COMPARATIVE ANALYSIS OF INTERNATIONAL COMMERCIAL ARBITRATION PROCEDURES OF THE DPR KOREA, RUSSIA AND CHINA

Abstract

At present, the DPR Korea, Russia and China are actively promoting international commercial transactions with each other, aiming at economic development. In light of potential international disputes arising in international commercial exchange and cooperation, the three countries have each established diverse dispute resolution systems, focusing on the establishment of legal regimes related to commercial arbitration. Comparative analysis of the arbitration procedures stipulated in the three countries’ laws regarding international commercial arbitration is not only beneficial to promoting the ever-expanding exchange and cooperation between the countries but also significant in understanding international commercial arbitration system and legislative experiences in the countries. However, hardly any comparative studies on international commercial arbitration procedures of these three neighboring countries, the DPR Korea, Russia and China, have been carried out so far. Among relevant bibliography, a few articles dealt with national laws governing international commercial arbitration and arbitration procedures regulated in it, but hardly any articles covering a comparative analysis of the procedures of international commercial arbitration in the three countries can be found.

In fact, the arbitration procedures stipulated in the international commercial arbitration laws of the DPR Korea, Russia and China have much in common, regardless of whether or not they have adopted the requirements of the UNCITRAL Model Law on International Commercial Arbitration. However, there are certain differences in relation to the specific aspects of international commercial arbitration procedures, as the socio-economic systems and reality of each country are dissimilar.

The present paper aims at contributing to the stabilization of economic and transactional relations between these neighboring countries by helping the legal and natural persons of the DPR Korea, Russia and China to solve the conflicts that might arise between the countries on the basis of a correct understanding of the arbitration procedures prescribed in the international commercial arbitration laws of the countries concerned.

Based on the review of the changes in the legal regulations on arbitration procedures that have been carried out in the DPR Korea, Russia and China, the articles of arbitration procedures stipulated in international commercial arbitration laws of the three countries are compared and analyzed according to the general order of arbitration procedures, and the similarities and differences are demonstrated.