• Journal of Arbitration Studies
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• v.26 no.2
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• pp.91-114
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• 2016

The purpose of this study is to promote trade between Korea and South American countries. Korea's trade with South America has decreased recently. This study analyzed the effects of arbitration on trade between Korea and South America. To this end, we conducted an analysis of the gravity model of trade between Korea and South America. The gravity model is a research method that is widely used to analyze the pattern of international trade. The dependent variables of the gravity model were trade in Korea and South America. The independent variables were GDP, population, and distance between Korea and South America. In addition, dummy variables were the FTA and whether to join the New York Convention or Washington Convention. Joining either Convention indicated the establishment of an international arbitration system. As a result, an arbitration system appeared to be effective in increasing trade. Depending on the results it shows the importance of utilizing the system of arbitration in South America. So this study analyzed the current status of arbitration in South America. To companies doing business in South America it provided the implications for an arbitration system there. Also it proposed a method for increasing trade for the Korean government and institutions.

• Journal of Arbitration Studies
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• v.15 no.2
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• pp.197-224
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• 2005

The purpose of this paper is to make research on the party's autonomy principle and the applicable law to the arbitration agreement, the applicable law to the validity of the arbitration agreement, the applicable law to the arbitrability of the arbitration agreement, the applicable law to the contracting ability of the arbitration agreement, and the applicable law to the method of the arbitration agreement. If no choice of law is made by the parties with respect to the arbitration agreement-which is the stand situation-the validity of the agreement may have to decided under its proper law, or under the law of the place of arbitration, or the law of the place of enforcement. If the subject matter is not arbitrable, the arbitration agreement remains without effect. The rules determining arbitrability may differ from one country to another, from one legal system to another. If a party is lacking capacity to enter into an arbitration agreement, the recognition and enforcement of the arbitral award may be refused at the request of the party against whom it is invoked. This principle is laid down in the New Yark Convention on the Recognition and Enforcement of Foreign Arbitral Awards. The validity of an arbitration agreement sometimes also depends on the form in which it is made. Article II. 2 of the New York Convention states that the term 'agreement in writing' shall include an arbitral clause in a contract or an arbitration agreement, signed by the parties of contained in exchange of letters or telegrams.

• Journal of Arbitration Studies
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• v.11 no.1
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• pp.181-215
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• 2001

The thirty-fourth session of UNCITRAL Working Group on Arbitration was held in New York. Among the topics discussed at the session, many delegations agreed to reform the article 7 of the UNCITRAL Model Law on International Commercial Arbitration in light of the development of electronic commerce. As for the article 2(2) of the New York Convention, it was agreed to reflect the changes of the article 7 not in the form of a treaty amendment but in the form of an interpretative statement. The topic as to provisional measures has been found so difficult to reach an agreement that most of its texts submitted by the secretariat were left untouched for the lack of time. However, most provisions of the legislative texts on conciliation were dealt with by delegations. The next session is to be held in Vienna. While the Korean Arbitration Act of 1966 was fully amended in 1999, it seems interesting to look at the development in which the arbitration community of the world has already begun discussing the new dimension of the law and practice of international commercial arbitration. It may be considered early to start a new project of reforming the Korean Arbitration Act at this time when only three years passed after it was fully amended. It is, however, worthwhile to remember that some progressive efforts were aborted in amending the Arbitration Act of 1966. One of them is about the same issue on the insertion of some provisions on the enforcement of interim measures of protection to which the priority is given by the Working Group. It seems fair to say that it would not be dangerous to follow the developments and to adapt ourselves to such trends shown in the session. In Korea, the words “arbitration” and “conciliation” are misleadingly interchanged although these two words should be differentiated from each other in the sense of third-party binding decision. It is self-evident from the Korean Arbitration Act and judicial decisions that arbitral awards bind the disputing parties and are to be treated as final judgements by the competent courts. It is, however, not uncommon to find that the word “arbitration” is misinterpreted as having the same meaning of the word “conciliation”. One of the reasons for the confusion is that many legislations in Korea provide for conciliation as having the meaning of arbitration and vice versa. It may be probable that the proposed legislative texts on conciliation could be a kind of useful method to prevent such confusion from being uncontrollable. It is, therefore, necessary that the legislative texts should be introduced into Korea as a legislation on conciliation.

• Journal of Arbitration Studies
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• v.18 no.3
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• pp.3-22
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• 2008

The purpose of this article is to make research on the meaning and function of the place of arbitration for, the international commercial arbitration. For this purpose is to analyse regal issue the meaning and function of the place of arbitration on the international commercial arbitration relating to the arbitration law and the recognition and enforcement of foreign arbitral awards. In this Article is dealt with Art. 2 para. 1 of the Korean Arbitration Act(KAA). The KAA corresponds with the connection to the place of arbitration, the internationally prevailing 'the principle of territoriality'. The place of arbitration is therefore great practical relevance, as there is not only the existing legal supplements on the arbitration procedure applies, but also in the state courts rule for the support and control of the tribunal are responsible. In this context, this article first intends the importance of the place of arbitration for determination of the applicable procedural law. Secondly, this article intends the importance of the place of arbitration for the recognition and enforcement of foreign arbitral awards under "the United Nations Convention on the Recognition and Enforcement of Foreign Arbitral Awards(New York Convention)". In conclusion, this article stresses, that the place of arbitration setting under Article 21 para. 1 KAA determine not only the applicable arbitration law, but also the jurisdiction of state courts in lawsuit for repeal of arbitration and qualification as a domestic or foreign arbitration award.

• 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.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.32
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• pp.59-91
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• 2006

The Arbitration Act of Korea was promulgated in 1966. Since the promulgation of Arbitration Act of Korea, consecutive amendments took place in 1973, 1993, 1997, 1999, 2001 and 2002. Among the various set of amendments, those of 1999 were designed to accommodate the UNCITRAL Model Law on international Commercial Arbitration of 1985. Korea has acceded to special international conventions on dispute settlement such as the New York Convention of 1958 and the Washington Convention of 1965. The Korean Commercial Arbitration Board(KCAB) administers the arbitration proceedings in accordance with its Arbitration Rules approved by the Korean Supreme Court. Since the establishment of the first Arbitration Rules in 1966. consecutive amendments took place in 1973, 1981, 1989, 1993, 1996, 2000 and 2004. The KCAB plans to enact the International Arbitration Rules, which will be available to disputing parties in addition to the KCAB Arbitration Rules. In 2005, arbitration applications received at KCAB recorded a historic high at 213 cases, an increase of 22% from 175 cases in 2000. But in 2005, the total amount involved in the arbitration cases decreases to US$ 129 million, a decline of 63% from US$ 346 million in 2000. The KCAB should take the following measures for activating the commercial arbitration system: the globalization of KCAB, the advertisement of arbitration system, the security of qualified arbitrators, and the enhancement of the secretariat service. In conclusion, the KCAB should make efforts for the development of the arbitration system and for the upgrade of customer satisfaction. Moreover the KCAB should make further efforts to grow into a global arbitration institution as well as strengthening relations with international arbitration institutions.

• Journal of Arbitration Studies
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• v.27 no.4
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• pp.91-113
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• 2017

UN Convention on International Sale of Goods (CISG) and International Commercial Arbitration aim at the promotion and facilitation of international trade. Both of them share similar general principles; i.e., party autonomy and pacta sunt servanda. Also they are often applied concurrently in the case of the international commercial trade. The purpose of this article is to investigate whether the CISG could apply the formation of the arbitration clause that is included in the main contract governed by CISG. Sellers and buyers have freedom of designating choice of law that is applied to their contracts. An international arbitration agreement is presumed to be separable from the contract in which it is found. However, arbitration clauses commonly form part of a general contract. Thus, the CISG is intended to be applied to dispute resolution clauses, including arbitration clause even if it is not completely suitable. Notably, there is a fundamental distinction between the CISG and arbitration. The CISG abolished the formalities of contract. New York convention requires Contracting States' Courts to enforce written international agreements to arbitrate.

• Journal of Arbitration Studies
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• v.25 no.3
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• pp.33-58
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• 2015

Arbitration clauses or institutional arbitration rules rarely, if ever, specify the law applicable to the arbitration agreement. A wide range of laws may thus govern this question, such as the law at the place of arbitration, the law where the agreement or the award is enforced or the law of the main contract between the parties. It is also conceivable that international uniform law or soft law may play a role. Tribunals and courts seized with this question must consequently decide which of these various laws shall apply to verify the existence and validity of the arbitration agreement. This paper picks up on this controversially debated conflict of laws issue. At times, this debate is characterized by a strong divide between arbitration and international trade law practitioners. But are the different approaches really leading to diverging results in arbitral practice?

• Journal of Arbitration Studies
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• v.13 no.2
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• pp.103-122
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• 2004

Recognition and enforcement of the arbitral award play an important role in the settlement of the international commercial disputes. The New York Convention makes it a duty for the courts of signatories to recognize and enforce the foreign arbitral awards not taking the nationality of the party concerned into consideration. Recognition and enforcement of the arbitral award may be refused if the award has not yet become binding on the parties, or has been set aside or suspended by a competent authority of the country in which, or under the law of which, that award was made. The arbitral award has the same force as an irrevocable judgement including effect of excluding further litigation, its execution and formation. But the effect of set aside arbitral award made abroad in arbitral place was denied by France court for the interest of his people. There is no arbitral act but arbitral procedure is regulated by New Code of Civil Procedure in case of France. An appeal against the decision which grants recognition or enforcement is open if the recognition or execution is contrary to international pubic policy in virtue of Art. 1502. Arbitrator may consider compulsory provisions in arbitral place to assure to recognition and enforcement of the arbitral award.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.31
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• pp.107-134
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• 2006

Enforcement of an arbitration award is an extremely important issue in arbitration. Arbitration, as a dispute settlement process, is rendered meaningless if it is not possible to enforce an award rendered by an arbitration tribunal. On the other hand, the present international arbitration system guided by the New York Convention and UNCITRAL Model Law is established on the dual supervision from the national courts. The nationality of the international arbitral award closely relates to the supervision of the national court, and the national court is entitled to decide the nationality of the international award in accordance with the conditions set in its own domestic law. The national court may set aside arbitral award made in its territory while the foreign court may refuge enforcement of foreign arbitral awards according to its own law and international convention to which it is a party. The conditions set in the Arbitration Law of the People's Republic of China are in agreement with those set in the UNCITRAL Model Law. The Chinese national court is entitled to set aside international awards made in China in accordance with the Chinese Law. The purpose of this paper is to clarify the Chinesr practice on the revocation of international commercial arbitral awards.