{
  "id": 11183868,
  "title": "Korean Government Loses Elliott ISDS Remand Case",
  "url": "https://urgent.news/2026/10/01/korean-government-loses-elliott-isds-remand-case",
  "topic": "business",
  "section": "Business",
  "published": "2026-10-01T12:08:52.000Z",
  "source": {
    "name": "BusinessKorea",
    "slug": "businesskorea",
    "url": "https://www.businesskorea.co.kr/news/articleView.html?idxno=278088"
  },
  "original_language": "en",
  "account": "After winning a lawsuit to annul a US private equity fund's Investor-State Dispute Settlement (ISDS) award, the South Korean government has lost a remanded arbitration case, now liable for a $48.49 million compensation. Although a UK court partially annulled the existing arbitration award, stating the National Pension Service is not a state agency, the remanded tribunal acknowledged the causal link between the government's intervention in the merger of Samsung C&T and Cheil Industries and Elliott's damages. The Ministry of Justice announced the tribunal's decision on September 30 (Korean time). Elliott filed the ISDS in 2018 based on the Korea-US FTA, accusing the government of unfair intervention during Samsung C&T's and Cheil Industries' merger in 2015. The tribunal acknowledged government liability for compensation in June 2023, ruling in favor of Elliott. The government had previously appealed this in the UK, but the Court of Appeal accepted the appeal and remanded the case to the first instance court. The remanded tribunal partially annulled the award in February, accepting the government's argument that the National Pension Service isn't a state agency. However, it ruled the government's intervention in the decision-making process constituted a relevant measure under the Korea-US FTA, leading to the tribunal's latest decision. The government, after partially invalidating the original award, now faces the same liability for compensation as initially.",
  "summary": "Seven months after winning a lawsuit to annul the Investor-State Dispute Settlement (ISDS) award with the US private equity fund Elliott, the government has lost again in the remanded arbitration, becoming liable for compensation of about 65.8 billion won ($48.49 million).Although a UK court partial",
  "key_points": [
    "South Korean government loses $48.49M ISDS compensation",
    "UK court partially annuls arbitration award",
    "Government liable for compensation despite partial annulment"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}