TechFlow news, on November 4, Michael Kong, current CEO of the Fantom Foundation, announced that South Korea's Supreme Court unanimously dismissed all appeal arguments from former Fantom CEO Byung-Ik Ahn on October 31, 2024. This decision fully upholds the June 19, 2024 ruling by the Seoul High Court in favor of the Fantom Foundation, bringing closure to a legal dispute that has lasted over two years.
The South Korean Supreme Court stated in its judgment that, after comprehensive review, the appellant's claims lacked legal basis. Previously, Byung-Ik Ahn had repeatedly claimed the foundation was "stolen," but the Seoul High Court found "no evidence indicating such a situation." Michael Kong particularly acknowledged the contributions of legal counsel RosettaLegal, crediting their precise advice and deep understanding of the case as instrumental to the victory. This ruling clears legal obstacles for the future development of the Fantom Foundation and is expected to boost market confidence in the project.
