Handling cross-border litigation and arbitration is one of our specialties.
We have handled many international litigation and arbitration
by providing exceptional service to our domestic/foreign clients.
A comprehensive understanding of the terms and conditions of international transaction agreements as well as that of the entire process of the international trade, such as transportation and finance, is essential for the successful solution of disputes arising from an international transaction.
A Swedish company which conducted its business by purchasing raw materials from a Russian manufacturer and supplying them to Korean steel companies lost its exclusive sales license and was deprived of goods which have already been purchased through forged railway bills, during the transition period of the management of the Russian manufacturing company. In this case, the Swedish company was able to protect the rights in the Korean court through the following process; after going through various measures taken through the Korean court such as the evidence preservation procedure and an injunction preventing the disposal of the imported goods, the Swedish company successfully proved that the railway bills had been forged and that the acquisition of goods by a third party by abusing a corporate entity was invalid, etc. CHOI & KIM successfully assisted the Swedish company throughout the entire proceedings such as in the Russian public prosecutor's investigations and Swedish arbitration proceedings in addition to the Korean court proceedings.
The L/C has become a well-established method of payment in the international trade field, and the scale of L/C disputes has become larger along with the trend of globalization in the market. CHOI & KIM's expertise also reaches this field based on its accumulated experience in litigation and consultation.
Disputes often arise between an issuing bank and a negotiating bank when the issuing bank realizes that it is hardly likely to be reimbursed for the L/C payment from an applicant who defaulted on the payment. A cargo misdelivery case is usually concerned with a L/C dispute between banks. The major issues in L/C disputes include the strict compliance doctrine under the UCP 500, liability of the issuing bank in a case of forgery or alteration of the shipping documents, the application of good faith principle as an exception of the strict compliance doctrine and delay of notice, etc. The jurisdiction issue is often disputed in relation to a lawsuit brought in the Korean court for the sole reason that the negotiating bank has its branch office in Korea, although the L/C in the dispute is not related to the Korean branch at all.
Korea is as the largest supplier in the world shipbuilding market. Disputes arising out of this field, for example, on liability for defects of a new building, require lawyers who have comprehensive understanding of the manufacturing process and the shipbuilding contract. CHOI & KIM has abundant experience concerning various kinds of litigation and arbitration cases, mainly with regard to breach of a shipbuilding contract.
CHOI & KIM has abundant experience in respect of the enforcement of foreign court judgments and arbitration awards.