South Korea secures final ISDS victory after ICSID rejects Chinese investor’s annulment bid

  • South Korea defeated Min’s final challenge to the ISDS arbitration award.
  • Min’s latest reported claim totaled 246.1 billion won, or $178 million.
  • President Lee Jae-myung pledged firm responses to unjust investment claims.

South Korea secured a final victory in an investor-state dispute settlement (ISDS) case brought by Chinese investor Min after an International Centre for Settlement of Investment Disputes (ICSID) annulment committee rejected all requests to cancel the arbitral award. The latest government account put Min’s claim at 246.1 billion won ($178 million), while the existing case record said the claim initially reached about 2 trillion won before being reduced to at least 264.1 billion won ($197 million). The original tribunal rejected Min’s claims, finding that the investment violated South Korean law and was not protected under the Korea-China Investment Agreement. President Lee Jae-myung said the outcome confirmed that foreign investors cannot receive protection for investments made in breach of domestic law and pledged a firm response to unjust claims.

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