• Title/Summary/Keyword: arbitration

Search Result 1,066, Processing Time 0.076 seconds

The Main Contents and Developmental Method of Arbitration Industry Promotion Law (중재산업진흥법의 주요내용과 발전적 운용)

  • Sung, Joon-Ho
    • Journal of Arbitration Studies
    • /
    • v.27 no.4
    • /
    • pp.35-60
    • /
    • 2017
  • Arbitration, a form of alternative dispute resolution (ADR), is a technique for the resolution of disputes outside the courts. Parties often seek to resolve disputes through arbitration because of a number of perceived potential advantages over judicial proceedings: Arbitration is generally faster and more inexpensive (cheaper) than litigation in court. The Republic of Korea enacted the "Arbitration Industry Promotion Act" to develop arbitration. This law provides for the establishment and operation of arbitration institutions, training of arbitration experts, and support of arbitration studies and international exchanges. Effective operation of an arbitration institution has an important influence on the development of arbitration. Neutral and good arbitration experts improve the authority of arbitration. The academic study of arbitration theoretically develops the arbitration procedure. In addition, this paper referred to some additional factors that South Korea should have in order to become an attractive place of arbitration. Neutrality and fairness of the court of arbitration are highly important factors in arbitration. Therefore, the arbitration institution should be operated independently and clearly from the government to ensure neutrality and fairness. The parties of arbitration should also be free and able to defend their interests sufficiently in the arbitration proceedings. Lastly, coordination between this law and other laws is necessary.

Characteristics and Suggestions of Arbitration Act in North Korea (북한의 중재법의 주요 특징과 시사점)

  • Choi, Seok-Beom
    • Journal of Arbitration Studies
    • /
    • v.17 no.3
    • /
    • pp.57-79
    • /
    • 2007
  • 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.

  • PDF

A Study in the Differences between Commercial Arbitration and Investment Treaty Arbitration (상사중재와 투자조약중재에 관한 비교연구)

  • Kim, Sung-Ryong;Ahn, Keon-Hyung
    • Journal of Arbitration Studies
    • /
    • v.24 no.1
    • /
    • pp.59-83
    • /
    • 2014
  • In the past, the mention of "international arbitration" would have brought to mind only commercial arbitration. However, the frequency of investment treaty arbitration has seen remarkable grow thanks to the rise of globalization and the spread of multi-national corporations. Reflecting on the current state of the world, this paper introduces the meaning, characteristics, and differences between commercial arbitration and investment treaty arbitration in the context of procedural considerations. To this end, this paper examines some major procedural differences among the said types of arbitration, by dividing commercial arbitration into institutional arbitration and ad hoc arbitration, and dividing investment treaty arbitration into ICSID arbitration and UNCITRAL Rules arbitration.

  • PDF

A Study on the Changes and Recognition and Enforcement of Foreign Arbitration Awards System in China (중국 중재제도의 새로운 발전과 외국중재판정 승인 및 집행에 관한 연구)

  • Park, Kyu-Yong;Xu, Shi-Jie
    • Journal of Arbitration Studies
    • /
    • v.25 no.2
    • /
    • pp.49-70
    • /
    • 2015
  • There are three categories of arbitration - domestic arbitration, foreign-related arbitration and foreign arbitration. Although the meaning of foreign arbitration and International Commercial Arbitration is different, they are used to mean the same in practice. In fact, there is significant controversy about the meaning of non-domestic arbitration because it is too difficult to distinguish between non-domestic arbitration and domestic arbitration. In the Chinese arbitration system, there are two main laws,Chinese Arbitration Law and Chinese Civil Procedure Law. Chinese Arbitration Law regulates the internal matters, while Chinese Civil Procedure Law regulates the external legal regulations. After the 2012 revised Chinese Civil Procedure Law, a number of laws and regulations have been revised, and almost every Arbitrations Rules have been revised, and will be in effect in 2015. Depending on the nationality of arbitration, the applicable laws will be different. The nationality of arbitration is so important that this paper will pay more attention to it. Although the case in China has no precedent effect, it is so important to the parties that this paper will address it. This paper will analyze the process and the cases of the recognition and enforcement of the award system in China.

Review of the KCAB International Arbitration Rules, Recently Revised, in Comparison with the Revised ICC Arbitration Rules (대한상사중재원 국제중재규칙의 개정 동향 - ICC 중재규칙의 개정과 비교하여 -)

  • Park, Won-Hyung
    • Journal of Arbitration Studies
    • /
    • v.22 no.2
    • /
    • pp.159-176
    • /
    • 2012
  • The Korean Commercial Arbitration Board (KCAB) recently revised its International Arbitration Rules in a way that reflects its efforts to advance its procedures, leading directly to improved competitiveness as an arbitration institute. Apart from certain limitations, the KCAB's international arbitration rule revision introduced several new arbitration mechanisms, including fast-track arbitration and an empowered administrative office. The International Chamber of Commerce (ICC) released a revised set of arbitration rules (ICC Arbitration Rules), which have been said to be probably the most consulted-on arbitration rules ever. Even though the changes codify existing ICC court practice and add to the 1998 rules only provisions felt necessary in light of input from the users of arbitration, some of the changes will have huge implications for future aspects of arbitration mechanisms, especially those of KCAB. Although it remains to be seen what impact the ICC Arbitration Rules will have in practice, the new rules have been well received by the arbitration community and represent a modern set of provisions consistent with the current needs of the users of international arbitration. That is why, here in the Korean arbitration environment, further research is needed on the possibilities of introducing several elements of the revised ICC Arbitration Rules to improve the speed and cost efficiency of international arbitration.

  • PDF

Recent changes to the Korean Arbitration Act and its Comparison with Singapore: Korea's Potential to Become an Arbitration Hub

  • Kim, Jae-Hyun;Hopkins, Bryan E.
    • Journal of Arbitration Studies
    • /
    • v.26 no.3
    • /
    • pp.27-50
    • /
    • 2016
  • International arbitration as a dispute resolution mechanism in Asia is growing in popularity. Singapore has long been acknowledged as a regional arbitration center but Korea is now facing an increased demand as an arbitration center as well. As Singapore competes with Hong Kong and other international arbitration centers, and as Korea tries to become an alternative to Singapore, both Singapore and Korea have updated their arbitral laws and arbitration rules to reflect the current international arbitration trends. This paper examines the recent changes in the arbitration laws of Singapore and Korea, with an emphasis on recent changes in Korean arbitration laws that are designed to increase Korea's popularity as a regional arbitration center. Though Korea's reputation as an arbitration center is increasing, it is still not viewed as a major arbitration service provider. It is against this backdrop that Korea's international arbitration laws and rules will be viewed, with suggested changes to increase Korea's reputation as not only a regional hub but a center of international arbitration.

Arbitration Law of The United States and The Arbitration Agreement (미국중재법과 중재합의)

  • 김연호
    • Journal of Arbitration Studies
    • /
    • v.12 no.2
    • /
    • pp.93-114
    • /
    • 2003
  • The Federal Arbitration Act and the States Arbitration acts of the United States approve that the an arbitration clause should be construed broadly and the Courts interpreted it broadly without being curbed by the written meaning of clause itself. The Courts also divided the interpretation of arbitration clause from the interpretation of other clauses of contract to approve the validity of arbitration clause and further expanded the scope of arbitration. However, the Arbitration Act of Korea does not specify a general principle about how an arbitration clause should be interpreted. The Supreme Court did not have a case yet but the lower courts kept their posture that an arbitration clause should be clear by resulting narrow interpretation and should be written to the extent that it excludes the power of courts from jurisdiction. As a result, there would be cases that arbitration is not permitted although an arbitration clause exists. The parties intending arbitration are frustrated about how to draft an arbitration clause into their agreement. There were the cases that the parties which took the prevailing position attempted to delay dispute resolutions by dragging disputes into litigation even if they agreed to resolve through arbitration, on the basis that an arbitration clause was incomplete. Although the arbitration statutes of the United States cannot apply in Korea, the way of their approaches to the interpretation of arbitration clause can be taken into consideration in view of the globalization of arbitration.

  • PDF

Arbitration in Singapore

  • Mardiani, Henny
    • Journal of Arbitration Studies
    • /
    • v.16 no.3
    • /
    • pp.217-230
    • /
    • 2006
  • Singapore is a dual-track arbitration regime. Where seat of arbitration is Singapore, the governing procedural law for domestic arbitration is AA and for international arbitration is IAA. The parties may by agreement opt-out of and opt-into a specific regime. SIAC is a leading arbitral institution in Singapore. It offers wide range of services: administer arbitration proceedings, arrangement of logistics for arbitration hearing, appointment of arbitral tribunal for ad hoc arbitration in Singapore as well as registry and authentication of arbitral awards.

  • PDF

A Study on Validity of Selective Arbitration Agreement (선택적 중재합의의 유효성에 관한 연구)

  • Kim Kyung-Bae;Shin Koon-Jae
    • Journal of Arbitration Studies
    • /
    • v.15 no.1
    • /
    • pp.147-178
    • /
    • 2005
  • Arbitration agreement is an agreement by the parties to submit to arbitration all or certain dispute which have arisen or which may arise between them. Arbitration agreement is an important factor to judge the existence of the mutual arbitration agreement and it should be the object of examination before anything else to judge the existence of the mutual arbitration agreement. Recently the Supreme Court seemed to make negative position about validity of selective arbitration agreement. However theoretically and scientifically selective arbitration agreement is a valid arbitration agreement. Examine selective arbitration agreement throughly according to the autonomy of the parties rules, wide jurisdiction rules of interpretation, principle of kompetenz-kompetenz, and moses cone presumption rule of interpretation, selective arbitration agreement is a valid arbitration agreement. Also analyze precedents in accordance with validity of selective from all angles which are voluntary agreement of the parties, agreement in writing, principle of private autonomy, comparative study of domestic and foreign precedents and mutual relation of arbitration and trial, selective arbitration agreement based on principle of private by the parties is considered a valid arbitration agreement. Courts should actively accept selective arbitration agreement as a valid arbitration agreement to make foreign companies prefer arbitration in Korea and in oder for arbitration to be widely used in disputes.

  • PDF

The Ways to Develop the Arbitration Industry in Korea (한국 중재산업 발전 방안)

  • Yoon, Jin-Ki
    • Journal of Arbitration Studies
    • /
    • v.28 no.4
    • /
    • pp.3-42
    • /
    • 2018
  • This paper aims to explore ways to develop the arbitration industry in Korea. The prospects for the promotion of the arbitration industry in Korea are never dim. International arbitration competitiveness is somewhat lower than its competitors at present, but the international economic base to support it is solid, and the domestic arbitration environment seems to be sufficient to support the development possibility of arbitration. Since geographical and economic factors have already been defined, Korea must at least improve the arbitration act with passion and vision for the best one. The arbitration act that is the most accessible to arbitration consumers is the best arbitration act. The important thing is to have an arbitration act that makes people want to use more than litigation or other dispute resolution procedures. There is no hope of remaining as a "second mover" in the field of arbitration law. One should have a will and ambition to become a "first mover" even if it is risky. Considering the situation of the current arbitration law, it is necessary to start an arbitration appeal system in order to become a consumer-friendly arbitration law, and it is necessary to examine ways of integrating the grant of execution clause and enforcement application procedures. The abolition of the condition of Article 35 of the Arbitration Act, which rules the validity of the arbitration award, will help promote international arbitration. Exclusion agreements of setting aside against arbitration awards must also be fully recognized. It is also important to publish a widely cited international arbitration journal. In order to respond to the fourth industrial revolution era, it is necessary to support the establishment of a dispute resolution system that utilizes IT technology. In order to actively engage the arbitrators in the market, it is necessary to abolish the regulations that exist in the Attorneys-at-Law Act. There is also a need to allocate more budget to educate arbitration consumers and to establish arbitration training centers to strengthen domestic arbitration education. It is also necessary to evaluate and verify the Arbitration Promotion Act so that it can achieve results. In the international arbitration market, competition is fierce and competitors are already taking the initiative, so in order not to miss the timing, Korea needs to activate international arbitration first. In order to activate international arbitration, the arbitration body needs to be managed with the same mobility and strategy as the agency in the marketplace. In Korea, unlike in Singapore and Hong Kong, it is necessary to recognize that the size of the domestic arbitration market is very likely to increase sharply due to the economic size of the country and the large market potential it can bring from litigation. In order to promote the arbitration industry, what is most important is to make arbitration activities in accordance with the principles of the market and to establish an institutional basis to enable competition. It is urgently required to change the perception of the relevant government departments and arbitration officials.