Lone Star Warns South Korea of Legal Action

홈 > News Release new

> Korea Watch

Total Articles 212

Lone Star Warns South Korea of Legal Action

whowireduniedit

2012.05.30 (16:14:53)

Lone Star Warns South Korea of Legal Action.jpg

Dallas-based Lone Star Funds has said it may pursue international arbitration over its claim that it suffered damages in its efforts to sell out of its Korea investments should it prove unable to resolve the issue "amicably" with the Seoul government.

The investments underlying this dispute include Lone Star's EUR1 billion majority stake in Korea Exchange Bank (004940.SE), which it acquired in 2003, and other investments in Korean firms made between 2001 and 2004, according to the statement.

[Via] Dow Jones

Lone Star Funds (“Lone Star”) confirmed today that it has notified the South Korean government of its intention to initiate arbitration of its claim for damages suffered as a result of the Korean government’s unlawful interference with Lone Star’s rights as the major shareholder of Korea Exchange Bank (“KEB”) and other Korean companies Lone Star acquired in the early 2000s. The claims arise out of the government’s failure to comply with its obligations under the investment treaty between Belgium and South Korea. (Click for the full text)

I want to

http://whowired.net/101809

Lone Star Warns South Korea of Legal Action.jpg(39.3KB)[15]

Comment [0]

List

Author

Password

Homepage

Notification

» Skip Edit Toolbox

Hyperlink

New Window
Insert Special Characters
Selected Symbols

Set Cell Count

Row
Column

Table Config

Border Width
Border Color
Table Background Color

Maximum Attachments : 0Byte/ 10.00MB
Maximum File Size : 5.00MB (Allowed Extensions : *.*)

	Registered Date	조회
Citibank Korea Eyes Millionaires Launching the Wealthy-Tailored Service
	Sep 04, 2012	790
Citibank Korea opened its first private wealth management service center in Seoul last month. Citigold Private Client Center, opened in Gangnam Finance Center in southern Seoul on Aug. 17, targets top-tier clients of the bank who have a minimum total balance of 1...
Is 'Gangnam Style' a Satire About Korea's 1%?
	Sep 04, 2012	862
Marketplace's Queena Kim makes the case that "Gangnam Style," the viral video made by K-pop star PSY (short for "Psycho"), is part of a broader conversation in Korea about its growing income inequity. On the face of it, the video seems simple enough: a guy dre...
Korean firm in legal battle against Dupont over ‘golden fiber’
	Sep 03, 2012	756
A thread of aramid fiber just 1.6mm thick can support a weight of 350kg. It is used to make bulletproof vests and helmets. It has also been suggested as a material for firefighting uniforms since it is five times the strength of steel and can withstand temperatures of up to ...
Citibank Korea Was Awarded Best Foreign Commercial Bank
	Sep 01, 2012	1001
Citibank Korea was awarded Best Foreign Commercial Bank from Hong Kong-based magazine Finance Asia last month. This is the fifth consecutive year Citibank has won this award. Finance Asia is one of the Asia's leading monthly financial magazines. It announces the best b...
How Koreans React to US Court's Rule on Patent Case Involving Samsung and Apple
	Aug 31, 2012	626
Just a couple of weeks after the Olympics and a new flare-up of the islets dispute with Japan, South Koreans have found another way to express some nationalism – by getting angry about the U.S. court jury that found Samsung Electronics Co. guilty of patent infringement a...
Korean chicken frenzy
	Aug 28, 2012	569
Passion for anything Korean has gone beyond the K-Pop, television series and beauty products. Now, K-food fever is being dished up in Jakarta. New restaurants offering original Korean cuisine to its fusion forms have taken the town by storm. Kimchi, bimbimbab (the deli...
Gangnam Style, Dissected: The Subversive Message Within South Korea's Music Video Sensation
	Aug 25, 2012	613
The Atlantic, prestigious news media in the US, gave its poignant analysis into what's behind this phenomenal success of "Gangnam Style" by Psy, Korean rapper. Here are some extracts worth to brood over. Gangnam is a symbol of that aspect of South Korean culture. The neig...
Korea Court Gives Split Decision on Samsung, Apple
	Aug 24, 2012	691
A three-judge panel in Seoul Central District Court said Apple infringed two Samsung technology patents, while Samsung violated one of Apple's patents. The court awarded small damages to both companies and said they must halt sales of the infringing products in South...
Korea Needs Its Version of Mark Zuckerberg to Spur Economic Growth
	Aug 23, 2012	561
The U.S. has Mark Zuckerberg of Facebook. Japan has Masayoshi Son of Softbank. China has Jack Ma of Alibaba. South Korea has . . . who, exactly? That question grows more and more urgent as Korea tries to shift economic gears from manufacturing powerhouse to global inn...
Psy Interviews with ABC News: South Korean Rapper PSY's 'Gangnam Style' Goes Viral
	Aug 18, 2012	791
When South Korean rapper PSY released his music video "Gangnam Style" last month, he had no idea it would go so globally viral. YouTube has recorded more than 28 million hits and countless parody video clips have been uploaded every day. The music is addictive, wi...
South Korea Consumers Pulling Back on Spending
	Aug 08, 2012	668
Amid a rocky outlook for the export markets that drive its economy, South Korea’s policy makers might have hoped domestic demand might pick up some of the slack. But the wishful thinking in any such expectations was demonstrated by Tuesday’s ugly news from the retail ...
Best summer outings in Korea
	Jul 21, 2012	1283
During the summer festival period, fun-seekers flock to South Chungcheong Province to wrestle and slide in the sludge at Boryeong Mud Festival on Daecheon Beach. It has been running for 14 years since 1998 to promote the beneficial properties of the high-mi...
Seoul's last 1-screen cinema plays classic finale
	Jul 12, 2012	560
Seoul's last old-style, one-screen cinema, soon to be knocked down and replaced by a hotel, played its final movie Wednesday — the Italian classic "The Bicycle Thief" — a moment so emotional for the theater operator that she publicly shaved her head in frus...
South Korea Shuns Moms at Peril as Workforce Shrinks
	Jul 03, 2012	688
South Korea’s working-age population will begin to contract by 2016, curbing growth by as much as 1.7 percentage points to 2.5 percent by 2050, Royal Bank of Scotland Group Plc said in a June 13 report. Getting mothers back into the workforce would help off...
Korean startups still fight against the stigma of failure
	Jun 13, 2012	765
In Korea, however, this is still a taboo, which needs to be overcome in order to grow the country’s startup ecosystem. Failure is a key part of learning, according to everyone in Silicon Valley. A number of entrepreneurs look to their failures as part of ...
Why South Korea (and the US) Use Amusement Parks to Push Creationism
	Jun 07, 2012	631
Two recent events portray creationism debates in very different settings. First, Nature reports that a creationist organization in South Korea has successfully campaigned to remove references to evolution from high-school textbooks. The Society for Textbook Rev...
Rise of Korean Traditional Medicine in the World
	Jun 01, 2012	852
We are inarguably in the age of modern medicine, but more and more patients around the world are turning to more traditional methods for medical treatments. Korean traditional doctors are hoping to capitalize on the trend by using their age-old herbal medici...
Lone Star Warns South Korea of Legal Action
	May 30, 2012	751
Dallas-based Lone Star Funds has said it may pursue international arbitration over its claim that it suffered damages in its efforts to sell out of its Korea investments should it prove unable to resolve the issue "amicably" with the Seoul government. The investme...
An App to Mirror Korean Users' Trend Toward Intimacy in SNS
	May 21, 2012	774
Between is part of a trend towards intimacy in social networking. Some Facebook users are fed up with the torrent of “friend” requests from people they barely know. Others resent being tagged in embarrassing photographs their boss can see. Hence the rise of...
Top snack trends for 2012? Seaweed and mango
	May 15, 2012	730
Multicultural influences, particularly from the Middle East, the Mediterranean and Asia, are playing a large role in the development of new snack flavors, says the National Confectioners Association which is playing host to the Sweets & Snacks Expo in Ch...