• Journal of Arbitration Studies
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• v.16 no.3
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• pp.53-89
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• 2006

At its thirty-second session(Vienna, 17 May-4 June 1999), the UNCITRAL decided that the priority items for the Working Group(Arbitration and Conciliation) should include enforceability of interim measures and the requirement of written (on for the arbitration agreement. The Working Group, at its forty-third session(Vienna, 3-7 October 2005), it had undertaken a detailed review of the text of the revised article 17 of UNCTTRAL Model Law on International Commercial Arbitration, and it had resumed discussions on a draft model legislative provision revising article 7, paragraph (2) of UNCITRAL Model Law. The purpose of this paper is to make research on the contents and issues of the draft legislative provisions on interim measures and preliminary orders, and on the form of arbitration agreement which the Working Group discussed and adopted at its forth-fourth session(New York, 23-27 January 2006). The draft legislative provisions on interim measures and preliminary orders are composed of the following provisions : Article 17-power of arbitral tribunal to order interim measures; article 17 bis-conditions for granting interim measures; article 17 ter-applications for preliminary orders and conditions for granting preliminary orders; article 17 quater-specific regime for preliminary orders; article 17 quinquies- modification, suspension, termination; article 17 sexies-provision of security; article 17 septies-disclosure; article 17 octies-costs and damages; article 17 novies recognition and enforcements; article 17 decies-grounds for refusing recognition or enforcement; article 17 undecies-court-ordered interim measures. There are the following issues in the draft legislative provisions on interim measures and preliminary orders : form of issuance of an interim measures in article 17(2); conditions for granting interim measures in article 17 bis; purpose, function and legal regime of preliminary orders in article 17 ter; obligation of arbitral tribunal to give notice, and non-enforceability of preliminary orders in article 17 quater; burden of proof, interplay between article 17 decies and article 34, and decision on the recognition and enforcement of the interim measures in article 17 decies; placement of article 17 undecies; amendment of scope exception of application in article 1(2). The draft legislative provisions on the form of arbitration agreement are composed of the following provisions : article 7(1) definition of arbitration agreement; article 7(2) arbitration agreement in writing; article 7(3) arbitration agreement if its terms(content) are (is) recorded in any form; article 7(4) arbitration agreement by an electronic communication; article 7(5) arbitration agreement in an exchange of statements of claim and defence; article 7(6) reference to any document containing an arbitration clause. There are the following issues in the draft legislative provisions on the form of arbitration agreement : arbitration agreement in writing in article 7(2); terms or contents of arbitration agreement in article 7(3); arbitration agreement by electronic communication in article 7(4); existence of arbitration agreement in article 7(5); reference to any document containing an arbitration clause in article 7(6); the alternative proposal on article 7; amendment to article 35(2).

• International Journal of Advanced Culture Technology
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• v.2 no.1
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• pp.25-29
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• 2014

China and South Korea have effectively reached a free trade agreement. The deal now faces legal and parliament reviews in the two countries. We need to discuss the recommendations on XML conversion with UN / CEFACT electronic documents. To solve this problem of interworking between these standards, Two kinds of translation rules is proposed for exchanging to UN / CEFACT Tag smoothly. For development and distribution of electronic documents to be conformed to international standards, it is enough to have the role of international activities continue to supply part of the domestic industry and the trends in participation and international standard. Our principal focus is on facilitating national and international transactions, through the simplification and harmonization of processes, procedures and information flows, and so contributing to the growth of global commerce. The agreement with South Korea will be China's ninth bilateral FTA.

• Journal of Korea Trade
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• v.23 no.2
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• pp.76-87
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• 2019

Purpose - This study empirically analyzes the effects of the European Union-South Korea Free Trade Agreement on Korean exports in major sectors. Design/Methodology - This study is based on the augmented gravity model with a panel data set covering 51 countries between the years 2000 and 2015. Findings - Main findings of the present study is that the agreement has affected the chemical sector the most. Fixed effects estimation predicted a positive trade effect of 38.3%, while Poisson maximum likelihood estimation predicted an impact of 4.75% in the chemical export sector. Regression results for the other sectors only show insignificant effects. Originality/value - The findings imply that the effects of the EU-South Korea free trade agreement on the Korean exports are quite specific compared to the European ones, meaning that the Korean government should focus on sector-specific programs to maximize the welfare benefits of the free trade agreement.

• East Asian Economic Review
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• v.25 no.1
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• pp.33-71
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• 2021

Many different approaches and databases have been developed for the evaluation of non-tariff measures (NTMs) and free trade agreements (FTAs). This paper is devoted to the EU-South Korea agreement, which is the first 'second-generation' FTA of the EU, addressing a wide array of non-tariff policies. We review the evolution of NTM types applicable to the EU-South Korea trade relationship and the role of NTMs in ex-ante and ex-post analyses of the agreement. Subsequently a structural gravity model is employed to assess the value added of information on different aspects of FTAs and types of NTMs by evaluating their ability to predict the trade effects of the EU-South Korea FTA. Our results show that, when accounting for information on the components common in modern deep trade agreements, no additional trade effect is attributable to the EU-South Korea FTA. The evolution of NTMs differs considerably across indicators used, but trade predictions are hardly affected. Most specifications point towards a negative effect of bilateral differences in the number of technical barriers to trade (TBT) applied and sanitary and phytosanitary measures (SPS) against which trading partners issued complaints at the WTO.

• Journal of Arbitration Studies
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• v.34 no.2
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• pp.27-44
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• 2024

The lack of consistency and predictability of arbitral awards in the Investor-State Dispute Settlement ("ISDS") mechanism has long been a subject of criticism. In international investment disputes, arbitral tribunals have frequently come up with different interpretations and results on similar investment agreement provisions. The arbitral tribunal's inconsistent decisions raised concerns not only among the parties to the investment dispute but also amongthe arbitral tribunals in other cases, which ultimately led to legal inconsistencies in international investment law. Arbitration awards may have some degree of disagreement in interpretation. However, the systemic inconsistencies that pervade ISDS risk undermining the purpose of the investment agreement system, which is to provide a predictable and stable framework to protect andpromote foreign investment while maintaining a balance with host state regulations. Therefore, this study proposes a plan to resolve this discrepancy and review standards for practical application. Reform of the ISDS mechanism could be a viable option to reduce, to some extent, the inconsistencies in interpretation, if not completely eliminate them. Reforms such as establishingguidelines, promoting cooperation between arbitral tribunals, and codifying the norms of the agreement can provide a means of reducing interpretive inconsistencies and strengthening the legitimacy of the ISDS mechanism. Reforming the ISDS mechanism will require all stakeholders to carefully consider the issues and the scope, nature, and feasibility of eachpotential reform.

• International Commerce and Information Review
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• v.11 no.1
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• pp.379-403
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• 2009

The Purpose of this study is to research the problems of trade restriction for an environment protection. Environmental regulation relate to trade are Convention on International Trade in Endangered Species of Wild Fauna & Flora, Montreal Protocol on Substances that Deplete the Ozone Layer, Kyoto Protocol to the UN Framework Convention on Climate Change, Basel Convention on the Control of Transboundary Movements of Hazardous Wastes & Their Disposal, Cartagena Protocol on Biosafty and WTO Agreement. Regulatory action for environmental protection has economics instrument, command & control, liablity, damage compensation, voluntary agreement. In the case of our country, impact of regulatory action for environmental protection is low. Because is recognized position of developing country yet. For in the balance rules of trade and enviroment, First must satisfy WTO's basic principles and principle of quantitative restrictions prohibition, Second, operation of protection action must reasonable and objective standards Third, must satisfy GATT article 20 (b) clause and (g) protestation each essential factor To grow for environment advanced country, we should do i) using of FTA ii) international cooperation strengthening for developing country position iii) construction of environment information network

• The Journal of Industrial Distribution & Business
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• v.9 no.1
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• pp.89-97
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• 2018

Purpose - The Regional Comprehensive Economic Partnership (RCEP) among 16 countries including South Korea, the largest free trade agreement in the Asia-Pacific region, will be concluded next year. The participating countries decided to pursue a comprehensive and high -quality agreement, while ensuring flexibility considering development level of each country. In this study, trade structures between nations from 2005 through 2016 were examined to see the impact that this agreement will have on Korea and to come up with effective countermeasures. Research design, data, and methodology - The method of analysis includes the analysis of the trade matrix, which is useful for identifying the dependency of the individual countries on the market in the region and the reciprocal dependency of the member countries on the market, and the index of intensity of trade, which is useful for figuring out the share of trade between the parties in total trade. Results - The results showed that first, the international trade coefficients of Vietnam and Philippines are higher than those of China and Japan. Secondly, the international inducement coefficients between China and Japan were high, and that between Indonesia and Burma were low, indicating that Korea's exports did not have much effect on export increase of these countries. Third, as a result of analyzing Korea's trade intensity, it was found that export intensity and import intensity were greater than 1 in Vietnam and Philippines, which shows that there is a high degree of relational bond with these countries. India and Laos countries still have a low level of relational bond, which indicates that there is room for improvement in economic relations when the agreement is concluded. After the signing of the agreement in the future, more diverse industrial structures should be continuously studied. Conclusions - The analysis of trade matrix, trade structure, trade inducement coefficient and trade intensity between Korea and RCEP participating countries shows that the majority of the countries have the high level of economic relationship with Korea. Korea should drive a harder bargain when negotiating the terms of the RCEP, in comparison with the level of the existing FTA agreement excluding Japan.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.23
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• pp.93-127
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• 2004

A contract is made when both parties have reached agreement, or they are deemed to have. After contract the law recognizes rights and obligations arising from the agreement. In order to discover whether agreement was reached between these two parties, we have to analyse the process of negotiation. Recently The People's Republic of China legislated a New Contract Law, which has come into effect since 1st of October 1999. This Law adapts the rules of United Nations(Vienna) Convention on Contracts for the International Sale of Goods and the Unidroit Principles for International Commercial Contracts. And this law is now widely enforced to commercial transactions between individuals, enterprises or other economic organizations of the People's Republic of China and foreign enterprises. Therefore, the foreigner who wish to make a sales contract with Chinese should understand the rules of New Contract Law of China. According to this New Law only a contract which contain offer and acceptance is valid and binding, and it is also pointed out that terms of contact must be certain. Though an oral contract is usually equivalent to a written one, in a case of commercial transactions written contract with signature is desirable. The purpose of this paper is to analyze the new rules of this Law and the new features of their application to commercial transactions in China.

• Journal of Fisheries and Marine Sciences Education
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• v.5 no.2
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• pp.138-146
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• 1993

In accordance with the establishment of 200 nautical miles EEZ regime as a customary international law since the mid - 1980s, the area of global high seas became reduced relatively. On the other hand, the importance of high seas fishing ground became serious for the distant-water fishing states like Korea. But it can be expected that international dispute on the jurisdictional problem of the fishing vessels engaging high sea fishery will occur frequently owing to institutional inertia of the UNLOS Convention on this matter. "The Draft Agreement to Promote Compliance with International Conservation and Management Measures by Fishing Vessels on the High Seas" as an international code of conduct for responsible fishing which was adopted by FAO in 1993 is providing the more consolidating and definiting rules for jurisdictional responsibility of flag states to make completion the loophole of the UNLOS Convention. As a precondition for the effective control and enforcement of activities of the fishing vessels engaging high sea fishery, the Draft Agreement is providing some articles allowing the flag states to hold the rights of granting nationality, fishery permission, fishery supervision and control with punishment for the fishing vessels entitled to fly their own flag. Accordingly it can be evaluated that this Draft Agreement does not deviate on the whole from the traditional practice and the basic legal principle of the UNLOS Convention.

• Journal of Arbitration Studies
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• v.20 no.2
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• pp.27-47
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• 2010

It is well recognized that the availability of prompt, effective and economical means of dispute resolution is an important element in the orderly growth and encouragement of international trade and investment. Increasingly, arbitration, instead of litigation in national courts, has become the preferred means of resolving private international commercial disputes. Under the situation, it will be important thing for arbitral institutions to reach an agreement to promote the dispute settlement of the commercial disputes, for which efforts have been made between the Korean Commercial Arbitral Board(KCAB) and principal arbitration institutions of the foreign countries. Since 1973, the KCAB has entered into many arbitration agreements with well-known foreign institutions of arbitration. If the place of arbitration is not so designated by the parties, it, as a general rule, shall be the country of the respondent(s) under the Korea-Japanese Arbitration Agreement. On the other hand, the U.S.-Korean Commercial Arbitration Agreement maintains 'Joint Arbitration Committee which finally decide the place of arbitration. In 1996, the Korea-Austria Agreement of Cooperation was concluded for the prompt and equitable settlement on an amicable basis of commercial disputes. Under this Agreement, arbitral institutions between Korea and Austria agreed to act as an appointing authority in accordance with the UNCITRAL Arbitration Rules. It is also very important for Korea and China including North Korea to cooperate each other for the settlement of the commercial disputes within the Pan Yellow Sea Economic Bloc(PYSEB). The PYSEB is quickly becoming a distinctive and crucial region in the world sharing geographical proximity, many common historical experiences, and similar cultural norms and values although they have disparities in stages of development, trade and economic policies, and financial and legal frameworks. Finally, it should be considered to establish a central common system for settlement promotion of the commercial disputes within the PYSEB through the arbitration agreement. Such a dispute resolution system was already introduced and established within the area of the NAFTA, and it is called the Commercial Arbitration and Mediation Center for the Americas(CAMCA).