국제투자분쟁의 해결

Abstract

As with an increasing number of new bilateral investment treaties between

Korea and other countries, there is a strong need to study legal implications

of individual provisions under bilateral investment treaties. Bilateral investment

treaties contain many substantive provisions, such as the scope of investment,

general standards for protection of investment, takings/compensation and

transfers. In addition, one of the essential components of bilateral investment

treaties is dispute settlement-related provisions.

What is striking in respect of investment-related dispute settlement is that

investors can bring an arbitration against the hosting government, which is

normally covered by the Washington Convention and administerd by

ICSID(International Center for Settlement of Investment Disputes). This paper

focuses on this unique type of investment dispute settlement procedures. While

introducing relevant provisions of the Washington Convention, this paper

demonstrates the practical importance of how to draft individual dispute

settlement-related provisions. As a related matter, subrogation provisions will

be dealt with at the last part of this paper.

Dispute settlement provisions's importance in negotiating bilateral investment

treaties cannot be emphasized too much, since without such provisions no

other substantive provisions could be enforced in the end. This paper is

designed to provide investment-related government officials with practical

guidances for their negotiation of bilateral investment treaties with other

nations in the future. Further, the author hopes that this seminal paper in this

area will provoke a series of subsequent legal studies of investment.

As with an increasing number of new bilateral investment treaties between

Korea and other countries, there is a strong need to study legal implications

of individual provisions under bilateral investment treaties. Bilateral investment

treaties contain many substantive provisions, such as the scope of investment,

general standards for protection of investment, takings/compensation and

transfers. In addition, one of the essential components of bilateral investment

treaties is dispute settlement-related provisions.

What is striking in respect of investment-related dispute settlement is that

investors can bring an arbitration against the hosting government, which is

normally covered by the Washington Convention and administerd by

ICSID(International Center for Settlement of Investment Disputes). This paper

focuses on this unique type of investment dispute settlement procedures. While

introducing relevant provisions of the Washington Convention, this paper

demonstrates the practical importance of how to draft individual dispute

settlement-related provisions. As a related matter, subrogation provisions will

be dealt with at the last part of this paper.

Dispute settlement provisions's importance in negotiating bilateral investment

treaties cannot be emphasized too much, since without such provisions no

other substantive provisions could be enforced in the end. This paper is

designed to provide investment-related government officials with practical

guidances for their negotiation of bilateral investment treaties with other

nations in the future. Further, the author hopes that this seminal paper in this

area will provoke a series of subsequent legal studies of investment.