South Korea sought to appeal against that decision at London's High Court
LONDON - South Korea lost an appeal on Thursday against a ruling that required it to pay U.S. hedge fund Elliott more than $100 million in a dispute over the 2015 merger of two affiliates of electronics group Samsung .
South Korea sought to appeal against that decision at London's High Court, arguing the PCA did not have jurisdiction to make the ruling under a free trade agreement with the U.S., but its legal challenge was rejected on Thursday. Elliott had sued over the role played by South Korea's National Pension Service in approving an $8 billion merger between Samsung C&T, in which Elliott was a minority stakeholder, and Cheil Industries.
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