1. The defendant's appeal is dismissed.

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

Purport of claim and appeal

1..

A. The Defendant concluded an agreement to change the purchase price of insurance to KRW 60,000,000, and around that time, the Defendant jointly and severally guaranteed A’s obligation to the Plaintiff based on the modified agreement that increased the purchase price of insurance to KRW 60,000,000.

B. On June 16, 201, the Plaintiff entered into a guarantee insurance contract (payment) with A to guarantee A’s payment of fees for the ASEAN life insurance (hereinafter “instant guarantee insurance contract”) with a securities number C, the insured worker’s DNA life insurance, the insurance amount of KRW 60,000,000, and the insurance period from June 1, 201 to July 31, 2014 (hereinafter “instant guarantee insurance contract”).

On June 16, 2011, the Plaintiff entered into an agreement with the Defendant on the joint and several guarantee of the Defendant’s obligation to the Plaintiff under the instant guarantee insurance contract (hereinafter “instant joint and several guarantee agreement”).

The main contents of the instant guarantee insurance contract and the instant joint and several sureties agreement are as follows:

* The content of subscription for insurance: Amount of insurance coverage of C insurance for performance (payment): 60,00,000 won: insurance period of 60,000: 201/06/01-201 to 2014/07/31 (1,157): Guarantee of payment for insurance companies' obligation to refund fees (limited to the obligation under the payment regulations of commission and the obligation under a monetary loan contract is not secured): Special Terms and Conditions for Guarantee of Payment for Balance Insurance Amount of Special Terms and Conditions of Insurance: Obligations arising under the old Securities D shall be secured within the coverage of the subscription amount of this Policy, and the insurance contract for old securities shall be extinguished: 2,264,260 won: Contract number of insurance premiums for an insurance company: Contract amount of 60,000 won: Contract amount of insurance solicitor for term renewal: Contract amount of 201/60,000 or less: Seoul Guarantee Insurance Company's obligation amount of 201/6/201/302/5.