[Munwha News] The AAA ICDR, the world’s largest dispute settlement agency, has set up an advisory committee in South Korea. It is the first time in Korea that the American Arbitration Association has established an advisory committee in another country.
According to related industries on the 24th, the U.S. Arbitration Association held a launching ceremony for the “International Arbitration Korea Advisory Committee” at the Korea Press Center on the 21st with senior vice president Richard Naimark and appointed lawyer Kim Hong-seok (photo), the head of the International Arbitration and Cooperation Group (IAAG), as its chairman. About 30 people, including former Strategy and Finance Minister Park Jae-wan, SK Group advisor Park Woo-kyu and Korea University professor Moon Hyung-koo, were appointed as advisors at the advisory committee ceremony.
The International Arbitration Center of the American Arbitration Association was established under the Federal Arbitration Act enacted by the U.S. Congress in 1926 as part of its national policy, and is the world’s largest dispute settlement agency that resolves more than 1,000 international arbitration cases and more than 180,000 disputes in the U.S. every year. Chairman Hong-Seok Kim said, “I think that the reason for being elected as the chairman has to do my experience in a real business as a lawyer, a former senior attorney at the Samsung Corning Precision Materials and with MBA degree received from Carnegie Mellon University of the United States. “The importance of Asia in the international dispute market including Korea and China and Japan is also a major reason why the American Arbitration Association has established an advisory committee in Korea,” he added.
임대환 기자 hwan91@munhwa.com
Article from
http://www.munhwa.com/news/view.html?no=2014032401032924306002
English 
Korean