KCAB and RAC Conclude Memorandum of Understanding 

Gerard David

The Judgement of Cambyses, 1498

Korean Commercial Arbitration Board (KCAB) and Russian Arbitration Center Conclude Memorandum of Understanding

The Russian Arbitration Center at the Russian Institute of Modern Arbitration (RIMA) is honored to announce that it has concluded a Memorandum of Understanding with the Korean Commercial Arbitration Board (KCAB) to reflect joint commitment of both arbitral institutions to closely cooperate in the promotion of international arbitration among Korean and Russian companies.

The signing ceremony took place in the office of the Korean Commercial Arbitration Board (KCAB) in Seoul International Dispute Resolution Center on 24 December 2018. Andrey Gorlenko, the Executive Administrator of the Russian Arbitration Center, on the one hand, and Professor Hi-Taek Shin, Chairman of KCAB INTERNATIONAL, on the other hand, participated in the signing ceremony.

According to the terms of the Memorandum of Understanding, the Russian Arbitration Center and the Korean Commercial Arbitration Board agree to consider the possibilities of organizing joint events for the legal communities of Russia and the Republic of Korea. Also, the institutions agree to promote law and arbitration as a means of settling international disputes among the law practitioners and students in the Republic of Korea and Russia.