ICC rejects billion-dollar claim over Korean “smart city”
The Songdo business and residential complex, Incheon (Credit: Shutterstock/CHO MINJUN)
A Korean construction company has defeated a US$2.5 billion ICC claim by a New York developer that said it was fraudulently ousted from a joint venture to build a sustainable city near Seoul – a dispute that also spawned the threat of an ICSID claim.
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