AlphaBIZ - A ruling was issued requiring the Korean government to pay 43.8 billion won in compensation to Mason.

(Photo = Provided by Samsung C&T)

[Alpha Biz= Reporter Kim Jisun] In an Investor-State Dispute Settlement (ISDS) filed by U.S. private equity fund operator Mason Capital against the South Korean government, the South Korean government has decided to pay $32.03 million (about KRW 43.8 billion). This is 16% of Mason's damages, the highest recognition rate of damages among government-run ISDS lawsuits.

On the 11th, the Permanent Court of Arbitration (PCA) arbitration court partially cited Mason's claim in an arbitration application filed by Mason against the South Korean government. The panel said, "The South Korean government should pay Mason $32.03 million." The panel also said the government should pay Mason 10.31 million dollars (about 14.1 billion won) in legal costs and 630,000 euros (about 925 million won) in arbitration costs.

The ruling recognized 16% of Mason's damages of about $ 200 million (worth KRW 273.7 billion).

Mason filed an ISDS against the South Korean government in September 2018. Mason claims that the merger between Samsung C&T and Cheil Industries in 2015 was disadvantageous to Samsung C&T shareholders and that the National Pension Service suffered heavy losses in favor of the merger under the pressure of the Park Geun-hye administration. At that time, Mason held a 2.18% stake in Samsung C&T.

 

 

 

AlphaBIZ Kim Jisun(stockmk2020@alphabiz.co.kr)