GTT Awaits Korean Anti-Trust Appeal Verdict

French LNG carrier engineering firm GTT won its case agains the Korean fair trade commission (KFTC) but the verdict has been appealed, it said January 15.

On January 6, 2021, the Seoul High Court granted GTT's motion to suspend the effect of KFTC decision, which requires that GTT allow Korean shipyards to perform all or part of the technical assistance services currently included in the technology licence.

This favourable decision for GTT is now being reviewed by the Supreme Court and the company said it would "keep the market informed of any significant development on the matter."