Region: South Korea
South Korea escapes bulk of Lone Star claim
UPDATED WITH AWARD: Texas private equity group Lone Star’s US$4.7 billion ICSID case against South Korea has ended after a decade with the state being ordered to pay less than 5% of the amount claimed.
31 August 2022
Japan’s Inpex launches billion-dollar claim against Korean shipbuilder
Japanese oil and gas producer Inpex has filed a US$970 million ICC claim against a Korean shipbuilder over delays and defects in the commissioning of a storage vessel for an offshore project.
08 August 2022
Korean company takes Pakistani state entity to LCIA over hydro project
A South Korean joint venture has filed a US$94 million LCIA claim against a Pakistani state-owned entity over spiralling costs for a 30-year hydropower concession.
04 July 2022
Korea’s LG wins damages in dispute with Sharp
LG Corporation has won a US$95 million SIAC award against Japanese electronics manufacturer Sharp for violating a display technology licensing agreement – although it is far less than the US$850 million the Korean party had asked for.
30 May 2022
ICDR decides fight over US-Korean blockchain deal
A US blockchain technology company has asked a New York court to enforce an ICDR award rendered in a US$300 million dispute with a South Korean counterparty over a failed stock purchase.
24 May 2022
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