투자자-국가간 분쟁해결제도를 활용한FTA 접근전략

Investor-State Dispute Settlement System and Approach Strategy of Free Trade Agreements

The Investor-State Dispute Settlement(ISDS) is a system in which it is possible to requestinternational arbitration or to bring a lawsuit to domestic court against the government ofa host state in order to preserve investors' damage, This may be applicable, in case aninvestor has losses due to the violation of duties and investment contract in the investmentagreement by the government hosting the investment. The invest-relevant norms included in Free Trade Agreement(FTA) are a little differentdepending on each country. In our position with inferior foreign negotiating power, it wouldbe needed to have consistent FTA policies by setting up the standard dispute settlementmodels in accordance with investment agreements. In order to survive major economicpowers and also to minimize the political influences, it would be important to set up aconsistent and efficient dispute settlement mechanism including using ICSID arbitration forfuture agreements such as the Korea-China FTA. Since one side of the international investment dispute is a state, it is different from theinternational commercial arbitration which is a dispute settlement system between companies. As most of them are settled by the international arbitration of ICSID, we should study theinternational arbitration mechanism of ICSID and then apply it to the conclusions of FTAand Bilateral Investment Treaty(BIT) for much quicker and fairer investment disputesettlement.