The Legal Framework for Arbitration in the Republic of Korea

General Information

  • UNCITRAL Model-Law based: Yes.
  • Legal Provisions: The Arbitration Act, as amended on 26 January 2002 by Act No. 6626, governs both domestic and international arbitration. English translation is available on the website of the Korean Commercial Arbitration Board.

Multilateral Conventions

  • New York Convention: Yes (ratification/accession: 8 February 1973); reservations: reciprocity; commercial disputes.
  • European Convention: No.
  • ICSID Convention: Yes. (ratification/accession: 21 February 1967); reservations: none.
  • Energy Charter Treaty: observer by invitation.

Arbitral Institutions

Last updated November 2016