Public Policy Under Article V (2) of the New York Convention in Korea

• 발행기관: The International Academy of Global Business and Trade
• 저자명: Jongrack Kim
• 간행물 정보: 『Journal of Global Business and Trade』Vol. 7, No. 2 (2011), 1~9쪽, 전체 9쪽
• 주제분류: 사회과학 > 무역학
• 파일형태: PDF
• 발행일자: 2011.10.30

영문 초록

Public policy is one of the two grounds of denying recognition and enforcement of foreign awards initiated by a domestic court under the New York Convention. A broad interpretation of the public policy defense would undermine the strength and effectiveness of the New York Convention. Even though Korea takes a prudential stance on refusal of foreign awards, public policy is not a legal concept in the Korean law system. It is left open to judges in specific cases, and normally read as “fundamental social moral conviction interest in Korea” (the judgment of 14 Feb. 1995, 93Da53054). Fortunately, it is generally accepted that Korean court would interpret the notion of public policy by referring to international public policy rather than to domestic one (the judgment of 10 April 1990, 89 Daka20252). The two principles of interpreting public policy adopted in most jurisdictions should also further work in Korea. Korean judges could consider and maintain the concept of some notorious cases both in the USA and European countries.

목차

I. Introduction

II. Applicable Law on Enforcement of Foreign Awards under the New York Convention in Korea

III. Public Policy in Enforcement of International Arbitral Awards

IV. Grounds For Refusal Under Public Policy

V. Conclusion

Reference:

키워드

public policy recognition and enforcement foreign awards New York Convention