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 October 27, 2009, the Plaintiff and A Co., Ltd. (hereinafter referred to as “A”), Thai General Construction Co., Ltd., Thai General Construction Co., Ltd., Cheongjin Construction Co., Ltd., Cheongjin Construction Co., Ltd., Cheongjin Construction Co., Ltd., Ltd., Cheongjin Construction Co., Ltd., Ltd. (hereinafter referred to as “the instant joint supply and demand organization”) constituted a joint supply and demand organization with the Plaintiff’s representative as the Plaintiff’s representative, and C Co., Ltd. (hereinafter referred to as “the instant construction”).

B. On June 4, 2010, the members of the instant joint supply and demand agreements including the Plaintiff and A entered into a joint supply and demand agreement (hereinafter “instant agreement”) with a view to determining mutual roles, profit sharing, etc. in executing the instant construction jointly, and the main contents thereof are as follows.

Part I General Provisions

3. Methods of executing construction works;

(a) In the implementation of this Convention, the Corporation shall not divide the substance and the area of the project, and each company shall jointly carry out the project, and the scope of the joint performance shall include all the construction changes as well as any gold contract.

(b)The activities of the joint contractors shall be co-investment, co-ownership and co-ownership in accordance with their respective shares.

4. Representative of the project and the ratio of members; and

A. The Plaintiff shall represent the members of the ordering person and shall be responsible for all necessary measures for the smooth implementation of the construction work until the rights and obligations of the ordering person of the construction work are completed.

(b) Members shall divide their respective shares as follows and have the powers and responsibilities arising therefrom:

- Plaintiff: 48% - A: 7% - (hereinafter omitted)

(c)The above agreement ratio shall be modified in accordance with the above agreement ratio when the contract value has been increased or decreased due to changes to the terms and conditions of the contract with the ordering person.

Part IV Funds and Accounting Management

4. Demand and payment of funds;

(a) A claim for funds at the site shall be the amount of direct and indirect expenses compiled from the representative on a monthly basis;