S. Korea ordered to pay nearly $50 mil. to Elliott over Samsung merger case

South Korea has been ordered by an international tribunal to pay nearly $50 million to U.S. hedge fund Elliott Investment Management over a dispute related to the 2015 merger of two Samsung affiliates. The South Korean government was directed to pay $48.49 million in damages to Elliott due to the merger controversy, according to the justice ministry.

The tribunal acknowledged a causal link between Seoul's involvement in approving the merger of Samsung C&T Corp. and Cheil Industries Co. and the financial losses suffered by Elliott. This decision follows a similar ruling from 2023, where Seoul was also ordered to pay the same amount in damages. Elliott, who filed the case in 2018 seeking compensation of $770 million, expressed satisfaction with the verdict, noting that the tribunal awarded about $113 million in total, including damages, interest, and other costs.