• Journal of Arbitration Studies
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• v.15 no.3
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• pp.267-301
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• 2005

Following the increased economic corporations between the South and North Korea, many companies participate the corporation program. They needs insurance policy as a scheme for the transfer of risk from those individual company to it to an insurer. This paper review the possibility of the North Korea insurance authorities and research the origin, history, structure and context of the North Korea insurance law. The North Korea Insurance law differ from the South Korea and China's. North Korea Insurance authority has not capability of doing insurance business both side of underwriting and indemnity. Partly, it caused the uncertainty, insufficient and vague of the insurance law. The writer conclude that the North Korea insurance law faced to the needs of modernization. Especially, the Gyesung Industrial Complex Insurance Regulation couldn't cover the investor and company's risk because it is not based on the nature and basic principles of insurance.

• Journal of the Korean Society of Marine Environment & Safety
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• v.14 no.3
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• pp.227-233
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• 2008

Recently, the transport quantity of goods between South and North Korea is rising rapidly by increasing of economical exchange between South and North Korea and growth of Gaeseoung industrial complex. In addition to a land transportation route, it is necessary to secure various logistics and transportation route for freight transportation between Incheon and Gaesung. In this paper, we investigated a construction of barge transportaion system between Incheon and Gaesung. The barge transportation system which has many merits such as a little initial investment and convenience of harbor loading/ unloading has been also used to transport freight widely in the EU and USA. Firstly, we investigated barge transport route, marine freight and barge fleet which consists of barge and pusher between Incheon and Gaesung. And next, we designed hull form and general arrangement of a barge and pusher based on shipping service condition, barge fleet, etc. Finally, a construction plans of barge transport system such as a operation of shipping service, berthing facilities, logistics center, intermodal transport are investigated.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.7 no.2
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• pp.91-99
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• 2012

The political conflicts and military collisions between the South-North Korea resulted in actions taken at 1 of Dec. in 2008 and 24 May in 2010. Those actions stopped the major economic cooperations such as the relink of a railroad line across the divided peninsula as well as Mt. Geumgang tourist trade, and cast shade on the Gaesung Industrial Complex. This article articulates the current situation of the economic damages, status quo of cooperation and the South Koreans' changed way of thinking about issues between the South and North which provoked by the conflicts. We emphasized the necessities of minimizing unstable non-economic factors on the Peninsula; continuing win-win economic cooperation between the South-and North corporations; guaranteeing safe business conditions; improving the relationship based on the national consensus. Also we suggested ideas on how to manage the economic cooperation and how to explore new business opportunities in the future based on entrepreneurial leadership.

• Journal of Arbitration Studies
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• v.16 no.2
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• pp.3-49
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• 2006

The purpose of this paper is to make research on the settlement mechanism of the commercial disputes between the South and the North of Korea. Also, this paper is to make research on the south-north Korea's cooperative tasks to promote the disputes settlement, including the operation and management of the South-North Arbitration Commission as well as the enactment of the South-North Arbitration Rules. To realize the spirit of the South-North Joint Declaration of June 15, 2000, the Authorities concerned of the South and the North of Korea have reached an agreement titled 'Agreement on Settlement Procedure of Commercial Disputes' on December of the same year. As the follow-up measures of the said Agreement, the South-North Authorities have signed an another agreement called 'Agreement on Organization and Administration of the South-North Arbitration Commission' on October, 2003, which is becoming vital importance for settlement of the commercial disputes between south and north Korea including the Gaeseong Industrial Complex. Gaeseong, a city surrounded by the North Korean military and a symbol of inter-Korean tensions, is now turning into a peace zone where thousands of North and South Koreans are working side by side. The Gaeseong Industrial Complex project, driven by the logic and economic necessity of cooperation, has been steadily moving forward since the North designated it as a special economic zone and has enacted related laws and regulations for its development. Under the situation, the matter of primary concern is how to organize and conduct the Arbitration Commission for the prompt and effective settlement of the south-north commercial disputes. First of all, the South-North Authorities should recognize that the availability of prompt, effective and economical means of dispute resolution such as arbitration and mediation to be made by the Arbitration Commission would promote the orderly growth and encouragement of the south-north trade and investment. In this connection, the Korean Commercial Arbitration Board(KCAB) should be designated as the arbitral institution of the south Korean side under the Agreement on Organization and Administration of the South-North Arbitration Commission. The KCAB is the only authorized arbitral organization in South Korea to settle all kinds of commercial disputes at home and abroad.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.12 no.1
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• pp.25-31
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• 2017

The objective of this study is to find the failure factors of venture companies. We analyze 210 troubled venture companies, all of which have been under guarantee from the Korea Technology Finance Corporation over the last three years. Methods of analysis for failure factors are as follows. First, we categorize the failure factors into the four different types based on growth and profitability indicators in the financial statements of targeted venture companies. Then we analyzed the failure factors of the subject companies based on the troubled guarantee reports made by the Korea Technology Finance Corporation. If a venture company under its guarantee program falls into insolvency, the Korea Technology Finance Corporation make the troubled guarantee report to find out the failure factors and evaluate the recovery potentials. We identify 374 failure factors of venture companies through the analysis. The most prominent among them are deteriorating of business environments (79 factors) and decreasing or withdrawing orders from major suppliers (54 factors) due to bankruptcies or change in business plans. They are followed by slowing collection of accounts receivable (31 factors), dropping or frozen product price (24 factors) due to intensifying competition and escalating pressures from major suppliers, rising raw material costs both at home and abroad (21 factors). In addition, the nuclear power plant disaster in Japan, shut-down of the Kaesong Industrial Complex and subsequent lawsuits, delay in technology development projects, high cost-low efficiency management structure, etc., are also revealed as new factors causing trouble for venture companies.

• Journal of the Korean Geographical Society
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• v.51 no.5
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• pp.713-737
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• 2016

This study is to review research issues on North Korea and unified territory in terms of topics and approach method in Korean human geography. The conclusion of this paper is as follows. Before 1980's, topics on political geography, such as geopolitics or unified land, were the main stream in research. In 1990's with the end of the cold war and the access to material which was published in North Korea, scope of research was widened especially in geography education. After 2000's with the expansion of cooperation between South and North Korea, the scope of topics were more expanded in all field of human geography, for example, critical geopolitic in political geography, Gaeseong Industrial Complex, Najin-Seonbong region in economic geography, place names, Geumgangsan, North Korean defectors in social and cultural geography. The approach method of toward North Korea is fall into two categories. One is regional geography and the other is the unified land. In the latter approach, topics on the regional structure after reunification or on the life adaptation of defectors in South Korea etc. were studied. After unification of land, new Korean Studiea will be established and human geographers should make ready for this. Before unification, research on the land in north Korea should be proceeded in terms of historical geography.

• Journal of the Korean Institute of Gas
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• v.20 no.4
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• pp.7-14
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• 2016

The economic crisis in North Korea has reduced its capacity to invest in the energy industries. The country is going through a vicious cycle of decreased investment in the energy industries and reduced energy production. This suggests that the energy industries would come to the top priority of investment once the economy improves. This paper calculated the economic ripple effect of the investment on North and South Korean economies based on the assumption that 390 billion won was invested in the construction of a natural gas combined-cycle power plant in Gaesong Industrial Complex. In order to analyze the economic ripple effect of the investment on North Korean economy, we constructed the inter-industry relation table of North Korea for year 2014 and used the input-output model. The ripple effect of the investment in the natural gas industry turned out to be 1.012 billion dollars. In order to analyze the effect of the investment on South Korean economy, we constructed the inter-industry relation table of South Korea for year 2013 and used the demand-driven model for inter-industry analysis. As a result, production, added-value and employment inducement coefficients of the investment in the natural gas industry were calculated as 2.02073, 0.62697 and 8.99409 respectively.

• International Area Studies Review
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• v.20 no.1
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• pp.277-295
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• 2016

It is undoubtedly true that national security in Korean peninsula is on the road to destabilization. The main factors are known to be North Korea's development and experiment on nuclear arms, especially the forth nuclear experiment on January 6th, ICBM launch February 7th, and encroachment upon the territory the NLL on the 8th along with the shutdown on Gaeseong Industrial Complex. Also, China's trouble with other nations over sovereignty over islands in the South China Sea and the fact that Japan's government is veering to the right side and having territorial dispute are making the case worse. Nations in Northeast Asia are striving to obtain the interest for the sake of their own country. In order to do so, they're walking the path to achieve national security. Until then, they are not so willing to participate foreign matters or economical race. Even in our perspective, these issues are many of the main problems which our country is currently facing. However, it is important for them to avoid making policies which may take away the citizen's happiness. The number one priority for the nation or any form of a group is to act in the best interest for the national security and the citizen's happiness. They are the main factors why a nation could exist. They are the symbols of a nation's sovereign authority. Countries outside are proving it by increasing their national defense budget even in this unprecedented economical crisis. If we are willing to stay the same as ever, the disparity in the military force will not be the same in the future. In conclusion, the study examines the problem which changes in Northeast Asia's defense environment could bring and the appropriate amount of national defense budget in order to support the nation's integration of its abilities to move toward South and North Korea's unification.

• Journal of the Korean Association of Geographic Information Studies
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• v.22 no.3
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• pp.51-64
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• 2019

Mt. Geumgang has been a scenic spot representing the Korean peninsula since the Joseon Dynasty, and became a symbol of inter-Korean exchanges with the Gaesong Industrial Complex after the division of the South and North. Mt. Geumgang Tour Course is divided into the Inner-Geumgang (Naegeumgang) and the Outer-Geumgang (Oegeumgang). It was common for the Mt. Geumgang tour route during the Joseon Dynasty and the Japanese Imperialization period to enter the Inner-Geumgang, near Seoul, and come to the East Sea through the Outer-Geumgang. However, the tour route starting from Goseong was utilized for the Mt. Geumgang tour course operated by Hyundai. Because North Korea opened only the Outer-Geumgang area. North Korea has only opened some of its tour courses to Hyundai, but if Geumgang tourism is resumed in the future, there is a high possibility that it will be opened further, such as opening some sections of the Inner-Geumgang in 2007. In this case, it is necessary to connect additional transportation networks to access Inner-Geumgang from South Korea. The best alternative was the restoration of the Mt. Geumgang Railway. However, considering the fact that the reconstruction of the Mt. Geumgang Railway can not be completed due to the construction of the Imnam Dam, it is the most realistic alternative to restore Route 31 connecting Yanggu and Geumgang-eup. As a result of the analysis of road connecting Inner-Geumgang, three routes were confirmed. All of which were adjacent to the existing National Route 31. These routes passing through Dutayeon and Mundeung-ri and joining the Route 31 from Inje. Considering road length, topography characteristics, and military facility layout, it seems that the connection of 'Dutaeyun - Mundeung - Geumgang' is a realistic alternative connecting from South Korea to Inner-Geumgang.

• Journal of Arbitration Studies
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• v.30 no.2
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• pp.91-120
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• 2020

The Scope of Application of North Korea's Foreign Economic Arbitration Act and Foreign Investment Act This article examines whether the Foreign Economic Arbitration Act and the Foreign Investment Act of North Korea apply to South Korean parties or companies. This article analyzes laws and agreements related to economic cooperation between South Korea and North Korea. Furthermore, this article compares and evaluates laws related to foreign investment and enacted in North Korea. Now, North Korea's door is closed due to economic sanctions against it, but it will be opened soon. Thus, this article prepares for the future opening of North Korea's markets. Is there a rule of laws in North Korea or just a ruler? Are there laws in North Korea? North Korea has enacted a number of legislation to attract foreign investors, referring to those Chinese laws. For example, North Korea enacted the Foreigner Investment Act, the Foreigner Company Act, the Foreign Investment Bank Act, the Foreign Economic Arbitration Act, the Foreign Economic Contract Act, the International Trade Act, and the Free Economy and Trade Zone Act, among others. Article 2 (2) of the Foreign Investment Law of North Korea states, "Foreign investors are corporations and individuals from other countries investing in our country." It is interpreted that South Korea is not included in the "other countries" of this definition. According to many mutual agreements signed by South Korea and North Korea, the relationship between the two Koreas is a special relation inside the Korean ethnic group. An arbitration between a South Korean party and a North Korean party has the characteristics of both domestic arbitrations and international arbitrations. If the South Korea and North Korea Commercial Arbitration Commission or the Kaesong Industrial Complex Arbitration Commission is not established, the possibility of arbitration by the Chosun International Trade Arbitration Commission, established under North Korea's Foreign Economic Arbitration Act, should be examined. There have been no cases where the Foreign Economic Arbitration Act is applied to disputes between parties of South Korea and North Korea. It might be possible to apply the Foreign Economic Arbitration Act by recognizing the "foreign factor" of a dispute between the South Korean party and North Korean party. It is necessary to raise legislative clarifications by revising the North Korea's Foreign Economic Arbitration Act as to whether Korean parties or companies are included in the scope of this Act's application. Even if it is interpreted that South Korean parties or companies are not included in the scope of North Korea's Foreign Economic Arbitration Act, disputes between South Korean companies and North Korean companies can be resolved by foreign arbitration institutes such as CIETAC in China, HKIAC in Hong Kong, or SIAC in Singapore. Such arbitration awards could be enforced in North Korea pursuant to Article 64 of North Korea's Foreign Economic Arbitration Act. This is because the arbitration awards of foreign arbitration institutes are included in the scope of North Korea's Foreign Economic Arbitration Act. The matter is how to enforce the North Korean laws when a North Korean party or North Korean government does not abide by the laws or their contracts. It is essential for North Korea to join the New York Convention (Convention on the Recognition and Enforcement of Foreign Arbitral Awards) and the ICSID Convention (Convention on the Settlement of Investment Disputes Between States and Nationals of Other States).