Enforcement of Arbitral Awards in South Korea

Abstract

Not only is South Korea an economic powerhouse, but it is also a pro-arbitration and pro-enforcement jurisdiction. This article examines the enforcement framework of both domestic and foreign arbitral awards in South Korea, considering the latest amendments to the Korean Arbitration Act (KAA). In doing so, the authors argue that South Korea is a sophisticated jurisdiction for arbitration and its regime for enforcement is consistent with leading Model Law jurisdictions in the Asia-Pacific region. Most notably, enforcement proceedings in South Korea follow an expeditious ‘decision to enforce’ process, akin to a common law summary judgment type procedure and South Korean courts only require the bare minimum documents to be submitted as proof. Furthermore, South Korean courts take an internationalist and narrow approach to the defences to enforcement, requiring a serious breach or impact on due process before granting refusal. The pro-arbitration nature of South Korea is particularly noticeable in the context of arbitrability and public policy. Competition and intellectual property matters are now both likely arbitrable in South Korea, and South Korean courts maintain a high threshold for refusing to enforce awards under the public policy ground.

Keywords: South Korea, Enforcement, Arbitral Awards