• Korea Trade Review
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• v.46 no.2
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• pp.93-106
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• 2021

This study analyzes trade communication methods by comparing and analyzing payment methods and procedures of L/C and BPO transactions. As a result of the study, BPO transaction is validated based on the combination results of the confirmed baseline and data set unlike the L/C transaction. Therefore, BPO is superior to L/C transaction in that there is no confrontation between the parties over the matching results. And it can proceed with certain transaction that is paid first and proved later. In addition, the process of accepting data mismatches results in a confirmation of the payment commitment considering the intention of the importer. This allows flexible disposition of documents in response to the post payment situation as long as the documents are held by the exporter, which can be said to be superior to the L/C transaction.

• Journal of Korea Trade
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• v.27 no.2
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• pp.1-21
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• 2023

Purpose - The bank payment obligation is a transaction method that combines the certainty of L/C transactions with the speed of remittance payments, so the main purpose of this study is to highlight the superiority of bank payment obligation, noting the difference between bank payment obligation and L/C transactions. In addition, we would like to examine how bank payment obligations can actually be applied to support various valuable proposals such as post-shipment and post-shipment finance according to the payment process.. Design/methodology - This study focused on literature based on data from ICC and SWIFT along with previous domestic and international studies. In terms of a research method, a literature review was adopted with electronic trade-related books and journals and policy-related reports from international trade-related agencies. Findings - Unlike L/C transaction, BPO transaction verify the data inquiry process based only on the combination result of the established baseline and dataset. Accordingly, it is superior to L/C transaction in that there is no confrontation between the parties over the results of the inquiry, and clear transactions are possible according to the principle of proof after prepayment. In addition, unlike credit transactions, data inconsistency acceptance procedures confirm payment obligations in consideration of importers' intentions. As a result, as long as trade documents are in the hands of exporting countries, flexible document disposition is possible in response to the situation after payment, which is more advantageous than L/C transaction. Originality/value - Specifically, from the importer's point of view, BPO transactions have the advantage of reducing the manpower required to prepare and review trade documents and processing transaction negotiations with exporters advantageously due to the strength of payment obligations. From the perspective of the exporter, it has the advantage of enabling rapid recovery of trade payments and reducing the risk of importer's cancellation of transactions or content change. From the perspective of participating banks, it is possible to strengthen relations with importer and obtain high commission income by increasing the role of bank reduced by reducing L/C transaction.

• International Commerce and Information Review
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• v.7 no.3
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• pp.97-111
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• 2005

This paper object is application of electronic Customers Relationship Management(e-CRM) for buyer This paper focuses on the possibility of the adaption of Escrow system in Local L/C opening and payment. The purposes of this study are to obtain efficiency and stability of Local L/C and to provide opportunity to accept trust of the transaction parties. The results of the study show that Escrow system is recommended when Local L/C opened, because Escrow system has the following merits: (1) Open system of internet can be used to Local L/C process. (2) Transaction process of Escrow system is very simple. (3) One stop transaction can be applied to all the process of local L/C.

• Proceedings of the CALSEC Conference
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• 2001.08a
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• pp.493-501
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• 2001

B2C is not doing well in Asia and Pacific countries in comparison to U.S. and Europe. But there is misunderstanding of low growth of B2C electric commerce caused by cultural factor. Consumers in market are rational to decide their purchase according to total cost - market price and transaction cost. I examined this with data of Korea and U.S. Transaction cost in real market is less in Korea than in U.S. but that of electric commerce, it is much less in U.S. As a result, the choice of consumers in Korea is real market transaction while consumers in U.S. choose electric commerce.

• The Journal of the Korea Contents Association
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• v.12 no.5
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• pp.404-414
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• 2012

B2B2C distribution channel between travel agencies, the travel franchiser's fairness become a big issue. So this study examines the effects of B2B transaction fairness between travel agencies on relationship-orientation and travel franchisee's performance. The research results are as follows: First, the most influential factor on the franchisee's performance was found as relationship-orientation factor. Second, among the 3 variable factors of B2B transaction fairness, the most influential factor on the franchisee's relationship-orientation was found as interactional fairness. And procedural fairness was found as next. Third, distributive fairness and interactional fairness were found to have a significant effect on franchisee's financial performance. And distributive fairness and procedural fairness were found to have a significant effect on franchisee's non-financial competency. Conclusively, excellent employees of travel franchiser' are the most valuable factors in B2B2C transactions due to the nature of the travel industry where human services are valued above everything else.

• Journal of the Korea Society of Computer and Information
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• v.27 no.3
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• pp.173-182
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• 2022

In this paper, we propose a machine learning model that can prevent fraudulent transactions in advance and interpret them using the XAI approach. For the experiment, we collected a real data set of 12,258 mobile phone sales posts from Joonggonara, a major domestic online C2C resale trading platform. Characteristics of the text corresponding to the post body were extracted using Doc2vec, dimensionality was reduced through PCA, and various derived variables were created based on previous research. To mitigate the data imbalance problem in the preprocessing stage, a complex sampling method that combines oversampling and undersampling was applied. Then, various machine learning models were built to detect fraudulent postings. As a result of the analysis, LightGBM showed the best performance compared to other machine learning models. And as a result of SHAP, if the price is unreasonably low compared to the market price and if there is no indication of the transaction area, there was a high probability that it was a fraudulent post. Also, high price, no safe transaction, the more the courier transaction, and the higher the ratio of 0 in the price also led to fraud.

• Journal of Information Technology Services
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• v.14 no.1
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• pp.69-83
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• 2015

The e-commerce market has been more diversified via B2B or P2P, and the size of this market has gradually been expanded as well. A noteworthy phenomenon is the P2P market, which has shown a rapid, approximately 200-fold or more increase in size since 2005. Specifically, the online secondhand-goods market that makes transaction easier and more convenient has attained a fast growth as well, but either sellers or buyers of secondhand goods are properly protected due to a lack of legal regulations on secondhand-goods transaction. The purpose of this study was to examine problems with online secondhand-goods transaction and to suggest some reform measures. There is something wrong with the legal status of brokers for secondhand-goods sales. According to the current law, individual brokers are neither mail-order sellers nor mail-order brokers. So they don't have lots of liabilities, and it means that the burden of risk is all imposed on buyers. Therefore it's suggested that individual brokers should be defined as 'involved operator of electronic commerce' so that proper liability might be imposed on them.

• Journal of Digital Convergence
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• v.19 no.6
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• pp.259-264
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• 2021

Recently, as the number of used trading sites supporting used trading increases, users want to search for a variety of information in real time. This new change has enabled a new type of C2C (Commerce to Commerce) transaction in the e-commerce base. However, since each used trading site has its own characteristics, it is difficult to standardize the whole. Therefore, in this paper, we studied a system that provides the transaction data used by the user in real time and provides the desired information quickly. In this paper, we researched the crawler system necessary for the development of the integrated trading system for used goods through Internet e-commerce, and made it possible to provide information in the web environment desired by the user through the defined morpheme analyzer. Therefore, in this study, we designed a system that provides information desired by users without accessing various used goods sites.

• Journal of Korea Trade
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• v.24 no.4
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• pp.49-70
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• 2020

Purpose - The UCP is recognized as the governing law for L/C transactions, but it covers only the general details of the transaction and does not cover all complex practices. In view of this limitation, this paper examines a negotiation transaction which is most actively utilized in L/C transactions via a thorough review of the UCP provisions, analyzes the problems of the negotiation clause in the UCP, and suggests appropriate countermeasures to deal with unnecessary litigation costs. By doing so, the parties involved in the negotiation transaction would be able to avoid financial costs such as having to pay for lawsuits. Design/methodology - The present study first differentiates the general types of L/Cs (e.g., sight payment L/C, deferred payment L/C, acceptance L/C, and negotiation L/C), explains and the Article 2 and Article 12(b) of the UCP 600 where the term 'negotiation' is used, digs into the drawbacks of 'negotiation' occurring under the UCP 600, and discusses solutions to the problems found by analyzing the drawbacks descriptively. Findings - After a review of the UCP provisions on negotiation in detail, several possible problems which may occur in practice were discovered. First, as the UCP stipulates, the negotiating bank will want to delay payment to the maximum extent possible and make payment on the banking day on which the issuing bank reimburses the amount. This may lead the beneficiary towards bankruptcy or put it in financial crisis. Second, when a fraudulent transaction occurs, the negotiating bank can neither request the issuing bank to reimburse nor can it exercise its recourse right against the beneficiary because it has obtained all the rights of the beneficiary by purchasing the documents. Third, there is a practice in which the beneficiary sells the documents to its transaction bank which is not the nominated bank if the nominated bank specified in the credit is located in a third country or the exporter has no relationship with the nominated bank in the credit. In this case, whether to accept this and reimburse the non-nominated negotiating bank entirely depends on the issuing bank's decision even though such practice frequently occurs in Korea. Originality/value - There has been little research effort pertaining to negotiation transactions in detail even though negotiation L/C transactions account for around 70% in world trade notwithstanding deferred payment L/Cs and acceptance L/Cs that are also negotiated in practice. Thus, if the negotiations clause under the UCP 600 provisions were reviewed and the drawbacks of the negotiation transactions most actively used in L/C transactions were identified and examined, specific countermeasures could ultimately help smoothen the operation of L/C transactions and prevent financial losses.

• International Commerce and Information Review
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• v.8 no.2
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• pp.187-210
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• 2006

China continues to experience an expansion of its e-Commerce industry. This is true both for B2C and for B2B sectors. B2C websites are created by various players. B2C E-commerce is divided into three categories in China: online direct sale, online retail, and online booking services. Online retail remains the major form of B2C business, and online booking services and online direct sale also maintained rapid growth. The rapid growth of B2C E-commerce in China was due to three factors. Firstly, the number of Internet users is increasing, which expands E-commerce user base. Secondly, users' acceptance and recognition of E-commerce are gradually increasing. Lastly, improvement on payment, logistics and credit also provides a better and better industrial environment for B2C e-commerce. The B2C sector has seen a low transaction volume in spite of its large number of websites. The B2B sectors has seen a higher transaction volume and more stable growth than the B2C sector. There is a wide range of the total market size estimated by different sources. China's C2C market witnessed rapid growth in 2005, the market growth may slow down in 2006 and 2007, due to heavy market competition, challenges to the business model and slow corporate user growth. But there is the bottlenecks in E-commerce in China. The purpose of this paper is contribute to development E-commerce in China by finding the solutions of the bottlenecks in E-commerce in China.