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Korea Gas Corporation made contract management inadequate, it was able to send 13 billion won from ship companies. It turns out that the most basic period of the contract, the period of exclusion, did not even take into account the period in which the bonds were legal.

This is Han Hyun-ho.

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Hyundai Merchant Marine, which had suffered a liquidity crisis in 2014, sells LNG transportation business to Hyundai LNG Shipping for 500 billion won.

In the process, KOGAS, which exclusively supplies LNG, received a confirmation that the two companies will compensate in case the company loses as a condition of the sale agreement.

Although some sort of safeguard was in place, the commitment did not help in recovering 13 billion won in 2014.

This is because the construction side has missed the most basic matters.

It has exceeded the legal expiration date of the bond for two years.

[Former Korean Commercial Arbitration Arbitrator: (Arbitration) are cases where we are going to be judged for a matter of content in the contract. After the exclusion period, the rights had been revoked, and it was not known and the other side still remained. It seems unlikely

that the dispute was over .] It was judged that there was no period discussion.

Therefore, it was cut off that there was no need to look at other content after the exclusion period, which is a requirement for litigation and arbitration.

Gas Corporation is not the only one that can not understand.

When the Corporation was unable to recover the money, the company suspended the payment of the KRW 26 billion in freight fare for both companies in 2016.

It was set as a kind of collateral for the 13 billion won of unpaid money, but as a result of the arbitration, Hyundai LNG Shipping had to pay 14 billion won in freight charges and interest.

Although there are 12 billion won tied to the Hyundai Merchant Marine, even this has been requested again after the arbitration award.

In the first place, if you carefully inspected and responded to the transportation contract, you would not have to pay for the arbitration fee and the cost of litigation.

The Korea Gas Corporation initiated an internal audit of the employees in charge at the time.

[Kim, Ki - Soo / South Korea Gas Corporation introduced Sales Director: decision-making process, then we are looking specifically at about the reasons for the delay time before reason can not sue, so losing that part at the right time to -

year sales Korea Gas Corporation, a huge public corporation with tens of trillion trillion won.

Risk management, including bond management, is poor.