The Korean government will appeal the order of an international tribunal to pay about W130 billion to U.S. hedge fund Elliott Investment Management over the dodgy merger of two Samsung affiliates facilitated by bribes to then-President Park Geun-hye in 2015 (US$1=W1,260).The merger allowed then-Samsung heir presumptive Lee Jae-yong to seize control of the publicly traded conglomerate thanks to its labyrinthine holdings structure. The tribunal accepted Elliott's claim that it lost US$770 million as a result of a drop in stock prices due to interference by the Park government through the National Pension Service, a major Samsung shareholder, when it approved the merger between Samsung C&T and Cheil Industries.

https://n.news.naver.com/mnews/article/023/0003776640?sid=104

#naver