1. The defendant's appeal is dismissed.

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

Purport of claim and appeal

1...

Basic Facts

B, around March 1995, purchased Sovia II vehicle from Hyundai Motor Vehicle Servs Co., Ltd., and entered into a guarantee insurance contract with the Korea Guarantee Insurance Co., Ltd. (the Plaintiff’s trade name before the change; hereinafter “Plaintiff”).

Securities No. C: The insurance period from March 18, 1995 to September 17, 1998: In the event that a policyholder does not perform any obligation or obligation to the insured, the insurer shall pay insurance money to the insured within the coverage of the above insurance coverage amount, and the policyholder and the joint guarantor shall pay the insurance money to the insured jointly and severally paid by the policyholder and the joint guarantor within the scope of the insurance coverage amount to 14% per annum from the day following the payment of the insurance money to the 30th day from the day of the payment of the insurance money for the insurance money and the same insurance money jointly and severally paid by the Plaintiff, and from the next day to the day of the full payment, the amount calculated by adding the overdue interest rate set by the Plaintiff within the maximum overdue interest rate set by the Plaintiff from the

Around that time, the Defendant jointly and severally guaranteed the liability for indemnity against the Plaintiff in accordance with the above guarantee insurance contract.

Since then, the insured failed to pay B the installment, the insured requested the Plaintiff to pay the insurance money in accordance with the guarantee insurance contract, and on February 27, 1996, the Plaintiff paid the insured amount of KRW 9,083,874.

The Plaintiff filed a claim for reimbursement against B and the Defendant with Suwon District Court 2006Gapo232598. The Defendant rendered a final and conclusive judgment on October 19, 2006, stating that “The payment of 21,710,273 won and 7,254,315 won to the Plaintiff jointly and severally with B shall be made at the rate of 18% per annum from July 19, 2005 to the date of full payment,” and that “the payment of 21,710,273 won and 7,274,315 won shall be made at the rate of 18% per annum from July 19, 2005 to the date of full payment,” which became final and conclusive around that time.