U. N. Convention on Contracts for the International Sale of Goods (hereinafter the 'CISG' or the 'Convention') has been in force more than 37 years. The CISG responds to the need for uniform sales law. First of all, the biggest barrier against the uniformity in sales law is so-called "homeward trend". Professor Honnold, who served as secretary of UNCITRAL during the time in which the CISG was developed, pointed out the danger of "homeward trend" like this in his Article. "One threat to international uniformity in interpretation is a natural tendency to read the international text through the lenses of domestic law." CISG Article 79 is the principal provision governing the extent to which a party is exempt from liability for a failure to perform any of his obligations due to an impediment beyond his control. So-called 'Manfred Forberich' decision regarding the article 79 represents the most extreme example of what is likely the most dangerous error that tribunals applying the CISG can make. CISG Article 79 only governs impossibility of performance, and there is a controversy whether a disturbance which does not fully exclude performance, but it considerably more difficult or onerous(hardship, change of circumstances, economic impossibility) can be considered as an impediment. Unlike PICC and PECL, the CISG governs contract of sale. Therefore, events such as a sudden increase in the price of raw materials or a dramatic devaluation of currency, will not allow the seller to avoid his liability for non-delivery of the goods or to require renegotiation of the terms of the contract of sale. We should bear in mind that the CISG should be interpreted and applied in the context of the CISG itself.

European Commission drafted and proposed the Common European Sales Law(CESL) to the European Parliament for the realization of a uniform set of international private law rules within the EU internal market. Since its purpose is for free international commercial activities for the sale of goods, for the supply of digital content and for related services, it was proposed to enable EU Member States to adopt or supplement as their substantive law according to their options. This study is relate to the legal bases on termination of a contract under CESL, they are composed of three parts: damages and interest, restitution and prescription. Damages and interest are divided into damages, general provisions on interest on late payments, and late payment by traders. Damages are explained by dividing into right to damages, general measure of damages, foreseeability of loss, loss attributable to creditor, reduction of loss, substitute transaction, and current price. Restitution is described by dividing into restitution on revocation, payment for monetary value, payment for use and interest on money received, compensation for expenditure and equitable modification. Prescription is explained by dividing into general provisions, periods of prescription and their commencement and extension of periods of prescription. General provisions explain right subject to prescription into a right to enforce performance of an obligation and any right ancillary to such a right. Regarding period of prescription, the short one is two years and the long one is ten years. However, in the case of a right to damages for personal injuries, period of prescription for such right is thirty years. Regarding commencement, the short one begins to run from the time when the creditor has become, or could be expected to have become, aware of the facts as a result of which the right can be exercised, while the long one begins to run from the time when the debtor has to perform. However, in the case of a right to damages, the CESL clarifies that it begins to run from the time of the act which gives rise the right.

In recent years in China, corresponding to a shift in consumption pattern from household basics to greater expenditure on quality of life, new franchising opportunities arise. Although the franchising prospect in China is promising, Korean companies aiming at franchising into China need to be aware of the legal framework for commercial franchise in China as this will have direct impact on their business expansion. Where franchising activities involve trade mark licence, Chinese Franchise Regulations require such trade mark licence agreement to be regulated in accordance with the relevant provisions of the Chinese Trademark Law. Furthermore where one party fails to perform his obligation and it impacts purpose of the contract seriously, the other party could avoid the contract in accordance with the relevant provisions of the Chinese Contract Law. To launch franchising business successfully in China, Korean companies do market research sufficiently before they may commence franchise business. Korean franchisor must register with local authorities in China by own name, and make Chinese partner take charge of management of the distribution network and invitation of franchisee partners.

The main purpose of this study is to analyse what are the key financial innovations in the euro area electronic payment systems. TARGET2 is the RTGS-system provided through the Eurosystem. It is used for settling central bank operations, for large interbank transfers in euro and also for other euro-denominated transfers. The specific features of TARGET2 include processing in real time, settlement in central bank money and immediate finality. In addition, the SEPA is a payment-integration initiative of the European Union for simplification of bank transfers denominated in euro. In particular, the main innovations consist of the completion of the phased migration to the TARGET2 infrastructure, and the introduction of a single retail payment market in euro - the SEPA and its products, schemes and frameworks. As the study analyse, the key innovations consist of the TARGET2 introduction, SEPA establishment and migration towards the T2S system. These innovations will lead to a better understanding of the payment and settlement systems' behavior in stress situations and to enhance the stability of the euro area financial system. Moreover, the successful integration of the European payment and settlement infrastructures will further contribute to the integration of the European financial markets, as well as to their higher competitiveness.

This study reviews the judgements by the Korean Supreme Court on the time of delivery of goods, as it depends on which bonded place the goods are kept for the purpose of the customs clearance. Thereafter, this study analyzes the Ocean Carrier's liability, when the cargoes are mis-delivered without the presentation of bill of lading in relation to the specific bonded place such as an independent bonded warehouse or a self-use bonded warehouse. Furthermore, considering that voyage charter is a kind of marine transport, this study also reviews whether or not the Court's judgements, which has been developed in respect of the carriage of affreightment, could be applied to voyage charter in respect of the time of delivery goods and the Ocean Carrier's liability for mis-delivery. Lastly, in the case that the substantial importer takes the goods from the independent bonded warehouse without the presentation of bill of lading after the customs clearance, it is noted that the Court has made the Ocean Carrier liable for the mis-delivery through the application of theory of double deposit contract. The position of the Court would be understandable in terms of the protection for the bona-fide holder of bill of lading, but this study reviews the limitation of liability as the device for the protection of the Ocean Carrier, considering the situation where the Ocean Carrier is somewhat unreasonably sacrificed under the bonded system provided for the convenience of substantial importer.

Many insurers have traditionally incorporated "fraud clauses" into insurance policies, setting out the consequences of making a fraudulent claim. Even in the absence of an express terms, English courts provide insurers with a remedy for a fraudulent claim. However, the law in this area is complex, convoluted and confused. English Law Commission think that the law in this area needs to be reformed for three reasons; (1) the disjunctive between the common law rule and section 17 generates unnecessary disputes and litigation, (2) increasingly, UK commercial law must be justified to an international insurance society, and (3) the rules on fraudulent claims are functioned as a deterrent if they are clear and well-understood. In order for these purposes, English Law Commission recommends a statutory regime to the effect that, when an insured commits fraud in relation to a claim, the insurer should (1) have no liability to pay the fraudulent claim and be able to recover any sums already paid in respect to the claim, and (2) have the option to treat the contract as having been terminated with from the time of the fraudulent act and, if chosen the option, be entitled to refuse all claims arising after the fraud, but (3) remain liable for legitimate losses before the fraudulent act. LC is not recommending a complete restatement of the law on insurance fraud generally. For example, LC does not seek to define fraud, instead, recommends the introduction of targeted provisions to confirm the remedies available to an insurer who discovers a fraud by a policyholder.

Russia has a huge amount of energy resources. It is an attractive factor to countries which spend loads of energy. Republic of Korea is also one of large energy consumption countries. Therefore, It will be needed to raise energy cooperation with Russia. It's companies will increase trade focusing on the energy industry in the long term. Recently, However, Foreign companies should be careful when they enter the rapidly changing Russia market. In other words, companies will need a strategic approach to prepare the early case assessment and how to solve a possible dispute as they analyze cost and profit in business. This study is analyzing several dispute cases related in Russia. It presents some strategies for Korean companies such as dispute resolution method, arbitration institution selection method and so on. In addition, it proposes the introduction of the early case assessment for reducing a waste of time and cost. Furthermore, according as the importance of OECD Guidelines for Multinational Enterprises is highlighted in international community, companies should prepare practical division to establish a system of responsible business conduct. Finally, they will have to get an advice and counseling from the Russia legal experts in the early stages of the contract.

This study attempts to analyze the trade costs of domestic firms utilizing the FTAs in terms of burden of expenses in managing the rules of origin. In doing so, we classify the managing costs of FTA rules of origin into three categories (that is, (i) ex ante costs from acquiring necessary information and building the infrastructure in the advance stage before the FTAs, (ii) the actual costs of the origin management in the application stage of FTA preferential treatment, (iii) ex post management cost in the preparation stage of origin verification) and perform a survey on the greater details on each category. Using the comprehensive results from the survey regarding domestic firm's use of FTAs, this paper also discusses the issues related to small and medium-sized firms and addresses the concerns involved with their managing costs of FTA rules of origin. Importantly, this paper emphasizes the importance of government supports to reduce inefficiency induced by the additional costs that domestic firms face in their use of FTAs and proposes the various policy implications regarding the managing costs of rules of origin.

The Korea China FTA was signed on June 1 2015. It includes some concessions regarding major export items in the manufacturing sector for the protection of primary industries and preferential tariffs for a number of products produced in the Kaesong Industrial Complex. Primary industries are what the Korean government paid the greatest attention to. Rice was excluded from the negotiations from the get go, and was joined by 548 other food items including pork, apples, pears, beef, chili, garlic etc. These foodstuffs account for about one-third of the agricultural and livestock products that Korea produces, and are not going to be subject to tariff elimination. The results of the study are as follows: Korean government policy is to maintain of agri-food export support system, eliminate of agri-food non-tariff barriers, foster of agri-food export SMEs and expand of investment of foreign agri-food company. Korean firms strategy is to establish of regional marketing strategy, ensure of high quality agri-food and develop of food packaging technologies, establish of agri-food export logistics center and take advantage of the FTA preferential tariff.

The accurate national trade statistics can show the real nation's trade situation, and contribute to setting up the national's trade plans and corporate's strategies. This study researches the differences between trade statistics and actual trade record among the national and international statistics and suggests improvement plans to solve the problems. There are 4 types' differences among the trade statistics as follows; First, a statistical differences between Korea Customs Service and Bank of Korea by yearly US$9.6billions because of standard and boundary of trade statistics. Second, a statistical differences between Ministry of Trade, Industry and Energy and Korea Customs Service because of the time and purpose of trade statistics release. Third, a statistical differences between Korea and counterpart countries because of standard of trade statistics, intermediate countries and rules of origin. Lastly, a statistical differences between nation's statistics and corporate record because of typing errors and indirect export record. The fundamental improvement plans are Korea statistics rules like Korea Foreign Trade Rules and Korea Custom Rules, need to coincide with the international rules like IMTS, MSITS, BPM6 etc. Especially the rules of statistics related to intermediary trade, processing trade and transit trade have to revise with new BPM6 rules. In addition, a reasonable care of trade statistics from accumulation to utilization of trade information is more important than statistical regulation or system, so all persons concerned including exporters, importers, government official pay attention the statistics and cooperate together.

The cooperation among industry, academy and government is the main factor for world leading trade country. In particular, many papers and research is greatly helpful for finding the needs of industry and establishing strategies. Academic activities have significantly contributed the development of trade. In recent time, the approach based on complexity, convergence and consilience in increasing in academic fields for more mutual understanding and exchange of ideas. For this reason, joint research is necessary in trade. In this research, author can find not only the trend of joint research but also the centrality of trade researchers in the excellent journals in Korea by use of Social Network Analysis.