• Title/Summary/Keyword: Commercial Policy

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The Social and Economic Impact of the Urban Regeneration Project in Jeonju Hanok Village Area (전주 한옥마을의 도시재생사업이 지역변화에 미친 영향)

  • Kim, Ju-Young;Heo, Sun-Young;Moon, Tae-Heon
    • Journal of the Korean association of regional geographers
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    • v.23 no.1
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    • pp.106-117
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    • 2017
  • Recently, urban regeneration is being actively promoted in Korea and among those Jeonju Hanok Village is the major project which is the most consistently promoted. For this, visitors of Jeonju Hanok Village are skyrocketing. However, due to this condition, various problems are occurring, especially about commercialization. In this regard, this study is to suggest management of the Jeonju Hanok Village and new orientation in the policy, by analyzing physical, economic, and social status due to urban regeneration for Jeonju Hanok Village which has lost its identity and been commercialized. For this, the study analyzed changes in land usage and real transaction price, SNS data. Firstly, in the physical analysis, the study realized that there is commercialization going around the main streets of Jeonju Hanok Village. Due to the rapid commercialization, living spaces for locals are replaced to commercial spaces for tourists, and the emigration of locals is caused by economic/environmental damages with the degradation of housing environments. Secondly, in the economic analysis, there was no gap in real transactions among streets in 2010 but has shown a valid gap in 2016. The traffic of tourists is heavy and the real transaction prices of streets that are adjacent to major tourist sights rose the most. Rising real transaction prices are a positive phenomenon in the aspect of the city regeneration but it is concerned that they can be perceived as investment subjects. Thirdly, in the social analysis, tourists are using commercial aspects more than historical or cultural sites, and have lots of interest on those. However, because there are also lots of opinions about the commercialization of Hanok Village, we think the plans which can establish the identity of Hanok Village should be prepared. The study has its meaning on analyzing reality based on the land usage, real transaction, SNS data and suggesting political implications.

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Suggestion for Technology Development and Commercialization Strategy of CO2 Capture and Storage in Korea (한국 이산화탄소 포집 및 저장 기술개발 및 상용화 추진 전략 제안)

  • Kwon, Yi Kyun;Shinn, Young Jae
    • Economic and Environmental Geology
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    • v.51 no.4
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    • pp.381-392
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    • 2018
  • This study examines strategies and implementation plans for commercializing $CO_2$ capture and storage, which is an effective method to achieve the national goal of reducing greenhouse gas. In order to secure cost-efficient business model of $CO_2$ capture and storage, we propose four key strategies, including 1) urgent need to select a large-scale storage site and to estimate realistic storage capacity, 2) minimization of source-to-sink distance, 3) cost-effectiveness through technology innovation, and 4) policy implementation to secure public interest and to encourage private sector participation. Based on these strategies, the implementation plans must be designed for enabling $CO_2$ capture and storage to be commercialized until 2030. It is desirable to make those plans in which large-scale demonstration and subsequent commercial projects share a single storage site. In addition, the plans must be able to deliver step-wised targets and assessment processes to decide if the project will move to the next stage or not. The main target of stage 1 (2019 ~ 2021) is that the large-scale storage site will be selected and post-combustion capture technology will be upgraded and commercialized. The site selection, which is prerequisite to forward to the next stage, will be made through exploratory drilling and investigation for candidate sites. The commercial-scale applicability of the capture technology must be ensured at this stage. Stage 2 (2022 ~ 2025) aims design and construction of facility and infrastructure for successful large-scale demonstration (million tons of $CO_2$ per year), i.e., large-scale $CO_2$ capture, transportation, and storage. Based on the achievement of the demonstration project and the maturity of carbon market at the end of stage 2, it is necessary to decide whether to enter commercialization of $CO_2$ capture and storage. If the commercialization project is decided, it will be possible to capture and storage 4 million tons of $CO_2$ per year by the private sector in stage 3 (2026 ~ 2030). The existing facility, infrastructure, and capture plant will be upgraded and supplemented, which allows the commercialization project to be cost-effective.

A Study on the Locational Decision Factors of Discount Stores : The Case of Cheonan (종합슈퍼마켓의 입지 결정 요인에 관한 연구 : 천안상권을 중심으로)

  • So, Jang-Hoon;Hwang, Hee-Joong
    • Journal of Distribution Science
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    • v.10 no.5
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    • pp.37-44
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    • 2012
  • In this paper, we investigate several factors that affect the locational decision of discount stores by using previous studies on the marketing area and the location of commercial facilities. We selected 21 primary variables that are expected to influence the decision of store location and, by factor analysis, grouped them into five underlying factors. Among these, the demographic factor, which shows the potential purchasing power level, had the greatest impact on the locational decision for the store. However, we found individual stores positioned according to unique locational characteristics in addition to the demographic factor. It means that we have to additionally consider if the vicinity of the market is based on any physical properties. Many previous studies proposed four decision factors for store location: the economic factor, the demographic factor, the land utilization factor, and traffic factor. However, the fivefold factors-our distinctive contribution-are more concrete and persuasive according to Korean reality. We show that location preference is based on the following criteria: (1) the area is densely populated, (2) houses stand close together, (3) residents have a high income level, (4) road traffic is developed and easy to access, and (5) public transportation is well developed. The demographic factor has the greatest impact on the location of a discount store. The number of households has a greater relevance to the demographic factor than does the individual consumer. Second, discount stores relatively prefer places where houses are located close together because such places offer easy access to the market. Third, a place whose residents have a high income level will be preferred, with its large cars and excellent traffic conditions. Fourth, a location would be highly rated if the roads around commercial facilities are well developed and their accessibility is good. Finally, discount stores must be located close to bus stops because female consumers, including housewives-the most important customers-evaluate stores based on distance. In this research, the variable of consumer attitude and preference was excluded, and the location factors of discount stores were analyzed according to a microscopic view through physical spatial data. In the future, the opening of new discount stores based on the five factors indicated above will require a comparatively shorter time from the first project feasibility analysis. In addition, the result of our study can be applied to the field of public policy for constructing and attracting large-scale distribution facilities.

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A Study on the Determinants of Land Price in a New Town (신도시 택지개발사업지역에서 토지가격 결정요인에 관한 연구)

  • Jeong, Tae Yun
    • Korea Real Estate Review
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    • v.28 no.1
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    • pp.79-90
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    • 2018
  • The purpose of this study was to estimate the pricing factors of residential lands in new cities by estimating the pricing model of residential lands. For this purpose, hedonic equations for each quantile of the conditional distribution of land prices were estimated using quantile regression methods and the sale price date of Jangyu New Town in Gimhae. In this study, a quantile regression method that models the relation between a set of explanatory variables and each quantile of land price was adopted. As a result, the differences in the effects of the characteristics by price quantile were confirmed. The number of years that elapsed after the completion of land construction is the quadratic effect in the model because its impact may give rise to a non-linear price pattern. Age appears to decrease the price until certain years after the construction, and increases the price afterward. In the estimation of the quantile regression, land age appears to have a statistically significant impact on land price at the traditional level, and the turning point appears to be shorter for the low quantiles than for the higher quantiles. The positive effects of the use of land for commercial and residential purposes were found to be the biggest. Land demand is preferred if there are more than two roads on the ground. In this case, the amount of sunshine will improve. It appears that the shape of a square wave is preferred to a free-looking land. This is because the square land is favorable for development. The variables of the land used for commercial and residential purposes have a greater impact on low-priced residential lands. This is because such lands tend to be mostly used for rental housing and have different characteristics from residential houses. Residential land prices have different characteristics depending on the price level, and it is necessary to consider this in the evaluation of the collateral value and the drafting of real estate policy.

The Hague Convention on Jurisdiction and Enforcement, of Judgments

  • Park, Yu-Sun
    • Journal of Arbitration Studies
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    • v.16 no.1
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    • pp.343-373
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    • 2006
  • 지적재산권의 속지주의 원칙에 따라 전통적으로 지적재산권의 침해에 있어서 결과의 발생이 없는 행위지를 침해지로 인정하지 않았다. 어문과 예술작품을 보호하기 위해 1886년 체결된 베른협약(Berne Convention for the Protection of Literary and Artistic Works) 제5조 제1항은 저작자가 베른협약에 따라 보호되는 저작물에 관하여 본국 이외의 동맹국에서 각 법률이 현재 또는 장래에 자국민에게 부여하는 권리 및 이 협약이 특별히 부여하는 권리를 향유한다고 규정하여 내국민대우원칙을 천명하고 있다. 또한 베른협약 제5조 제2항은 저작권의 보호와 향유는 저작물의 본국에서 보호가 존재하는 여부와 관계가 없이, 보호의 범위와 저작자의 권리를 보호하기 위하여 주어지는 구제의 방법은 오로지 보호가 주장되는 국가의 법률의 지배를 받는다라고 규정하여 저작권 침해가 발행한 국가의 법률의 적용을 명시하고 있다. 인터넷과 무선통신 기술의 발달은 저작물을 디지탈 형식으로 실시간에 전세계에 배포하는 것을 가능하게 하였다. 특히 저작물의 인터넷상에서의 배포는 다국적 저작권 침해행위를 야기하여, 저작권자가 다수의 국가에서 저작권 침해소송을 제기하여 판결을 집행하는 것이 필요하게 되었다. 헤이그국제사법회의(Hague Conference on Private International Law)에서 1992년부터 논의되어 온 민사 및 상사사건의 국제재판관할과 외국판결에 관한 협약(Convention on Jurisdiction and Foreign Judgment in Civil and Commercial Matters)에서 채택된1999년의 예비초안(preliminary draft) 및 2001년 외교회의에서 수정된 잠정초안(Interim text) (이하 헤이그 협약 )은 저작권자가 저작권침해행위가 발생한 각 국가에서 저작권 침해행위를 금지하는 소송을 제기할 필요없이, 동 협약의 한 가맹국가의 법원의 저작권침해금지판결을 다른 가맹국가에서도 집행할 수 있는 가능성을 제시해 주는데 의미가 있다. 헤이그 협약 제10조는 불법행위(torts)에 관한 일반적인 재판관할에 관한 규정을 두고 있으며, 저작권침해에 관한 분쟁은 동 조항의 적용을 받는다. 제10조에 의해 당사자는 가해행위지 국가의 법원 또는 결과발생지 국가의 법원에서 소송을 제기할 수 있다. 결과발생지의 경우 제10조 1항 (b)는 피고가 자신의 행위가 본국의 법규에 비추어 동일한 성격의 손해를 초래할 수 있다라고 합리적으로 예견할 수 없었던 경우에 본 조항의 적용을 배제하고 있다. 인터넷을 통한 저작권침해의 경우, 피고가 자신의 국가의 법규하에서 합법적으로 저작물을 웹사이트에 게시하였으나, 그 행위가 다운로딩이 행해진 국가에서 불법인 경우, 피고는 저작권침해를 예견할 수 없었으므로 이에 문제가 제기된다. iCrave TV사건에서, 피고인 캐나다회사가 미국 및 캐나다에서 방송되는 텔레비젼 방송 프로그램을 자신의 웹사이트에 게시하여 이용자들로 하여금 컴퓨터를 통하여 방송을 재시청 할 수 있도록 하였는데 이는 캐나다에서 합법인 반면에 미국에서는 저작권 침해에 해당한다. 피고는 방송 프로그램을 인터넷상에서 재방송하는 것은 캐나다법상 합법이므로 저작권침해를 예견할 수 없었다고 주장하면서, 해당 사이트에 오직 캐나다 거주자만의 접속을 허용하고 미국 거주자의 접속을 제한하는 일련의 Click-Wrap 계약과 스크린 장치를 제공하였다고 주장하였다. 본 사건 피고의 주장을 받아들인다고 가정할 때, 제10조 1항(b)에 의해 원고는 결과발생지인 미국법원의 재판관할을 강제할 수 없을 것이다. 지적재산권을 둘러싼 분쟁에 관한 재판관할과 국제법상의 판결의 승인 및 집행의 통일성을 기하기 위하여 2001년 1월 세계지적재산권기구(World Intellectual Property Organization)가 제안한 WIPO 협약초안(Draft Convention on Jurisdiction and Recognition of Judgments in Intellectual Property Matters)은 헤이그 협약이 재판관할과 판결의 승인 및 집행에 대한 일반적인 접근을 하고 있는 점에 반하여 지적재산권자의 보호라는 측면을 고려하여 지적재산권침해소송에 국제재판관할권을 규정하고 있다. WIPO 협약초안 제6조는 저작권자가 저작권 침해를 막기 위한 합리적인 조치를 취한 국가에서 저작권 침해소송을 피할 수 있다고 규정하고 있다. 따라서 본 조항에 의할 경우, iCrave TV사건의 피고는 미국에서의 저작권 침해소송을 회피할 수 있을 것이다. 이상과 같이 헤이그 협약이 외국판결의 승인 및 집행을 가능하게 하고 있음에도 불구하고, 외국법원의 판결이 다수의 가맹국가에서 집행되지 못하는 가장 큰 장애는 대다수의 국가들이 외국법원의 판결이 공서양속(Public Policy)에 반하는 경우 판결을 승인하지 않는 예외규정을 두고 있기 때문이다. 미국의 경우, Uniform Recognition Act와 Restatement(Third) of Foreign Relations에 따른 공서양속의 예외규정(Public Policy exception)은 외국법원의 판결의 승인을 부인하는 근거가 된다. Yahoo! 사건에서 Yahoo! Inc.의 옥션 사이트를 통해 독일 나치 소장물의 판매가 이루어졌는데, 프랑스 형법상 이는 범죄행위에 해당하므로, 프랑스 법원은Yahoo! Inc.에게 프랑스 이용자가 당해 옥션 사이트에 접속할 수 없도록 모든 가능한 조치를 취할 것을 명하였다. 이에 미국 법원은 프랑스 법원의 판결은 Yahoo! Inc.의 미국헌법 제1 수정(First Amendment)의 언론의 자유(freedom of speech)에 반하므로 판결의 집행을 거부하였는데 이는 공서양속의 예외규정을 보여주는 예이다. 헤이그 협약 제28조와 WIPO 협약초안 제25조 또한 공서양속의 예외규정을 두고 있다. 본 논문은 인터넷과 통신기술의 발달로 야기되는 다국적 저작권 침해사건에서 한 국가의 법원의 저작권 침해금지판결이 다수의 국가에서 승인 및 집행될 수 있는 능성을 헤이그 협약과 WIPO 협약초안 및 미국판결을 중심으로 살펴보았다. 국제적으로 통일된 저작권법이 존재하지 않고 외국 판결의 승인을 부인하는 예외조항과 외국판결의 집행에 관한 각국의 이해관계와 준거법의 해석이 다른 현시점에서 지적재산권의 속지주의를 뛰어넘어 외국법원의 판결을 국제적으로 집행하는 것은 다소 어려움이 있어 보이나 국제적인 집행가능성의 열쇠를 제시하는 헤이그 협약과 장래의 국제조약에 그 기대를 걸어볼 수 있겠다.

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The Significance of Registration Convention and its Future Challenges in Space Law (등록협약의 우주법상 의의와 미래과제에 관한 연구)

  • Kim, Han-Taek
    • The Korean Journal of Air & Space Law and Policy
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    • v.35 no.2
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    • pp.375-402
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    • 2020
  • The adoption and entering into force of the Registration Convention was another achievement in expanding and strengthening the corpus iuris spatialis. It was the fourth treaty negotiated by the member states of the UNCOPUOS and it elaborates further Articles 5 and 8 of the Outer Space Treaty(OST). The Registration Convention also complements and strengthens the Article 11 of the OST, which stipulates an obligation of state parties to inform the UN Secretary-General of the nature, conduct, locations, and results of their space activities in order to promote international cooperation. The prevailing purposes of the Registration Convention is the clarification of "jurisdiction and control" as a comprehensive concept mentioned in Article 5 8 of the OST. In addition to its overriding objective, the Registration Convention also contributes to the promotion and the exploration and use of outer space for peaceful purposes. Establishing and maintaining a public register reduces the possibility of the existence of unidentified space objects and thereby lowers the risk such as, for example, putting the weapons of mass destruction secretly into orbit. And furthermore it could serve for a better space traffic management. The Registration Convention is a treaty established to implement Article 5 of OST for the rescue and return of astronaut in more detail. In this respect, if OST is a general law, the Registration Convention would be said to be in a special law. If two laws conflict the principle of lex specialis will be applied. Countries that have not joined the Registration Convention will have to follow the rules concerning the registration of paragraph 7 of the Declaration by the United Nations General Assembly resolution 1721 (X V I) in 1961. UN Resolution 1721 (XVI) is essentially non-binding, but appears to have evolved into the norm of customary international law requiring all States launching space objects into orbit or beyond to promptly provide information about their launchings for registration to the United Nations. However, the nature and scope of the information to be supplied is left to the discretion of the notifying State. The Registration Convention is a treaty created for compulsory registration of space objects by nations, but in reality it is a treaty that does not deviate from existing practice because it is based on voluntary registration. With the situation of dealing with new problems due to the commercialization and privatization of the space market, issues related to the definition of a 'space object', including matter of the registry state of new state that purchased space objects and space debris matter caused by the suspension of space objects launched by the registry state should be considered as matters when amendments, additional protocols or new Registration Convention are established. Also the question of registration of a flight vehicle in the commercial space market using a space vehicle traveling in a sub-orbital in a short time should be considered.

Research Trends and Future Directions for R&D Vitalization of Domestic Dairy Industry (국내 유가공산업의 R&D활성화를 위한 연구 동향과 방향)

  • Yoon, Sung-Sik
    • Journal of Dairy Science and Biotechnology
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    • v.29 no.1
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    • pp.23-31
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    • 2011
  • Domestic dairy industry is now standing at the crossroad for planning next fifty years, mainly because economic and environmental situations surrounding Korean peninsula are fast changing. For the aspects of dairy consumption, fresh milk consumed less, while consumption of the other milk and dairy products is slightly increasing every year. In 2010, it is approximately estimated that 1,939,000 tons of raw milk was used and the supply would be short by about 35,000 tons, based on the amounts in the previous year. Currently, multilateral negotiations against US and EU are underway. When it will be in effect in the future, significant damage would be expected in the dairy and livestock sectors, leading to cut domestic milk supply. Quality of farm-gate milk is graded as 1A on average 90% or more, loaded with very low in microbial and somatic cell counts. Therefore, policy implications have to be placed toward switch currently the UHT processing method to Pasteurization or the LTLT technology, by which natural flavors and nutrients in milk mostly remain after heat treatment. Domestic cheese products comprise only 10% and the rest is occupied by the various kinds of imported natural products. The market size keeps increasing up to 65,423,000 tons last year. When it comes to vitalization of our natural cheese industry, cheese whey, which is a main by-product in cheese manufacture, is a critical issue to be solved and also "On-Farm Processing" would be combined with a growth of big dairy companies when few immediate issues among the relevant regulations will be eased and alleviated in the near future. Fermented milk market is recorded as a single area of gradual increase in the past 10 years, Korea. Fermented yogurts with health claims targeted stomach, liver, and intestine are popular and has grown fast in sales amounts. In this context, researches on beneficial probiotic lactic acid bacteria are one of the important projects for domestic milk and dairy industries. Labelling regulations on efficacy or health-promoting effects of functional dairy products, which is the most important issue facing domestic dairy processors, should be urgently examined toward commercial expression of the functionality by lawful means. Colostrum, a nutrition-rich yellowish fluid, is roaded with immune, growth and tissue repair factors. Bovine colostrum, a raw material for immune milk preparations and infant formula, can be used to treat or prevent infections of the gastrointestinal tract. Nanotechnology can be applied to develop new milk and dairy products such as micro-encapsulated lactase milk for consumers suffering lactose intolerance. Raw milk is suggested to be managed by its usage in the processing line because imbalance of supply and demand is structural problem in every country and thus the usage systems as in the advanced dairy countries is worth of bench-marking to stabilize milk supply and demand. Raw milk produced is desirable to divide into the three parts; domestic, import, and buffering purposes. It is strongly recommended that a domestic dairy control center as an institutional framework should be urgently established as is Dairy Board in New Zealand and Australia. Lastly, government policy should be directed to foster the highly-educated people who are majoring in Dairy Sciences or working in the dairy industry by means of financial support in studying and training abroad as well.

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A Study on the Construction the Application of Warsaw Convention Article 29 - From the U.S. Cases (바르샤바조약 제29조의 해석 및 적용에 관한 연구 - 미국판례를 중심으로)

  • Kim, Sun-Ei;Lee, Chang-Jae
    • The Korean Journal of Air & Space Law and Policy
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    • v.20 no.2
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    • pp.9-58
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    • 2005
  • The Warsaw Convention-officially denominated the "Convention for the Unification of Certain Rules Relating to International Transportation by Air"- is a major multilateral agreement governing the rights and responsibilities of passengers, consignor/consignee and air carriers in international transportation. Article 29(1) of the Warsaw Convention provides that the right to damages shall be extinguished if an action is not brought within 2 years, reckoned from the date of arrival at the destination, from the date on which the aircraft ought to have arrived, or from the date on which the transportation stopped. There has been disagreement as to the nature of this provision. It has been viewed on one hand as a statute of limitations, which may be tolled in appropriate circumstances. Some US Courts which have taken this approach read Article 29(2)-which states that the method of calculating the period of limitation shall be determined by the law of the court to which the case is submitted-as leaving to local law the determination of when the 2-year limitation period provided for in Article 29(1) runs. Therefore, they conclude, under Article 29(2), whenever state law would toll a state statute of limitations, the statute of limitations contained in Article 29(1) would be tolled as well. On the other hand, some other US courts have viewed the 2-year provision contained in Article 29(1) as a condition precedent to the right to bring suit, which will absolutely bar any action not brought within 2 years of the events giving rise to the action. These courts view Article 29(2) as providing only that the forum court should look to the law of the forum on the question whether the plaintiff has taken the necessary measures within the 2-year period to invoke that particular court's jurisdiction over the action. These courts have placed great weight on the "legislative" history of the Convention in reaching this position, noting in particular that the delegates to the Convention expressly considered and rejected a provision, which would have incorporated local tolling provisions.

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The Non-Appropriation Principle and Corpus Juris Spatialis (비전유원칙과 우주법(Corpus Juris Spatialis))

  • Kim, Han-Taek
    • The Korean Journal of Air & Space Law and Policy
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    • v.35 no.1
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    • pp.181-202
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    • 2020
  • The Non-Appropriation Principle was stipulated in the OST and the MA. However the MA, creating CHM in international law for the first time, attempted to further limit the prohibitions to include ownership of resources extracted from celestial bodies, its rejection by the U.S. and most of the international spacefaring community prevented it from serving as a binding international treaty. Individuals or private enterprises intending to perform space exploitation must receive approval from the nation and may not appropriate outer space or celestial bodies. In the course of this space activity, each party will be liable. Articles 6 and 7 of the OST and the Liability Convention of 1972 deal with matters concerning those problems. The CSLCA of 2015 and Luxembourg Space Resources Law of 2017 allows States to provide commercial exploration and use of space resources to their own nationals and to companies operated by other countries within their territory. These laws do not violate Article 2 of the OST. In the case of the CSLCA of 2015, the law clearly states that it cannot claim ownership, sovereignty or jurisdiction over certain celestial bodies. Even if scholars claim that the U.S. CSLCA and Luxembourg Space Resources Law violate the non-appropriation principle of the OST, they cannot prevent these two countries from extracting the space resources on "the first come, first served" basis. The legal status of outer space including the moon and other celestial bodies is res extra commercium, like the high seas, where the fishing vessels from each country catch and sell fish without occupying the sea. Major space-faring nations must push for the adoption of an international regulatory committee which will oversee applications and issue permits based on a set of robust, modern, and forward-thinking ideals that are best equipped to govern and protect outer space as individuals, businesses, and nations compete to commercialize space through mining and the extraction of space-based resources. The new Corpus Juris Spatialis on the development of space resources, whether it is a treaty or a soft law such as recommendation and declaration, in the case of the Moon and Mars, will cover a certain amount of area to develop, and the development period by the states should be specified.

The Character and Negotiability of Air Waybill (항공화물운송상(航空貨物運送狀)의 성질(性質)과 유통성(流通性))

  • Lee, Kang-Bin
    • The Korean Journal of Air & Space Law and Policy
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    • v.4
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    • pp.65-85
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    • 1992
  • The air waybill is supposed to be made out by the consignor. If the carrier makes it out, he is deemed, subject to proof to the contrary, to have done so on behalf of the consignor. The air waybill shall be made out in three original parts. The first part shall be marked "for the carrier", and shall be signed by the consignor. The second part shall be marked "for the consignee", it shall be signed by the consignor and by the carrier and shall accompany the goods. The third part shall be signed by the carrier and handed by him to the consignor, after the goods have been accepted. According to the original Warsow Convention article 8, the air waybill must contain 17 particulars or items. However, the Hague Protocol reduced to three the number of particulars required to appear on the air waybill. Only one item is obligatory, namely, the notice that the carriage is subject to the rules of the Warsaw Convention. The absence of the air waybill entails unlimited liability of the carrier because it deprives him of the right to avail himself of the provisions of the Warsaw Convention which exclude or limit his liability. The consignor shall be liable for all damages suffered by the carrier or any other person by reason of the irregularity, incorrectness or incompleteness of the particulars and statements in the air waybill. Although the contract of the carriage of goods by air is not a formal contract, the document of carriage is issued. The issue of air wayhill is not essential for the existence or validity of the contract, but serves merely as a means of proof. The Hague Protocol has lessened the consequences of the carrier's neglect to faithfully accomplish the required formalities. Henceforth, these formalities no longer constitute legal obligations. The air waybill is the consignment note used for the carriage of goods by air. It is often called an air consignment note and is not a document of title or transferable/negotiable instrument. It is basically a receipt for the goods for despatch and is prima facie evidence of the conditions of carriage. Each of the original parts of the air waybill has evidential value and possession of his part is a condition for the exercise by the consignor or cosignee of his rights under the contract of carriage. Oveall, it is an usage that under a documentary letter of credit, the consignee on the air waybill is the opening bank of the letter of credit, and the notify party is the importer who applied for the letter of credit. In Korea there is an usage as to process of cargo delivery in air transportation as follows: The carrier carries the cargo into the bonded area of the airport and gives both the notice of arrival of the cargo and the consignee's air waybill to the notify party who is the importer. Then the notify party obtains the Letter of Guarantee from the opening bank in exchange for reimbursing the amount of the letter of credit or tendering the security therefor to the opening bank. The notify party then presents this document to the customs authorities for the process of customs clearance. The opening bank becomes a consignee only to ensure repayment of the funds it has expended, and the only interest of the opening bank as consignee is the reimbursement of the money paid to the exporter under the documentary letter of credit. Just as the bill of lading in maritime law, the air waybill has always been considered negotiable although the Warsaw Convention does not emphasize this aspect of negotiability. However, the Hague Protocol article 4 corrected the situation by stating that "nothing in this Convention prevents the issue of a negotiable air waybill." This provision officially recognizes that the air waybill must meet the needs of the present day business circles by being a negotiable instrument. Meanwhile, Montreal Additional Protocol no. 4 has brought important changes. Registration by computer is acceptable and the parties to the contract of carriage are allowed to replace the air waybill with a receipt for the goods. In conclusion, as the Warsaw Convention has not details of provisions relating to the issuing of the negotiable air waybill, it is hoped that there should be supplement to the Warsaw Convention and establishment of international commercial usage with regard to the negotiable air waybill.

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