Samsung Heavy to Seek International Arbitration Over Canceled Zvezda Deals with Russia

SEOUL, June 13 (Korea Bizwire) – South Korean shipyard Samsung Heavy Industries Co. said Thursday a Russian shipyard unilaterally canceled supply contracts worth billions of dollars and it plans to take the case to an international arbitration center. Russia’s Zvezda Shipbuilding Complex recently canceled a combined US$4.2 billion worth of contracts signed in 2019 and [...]