SEOUL : The South Korean government has been ordered to pay hedge fund Elliott more than $82 million, the Ministry of Justice said on Tuesday, in an dispute settlement case stemming from the 2015 merger of two Samsung affiliates. The arbitration tribunal at the Hague partly accepted Elliott's claim for ab
SEOUL : The South Korean government has been ordered to pay hedge fund Elliott more than $82 million, the Ministry of Justice said on Tuesday, in an dispute settlement case stemming from the 2015 merger of two Samsung affiliates.
Elliott was a minority stakeholder in Samsung C&T and opposed the deal, deeming the terms of the merger unduly unfavourable to the company. In 2022, South Korea's Supreme Court confirmed a jail sentence for Moon Hyung-pyo, a former health and welfare minister, for pressuring the NPS into approving the merger in connection with a corruption scandal involving former South Korean President Park Geun-hye, who was removed from office.
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