국제상사분쟁에 관한 외국 판결 및 외국 중재판정의 승인과 집행

Recently, dramatically increased global trade has spurred globalization indispute resolutions concerning international commercial matters. As the two mostpopular and effective dispute resolution mechanisms, international litigation andinternational arbitration play important roles in this area. These disputeresolutions become meaningful when they could be recognized and enforced inthe country where the recognition and enforcement is sought. And this point isthe most critical issue in the field of international litigation and arbitration.105)In Korea, the Korean Civil Execution Act Article 26, Article 27 and the KoreanCivil Procedure Act Article 217 are the regulations for the recognition andenforcement of foreign judgments. Meanwhile, the New York Convention generallyregulates the recognition and enforcement of foreign arbitral awards. Morespecifically, the New Yok Convention Article 5 provides individual requirementsfor the recognition and enforcement of foreign arbitral awards in the countrywhere recognition and enforcement is sought. On the other hand, for foreignarbitral awards that the New York Convention does not cover, the KoreanArbitration Act Article 39, Clause 2 regulates the recognition and enforcement ofthem. And it provides that the Korean Civil Procedure Act Article 217 and theKorean Civil Execution Act Article 26, Clause 1, and Article 27 apply to them. The recognition and enforcement of foreign judgments and arbitral awards isthe field where the conflicts of judicial jurisdictions of different countries mayoccur. Then it is necessary to solve various judicial conflicts in the way thatdoes not violate other country's inherent sovereignty. In this regard, foreignjudgments and arbitral awards should be recognized and enforced in fullcompliance with evident and strict requirements. The Korean laws mentioned above are very suitable for this matter. Most of all, as the decisions of theKorean Supreme Court and lower courts have accumulated, the interpretation andapplication of related rules becomes more clear and concrete. As a result, thechances of the enforcement and recognition of foreign judgments and arbitralawards have increased. Ultimately, decisions of those courts enhance theforeseeability of the enforcement and recognition of foreign judgments andarbitral awards. Today's international trade and world markets need the maximum possibilitiesof the recognition and enforcement of foreign judgments and arbitral awards. It isobvious, considering the recognition and enforcement of Korean judgments andarbitral awards in the foreign country where the recognition and enforcement issought. Nevertheless, the recognition and enforcement of foreign judgments andarbitral awards still should be granted by strict and apparent rules on it. Furthermore, theoretical and practical studies should be continued so as to makeboth international litigation and arbitration as optimum effective disputeresolutions for international commercial disputes.