Gov't sets up ISD response team

The government will form a taskforce to counter investor-state dispute (ISD) cases filed by foreign investors such as U.S. private equity Lone Star and activist Elliot Management, according to the Ministry of Justice, Friday.

The justice ministry will be heading the taskforce that consists of officials from the Office for Government Policy Coordination, the Ministry of Economy and Finance, the Ministry of Trade, Industry and Energy and the Ministry of Foreign Affairs.

Ministry officials will immediately share information, conduct joint research and evidence gathering to prepare for court battles with foreign investors.

Elliot has filed a legal dispute against Korea on a merger of two Samsung affiliates. The ISD ruling for the Lone Star case is expected to come in the latter half of the year.