Just recently the Korean Commercial Arbitration Board (KCAB) announced both the appointment of new arbitrators and the adoption of a new Code of Ethics for Arbitrators in 2016. Both changes demonstrate the KCAB’s continued commitment to improving the arbitration system in Korea, something the KCAB has consistently demonstrated in recent years, most recently by amending its International Arbitration Rules. These latest changes will enhance the selection of arbitrator panels, as well as the independence, impartiality, and integrity of each individual arbitrator.
The KCAB currently lists nearly 1,100 arbitrators on the panel, comprised of experienced, respected arbitrators, speaking a dozen languages between them. This year alone, 98 arbitrators have been appointed, with the assistance of the KCAB’s Arbitrator Review Committee. This committee serves to review the selection, appointment, and dismissal of arbitrators at the KCAB, and is comprised of external members. These measures illustrate the KCAB’s dedication to providing the best arbitration service possible.
Planet Depos routinely covers arbitrations throughout Asia. With reporters and IT support staff living all over the region, their services are available at little to no travel costs. For information on scheduling stenography services for arbitration proceedings in Korea or elsewhere, contact the Planet Depos International Team at 888.433.3767 or international@planetdepos.com.
