US Department of State | 13 January 2020
KTurbo Inc. v. United States of America
On October 31, 2019, Claimant KTurbo Inc. served a Notice of Intent to Submit a Claim to Arbitration under Chapter 11 of the U.S.-Korea Free Trade Agreement (KORUS FTA), alleging that the U.S. government had, in connection with the prosecution of Claimant’s CEO for wire fraud and smuggling, expropriated certain of Claimant’s property in violation of Article 11.6. Claimant seeks approximately $10 million in damages.
Notice of Intent (pdf)