SEOUL : The South Korean government has been ordered to pay hedge fund Elliott more than $82 million, the Ministry of Justice said on Tuesday, in an dispute settlement case stemming from the 2015 merger of two Samsung affiliates.
Elliott was a minority stakeholder in Samsung C&T and opposed the deal, deeming the terms of the merger unduly unfavourable to the company. In 2022, South Korea's Supreme Court confirmed a jail sentence for Moon Hyung-pyo, a former health and welfare minister, for pressuring the NPS into approving the merger in connection with a corruption scandal involving former South Korean President Park Geun-hye, who was removed from office.
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