South Korea is ordered to pay US hedge fund Elliott Investment Management $48.49 million in damages related to the 2015 merger of two Samsung affiliates, the justice ministry says. The decision comes from an international tribunal, which finds a causal link between government action around the merger’s approval and losses suffered by Elliott.
South Korean officials say the tribunal also directs additional payments, but they do not provide amounts for other items such as delayed interest. The ministry also says the tribunal’s finding aligns with an earlier 2023 decision that awarded Seoul the same damages amount. Elliott, for its part, says the ruling effectively grants about $113 million in total when damages, interest and other costs are included. Elliott originally filed the case in 2018, seeking far higher compensation of about $770 million, according to the accounts provided.
Across the outlets, the core details are consistent: the $48.49 million damages figure, the tribunal’s role, and the dispute’s connection to the 2015 Samsung C&T and Cheil Industries merger approval process, with differences mainly in how total payouts and additional costs are described.
