Is it necessary to hire a lawyer for the arbitration process?
In principle, arbitration proceedings can be conducted directly without a litigation representative.
However, because arbitration rulings are very important, it will naturally be helpful to hire a lawyer familiar with Korean law.
Arbitration procedures are fast and complex to resolve disputes quickly.
Additionally, because an arbitration award has the same effect as a “final” court decision, there is no appeal process like in a trial, even if there is an objection. That is, it is final and binding.
(However, if there is an objection to the arbitration award, the objection may be raised through a separate lawsuit.)
Therefore, in order to achieve the purpose of speedy resolution of disputes using arbitration procedures and obtain the desired results of the arbitration award, assistance from a lawyer who is a legal expert is essential from the arbitration stage.
Are there any legal issues involved?
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