Statutes of the Republic of Korea

Article 1 (Purpose)

The purpose of this Act is to invigorate arbitration as a means of resolution of domestic and international disputes by determining matters necessary for promoting the arbitration industry, and to contribute to developing the national economy by laying foundations for promoting the arbitration industry in Korea so as to be developed into the center of arbitration.

Article 2 (Definition)

The terms in this Act shall be defined as follows:

1.	The term “arbitration” means arbitration as defined in subparagraph 1 of Article 3 of the Arbitration Act;

2.	The term “arbitration industry” means various industries related to facilities for the dispute resolution, services, etc. necessary for attracting, examining, etc. of the arbitration;

3.	The term “facilities for dispute resolution” means facilities prescribed by Presidential Decree as facility necessary for the progress of all types of examining, attracting and educating arbitration, etc. for the dispute resolution as well as the arbitration;

4.	The term “foundation for promoting arbitration industry” means the facility for dispute resolution, professional manpower, statutes, system, research, public relations, etc. which support and accelerate the invigoration of arbitration industry in Korea.

Article 3 (Establishment, etc. of Master Plan to Promote Arbitration Industry)

(1)	The Minister of Justice shall establish and implement the master plan for promotion of arbitration industry every five years (hereinafter referred to as the “master plan”) including matters of the following subparagraphs for promoting the arbitration industry:

1.	Matters concerning invigorating and attracting arbitration;

2.	Matters concerning the installation and operation of facilities for dispute resolution;

3.	Matters concerning the development of professional manpower for the arbitration;

4.	Matters concerning research on and public relations for the arbitration;

5.	Matters necessary for creating foundations for promoting the arbitration industry.

(2)	The Minister of Justice may request the cooperation necessary for the effective implementation of the master plan from the head of the relevant administrative agency and the head of local government.

(3)	Matters necessary for the establishment and implementation of the master plan shall be prescribed by Presidential Decree.

Article 4 (Creating Foundation to Promote Arbitration Industry)

The Minister of Justice may advance the following projects for creating the foundation to promote the arbitration industry:

1.	Installation and operation of facilities for dispute resolution;

2.	Research and international cooperation for creating the foundation to promote the arbitration industry;

3.	Other projects prescribed by Presidential Decree as necessary for creating the foundation to promote the arbitration industry.

Article 5 (Promotion of Installation, Invigoration of Operation, etc. of Facilities for Dispute Resolution)

The Minister of Justice may support projects of the following subparagraphs which are proceeded by the institution, corporation or organization entrusted with the project to create the foundation to promote the arbitration industry pursuant to Article 4 for the installation promotion, operation invigoration, etc. of facilities for dispute resolution:

1.	Public relations of facilities for dispute resolution;

2.	Other projects deemed necessary for the installation promotion, operation invigoration, etc. of facilities for dispute resolution and prescribed by Presidential Decree.

Article 6 (Development of Professional Manpower for Arbitration)

(1)	The Minister of Justice shall prepare measures for the effective development of the professional manpower for the arbitration.

(2)

The Minister of Justice may entrust projects of the following subparagraphs by designating the institution, corporation or organization (hereinafter referred to as the “educational managing institution”) prepared with the necessary conditions of the scale of educational facilities, whether to secure the educational personnel, and other requirements prescribed by Presidential Decree:

1.	Education and training for nurturing the professional personnel of arbitration;

2.	Development and operation of the curriculum for effectively cultivating the professional personnel of arbitration.

(3)	The Minister of Justice may provide the support necessary for the business performed by the educational managing institution under the foregoing paragraph (2).

(4)	The Minister of Justice may revoke the designation in cases where the educational managing institution falls under any of the following subparagraphs. However, in cases of subparagraph 1, its designation shall be revoked:

1.	Where it has been designated by false or other unlawful means;

2.	Where it fails to meet the requirement specified under paragraph (2);

3.	Where a project entrusted under paragraph (2) is not performed for more than a year from the date of designation as the educational managing institution.

(5)	Matters necessary for the designation, support, revocation of designation, etc. of the educational managing institution shall be prescribed by Presidential Decree.

Article 7 (Promotion to Attract Arbitration concerning International Dispute)

(1)	The Minster of Justice shall prepare measures necessary for promoting the attraction of the arbitration (hereinafter referred to “international arbitration”) on the international disputes which turn Korea into a hub for arbitration or examination, etc.

(2)	The Minster of Justice may advance projects of the following subparagraphs for promoting to attract international arbitration:

1.	Investigation and research for the international cooperation concerning the arbitration industry;

2.	International exchange of the professional personnel and information of the arbitration industry;

3.	Overseas presentations, joint events held, and cooperation activity with overseas arbitral institutions;

4.	Other businesses necessary for the attraction of the international arbitration as prescribed by Presidential Decree.

Article 8 (Financial Support)

The Minister of Justice may provide financial support to cover the expenses, in part or in whole, necessary for projects falling under the following subparagraphs:

1.	Projects for promoting installation and the invigoration of operation in regard to facilities for dispute resolution under Article 5;

2.	Projects for nurturing the professional personnel of arbitration by the educational managing institution under Article 6;

3.	Other projects being performed within the scope of duties which are commissioned by the institution, corporation or organization entrusted with the duty of the Minister of Justice under Article 9.

Article 9 (Entrustment of Duties)

(1)	Duties of the following subparagraphs among duties of the Minister of Justice pursuant to this Act may be outsourced to an institution, corporation or organization prescribed by Presidential Decree, as prescribed by Presidential Decree:

1.	Projects for creating the foundation to promote the development of the arbitration industry under Article 4;

2.	Projects for promoting the attraction of international arbitration under Article 7.

(2)	The Minster of Justice may provide the support necessary for performing smoothly the relevant duties by the institution, corporation or organization oursourced with duties under paragraph (1).

Article 10 (Guarantee, etc. for Autonomic Operation)

(1)	The independence and autonomy of the institution, corporation or organization subsidized by the State pursuant to this Act shall be guaranteed in its activities and operation.

(2)	The Minister of Justice shall endeavor to ensure the institution, corporation or organization under paragraph (1) is operated independently.

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ARBITRATION INDUSTRY PROMOTION ACT