Jihoon Choi, a senior foreign attorney at SEUM Law(hereinafter 'SEUM') , contributed expert commentary on August 14, 2024, to an article published by Bloter regarding the ongoing put option dispute between Shin Chang-jae, Chairman of Kyobo Life Insurance, and KLI Investors LLC(Link).

The article provides an in-depth analysis of the Supreme Court’s ruling, which affirmed the lower courts' decisions holding Chairman Shin responsible for the costs associated with international arbitration in this high-profile dispute.

In his remarks, Jihoon Choi observed: “The grounds for denying recognition and enforcement under the Arbitration Act, such as instances where 'the recognition or enforcement of the arbitral award is contrary to the good morals or public order of the Republic of Korea,' are interpreted with stringent scrutiny. To refuse enforcement on these grounds, it is evident that an exceptionally high threshold must be satisfied.”

For additional information, please refer to the original article.