President Lee Jae-myung said the government's victory was finalized in an investor-state dispute settlement (ISDS) case brought by a Chinese investor against the Korean government, noting, "We will continue to respond firmly to unjust claims."
On the 13th, Lee shared the news on X (formerly Twitter) and said, "I thank the officials at the Ministry of Justice for their efforts to protect the national interest."
He emphasized the significance of the ruling, saying, "Being a foreign investor does not mean investments that violate the laws of the Republic of Korea can be protected."
According to the Ministry of Justice, the annulment committee of the International Centre for Settlement of Investment Disputes (ICSID) dismissed in full the application to annul the arbitral award filed by a person surnamed Min, a Chinese investor.
Min pursued a business based on illegal loan funds, failed, and lost the collateral, then filed an ISDS claim of 246.1 billion won against the Korean government, alleging it was responsible.
However, the arbitral tribunal did not accept Min's claims, and the annulment application Min filed in objection was dismissed this time as well, finalizing the government's victory.
Regarding the outcome, Lee said it was "a principle confirmed even in international arbitration procedures," and indicated that in similar investor-state disputes going forward, the response will be guided by the national interest.