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1. The counterclaim of this case shall be dismissed.
2. Arbitration of the Korean Commercial Arbitration between the Plaintiff (Counterclaim Defendant) and the Defendant (Counterclaim Plaintiff).
Reasons
1. Basic facts
A. On August 25, 2014, the Plaintiff entered into an advisory contract with the Defendant to provide advice on strategic management and financing, such as financing of business funds, etc. for the construction of a factory to the 29-1, Yongsan Jeju Jeju Jeju Jeju District District District District Office (hereinafter “instant contract”), and provided advice on the method of raising business funds and the appropriate use of funds, etc. according to the terms and conditions of the contract, but filed an application for arbitration with the Korea Commercial Arbitration Board on the ground that the Defendant did not receive KRW 30,800,000 out of the advisory fees.
B. In the written submission of the above arbitration case, the Defendant terminated a loan contract with the Defendant on the ground that “the Defendant obtained a loan of KRW 1,840,000,000 from the National Bank upon the Plaintiff’s advice, and used KRW 300,000 among them as construction cost upon the Plaintiff’s advice, but the National Bank became aware of the fact that funds borrowed as land price were used as construction cost. Accordingly, the Defendant was notified of the termination of the construction contract from the High Gold Integrated Construction Corporation, the contractor (hereinafter “the contractor”), and the construction project which was scheduled to be completed on September 20, 2015, was completed on September 20, 2015. As such, due to the Plaintiff’s erroneous advice, the Defendant could incur damages to the Defendant, including KRW 75,818,504,00,00 among them, and the Defendant did not have any obligation to claim damages to the Plaintiff under the contract.”
C. On February 15, 2016, the Korean Commercial Arbitration Tribunal rendered an arbitral award stating that the Defendant shall pay to the Plaintiff KRW 30,800,000 and damages for delay as indicated in the attached Form (hereinafter “instant arbitral award”).
The Arbitral Tribunal is submitted by the Defendant.