The following Arbitration practice note produced in partnership with Kun-Hee Cho of Kim & Chang provides comprehensive and up to date legal information covering:
Established in 1966, the Korean Commercial Arbitration Board (KCAB) first introduced a separate set of International Rules in 2007, which was amended in 2011. From 2014, KCAB started discussions with the Korean Council for International Arbitration (KOCIA) to reflect the most recent developments in international arbitration in a further amendment of its International Rules. These discussions were reflected in the new 2016 International Arbitration Rules of the KCAB (2016 International Rules), which came into effect on 1 June 2016, marking the 50th anniversary of its founding. KCAB’s amendment to its International Rules coincides with the first major amendment to the Korean Arbitration Act since 1999, and marks continued growth of international arbitration in Korea.
KCAB has produced a useful commentary in English on the 2016 International Rules, which parties and practitioners should consult.
KCAB is the leading international arbitration institution providing alternative dispute resolution services in Korea. KCAB’s arbitral procedures are supported by the Secretariat and the International Arbitration Committee.
The Secretariat administers the arbitral proceedings and takes a proactive role up to the constitution of the arbitral tribunal, coordinating between the parties for exchange of submissions and correspondences, receipt of arbitration fees and confirmation of the arbitrators.
The International Arbitration Committee is an advisory committee, currently composed of 18 renowned arbitration experts of
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