The 2016 amended Arbitration Act incorporated the 2006 UNCITRAL Model Law on International Commercial Arbitration (UNCITRAL Model Law),
thereby adopting recent developments in international arbitration practice to the efficiency of arbitration proceedings.
Notable amendments include expanded scope of arbitrable disputes (article 3, section 1), a wider range of discretion for the arbitral tribunal in rendering interim measures (article 18, section 2), and simplification of the procedure for enforcement of arbitral awards (article 37, section 2).
To access the Arbitration Act, click below.Korean Arbitration Act
- Korean Court Precedents (enforcing arbitral agreement and awards)
- International Convention and Treaties
- - 1958 New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards
- - 1966 International Centre for Settlement of Investment Disputes (ICSID) Convention
- - And others