SOUTH KOREA Law and Practice Contributed by: Eun Young Park, Zac Sharpe, Joon Won Lee and Yoo Lim Oh Lee & Ko
China
North Korea
Seoul
South Korea
Japan
Contents 1. General p.906 1.1 Prevalence of Arbitration p.906 1.2 Key Industries p.906 1.3 Arbitration Institutions p.907 1.4 National Courts p.907 2. Governing Legislation p.907 2.1 Governing Law p.907 2.2 Changes to National Law p.908 3. The Arbitration Agreement p.908 3.1 Enforceability p.908 3.2 Arbitrability p.908 3.3 National Courts’ Approach p.909 3.4 Validity p.910 4. The Arbitral Tribunal p.910 4.1 Limits on Selection p.910 4.2 Default Procedures p.910 4.3 Court Intervention p.911 4.4 Challenge and Removal of Arbitrators p.911 4.5 Arbitrator Requirements p.911 5. Jurisdiction p.911 5.1 Challenges to Jurisdiction p.911 5.2 Circumstances for Court Intervention p.912 5.3 Timing of Challenge p.912 5.4 Standard of Judicial Review for Jurisdiction/ Admissibility p.912 5.5 Breach of Arbitration Agreement p.912 5.6 Jurisdiction Over Third Parties p.912 6. Preliminary and Interim Relief p.913
7. Procedure p.914 7.1 Governing Rules p.914 7.2 Procedural Steps p.914 7.3 Powers and Duties of Arbitrators p.914 7.4 Legal Representatives p.915 8. Evidence p.915 8.1 Collection and Submission of Evidence p.915 8.2 Rules of Evidence p.915 8.3 Powers of Compulsion p.916 9. Confidentiality p.916 9.1 Extent of Confidentiality p.916 10. The Award p.916 10.1 Legal Requirements p.916 10.2 Types of Remedies p.916 10.3 Recovering Interest and Legal Costs p.917 11. Review of an Award p.917 11.1 Grounds for Appeal p.917 11.2 Excluding/Expanding the Scope of Appeal p.918
11.3 Standard of Judicial Review p.918 12. Enforcement of an Award p.918 12.1 New York Convention p.918 12.2 Enforcement Procedure p.918 12.3 Approach of the Courts p.919 13. Miscellaneous p.919 13.1 Class Action or Group Arbitration p.919 13.2 Ethical Codes p.919 13.3 Third-Party Funding p.919 13.4 Consolidation p.919 13.5 Binding of Third Parties p.919
6.1 Types of Relief p.913 6.2 Role of Courts p.913 6.3 Security for Costs p.913
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