Region: Korea, Republic of

Korean centre in crisis as tensions come to the fore

The Korean Commercial Arbitration Board is “in crisis” after internal tensions are said to have led to the resignation of the highly respected chair of its international branch, Hi-Taek Shin, and other staff responsible for administering cross-border cases.

01 December 2022

Criminal conviction raises stakes in airline catering dispute

A Korean executive’s conviction last week on criminal charges relating to an airline catering contract is expected to be raised in a pending Singapore challenge to a US$1.78 billion ICC award.

23 August 2022

Another homeowner threatens treaty claim against Korea

South Korea is facing another investment dispute with a private homeowner, as a naturalised US citizen threatens to bring a claim for at least US$4 million for the expropriation of her apartment and associated “mental and emotional distress”.

04 August 2022

Airline catering award upheld in Singapore

A Singapore court has upheld an ICC award against a Korean airline in a billion-dollar dispute over in-flight catering, rejecting arguments the tribunal wrongly overlooked expert testimony.

30 May 2022

Paris court upholds award against non-signatory

A Paris court has upheld a US$74 million ICC award against two affiliates of Kuwaiti transport and logistics group KGL despite arguments that one of them was not a signatory to the contract.

28 January 2022

Daelim defeats damages claim over plastics plant

An Indian state-owned entity has won only nominal damages in an UNCITRAL claim against South Korea’s Daelim Industrial over a polyethylene project after its case on quantum collapsed, with the tribunal criticising “serious and fundamental errors” in its methodology.

18 January 2022

Iran’s central bank threatens treaty claim against South Korea

The Central Bank of Iran has threatened South Korea with a US$7 billion investment treaty claim over the freezing of Iranian assets in its banks.

04 November 2021

Samsung Heavy settles oil platform dispute

South Korea’s Samsung Heavy Industries has settled a US$600 million ICC arbitration with Japanese oil company Inpex that arose from the late completion of a project to build the world’s largest floating offshore gas processing unit off the Australian coast.

04 October 2021

Korean insurance executive avoids put-option claim

An ICC tribunal has refused to order the chairman of one of South Korea’s largest insurance providers to purchase shares in the company at a price of US$1.8 billion despite finding he was in breach of a put-option clause.

06 September 2021

Brazilian distributor wins billion-dollar dispute with Hyundai

An ICC tribunal in Frankfurt has ruled in a billion-dollar dispute over a distributor’s right to import Hyundai cars to Brazil, ruling the Korean company had no basis for refusing to renew their contract for another decade.

26 July 2021

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