Resumen de Korea's Arbitration Act is revised for a new world
The article reports that Korean Commercial Arbitration Board (KCAB) has promulgated new International Arbitration Rules that came into effect on June 1, 2016 and also adopted a Code of Ethics for Arbitrators and the long-awaited amendment of the Korean Arbitration Act. It mentions that old Act was in line with the 1985 UNICTRAL Model Law on international commercial Arbitration. It also mentions that the simplification of the recognition and enforcement of arbitral awards
