Enforcement of Annulled Arbitral awards in Korea: Where are We and Where Should We Go?
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The fate of arbitral awards annulled at the seat of arbitration is unclear in Korea because neither the Arbitration Act nor the New York Convention offers any guidance for courts to follow. Rather, courts have discretion on how to proceed. To address such ambiguity this paper starts by assessing the applicable Korean legal framework, followed by a summary of the two conflicting views on how to interpret Article V(1)(e) of the New York Convention as well as pertinent court jurisprudence. Between the traditional view that annulled arbitral awards are unenforceable and the delocalisation theory which argues otherwise, this paper finds that Korean courts should adopt a two-step test centered on Article 217 of the Civil Procedure Act. Specifically, due to the principle of state sovereignty, Korean courts must first conduct a preliminary analysis under Article 217 to evaluate the effectiveness of the foreign judgment which annulled the problematic award. If the court cannot recognize the foreign judgment, then it should treat the annulled award in the same manner as any other arbitral award. If the foreign judgment must conversely be recognized, then the award no longer exists under Korean law and the court should accordingly dismiss the action.
Abstract
The fate of arbitral awards annulled at the seat of arbitration is unclear in Korea because neither the Arbitration Act nor the New York Convention offers any guidance for courts to follow. Rather, courts have discretion on how to proceed. To address such ambiguity this paper starts by assessing the applicable Korean legal framework, followed by a summary of the two conflicting views on how to interpret Article V(1)(e) of the New York Convention as well as pertinent court jurisprudence. Between the traditional view that annulled arbitral awards are unenforceable and the delocalisation theory which argues otherwise, this paper finds that Korean courts should adopt a two-step test centered on Article 217 of the Civil Procedure Act. Specifically, due to the principle of state sovereignty, Korean courts must first conduct a preliminary analysis under Article 217 to evaluate the effectiveness of the foreign judgment which annulled the problematic award. If the court cannot recognize the foreign judgment, then it should treat the annulled award in the same manner as any other arbitral award. If the foreign judgment must conversely be recognized, then the award no longer exists under Korean law and the court should accordingly dismiss the action.
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