The Seoul High Court ruled that even if an arbitration award contains ambiguities in its order, Korean courts should enforce it if the award’s details, including the judgment amount, can be determined from its reasoning. Facts The main issue in the case is whether the award’s direction to “reactivate the secured accounts and take all necessary measures” was sufficiently specific to be enforced in Korea. KCC argued that the award did not clearly define the specific acts required and therefore could not serve as the basis for
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IPG Legal Expert Opinions on Korean Law for Foreign Courts and Law Firms
As complex cross-border litigation, arbitration, and international transactions continue to increase in Korea, foreign courts and overseas counsel are frequently required to apply or assess Korean law and the Korean legal system. In such cases, accurate and nuanced interpretation of Korean statutes, judicial precedent, and regulatory practice is essential. IPG Legal regularly works with foreign lawyers and courts to provide expert opinions on matters governed by Korean law. We often appear in court and provide legal opinions worldwide. The Role of Korean Law Expert Opinions in Cross-Border
Continue readingKorean Commercial Arbitration Board Announces Comprehensive Revision to Arbitration Rules: Korean Arbitration Updates
The Korea Commercial Arbitration Board (KCAB) International Arbitration Center has announced a comprehensive revision of its International Arbitration Rules. This is the first significant amendment to the Rules in a decade. The revised Rules, scheduled to take effect in January 2026, introduce substantial structural and procedural enhancements designed to align KCAB’s operations with global best practices in international arbitration and increase the number of cases heard at the KCAB. Key reforms include the establishment of a dedicated International Arbitration Court, the introduction of expedited and simplified procedures,
Continue readingLess than 10% of Korean Civil Cases Settle Before a Judgment
The Legal Times has reported that a recent study found that less than one in ten civil lawsuits resolve through settlement or mediation. Over the past five years, an average of 61% of civil cases in the first trial ended in a verdict, while only 7% ended in mediation or reconciliation. This represents a significant difference compared to countries like Japan (33%) and the United States (60-70%). The full article can be found at: [Exclusive] Civil litigation settlements and mediations are declining, with only 7% of cases
Continue readingKorean Supreme Court Reaffirms Pro-Arbitration Stance in Korean Arbitration Clause Dispute
On January 23, 2025, the Supreme Court of Korea’s First Civil Division (Case No. 2024Da243172) issued a significant decision reaffirming Korea’s arbitration-friendly judicial posture. The Korean Supreme Court ruled that even where an arbitration clause in a contract contains ambiguous or inconsistent language, it may still constitute a valid and exclusive arbitration agreement if the parties’ overall intent to arbitrate is clear. The case serves as a valuable lesson in drafting clear agreements from the outset. It appears that the parties did not have a competent attorney
Continue readingArbitration in Korea under the Korean Commercial Arbitration Board: International Arbitration Rules
Before the revision of the Korean Commercial Arbitration Board’s International Arbitration Rules, all cases submitted to the board under arbitration clauses that did not specify “International Arbitration Rules” govern the arbitration -would lead to the local arbitration rules being applied and the language of the arbitration being Korean. For additional articles on arbitration in Korea, please see: IPG Legal’s Arbitration Law Archive. A client who was working with one of the other law firms in Korea became entangled in this issue. Fortunately, we were able to amend
Continue readingKorean Commercial Arbitration Boards New International Mediation Rules
The Korean Commercial Arbitration Board (“KCAB”) in a move to encourage more international mediation at the KCAB has adopted International Medication Rules. The International Mediation Rules of the KCAB are effective as of January 1, 2024. The KCAB is the, only, statutorily-authorized arbitration board in Korea. For an article on arbitration in Korea, please see Arbitration in Korea at the Korean Commercial Arbitration Board and an Introduction to Korean Arbitration. The International Mediation Rules of the KCAB are a reaction to the growth in mediation and adoption
Continue readingTop 100 Korean Lawyers & Legal Consultants in Korea
Sean Hayes, an attorney for the Top Korean Dispute Resolution Law Firm of the Year was rated by LawAsia, one of the leading peer-reviewed publications in Asia, as a Top 100 Lawyer in Korea. Sean Hayes is one of the only non-Korean attorneys on this Korean Lawyer “A-list” and the only non-Korean that was on the list each year the list was published. Sean Hayes is the first non-Korean attorney to have worked for the Korean court system (Constitutional Court of Korea) and one of the first
Continue readingLiability of Persons who have Lent their Names for Korean Business Transactions
In Korea, the person who is actually the subject of rights and obligations, often differs from the nominee such as the holder of licenses or business registrations. Sometimes those with assets use these nominee/proxies to attempt to avoid liability. As such, under certain conditions, a counterparty to a transaction is protected, under the Korean Commercial Act, by acknowledging the liability of not only the party to the transaction, the name borrower, but also the nominee (name lender). See: Korea’s Real Name Transaction Act Strengthened for additional details on nominee
Continue readingTop Law Firms in Korea for English-Speaking Clients According to 10 Magazine
We are proud to note that 10 Magazine listed us in an article titled 10 Lawyers in Seoul for English-Speaking Expats in Korea. IPG is listed under the title Large/International Law Firms. Thanks for the mention 10 Magazine. We love your work. IPG Legal and many of our lawyers were listed as top attorneys by numerous legal rating services and magazines. Sean Hayes was, also, rated a top 100 Attorney. To learn more about IPG Legal please check out our website at: IPG Legal. The article by 10
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