Shipbuilding industry is one of the most influential ones in Korea. As shipbuilding industry is labor-intensive, it contributes to enhancing both local economy and national economy. Shipbuilding industry has been downsizing since the end of 2008 due to global financial crisis caused by America's sub-prime mortgage and aggravated by European countries' fiscal deficit. As a large fund is required for a single normal shipbuilding contract, fund raising is one of the most important elements in shipbuilding contract. Shipbuilding contract, requires refund guarantee in order for a buyer to reimburse the progressive payment paid to a builder. The disputes under shipbuilding contracts are mostly settled by arbitration rather than by law suit. English laws and English courts have been preferred for the choice of law as well as for the choice of forum. Due to depreciation of the ship value since the end of 2008, a number of buyers are trying to cancel the contract by raising unjust claim under the contract. Once disputes occurs regarding shipbuilding contract, a large amount of loss is inevitable. In order to mitigate the disputes arising from the shipbuilding contract, careful caution is required in drafting a shipbuilding contract.

Since the 9.11 terror attack, the event which caused supply chain disruption, supply chain security has become more important than ever before. With this as a momentum, a customs supply chain security paradigm emerged intended to guarantee secure flow of cargo across boarder. Under this circumstances Incoterms(R) 2010 rules have allocated obligations between the buyer and seller to obtain or to render assistances in obtaining security clearances. Thus, security related obligations such as providing advance manifest information is the mandatory requirements for any export and import. The impact on the seller and buyer of security related obligations under the Incoterms(R) 2010 rules environment is obvious. Assistance to provide the security information in advance has become indispensable obligations to the seller and buyer. As such assistances is at the cost and risk of the party responsible for the clearances of the goods, the choice of recognised partner and compliance with the relevant security program, in order to enjoy the relevant benefits, becomes paramount.

The Incoterms(R) 2010 rules take account of the continued spread of customs-free zones, the increased use of electronic communications in business transactions, heightened concern about security in the movement of goods and changes in transport practices. And the Guide to Incoterms(R) 2010 is the authoritative companion work to Incoterms(R) 2010, the ICC rules on the use of domestic and international trade terms. The guide responds to business needs for a better understanding of these ICC rules that are used in countless commercial transactions every day. But, contrary to the previous guidebook, there is many errors and mistake in the Guide to Incoterms(R) 2010 which should be amended. The purpose of this paper is to point out the problems and amend the errors and unify the expression in guidebook.

According to the United Nations Convention on the International Sale of Goods, the Seller must deliver the goods, hand over any documents relating to the them and transfer the property the to the goods as required by the contract, and buyer must pay the price for the goods and take delivery of them as required by the contract. In particular, the seller provides the documents is important. If the documents are discrepancies in credit, the beneficiary may not receive the payment. So It is important to study on conditions of documents in international trade. Documents provided by the seller shall be determined by express terms. If there is no agreement on the express terms, it shall be determined by the implied terms or governing law terms. In practice Seller shall provide the documents are as follows, For example, transport documents, commercial invoice, certificate of origin, insurance policy, packing list, inspection certificate etc. As stated above if it can not be determined by express terms, it is determined by the implied terms. In international trade, leading to the implied terms is incoterms(R) 2010 and UCP 600. Incoterms(R) 2010 define the seller must provide the goods and the commercial in conformity with the sales contract and any other evidence of conformity that may be required by the contract and UCP 600 are rules that apply to documentary credit. This paper, the practical utility between Incoterms(R) 2010 and UCP 600 is studied.

Seller shall deliver the goods with a perfect condition of packing or container in international trade. Unless otherwise seller shall warranty that the goods arrive at destination with a safe and economic value. Buyer may ask packing is to be made in specific condition or refuse to accept when the packing is not made in accordance with trade customs between among merchants. Especially packing is to be considered under the local law and process. Sometimes tax will be added to specific condition of packing for example glasses, metal sheet or others. Warning signs shall be included as form of both words and diagrams, and be in form of ensuring understanding in the local market. Wide range of warning signs can be used for communications and understanding of packing. Packing of a product can usefully symbolize a range of product information, or any relevant warnings, and give an opportunity for displaying messages of promoting the company and the goods. The seller may choose the best method to maintain its value but find a way to reduce packing cost, size for convenience during delivery, design, and local customs. There are many things to be considered for packing to seller. The purpose of packing is to protect the goods itself and to maintain its economic value during storage, delivery, transshipment, and distribution to end users.

This article examines the limitations of the choice of law caused by Internationally Mandatory Rules in Entering into the Turn-Key Contracts. In June 2007, Clough Engineering, a corporation based in Western Australia, approached the Federal Court of Australia seeking injunctive relief and leave to commence proceedings against an entity located outside Australia, the Oil & Natural Gas Corp of India (ONGC). Clough had contracted with ONGC to provide a range of services in relation to the construction of gas and oil wells off the coast of India. The contract was governed by Indian law, and included a clause by which the parties agreed to submit their disputes to arbitration. Yet the Federal Court assumed jurisdiction over the dispute, principally because Clough had framed its claim as a plea for relief for contraventions of Australia's Trade Practices Act 1974. The result of this cases that it is possible for an arbitral tribunal to hear a claim made under the Trade Practices Act even if that claim arises "in connection with"a contract the proper law of which is not the law of Australia. However, in Transfield Philippines Inc v Pacific Hydro Ltd, the turnkey contract included a choice of law provision, selecting the law of the Philippines, and a clause providing that all disputes arising out of or in connection with the agreement were to be arbitrated under the ICC Rules, with the seat in Singapore. Hearings were in fact conducted in Melbourne, Australia, although all awards were published in Singapore. The result of this cases that it would not be appropriate for an Australian court to adjudicate claims for misrepresentation under Australian statutes dealing with misleading and deceptive conduct, once the arbitral tribunal had determined, applying appropriate choice of law rules, that such claims are governed by the law of the Philippines. To do so would lead to a multiplicity of proceedings, usurp the jurisdiction of the tribunal and deny the intention of the parties as expressed by them in the arbitration agreement. In short, the Internationally Mandatory Rules as an active part of public order create limitation of party autonomy in choice of law rules in a different way. The court is fully entitled to refuse to use those rules of law applicable on the contract which are in the contradiction to the internationally mandatory rules of law of the forum. And the court may give an effect to those Internationally Mandatory Rules that form a part of a law of foreign country when deciding about applicability of certain rules of applicable law.

The purpose of this study is to find out some countermeasure to Korean companies entered Chinese market through analyzing an arbitration case resolved by CIETAC applied of Chinese Commission Agency Law and CISG. China create legal relationship between the principal and the third party under Chinese Consignment Contract Law. Korean companies so make sure whether this Contract is included when they conclude international commercial contract. If yes, they have to prove their recognition for the relationship between the principal and the commission agent when needed. If the parties agreed an additional period of time of delivery and the seller do not deliver the goods within this period, this breach might be regarded as fundamental nature and the buyer could declare the contract avoided. In addition, late delivery might also be regarded as fundamental breach when market price is fluctuated. It is understandable that attorney's fees is recoverable one, but it is not understandable that arbitrator's extra expenses such as travel and accommodation expenses is not recoverable with the reason that arbitrator comes outside of the country.

This Work intends to study on some issues of business and law in relation to Contract for Turnkey Base System. The continuing advance of export system of the plant with the importance for efficient and effective management emphasizes the need for business and legal approach to uniform international model contract. ICC Model Contract for Turnkey Supply of Industrial Plant by ICC covers a particular category of turnkey contract, i.e. contracts for the supply of a plant or production line to be erected within facilities which already exist or which are constructed by the purchaser. Furthermore, the application of the ICC Model Contract for Turnkey Supply of Industrial Plant leaves much to be desired from a business and legal point of view. Therefore, there would appear to be room for compromise between the supplier and purchaser in respect to make a contact for Turnkey supply of industrial plant.

International Hull Clauses(IHC(2003)) which have replaced the old system, Institute Time Clauses, Hull(ITCH), used more than 100 years in the shipping industry that did not fit the reality of the market and customs was announced in 01/11/2003 and was intended to supplement the existing issues to reflect the terms that had been used. IHC(2003) was composed of systematical and logical phrases to minimize the conflict which happened between the insured and the insurer after the incident. But IHC(2003) is being ignored by both the insured and the insurer in the shipping industry due to the differences in both positions. In addition, the studies about IHC(2003) in local academics are very low and many companies in the shipping industry are using both systems, IHC(2003) and ITCH so the usage of IHC(2003) is not so activated. Thus, this study will examines the main features and the compositions of IHC(2003) and compare IHC(2003) with ITCH(1983) in some provisions in both systems and then derive some similarities from the both systems and finally would suggest the necessity and validity of active use of IHC(2003).

The CMI Rules for Electronic Bills of Lading were based on sound principles that are now reflected in the provisions of the Rotterdam Rules, which provide for the use of electronic equivalents to bills of lading. Services involving bills of lading which exist in electronic form for at least part of their lives, and which use encryption to guarantee integrity and security of these electronic records, are already being offered by a number of carriers, among them APL. The relative success of APL's system demonstrates that the use of a system which embodies the basic ideas and processes underlying the CMI Rules could easily become a practical reality in the near future. The basic principles in the CMI Rules and the Rotterdam Rules adopt a minimum requirements approach and does not flesh out the details of procedures for the use of electronic bills. This is an improvement, as it allows adaptability to future technological developments. Successful electronic bill of lading systems can only be developed in response to customer demand, and carriers are in the best position to gauge this and design systems to cater for it. APL has demonstrated this by creating a system which is tailor-made to its customers' requirements. The CMI Rules were correct in their assumption that electronic bill of lading services should be provided by carriers. They also seem to have anticipated that the switch to the electronic medium would not be sudden and complete, but would require a gradual phasing out of paper documents over a long period of time.

The European Union (EU) has introduced the EU Emissions Trading Scheme (EU ETS) as one of the key policies to reduce the level of greenhouse gas emissions and in July 2008, they decided to include aviation in the scheme. As soon as the decision was announced the EU ETS was met by sharp opposition from world governments and international aviation. A group of US airlines, in particular, dropped a lawsuit against the British government over aviation's inclusion in the EU ETS. On 21 December, the Court of Justice of the European Union (CJEU) ruled that aviation's inclusion in the EU ETS which covers all flights arriving into and departing from the EU is legal and does not contravene international law. The scheme eventually came into effect on 1 January 2012. However, most countries are in opposition to the EU ETS and have agreed on counter-measures to undermine the EU's plan which may bring chaos to the aviation industry if such measures were to put into practice. This study therefore will analyze the likely effects that may be brought to the Korean aviation industry as a result of the inclusion of aviation in the EU ETS. Further, it hopes to contribute to the Korean aviation industry by studying other countries' counter-measures in advance.

This study analyses the transformation of Asian steel trade and the change of corporate strategy. The purpose of this paper is to examine the circumstances of Asian steel industrial policies, and considering the feature of each nation's steel industrial policies, and the effect of the corporate strategy. In China, mighty steel productive capacity had already formed under original planned economy and industrial policy. In 2003, crude steel production have exceeded 220 million ton in China and that is 23.2% of the steel production share in the world. On the other hand, not only the amount but also the quality becomes an important point in the steel industry in the future. I consider, on researching Asian steel industry, it is important to build up partnership in Korea and Japan for achieve strategic alliance in the steel industry policies and understanding the change of corporate strategy.