A. LEGISLATION AND RULES A.1 Legislation International arbitration in South Korea continues to be governed by the Korean Arbitration Act 1966 (“Arbitration Act”), which was last updated in 2020 to incorporate the 2006 revisions to the UNCITRAL Model Law. There have been no subsequent legislative amendments. In 2017, the Supreme Court of Korea enacted the Established Rules for Handling Cases Subject to Court Jurisdiction under the Arbitration Act, which regulate matters necessary for handling such…

A. LEGISLATION AND RULES A.1       Legislation South Korea has adopted a pro-arbitration legal framework that governs both domestic and international proceedings. International arbitration proceedings continue to be governed by the Korean Arbitration Act, which is based on the UNCITRAL Model Law. In 2016, the Korean legislature enacted long-awaited amendments to the Korean Arbitration Act and adopted many of the 2006 Amendments to the UNCITRAL Model Law. A minor amendment was added in 2020 to article…

SOUTH KOREA Hyunyang Koo and Vaishali Sharma. A. LEGISLATION AND RULES South Korea has adopted a pro-arbitration legal framework that governs both domestic and international proceedings. International arbitration continues to be governed by the Korean Arbitration Act, which is based on the UNCITRAL Model Law. In 2016, the Korean legislature enacted long-awaited amendments to the Korean Arbitration Act and adopted many of the 2006 Amendments to the UNCITRAL Model Law. The revised Act has been well-received…