National Pension Service

The Ministry of Justice announced on Thursday that the international tribunal handling the remanded arbitration suit filed by the US-based hedge fund ordered Seoul to pay forty-eight point four nine million US dollars in damages plus interest.

In 2018, Elliott filed the investor-state dispute settlement based on the South Korea-U.S. Free Trade Agreement, accusing the Park Geun-hye administration of putting pressure on the National Pension Service, then a major stakeholder, to vote in favor of the merger and cause losses for the firm.

The Hague-based Permanent Court of Arbitration ordered South Korea to pay the same amount of damages in 2023, which the government initially sought to nullify, arguing a jurisdiction violation under the FTA when the tribunal classified the NPS as a de facto state agency.

South Korea has grabbed a gold medal in the men's team 25-meter rapid-fire pistol event for the first time in 12 years at the Aichi Nagoya Asian Games.