• The Korean Journal of Air & Space Law and Policy
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• v.23 no.2
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• pp.3-29
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• 2008

The volume of air passengers and cargo transportation has increased rapidly in recent years. This trend will be even more noticeable as the high-tech service industry expands and the globalization progresses. In an effort to reflect and to cope with this trend, many conventions concerning international air transportation have been concluded. The Republic of Korea has also acceded to the Montreal Convention of 1999 on September 20th, 2007 which became effective on December 29th 2007. However, Korea currently does not provide any private law on the liability of domestic air carrier, leaving the regulation wholly to the general conditions of carriage of private air lines. These general conditions of carriage, however, are not sufficient to regulate the liabilities of domestic air carriers, because they cannot be fully recognized as a legitimate source of law applicable in the court. This situation is inconvenient for both air carrier and their customers. Thus, the Ministry of Justice of Korea has decided to enact a law that will regulate domestic air transportation, namely, "Domestic Carriage by Air Act", as a part of the Korean Commercial Code. So was composed a special committee for legislation of the Domestic Carriage by Air Act. This writer has led the committee as a chairman. The committee has held in total 10 meetings so far and has completed a draft bill for the part VI of the Korean Commercial Code, "Air Carriage." The essentials of the draft are as follows: First, the establishment of Part VI in the Commercial Code. The Korean Commercial Code already includes a series of provisions on road transportation in part II and carriage by sea in part V. In addition to these rules regulating different types of transportation, the Domestic Carriage by Air Act will newly establish part VI to regulate air carriages. Eventually, the Commercial Code will provide an integrated legal system on the transportation industry. Second, the acceptance of the basic liability system which major international conventions, such as Montreal Convention of 1999 and Guadalajara Convention of 1961, have adopted. This is very important, because the law of air carriage is unified worldwide through various international conventions, making it necessary and significant for the new act to achieve conformity between rules of international air carriage and that of domestic air carriage. Third, the acceptance of Rome Convention system on damage caused by foreign aircraft to third parties on the surface. Fourth, the application of rules on domestic road carriage or carriage by sea mutatis mutandis with necessary modifications. This very point is the merit of inserting domestic air transportation law into the Commercial Code. By doing so, the number of articles can be reduced and the rules on air carriage can conform to that of road transportation and carriage by sea. The bill is expected to be passed by the parliament at the end of this year and is expected to be effective by end of July 2009.

• The Korean Journal of Air & Space Law and Policy
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• v.25 no.1
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• pp.97-158
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• 2010

The purpose of this paper is to research on the contents and improvement of national legislations relating to space development in Korea to make the sustainable progress of space development project in Korea. Korea has launched its first satellite KITST-1 in 1992. The National Space Committee has established "The Space Development Promotion Basic Plan" in 2007. The plan addressed the development of total 13 satellites by 2010 and the space launch vehicle by 2020, and the launch of moon exploration spaceship by 2021. Korea has built the space center at Oinarodo, Goheng Province in June 2009. In Korea the first small launch vehicle KSLV-1 was launched at the Naro Space Center in August 2009, and its second launch was made in June 2010. The United Nations has adopted five treaties relating to the development of outer space as follows : The Outer Space Treaty of 1967, the Rescue and Return Agreement of 1968, the Liability Convention of 1972, the Registration Convention of 1974, and the Moon Treaty of 1979. All five treaties has come into force. Korea has ratified the Outer Space Treaty, the Rescue and Return Agreement, the Liability Convention and the Registration Convention excepting the Moon Treaty. Most of development countries have enacted the national legislation relating to the development of our space as follows : The National Aeronautic and Space Act of 1958 and the Commercial Space Act of 1998 in the United States, Outer Space Act of 1986 in England, Establishment Act of National Space Center of 1961 in France, Canadian Space Agency Act of 1990 in Canada, Space Basic Act of 2008 in Japan, and Law on Space Activity of 1993 in Russia. There are currently three national legislations relating to space development in Korea as follows : Aerospace Industry Development Promotion Act of 1987, Outer Space Development Promotion Act of 2005, Outer Space Damage Compensation Act of 2008. The Ministry of Knowledge Economy of Korea has announced the Full Amendment Draft of Aerospace Industry Development Promotion Act in December 2009, and it's main contents are as follows : (1) Changing the title of Act into Aerospace Industry Promotion Act, (2) Newly regulating the definition of air flight test place, etc., (3) Establishment of aerospace industry basic plan, establishment of aerospace industry committee, (4) Project for promoting aerospace industry, (5) Exploration development, international joint development, (6) Cooperative research development, (7) Mutual benefit project, (8) Project for furthering basis of aerospace industry, (9) Activating cluster of aerospace industry, (10) Designation of air flight test place, etc., (11) Abolishing the designation and assistance of specific enterprise, (12) Abolishing the inspection of performance and quality. The Outer Space Development Promotion Act should be revised with regard to the following matters : (1) Overlapping problem in legal system between the Outer Space Development Promotion Act and the Aerospace industry Development promotion Act, (2) Distribution and adjustment problem of the national research development budget for space development between National Space Committee and National Science Technology Committee, (3) Consideration and preservation of environment in space development, (4) Taking the legal action and maintaining the legal system for policy and regulation relating to space development. The Outer Space Damage Compensation Act should be revised with regard to the following matters : (1) Definition of space damage and indirect damage, (2) Currency unit of limit of compensation liability, (3) Joint liability and compensation claim right of launching person of space object, (4) Establishment of Space Damage Compensation Council. In Korea, it will be possible to make a space tourism in 2013, and it is planned to introduce and operate a manned spaceship in 2013. Therefore, it is necessary to develop the policy relating to the promotion of commercial space transportation industry. Also it is necessary to make the proper maintenance of the current Aviation Law and space development-related laws and regulations for the promotion of space transportation industry in Korea.

• Journal of Environmental Policy
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• v.3 no.1
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• pp.1-29
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• 2004

The role of the financial institution to promote corporate sustainability may be reviewed in two angles, as a commercial lender and an investor. As a commercial lender, financial institutions should minimize the legal risks and the political risks. Financial institutions began to recognize environmental risks as legal risks that directly affect their lending practices since the legislation of the Comprehensive Environmental Response, Compensation, and Liability Act("Superfund") of the U.S.A. The so-called lender liability rule has a detailed guideline where the financial institutions may be exempted from the Superfund Liability. Similar attempts are noticed in the recent EU White Paper on Environmental Liability. In Korea, comprehensive environmental liability laws are yet to be developed. The Soil Environment Preservation Act now includes a far-reaching environmental liability provisions, where the owners and operators as well as receivers of the facility bear responsibility. However, whether the financial institutions may be captured as a potential responsible party is not very clear. Until the relevant legislation is developed and court decisions accumulate, Korean financial institutions are well advised to raise awareness on this issue, to develop environmental policies and to train personnels.

• Journal of Arbitration Studies
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• v.17 no.1
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• pp.117-136
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• 2007

Currently, it is the general trend that the party's autonomy principle is applicable in determining the applicable law for the international private law and the international commercial arbitration. The purpose of this article is to make research on the party's autonomy principle for the international commercial arbitral awards. For this purpose ist to analyse regal issue the applicability of the lex mercatoria and the possibility of $d\acute{e}pe\c{c}age$ relating to the party autonomy. In this Article ist dealt with Art. 29 para. 1 of the Korean Arbitration Act in comparison with Art. 28 para. 1 UNCITRAL Model Law and Art. 1051 para. 1 of the German Code of Civil Procedure. The Art. 28 para. 1 UNCITRAL Model Law and Art. 1051 para. 1 of the German Code of Civil Procedure provides equally. "The arbitral tribunal shall decide the dispute in accordence with such 'rules of law' as chosen by the parties as applicable to the substance of the dispute. Any designation of the law or legal system of a given State shall be construed, unless otherwise expressed, as directly referring to the substantive law of that State and not to its conflict of laws rules." The term 'rule of law' used to describe the applicability of the lex mercatoria and the possibility $d\acute{e}pe\c{c}age$. Unlike Art. 28 para. 1 UNCITRAL Model Law and Art. 1051 para.1 of the German Code of Civil Procedure. Act, Art. 29(1) of the Korean Arbitration Act provides that the arbitral tribunal shall decide the dispute in accordence with the 'law' chosen by the parties as applicable to the substance of the dispute. However the majority view in Korea takes the position that the term 'law' should be interpreted broadly so as to encompass 'rules of law' at UNCITRAL Model Law and the German Code of Civil Procedure.

• Journal of Arbitration Studies
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• v.20 no.2
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• pp.27-47
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• 2010

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, arbitration, instead of litigation in national courts, has become the preferred means of resolving private international commercial disputes. Under the situation, it will be important thing for arbitral institutions to reach an agreement to promote the dispute settlement of the commercial disputes, for which efforts have been made between the Korean Commercial Arbitral Board(KCAB) and principal arbitration institutions of the foreign countries. Since 1973, the KCAB has entered into many arbitration agreements with well-known foreign institutions of arbitration. If the place of arbitration is not so designated by the parties, it, as a general rule, shall be the country of the respondent(s) under the Korea-Japanese Arbitration Agreement. On the other hand, the U.S.-Korean Commercial Arbitration Agreement maintains 'Joint Arbitration Committee which finally decide the place of arbitration. In 1996, the Korea-Austria Agreement of Cooperation was concluded for the prompt and equitable settlement on an amicable basis of commercial disputes. Under this Agreement, arbitral institutions between Korea and Austria agreed to act as an appointing authority in accordance with the UNCITRAL Arbitration Rules. It is also very important for Korea and China including North Korea to cooperate each other for the settlement of the commercial disputes within the Pan Yellow Sea Economic Bloc(PYSEB). The PYSEB is quickly becoming a distinctive and crucial region in the world sharing 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. Finally, it should be considered to establish a central common system for settlement promotion of the commercial disputes within the PYSEB through the arbitration agreement. Such a dispute resolution system was already introduced and established within the area of the NAFTA, and it is called the Commercial Arbitration and Mediation Center for the Americas(CAMCA).

• Journal of Arbitration Studies
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• v.27 no.3
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• pp.53-76
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• 2017

Korean businesses, and their legal representatives, have observed the improvements of enforcement of commercial judgments through arbitration over traditional collections litigation in U.S. Courts-due to quicker proceedings, exceptional cost savings and more predictable outcomes-in attaching assets within U.S. jurisdictions. But how are the 2016 interim measures implemented by the Arbitration Act of Korea utilized to avoid jurisdictional and procedure pitfalls of enforcement proceedings in the Federal Courts of the United States? Authors examine the necessary prerequisites of the U.S. Federal Arbitration Act as adopted through the New York Convention, to which Korea and the U.S. are signatories, as distinguished from the Panama Convention. Five common U.S. arbitration institutions address U.S. "domestic" disputes, preempting U.S. state law arbitrations, while this article focuses on U.S. enforcement of "international" arbitration awards. Seeking U.S. recognition and enforcement of Korean arbitral awards necessitates avoiding common defenses involving due process, public policy or documentary formality challenges. Provisional and conservatory injunctive relief measures are explored. A variety of U.S. cases involving Korean litigants are examined to illustrate the legal challenges involving non?domestic arbitral awards, foreign arbitral awards and injunctive relief. Suggestions aimed toward further research are focused on typical Korean business needs such as motions to confirm foreign arbitration awards, enforce such awards or motions to compel arbitration.

• Journal of Fisheries and Marine Sciences Education
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• v.22 no.2
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• pp.245-258
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• 2010

South and North Korean fisheries cooperation has not been attained since 1950's political situation, and the major fishery resources of Korean peninsula also has not been cooperatively managed by South and North Korea. Furthermore, the species inhabiting the Korean peninsula region with commercial value are usually maintaining the single ecosystem which requires for cooperative management of fishery resources for continuous fishery. Therefore, in order for South and Korean fishery industry to develop the political situation to a rational direction, present condition of North's fishery industry must be accurately understood and acknowledge in its point of issues, also as level to prepare for future unification, reform and reaction of long-termed and well organized South and North's fisheries program must be arranged.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.15
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• pp.211-238
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• 2001

This article discusses and analyses several issues regarding to the Electronic Signature and the Electronic Certification. The objects of the analyse are the each paragraphs of the Korean Electronic Signature Act of 1999 and that of the Korean Electronic Transaction Basic Act of 1999 in comparing to the paragraphs of the Electronic Signatures in Global and National Commerce Act' (E-Sign) of 2000, U.S.A. and that of the Draft UNCITRAL Model Law on Electronic Signature of 2000. The main issues discussed herein are the scope of the electronic signature, the definition of the electronic signature, permission of services to the non-authorized certification service providers, the effect of the electronic signature, the liability of the concerning parties of the electronic signature including liability of the certification service providers, that of the subscribers and that of the relying parties. This paper also discusses the problems of the possibility of issuing the electronic negotiable commercial papers, the validity of the electronic signatures done by electronic agents, the authority certificate, mutual certification of the foreign certification service providers, the permission of the electronic notary service, the problems of the consumer protection and the possibility of issuing electronic insurance policy, etc. The writer concludes by suggesting some measures that will activate the use of electronic signatures under the korean circumstances.

• Journal of Arbitration Studies
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• v.30 no.1
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• pp.3-37
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• 2020

The Korean Arbitration Act (KAA) enacted in 1966 was entirely revised in 1999, adopting the 1985 UNCITRAL Model Law on International Commercial Arbitration. Korea is trying to be an international arbitration hub in the region, taking advantage of its geographical location in Asia and its highly open economy. KAA was revised in 2016 again in order to reflect the criticisms against the previous KAA, changes in the arbitration environment, and the 2006 amendment to the UNCITRAL Model Law. The basic direction of the revision was to maintain the UNCITRAL Model Law system and to deal with the national arbitration and international arbitration in the same framework. The scope of revision covers all fields of arbitration, including arbitration agreements, arbitrators, arbitral proceedings, interim measures of the arbitral tribunals, recognition/enforcement of arbitral awards, and their annulment. This paper aims to introduce the important issues of the 2016 revision of KAA, to offer important information discussed in the process of revision, and thus to help those concerned in the interpretation and implementation of KAA. The 2016 revision of KAA is expected to help greatly in promoting not only the national arbitration, but also the international arbitration in Korea.

• Journal of Arbitration Studies
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• v.29 no.1
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• pp.31-52
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• 2019

As international transactions have grown more numerous, situations of disputes related to the transactions are getting more complicated and more diverse. Cost-effective remedies to settle the disputes through traditional methods such as adjudications of a court will be insufficient. There fore, nations are attempting to more efficiently solve investor-state disputes through arbitration under organizations such as the ICSID Convention, the ICSID Additionary Facility Rules, and the UNCITRAL Arbitration Rules by including the provisions on investor-state dispute settlement at the conclusion of an investment agreement. In case of an arbitration under the ICSID Convention, ICSID directly exercises the supervisorial function on arbitral proceedings, and there is no room for the intervention of national courts. In time of the arbitration where the ICSID Convention does not apply, however, the courts have to facilitate the arbitral proceedings. When the recognition and enforcement of an arbitral award under the ICSID Convention are guaranteed by the Convention, it should be considered that the New York Convention does not apply to them under the Convention Article 7 (1) fore-end. In exceptional cases in which an arbitral award under the ICSID Convention cannot be recognized or enforced by the Convention, the New York Convention applies to the recognition and enforcement because the award is not a domestic award of the country in which the recognition or enforcement is sought. It is up to an interpretation of the New York Convention whether the New York Convention applies to ISDS arbitral awards not based on the ICSID Convention or not. Although an act of the host country is about sovereign activities, a host country and the country an investor is in concurring to the investment agreement with the ISDS provisions is considered a surrender of sovereignty immunity, and it will not suffice to exclude the investment disputes from the scope of application of the New York Convention. If the party to the investment agreement has declared commercial reservation at its accession into the New York Convention, it should be viewed that the Convention applies to the recognition and enforcement of the ISDS awards to settle the disputes over an investitive act, inasmuch as the act will be considered as a commercial transaction. When the recognition and enforcement of an arbitral award on investment disputes about a nation's sovereign act have been sought in Korea and Korea has been designated the place of the investment agreement arbitration as a third country, it should be reviewed whether the disputes receive arbitrability under the Korean Arbitration Act or not.