1. The Defendants jointly and severally liable to the Plaintiff for KRW 71,50,000 and the Defendants Company B from May 15, 2015.

Facts of recognition

The Defendant B Co., Ltd. (hereinafter “Defendant Company”) entered into a guarantee insurance contract with the Plaintiff’s Intervenor to enter into a contract for the production, installation, and test operation of scoops (E-Scrap) electric processing equipment (SDBF) and sck St E (hereinafter “instant contract”). The period of construction set at the time of the contract is 63 days from October 7, 2014 to December 10, 2014.

In order to guarantee under the instant contract, the Defendant Company entered into an agreement with the Plaintiff on the performance guarantee insurance (contract) as of October 7, 2014 to April 30, 2015 (hereinafter “instant insurance”) with the insurance amount of KRW 71,50,00,000, and the insurance period from October 7, 2014 to April 30, 2015, and Defendant C jointly and severally guaranteed the Defendant Company’s obligations relating to the instant insurance agreement.

On December 7, 2014, which was three days before the expiration of the construction period of the instant contract, the base rate as of December 7, 2014 was 40% produced and 30% installed, and the Defendant Company notified the Plaintiff’s Intervenor of the extension of the construction period on January 7, 2014.

On January 14, 2015, the Plaintiff’s Intervenor notified the Defendant Company that all responsibility for the breach of the contract lies in the Defendant Company. On January 26, 2015, the Plaintiff’s Intervenor requested submission of detailed schedule and cooperation for the remaining construction works to be submitted to the project owner as a public letter from January 26, 2015, but the Defendant Company expressed that it is impossible to perform the contract within the period until February 8, 2015.

On February 11, 2015, the Plaintiff’s Intervenor notified the Defendant Company of the termination of the contract in advance. On February 24, 2015, the Plaintiff’s Intervenor notified the Defendant Company of the termination of the contract.

The Plaintiff’s Intervenor paid insurance money to the Plaintiff Intervenor on March 3, 2015, on the ground that the Defendant Company waived the instant contract and violated it. The Plaintiff claimed insurance money to the Plaintiff on March 3, 2015, and on May 14, 2015, the insurance amount of KRW 71,50,000, which is the insurance amount.