Whether the gains from foreign exchange transactions arising in the course of the bank requesting the issuance of a credit on behalf of the L/C price and disposing of its claim for reimbursement as a loan claim equivalent to Korean won constitutes the gains from foreign exchange transactions stipulated in the above provisions for distribution of profits from foreign exchange transactions (negative)

The gains from foreign exchange transactions arising in the course of the issuing bank of the credit, which is a payment guarantee other than normal credit settlement process, on behalf of the United States for the payment obligation of the credit and the disposal of the indemnity claim as a loan claim equivalent to the Korean won, cannot be deemed as the gains from foreign exchange transactions as stipulated in the above stipulation.

Article 378 of the Civil Act

Korea Long-Term Credit Bank (Law Firm citizen General Law Office, Attorneys Go Young-gu et al., Counsel for the defendant-appellant)

Korea Exchange Bank Co., Ltd. (Law Firm New century, Attorneys Director Iron et al., Counsel for the plaintiff-appellant)

Seoul High Court Decision 99Na22382 delivered on September 21, 1999

The appeal is dismissed. The costs of appeal are assessed against the plaintiff.

The grounds of appeal are examined.

Examining the reasoning of the judgment of the court below on July 9, 197, the court below held that the defendant bank was requested to issue the letter of credit from the non-party 1 (hereinafter referred to as the "Korea-Japan Energy Corporation") on the same day and issued the letter of credit to the Korea Long-Term Credit Bank (hereinafter referred to as the "Long-Term Credit Bank"), which is merged with the plaintiff bank on the same day, and the defendant bank entered into an agreement on the re-issuance and relay of the letter of credit with the applicant as the main contents of guaranteeing the applicant's obligation as the L/C issuer. The above agreement contains the difference between the sale and purchase profit rate of the L/C and the sales profit rate of the large-party 1 (hereinafter referred to as the "non-party 2's loan interest rate" as stated in the ground of appeal, and it did not err in the misapprehension of the legal principles as to the above non-party 1's claim for the above 8's loan on behalf of the bank on the ground of the above 198's settlement profit rate.

Therefore, the appeal is dismissed and all costs of appeal are assessed against the losing party. It is so decided as per Disposition by the assent of all participating Justices on the bench.

Justices Cho Cho-Un (Presiding Justice)