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Korea

Swiss foreign investor claims it suffered US$264 million in damages caused by South Korean government
2-Aug-2018 Hankyoreh
This is the fourth ISDS dispute this year in which the South Korean government is embroiled.
Korea-Turkey FTA in services and investment to go into effect Wed
31-Jul-2018 Pulse
A free trade agreement between South Korea and Turkey expands to the services sector and investment from Wednesday, raising more business opportunities for Korean contents and builders in the transcontinental country.
Schindler seeks $264 mn ISD suit vs Korean gov over Hyundai Elevator
20-Jul-2018 Pulse
Schindler filed a notice of intent for arbitration on July 11. Under the ISD procedure, if the issue is not resolved through settlement in 90 days, the investor can take the case to the international tribunal.
TPP countries to start accession talks for new members in 2019
19-Jul-2018 The Mainichi
Thailand, Indonesia, Columbia, South Korea and Taiwan are seen as willing to join the revised TPP. Britain has also shown interest.
Elliott starts ISD suit against Korea, claiming $770m in damage
13-Jul-2018 Korea Herald
US-based hedge fund Elliott Associates has officially filed for an investor-state dispute settlement against the South Korean government seeking $770 million in compensation for the merger between two Samsung Group affiliates.
India, South Korea agree on early reduction of tariffs on 11 items
10-Jul-2018 The Hindu
India and South Korea have agreed to reduce tariffs on 11 items as part of the on-going negotiations for upgrading the existing Comprehensive Economic Partnership Agreement.
Revised KORUS FTA expected to be signed in September
4-Jul-2018 Business Korea
South Korea and the United States are expected to sign the revised KORUS FTA in September 2018.
US fund claims $175 million from South Korea over Samsung units’ 2015 merger
3-Jul-2018 Business Insider
New York-based hedge fund Mason Capital Management has filed a legal claim seeking at least $175 million from the South Korean government as compensation for damages it says it sustained from a 2015 merger of two Samsung Group affiliates.
S. Korea, China to hold second round of FTA talks in July
3-Jul-2018 Yonhap
South Korea and China will hold the second round of talks to expand the scope of their bilateral free trade agreement later to better cover the service and investment sectors.
Seoul, Moscow to seek start of FTA negotiations for service, investment: Moon
22-Jun-2018 Yonhap
South Korea and Russia will soon launch negotiations for their first free trade agreement , South Korean President Moon Jae-in said.
Argentina’s Macri wants Mercosur to pursue global trade deals
20-Jun-2018 Latin America Herald Tribune
Argentine President Mauricio Macri and Uruguayan counterpart Tabare Vazquez agreed that the Mercosur bloc should pursue trade accords with Asian countries and Canada.
Getting North Korea on board Belt & Road initiative will be easier than expected
14-Jun-2018 Global Times
Many think that infrastructure in North Korea is in a dilapidated state, but data from the US Central Intelligence Agency (CIA) tells a different story and one that indicates that North Korea’s economic potential may have been underestimated.
Korea suffers first defeat in ISD case
8-Jun-2018 Business Korea
The Korean government was ordered to pay about 73 billion won to an Iranian investor who filed an investor-state lawsuit, claiming that he suffered losses in the process of participating in an auction for Daewoo Electronics in 2010.
Korean govt, Elliott begin pretrial negotiations on June 14
7-Jun-2018 Pulse
The South Korean government and Elliott Management next week will enter negotiation for an out-of-court settlement over the U.S. activist fund’s $670 million damage claim for the former administration’s interference in the 2015 merger between Samsung units.
Republic of Korea, Philippines agree to accelerate RCEP conclusion
4-Jun-2018 Vietnam Plus
The Republic of Korea (RoK) and the Philippines have agreed to further expand economic cooperation and work together for an early conclusion of the Regional Comprehensive Economic Partnership (RCEP).
South Korean car exports to US falling despite KORUS FTA
28-May-2018 Business Korea
The Korea Institute for Industrial Economics & Trade (KIET) said in its report that the KORUS FTA is rapidly losing its positive effects in terms of South Korea’s car exports to the United States.
S. Korea, Mercosur agree to launch trade talks
25-May-2018 Yonhap
South Korea and the South American trade block Mercosur agreed to begin formal negotiations for a trade deal in the latter half of this year.
Pacific Alliance, associate members enter fourth negotiating round, look to clinch deal by July
17-May-2018 ICTSD
The four-country Pacific Alliance consists of Chile, Colombia, Mexico, and Peru. The coalition aims to achieve the goal, launched nearly a year ago, of conferring a new associate member status to Australia, Canada, New Zealand, and Singapore.
S. Korea, Mercosur to launch FTA negotiations in late May
16-May-2018 KBS
An official at Seoul’s Ministry of Trade, Industry and Energy said the government will actively push for new free trade deals to expand its trade relations with emerging markets.
Elliott seeks $670 mil. compensation from gov’t over Samsung C&T merger
11-May-2018 Korea Times
Elliott Associates is demanding more than $670 million in compensation from the government for losses and damages it claims to have suffered regarding the merger of Samsung C&T and Cheil Industries in 2015.