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Korea Honest Commerce Fee (KFTC) – GTT appeals the Seoul Excessive Court docket’s choice dated December 1, 2022
Paris – December 22, 2022. GTT introduced that it has appealed the Seoul Excessive Court docket’s choice of December 1, 2022 earlier than the Supreme Court docket of Korea.
As a reminder, this choice partially granted GTT’s attraction in opposition to the Korea Honest Commerce Fee’s corrective order by revoking the €9.5 million administrative high quality paid by GTT, however confirmed the Firm’s obligation to separate the expertise license settlement from the technical help if requested by the Korean shipyards.
GTT’s attraction is expounded to the duty to separate the expertise license and the technical help. It is going to be accompanied by a request for suspension of the choice. However, the KFTC has appealed in opposition to the revocation of the executive high quality.
GTT needs to emphasise that the licence of the expertise and the technical help represent an inseparable providing, which ensures the integrity of its applied sciences.
The Firm will hold the market knowledgeable of any vital growth on the matter.
Key dates
- December 2, 2020: KFTC’s choice ordering GTT to permit the Korean shipyards upon their request, to carry out all or a part of the technical help companies presently included within the expertise license and to pay an administrative high quality of €9.5 million
- December 31, 2020: GTT’s attraction earlier than the Seoul Excessive Court docket and software to droop the impact of the KFTC choice
- January 6, 2021: Seoul Excessive Court docket choice to droop the impact of the KFTC choice
- January 14, 2021: KFTC’s attraction of the suspension of impact choice earlier than the Supreme Court docket of Korea
- Could 14, 2021: choice of the Supreme Court docket of Korea to reject the attraction from the KFTC
- December 1, 2022: choice on the deserves of the Seoul Excessive Court docket.
- December 22, 2022: attraction of the Seoul Excessive Court docket’s choice earlier than the Supreme Court docket of Korea.
About GTT
GTT is a technological professional in containment techniques with cryogenic membranes used to move and retailer liquefied gases. For over 50 years, GTT has been designing and offering cutting-edge applied sciences for a greater power efficiency, which mix operational effectivity and security, to equip LNG carriers, floating terminals, land storage, and multi-gas carriers. GTT additionally develops techniques devoted to using LNG as gas, in addition to a full vary of companies, together with digital companies within the area of Sensible Transport. The Group can be lively in hydrogen via its subsidiary Elogen, which designs and assembles electrolysers notably for the manufacturing of inexperienced hydrogen.
GTT is listed on Euronext Paris, Compartment A (ISIN FR0011726835 Euronext Paris: GTT) and is notably included in SBF 120, Stoxx Europe 600 and MSCI Small Cap indices.
For extra data, go to www.gtt.fr.
Media contact:
press@gtt.fr / +33 (0)1 30 23 48 45
Investor Relations contact:
information-financiere@gtt.fr / + 33 (0)1 30 23 20 87
- IR PR – GTT KFTC 22 12 2022 EN
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