Korean Supreme Court suspends GTT licence ruling before appeal

The French LNG containment and technology company lodged an appeal on 22 December against a Seoul High Court decision on 1 December 2022. This appeal was accompanied by a request for suspension of the decision.

The lower court had found against the French company, requiring it to separate its technology license from technical assistance if requested by the shipyards.

On 17 January 2023, the Supreme Court of Korea decided to suspend the execution of the Seoul High Court’s decision.

GTT notes that as a result shipyards cannot request that GTT separates its technology license and technical assistance until a decision is made by the Supreme Court of Korea. No date for a hearing has yet been set.

GTT will keep the market informed of any significant development on the matter.