{
  "id": 15996033,
  "title": "Court rules against Lone Star in $125.9-mil. tax case",
  "url": "https://urgent.news/2026/10/22/court-rules-against-lone-star-in-125-9-mil-tax-case",
  "topic": "world",
  "section": "World",
  "published": "2026-10-22T04:17:03.000Z",
  "source": {
    "name": "The Korea Times",
    "slug": "the-korea-times",
    "url": "https://www.koreatimes.co.kr/business/20261022/court-rules-against-lone-star-in-1259-mil-tax-case"
  },
  "original_language": "en",
  "account": "A U.S. private equity firm, Lone Star Funds, has faced a setback in its attempt to recover $125.9 million in taxes from the Korean and Seoul city governments. The Seoul High Court recently ruled against Lone Star after the case was returned to the appeals court for review last April. The Texas-based firm had initiated legal proceedings against the state and municipality, seeking the return of taxes withheld from profits generated by its investments in South Korea. The investments were made through Lone Star and affiliated firms between 2002 and 2005, and resulted in significant profits when some shares were sold in 2007. These profits were lower than those of local companies, and Lone Star claimed this was due to a tax treaty between Korea and Belgium, the country where the investing company was based. The National Tax Service (NTS) subsequently imposed additional corporate taxes, which were initially offset by the withheld taxes. Lone Star subsequently filed a lawsuit seeking the cancellation of these additional taxes.",
  "summary": "An appeals court on Thursday ruled against U.S. private equity firm Lone Star Funds in its suit against the Korean and Seoul city governments to return a combined 168.2 billion won ($125.9 million) in taxes. The Seoul High Court handed down the ruling against Lone Star after the Supreme Court returned the case to the appeals court for review in April last year. The Texas-based firm had earlier…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 8,
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      {
        "outlet": "The Korea Times",
        "title": "Court rules against Lone Star in $125.9 mil. tax case",
        "url": "https://urgent.news/2026/10/22/court-rules-against-lone-star-in-125-9-mil-tax-case-15999665",
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    ]
  },
  "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."
}