||The Effect of Korea-Japans bilateral investment treaty (BIT) and its implications
It is not likely that a new multilateral investment treaty will emerge in the
near future, so the need for a bilateral investment treaty (BIT) is continuously
increasing. Furthermore, the movement of launching a new BIT with a higher level of investment rule than the existing WTO will likely be. Korea has steadily entered into the BIT, and as a result, Korea concluded the BIT with a total of 71 countries as of Nov. 5, 2002, and among them, treaties with 62 countries are actually in effect. The Traditional BIT includes the national treatment and/or most favored nation treatment, compensation for expropriation, freedom of monetary transfer, dispute settlement, etc., and thus, the primary purpose of the treaty was to secure investment property or business activities. More specifically, the main purpose focused on protecting the investor s assets or activities after investment.