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. Basic facts

A. On May 8, 2013, the Plaintiff entered into a performance guarantee insurance contract (contract number E) (hereinafter “instant guarantee insurance contract”) between D Co., Ltd. (hereinafter “D”) and D Co., Ltd. (hereinafter “D”) with respect to the construction of the F drainage System facilities in Jeju-gun, the insured person’s seal-gun, the purchase amount of insurance amount of KRW 78,275,614 (the purchase amount of insurance amount of October 22, 2013 changed to KRW 80,020,650), and from May 6, 2013 to November 1, 2013 (hereinafter “instant guarantee insurance contract”). On the same day, the Defendant, which was the representative director of the said company, guaranteed all obligations that the said company bears to the Plaintiff in accordance with the said guarantee insurance contract.

The main contents of the Guarantee Insurance Contract are as follows.

In concluding a guarantee insurance contract with the plaintiff (hereinafter referred to as the "company"), the principal and the joint guarantor (hereinafter referred to as the "sureties") undertake to faithfully implement the following provisions:

Article 3 (Insurance Accidents and Termination of Principal Contracts) Principal and Surety undertake to confirm that the terms and conditions of this Guarantee Insurance Contract concerning the time of occurrence of an insured incident and the termination or cancellation of principal contracts are as follows, and to perform obligations in good faith:

1. The insured events of this Guarantee Insurance Contract shall be deemed to have occurred when the principal fails to perform his obligations or obligations as stipulated in the principal contract guaranteed by the company without any justifiable reasons; and

2. The principal contract shall be terminated or cancelled in order for the company to pay insurance proceeds upon occurrence of an insured incident, and in such cases, the termination or cancellation of the principal contract shall not be required within the insurance period;

Article 4 (Compensation for Loss and Bearing of Expenses) (1) When a company fails to perform its obligation or obligation guaranteed by the company (hereinafter referred to as "insurance accident") pays insurance proceeds to the insured, it and the guarantor shall immediately pay the insurance proceeds.