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The Korean government plans to seek an annulment proceeding of an international tribunal arbitration ruling that ordered the country to pay $216.5 million plus interest in damage compensation to Lone Star. The move comes in response to the U.S.-based private equity fund s annulment application submitted at the end of last month, asking the arbitration tribunal to cancel the ruling by the International Centre for Settlement of Investment Disputes (ICSID) last August.

Soult ukpyolsiSouth koreaHan dong hoonJeffrey jonesKim changKorea exchange bankInternational centre for settlement of investment disputesEwha womans university law schoolMinistry of justiceJustice minister han dong hoonMinister han dong hoonInternational centreInvestment disputesLone starChoi won mogKorea times