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Asia Disputes Report 2017: Seoul rising

Sunday, 17th July 2017

"The top international arbitration venues in Asia might be Hong Kong and Singapore, but Seoul, South Korea’s capital city, has recently been making notable progress to compete with the two venues for cases.

Since establishing the Seoul International Dispute Resolution Centre (SIDRC) less than five years ago, Korea has been busy making a case for pursuing arbitration in Seoul.

Just last year, Korea revised its Arbitration Act, and the Korean Commercial Arbitration Board (KCAB) amended its Arbitration Rules – both domestic and international – to be more arbitration-friendly and reflect the recent trends in international arbitration.

KCAB even issued a new Code of Ethics for Arbitrators in the same year. “Korea is doing almost everything it can,” says Lee Young-seok, SIDRC’s secretary-general and an international dispute resolution partner at Yulchon. “Korea has been amending its rules to bring it on par with the international trend. In addition, the country is making itself better known to the world, holding many seminars, lectures and conferences overseas.”"

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Language: English
Contact: John Kang

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