On October 14, President Yoon Suk-yeol of South Korea announced that the government has won a significant victory in the international investment dispute (ISDS) with the Swiss global elevator company, Schindler. The president encouraged the Ministry of Justice, which handled the case, stating that the dismissal of Schindler's claim for compensation amounting to approximately 325 billion won effectively protects the precious taxpayer funds of South Korea. He thanked the officials for their diligence throughout the challenging litigation, pledging continued efforts to safeguard national assets and the public interest.

The dispute originated from allegations by Schindler regarding the government's investigation and oversight duties during the processes related to the capital increase of Hyundai Elevator and the transfer of call options between 2013 and 2015. Schindler initiated the ISDS case in 2018, claiming damages due to negligence on the part of the South Korean government, which led to the arbitration proceedings at the Permanent Court of Arbitration (PCA). The case had significant implications for South Korea's handling of foreign investments and its reputation in international arbitration matters.

Following the ruling, the PCA tribunal dismissed all of Schindler's claims for damages, which is seen as a substantial win for South Korea. Additionally, the government is expected to recover approximately 9.6 billion won in legal costs from Schindler. This outcome not only reinforces the effectiveness of South Korea's legal frameworks in managing international disputes but also underscores the government's commitment to protecting citizen interests against foreign corporations.