South Korea Ordered to Pay Elliott .49 Million in Samsung Merger Dispute

South Korea Ordered to Pay Elliott $48.49 Million in Samsung Merger Dispute

South Korea faces $48.49 million payment to Elliott after tribunal rules government's merger involvement caused losses.

October 1, 2026 One Min Read

POLICY WIRE — Seoul, South Korea — A tribunal has ordered South Korea to pay U.S. hedge fund Elliott Management approximately $48.49 million in damages related to the 2015 merger of Samsung C&T and Cheil Industries, according to the country’s Justice Ministry.

The ruling, issued by an international arbitration panel, determined that the South Korean government’s role in the merger directly contributed to financial losses suffered by Elliott, which held a stake in the merged entity. The decision reaffirms an earlier award, including interest and legal costs, as part of the ongoing investor-state dispute.

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The case began in 2018 when Elliott filed for arbitration under the Korea-U.S. Free Trade Agreement, alleging that government intervention violated trade terms. The tribunal found that actions by the Blue House and the Ministry of Health and Welfare improperly influenced the merger process, leading to the latest ruling.

Reporting by Policy-Wire (PW)

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