Korea Fair Trade Commission – Appeal procedure update
Paris – January 15, 2021. As announced, GTT has appealed on December 31, 2020, against the decision of the Korea Fair Trade Commission (KFTC), with a request for suspension of the decision, before the Seoul High Court.
On January 6, 2021, the Seoul High Court granted GTT’s motion to suspend the effect of KFTC decision, which requires that GTT allow those Korean shipyards which would so request to perform all or part of the technical assistance services currently included in the technology license.
This favourable decision for GTT is currently being reviewed by the Supreme Court of Korea as the KFTC has appealed against it on January 14, 2020.
The Company will keep the market informed of any significant development on the matter.
GTT (Gaztransport & Technigaz) is a technological and engineering company expert in containment systems with cryogenic membranes used to transport and store liquefied gas, in particular LNG (Liquefied Natural Gas). For over 50 years, GTT has been maintaining reliable relationships with all stakeholders of the gas industry (shipyards, ship-owners, gas companies, terminal operators, classification societies). The company designs and provides technologies which combine operational efficiency and safety, to equip LNG carriers, floating terminals, and multi-gas carriers. GTT also develops solutions dedicated to land storage and to the use of LNG as fuel for the vessel propulsion, as well as a full range of services.
GTT is listed on Euronext Paris, Compartment A (ISIN FR0011726835 Euronext Paris: GTT) and is notably included in SBF 120 and MSCI Small Cap indices.
For more information, visit www.gtt.fr.