South Korea Ordered to Pay Elliott $48.49 Million in Samsung Merger Case
The remand tribunal upheld the award after finding Seoul’s role in the Samsung merger caused Elliott’s losses, while the fund had sought $770 million.
- On Thursday, an international tribunal ordered South Korea to pay Elliott $48.49 million in damages over the 2015 merger of Samsung C&T and Cheil Industries, resolving a dispute spanning years.
- Elliott filed the case in 2018 seeking $770 million, arguing that South Korean government mediation during the merger approval process was 'unfair' to the minority shareholder.
- The tribunal granted about $113 million, including interest and costs, after the High Court in London reviewed the case and sent it back for reconsideration in February.
- Elliott welcomed the decision in a release, noting the tribunal upheld the same damages award as the original 2023 arbitration, confirming South Korea's liability.
- The tribunal determined that Seoul's intervention in the Samsung and Cheil Industries merger was causally linked to Elliott's losses, finalizing the government's obligation to pay.
16 Articles
16 Articles
S. Korea ordered to pay nearly $50 mil. to Elliott over Samsung merger case
South Korea has been ordered to pay nearly $50 million in compensation to U.S. hedge fund Elliott Investment Management over the 2015 merger of two Samsung affiliates, the justice ministry said Thursday. An international tribunal ordered the South Korean government Wednesday to pay $48.49 million in damages to Elliott over a dispute stemming from the controversial merger, according to the ministry. The ministry did not give figures for other cos…
The South Korean government lost the remanded arbitration for an International Investment Dispute Settlement (ISDS) case against the U.S. private equity firm Elliott and will have to pay approximately $48.49 million (about 65.8 billion won) plus accrued interest. Although the government won in a UK court last February by overturning the previous arbitration award, the arbitration tribunal that received the case again ruled in favor of Elliott.
(Seoul = Yonhap News) Reporter Park Jae-hyun = Seven months after winning the lawsuit to overturn the International Investment Dispute Settlement (ISDS) ruling against the U.S. private equity fund Elliott, in the remanded arbitration...
The Ministry of Justice has once again lost the remand arbitration case regarding an international investment dispute with the U.S. company Elliott. The tribunal recognized a causal relationship between the government's intervention in the Samsung C&T merger and the damages, and ordered compensation of $48.49 million. The government is currently reviewing the final amount to be borne, including interest and litigation costs.
South Korea ordered to pay Elliott $48.49 million in Samsung merger case
PR Newswire
Arbitral Tribunal Reaffirms Korea's Liability to Elliott for Corrupt Intervention in 2015 Samsung Merger
/PRNewswire/ -- Elliott Investment Management L.P. ("Elliott"), today issued the following statement: On Sept. 30, 2026, the arbitral tribunal (the "Tribunal")...
Coverage Details
Bias Distribution
- 45% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
