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Korea Herald

S. Korea wins int'l arbitration case against elevator maker Schindler

By The Korea Herald

South Korea has won an international arbitration case brought by Swiss elevator manufacturer Schindler Holding AG, avoiding a potential payout of 320 billion won ($211.4 million) in damages, the justice ministry said Saturday. Speaking during a press briefing at the government complex in Seoul, Justice Minister Jung Sung-ho said the Permanent Court of Arbitration (PCA) in The Hague dismissed all of the Swiss company's claims in a ruling issued early Saturday, including the 320 billion-won damage