KCAB INTERNATIONAL signed a Memorandum
of Understanding (MoU) with the Thailand Arbitration Center (THAC) on 17
January 2020. This MoU is expected to jointly promote dispute settlement
through Alternative Dispute Resolution (“ADR”).
The MoU was made by Heehwan Kwon,
director of KCAB INTERNATIONAL and Pasit Asawawattanaporn, managing Director of
THAC. The signing ceremony was held at the THAC, an arbitral institution based
in Thailand that is taking the lead in promoting the use of ADR in the country
as well as in the ASEAN region.
At the signing ceremony, KCAB
INTERNATIONAL and THAC both agreed on the fact that a mutual relationship between
them is imperative regarding an increasing economic relationship between Korean
and Thailand business entities. Thus, both KCAB INTERNATIONAL and THAC approved
of establishing a linkage through mutual co-operation and sharing of expertise
and efforts in education, training, and promotion.
Mr. Heehwan Kwon, director of KCAB
INTERNATIONAL said, “We are pleased to have the MoU with THAC. Through the MoU,
we look forward to building up the basis of cooperation which would be
convenient and helpful for numerous business entities in Korea and Thailand.”
Mr. Pasit Asawattanaporn, managing
Director of THAC added, “We are also interested in providing a platform
where younger members of arbitration in Thailand can exchange ideas and create
professional friendship like KCAB NEXT. We hope for hosting a joint-seminar and
an intensive program with KCAB to help young practitioners broaden their
knowledge and strengthen their skills in international arbitration.”