대한상사중재원 국제중재규칙의 개정 동향- ICC 중재규칙의 개정과 비교하여 -
Review on The KCAB International Arbitration Rule Recently Revised - In Comparison with the Revised ICC Arbitration Rules -
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The Korean Arbitration Board (KCAB)'s recent revision of its International Arbitration rule is said to reflect its efforts to advance its procedures, which directly leads to the improved competitiveness as an arbitration institute. Apart from certain limitations, the KCAB's international arbitration rule revised introduced several new arbitration mechanisms including Fast-Task Arbitration and empowered administrative office. The International Chamber of Commerce (ICC) released a revised set of arbitration rules (ICC Arbitration Rules), which has been said to be probably the most consulted-on arbitration rules ever. Even though they codify existing ICC Court practice and just add to the 1998 Rules provisions felt necessary in light of the input from the users of arbitration in the consultation exercise, some of the changes will have huge implications on the future aspects of arbitration mechanism expecially for those of KCAB. While it remains to be seen what impact the ICC Arbitration Rules will have in practice, the new rules have been well received by the arbitration community and represent a modern set of provisions consistent with the current needs of the users of international arbitration. That's why, here in Korean arbitration environment, further research is needed on the possibilities of introduction of the several factors from the revised ICC Arbitration Rules to improve the speed and cost efficiency of international arbitration.
Abstract
The Korean Arbitration Board (KCAB)'s recent revision of its International Arbitration rule is said to reflect its efforts to advance its procedures, which directly leads to the improved competitiveness as an arbitration institute. Apart from certain limitations, the KCAB's international arbitration rule revised introduced several new arbitration mechanisms including Fast-Task Arbitration and empowered administrative office. The International Chamber of Commerce (ICC) released a revised set of arbitration rules (ICC Arbitration Rules), which has been said to be probably the most consulted-on arbitration rules ever. Even though they codify existing ICC Court practice and just add to the 1998 Rules provisions felt necessary in light of the input from the users of arbitration in the consultation exercise, some of the changes will have huge implications on the future aspects of arbitration mechanism expecially for those of KCAB. While it remains to be seen what impact the ICC Arbitration Rules will have in practice, the new rules have been well received by the arbitration community and represent a modern set of provisions consistent with the current needs of the users of international arbitration. That's why, here in Korean arbitration environment, further research is needed on the possibilities of introduction of the several factors from the revised ICC Arbitration Rules to improve the speed and cost efficiency of international arbitration.
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