The International Centre for Settlement of Investment Disputes (ICSID) has nullified its 2022 ruling that required the South Korean government to compensate $216.5 million to Lone Star Funds over its sale of Korea Exchange Bank. This development was announced by Prime Minister Kim Min-seok.

As part of the new ruling, the tribunal has instructed Lone Star Funds to reimburse the South Korean government for its litigation expenses, amounting to approximately 7.3 billion won ($4.99 million), within a 30-day period. Both parties had sought annulment of the previous decision earlier in 2023.

The private equity firm, Lone Star, expressed disappointment with the annulment, indicating dissatisfaction over the payout ordered by ICSID, which was far less than the $4.68 billion originally claimed. A

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