FOR IMMEDIATE PRESS RELEASE
27 May 2013 was a day of celebration as it marks a new chapter for the Korean arbitration community with the inauguration of the Seoul International Dispute Resolution Centre (Seoul IDRC). This is also a momentous chapter for the Hong Kong International Arbitration Centre (HKIAC) as it opens its first overseas office in Korea.
Hong Kong’s representatives at the Inauguration of the Seoul IDRC (left to right) - Dennis Kwok (Legislative Council Member, HKSAR ), Lord Goldsmith QC (HKIAC Council Member), Chiann Bao (Secretary-General, HKIAC), Huen Wong (Chairman, HKIAC), James Chun (Counsel, HKIAC), Justin D’Agostino (HKIAC Council Member)
The Seoul IDRC has opened at a time when the Korean arbitration community is going from strength to strength. With caseload trends of HKIAC and other institutions with presence in Asia on the rise with cases involving Korean parties, the centrally located Seoul IDRC offers state-of-the-art facilities to those who wish to conduct arbitrations in Asia. According to Lord Peter Goldsmith QC, HKIAC Council Member, the opening of the Seoul IDRC exemplifies the growth of international arbitration to Asia. “It offers a purpose built facility which is not tied to any particular institution or set of arbitration rules and so is available to parties to handle any dispute in the region. It shows foresight on the part of HKIAC that we are the first institution to participate in the Seoul IDRC demonstrating our innovative and user friendly approach to dispute resolution."
Setting up a branch office in Seoul represents HKIAC’s commitment to Korea and support of the Seoul IDRC. Given Hong Kong’s geographic proximity to Korea and HKIAC’s strong and collaborative relationship with the Korean arbitration community over the years, establishing such an office was an easy decision. HKIAC intends to not only focus on enhancing its visibility in Korea but also to promote the Seoul IDRC and its services in Hong Kong and abroad.
In addition to the five delegates from Hong Kong (as pictured above), over 150 attendees attended the opening ceremony.
About The Hong Kong International Arbitration Centre
HKIAC was established in 1985 by a group of leading business and professional people in Hong Kong to be the focus for dispute resolution in Asia. It has been generously funded by the business community and by the Hong Kong Government but it is completely independent of both and financially self-sufficient.
The HKIAC aims to assist parties to resolve their disputes by arbitration and by other means of dispute resolution. It also places great emphasis on providing online dispute resolution services in a wide variety of areas including intellectual property and information technology.
To learn more about the HKIAC, please visit www.hkiac.org.
Hong Kong International Arbitration Centre
Tel: (852) 2525 2381
Fax: (852) 2524 2171