SIAC by the Numbers: What their 2024 Statistics Reveal

SIAC’s 2024 Annual Report reveals record-breaking caseloads, efficiency innovations, and growing global trust.  

1. Continued Robust Caseload & Global Reach 

• 625 new cases (94% administered by SIAC), with a total sum in dispute of USD 11.86 billion.  
• 91% were international, involving parties from 72 jurisdictions. Top users: South Korea, China, India, USA, Hong Kong SAR and the UAE.  
• Fastest-growing sectors: Trade (29%), Corporate (19%), and Construction (11%).  

2. Efficiency Wins 

• 143 Expedited Procedure (EP) requests (66 accepted), bringing SIAC’s total EP cases since 2010 to 1,039.  
• 21 Emergency Arbitrator (EA) applications (all accepted), with 173 EA cases since 2010. Most EA disputes arose from the Corporate (39%) and Commercial (20%) sectors.  
• 13 Early Dismissal (ED) applications and 7 were allowed to proceed; of the 7 applications, 3 were granted (1 in whole, 2 in part), 3 were rejected, and 1 was pending under Rule 29.3 of the SIAC Rules 2016. 

3. Diversity & Scrutiny 

• 35% of arbitrator appointments were women (up from 31% in 2023).  
• 73% of SIAC’s workforce is female—a model for gender equity in arbitration.  
• 167 awards issued in 2024, all scrutinized by SIAC for enforceability.  

4. Regional Growth 

• South Korea emerged as a top user, reflecting SIAC’s expansion in Northeast Asia.  
• Latin America and the Middle East saw increased engagement, with new MOUs (e.g., Saudi Center for Commercial Arbitration).  

5. Release of the 2025 SIAC Rules  

As explored in our in-depth analysis, the 7th Edition SIAC Rules (2025) - launched in January 2025 - introduces groundbreaking changes:  

• Streamlined Procedure: A new track for low-value disputes (50% fee discount), reducing time/costs.  
• SIAC Gateway: A digital case management system (launched August 2024) enabling real-time tracking and e-filing.  
• Stronger Mediation Integration: Codified Arb-Med-Arb provisions to encourage settlements.  

For a detailed breakdown of these innovations and their impact, read the full article here.  

Why It Matters: 

SIAC’s data underscores its role as both a Global and Asian arbitration hub, combining speed (average case duration: 15 months), innovation (AI-driven tools), and neutrality (diverse arbitrator pool). The willingness of the SIAC Tribunals to grant 23% of Early Dismissal applications highlight SIAC Tribunals’ willingness to use SIAC’s more robust framework for weeding out unmeritorious claims. For businesses, this means enforceable awards and cost-effective resolutions.