| 中华人民共和国政府和大韩民国政府关于促进和保护投资的协定 |
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| 2007-12-20 15:35 文章来源：商务部条法司 | | 文章类型：原创 内容分类：政策 |
中华人民共和国政府和大韩民国政府（以下称“缔约双方”）
为了加强两国间经济和贸易合作，愿进一步促进投资；
愿为缔约一方的投资者在缔约另一方领土内的投资创造有利条件，给予上述投资和相关的经营活动优惠的待遇和保护；
认识到鼓励和相互保护此类投资将有助于促进两国间经济往来、贸易和技术领域的交流；并且按照2003年7月8日《中韩联合声明》的精神，双方承诺提高中韩全面合作伙伴关系；
达成协议如下：
第 一 条
定义
本协定内：
一、“投资”一词系指缔约一方投资者依照缔约另一方在投资时的法律和法规在缔约另一方领土内所投入的各种财产，特别是，包括但不限于：
(一) 动产、不动产和其他财产权利，如抵押、留置、质押、用益物权和类似权利；
(二) 公司、企业和中外合营企业的股份、股票、债券、公司债和其他形式的参股；
(三) 金钱请求权或其他与投资有关的具有经济价值的行为请求权；
(四) 知识产权，包括著作权、商标、专利、工业设计、工艺流程、专有技术、商业秘密、商名和商誉；
(五) 法律授予的或依照法律通过合同、授权、许可而获得的权利，包括勘探、提炼、耕作或开发自然资源的权利。
作为投资的财产发生任何形式上的变化，不影响其作为投资的性质。
二、“投资者”一词系指在缔约另一方的领土内进行投资的缔约一方的自然人或者法人：
(一) “自然人”一词系指根据缔约一方的法律拥有其国籍的自然人；
(二) “法人”一词系指任何依据缔约一方的法律法规成立的实体，包括公司、公共机构、基金会、合伙、商号、组织、社团或者协会。
三、“收益”一词系指由投资所产生的款项，特别是，包括但不限于：利润、利息、资本利得、股息、版税、酬金。投资收益和若存在再投资时那些再投资收益享有与投资同样的保护。
四、“联合国国际贸易法委员会仲裁规则”一词系指联合国国际贸易法委员会于1976年4月28日通过的《联合国国际贸易法委员会仲裁规则》。
五、“解决投资争端国际中心条约”一词系指1965年3月18日在华盛顿开放签署的《解决一国和他国投资者投资争端条约》。
六、“中心”一词系指《关于建立解决投资争端国际中心条约》建立的解决投资争端国际中心。
第 二 条
促进和保护投资
一、缔约一方应鼓励缔约另一方的投资者在其领土内投资，并依照其法律和法规接受这种投资。
二、缔约一方投资者的投资应在缔约另一方境内受到公平和公正对待，享受充分与及时的保护和保障。
三、缔约一方不得对缔约另一方投资者作出的投资的管理、维持、使用、享有和处分采取任何不合理的或歧视性的措施，缔约一方也不得在地方含量、技术转移或出口业绩要求方面对缔约另一方投资者作出的投资采取任何不合理的或歧视性的措施。
四、本着投资或进行投资相关经营的目的，欲进入缔约另一方领土并停留的缔约一方的国民，其入境、逗留、定居的申请应给予善意考虑；同样的善意考虑也应当给予根据其国内法在缔约另一方领土内开展经营活动的授权和许可的申请。
第 三 条
投资待遇
一、在扩张、运营、管理、维持、使用、享有、销售和其他对于投资的处理（以下称“投资和商业行为”）方面，每一个缔约方应在其领土内提供给缔约另一方的投资者和他们的投资不低于在相似条件下其提供给其本国投资者和他们的投资的待遇（简称“国民待遇”），投资者在缔约另一方的领土内的投资应始终享受公正与公平的待遇。
二、第二条第三款和第三条第一款并不适用于在中华人民共和国领土内任何已存在的不符合措施和将来对于该措施的修改，但是修改相对于修改之前不能加重其不符合效果。
赋予投资的待遇一旦被接受，其后的修改不应该比最初投资作出的时候更具限制性。
中华人民共和国将采取所有可能的措施进一步消除不符合措施。
三、在投资和商业行为方面，包括投资准入上，每个缔约方将在其领土上给予缔约另一方投资者、他们的投资及由缔约另一方投资者作出的投资相关的活动不低于类似条件下其给予任何第三国投资者、他们的投资及与投资相关活动的待遇（简称“最惠国待遇”）
四、本条第三款的规定不应解释为缔约一方有义务将由下列原因产生的待遇、优惠或特权给予缔约另一方投资者：
(一) 任何现存或将来的关税同盟、自由贸易区、经济联盟和任何由上述同盟或类似机构制定的国际协议；
(二) 任何全部或主要与税收有关的国际协议或安排；
(三) 任何便利边境地区小规模投资的安排。
五、缔约一方的投资者可就在缔约另一方领土内受到的待遇寻求司法机关或者行政机构、主管机关的救济，包括诉求与申辩的权利，而且上述待遇不低于缔约另一方给与其本国投资者或者任何第三国投资者的待遇。
第 四 条
征收
一、缔约一方对缔约另一方的投资者在其领土内的投资除非符合下列条件，不得采取征收、国有化或其他类似措施（以下称“征收”）：
(一) 为了公共利益；
(二) 依照国内法律和法律正当程序的国际标准；
(三) 非歧视性的；
(四) 符合第二款，给予补偿。
二、补偿应等于被征收投资在征收前一刻的公平市场价值。公平市场价值不反映因征收被公众过早知道而导致的任何价值的变化。补偿应无迟延支付并应包含征收作出之日到补偿支付日的适当的利息。补偿应为可有效实现的、可自由转移的，并且可以按照征收日的主要汇率自由兑换为所涉投资者所属缔约国的货币和国际货币基金条约的条款所定义的自由使用的货币。
三、在不损害本协定第九条规定的前提下，受影响的投资者应有权要求该缔约一方的司法机构或行政机构根据作出征收的缔约方的合法程序就投资者案件和根据本条原则确定的补偿金额作出迅速审查。
第五条
损害和损失的补偿
一、缔约一方的投资者在缔约另一方领土内的投资，由于缔约后者一方领土内发生任何形式的武装冲突、国内紧急状态、内乱而遭受损失，缔约后者一方给予其恢复原状、赔偿、补偿或采取其他解决措施的待遇，不应低于它给予本国或任何第三国投资者投资的待遇。
二、在不损害本条第一款的规定前提下，缔约一方的投资者在本条第一款所述的任何情况下在另一缔约方领土上遭受如下损失：
(一) 被该缔约另一方的军队和当局征用了财产，或者
(二) 被该缔约另一方的军队或当局非因战斗行动或情势必需而破坏了他们的财产，
则对于征收期间造成的损失和损害，或者财产破坏造成的结果，将给与公正和合理的补偿。
三、本条第一款和第二款所列示的补偿的最后支付将被无迟延地履行，并可以补偿金额作出之日的主要市场汇率自由转移。
第六条
转 移
一、缔约一方应确保缔约另一方投资者在其境内投资有关的款项毫无迟延转移进出其领土，这些转移特别包括，但不限于：
(一) 建立、维持和扩大投资所必需的款项；
(二) 利润、利息、股息、资本利得、版税及其他费用；
(三) 基于合同所得的偿付，包括那些根据贷款协议的偿付；
(四) 全部或部分出售或清算资产获得的款项；
(五) 根据第四条和第五条所得的偿付；
(六) 根据第九条由于争端解决所得的偿付；
(七) 在缔约一方的领土内从事与投资有关活动的缔约另一方的国民的收入和其他报酬；
二、除非本协定有相反规定，缔约任何一方都不应阻碍转移以可自由兑换的货币按照转移日该货币通行的市场汇率得以无迟延地履行。
三、尽管存在以上第一与第二款的规定，缔约一方可以通过公平、非歧视、善意地适用其以下相关的法律迟延或者阻止转移：
(一) 破产、倒闭或者债权人权利保护；
(二) 证券的发行、买卖或者交易；
(三) 犯罪或者触犯刑法；或者保证遵照司法程序中的判决或命令；
(四) 货币转移或者其他金融工具的报告。
四、尽管存在本协定其它条款，每个缔约方在以下情况下可以根据其法律法规，采取或维持与本条的义务不一致的措施：
(一) 存在收支平衡和外部财政方面严重的困难或者有上述困难之虞；或者
(二) 例外情况下，资本转移引起特别是金融和汇率政策方面的宏观经济管理的严重困难或者有上述困难之虞。
五、上述第四款提到的措施须：
(一) 符合国际货币基金协定的条款，缔约方作出的保留除外；
(二) 不超越处理上述第四款描述的情形所必要的措施；
(三) 是临时的并在条件许可时被取消；
(四) 即刻通知缔约另一方。
六、本条各款所提及的转移应该符合现行关于汇率管理的法律法规规定的相关的形式要件。这些涉及的形式要件包括但不限于：
(一) 海外投资；
(二) 清算、所有权的转移和外商投资企业的注册资本的减少（包括要求收回投资）；
(三) 本金和已登记的外债（包括借自外国投资者的款项）的利息的归还；或者
(四) 国内担保人提供的外部担保。
完成转移程序要求的期间应开始于附有必要的证明文件的书面申请被提交到外汇部门之日。必要的许可授权应该在一个月之内发出，最多不超过两个月。
七、本条所涉的形式要件不应被用以规避本协议下缔约方的承诺和义务。与投资相关的转移的形式要件不应比最初作出投资时更有限制。
第七条
代 位
一、如果缔约一方或其指定的机构对其投资者在缔约另一方领土内的某项投资所遭受的非商业险根据担保或保险合同作了支付，缔约后一方应承认：
(一) 这种转移，即任何投资者的权利和请求权都转移给了缔约前一方或者给了其指定的机构，不论基于法律或者根据缔约前一方国内的法定交易，
(二) 缔约前一方或其指定机构根据代位权行使与该投资者同样程度的权利和法律请求，并履行与投资者同样的投资相关的义务。
二、基于这种权利和请求的转移以及偿付权的转移，如果偿付应付给缔约的前一方或者其指定的机构，第四条和第六条的规定应该比照适用。
第八条
缔约双方间争议解决
一、任一缔约方要求解决协定相关的任何争议，或者要求讨论协定的解释或适用、协定目标的实现等相关事项时，缔约双方应立刻通过外交途径进行协商。
二、如果争议在6个月内未被解决，根据缔约一方的要求，应将争议提交专设仲裁庭解决。
三、仲裁庭由3名仲裁员组成。自收到要求仲裁的书面通知之日起两个月内，各缔约方应任命一名仲裁员。该两名仲裁员应在其后两个月内，共同选定一位与缔约双方均有外交关系的第三国国民担任首席仲裁员。
四、如果仲裁庭未能在收到要求仲裁的书面通知起四个月内组成，缔约双方间又无其他协定，缔约任何一方可以提请国际法院院长作出必要的任命。如果国际法院院长是缔约任何一方的国民，或由于其他原因不能履行此项任命，应请国际法院中非缔约任何一方的国民也无其他不胜任原因的最资深法官履行此必要的任命。
五、仲裁庭应该决定其自身的程序。仲裁庭将根据本协定和缔约双方共同认可的国际法原则作出裁决。
六、仲裁庭应以多数票作出裁决。裁决在仲裁庭组成之日起10个月内作出。该裁决是终局的，对缔约双方均有拘束力。应任何缔约一方的请求，仲裁庭应解释其所作裁决的理由。
七、缔约方应各自承担其任命的仲裁员及出席仲裁程序的费用。首席仲裁员和仲裁庭的相关费用应由争议双方平均承担。
第九条
投资者与缔约一方争议解决
一、基于本条目的，一项投资争议指缔约一方与缔约另一方的投资者之间的投资争议，缔约一方被指控由于对本协定的违反而对缔约另一方的投资者的投资造成或导致了损害和损失。
二、若发生投资争议，该争议应尽可能通过协商或谈判解决。若没有如此解决，投资者可提交该投资争议到如下两个解决途径之一：
(一) 投资所在地有管辖权的法院；
(二) 争议被任何一方提请协商之日起4个月后，进行国际仲裁。
三、在国际仲裁的情况下，根据投资者的选择，争议将被提交到：
(一) 依据1965年3月18日在华盛顿签署的《解决国家和他国国民之间投资争端公约》设立的“解决投资争端国际中心”；或者
(二) 根据联合国国际贸易法委员会仲裁规则或者经双方同意的任何别的仲裁规则设立的专设仲裁庭；
争议中的缔约方可以要求相关的投资者在提交到国际仲裁之前用尽该缔约方的法律和法规规定的国内行政复议程序。
包括要求提交文件的时间,国内的行政复议程序从复议申请被提交之日起算不超过4个月。如果程序在4个月内没有完成，它将被视为已经完成，投资者可以提起国际仲裁。投资者可以在本条第二款中规定的4个月的谈判或协商期间提起行政复议程序。
每个缔约方同意投资争端中的投资者将争端提交到有拘束力的国际仲裁解决。
四、一旦投资者将争议提交给有管辖权的投资所在地法院、“解决投资争端国际中心”或者依照本条第三款所组成的独立仲裁庭，三种程序选择任何一个都是终局的。
五、根据本条第三款提起投资争议的投资者应至少在诉求提起前90日给争议中的缔约方一份书面通知，说明其提起争端解决的意向。通知列明：
(一) 涉争议投资者的名称和地址；
(二) 涉案的缔约方的具体争议措施、能够充分清楚说明问题的关于投资争端的事实和法律根据的摘要，包括指控涉案缔约方所违反的协定的条款。
(三) 寻求的救济，包括必要的请求赔偿的大略数额；和
(四) 涉争端的投资者寻求的本条第三款（一）到（二）项中列示的争端解决程序。
六、仲裁裁决应该基于包括其冲突法规则在内的涉案缔约一方的法律、本协定的规定，以及缔约双方都接受的国际法原则。
七、尽管存在本条第三款的规定，如果从投资者首次知道或者应该知道其受到损失或损害之日起已经超过三年，则投资者不能根据本条第三款提起请求。
八、仲裁裁决是终局的，对争议双方具有拘束力。各缔约方有义务根据其相关法律法规执行裁决。
第十条
其他义务
一、如果缔约一方的立法或缔约双方之间现存或此后设立的国际义务导致给予缔约另一方投资者的投资比本协定更优惠待遇的地位，该地位不受本协定影响。
二、缔约任何一方应恪守其与缔约另一方投资者就投资所作出的任何承诺。
三、本协议的任何规定不应被解释为消减双方加入的关于保护知识产权的国际协定项下的权利和义务，上述国际协定包括世贸组织马拉喀什协定附件1C确立的与贸易相关的知识产权协议、世界知识产权组织制定的其他国际条约。
四、为履行本协定的义务，每个缔约方应采取合理可行的措施确保其领土内的省级政府恪守本协定。
第十一条
透明度
一、缔约方应及时出版或通过其他方式使公众获得对缔约另一方投资者在其境内投资可能产生影响的法律、法规、程序、行政规章和普遍适用的司法裁决以及国际协定。
二、本协定不要求缔约一方提供或允许获得任何机密或私人信息，包括与特定的投资者或投资有关的信息，披露后会妨碍法律的执行、违背保护机密的法律或损害特定投资者的合法商业利益的信息。
第十二条
协定的适用
本协定应适用在其生效之前或之后缔约任何一方投资者在缔约另一方领土内按照其相关法律法规进行的投资，但是，不适用任何在本协定生效之前已发生的争议。
第十三条
磋商
一、缔约方的代表为下列目的将举行不定期会议：
(一) 审查本协定的执行情况；
(二) 交换法律信息和投资机会；
(三) 提出促进投资的建议；
(四) 研究投资相关的其他问题。
二、任一缔约方提议就本条第一款事项进行磋商，缔约另一方将即刻给予回应，该磋商将轮流在北京和首尔举行。
第十四条
生效、期限和终止
一、本协定自缔约双方相互书面通知对方已完成协定生效所必需的国内法律程序之日后次月的首日生效。协定有效期10年。如缔约一方在协定期满前一年未书面通知另一方终止本协定，本协定将自动顺延10年，并依此法顺延。
二、对本协定终止之日前所作出的投资，本协定的规定应自终止之日起继续有效10年。
三、本协定可按照缔约双方的书面协议加以修改。任何修改的生效程序与本协定的生效程序相同。
四、1992年9月30日签订的《中华人民共和国政府和大韩民国政府鼓励和相互保护投资的协定》将于本协定生效之日终止并被本协定取代。
由双方政府正式授权其各自代表签署本协定，以昭信守。
本协定于2007年9月7日在悉尼签订，一式两份，每份都用中文、韩文和英文写成，三种文本同等作准。如对文本的解释发生分歧，以英文本为准。
中华人民共和国政府 大韩民国政府
代 表 代 表
商务部部长 外交通商部长官
薄熙来 宋旻淳
英文本
English Version
AGREEMENT BETWEEN THE GOVERNMENT OF THE PEOPLE’S REUBLIC OF CHINA
AND THE GOVERNMENT OF THE REPUBLIC OF KOREA
ON THE PROMOTION AND PROTECTION OF INVESTMENTS
The Government of the People’s Republic of China and the Government of the Republic of Korea (hereinafter referred to as the Contracting Parties),
Desiring to further promote investment in order to strengthen economic and trade cooperation between the two States;
Intending to create favourable conditions for investments by investors of one Contracting Party in the territory of the other Contracting Party by according favourable treatment and protection to such investments and business activities in connection therewith;
Recognizing that the encouragement and reciprocal protection of investment will stimulate exchanges in economic, trade, and technological fields between the two States; and
In accordance with the spirit of the Korea-China Joint Statement of July 8th , 2003, in which both States committed to enhancing the Korea-China Comprehensive Cooperative Partnership;
Have agreed as follows:
ARTICLE 1
DEFINITIONS
For the purpose of this Agreement,
1. The term "investments" means every kind of asset, used as investment by investors of one Contracting Party within the territory of the other Contracting Party, in accordance with the applicable laws and regulations of that other Contracting Party at the time of investment and shall include, in particular, though not exclusively:
(a) movable and immovable property as well as any other property rights in rem such as mortgages, liens, pledges, usufruct and similar rights;
(b) shares, stocks, bonds and debentures or any other forms of participation in a company, business enterprise or joint venture;
(c) claims to money or to any performance having an economic value associated with an investment;
(d) intellectual property rights, including copyrights, trade marks, patents, industrial designs, technical processes, know-how, trade secrets and trade names, and goodwill;
(e) any right conferred by law or under contract and any licences and permits pursuant to law, including the right to search for, extract, cultivate or exploit natural resources.
Any alteration of the form in which assets are invested shall not affect their classification as investment.
2. The term "investor" means any natural person or legal entity of one Contracting Party who invests in the territory of the other Contracting Party:
(a) the term "natural person" means a natural person having the nationality of one Contracting Party in accordance with its laws; and
(b) the term "legal entity" means any entity incorporated or constituted in accordance with the laws and regulations of one Contracting Party, including a company, public institution, foundation, partnership, firm, organisation, corporation or association.
3. The term "returns" means the amounts yielded by an investment, and, in particular, though not exclusively, includes profits, interest, capital gains, dividends, royalties and fees. Returns from investments and, in the case of their reinvestment, returns from those reinvestments shall enjoy the same protection as investments.
4. The term "UNCITRAL Arbitration Rules" means the arbitration rules of the United Nations Commission on International Trade Law, adopted by the United Nations Commission on International Trade Law on April 28, 1976.
5. The term "ICSID Convention" means the Convention on the Settlement of Investment Disputes between States and Nationals of Other States opened for signature in Washington, on March 18, 1965.
6. The term "the Centre" means the International Centre for Settlement of Investment Disputes established by the ICSID Convention.
ARTICLE 2
PROMOTION AND PROTECTION OF INVESTMENT
1. Each Contracting Party shall encourage investors of the other Contracting Party to make investments in its territory and admit such investments in accordance with its laws and regulations.
2. Each Contracting Party shall accord to investments in its territory of investors of the other Contracting Party fair and equitable treatment and full and constant protection and security.
3. Neither Contracting Party shall take any unreasonable or discriminatory measures against the management, maintenance, use, enjoyment and disposal of the investments by the investors of the other Contracting Party, nor impose unreasonable or discriminatory measures on investments by investors of the other Contracting Party concerning local content, technology transfer or export performance requirements.
4. Nationals of one Contracting Party who wish to enter the territory of the other Contracting Party and to remain therein for the purpose of making investments and carrying on business activities in connection therewith, shall be given sympathetic consideration to their applications for entry, sojourn and residence, as well as applications for licenses and permits to conduct business activities, in the territory of that other Contracting Party in accordance to its national legislation.
ARTICLE 3
TREATMENT OF INVESTMENT
1. Each Contracting Party shall in its territory accord to investors of the other Contracting Party and to their investments treatment no less favourable than the treatment it accords in like circumstances to its own investors and their investments (hereinafter referred to as "national treatment") with respect to the expansion, operation, management, maintenance, use, enjoyment, and sale or other disposal of investments (hereinafter referred to as "investment and business activities").
2. The paragraph 3 of Article 2 and the paragraph 1 of the Article 3 do not apply to any existing non-conforming measure maintained within its territory of the People’s Republic of China or any future amendment thereto provided that the amendment does not increase the non-conforming effect of such a measure from what it was immediately before the amendment took effect.
Treatment granted to investments once admitted shall in no case be made restrictive than the treatment granted at the time when the original investment was made.
The People’s Republic of China will take all appropriate measures to progressively remove all non-conforming measures.
3.Each Contracting Party shall in its territory accord to investors of the other Contracting Party and to their investments and activities associated with such investments by the investors of the other Contracting Party treatment no less favourable than that accorded in like circumstances to the investors and investments and associated activities by the investors of any third State(hereinafter referred to as "most-favoured-nation treatment") with respect to investments and business activities, including the admission of investment.
4. The provisions of Paragraph 3 of this Article shall not be construed so as to oblige one Contracting Party to extend to the investors of the other Contracting Party the benefit of any treatment, preference or privilege by virtue of:
(a) any customs union, free trade zone, economic union and any international agreement resulting in such unions, or similar institutions;
(b) any international agreement or arrangement relating wholly or mainly to taxation;
(c) any arrangements for facilitating small scale frontier trade in border areas.
5. Treatment accorded to investors of one Contracting Party within the territory of the other Contracting Party with respect to access to the courts of justice and administrative tribunals and authorities both in pursuit and in defence of their rights shall not be less favourable than that accorded to investors of the latter Contracting Party or to investors of any third State.
ARTICLE 4
EXPROPRIATION
1. Neither Contracting Party shall expropriate, nationalize or take other similar measures, directly or indirectly, (hereinafter referred to as “expropriation”) against the investments of the investors of the other Contracting Party in its territory, unless the following conditions are met:
(a) for the public interests;
(b) in accordance with domestic law and international standard of due process of law;
(c) without discrimination;
(d) against compensation in accordance with paragraph 2.
2. Compensation shall be equivalent to the fair market value of the expropriated investment immediately before the expropriation occurred. The fair market value shall not reflect any change in value occurring because the expropriation had become publicly known earlier. The compensation shall be paid without delay and shall carry appropriate interest from the date of expropriation until the date of payment. It shall be effectively realisable, freely transferable and freely convertible into the currency of the Contracting Party of the investors concerned and into freely usable currencies as defined in the Articles of the Agreement of the International Monetary Fund, at the market exchange rate prevailing on the date of expropriation.
3. Without prejudice to the provisions of Article 9, the investors affected shall have a right of access to the courts of justice or administrative tribunals according to its legal procedure of the Contracting Party making the expropriation for a prompt review of the investors' case and the amount of compensation in accordance with the principles set out in this Article.
ARTICLE 5
COMPENSATION FOR DAMAGES AND LOSSES
1. Investors of one Contracting Party whose investments in the territory of the other Contracting Party suffer losses owing to any kind of armed conflict, a state of national emergency or civil disturbances in the territory of the latter Contracting Party shall be accorded by the latter Contracting Party treatment, as regards restitution, indemnification, compensation or other settlement, no less favourable than that which the latter Contracting Party accords to its own investors or investors of any third State.
2. Without prejudice to paragraph 1 of this Article, investors of one Contracting Party, who in any of the events referred to in that paragraph suffer damage or loss in the territory of the other Contracting Party resulting from:
(a) requisition of their property by forces or authorities of that other Contracting Party; or
(b) destruction of their property by its forces or authorities which was not caused in combat action or was not required by the necessity of the situation
shall be accorded fair and reasonable compensation for the damage or loss sustained during the period of the requisition or as a result of the destruction of the property.
3. The resulting payments of compensation set out in paragraphs 1 and 2 of this Article shall be made without delay and shall be freely transferable at the market exchange rate prevailing on the date of determining the amount of compensation.
ARTICLE 6
TRANSFERS
1. Each Contracting Party shall ensure that all payments relating to an investment in its territory of an investor of the other Contracting Party may be freely transferred into and out of its territory without delay. Such transfers shall include, in particular, though not exclusively:
(a) amounts necessary for establishing, maintaining or expanding the investment;
(b) profits, interest, dividends, capital gains, royalties or other fees;
(c) payments made under a contract including those pursuant to a loan agreement;
(d) proceeds from the total or partial sale or liquidation of investments;
(e) payments made in accordance with Articles 4 and 5;
(f) payments arising out of the settlement of a dispute under Article 9; and
(g) earnings and remuneration of nationals of the other Contracting Party employed in connection with an investment.
2. Neither Contracting Party shall prevent transfers from being made without delay in freely convertible currencies at the market exchange rate prevailing on the date of the transfer, unless otherwise provided in this Agreement.
3. Notwithstanding paragraphs 1 and 2 above, one Contracting Party may delay or prevent a transfer through the equitable, non-discriminatory and good faith application of its laws relating to:
(a) bankruptcy, insolvency or the protection of the rights of creditors;
(b) issuing, trading or dealing in securities;
(c) criminal or penal offences; or ensuring compliance with orders or judgements in adjudicatory proceedings;
(d) reports of transfers of currency or other monetary instruments.
4. Notwithstanding other provisions of this Agreement, each Contracting Party may, in accordance with its laws and regulations, adopt or maintain measures inconsistent with its obligations under this Article: (a) in the event of serious balance-of-payments and external financial difficulties or threat thereof; or (b) where, in exceptional circumstances, movements of capital cause, or threaten to cause, serious difficulties for macroeconomic managements, in particular monetary and exchange rate policies.
5. Measures referred to in paragraph 4 above: (a) shall be consistent with the Articles of the Agreement of the International Monetary Fund other than those the Contracting Parties made reservations; (b) shall not exceed those necessary to deal with the circumstances described in paragraph 4 above; (c) shall be temporary and shall be eliminated as soon as conditions permit; (d) shall be promptly notified to the other Contracting Party.
6. The transfers referred to in paragraphs of this Article shall comply with relevant formalities stipulated by the current laws and regulations relating to exchange administration. These formalities refer to, including but not limited to:
a) overseas investment;
b) liquidation, transfer of ownership and registered capital reduction (including reclaiming investment) of foreign direct investment enterprise;
c) the repayment of principal and interest of registered external debts (including loans from foreign investors); or
d) external guarantee provided by domestic guarantors.
The period required for the completion of transfer formalities shall commence on the day on which a written request with necessary supportive documentation is submitted to the foreign exchange authorities. The necessary authorizations should be granted in a period of one month but shall in no case exceed two months.
7. The formalities referred to this Article shall not be used as a means of avoiding the contracting party’s commitments and obligations under this Agreement. Transfer formalities relating to an investment shall in no case be made more restrictive than formalities required at the time when the original investment was made.
ARTICLE 7
SUBROGATION
1. If one Contracting Party or its designated agency makes a payment to its investors under a guarantee or a contract of insurance against non-commercial risks it has accorded in respect of an investment made in the territory of the other Contracting Party, the latter Contracting Party shall recognize:
(a) the assignment, whether under the law or pursuant to a legal transaction in the former Contracting Party, of any rights or claims by the investors to the former Contracting Party or to its designated agency, as well as,
(b) that the former Contracting Party or to its designated agency is entitled by virtue of subrogation to exercise the rights and enforce the claims of that investor and assume the obligations related to the investment to the same extent as the investor.
2. As regards payment to be made to that former Contracting Party or its designated agency by virtue of such assignment of right or claim and the assignment of such payment, the provision of Article 4 and Article 6 shall apply mutatis mutandis.
ARTICLE 8
SETTLEMENT OF DISPUTES BETWEEN CONTRACTING PARTIES
1. The Contracting Parties shall consult promptly through diplomatic channel, upon request by either Contracting Party, to resolve any dispute in connection with this Agreement, or to discuss any matter relating to the interpretation or application of this Agreement or to the realisation of the objectives of this Agreement.
2. If a dispute cannot thus be settled within six months, it shall, upon the request of either Contracting Party, be submitted to an ad hoc arbitral tribunal.
3. Such tribunal comprises of three arbitrators. Within two months of the receipt of the written notice requesting arbitration, each Contracting Party shall appoint one arbitrator. Those two arbitrators shall, within further two months, together select a national of a third State having diplomatic relations with both Contracting Parties as Chairman of the arbitral tribunal.
4. If the arbitral tribunal has not been constituted within four months from the receipt of the written notice requesting arbitration, either Contracting Party may, in the absence of any other agreement, invite the President of the International Court of Justice to make any necessary appointments. If the President is a national of either Contracting Party or is otherwise prevented from discharging the said functions, the Member of the International Court of Justice next in seniority who is not a national of either Contracting Party or is not otherwise prevented from discharging the said functions shall be invited to make such necessary appointments.
5. The arbitral tribunal shall determine its own procedure. The arbitral tribunal shall reach its award in accordance with the provisions of this Agreement and the principles of international law recognized by both Contracting Parties.
6. The arbitral tribunal shall reach its decision by a majority of votes. The arbitration decision shall be made within ten months from the date of constitution of the arbitral tribunal. Such award shall be final and binding upon both Contracting Parties. The arbitral tribunal shall, upon the request of either Contracting Party, explain the reasons of its award.
7. Each Contracting Party shall bear the costs of its appointed arbitrator and of its representation in arbitral proceedings. The relevant costs of the Chairman and tribunal shall be borne in equal parts by the Contracting Parties.
ARTICLE 9
SETTLEMENT OF DISPUTES BETWEEN INVESTORS
AND ONE CONTRCTING PARTY
1. For the purposes of this Article, an investment dispute is a dispute between one Contracting Party and an investor of the other Contracting Party that has incurred loss or damage by reason of, or arising out of, an alleged breach of this Agreement with respect to an investment of an investor of that other Contracting Party.
2. In the event of an investment dispute, the investment dispute shall, if possible, be settled by consultation or negotiation. If it is not so settled, the investor may submit the investment dispute for resolution under one of the following alternatives:
(a) a competent court of the state where the investment was made;
(b) international arbitration after four months from the date the dispute has been raised for consultation by either party
3. In case of international arbitration, the dispute shall be submitted, at the option of the investor, to:
(a) International Center for Settlement of Investment Disputes (ICSID) under the Convention on the Settlement of Disputes between States and Nationals of Other States, done at Washington on March 18, 1965;or
(b) an ad hoc arbitration tribunal es¬ta¬blished under UNCITRAL Arbitration Rules or any other arbitration rules agreed upon by both parties;
Provided that the Contracting Party involved in the dispute may require the investor concerned to go through the domestic administrative review procedures specified by the laws and regulations of that Contracting Party before the submission to international arbitration.
The domestic administrative review procedures shall not exceed four months from the date an application for the review is first filed including the time required for documentation. If the procedures are not completed by the end of the four months, it shall be considered that the procedures are complete and the investor may proceed to an international arbitration. The investor may file an application for the review during the four months consultation or negotiation period as provided in paragraph 2 of this Article.
Each Contracting Party hereby gives its consent for submission by the investor concerned of the investment dispute for settlement by binding international arbitration.
4. Once the investor has submitted the dispute to the competent court of the State where the investment was made, to the ICSID, or to the ad hoc arbitration tribunal referred to in Paragraph 3 of this Article, the choice of one of the three procedures shall be final.
5. An investor submitting an investment dispute pursuant to paragraph 3 of this Article shall give to the Contracting Party in dispute a written notice of intent to do so at least ninety days before the claim is submitted. The notice of intent shall specify:
(a) the name and address of the investors concerned;
(b) the specific measures at issue of such Contracting Party in dispute and a brief summary of the factual and legal basis of the investment dispute sufficient to present the problem clearly, including the provisions of this Agreement alleged to have been breached;
(c) the relief sought including, as necessary, the approximate amount of damages claimed; and
(d) the dispute-settlement procedures set forth in paragraph 3 (a) to (b) of this Article which the investor concerned will seek.
6. The arbitration award shall be based on the law of the Contracting Party to the dispute including its rules on the conflict of laws, the provisions of this Agreement as well as the principles of international law accepted by both Contracting Parties.
7. Notwithstanding the provisions of paragraph 3 of this Article, an investor may not make a claim pursuant to paragraph 3 of this Article if more than three years have elapsed from the date on which the investor first acquired, or should have first acquired, knowledge that the investor had incurred loss or damage.
8. The arbitration award shall be final and binding upon both parties to the dispute. Each Contracting Party shall commit itself to the enforcement of the award in accordance with its relevant laws and regulations.
ARTICLE 10
OTHER OBLIGATIONS
1. If the legislation of either Contracting Party or international obligations existing at present or established hereafter between the Contracting Parties result in a position entitling investments by investors of the other Contracting Party to a treatment more favourable than is provided for by the Agreement, such position shall not be affected by this Agreement.
2. Each Contracting Party shall observe any commitments it may have entered into with the investors of the other Contracting Party as regards to their investments.
3. Nothing in this Agreement shall be construed so as to derogate from the rights and obligations under international agreements in respect of protection of intellectual property rights to which the Contracting Parties are parties, including the Agreement on Trade-Related Aspects of Intellectual Property Rights, Annex 1C of the Marrakesh Agreement Establishing the World Trade Organization, and other international agreements concluded under the auspices of the World Intellectual Property Organization .
4. In fulfilling the obligations under this Agreement, each Contracting Party shall take such reasonable measures as may be available to it to ensure the observance of this Agreement by provincial governments in its territory.
ARTICLE 11
TRANSPARENCY
1.Each Contracting Party shall promptly publish, or otherwise make publicly available, its laws, regulations, procedures and administrative rulings and judicial decisions of general application as well as international agreements which may affect the investments of investors of one Contracting Party in the territory of the other Contracting Party.
2. Nothing in this Agreement shall require a Contracting Party to furnish or allow access to any confidential or proprietary information, including information concerning particular investors or investments, the disclosure of which would impede law enforcement or be contrary to its laws protecting confidentiality or prejudice legitimate commercial interests of particular investors.
ARTICLE 12
APPLICATION
This Agreement shall apply to investment made prior to or after its entry into force by investors of one Contracting Party in the territory of the other Contracting Party in accordance with the laws and regulations of the Contracting Party concerned , but not apply to the dispute arose before its entry into force .
ARTICLE 13
CONSULTATIONS
1. The representatives of the Contracting Parties shall hold meetings from time to time for the purpose of:
(a) reviewing the implementation of this Agreement;
(b) exchanging legal information and investment opportunities;
(c) forwarding proposals on promotion of investment;
(d) studying other issues in connection with investment.
2. Where either Contracting Party requests consultation on any matter of Paragraph 1 of this Article, the other Contracting Party shall give prompt response and the consultation be held alternatively in Beijing and Seoul.
ARTICLE 14
ENTRY INTO FORCE, DURATION AND TERMINATION
1. This Agreement shall enter into force on the first day of the following month after the date on which both Contracting Parties have notified each other in writing that their respective internal legal procedures necessary therefor have been fulfilled and remain in force for a period of ten years. Unless either Contracting Party gives a written notice to the other Contracting Party to terminate this Agreement one year before the expiration of this period, this Agreement shall be automatically prolonged for another period of ten years, and shall thereafter be renewable accordingly.
2. With respect to investments made prior to the date of termination of this Agreement, the provisions of this Agreement shall continue to be effective for a further period of ten years from such date of termination.
3. This Agreement may be amended by written agreement between the Contracting Parties. Any amendment shall enter into force under the same procedures required for entry into force of the present Agreement.
4. The Agreement on the Encouragement and Reciprocal Protection on Investments between the Government of the Republic of Korea and the Government of the People's Republic of China, signed on September 30, 1992, shall be terminated when this Agreement enters into force, and be replaced by this Agreement.
IN WITNESS WHEREOF the undersigned, duly authorized thereto by respective Governments, have signed this Agreement.
Done in duplicate in Sydney on Sep 7th 2007 in the Korean, Chinese and English languages, all texts being equally authentic. In case of divergent interpretation, the English text shall prevail.
FOR THE GOVERNMENT OF FOR THE GOVERNMENT OF
THE PEOPLE’S REPUBLIC OF CHINA THE REPUBLIC OF KOREA
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