Notice of Arbitration Under the Arbitration Rules of the United Nations Commission on International Trade Law and Chapter 11 of the Free Trade Agreement Between the United States and the Republic of Korea
1. This Notice of Arbitration, together with its Exhibits numbered from "A" to "J"
and the Declaration of Hun Won, is submitted on behalf of Mr. Hun Won (a/k/a Jason H. Won) (hereinafter, the "Claimant" or "Mr. Won") pursuant to Article 3 of the Arbitration Rules of the United Nations Commission on International Trade Law in force as from 15 August 2010 (the "UNCITRAL Arbitration Rules"), administered by the International Centre for Settlement of Investment Disputes (the "ICSID"), against the Republic of Korea (hereinafter, the "Respondent," "Republic of Korea," or "South Korea"), (hereinafter, collectively referred to as the "Parties").
2. Claimant contends that the instant Notice of Arbitration is timely and appropriate pursuant to Article 11.16(2) of the Free Trade Agreement between the United States and the Republic of Korea (the "KORUS FTA") on the grounds that the ninety (90) days period has elapsed since the service of a written notice of intent to submit dispute to arbitration. KORUS FTA Sec. B, Art. 11.16(2).
3. This Notice of Arbitration contains information concerning the following:
i. The name, description, and address of each of the Parties (II);
ii. The Parties' contractual relationship and the nature and circumstances of the Parties' dispute giving rise to the Claimant's claims (III);
iii. The dispute resolution clause, the proposed governing law, and the seat and language of the arbitration (IV);
iv. Claimant's position as regards the composition of the arbitral tribunal (V);
v. Claimant's damages (VI); and
vi. A statement of the relief sought (VII).
4. Heralded as one of "the world's largest free-trade agreement,"1 the Free Trade Agreement between the United States and the Republic or Korea united the world's largest and fifteenth largest economies, respectively.2
Footnotes omitted from this introduction, OCR errors may be present.