THE ASAHI SHIMBUN – October 9, 2018 at 15:45 JST

Japanese Prime Minister Shinzo Abe, center, speaks at the 10th Mekong-Japan Summit Meeting held in the State Guest House in Tokyo’s Moto-Akasaka district on Oct. 9. (Pool)

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Photo: Hankyoreh

Korea Times | 26 September 2018

Moon’s ’anti-corruption’ move invites ISDS lawsuits

By Nam Hyun-woo

The Moon Jae-in administration’s campaign to “root out archaic irregularities” appears to have backfired as global private equity funds are rushing to file investor-state dispute settlements (ISDS) over the controversial merger between Samsung C&T and Cheil Industries in 2015.

Following Elliott, which went after the Moon Jae-in government’s acknowledgement of the previous administration’s intervention in the merger, a separate U.S. private equity fund, Mason, has recently issued a similar claim. Those moves are placing the government in a dilemma over whether it should deny its own rationale or pay more than 1 trillion won (890 million) in compensation.

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Chuỗi bài liên hệ: Những bí mật về một tòa án siêu toàn cầu

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ISDS is a mechanism included in many trade and investment agreements to settle disputes. Settling these investor disputes relies on arbitration rather than public courts. Under agreements which include ISDS mechanisms, a company from one signatory state investing in another signatory state can argue that new laws or regulations could negatively affect its expected profits or investment potential, and seek compensation in a binding arbitration tribunal. Corporations typically seek compensation which may amount to millions or billions of US dollars.

The system only provides for foreign companies to sue states, not the other way around.

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