The Asia-Pacific Maritime Arbitration Center is a body in exclusive charge of maritime arbitrations of the Korean Commercial Arbitration Board, which is Korea's sole permanent commercial arbitral institution established in 1966.
Founded in 1966 as a non-profit corporation pursuant to the Arbitration Act (Law No. 1767), the Korean Commercial Arbitration Board has prevented disputes arising from domestic and overseas commercial transactions in advance and has handled more than 7,000 arbitration cases for the last 50 years. By promptly and impartially resolving disputes through arbitration, mediation, and conciliation, the Board helps to foster the sound commercial transaction climate and contributes to the growth of national industrial economy.
Major Responsibilities
- Effective case management
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- Establishment of the Maritime Arbitration Rules reflecting the special characteristics of maritime disputes
- Composition of reliable panel of maritime arbitrators
- Vitalization of maritime arbitration
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- Production and distribution of standard agreement per dispute that includes the maritime standard arbitration clause
- Strategic marketing for each type of disputes that are subject to maritime arbitration
- Hosting of maritime arbitration presentations and global conferences
- Advancement of maritime arbitration
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- Development of nurturing programs of experts in maritime arbitration
- Publication of maritime arbitration decision casebooks and journals
