A Study on the Applicability of MFN Clause for Investment Dispute Settlement Provisions: Focusing on the ICSID Arbitration Cases

투자분쟁해결규정에 MFN 조항의 적용여부에 관한 연구: ICSID 중재사례를 중심으로

Whether an investor can invoke a dispute settlement procedure stipulated in other BIT based on the MFN clause in the original BIT is an important issue. There is a difference in the interpretation of MFN clause in which the scope of the treatment stipulates the slightly different contents for each investment treaty. Therefore, this study considered ICSID arbitration cases related to the applicability of MFN clause for investment dispute settlement provisions. There are two different approaches for the applicability of MFN clause by arbitral tribunals. At first, the expanded interpretation of the MFN clause can be applied to procedural regulations, in that the purpose of the investment treaty is to protect foreign investors and to ensure their status. So, foreign investors can invoke a BIT of a third country that is advantageous to them. Second, the limited interpretation of the MFN clause can not be applied to procedural regulations. Without explicit regulation, the term treatment can not be considered to include dispute resolution provisions. And the BIT that the host state has concluded with third country is a treaty that applies only to the contracting party, so it can not be used by foreign investors of other nationality. Therefore, this study suggests concretely stipulating the scope of MFN clause under the investment treaty, highlighting that certain restrictions should be applied to the MFN clause. Furthermore, it is required continually investigating and analyzing the database of the scope of MFN clause.

투자협정상의 MFN 조항을 실체적인 규정 외에 절차적인 규정에까지 적용할 수 있는지에 대한 논의는 보호 범위를 결정하기 때문에 중요한 의의를 가진다. 그러나 투자협정마다 MFN 조항에서 대우의 범위를 조금씩 상이하게 규정하고 있어 이에 대한 해석의 차이가 존재한다. 그러므로 본 연구는 ICSID에서 판정한 중재사례에 초점을 맞추어 국제투자분쟁에서 외국인투자자가 원 투자협정상의 MFN 조항을 통하여 다른 투자협정상에 규정된 분쟁해결절차를 원용할 수 있는지를 분석함으로써 MFN 조항의 적용범위를 획정할 수 있는 기준들을 도출하여 유용한 시사점 및 실무적인 지침을 제시하고자 한다.