ARBITRATION ACT

CHAPTER I GENERAL PROVISIONS

Article 1(Purpose) #

The purpose of this Act is to resolve private law disputes through arbitration in an appropriate, fair, and prompt manner.

[This Article Wholly Amended on Mar. 31, 2010]

Article 2(Scope of application) #

(1) This Act shall apply to cases where the place of arbitration under Article 21 is in the Republic of Korea; provided, Articles 9 and 1 0 shall apply even where the place of arbitration has not been yet determined or is not in the Republic of Korea, and Articles 37 and 39 shall apply even where the place of arbitration is not in the Republic of Korea.

(2) This Act shall not affect any other statute by virtue of which certain disputes may not be referred to arbitration or may be referred to arbitration only according to provisions, other than those of this Act, nor shall it affect any treaties in force in the Republic of Korea.

[This Article Wholly Amended on Mar. 31, 2010]

Article 3(Definitions) #

The terms used in this Act are defined as follows: <Amended on May 29, 2016>

1. The term "arbitration" means a procedure agreed by the parties to resolve a dispute over property rights or disputes over non-property rights that the parties can resolve through settlement by an arbitrator's award, not by a judgment of a court;

2. The term "arbitration agreement" means an agreement by the parties to resolve through arbitration all or certain disputes which have already arisen or may arise between them in respect of a defined legal relationship, whether contractual or not;

3. The term "arbitral tribunal" means a sole arbitrator or a panel of arbitrators who conduct the arbitral proceedings and make an arbitral award.

[This Article Wholly Amended on Mar. 31, 2010]

Article 1(Purpose) #

Article 2(Scope of application) #

Article 3(Definitions) #

Article 4(Notice of written communications)

Article 5(Waiver of rights to object) #

Article 6(Court intervention) #

Article 7(Competent courts) #

Article 8(Form of arbitration agreement) #

Article 9(Arbitration agreement and substantive claim before court) #

Article 10(Arbitration agreement and interim measures of protection by court) #

Article 11(Number of arbitrators) #

Article 12(Appointment of arbitrators) #

Article 13(Grounds for challenge of arbitrators) #

Article 14(Procedures for challenge of arbitrators) #

Article 15(Termination of mandate of arbitrator due to his or her failure to act) #

Article 16(Appointment of substitute arbitrators) #

Article 17(Decision on jurisdiction of arbitral tribunals) #

Article 18(Interim measures) #

Article 18-2(Conditions for granting interim measures) #

Article 18-3(Modification, suspension, or termination of interim measures) #

Article 18-4(Provision of security) #

Article 18-5(Duty to disclose) #

Article 18-6(Costs and damages) #

Article 18-7(Recognition and enforcement of interim measures) #

Article 18-8(Grounds for refusing recognition or enforcement) #

Article 19(Equal treatment of parties) #

Article 20(Arbitral proceedings) #

Article 21(place of arbitration) #

Article 22(Commencement of arbitral proceedings) #

Article 23(Language) #

Article 24(Statement of claim and defense) #

Article 25(Hearings) #

Article 26(Default of either party) #

Article 27(Experts) #

Article 28(Court assistance in taking evidence) #

Article 29(Applicable law to substance of dispute) #

Article 30(Decision-making by arbitral tribunals) #

Article 31(Settlement) #

Article 32(Form and contents of arbitral awards) #

Article 33(Termination of arbitral proceedings) #

Article 34(Correction and interpretation of arbitral awards and additional awards) #

Article 34-2(Allocation of arbitration costs) #

Article 34-3(Delay interest) #

Article 35(Effect of arbitral awards) #

Article 36(Action for setting aside arbitral awards) #

Article 37(Recognition and enforcement of arbitral awards) #

Article 38(Domestic arbitral awards) #

Article 39(Foreign arbitral awards) #

Article 40(Assistance to commercial arbitral institutions) #

Article 41(Enactment and approval of arbitration rules) #