How much must South Korea pay Elliott in the Samsung merger arbitration case?

The Sept. 30 ruling ordered South Korea to pay about 153 billion won, or $114 million, in damages plus interest. The tribunal recognized a causal relationship between Seoul’s intervention in approval of the merger and Elliott’s losses.

Why did Elliott sue South Korea over the Samsung C&T and Cheil Industries merger?

Elliott said it suffered losses as a minority stakeholder in Samsung C&T because of what it described as unfair mediation by the Korean government in the merger’s approval. The fund filed its case in 2018 over the 2015 merger.

Why did South Korea stop challenging the Elliott arbitration ruling?

The justice ministry decided not to file a suit seeking cancellation of the Sept. 30 ruling. The article does not state the ministry’s reason for accepting the ruling.

Korea accepts int'l arbitration in favor of Elliott in Samsung merger case

Listen

Summary

South Korea will accept an international arbitration ruling in favor of Elliott Investment Management over the 2015 merger of Samsung C&T and Cheil Industries, the justice ministry said Wednesday. The ministry decided not to seek cancellation of the Sept. 30 ruling, which ordered Korea to pay about 153 billion won ($114 million) in damages plus interest. The tribunal found a causal relationship between Seoul’s intervention in the merger approval and Elliott’s losses.

Key Facts

Elliott filed its case in 2018, seeking compensation for losses tied to the merger.
Elliott, a minority stakeholder in Samsung C&T, argued that the Korean government unfairly mediated the merger’s approval.
An international tribunal ruled for Elliott in 2023, after which the Korean government challenged the ruling at the High Court in London.
The case was returned to the international tribunal for review in March.

By Yonhap

Published Oct 28, 2026 4:05 pm KST

A justice ministry official speaks during a briefing on the Korean government's legal dispute with US hedge fund Elliott Investment Management at the ministry's office in Gwacheon, Gyeonggi Province, Feb. 24. Yonhap

Korea will accept an international arbitration ruling in favor of U.S. hedge fund Elliott Investment Management over the 2015 merger of two Samsung affiliates, the justice ministry said Wednesday.

The ministry decided not to file a suit seeking a cancellation of last month's ruling, which ordered Korea to pay about 153 billion won ($114 million) in damages plus interest to Elliott.

Elliott originally filed the case in 2018, seeking compensation over losses from the controversial merger between Samsung C&T and Cheil Industries.

The U.S. hedge fund, which was a minority stakeholder of Samsung C&T, argued unfair mediation by the Korean government in the merger's approval.

An international tribunal ruled in favor of Elliott in 2023, but the Korean government took the case to the High Court in London. It was eventually returned to the international tribunal for review in March.

In the remanded ruling on Sept. 30, the tribunal recognized a causal relationship between Seoul's intervention for the approval of the merger and losses to Elliott.

Explore More