SOUTH KOREA Law and Practice Contributed by: Junu Kim, Woojae Kim, Hangil Lee and Sarthak Malhotra Bae, Kim & Lee LLC Contents 1. Overview p.208 1.1 National Position p.208 1.2 Arbitration Conventions p.208 1.3 Prevalence of Investor–State Arbitration p.208 1.4 Key Industries p.209 1.5 Major Arbitrations p.209 1.6 Reaction to Awards Made Against the State p.210 2. Investment Treaties, Free Trade Agreements and Investment Laws p.210 2.1 Bilateral and Multilateral Investment Treaties p.210 2.2 Model Bilateral Investment Treaty p.211 2.3 Free Trade Agreements p.211
China
North Korea
Seoul
South Korea
Japan
6. Third-Party Funding p.215 6.1 Prevalence of Third-Party Funding p.215 6.2 Third-Party Funding Case Law p.215 6.3 Disclosure and Security for Costs p.215
7. Other Procedural and Evidentiary Issues p.215 7.1 Notice of Dispute and Consultation Period p.215 7.2 Confidentiality and Transparency p.216 8. Damages and Valuation p.216 8.1 Remedies p.216 8.2 Methodologies for Quantum Assessment p.217 8.3 Recovering Interest and Legal Costs p.217 8.4 Mitigation of Damages p.217
2.4 Interpretive Aids p.212 2.5 Investment Laws p.212
9. Enforcement of Awards p.217 9.1 Enforcement Procedure p.217 9.2 Approach of the Courts p.218 9.3 Asset Tracing and Recovery p.218
2.6 Arbitration Clauses in Investor–State Contracts p.212 3. Substantive Protections and Breaches p.212
3.1 Common Complaints p.212 4. The Arbitral Tribunal p.213
4.1 Limits on Selection p.213 4.2 Default Procedures p.213 4.3 Court Intervention p.213 4.4 Challenge and Removal of Arbitrators p.213 4.5 Arbitrator Requirements p.213 5. Preliminary and Interim Relief p.214 5.1 Types of Relief p.214 5.2 Role of Domestic Courts p.214 5.3 Security for Costs p.215
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