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Korea accepts Elliott arbitration loss in Samsung merger case
South Korea has decided to accept an international arbitration ruling against it in favor of U.S. hedge fund Elliott Investment Management over the 2015 merger of Samsung C&T and Cheil Industries, the justice ministry said Wednesday. Yonhap reports the government will pay compensation to Elliott, and KBS World notes the decision comes after eight years of dispute. The Korea Times also confirms the ministry's announcement, though specific payment amounts were not detailed in the supplied reports. Korean media coverage focuses on the government's acceptance of the adverse ruling, with Yonhap and KBS World framing it as a defeat for Seoul in the investor-state dispute.
