Seminar entitled ‘South Korea: 11th International Arbitration & Corporate Crime Summit’

On July 23, Lee & Ko sponsored a seminar entitled South Korea: 11th International Arbitration & Corporate Crime Summit, hosted by Legal Plus.

The day began with an Opening Address from Dr. Eun Young Park, Chair of Lee & Ko’s Global Disputes Group, who spoke on “The evolution of arbitration in Korea up to 2025, and the developments we can expect over the coming year.” Dr. Park reflected on the growth and transformation of the Korean arbitration landscape following the IMF crisis and noted the rapidly shifting global risk environment. He further emphasized the increasing risk of disputes in key industries such as healthcare, semiconductors, and electric vehicles, underscoring the importance of ensuring consistency across legal systems at the time of contract drafting.

The first panel discussion focused on negotiation strategies in international arbitration practice. Zac Sharpe, Co-Head of Lee & Ko’s International Arbitration Team, highlighted the practical issues arising from multi-tier dispute resolution clauses, noting that vague drafting can prolong disputes in practice. He stressed the risks of using “condition-precedent” language, the problems associated with ambiguous terminology when it comes to negotiation and mediation, and the importance of reviewing both the purpose and practical utility of such provisions in advance, particularly for joint venture, EPC, and supply contracts.

The second panel discussion addressed construction disputes at the intersection of global and local contexts, with a focus on damages and supply chain issues. The panelists discussed current issues such as the U.S. BABA Act, changes in European procurement regulations, Saudi Arabia’s “NEOM” project, and challenges in claim quantification across Southeast Asia. They pointed out the growing potential for disputes arising from design changes, inadequate contract documentation, and supply chain disruptions.

The third panel explored shareholder, director, and stakeholder disputes involving Korean and foreign companies, with a particular focus on practical strategies for in-house counsels on contract drafting and dispute prevention. Senior Foreign Attorney at Lee & Ko’s International Arbitration Team, referred to a recent case where the absence of a deadlock provision in a shareholders’ agreement resulted in a lengthy arbitration. She highlighted the need for alternative procedures in the event the parties fail to appoint an appraiser under a put-option clause, and emphasized that exit conditions and valuation dates should be set out with clarity.

The fourth panel examined emerging technology-related issues that have gained prominence in recent years, including digital asset tracing, AI-related risks, and global internal investigations. Panelists shared their insights and experiences spanning from cryptocurrency asset recovery, the use of NFT/SBT for process service, AI-driven fraud schemes, to cybersecurity threats, stressing the need for companies to heighten security awareness and proactively prepare for the application of new technologies.

Now in its 11th year, the seminar offered a multi-dimensional examination of diverse topics—from strategic use of arbitration and mediation in a volatile global disputes environment, to corporate governance disputes, construction claims, and IP and technology-related disputes. Drawing together in-house counsels, government officials, and arbitration practitioners from Korea and beyond, , the event served as a valuable platform for exchanging knowledge and ideas.