'Elliott ISDS Worth About 1 Trillion Won, Decision Expected This Evening'

The conclusion of the international investment dispute settlement procedure (ISDS·Investor-State Dispute Settlement) filed by the US-based hedge fund Elliott Management against our government, involving approximately 1 trillion won, will be announced on the afternoon of the 20th.

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The Ministry of Justice stated, "The arbitration tribunal for the Elliott case informed us on the 12th that the ruling is scheduled to be delivered at 8 PM Korean time on this day."

Elliott's ISDS, filed in July 2018, is the longest-running ISDS case against South Korea. Elliott, a shareholder of Samsung C&T, claimed that during the approval process of the merger between Samsung C&T and Cheil Industries in 2015, the Ministry of Health and Welfare and the National Pension Service exerted pressure to vote in favor, causing damages. Therefore, in July 2018, Elliott filed an ISDS against our government seeking $770 million (approximately 1.0378 trillion won).

The arbitration tribunal was formed in November 2018, and from April 2019 to November 2020, written submissions were made. Oral hearings took place from November 15 to 26, 2021, and both parties submitted two additional written submissions in April and May of last year. The tribunal declared the procedure closed on March 14 and delivered the ruling on this day.

This content was produced with the assistance of AI translation services.