• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.27
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• pp.29-65
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• 2005

Northeast Asian economies have achieved high levels of growth due to a stable economic environments and economic policy reforms for free trade. As Northeast Asia has been risen as big bloc in the world and in the future in case free trade agreement could be concluded, trade volume could be increased dramatically. And it is evident that disputes will be increased in Northeast Asian economic bloc. Arbitration must be popular in resolving international commercial disputes in Northeast Asian bloc in order to increase the volume of intra-trade in the bloc. Through arbitration, the parties can have full autonomy and can resolve disputes independently, impartially and without delay. But in order for the parties to make use of arbitration in the bloc, they must be fully aware of the arbitration laws of Northeast Asian nations in view of the similarity and difference of the laws. Therefore, this paper deals with arbitral award in Northeast Asian Nations' arbitration laws in view of comparative law.

• Journal of Arbitration Studies
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• v.17 no.1
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• pp.217-234
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• 2007

동북아시아 국가들은 세계 무역 및 투자에 중요한 역할을 담당하고 있다. 동북아시아 역내 및 역외 국가들과의 경제교류는 앞으로 계속 늘어날 것으로 전망되며, 이로 인한 국제상사분쟁은 국제상사중재 등 ADR에 의해 해결될 수밖에 없을 것이다. 동북아시아에서 ADR 제도가 발전되기 위해서는 무엇보다도 한국의 대한상사중재원, 북한의 조선국제무역중재위원회, 중국의 중국국제경재무역중재위원회, 일본의 일본상사중재협회, 러시아의 러시아상공회의소 부설 국제상사중재법정, 카자흐스탄의 카자흐스탄국제중재기관, 몽골국가중재법정 상호간의 중재 업무 전반에 관한 협력제제가 구축되어야 할 것이다. 국제상사중재에 관하여 동북아시아에 새로운 바람이 불고 있다. 경제자유구역 및 남북간 경제교류와 관련한 상사분쟁이 상사중재로 해결될 수 있는 법, 제도적 기반이 마련되었기 때문이다. 지난 해 한국에서는 대한상사중재원 주도하에 무역클레임 센서스가 실시되고 국제중재세미나가 개최되었으며 국제중재규칙이 제정(2007년도 2월 1일 시행 예정)된바 있다. 동북아시아 지역에서 국제상사중재제도가 발전되고 저변이 확대되기 위해서는 중재기관들 간의 협조체제가 구축되어야 할 것이다. 한편 한국도 동북아시아의 중재허브로 성장하기 위해서는 국제금융, M&A 등 중재 영역을 확대하고 경제자유구역 및 남북상사중재 등과 같은 새로운 영역에 대처를 잘 해야 할 것이다. 아울러 정부 당국의 재정적 지원과 행정적 배려도 수반되어야 할 것이다.

• Journal of Arbitration Studies
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• v.18 no.1
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• pp.121-145
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• 2008

Northeast Asia is increasingly making a transition to distinctive and crucial region in the 21st Century and growing into one of world's top three economic spheres along with the EU and NAFTA. In 2003, Korean government announced the Northeast Asian economic hub country plan as an important agenda. As a means of coping with the changing global environment, Korean government designated Incheon in 2003 as the country's first Free Economic Zone ahead of Busan and Gwangyang Bay in the south of the country because Incheon has a geographical advantage linking North America and Europe with Incheon International Airport and Incheon Seaport. The purpose of this paper is to make research on establishment and operation of an arbitral body entitled ${\ulcorner}International Arbitration Center{\lrcorner}$ (IAC) within Incheon Free Economic Zone(IFEZ). For the purpose of this, the writer in this paper, reviewed the necessity of the IAC's establishment and its legal basis as well as the role and function of the Center. Also, the writer presented plans for how to operate the IAC and how to cooperate with the key arbitral organizations of foreign countries for the settlement promotion of commercial disputes including trade and investment. With development of the IFEZ, world-renowned enterprises will invest in the Incheon economic bloc and conduct economic activities, business operation, marketing, logistics, financing, etc. In this connection, diverse types of commercial disputes are expected to occur between foreign companies entering the IFEZ and Korean firms. In this connection, the Korean Commercial Arbitration Board(KCAB) has been operating its liaison office in the IFEZ since 2004. However, in view of the increasing arbitration demand, the IAC should be set up in the IFEZ in the near future by the positive support of the government in the respect of both administration and finance because the free economic zone-related law provides for the installation of arbitration organization. For the success of the IAC, the Center will have to provide not only good quality of arbitral services that can satisfy arbitration parties but also need to conduct researches and make efforts so that arbitration can be utilized well in the IFEZ. If the IFEZ can provide advantageous business environments to those multinational enterprises intending to the Incheon economic bloc, the IAC will also contribute to the settlement of commercial disputes arising from the Gaeseong Industrial Complex in North Korea in view of the geographical advantage and logistic benefit of the IFEZ. Finally, this paper also suggests a new model for a joint dispute resolution system by the initiative of Korean government and Korean arbitral organizations for the settlement of commercial disputes within Northeast Asia, for which the CAMCA(Commercial Arbitration and Mediation Center for the Americas) of NAFTA can be a good example.

• Journal of Arbitration Studies
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• v.15 no.2
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• pp.61-91
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• 2005

It is well recognized that the availability of prompt, effective and economical means of dispute resolution is an important element in the orderly growth and encouragement of international trade and investment. Increasingly, ADR(Alternative Dispute Resolution) including arbitration and mediation, instead of litigation in national courts, has become the preferred means of resolving private international commercial disputes. Under the situation, efforts for settlement of trade and investment disputes by ADR have been made between Korea and China through trade and investment agreements and arbitration agreement. Judging from the importance of economic exchange between Korea and Qingdao including Shandong Province, The Korean Commercial Arbitration Board(KCAB) and The Qingdao Arbitration Commission(QAC) should strengthen mutual cooperation to develop efficient methods of resolving commercial disputes arising between the two countries and to assist parties in solving those disputes through conclusion of arbitral agreement. Recently, efforts for conclusion of a Korea-China-Japan Free Trade Agreement(FTA) received strong support at Korea-Japan and Korea-China Summit Meeting held on June and July, 2003 respectively. If the conclusion of FTA among the three countries would be realized, it would promote regional trade and investment, contributing to economic growth in the Northeast Asian region. Under the circumstances, the key arbitral institutions including KCAB and QAC should consider to take the initiative in setting up tentatively called ${\ulcorner}$Joint Arbitration Center for Northeast Asia${\lrcorner}$ for which the CAMCA of NAFTA will be the good example.

• Journal of Arbitration Studies
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• v.29 no.4
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• pp.101-120
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• 2019

This study examines the development strategies of the arbitration industry in Singapore and Hong Kong, and its purpose is to provide implications for the development of the arbitration industry in South Korea. The main strategies implemented by Singapore and Hong Kong to develop the arbitration industry are as follows: first, improvement of the arbitration law system; second, active support of the government for promoting the arbitration industry; third, build up of an effective arbitration expert training system; and fourth, an arbitration-friendly attitude of the court. In order for South Korea to become an international arbitration hub in Northeast Asia, it is necessary to refer to the above-mentioned strategies. In addition, South Korea needs to develop marketing strategies that can differentiate itself from Singapore and Hong Kong, such as the development of an arbitration system in connection with the 4th Industrial Revolution, differentiation of the disputes sector, use of geographical advantages and a penetration pricing strategy, and support of the Korean Commercial Arbitration Board. In terms of marketing strategy, there are few studies on the development strategy of the arbitration industry in South Korea. In this respect, this study has academic value and differentiation.

• Journal of Arbitration Studies
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• v.17 no.1
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• pp.3-32
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• 2007

This age is called the age of global trade, and the World Trade Organization is a forerunner in promoting the global free trade through multilateral negotiations as the global level. On the other hand, regional economic cooperation such as North American Free Trade Agreement(NAFTA) is appearing, saying that promotion by WTO takes too much time. As is known to everybody, Europe is on the way of integrating member states through EU not to mention economic cooperation. Even in Asia such tendency is shown through ASEAN, Korea, China and Japan in Northeast Asia share geographical proximity, many common historical experiences, and similar cultural norms and values although they have disparities in stages of development, trade and economic policies, and financial and legal frameworks. Under the situation, efforts have been made between three countries of Korea, China and Japan for the conclusion of investment agreements including FTA. If the conclusion of the FTA between the three countries would be realized, it would promote regional trade and investment, contributing to economic growth in the Northeast Asian region. The writer in this paper reviewed the settlement of private commercial dispute including investment dispute arising from the FTA and investment agreements. The investment dispute is quite different from an ordinary commercial dispute arising from commercial transactions in view of disputing parties, applicable laws and rules, etc. Therefore it is a problem of vital importance that the parties interested in investment under the FTA as well as the relevant investment agreement should understand and cope with the settlement mechanism of investment disputes arising therefrom. The ICSID Convention provides facilities for the conciliation and arbitration of disputes between member countries and investors who qualify as nationals of other member countries. All contracting states of the ICSID Convention are required by the Convention to recognize and enforce the ICSID arbitral awards. The New York Convention(formally called "United Nations Convention on the Recognition and Enforcement of Foreign Arbitral Awards") is also applicable for the enforcement of arbitral awards to be rendered under the FTA. As to applicable rules, the UNCITRAL Arbitration Rules may be required for the settlement of investment disputes under the FTA. This Rules has adopted by the internationally recognized arbitral organizations although it was developed primarily for use in ad hoc arbitration. The promotion of arbitral cooperation may be realized through agreements between arbitral institutions. Especially under the NAPTA system, a central common system was established to resolve jointly private commercial disputes arising from such free trades by the initiative of arbitral organizations among the member countries. It is called Commercial Arbitration and Mediation Center for the Americas(CAMCA), which may be a good example for the settlement promotion of the private commercial disputes between Korea and other relevant countries.