1. The Defendant’s KRW 1,485,00,000 as well as 6% per annum from January 19, 2016 to June 24, 2016 to the Plaintiff.

Basic Facts

The party B Co., Ltd. was established for the purpose of housing construction, civil engineering and construction, etc., and decided to commence the rehabilitation procedure on March 20, 2015. The defendant joining the defendant was appointed as the manager of the rehabilitation debtor B Co., Ltd. (hereinafter “B”) without distinguishing it from before and after the commencement of the rehabilitation procedure.

The plaintiff, as a person operating D's mutual business entity, contracted a new building construction work to B as seen later.

Defendant Construction Mutual Aid Association established under the Framework Act on the Construction Industry to promote autonomous economic activities and provide various kinds of guarantees and loans necessary for the operation of construction business through mutual cooperative organizations between constructors, and entered into contract performance guarantee contracts with B as follows.

On June 24, 2013, the Plaintiff concluded a contract for new construction (hereinafter referred to as “instant construction”) with B and B (hereinafter referred to as “instant building”) on June 25, 2013, on June 24, 2015, the completion of construction works (including the completion of construction works until May 31, 2015), the contract amount of KRW 14.85 billion (including value-added tax), the contract amount of the contract deposit (including KRW 1.485 billion), and the contract guarantee period from June 25, 2013 to August 24, 2015.

(hereinafter “the instant construction contract”). The instant construction contract includes the following special terms and conditions, and the “general terms and conditions of the standard construction contract for private construction works” was incorporated into part of the instant construction contract:

E New Construction Contract 11. The rate of liquidated damages: the contract amount 】 the special agreement (based on 1/1,000) 】 the contractor (referring to B) shall subscribe to the payment guarantee insurance, etc. with an insured amount equivalent to 10% of the contract amount in order to guarantee the performance of this contract, and submit documentary evidence to the contractor (referring to the plaintiff).

The contractor shall complete or complete the terms and conditions of the contract.