South Korea has been ordered to pay approximately US$48.49 million plus interest to the American hedge fund Elliott, the country's Ministry of Justice said on Thursday, after an arbitration tribunal ruled that the government's intervention in the 2015 merger between Samsung C&T and Cheil Industries had a causal relationship with the losses suffered by Elliott.
According to the Ministry of Justice, the review tribunal upheld the amount of compensation set out in the original arbitration award.
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