Korean court awards $ 111 million to Chinese insurer

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By Nadia Dreid (December 17, 2021, 7:48 p.m. EST) – Anbang Insurance Group pushes for enforcement of 131.8 billion South Korean won ($ 111 million) arbitration award it won against Yuanta Securities after a court admitted winning, the securities company disclosed on Friday.

Yuanta Securities, a Taiwanese securities bank, will appeal the ruling on Saturday and “discuss[ing] other actions and possible remedies with lawyers, “he said in the same statement.

The latest development comes after the Seoul Central District Court on Friday ruled to recognize the arbitral award issued by the Hong Kong International Court of Arbitration, which ruled last year that Yuanta and four …

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