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Home > Legal & Regulatory docs.

Posco Co. Ltd. v Republican State Enterprise on the Right of Economic Management "National Centre for Complex Processing of Mineral Raw Materials of the Republic of Kazakhstan" - AIFC Case No AIFC-C-CFI-2025-0066 - 27 May 2026

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Country
  • Kazakhstan
  • Korea, Republic of
Year

2026

Summary

1.1 This claim is an application to enforce the arbitral award of an ICC Tribunal seated in Zurich, Switzerland, pursuant to the New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards.

The central issue is whether the AIFC Court has jurisdiction to entertain such a claim or whether this must be left to the regular courts of the Republic of Kazakhstan.

...

PART 5. CONCLUSION

5.1 I am aware that the scope of this Court's jurisdiction has become the subject of much political debate since the decision in National Joint Stock Company "Naftogaz of Ukraine" JSC v. Gazprom PJSC (Case No: AIFC- C/CFI/2026/0002), which was published on 15 May 2026. I have taken no notice whatsoever of that debate and focused solely upon the legal issues which have been argued by counsel before me.

5.2 Since this Court does not have jurisdiction, the other issues which have been argued (most ably) by counsel do not arise for decision.

5.3 The Claimant's claim is dismissed.

By order of the Court,

Justice Sir Rupert Jackson
Justice, AIFC Court

...

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