• Journal of Arbitration Studies
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• v.31 no.1
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• pp.55-81
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• 2021

Awarding interest in international arbitration remains one of the most challenging areas for tribunals and parties given the myriad of issues that arise. This article seeks to provide an overview of how international arbitral tribunals grant delay interest. It reviews the various issues that international arbitral tribunals face concerning pre-award and post-award interest, determining the appropriate interest rate, surrounding simple or compound interest, and the complex issue of choice of law. A comparative context is provided by surveying the laws of major jurisdictions from both the common law and civil law and the regulations of leading arbitral institutions. It concludes with a review of the law, jurisprudence, and practice in Korea related to delay interest and how Korean tribunals under the KCAB Domestic and International Rules have determined delay interest in recent years.