양해각서 번역(영어 번역본)1. Areas of Cooperation Both parties shall promote cooperation in the following areas: 1) General matters related to the establishment and operation of the racetrack and its facilities within Golden City, which is to be constructed near Almaty 2) Joint business through the establishment of Joint Venture Company (JVC) for “the Project” 3) Other business arrangements as agreed between the both parties 2. MOU and Term of MOU 1) The term of this MOU is one (1) year from the date of execution. (However, the term may be extended by the mutual agreement of the both parties.) 2) During the term of this MOU, both parties shall enter into a contract or additional contract with legal efficacy for the establishment of Joint Venture Company (JVC) with the both parties being the principals of the company. 3) Such contract shall enter into force immediately when mutually agreed upon during the term of this MOU. 3. Division of Responsibilities 1) Responsibilities of ‘A’ ① Cost and expenses for the establishment and operation of “the Project” (Approximately 70 million ~ 80 million USD) ② Supervision over the participation of related organizations and companies in Korea necessary for the operation of “the Project” (Korea Racing Authority, Samsung SDS, and etc.) 2) Responsibilities of “B” ① Land (building site) for the establishment of “the Project” (Approximately 100ha) ② Construction of infrastructure for the establishment of “the Project” ③ Completion of legal approvals and permits from the Kazakhstan government for the establishment and operation of “the Project” ④ Gathering of various information and data for the establishment and operation of “the Project” 5. General Provisions 1) “A” and “B” shall contribute to the sublimation and advancement of one another’s corporate image through business operations that satisfy their corporate ethics. 2) To certify the execution of this MOU, “A” and “B” shall prepare and seal two (2) MOU documents, one for each party to keep. 6. Confidentiality Obligations The confidentiality obligations of the parties under this MOU shall remain in effect during the entire term of this MOU and for extra five (5) years upon the expiration of this MOU on all information including intelligent property rights and classified information acquired from one another in relation to this MOU. |