Region: South Korea

US sanctions authority clears Korea to pay Iranian award

South Korea says the US Office of Foreign Assets Control has authorised it to pay an investment treaty award to an Iranian family despite US sanctions against Iran.

12 January 2022

US-Korean fuel cell dispute settles

A US fuel cell manufacturer has settled a billion-dollar technology dispute with South Korea’s largest private energy producer that had been playing out in five ICC arbitrations, following a successful mediation.

06 January 2022

Iranians launch second treaty claim against South Korea

An Iranian family who secured the first known investment treaty award against South Korea has launched a second claim against the state over its non-payment.

28 October 2021

Tesco award reaches checkout

UK supermarket chain Tesco says it has paid a £119 million award after it was held liable in a dispute over the multibillion-dollar sale of its Korean retail business.

11 October 2021

Jailed investor’s claim against Korea clears hurdle

An ICSID tribunal has dismissed the bulk of South Korea’s expedited preliminary objections to a claim by an imprisoned Chinese real estate investor – as the state faces a new treaty claim over a port city redevelopment project.

22 June 2021

Tesco lets award out of the bag

UK supermarket chain Tesco says it has been held liable in an arbitration over the US$6 billion sale of its Korean retail business.

15 April 2021

South Korea

Featured in The Guide to M&A Arbitration - Third Edition

20 January 2021

Korean energy producer raises stakes in licensing dispute

South Korea’s largest energy producer is counterclaiming for US$880 million in two pending ICC arbitrations relating to technology licences – accusing the US fuel cell manufacturer that filed the cases of fraud and breach of contract.

19 October 2020

ICC panel hears South Korean IPO dispute

Investors in a South Korean insurance provider are pursuing a US$2 billion ICC claim against its chief executive officer after the insurer failed to carry out an initial public offering.

30 April 2020

Korean pharma scandal deepens after disclosure in ICC case

A scandal in Korea over the mislabelling of a gene therapy treatment for osteoarthritis has intensified after it emerged in an ICC arbitration that the product’s developer was allegedly aware two years ago that its ingredients had changed.

17 September 2019

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