• Korea Trade Review
• /
• v.46 no.5
• /
• pp.13-30
• /
• 2021

The government of Vladimir Putin, which has been ruling Russia for a long period since 2000, has recently strived for the balanced development of underdeveloped regions and sustainable economic growth. Therefore, along with energy development in the Far East and Siberian regions, the government is promoting development projects on logistics and distribution infrastructure. It is also expanding the construction of innovative districts to develop cutting-edge technologies in the outskirts of Moscow. Amid these moves, South Korea is pushing for the New Northern Policy aimed at widening economic cooperation with European and North Asian countries to expand the scope and influence of the country's trade market. The previous year of 2020, marked the 30th anniversary of establishment of diplomatic relations between South Korea and Russia. In this context, this study was initiated to propose various measures for promoting economic cooperation and expanding trade between South Korea and Russia. Therefore, this study examined Russia's political and economic environment and explored its major industrial environment with a focus on the energy industry, innovative districts and infra facility. The study also examined the progress of a FTA between the Eurasian Economic Union, in which Russia currently takes the lead, and South Korea and recommended several measures to upgrade and accelerate economic cooperation between the two countries through research on a range of topics.

• Journal of Arbitration Studies
• /
• v.16 no.2
• /
• pp.3-49
• /
• 2006

The purpose of this paper is to make research on the settlement mechanism of the commercial disputes between the South and the North of Korea. Also, this paper is to make research on the south-north Korea's cooperative tasks to promote the disputes settlement, including the operation and management of the South-North Arbitration Commission as well as the enactment of the South-North Arbitration Rules. To realize the spirit of the South-North Joint Declaration of June 15, 2000, the Authorities concerned of the South and the North of Korea have reached an agreement titled 'Agreement on Settlement Procedure of Commercial Disputes' on December of the same year. As the follow-up measures of the said Agreement, the South-North Authorities have signed an another agreement called 'Agreement on Organization and Administration of the South-North Arbitration Commission' on October, 2003, which is becoming vital importance for settlement of the commercial disputes between south and north Korea including the Gaeseong Industrial Complex. Gaeseong, a city surrounded by the North Korean military and a symbol of inter-Korean tensions, is now turning into a peace zone where thousands of North and South Koreans are working side by side. The Gaeseong Industrial Complex project, driven by the logic and economic necessity of cooperation, has been steadily moving forward since the North designated it as a special economic zone and has enacted related laws and regulations for its development. Under the situation, the matter of primary concern is how to organize and conduct the Arbitration Commission for the prompt and effective settlement of the south-north commercial disputes. First of all, the South-North Authorities should recognize that the availability of prompt, effective and economical means of dispute resolution such as arbitration and mediation to be made by the Arbitration Commission would promote the orderly growth and encouragement of the south-north trade and investment. In this connection, the Korean Commercial Arbitration Board(KCAB) should be designated as the arbitral institution of the south Korean side under the Agreement on Organization and Administration of the South-North Arbitration Commission. The KCAB is the only authorized arbitral organization in South Korea to settle all kinds of commercial disputes at home and abroad.

• KDI Journal of Economic Policy
• /
• v.13 no.4
• /
• pp.155-177
• /
• 1991

The promotion of economic exchange and cooperation between North and South Korea is significant in two ways. First, the pursuit of economic interest can lead gradually to the unification of the national economies. Second, economic relations can serve as the first stride toward political reunification. There are, however, many difficulties in conceiving a strategy for economic cooperation between North and South Korea because of their differences in ideology and socio-economic system. Under these circumstances, a bid by either the North or the South to consider its specific ideology or socio-economic system absolute and to impose them on the other side would inevitably lead to confrontation and collision and deepen the division of the country. Therefore, steps to expand and develop economic and technological cooperation and comprehensive exchanges between the North and the South, with due regard to the development of bilateral relations, are in full accord with the interests of the both sides. It is clear that North Korea's changing attitude toward its environmental conditions is neither a policy of opening nor an ideological shift toward pragmatism, as has occurred in the Eastern European countries. Instead, it is a temporary tactic for breaking out of the economic stagnation caused by its rigid economic structure. In this light, we must.

• The Journal of Industrial Distribution & Business
• /
• v.2 no.1
• /
• pp.29-37
• /
• 2011

It remains that South and North Korea are the most conflict ridden region of the world and at high risk of military collision despite the appropriateness and necessity of unification between South and North Korea. Meanwhile, our government has pushed ahead with exchange between the two countries in many different fields to defuse this conflict and tension. But, these efforts have made it less meaningful as South-North relations are strained again. This can be because temporary recovery of political relation didn't proceed to system improvement and economic cooperation. This study on exchange cooperation of circulation · distribution between South and North Korea begins with expectation that this study will be based on realizing free circulation · distribution for the unification and making an economic bloc through exchange cooperation of circulation · distribution. To expand economy exchange and cooperation between the two nations, the field of circulation · distribution should be developed. On the basis of this discussion, this study suggests that cooperation relation and the mood of reconciliation created by political declaration are institutionalized in the national consensus and exchange should be expanded in the economic field as well as political field.

• Journal of Arbitration Studies
• /
• v.29 no.2
• /
• pp.3-34
• /
• 2019

The resumption of economic cooperation between South and the North Korea will be a new growth engine for our economy. Many Korean companies are preparing to invest in North Korea in accordance with the progress of inter-Korean relations. However, there are many risks inherent in inter-Korean economic cooperation, as experienced in previous cases. Specifically, one should be prepared for unfair measures such as the expropriation of investment assets of South Korean enterprises by North Korea authorities. Therefore, it is essential to review the protection measures of investment in North Korea and to review the investment dispute settlement system. The South and the North have an agreement to establish the inter-Korean Commercial Arbitration Committee to resolve the disputes that may arise if one party's investments are lost due to inappropriate or unfair measures due to the other party's authority. However, the Investment Agreement, which governs the Inter-Korean Commercial Arbitration Committee, contains a number of declarative statements that are somewhat ineffective. Even today, nearly 20 years after the adoption of the Agreement, the specific detailed procedures have shown no real progress, such as in the enactment of arbitration rules. Therefore, at present, it is difficult to expect a system that can effectively address the damage of our corporations which have invested in North Korea. When the assets freeze after the suspension of Kumgang tourism and the closure of the Kaeseung Industrial Complex by North Korea, the activation of the inter-Korean Commercial Arbitration Committee is the most important prerequisite for economic cooperation with North Korea. For this purpose, the resolution of disputes through the Inter-Korean Commercial Arbitration Committee has to be made more concrete, with the effectiveness of the dispute settlement system enhanced by means of various efforts.

• Journal of Arbitration Studies
• /
• v.21 no.1
• /
• pp.259-277
• /
• 2011

In 2008, North Korea revised its Foreign Economic Arbitration Act. To some extent, the new Act reflected such international standard of arbitration as UNCITRAL Arbitration Rules. In this paper, the said Act will be evaluated, and then cooperation ways of South-North Korea on Inter-Korean Commercial Arbitration will be suggested. In 2007, the Ministry of Unification has designated the Korean Commercial Arbitration Board as Inter-Korean Arbitration Committee and has made efforts to prepare follow-up measures on the two Agreements of Inter-Korean Commercial Arbitration. In 2008 however, the follow-up measures has in fact been suspended. In order to revitalize the Inter-Korean commercial arbitration, some prerequisites must be satisfied. First, Inter-Korean Arbitration Committee for Inter-Korean commercial arbitration should re-open as soon as possible. Second, as North Korea recently shows interest in joining the New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards(now so called New York Convention), Governmental Authority of Rep. of Korea should also actively assist and support their joining in New York Convention. Third, both Korean governments should carry out joint study on raising the efficiency of the arbitration system which they will use. Fourth, comparative study on arbitration systems used in both countries should be conducted. Also, it may is very timely to discuss the issue in international arbitration community such as "North-East Asia International Arbitration Conference" or other similar events. In conclusion, continuous study on prevention of commercial disputes between South-North Korea and ways to resolve disputes when they arise should be conducted.

• Journal of Labour Economics
• /
• v.17 no.2
• /
• pp.357-368
• /
• 1995

• Journal of Arbitration Studies
• /
• v.30 no.2
• /
• pp.91-120
• /
• 2020

The Scope of Application of North Korea's Foreign Economic Arbitration Act and Foreign Investment Act This article examines whether the Foreign Economic Arbitration Act and the Foreign Investment Act of North Korea apply to South Korean parties or companies. This article analyzes laws and agreements related to economic cooperation between South Korea and North Korea. Furthermore, this article compares and evaluates laws related to foreign investment and enacted in North Korea. Now, North Korea's door is closed due to economic sanctions against it, but it will be opened soon. Thus, this article prepares for the future opening of North Korea's markets. Is there a rule of laws in North Korea or just a ruler? Are there laws in North Korea? North Korea has enacted a number of legislation to attract foreign investors, referring to those Chinese laws. For example, North Korea enacted the Foreigner Investment Act, the Foreigner Company Act, the Foreign Investment Bank Act, the Foreign Economic Arbitration Act, the Foreign Economic Contract Act, the International Trade Act, and the Free Economy and Trade Zone Act, among others. Article 2 (2) of the Foreign Investment Law of North Korea states, "Foreign investors are corporations and individuals from other countries investing in our country." It is interpreted that South Korea is not included in the "other countries" of this definition. According to many mutual agreements signed by South Korea and North Korea, the relationship between the two Koreas is a special relation inside the Korean ethnic group. An arbitration between a South Korean party and a North Korean party has the characteristics of both domestic arbitrations and international arbitrations. If the South Korea and North Korea Commercial Arbitration Commission or the Kaesong Industrial Complex Arbitration Commission is not established, the possibility of arbitration by the Chosun International Trade Arbitration Commission, established under North Korea's Foreign Economic Arbitration Act, should be examined. There have been no cases where the Foreign Economic Arbitration Act is applied to disputes between parties of South Korea and North Korea. It might be possible to apply the Foreign Economic Arbitration Act by recognizing the "foreign factor" of a dispute between the South Korean party and North Korean party. It is necessary to raise legislative clarifications by revising the North Korea's Foreign Economic Arbitration Act as to whether Korean parties or companies are included in the scope of this Act's application. Even if it is interpreted that South Korean parties or companies are not included in the scope of North Korea's Foreign Economic Arbitration Act, disputes between South Korean companies and North Korean companies can be resolved by foreign arbitration institutes such as CIETAC in China, HKIAC in Hong Kong, or SIAC in Singapore. Such arbitration awards could be enforced in North Korea pursuant to Article 64 of North Korea's Foreign Economic Arbitration Act. This is because the arbitration awards of foreign arbitration institutes are included in the scope of North Korea's Foreign Economic Arbitration Act. The matter is how to enforce the North Korean laws when a North Korean party or North Korean government does not abide by the laws or their contracts. It is essential for North Korea to join the New York Convention (Convention on the Recognition and Enforcement of Foreign Arbitral Awards) and the ICSID Convention (Convention on the Settlement of Investment Disputes Between States and Nationals of Other States).

• The Journal of Fisheries Business Administration
• /
• v.24 no.1
• /
• pp.1-27
• /
• 1993

The purpose of this paper is to suggest issues of South and North Korea's common fisheries policy that is expected to be realized in the process of economic integration between the two countries. The paper has shown feasible policy alternatives of fisheries cooperation according to the steps of economic integration between the two countries. The paper has examined the possibilities and economic effects of several policy alternatives as follows : South Korea's fishing in North Korea's fishing area with fishing fee, limited reciprocal fishing in the opposite countrie's fishing zone, joint, ventures between two countries, and South and Nort Korea's common fisheries policy.

• 사회경제평론
• /
• v.31 no.3
• /
• pp.29-53
• /
• 2018

This study provides a model of inter-Korean economic cooperation suggesting that economic cooperation should be centered on industrial cooperation. As an independent economic zone, the two Koreas will go through a gradual and functional process of cooperation. Also, economic convergence through 'openness and integration' of both markets is a pre-requisite of successful economic integration on the Korean peninsula. This success of the process requires industrialization of North Korea. This study suggests a model of 'the Corea Industrial Development Community on the Korean Peninsula. It aims to support industrialization of the North Korean economy as well as promotion of South Korea's SME competitiveness. It would help meet the demand for improvement of living conditions of North Korean people. Main policy measures includes: 1) co-effort to develop North Korea's provincial industrial zones, 2) upgrading North Korea's 'Jangmadang' into a highly efficient distribution market. Finally, through the construction of the Joint Industrial Development Zone, it is necessary to create a production sharing module for both Korea's industries.