Home > About KCAB > About KCAB > History of the Korean Arbitration System

History of the Korean Arbitration System

The KCAB is the only authorized institution of its kind in Korea, statutorily empowered to settle any kind of commercial dispute under the Act. Apart from its own Rules, the KCAB can also administer arbitration proceedings in accordance with any other Rules as agreed by the parties concerned.

And it should be pointed out that the KCAB does more than render arbitration services. It helps facilitate settlements and guarantee implementation thereof between trading partners at home and abroad involving disputes related various areas.
The KCAB has signed arbitration agreements with 23 nations and cooperative accords with 26 foreign arbitration groups including AAA and ICC Court of Arbitration.

histroy images

1960's KCAB History

    1. March, 1966
    2. The Arbitration Act of Korea is promulgated. The Korean Arbitration
      Act is considered a separate and independent body of law from any
      of Korea¡¯s legal codes.

      Its provisions will prevail in the event of any conflict or inconsistency
      with any of these codes. All arbitrable commercial disputes are
      resolved in accordance with its provisions and the applicable
      arbitration rules of the KCAB unless the parties agree otherwise.

      The Korean Commercial Arbitration Committee was firstly inaugurated as an exclusive administrative institution for the arbitrations of commercial disputes in the Chamber of Commerce of Korea.
    1. October, 1966
    2. Commercial Arbitration Rules are established by International
      Commercial Arbitration Committee.

1970's KCAB History

    1. March, 1970
    2. KCAB is established as an independent arbitration institution,
      originally under the name, ¡®Korean Commercial Arbitration Association¡¯.
    1. April, 1973
    2. Commercial Arbitration Rules are established by Korean Commercial Arbitration Association.

1980's KCAB History

    1. August, 1980
    2. The association is expanded in size and re-named
      the ¡®Korean Commercial Arbitration Board¡¯

1990's KCAB History

    1. October, 1996
    2. The KCAB holds ICCA Seoul Conference.
    1. 1999
    2. Korea becomes the first country in Asia to adopt the 1985 UNCITRAL
      Model Law of Arbitration. The UNCITRAL Model Law is a set of
      legislative provisions put forward to harmonize various national laws
      on arbitration.
      In 1999, Korea was the first country in the region to modernize
      its Arbitration Act in accordance with this international standard.

2000's KCAB History

    1. January, 2005
    2. Under the authorization and approval of the Korean Supreme Court,
      the Arbitration Rules of KCAB (hereinafter "the Rules") were put into
      effect on Jan 15, 2005. The KCAB maintains a Panel of Arbitrators
      under which prominent scholars, lawyers and business people, including foreigners, are brought together to serve as arbitrators
      in accordance with the Act and the Rules.
    1. January, 2007
    2. The KCAB ¡°International Arbitration Rules¡± are established.
      To better address the demands of parties to arbitrations of
      an international character, the KCAB established the international
      rules as an alternative to the standard Arbitration Rules.
    1. April, 2007
    2. The Inter-Korea Commercial Dispute Resolution Centre is established in the KCAB.
      To provide a forum specially equipped to deal with and
      dispose of commercial disputes spanning North and South Korea,
      the KCAB established this facility.
    1. May, 2007
    2. Investor-State Dispute Monitoring Centre is established in the KCAB
    1. November, 2008
    2. The KCAB amends the Arbitration Rules for the sixth time

2010's KCAB History

    1. September, 2011
    2. The KCAB amends both the Arbitration Rules and the International
      Rules for the seventh time and first time respectively.
      The Arbitration Rules are renamed the ¡°Domestic Arbitration Rules¡±.