HKIAC signs a Cooperation Agreement with KCAB International to offer its users hearing facilities in Seoul at a discounted rate.
Hong Kong International Arbitration Centre (HKIAC) has entered into a Cooperation Agreement (Agreement) with the Korean Commercial Arbitration Board. Under the Agreement, KCAB and HKIAC will promote the use of the Seoul International Dispute Resolution Center (Seoul IDRC) for arbitral hearings in cases administered by HKIAC held in Seoul and the use of HKIAC’s facilities for arbitral hearings in cases administered by KCAB held in Hong Kong. The CA offers discounted rates to users for the institutions’ respective facilities. The agreement follows a hearing in an HKIAC-administered arbitration held at Seoul IDRC earlier this year.
The signing ceremony took place on 20 September 2019 between Prof. Hi-Taek Shin, Chairman of KCAB International, and Ms. Sarah Grimmer, Secretary-General of HKIAC, following the Closing Address of the 8th Asia Pacific ADR Conference, the flagship event of the Seoul ADR Festival.
Prof. Hi-Taek Shin, Chairman of KCAB International, said, "We look forward to this fruitful collaboration with HKIAC to promote the Seoul IDRC and the HKIAC Facilities to the users of arbitration and alternative dispute resolution in the Asia Pacific region."
Ms. Sarah Grimmer, Secretary-General of HKIAC, said, "We are delighted to work closely with KCAB International and Seoul IDRC in this way to enhance the options available in Korea and Hong Kong to dispute resolution users.”
Hong Kong International Arbitration Centre
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