AAA-ICDR Event (In-person)
"AAA-ICDR Korea Advisory Committee Meeting |
Out of Covid Pandemic & Into the Future; Lessons, Potentials & Opportunities"
I Event Description
Session 1 (Invite Only - 18:00 PM (KST))
Title: AAA-ICDR Korea Advisory Committee Meeting
1. Pandemic and its impact on AAA-ICDR operation
Every sector of the economy felt the effects of the COVID-19 pandemic. We saw numerous businesses being forced to make the painful decision of filing for bankruptcy. During these difficult times, the priority of AAA-ICDR remained the well-being of our employees, parties, arbitrators, mediators, and others who use our services. Accordingly, the AAA-ICDR formulated a successful system to organize and accommodate virtual hearings to minimize the impact on health of our users while assuring an efficient way of administering cases.
During this session, the speakers will highlight the practical difficulties faced in formulating a completely virtual and seamless case management system spanning from filing of case till delivery of award and how AAA-ICDR converted the “pandemic chaos” into “organization” in a rather difficult time.
2. New Rules
AAA-ICDR revised its 2014 arbitration rules and 2008 mediation rules, issuing a revised set of rules that entered into force on March 1, 2021. This segments will focus on the amendments to the ICDR Arbitration Rules and how the new rules addresses the concerns of users' desire for more speedy and cost-effective dispute resolution procedures, the increasing use of remote hearings, risks related to data protection and cybersecurity.
3. Moving Forward in 2023
Having powered through the most difficult times as discussed earlier and with the resumption of cross-border movement, AAA-ICDR current objective is to revive its physical presence in Asia and continue providing efficient round the clock case management services world over with a specific focus of its Asian stake-holders. In this segment we will speak about our future plans for Asian countries specifically Korea.
1. What does Korea need from international ADR?
This will be a panel discussion where the speakers will discuss the challenges faced by the Korean parties with respect to: selection and appointment of arbitrators; dealing with cultural differences in international arbitration and enforcement of award in Korea to name a few. The speakers will be sharing their personal experiences of arbitrations and mediation involving Korean parties.
2. What should AAA-ICDR do to help Korean parties?
After taking note of the challenges faced by Korean parties the speakers will discuss the perspective solution and a way forward from an arbitral institutions perspective:
a. Diversity: Inclusion arbitration from Korea into the AAA-ICDR’s pool of arbitrators
b. Rules training: AAA-ICDR plans to carry out rules training for its stakeholders to provide a better visibility and to increase predictability of the arbitration process before the parties initiate arbitration
c. The panel will also invite questions and suggestions from the audience.
Session 2 (Open to public - 19:00 PM (KST))
Title: Out of Covid Pandemic & Into the Future; Lessons, Potentials & Opportunities.
1. The lessons we learned
The objective of the discussion will be critically analyze the issues faced of ADR users in the past couple of years. The pandemic has instilled a feeling of economic instability amongst the parties which largely impacted the ADR ecosystem. Further, the current geo-political issues has only enhanced the economic instability. Despite this, Asia has been consistently emerging as a powerful economy. In this session we will point wise discuss the measures undertaken by AAA-ICDR to build visibility for our stakeholders, its impact and a way forward and will invite steps for inmrovement.
2. Potentials we discovered and how to utilize them
The pandemic and the geo-political changes have also showcased certain potentials, for instance, remote hearings and the use of technology in administering cases. The resumption of in-person hearing and working model has been receiving a mixed reaction. During this discussion we aim to venture into ways to utilize these potential to the fullest while recognizing the undeniable need for human connection.
3. What would the future look like?
AAA-ICDR’s current case load for 2022 is 445,631 and counting which in itself is an indication of the future. Despite the geographical tensions, Asia is seeing an increase in cross-border transactions. In this session, the speakers will identify the upcoming sectors and deliberate on how these sector’s needs can be best catered to.
Since 1926, AAA-ICDR has been consistently working towards improvement. With our current focus being Asia, we endeavor to utilize our Asia CMC to its maximum potential to cater to the demands of our Asian stake-holders.
Date: 8 November 2022, Tuesday
Time: 18:00 - 20:00 (KST)
Venue: Hearing Room 6, 24F, Seoul IDRC
Michael Lee (VP & Head of Asia, AAA_ICDR
Aastha Chawla (Director, AAA ICDR Asia CMC)
Hong Seok Kim (Chair, AAA-ICDR Korea Advisory Committee)
Heehwan Kwon (Director, KCAB INTERNATIONAL)