The judgment below

The part against the Defendant regarding USD 32,601,248 shall be reversed, and this part of the case shall be reversed.

The grounds of appeal are examined (to the extent of supplement in case of supplemental appellate briefs not timely filed).

1. As to the Defendant’s ground of appeal

A. In light of the characteristics of the arbitration system, the composition of the arbitral tribunal is one of the most essential and essential elements of the arbitration agreement and the arbitral proceedings, and if there is any violation of the agreement between the parties in terms of the composition of the arbitral tribunal, then the basis of the authority of the arbitral tribunal is shaking (see, e.g., Supreme Court Decision 2017Da24091, Apr. 10, 2018). Article 5(1)(d) of the United Nations Convention on the Recognition and Enforcement of Foreign Arbitral Awards (hereinafter “New York Convention”) provides that the composition of the arbitral tribunal or the arbitral proceedings, which forms the basis of the arbitral award, are not consistent with the parties’ arbitration agreement or may refuse recognition or enforcement of the arbitral award when it violates any discretionary provision.

However, in order to constitute grounds for refusal of recognition and enforcement of an arbitral award under the above provision, it is not sufficient to simply have violated the parties’ agreement or voluntary provision, and the degree of infringement on the party’s procedural right under the pertinent arbitral proceeding should be clearly acceptable.

(See Supreme Court Decision 2017Da238837 Decided December 22, 2017 (see, e.g., Supreme Court Decision 2017Da238837, Dec. 22, 2017). (2) The lower court determined that the composition of the instant arbitral tribunal did

(A) The instant dispute is subject to arbitration under the instant arbitration clause, and the Plaintiff and the Defendant are the parties thereto. The instant arbitration clause does not stipulate any right to select an arbitrator, unlike the Defendant, to the Plaintiff, and the Plaintiff and the Defendant are unable to settle the dispute by the parties pursuant to Article 10(c) of the instant arbitration clause.