Korean Government Prevails Fully in USD 216.9 Million Schindler ISDS Case

- Following Victories in Lone Star and Elliott Cases -

The Government of the Republic of Korea announced that at approximately 02:03 a.m. (Korea Standard Time) on March 14, an arbitral tribunal unanimously rendered an award in the investor–State dispute settlement (ISDS) case brought in 2018 by Schindler Holding AG, a Switzerland-based global elevator company, under the Korea-EFTA Investment Agreement*. The tribunal dismissed all claims against the Republic of Korea and ordered Schindler to pay KRW 9.6 billion (USD 6.41 million) in legal costs incurred by the Korean government.

* Concluded between the Republic of Korea, Switzerland, Iceland, and Liechtenstein

<※ For more details, please refer to the attached file>