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North Korea has enacted the laws related to Foreigner's investment including the dispute resolution clause in order to induce the foreigners to invest in North Korea. In accordance with the enactment of these laws, North Korea's Foreign Economic Arbitration Act was enacted to provide the foreign investors with the safe measures in their investments such as dispute resolution.The parties in dispute could apply for arbitration to Foreign Trade Arbitration Commission or Foreign Maritime Arbitration Commission and start the arbitration by selecting their arbitrators according to Foreign Economic Arbitration Act.Laws regarding to Arbitration in North Korea are Arbitration Act, Foreign Economic Arbitration Act, Regulations on the Foreign Trade Arbitration Commission, Regulation for treatment of cases in Arbitration Commission, Rules of Hearing. But North Korea does not open a full set of these Rules, thus it is very difficult for foreigners to understand the legal mechanism in arbitration.The purpose of this paper is to contribute to the activation of arbitration in North Korea by studying the arbitration clause in the laws related to Foreigner's investment and Foreign Economic Arbitration Act to induce the foreigners to invest in North Korea and finding the problems and solutions of the Foreign Economic Arbitration Act.