Region: Korea, Republic of

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

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

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

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

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

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

The cast list has emerged for a US$600 million ICC case between South Korean shipbuilder Samsung Heavy Industries and a Japanese oil company over what is said to be the world’s largest floating offshore gas processing unit, based off the Australian coast.

23 July 2021

A consortium including German-Swiss hotel group Kempinski has lost its ICC claim against the South Korean city of Incheon over an abandoned US$290 billion plan to transform a fishing village into a rival of China’s Macau.

09 July 2021

A South Korean aerospace company has launched a US$60 million SIAC claim against an Airbus subsidiary that reportedly provided a defective part for a helicopter that subsequently crashed, killing several Korean soldiers.

27 April 2021

A US national has threatened to bring an ICSID claim against South Korea over the forced sale of his apartment block to make way for a port city redevelopment plan.

10 February 2021