Recognition and Enforcement of Foreign Judgments and Arbitral Awards

How to Enforce Foreign Judgments in Korea

To carry out compulsory enforcement on assets in Korea based on a judgment from a foreign court or an award from an arbitral tribunal, you must first obtain an enforcement judgment from a Korean court.

YEOHAE LAWFIRM provides expert legal services to help you obtain the necessary enforcement judgment to enforce your foreign judgment in Korea.

Credit Investigation (Due Diligence)

Are you concerned that the Korean company may lack sufficient assets for collection even after obtaining an enforcement judgment?

YEOHAE LAWFIRM offers a cost-effective credit investigation service, more affordable than filing for an enforcement judgment, to assess the financial standing of the Korean company and determine the likelihood of successful debt recovery.

However, if the opposing party is a large Korean corporation or another entity with demonstrable financial solvency, it is often more efficient in terms of time and cost to proceed directly with filing a lawsuit for an enforcement judgment rather than conducting a preliminary credit investigation.

Furthermore, conducting a credit investigation before entering into a transaction can be a proactive measure to prevent potential business risks.

YEOHAE LAWFIRM also provides legal advisory services to mitigate transactional risks through pre-transactional credit investigations and other due diligence measures.

Enforcement Judgment

A lawsuit for an enforcement judgment in a Korean court is not a process to re-litigate the merits of the case, such as the right to receive payment for goods or damages. Instead, it is a procedure to examine whether the foreign court's judgment was rendered through a fair process and whether its content violates fundamental moral beliefs and the social order of Korea.

Article 217 of the Korean Civil Procedure Act requires that all of the following conditions be met for a foreign judgment to be recognized:

The foreign court's international jurisdiction is recognized under the principles of international jurisdiction pursuant to the statutes or treaties of the Republic of Korea.

The defeated defendant was served with the complaint or its equivalent and a notice of the hearing date or an order in a lawful manner with sufficient time to defend (excluding cases of service by public notice or similar methods), or the defendant responded to the lawsuit even if not served.

The recognition of the final and conclusive judgment does not violate the public policy or good morals of the Republic of Korea, in light of its content and the judicial proceedings.

Reciprocity is guaranteed, or the requirements for recognition of a final and conclusive judgment in the country of the foreign court are not significantly imbalanced and do not substantially differ in important aspects from those in the Republic of Korea.

YEOHAE LAWFIRM offers pre-litigation consultations to assess the probability of obtaining an enforcement judgment from a Korean court for your foreign court judgment.

Recognition and Enforcement of Foreign Arbitral Awards under the New York Convention

The Republic of Korea is a signatory to the United Nations Convention on the Recognition and Enforcement of Foreign Arbitral Awards (the "New York Convention").

The recognition and enforcement of foreign arbitral awards subject to the New York Convention are governed by the terms of the Convention (Article 39(1) of the Korean Arbitration Act).

The grounds for refusal of recognition and enforcement of a foreign arbitral award are as follows:

Recognition and enforcement of the award may be refused, at the request of the party against whom it is invoked, only if that party furnishes to the competent authority where the recognition and enforcement is sought, proof that:
(a) The parties to the agreement were, under the law applicable to them, under some incapacity, or the said agreement is not valid under the law to which the parties have subjected it or, failing any indication thereon, under the law of the country where the award was made; or
(b) The party against whom the award is invoked was not given proper notice of the appointment of the arbitrator or of the arbitration proceedings or was otherwise unable to present his case; or
(c) The award deals with a difference not contemplated by or not falling within the terms of the submission to arbitration, or it contains decisions on matters beyond the scope of the submission to arbitration, provided that, if the decisions on matters submitted to arbitration can be separated from those not so submitted, that part of the award which contains decisions on matters submitted to arbitration may be recognized and enforced; or
(d) The composition of the arbitral authority or the arbitral procedure was not in accordance with the agreement of the parties, or, failing such agreement, was not in accordance with the law of the country where the arbitration took place; or
(e) The award has not yet become binding on the parties, or has been set aside or suspended by a competent authority of the country in which, or under the law of which, that award was made.

Recognition and enforcement of an arbitral award may also be refused if the competent authority in the country where recognition and enforcement is sought finds that:
(a) The subject matter of the difference is not capable of settlement by arbitration under the law of that country; or
(b) The recognition or enforcement of the award would be contrary to the public policy of that country.

Recognition and Enforcement of Foreign Arbitral Awards NOT Subject to the New York Convention

The recognition and enforcement of foreign arbitral awards not subject to the New York Convention follow the same requirements and procedures as those for the recognition and enforcement of foreign court judgments.

Methods of Compulsory Enforcement

In the Republic of Korea, compulsory enforcement is conducted by an enforcement court or an enforcement officer affiliated with the court.

For monetary claims, available methods of compulsory enforcement include:

Compulsory auction and compulsory administration of the debtor's real estate.

Enforcement against ships and other assets.

Enforcement against tangible movables.

Enforcement against claims and other property rights.

For non-monetary claims, available methods of enforcement include:

Compulsory delivery of possession.

Indirect compulsion.

In addition, there are other systems such as:

A property disclosure application, which compels the debtor to disclose their assets, with potential for confinement for non-compliance.

An application for registration on the defaulter list, which restricts the debtor's credit transactions.

Special enforcement methods are also available in family law cases.

YEOHAE LAWFIRM reviews each case to determine the most efficient method of enforcement and proceeds with the most suitable option for our clients.

Excellent Lawyer Award from the Korean Bar Association

YEOHAE LAWFIRM (Managing Partner Kim, Pyong-ho) has been honored with the Excellent Lawyer Award by the Korean Bar Association for exemplary advocacy and professional excellence.

Managing Partner Kim, Pyoung-ho

2011: Passed the Judicial Examination
2011: Review Committee Member for the 1st Attorney Examination, Ministry of Justice
2011: Review Committee Member for the 54th Judicial Examination, Ministry of Justice
2013: Civil Mediator, Seoul Central District Court
2013: Acting Prosecutor, Jeonju District Prosecutors' Office
2013: Professional Training, Office of National Assembly Member Lee Chun-seok
2013: Researched U.S. Government Procurement Laws, KOTRA Washington, D.C.
2015: Member, International Committee of the Korean Bar Association
2015: Member, School Violence Countermeasures Committee, Seoul Seo-i Elementary School
2017: Legal Advisor, Korea Paragliding Association
2017: Member, Disciplinary Committee of the Seoul Bar Association
2017: Adult Guardian, Seoul Family Court
2020: Delegate, The Korean Society of Law
2020: Member, Regulation Deliberation Committee, Seoul Entrepreneurs' Association
2020: Member, Committee for the Protection of Teachers' Rights, Seoul Seo-i Elementary School
2021: Young Lawyer Award, Korean Bar Association
2021: Excellent Lawyer Award, Korean Bar Association
2023: Member, Administrative Disposition Deliberation Committee, Ministry of Land, Infrastructure and Transport

Education: B.S. in Physics, Yonsei University
Languages: Korean, English

Certifications and Awards

Representative Cases