The New York Convention(formally called "United Nations Convention on the Recognition and Enforcement of Foreign Arbitral Awards") done in New York on June 10, 1958 has been adhered to by more than 140 States at the time of this writing, including almost all important trading nations from the Capitalist and Socialist World as well as many developing countries. The Convention can be considered as the most important Convention in the field of arbitration and as the cornerstone of current international commercial arbitration. Korea has acceded to the New York Convention since 1973. When acceding to the Convention, Korea declared that it will apply the Convention to the recognition and enforcement of awards made only in the territory of another Contracting State on the basis of reciprocity. Also, Korea declared that it will apply the Convention only to differences arising out of legal relationships, whether contractual or not, which are considered as commercial under the national law of Korea. The provisions relating to the enforcement of arbitral awards falling under the New York Convention begin at Article III. The Article III contains the general obligation for the Contracting States to recognize Convention awards as binding and to enforce them in accordance with their rules of procedure. The Convention requires a minimum of conditions to be fulfilled by the party seeking enforcement. According to Article IV(1), that party has only to supply (1) the duly authenticated original award or a duly certified copy thereof, and (2) the original arbitration agreement or a duly certified copy thereof. In fulfilling these conditions, the party seeking enforcement produces prima facie evidence entitling it to obtain enforcement of the award. It is then up to the other party to prove that enforcement should not be granted on the basis of the grounds for refusal of enforcement enumerated in the subsequent Article V(1). Grounds for refusal of enforcement are stipulated in Article V is divided into two parts. Firstly, listed in the first Para. of Article V are the grounds for refusal of enforcement which are to be asserted and proven by the respondent. Secondly, listed in Para. 2 of Article V, are the grounds on which a court may refuse enforcement on its own motion. These grounds are non-arbitrability of the subject matter and violation of the public policy of the enforcement country. The three main features of the grounds for refusal of enforcement of an award under Article V, which are almost unanimously affirmed by the courts, are the following. Firstly, The grounds for refusal of enforcement mentioned in Article V are exhaustive. No other grounds can be invoked. Secondly, and this feature follows from the first one, the court before which enforcement of the award is sought may not review the merits of the award because a mistake in fact or law by the arbitrators is not included in the list of grounds for refusal of enforcement set forth in Article V. Thirdly, the party against whom enforcement is sought has the burden of proving the existence of one or more of the grounds for refusal of enforcement. The grounds for refusal of enforcement by a court on its own motion, listed in the second Para. of Article V, are non-arbitrability of the subject matter and public policy of the enforcement country. From the court decisions reported so far at home and abroad, it appears that courts accept a violation of public policy in extreme cases only, and frequently justify their decision by distinguishing between domestic and international public policy. The Dec. 31, 1999 amendment to the Arbitration Act of Korea admits the basis for enforcement of foreign arbitral awards rendered under the New York Convention. In Korea, a holder of a foreign arbitral award is obliged to request from the court a judgment ordering enforcement of the award.

The purpose of this thesis lies on building the foundation for the further activation of trade among the Northeast Asian countries such as South Korea, Japan, China, Russia, and North Korea through an analytical comparison of their arbitration systems. Further activation of trade cannot be reached without previously building safety measures on the negotiation of exports, the control on defective imported merchandise, the returns on investments, and the stable management of businesses. Throughout this thesis an analytical comparison of these five countries' most important areas on arbitration will be carried out. These areas are the arbitration laws and organizations; the structures of the laws; scope of arbitration; form of arbitration agreement, appointment of arbitratiors, place of arbitration, hearing, court assistance in taking evidence, governing law, decision making by panel of arbitrators, form and contents of awards, effective of award, recourse against award, recognition and enforcement of awards. etc. It was found in each of the areas cases to be identical, similar or verydifferent; also, cases unable to arbitrate. This phenomenon was found to occur due to the differences in political and economic systems and perception of arbitration among these countries. Additionally, this thesis points out what should each country do for its integration. It is also suggested the organization of a common arbitration research body to continue the efforts for raising the awareness, building trust, and mutual recognition among the countries to ultimately create a common arbitration system. Lastly, it is a personal will that this thesis will serve as the starting point for in depth researches in each of the presented areas.

Laws regarding to Arbitration in North Korea are Arbitration Act, Foreign Economic Arbitration Act, Regulations on the Foreign Trade Arbitration Commission, Regulation for treatment of cases in Arbitration Commission, Rules of Hearing. North Korea has enacted the laws related to Arbitration including Arbitration Act enacted in 1995 and Foreign Economic Arbitration Act enacted in 1999. In the North Korea's planed economy system, as there will be many disputes among organizations, companies, other Institutions Arbitration Act resolves the disputes to compete the economic plan. North Korea's Arbitration Act is different from Normal Arbitration Acts in particular other socialist states in view of arbitration agreement and selection of arbitrator and functions as the tools controlling the members of North Korea and have the characteristics such as national arbitration system and mixture of criminal trial and governmental control and strict legal control system on violent acts in North Korea's plan and plan regulation. And North Korea's Arbitration Act deals with the civil disputes and limits the parties and subject matter of arbitration. The parties in dispute such as organizations, companies, other Institutions could apply for arbitration to Central Arbitration Body and Provincial (City under the direct control of Government) Arbitration Body and Sectional Arbitration Body. The purpose of this paper is to contribute to the enhancement of the understanding arbitration in North Korea by studying the clauses in the Arbitration Act.

The purpose of this paper is to analyze trade disputes between Korea and China in terms of broad industrial policy concept and to derive some solution. It provide first a historical overview of the basic theory for the trade policy in the developing countries to see how the trade policy evolved the different stage of option and then try to highlight features of China's trade policy development after the capitalization. An attempt is also made to review the trade dispute in Kimchi in order to identify what are the underlying reasons for policy failure. Finally, we will try to suggest trade strategy with major policy directions which could be relevant for trade development of Korea today. The trade dispute issue with China has been newly coined referring to Korea's weakening economic stance among the two powerful Asians countries, China and Korea has always been closed partners geographically and economically. The study has stressed that the Koreans should not recoil from the trade crisis but to consider it as an opportunity. Rapidly growing Chinese manufacturing industry has heightened the importance of trade between Korea and China, indicating conversion in specialization from vertical to horizontal, according to the economic research so far. This paper has proposed strategy to cope with any trade disputes between Korea and China.

Arbitration is contractual by nature. One cannot be required to submit to arbitration any dispute which he has not agreed to so submit. As commercial transactions become increasingly complex, involving multiple parties and numerous contracts for a single transaction, however, limiting the parties who are subject to arbitration to only those who have signed a contract containing an arbitration clause would frustrate the purpose of such arbitration clause and might lead to injustice among the relevant parties. Therefore, U.S. courts have recognized a number of theories under which non-signatories may be bound to the arbitration agreement of others: (1) incorporation by reference; (2) assumption; (3) agency; (4) veil-piercing/alter ego; and (5) estoppel. Incorporation by reference and veil-piercing theories have already been recognized by Korean courts. Agency theory and estoppel theory are not recognizable under Korean law. However, the same or similar result may be achieved by applying the third party beneficiary theory or assumption by third party theory. Although a couple of Supreme Court cases appear to be at odds with the assumption theory, on the basis of the recent amendments to the Arbitration Act, such court precedents can be and should be reversed.

The law of Jus Rerem of China enacted on March 16, 2007 came into force from October 1st, 2007. China has enacted the law of Jus Rerem. This means that all three nations of Northeast Asia have formally and substantially similar legal terms and conceptions. Therefore, they will be reciprocally influenced on the legal matters related Jus Rerem. In the year 1949 when China, as a communist country, was originally established without the private ownership system, the law of Jus Rerem was not introduced. Since the reform and the open-economy policy in the year 1978 came into force, it has become important that newly acknowledged private property has been stipulated by the law of Jus Rerem. Arbitration Law of China is enacted on August 31th, 1994 and came into force from September 1st, 1995. It is a basic law which rules Chinese arbitration system. China has enacted the law of Jus Rerem, "conformed with the 21st century", by solving a lot of issues in dispute. A socialistic idea, a traditional Chinese idea and realistic conditions of the market economy were integrated into the law of Jus Rerem. It would have a very good effect on the growth and prosperity of China.

Digital goods are defined as intangible and non-physical goods, composed of a combination of digital signals, electronically represented as 0 and 1. They are also called as digital products, electronic transmissions, information goods, digital contents, computer information, etc. Digital goods are now traded both domestically and internationally as well as on-line and off-line. Korean government revised the Basic Law on Foreign Trade to include digital goods and services as the scope of foreign trade in 2001. Trade volume of digital goods are increasing in Korea. The supply chains of digital goods from producing the components to selling globally to consumers are different from conventional physical goods. Mostly, digital goods are traded on the license basis rather than ownership contract. End User License Agreements(EULAs), such as shrink-wrap, click- wrap, or browser-wrap licenses are very popular in online transactions. Unlike conventional physical goods. the breach of license contract is closely linked with the infringement of intellectual property rights. Digitalized intellectual property is easy to copy and transmit in the cyber space. In cases of legal disputes from the breach of license contract, commercial arbitration or on-line alternative dispute resolutions(ADRs) are regarded as better approach to solve them rather than court sues. For promoting more secure and reliable international trade of digital goods. arbitration clauses should be included in most of license contracts.