1. The Defendants are jointly and severally and severally liable to the Plaintiff for KRW 59,649,230 and KRW 57,613,050 out of the total amount of KRW 57,613,050, from February 22, 2014 to January 20, 2015.

1. Basic facts

A. On February 21, 2012, the Plaintiff between the Defendant Company A (hereinafter “Defendant Company”) and the Daegu Metropolitan City of the Defendant Company (hereinafter “Defendant Company”) as follows.

In order to guarantee the payment of the contract bond under the construction contract stated in the subsection, the policyholder company, the insured Metropolitan City, the Daegu Metropolitan City, the insurance amount of KRW 57,613,050, and the insurance period from February 21, 2012 to September 16, 2012, concluded a performance guarantee insurance (contract).

(hereinafter “instant guarantee insurance contract”). B.

Defendant B jointly and severally guaranteed all obligations owed to the Plaintiff by the Defendant Company according to the instant guarantee insurance contract.

C. At the time of entering into the instant guarantee insurance contract, the Plaintiff and the Defendant Company agreed to pay the insurance money paid by the Plaintiff to Daegu Metropolitan City due to the Defendant Company’s failure to perform an agreement with the Daegu Metropolitan City, plus damages for delay in accordance with the interest rate applied by the Plaintiff within the maximum overdue interest rate among the overdue interest rates applied by financial institutions under the Banking Act from the day following the insurance payment date to the date of payment

From Daegu Metropolitan City on February 21, 2012, the Defendant Company awarded a contract for the construction of the Daegu Metropolitan City as the construction period of the 384,087,000 construction amount, the contract deposit of 57,613,050 won, but the Daegu Metropolitan City notified the Defendant Company of the termination of the contract on December 28, 2012.

E. Thereafter, on April 3, 2013, Daegu Metropolitan City sought payment of KRW 57,613,050 to the Plaintiff under the instant guarantee insurance contract, and the Plaintiff paid the said amount to the Daegu Metropolitan City on October 16, 2013.

(f) The overdue interest rate applied by the Plaintiff is 6% per annum from the day following the payment date of insurance money to 30 days, 9% per annum from the following day to 60 days, and 15% per annum thereafter, and the payment date of insurance money to the Defendant Company.