Elliott wins $113M from South Korea over Samsung merger ruling

Elliott: Elliott Investment Management is a U.S.-based activist hedge fund that engages with companies, governments, and institutions to advocate for changes aimed at improving shareholder outcomes. It recently secured a supplemental award from an international arbitral tribunal under the U.S.-Korea Free Trade Agreement, reaffirming South Korea's liability for losses tied to the 2015 Samsung merger proceedings. Samsung Group: Samsung Group is a major South Korean conglomerate with operations spanning electronics, insurance, construction, and other sectors. The group was at the center of a controversial 2015 merger between Samsung C&T and Cheil Industries that led to the ongoing international arbitration case brought by Elliott. Legal Outcome: The supplemental award upholds prior findings of liability and incorporates additional costs from extended proceedings in the investment dispute. Arbitration Development: An international tribunal has reaffirmed South Korea's breach of its free trade agreement with the U.S. through intervention in a shareholder vote on the Samsung merger.