Busan Chamber of Commerce and Industry and Korean Commercial Arbitration Board Sign Agreement to Support Regional Companies on Site in Disputes
The Busan Chamber of Commerce and Industry and the Korean Commercial Arbitration Board 2026year 7month 8day signed a memorandum of understanding. The arbitration board’s Busan branch will move to the Busan Chamber of Commerce and Industry’s 4floor to jointly provide on-site support for arbitration and mediation applications and dispute-prevention training.
The Busan Chamber of Commerce and Industry and the Korean Commercial Arbitration Board 2026year 7month 8day signed a memorandum of understanding to jointly support dispute resolution for regional companies. The agreement aims to improve regional companies’ access to the handling of legal disputes.
The signing ceremony was held at the Busan Chamber of Commerce and Industry on the afternoon of 8day. Officials from both institutions attended the ceremony.
The Busan branch of the Korean Commercial Arbitration Board will move to the Busan Chamber of Commerce and Industry’s 4floor, establishing an on-site presence. Both sides said the move will create an environment where on-site applications and preliminary consultations are available.
The cooperation will include expedited handling of mediation and conciliation procedures, dispute prevention training, and tailored cooperation projects for local businesses. It specifies that the tailored projects will include dispatching mediators, practical training, and mock mediation.
The Korean Commercial Arbitration Board supports applicants from the on-site filing stage through procedural guidance and mediator assignment. The Busan Chamber of Commerce and Industry said it will provide office space and a local network.
The two organizations plan to proceed by incorporating the schedule for joint projects and specific operational plans into the agreement. The support will be tailored primarily for businesses based in the region.