International Arbitration Cases: Korea 14%, Singapore 91%

Published 15 Jul.2025 07:03(KST)

The recent number of international arbitration cases handled by the Korean Commercial Arbitration Board (hereinafter referred to as 'KCAB') remains significantly lower than that of its Asian competitors, the Singapore International Arbitration Centre (SIAC) and the Hong Kong International Arbitration Centre (HKIAC). In 2024, KCAB handled a total of 349 arbitration cases. Of these, only 48 were international arbitration cases, accounting for just 13.8% of the total.

In contrast, SIAC handled a total of 625 arbitration cases in 2024. The number of international arbitration cases reached 566, representing 90.6% of the total. HKIAC shows a similar trend. Although HKIAC's total number of arbitration cases in 2024 was 352, a figure comparable to KCAB, 76.4% (269 cases) were international arbitration cases, highlighting a stark difference.

Proportion of International Arbitration Cases. Legal Times.

For Korea to be chosen as a 'seat' of arbitration, institutional support at the national level is essential. The United Kingdom and Singapore have recently amended or are reviewing their arbitration laws to further enhance their competitiveness as seats of arbitration.

An attorney who serves as an arbitrator at overseas arbitration institutions stated, "The international arbitration market operates strictly according to the principles of supply and demand in a market economy," and added, "KCAB started as a government-funded institution, but to make a greater leap forward, it must gain recognition and trust from disputing parties such as global corporations and countries."

He commented, "The reason the London Court of International Arbitration (LCIA), SIAC, and HKIAC have become the most preferred institutions for resolving international commercial disputes is due to the dedicated efforts made by each country," and emphasized, "For KCAB to be chosen by the market and become an authoritative arbitration institution, it must secure a large pool of capable arbitrators." He also added, "Efforts should be made to lower the barriers so that domestic companies can more readily turn to KCAB, and to provide the best possible services."