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1. The instant lawsuit shall be dismissed.
2. The costs of lawsuit shall be borne by the Plaintiff.
Reasons
1. Facts of recognition;
A. Agreement on the formation of a consortium for LNG transport business (formerly: Madern Shipping Co., Ltd.), Defendant Hyundai Merchant Shipping Co., Ltd. (hereinafter “Modjin Shipping”), Hanjin Shipping Co., Ltd. (hereinafter “Korean Jinjin Shipping”), KSS Shipping Co., Ltd. (formerly changed: hereinafter “KSS Shipping”), Choyang Shipping Co., Ltd., Ltd., and Honam Tank Shipping Co., Ltd., constituted a consortium on September 20, 1990 and agreed with the Korea Gas Corporation for the purpose of participating in the LNG transport business.
1) For the efficient and safe transportation of LNG vessels, a participant company, except the operator company, shall select one operator company per LNG vessel. The participant company shall delegate all the powers concerning the construction of LNG vessel, financing required therefor, cargo transport, operation of vessels, etc. to the operator company of the relevant vessel. 2) In the case of the No. 1 of LNG-transport vessel, the Plaintiff, and in the case of the two vessels among subparagraphs 3 through 7 (hereinafter “instant vessel”), the selection principles, participant company, participation shares, etc. of LNG vessel elected by mutual vote, including determining the modern merchant vessel as each operator company.
B. Concluding a joint agreement for the construction and operation of LNG vessels (hereinafter “instant agreement”) among the seven shipping companies involved in the said agreement, the remaining companies, other than Honam Shipping Co., Ltd., are entitled to take full charge of the transportation of LNG imported by the Korea Gas Corporation on September 10, 191, to jointly carry out the business of securing and operating the instant vessels (hereinafter “instant agreement”).
(2) The instant contract was concluded. (2) The said companies shared the instant vessel in accordance with their respective shares, but the Plaintiff, the operating company, secured and operated the vessel by a bareboat charter on the condition of acquiring ownership, and the Plaintiff alone.