Seoul High Court rules in favor of Fantom Foundation, suing SikSin CEO

The Civil Division of the Seoul High Court, composed of three judges, ruled in favor of the plaintiffs, SikSin, a Korean food technology start-up, and its CEO Byung-Ik Ahn ("Ahn"), against the Fantom Foundation ("defendant" or "Fantom"). The ruling overturned the first-instance judgment of the Seoul Central District Court (which agreed to the plaintiffs' request for Fantom to pay full compensation of over 198 million FTM), dismissed all compensation claims by the plaintiffs, and ordered the plaintiffs to bear all litigation costs. The Seoul High Court is an appellate court covering the entire Seoul, Gyeonggi Province, and Gangwon Province in South Korea.