (hereinafter “Nonindicted Company”) and the Defendant Company B (hereinafter “Defendant Company”) are companies established for the purpose of wholesale and retail business of telecommunications equipment, and Defendant C and D are joint representative directors of the Defendant Company.

B. On July 20, 2016, the Plaintiff entered into a guarantee insurance contract (the insurance amount of KRW 110 million, the insurance period of KRW 10 million from July 22, 2016 to August 20, 2019; hereinafter referred to as “first guarantee insurance contract”) with Nonparty Company F (hereinafter referred to as “F”).

On the same day, Defendant C and D provided a joint and several surety for all obligations owed to the Plaintiff of the non-party company according to the above guarantee insurance contract.

C. On February 9, 2017, the Plaintiff entered into a guarantee insurance contract (hereinafter “second guarantee insurance contract”) between the non-party company and the non-party company for the liability for damages against F under the consignment agency contract (main contract) concluded with F, and for the guarantee of the payment of goods on credit (the insurance amount of KRW 700 million, the insurance period from February 1, 2017 to January 31, 2019; hereinafter “the second guarantee insurance contract”).

On the same day, the Defendants jointly and severally guaranteed all the obligations of the non-party company against the plaintiff under the above guarantee insurance contract.

The F claimed for the payment of each insurance money to the Plaintiff on the ground that the insured event occurred due to the non-performance of the non-party company. On June 26, 2019, the Plaintiff paid KRW 85,146,689 to F with the insurance money under the guarantee insurance contract No. 1 of the Act, and KRW 499,717,922 to the insurance money under the guarantee insurance contract No. 2 of the Republic of Korea War. 2

E. The Plaintiff appropriated 52,113,860 won of the secured amount provided by the non-party company in relation to the second guaranty insurance contract for the claim for reimbursement against the non-party company, and thus remains 447,604,062 won in relation to the second guaranty insurance contract (=49,717,922 - 52,113,860 won).

The plaintiff agreed with the non-party company.