• Korea Trade Review
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• v.45 no.5
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• pp.117-139
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• 2020

In case of international long-term transactions, there are various risks of economic change of circumstances including skyrocketing price increase and shortage of raw material, as well as force majeure in a general sense. Nevertheless, pretty many of international long-term commercial contracts do not include the provisions of renegotiation and adaptation of the contract. In this case, possibility of renegotiation and adaptation depends mainly on the applicable law. Namely, it may be possible or not, according to choice of law. The reason is that national laws have nuances each other, and most of national courts are traditionally reluctant to accept hardship. and also, provisions of international uniform law (CISG) has ambiguity and inflexibility in relation to the problems of change of circumstances. Accordingly, this paper analyzes comparatively the doctrines and provisions related to renegotiation and adaptation of contracts of the most representative countries such as England, U.S.A., France, Germany as well as provisions CISG and soft law such as PICC. By doing so, the author makes clear which laws of instruments is more flexible or acceptable in allowing renegotiation and adaptation of long-term commercial contracts, and emphasizes on the importance of inclusion of express terms by using other alternative supplementing clauses, as a best solution for settling the problems of legal uncertainty of contract in relation to renegotiation and adaptation.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.22
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• pp.71-106
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• 2004

Todays, L/C transactions in international trade are governed by UCP 500 and eUCP. But UCP 500 and eUCP do not cover all legal problem of L/C transactions. Therefore choice of laws in international L/C transactions are occurred. U.S.A. has an enacted law (UCC ${\S}5-Letter$ of Credit) to govern L/C transaction. But other countries has no special enacted law to govern L/C transaction. The reason is that there are difference between legal attitude of U.S.A. and other countries. American law considers L/C as a special device made by merchants. Therefore U.S.A. applies UCC ${\S}5-Letter$ of Credit instead of general contract law. UCC ${\S}5-Letter$ of Credit includes provisions of warranties, remedies, and so on that UCP 500 and eUCP do not include. But the liabilities of the Issuing Bank on the wrongful dishonor in L/C transaction is very important legal problem. First, this study is to justify concepts of honor and dishonor, and sufficient conditions for dishonor of the issuing bank. in UCC. Second, this study is to examine closely the liabilities of the Issuing Bank on the wrongful dishonor in L/C transaction. Third, this study is suggest distinctive features on the Liabilities to wrongful dishonor of the issuing bank in UCC ${\S}5-Letter$ of Credit and our trader's matters to be attended to L/C transactions governed by UCC.

• The Korean Journal of Air & Space Law and Policy
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• v.23 no.1
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• pp.169-188
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• 2008

Analyzing on an object in the sphere of domestic law with the method of international law has been already on the horizon in international law. For the lawyers of international law and space law, it is quite natural that they utilize the method of international law, whatever objects they may choice. The reason is that the characteristic of international law do not depend upon object in itself, but depend upon method in itself. The object of this paper is the idea of Peaceful Use(IPU or PU) in Japanese Space Policy. The method to be applied to this analysis is the international law's interpretation theory on legal principles, i.e., the method of international law. One of the aims of this paper is to explain critically the need of review on IPU in Japanese Space Policy; in particular with respect to the positive reconstruction of IPU through historical analyzing on the transfiguration and the mere shell of the Post-War Japanese Pacifism(PJP) as the starting point of IPU. The historical process of the transfiguration and the mere shell is as followed, i.e., "from the ultra-nationalism in the pre-war Japan to PJP in the post-war Japan, from PJP to IPU, and from IPU to IPU's regression. In particular with respect to the interpretation theory, the meaning of the teleological, aims and objects school's approach on the interpretation of legal principles(P) has been emphasized. The reason is that the promising development of IPU will be realized by cooperating with the interpretation theory on P in international law. At the end of the beginning, I'd like to quote K. Marx's thesis in order to make the positions and missions the lawyers of international law and space clear. It is as follows, i.e., "THE PHILOSOPHERS HAVE ONLY INTERPRETED THE WORLD IN VARIOUS WAYS - THE POINT, HOWEVER IS TO CHANGE IT.

• The Journal of the Convergence on Culture Technology
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• v.10 no.3
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• pp.53-59
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• 2024

The novel "The Grapes of Wrath" shows the painful reality of Americans during the Great Depression through the migration journey of the Tom Jod's family, who had no choice but to move from Oklahoma to California and their hardships in California. This presents empathy for their wrath and offers hope for a brotherly solution. This article presents institutional solutions against each novel situation from the perspective of the Constitution, labor law, and competition law. From a constitutional perspective, the poverty of Oklahoma's smallholders is not a result of choice, but is caused by the natural environment and capital concentration, so it is suggested that the government have to intervene to guarantee a minimum standard of living to realize equal rights. From a labor law perspective, worker supply projects are unconstitutional because they constitute intermediate exploitation of labor, and immigrants like the Joad family have the right to form labor unions. From a competition law perspective, it was shown that the large landowners' setting of fruit prices constitutes predatory pricing, and the farmers' attempts to pay similarly low wages constitute collusion. Through this, the attempt was made to recognize that the law is a means to resolve the public wrath that may currently exist, and to show that the story in the novel can bring empathy and understanding to minorities. It is hoped that reading novels can be a way to help interpret the law and sympathize with others as an indicator of a just society.

• 한국항공우주법학회:학술대회논문집
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• 2008.05a
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• pp.219-231
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• 2008

" Analyzing on an object in the sphere of domestic law with the method of international law" has been already on the horizon in international law. For the lawyers of international law and space law, it is quite natural that they utilize the method of international law, whatever objects they may choice. The reason is that the characteristic of international law do not depend upon object in itself, but depend upon method in itself. The object of this paper is the idea of Peaceful Use(IPU or PU) in Japanese Space Policy. The method to be applied to this analysis is the international law's interpretation theory on legal principles, i.e., the method of international law. One of the aims of this paper is to explain critically the need of review on IPU in Japanese Space Policy; in particular with respect to the positive reconstruction of IPU through historical analyzing on the transfiguration and the mere shell of the Post-War Japanese Pacifism(PJP) as the starting point of IPU The historical process of the transfiguration and the mere shell is as followed .i.e.," from the ultranationalism in the pre-war Japan to PJP in the post-war Japan, from PJP to IPU, and from IPU to IPU's regression. In particular with respect to the interpretation theory, the meaning of the teleological, aims and objects school's approach on the interpretation of legal principles(P) has been emphasized. The reason is that the promising development of IPU will be realized by cooperating with the interpretation theory on P in international law. At the end of the beginning, I'd like to quote K. Marx's thesis in order to make the positions and missions the lawyers of international law and space clear. It is as follows, i.e.," THE PHILOSOPHERS HAVE ONLY INTERPRETED THE WORLD IN VARIOUS WAYS - THE POINT, HOWEVER IS TO CHANGE IT.

• Journal of Legislation Research
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• no.44
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• pp.801-828
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• 2013

This essay provides a legislative perspective on conflict-of-laws issues in the area of antitrust law. A consistent focus on the affected market question of applicable law is possible and yields content and acceptable results. The law applicable to damages claims should follow the law applicable to the antitrust relation itself. It is problematic, however, where more than one market is affected. In my view, the European perspective provides one general lesson for us. We are not yet prepared to accept american-style of class action in the field of antitrust law, at least until the european have made their legislative decision. Nevertheless we should make our antitrust system more effective, so that it would have strong deterrence to anti-competitive conducts. In this paper I present a proposal for adoption of a international conflict of law instrument, possibly a regulation, on damages actions for breach of art. 32 Korean Anti-trust Law.

• Journal of Korea Trade
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• v.26 no.7
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• pp.93-108
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• 2022

Purpose - This paper examines the admissibility of restitution as the legal consequence where a contract is frustrated under the Law of Reform (Frustrated Contracts) Act 1943 in comparison with Korean Civil Code (KCC). In order to provide practical guidelines and advice regarding choice of and application of law for contracting parties in international trade, the paper comparatively evaluates requirements and the scope of restitution under the Act 1943 and KCC. Design/methodology - This paper executes a comparative study to analyze whether the parties may claim restitution of money paid or non-money benefit obtained before or after the time of discharge under English law and KCC. To achieve the purpose, it focuses on the identifying characteristics of each statute, thereby providing guidelines to overcome difficulties in legal application and interpretation as to restitution as the consequence of frustration. Findings - Under English law, the benefit may be restituted according to Art 1943 or the common law rule, mistake of fact or law. Under the KCC, restitution is considered based on the principle of the obligation to recover the original obtained regardless of the time when the benefit is conferred. Whilst Act 1943 does not require careful analysis of the grounds of restitution, requirements to justify restitution according to the principle of unjust enrichment, mistake of fact or law, and the KCC should be met. Meanwhile, the KCC may provide more opportunities to award restitution because it does not require the burden of proof related to the defendant's good faith, unlike the principle of unjust enrichment. Originality/value - Where the contract is frustrated by the effect of COVID-19, one legal issue is a consequence of frustration. Therefore, this paper analyzes requirements and the scope of restitution under English law as compared with the KCC in a timely manner. It provides contracting parties with practical guidelines and advice to reduce unpredictability when they choose the governing law in a contract.

• Journal of Arbitration Studies
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• v.15 no.2
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• pp.197-224
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• 2005

The purpose of this paper is to make research on the party's autonomy principle and the applicable law to the arbitration agreement, the applicable law to the validity of the arbitration agreement, the applicable law to the arbitrability of the arbitration agreement, the applicable law to the contracting ability of the arbitration agreement, and the applicable law to the method of the arbitration agreement. If no choice of law is made by the parties with respect to the arbitration agreement-which is the stand situation-the validity of the agreement may have to decided under its proper law, or under the law of the place of arbitration, or the law of the place of enforcement. If the subject matter is not arbitrable, the arbitration agreement remains without effect. The rules determining arbitrability may differ from one country to another, from one legal system to another. If a party is lacking capacity to enter into an arbitration agreement, the recognition and enforcement of the arbitral award may be refused at the request of the party against whom it is invoked. This principle is laid down in the New Yark Convention on the Recognition and Enforcement of Foreign Arbitral Awards. The validity of an arbitration agreement sometimes also depends on the form in which it is made. Article II. 2 of the New York Convention states that the term 'agreement in writing' shall include an arbitral clause in a contract or an arbitration agreement, signed by the parties of contained in exchange of letters or telegrams.

• Journal of Arbitration Studies
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• v.32 no.2
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• pp.3-30
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• 2022

On 27 October the Supreme Court of UK handed down its much anticipated decision in Kabab-Ji SAL (Lebanon) v Kout Food Group (Kuwait) [2021] UKSC 48. The issues for the Supreme Court to decide were as follows: (1) which law governed the validity of the arbitration agreement; (2) if English law applied, whether, as a matter of English law, there was any real prospect that a court might find that KFG became a party to the arbitration agreement, and (3) whether, procedurally, the Court of Appeal was correct in giving summary judgment refusing recognition and enforcement the award, or whether there should have been a full rehearing of whether there was a valid and binding arbitration agreement for the purposes of the New York Convention and the AA 1996 (the 'procedural' issue) The decision in Kabab-Ji provides further reassuring clarity on how the governing law of the arbitration agreement is to be determined under English law where the governing law is not expressly stated in the arbitration agreement itself. The Supreme Court's reasoning is consistent with its earlier decision on the same issue, albeit in the context of enforcement pursuant to the New York Convention, rather than considering the arbitration agreement before an award is rendered. This paper presents some implications of Kabab-Ji case. Also, it seeks to provide a meaningful discussion and theories on the arbitration system in Korea.

• International Commerce and Information Review
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• v.14 no.3
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• pp.453-479
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• 2012

The increase in international trade is clearly reflected by litigation and arbitration. Despite the importance of international commercial transaction, until very recently little was known about how the law interacts with actual practice. The CISG obviously plays an important role, but we are concerned with using choice of law to resolve issue that the CISG leaves unresolved. The case law UPICC is now accessible by means of UNILEX, the database on international case law that focus on CISG cases. The courts and arbitration tribunals throughout the world are developing a growing body of international case law on issues not resolved by the CISG, though arising from transactions to which the CISG applies. The application of the CISG is obligatory due to its nature as hard law an international convention. However, UPICC are only restatements and more flexibility, comprehensive instrument than CISG. This article offers to promote the UPICC application from their present status as a mere soft law instrument through analysing UNILEX cases.