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 international investment agreements (IIAs) in the form of free trade agreements (FTAs) or bilateral investment treaties (BITs). Tracing how Korea's investment treaties have evolved over the years is significant also for other emerging countries, particularly given Korea's rapid economic development and transition from primarily a net capital importer to a capital exporter. An analysis of the major transformations in Korea's investment treaties, especially in light of its recently signed FTAs with the US and the EU should help other countries that hope to gain insight from Korea's development experiences. This chapter therefore critically assesses Korea's investment treaties and suggests how the present legal regime, especially the dispute resolution provisions, should be further enhanced to provide more effective protection and security for investors