RedHill Enforces $10.9M Korean Judgment Against Kukbo Following U.S. Court Ruling
RDHL•RedHill has commenced Korean recognition and enforcement proceedings to collect a $10.9 million New York Supreme Court judgment against Kukbo, including $8.9 million principal and $1.95 million in legal fees. No further appeals are possible and statutory interest at 9% continues to accrue while Kukbo’s response is pending.
1. Enforcement Proceedings in Korea
RedHill has formally served Kukbo with a complaint in Korean courts to recognize and enforce the New York Supreme Court’s final judgment totaling $10.9 million. This action follows the judgment becoming eligible for foreign enforcement after Kukbo missed its appeal deadline in March 2026.
2. Judgment Composition
The total award comprises approximately $8.9 million in principal damages and $1.95 million in legal fees and expenses, each including accrued statutory interest to date. The 9% annual interest continues to accrue on both the principal and fees until recovery.
3. Appeal Status and Interest Accrual
No further appeals are permissible regarding either the principal award or the fees portion, rendering both judgments final. Statutory interest continues to accumulate, increasing the total potential recovery over time.
4. Next Steps and Uncertainties
RedHill now awaits Kukbo’s formal response in the Korean proceeding and the scheduling of hearings by the Korean court. Timing and ultimate recovery remain uncertain due to procedural variables and Kukbo’s asset availability.
