Setting Aside and Recognizing and Enforcing Awards in Korea - Chapter 9 - Arbitration Law of Korea: Practice and Procedure
About the firm:
Bae, Kim & Lee's International Arbitration and Litigation Group has earned worldwide respect for its forceful and uncompromising representation of clients. In a field where experience counts, BKL boasts Korea's first dedicated international arbitration practice group. Having been at the forefront of the field in Korea for the past 10 years, the team is now composed of 16 attorneys from several jurisdictions plus paralegals and staff, and includes a former Counsel of the ICC Secretariat and several members listed in leading publications including Who's Who Legal, Chambers, and Asia-Pacific Legal 500. This year, reflecting the team's progress and current international standing, BKL received the Arbitration Win of the Year award from Global Arbitration Review (GAR) and had the honor of being the first and only Korean firm ever listed in the "GAR 30," awarded to the 30 top arbitration practices worldwide.
General Editors:
Kap-You (Kevin) Kim is Head of the International Arbitration and Litigation Practice Group and Partner of Bae, Kim & Lee LLC. Mr. Kim has the distinct honor of being a Court Member of the ICC Court of Arbitration and the London Court of International Arbitration, listed ICSID arbitrator, Senior Advisor to the Korean Commercial Arbitration Board, Vice Chair of the IBA Arbitration Committee and a Board Member of the American Arbitration Association.
John P. Bang is Partner (foreign legal adviser) and co-founder of Bae, Kim & Lee's International Arbitration and Litigation Practice Group. Mr. Bang has acted as counsel in over 75 commercial arbitral proceedings in Asia, Europe and the US under the rules of all major international arbitral institutions including, among others, the ICC, ICSID, LCIA, SIAC, JCAA, and KCAB (Korean Commercial Arbitration Board) and numerous litigation proceedings in various foreign jurisdictions. He was named in the Global Arbitration Review’s "45 under 45" for 2011, which lists the leading figures of the international arbitration bar under the age of 45
Contributing Authors:
Seungwoo (Sean) Cho
Matthew J. Christensen
Kyongwha Chung
Seung Il Hong
Woochul Hwang
Eun Ah Jeung
Byoung Pil Kim
Hong-Joong Kim
Junu Kim
Sue Hyun Lim
David W. MacArthur
James Morrison
JongKwon Ryoo
Yunsoo Shin
Sung Woo Yang
Seokchun Yun
Originally from Arbitration Law of Korea: Practice and Procedure
SETTING ASIDE AND RECOGNIZING AND ENFORCING AWARDS IN KOREA
9.1 INTRODUCTION
Korea is a pro-enforcement jurisdiction, having infrequently set aside awards rendered in Korea under the Arbitration Act and having only refused recognition and enforcement of a foreign award under the New York Convention in one exceptional case.1
This track record can be explained at least in part by the fact that the Korean legislature and judiciary embraced from a relatively early stage the international standards embodied in the New York Convention and Model Law (as discussed in Sections 1.3.4 and 1.3.5). As such, Korean courts endeavor to maintain the high standards of recognition and enforcement of awards called for by these international instruments.
The purpose of this chapter is to provide an overview of the framework of Korean law governing the setting aside and recognition and enforcement of arbitral awards, including the relevant procedural requirements, as well as the jurisprudence of the courts addressing the substantive grounds for challenging awards.
Chapter 9 Setting Aside and Recognizing and Enforcing Awards in Korea
9.1 Introduction
9.2 Structure of the Arbitration Act
9.2.1 Domestic Awards vs. Foreign Awards
9.2.2 Setting Aside vs. Recognition and Enforcement
9.2.2.1 Setting Aside
9.2.2.2 Recognition and Enforcement
9.3 Procedures for Setting Aside and Recognizing and Enforcing Awards
9.3.1 Generally
9.3.2 Setting Aside Domestic Awards
9.3.3 Recognizing and Enforcing Awards
9.3.3.1 Domestic Awards
9.3.3.2 NYC Awards
9.3.3.3 Non-NYC Awards
9.4 Grounds for Setting Aside and Recognizing and Enforcing Awards . 268
9.4.1 Generally
9.4.2 Domestic Awards
9.4.3 NYC Awards
9.4.4 Non-NYC Awards
9.5 Korean Court Precedents concerning Domestic Awards and NYC Awards
9.5.1 Invalidity of the Arbitration Agreement
9.5.2 Breach of Due Process
9.5.3 Exceeding the Tribunal's Authority/Scope of Arbitration Agreement
9.5.4 Breach of the Applicable Procedural Rules
9.5.5 Non-arbitrable Subject Matter
9.5.6 Breach of Public Policy
9.5.6.1 Domestic Awards
9.5.6.2 NYC Awards