Financial Services Commission: "Will Promptly Implement ISDS Ruling with Dayani Family"

US Treasury Department Issues Special License... Compensation Payment Now Possible

[Asia Economy Reporter Jin-ho Kim] The Financial Services Commission announced on the 12th that it will make every effort to ensure the swift implementation of the Dayani-gawa international investment dispute settlement (ISDS) ruling.

On the same day, the United States informed the issuance of a specific license by the Office of Foreign Assets Control (OFAC) under the Treasury Department for the remittance of the compensation. Accordingly, the path has been opened for Korea to remit the ISDS compensation payment to Dayani-gawa.

The Financial Services Commission plans to use the issuance of the U.S. government’s license as an opportunity to ensure that the arbitration ruling with Dayani-gawa is promptly implemented and concluded. It also plans to swiftly proceed with agreements on detailed matters with Dayani-gawa, cooperation with related financial institutions, and legal reviews.

A Financial Services Commission official explained, "After all procedures are completed, we will strive to disclose detailed information within the scope of compliance with relevant laws and regulations."

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