INTERNATIONAL ARBITRATION 1/3LY
IN CONVERSATION WITH SUNGBAE JI 33
The amendments will include, amongst other things, provisions on emergency arbitrators and arbitrations between multiple parties.
Beyond the facilities and technology which it brings on board, the SIDRC symbolises the combined efforts of the Korean central and local governments, as well as many other organisations, to make Korea the hub of international arbitration. The SIDRC could only happen because of the close cooperation between the KCAB, Korean Bar Association, Seoul city and the Korean central government. Along with the development of the SIDRC, the Korean government recently announced its plan to amend the Arbitration Act, while the city of Seoul is implementing policies to make itself a pro-arbitration city like Hong Kong or Singapore; all of which, I believe will, positively contribute to the development of arbitration in Korea. ARBITRATION IN ASIA-PACIFIC: COOPERATION AND COMPETITION JUNE Stepping away from Korea for a second, perhaps we could discuss arbitration in the Asia-Pacific region. There has been remarkable growth in international arbitration in the region, however, what do you think are the major challenges in moving arbitration forward? SUNGBAE JI Though the SIAC and HKIAC seem to have more favourable environments for arbitration than institutions in other regions, arbitration procedures in the region remain very much in tandem with the rest of the world. In order to move forward and keep evolving, constant amendments and improvements of arbitration rules should be made to ensure that arbitration procedures remain prompt and predictable, and that they continue to meet the needs of the parties. Since 2011, the KCAB has adopted arbitration rules that meet global standards. Since applying the new rules, however, we have noticed that the average length of an arbitration has increased from seven months to one year.
ARBITRATION IN KOREA: THE CURRENT LANDSCAPE
JUNE It is certainly laudable that you hope to build on the first 50 years by encouraging the spread of arbitration further. How would you describe the current culture surrounding arbitration in Korea? SUNGBAE JI Litigation is still the preferred dispute resolution procedure in Korea. ADR procedures such as mediation and conciliation, though frequently ordered by judges, are only complementary to the trial process. Compared to litigation, I would say that arbitration is relatively less influential in Korea as a means of dispute settlement. JUNE It looks like the KCAB has its work cut out for it. SUNGBAE JI We do indeed. However, the number of arbitration cases handled by the KCAB continues to grow every year. In the last four years the number of filed cases reached 1,403. We expect this growth to continue in the years ahead. Last year the KCAB reported record high numbers in both domestic arbitration cases (295 cases) and international arbitration cases (87 cases). In the first half of this year, the number of arbitration cases has increased by 20% compared to the same period last year. In terms of caseload, the KCAB is generally among the top eight institutions for international arbitration. JUNE I understand that a new Seoul International Dispute Resolution Centre (SIDRC) opened about two years ago. It looks impressive and I believe it seeks to rival the likes of Maxwell Chambers in Singapore. Has that had a positive impact on the increased use of arbitration in Korea? SUNGBAE JI The SIDRC was established to provide various services for arbitration proceedings. Like you said, the SIDRC is equipped with cutting-edge technology, and we see it as the perfect venue for arbitration proceedings.
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