Trade Minister of South Korea should not undermine the ISDS reform objectives pursued by the Prime Minister On July 12, 2019, the Korean Prime Minister officially stated at the National Assembly that he “agreed to abolish investor-state dispute settlement (ISDS)”.[1] This remark is in line with the recommendation of UN human rights experts to UNCITRAL member …
Reportedly, Berjaya Land Berhad (BLB), a subsidiary of Berjaya Group of Malaysia brought an ISDS case against South Korea, claiming damages of KRW 4.4 trillion (around 4.0 billion in USD). According to the Ministry of Justice, Berjaya’s Notice of Intent under the Korea-Malaysia BIT of 1989 was submitted on 17 July, 2019. Back in 2008, BLB began to …
On 12 July 2019, the Prime Minister of South Korea, Mr. Lee Nak-Yon, attended the National Assembly and said that he agreed to abolish ISDS. (Media coverage: Yonhap, Hani, Khan) This remark came out while his responding to a lawmaker, Mr. Song, at the plenary session of the Budget and Accounting Committee. The Prime Minister gave reasons for his consent: an …
When the KorUS FTA was negotiated from 2006, the Korean Supreme Court delivered its opinion against ISDS to the Korean government twice in 2006 and 2007. Ridiculously, the opinion of 2006 was disappeared for unknown reason. Here is the opinion of 2007. English translation was made by the Korea National Assembly in May 2012 upon …