HONG KONG, Aug 3 (Reuters Breakingviews) - South Korea’s dealmaking skeletons are back to haunt.
Paul Singer's Elliott opposed a $9 billion union eight years ago of Samsung C&T (028260.KS) and Chiel Industries.
South Korea’s successful prosecution of Lee, Park and a former minister that oversaw NPS, provided cause for Elliott to demand payback.
Elliott sued in 2018 and the Permanent Court of Arbitration in the Hague in June awarded the U.S. fund over $100 million.
Far from being the end of it though, President Yoon Suk Yeol’s government is contesting that award in a British arbitration court.
Persons:
Samsung's Lee, Paul Singer's Elliott, Elliott, Jay Y, Lee, Park Geun, Yoon Suk, Hague, Yoon, Taiwan's TSMC, Una Galani, Thomas Shum
Organizations:
Reuters, Korea Inc, Samsung, Chiel Industries, National Pension Service, NPS, U.S ., Korea, Trade, Global, Samsung Electronics, Apple, Tokyo, Korea's Ministry, Justice, Elliott Investment, Thomson
Locations:
HONG KONG, U.S, Hague, Seoul, Korea, China, Beijing, Washington, Taiwan, Japan, South Korea, United States