The evolution of Korea’s modern investment treaties and investor- state dispute settlement provisions
Over the past two decades, Korea has aggressively concluded a vast range of inter na tional investment agreements (IIAs) in the form of free trade agree ments (FTAs) or bi lat eral investment treat ies (BITs). Tracing how Korea’s investment treat ies have evolved over the years is signi fic ant also for other emerging coun tries, par ticu larly given Korea’s rapid eco nomic de velopment and trans ition from prim arily a net capital importer to a capital exporter. An ana lysis of the major trans forma tions in Korea’s investment treat ies, espe cially in light of its recently signed FTAs with the US and the EU should help other coun tries that hope to gain insight from Korea’s de velopment ex peri ences. This chapter therefore crit ically assesses Korea’s investment treat ies and suggests how the present legal regime, espe cially the dispute res olu tion pro vi sions, should be further enhanced to provide more effect ive protection and secur ity for investors.