India has turned its attention to comprehensive economic partnership agreements with Singapore, Japan and South Korea after having fixed the loopholes in the much-abused investment treaties with Mauritius and Cyprus.
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.
High-level South Korean diplomats have expressed their preference for the old investor-state dispute settlement (ISDS) system over the Investment Court System (ICS) in the framework of a future investment chapter in the EU-South Korea FTA.
The Dutch company Hanocal sought international arbitration to demand more than 240 billion won ($205 million) in compensation for what it claimed as extra taxes it had paid to the South Korean government.
The European Commission intends to announce in mid October its plans to revise the deal in order to add the missing investment protection chapter to it.
Samsung Engineering said that it filed an international arbitration complaint against the Oman government earlier this week over an oil refinery plant deal worth $1 billion.
For those uninitiated in the world of international arbitration, below is the primer of the issues at play in the South Korea-Lone Star Funds arbitration.
This report for US Congress answers frequently asked questions about US international investment agreements including provisions for investor-state dispute settlement.