If you need to enforce a foreign arbitral award against a Korean company, there is one critical step before you can touch any Korean assets: obtaining a Korean court enforcement decision. You have an award from the ICC, SIAC, LCIA, CIETAC, or another recognized institution. The Korean company on the other side has not paid. Their assets — bank accounts, real estate, receivables — are in Korea. Until a Korean court issues an enforcement decision (jibhaeng gyeoljeong), no compulsory measures against those assets are possible.

The Legal Framework for Enforcing Foreign Arbitral Awards in Korea

Korea has been a signatory to the New York Convention since 1973. More than 170 countries are party to the Convention, and Korea generally recognizes and enforces many foreign arbitral awards under that framework. Still, enforceability depends on the seat, treaty coverage, and any refusal grounds raised in the particular case.

Korean courts are generally pro-enforcement, and refusals on public policy grounds are relatively rare and narrowly applied. Korean courts do not re-examine the merits of a foreign award, but they may still review the statutory grounds for refusing recognition or enforcement, including due process, scope, arbitrability, and public policy.

The Procedure, Step by Step

  1. Document preparation — The award and the arbitration agreement should be prepared for submission with Korean translations. In practice, documentary and translation requirements can vary by court and case, so certification and translation form should be checked against the filing court’s current practice before submission.
  2. Filing the application — An application for an enforcement decision (jibhaeng gyeoljeong) is filed with the competent Korean court under Article 39 of the Korean Arbitration Act.
  3. Responding to objections — The respondent may raise defenses, most commonly a public policy argument. These are rarely successful but must be addressed in writing.
  4. Court decision — Once the decision is issued and becomes final, compulsory execution against the respondents Korean assets can begin.
  5. Execution — Options include seizure and auction of real estate, attachment of bank accounts, and garnishment of trade receivables.

Key Deadlines and Practical Points

Limitation issues should be reviewed case by case. Before assuming the enforcement window has closed, counsel should analyze the applicable prescription period and when it began to run under the governing law and the procedural posture of the award.

For an uncontested or lightly contested case, the process may be relatively efficient, but the timeline can vary significantly depending on service, translation, objections, and the court’s docket.

Before You File: Know What You Can Recover

Before committing to the enforcement process, it is worth confirming that the respondent actually has traceable assets in Korea sufficient to make recovery worthwhile. We offer a credit investigation and asset search service in Korea — a practical first step to assess collectability before the full enforcement procedure begins.

Why the Right Law Firm Matters

Enforcement of a foreign arbitral award sits at the intersection of international private law, the Korean Arbitration Act, and civil execution procedure — an area that calls for focused expertise. For claims in the range of hundreds of millions of Korean won (roughly USD 50,000–1,000,000), the economics of legal representation are a real consideration. Yeohe Law Firm offers transparent, competitive rates for this work. Before committing to a retainer, we assess the size of your claim, the respondents traceable Korean assets, and the realistic probability of collection — so you can make an informed decision before spending on legal fees.

📌 Enforcement of Foreign Arbitral Awards in Korea — Full Service Overview (including credit investigation)

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