South Korea ARBITRATION

South Korea Arbitration

South Korea is a Contracting State to the ICSID Convention:

  • Signature: 18 April 1966 
  • Deposit of Ratification: 21 February 1967
  • Entry into Force: 23 March 1967
  • Pursuant to Article 54(2) of the ICSID Convention, South Korea has designated “Seoul, Seoul Civil District Court; Chunchon, Kangwondo Chunchon District Court; Chongju, Chungchong Pukdo Chongju District Court; Taejon, Chungchong Namdo Taejon District Court; Taegu, Kyongsand Pukdo Taegu District Court; Pusan, Kyongsang Namdo Pusan District Court; Kwangju, Cholla Namdo Kwangju District Court; Chonju, Cholla Pukdo Chongju District Court; Cheju, Chejudo Cheju District Court” as competent for the recognition and enforcement of ICSID awards.
  • Pursuant to Article 69 of the ICSID Convention, South Korea enacted Promulgation of the Convention (as Treaty No. 234) (Off. Gaz. Extr. No. 4580, February 21, 1967, p. 361) to make the Convention effective in their jurisdiction.
  • Pursuant to Article 13(1) of the ICSID Convention South Korea has made the following panel designations effective until 4 March 2015:
    - Dr. Sung Phil HONG: Associate Professor of Law, Yonsei University
    - Mr. Kyung Geun LEE: Attorney-at-Law
    - Dr. Eun-Young PARK: Attorney-at-Law
    - Mr. Yong Suk YOON: Attorney-at-Law
    - Dr. Youngjin JUNG: Adjunct Professor, KDI School of Public Policy and Management
    - Mr. Kap-You (Kevin) KIM: Attorney-at-Law
    - Dr. Hi-Taek SHIN: Professor of Law, Seoul National University School of Law
    - Mr. Byung Chol YOON: Attorney-at-Law, Vice Chairman, Korean Council for International Commercial Arbitration

South Korea is a Contracting State to the New York Convention:

  • Date of Accession: 8 February 1973
  • Entry into Force: 9 May 1973
  • South Korea will only apply the New York Convention to the recognition and enforcement of awards made in the territory of another contracting state & only to differences arising out of legal relationships, whether contractual or not, that are considered commercial under their national law

In 1999, South Korea enacted legislation based on the UNCITRAL Model Law on International Commercial Arbitration as adopted in 1985 and is therefore now popularly considered to be an UNCITRAL Model Law State

South Korea is a not Contracting State to the 1899 Convention for the Pacific Settlement of International Disputes:

  • Entry into Force: N/A

South Korea is a Contracting State to the 1907 Convention for the Pacific Settlement of International Disputes:

  • Entry into Force: 21 February 2000

South Korea is a United Nations Member State:

  • Date of Admission: 17 September 1991

Official State Name: Republic of Korea - Daehanminguk - 大韓民國 - 대한민국

Official Language: Korean

Capital: Seoul

Motto: 홍익인간; 弘益人間 Benefit all mankind (unofficial)

Time Zone: Korea Standard Time (UTC+9)

Currency: South Korean won (₩) (KRW)

International Calling Code: +82

Internet TLD: .kr

Coming soon.

 

For more details please check this URL : http://www.southkoreaarbitration.com