South Korea says it will accept an international arbitration ruling that finds in favor of U.S. hedge fund Elliott Investment Management over a 2015 merger involving Samsung affiliates. The justice ministry says it will not seek to cancel the September decision that orders Korea to pay about 153 billion won in damages plus interest.
Elliott had challenged losses linked to the merger between Samsung C&T and Cheil Industries, after Elliott bought a minority stake in Samsung C&T. The arbitration process includes earlier rulings and subsequent court steps: an initial tribunal decision in 2023 was followed by Korea taking the matter to the High Court in London, after which the dispute returned to the tribunal for further review. In the remanded ruling issued on Sept. 30, the tribunal says there is a causal link between Seoul’s role in enabling the merger’s approval and losses to Elliott. Different outlets focus on the same outcome—Korea’s acceptance of the ruling and the payment ordered—without presenting competing versions of the decision’s core findings.
