The following Arbitration practice note provides comprehensive and up to date legal information covering:
This Practice Note contains a jurisdiction-specific Q&A guide to arbitration in South Korea published as part of the Lexology Getting the Deal Through series by Law Business Research (published: November 2020).
Authors: Kim & Chang—Byung-Woo Im; Hyemin Park; Joel E Richardson
Korea signed the Convention on the Recognition and Enforcement of Foreign Arbitral Awards (the New York Convention) on 8 February 1973, and it entered into force on 9 May 1973. Korea declared that it will only apply the New York Convention to arbitral awards made in the territory of states that are also parties to the Convention, and only to disputes that would be considered commercial disputes (contractual or otherwise) under Korean law.
Korea signed the Convention on the Settlement of Investment Disputes between States and Nationals of Other States on 21 February 1967, and it entered into force on 23 March 1967.
Korea has entered into more than 100 bilateral investment treaties and numerous free trade
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Hearsay evidence in civil litigationThis Practice Note provides guidance on the interpretation and application of the relevant provisions of the CPR. Depending on the court in which your matter is proceeding, you may also need to be mindful of additional provisions—see further below.This Practice
AML and counter-terrorist financing—source of funds and source of wealthSource of funds and wealth was a key focus of the SRA’s Preventing Money Laundering and Financing of Terrorism thematic review, published in March 2018. Its findings included that:•most firms understood the distinction between
Qualified one-way costs shifting (QOCS)What is QOCS?Qualified one-way costs shifting (QOCS) was introduced on 1 April 2013 as part of the Jackson costs reforms following the removal of a claimant’s right to recover additional liabilities from the defendant, ie success fees and after the event (ATE)
Public inquiry procedureThe procedure by which a public inquiry is conducted will vary significantly from one inquiry to the next. Even for inquiries established under the Inquiries Act 2005 (IA 2005), the associated inquiry rules are not particularly prescriptive as to how they ought to be
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