1. On March 20, 2012, between the Plaintiff and the Defendant, the glass Corporation among the new construction works for cultural broadcasting new businesses concluded on March 20, 2012.

Facts of recognition

In 2011, the Cultural Broadcasting Co., Ltd. Co., Ltd. (hereinafter “cultural Broadcasting”) contracted to the Defendant a new construction project for cultural broadcasting facilities, sales facilities, and cultural and assembly facilities on the ground of 18,200 square meters in building area, total floor area of 149,757.90 square meters on the ground of 1603, Mapo-gu, Seoul, Mapo-gu, Seoul.

On March 20, 2012, the Defendant guaranteed the Plaintiff’s free subcontract for construction works and the Plaintiff’s performance of the contract. On March 20, 2012, the Plaintiff concluded a subcontract agreement for construction works (hereinafter “instant subcontract”) with the content that the cultural broadcasting company, which is the prime contractor, shall perform the performance standards, such as the running rate and reflect rate of the visible luminous ray, solar reproduction heat administration rate and reflect rate, heat acquisition rate, heat, shielding coefficient, etc., as determined in the construction specifications. The Plaintiff concluded a contract for construction works (hereinafter “instant subcontract”) with the content that the Plaintiff will perform the construction works from March 20, 2012 to July 31, 2013 (including value-added tax) with the content that the cultural broadcasting company, which is the prime contractor, will perform the construction works (hereinafter “instant subcontract”).

The main contents of the above subcontract are as follows:

Contract bond: Article 7 (Performance of Contracts and Guarantee for Payment of Contract Price) (1) and B shall mutually guarantee the execution of contracts and the payment of contract price in any of the following methods:

(3) The payment in cash or the delivery of the letter of guarantee as provided for in any of the following subparagraphs shall apply:

1. A letter of guarantee issued by the construction mutual aid association, specialized construction mutual aid association, guarantee insurance company, and guarantee agency equivalent thereto, such as the Korea Credit Guarantee Fund.