1. The defendant's appeal is dismissed.

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

Purport of claim and appeal

1..

1. Facts of recognition;

A. On January 27, 2016, the Plaintiff entered into a guarantee insurance contract with the Defendant and the Defendant’s Intervenor B (hereinafter “Nonindicted Company”) by setting the insurance amount of KRW 20,000,00, and the insurance period from February 1, 2016 to January 31, 2017 (hereinafter “the instant guarantee insurance contract”) with respect to the credit goods payment obligation against the Defendant and the Plaintiff’s Intervenor B (hereinafter “Nonindicted Company”), and issued the guaranty insurance policy to the Nonparty Company.

Article 6 (Compensation for Loss) Company (referring to "Plaintiff"; hereinafter the same shall apply) fails to perform the obligation to pay the amount of credit goods as stipulated in the contract entered in the insurance policy by the contractor (the "Defendant"; hereinafter the same shall apply) who is the debtor, to pay the amount of credit goods as stipulated in the contract entered in the insurance policy (the execution date is limited to the obligation within the insurance period), thereby compensating for the loss suffered by the insured who is the creditor in accordance with the terms and conditions of the insurance policy.

Article 18 (Claims for Insurance Money) (2) A company shall without delay determine the insurance money to be paid after receiving a claim for insurance money under paragraph (1), and pay it within seven days when the insurance money to be paid is decided.

(3) Where a company is unable to complete an investigation necessary for the payment of insurance proceeds within the limit of 50% of the insurance proceeds presumed by the company at the request of the insured.

In such cases, the insured shall make a request to the Company with the documents specified in paragraph (1).

4. The Company shall not pay insurance proceeds in the following cases even if the insured under paragraph (3) is requested by the insured:

1. Where the contractor contests that the claim of the insured is unreasonable;

2. Where a company is unable to conduct an investigation necessary for the payment of insurance money due to any cause attributable to the insured, the company shall pay the insurance money in accordance with the number of delayed days from the day following the day of payment of insurance money until the day of full payment.