A Study on Plans for Efficient Administration of South-North Commercial Arbitration Commission

남북상사중재위원회 운영의 효율화 방안 연구

To realize the spirit of the South-North Joint Declaration of June 15, 2000, the competent authorities of the South and the North of Korea have reached two Agreements to settle commercial disputes as well as to set up an arbitral organization called 'South-North Commercial Arbitration Commission'. The Commission is an institutional organization for settlement of commercial disputes arising from trade and investment between south and north Korea. Under the situation, it is becoming a problem of vital importance how to manage and control the Commission for prompt and effective settlement of south-north commercial disputes. While analyzing the above two Agreements for dispute-settlement mechanism, the author proposes desirable ideas and directions in connection with the Commission as follows: 1. First of all, the Commission should become a central common system for settlement of commercial disputes which meets the demand of capitalistic market economy. 2. The Authorities of south and north Korea should recognize that the availability of prompt, effective and economical means of disputes resolution such as arbitration and conciliation to be made by the Commission would promote the orderly growth and encouragement of south-north trade and investment. 3. The Korean Commercial Arbitration Board(KCAB) should be designated as the Arbitration Commission of South Korea because the KCAB is the only authorized institution in South Korea, statutorily empowered to settle any kind of commercial disputes at home and abroad.