• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.39
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• pp.59-85
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• 2008

An independent bank guarantee(aka an independent guarantee) is provided as an security on a principal obligor's performance of his obligation, and a guarantor should pay the guaranteed amount only upon a beneficiary's written demand. A standby letter of credit has been used in the United States, since it was construed that a bank should not issue a guarantee. There was wide misunderstanding that a standby letter of credit differs from an independent bank guarantee. However, a standby letter of credit is the same security as an independent bank guarantee, and in international business a standby letter of credit is not differentiated from a independent bank guarantee. An independent bank guarantee are independent from the underlying contract, unconditional, and irrevocable. And a guarantor should pay upon written demand without proving a principal obligor breaches the underlying contract. These features of an independent bank guarantee has been abused in international transactions. Thus it has been proposed that some exceptions to the features of an independent bank guarantee should be allowed. United Nations Convention on Independent Guarantees and Standby Letter of Credit(1995) stipulates some exceptions to payment obligation. Export bond insurance, a part of export insurances, operated by the Korea Export Insurance Corporation under the Export Insurance Act, is used as a security for unfair calling by a beneficiary under an independent bank guarantee. Most of the export subsides by the government are prohibited under WTO's Agreement on Subsidies and Countervailing Measures. However, as export insurance is allowed under the WTO, it operates a significant role in enhancing the export. In the event that export bond insurance is provided for a guarantor, an obligor who is subject to recourse by a guarantor, can be exempt from the recourse in case of unfair calling. The Korea Export Insurance Corporation, an insurer, bears unfair calling risk by a beneficiary. Generally it is understood that a demand shall be made before the expiry of an independent bank guarantee. However this is not absolutely true, it shall be decided by URDG, ISP98, the governing law.

• Journal of the East Asian Society of Dietary Life
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• v.20 no.4
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• pp.606-618
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• 2010

The study investigated how 'word of mouth' originates in the chain restaurant industry. It has long been acknowledged that 'word of mouth' is a critical factor for the success of a restaurant business due to its targetability and cost effectiveness. A review of the literature revealed four antecedents of 'word of mouth': service quality, perceived value, satisfaction, and relationship quality. Based on the theoretical/empirical relationships between those constructs, a structural model composed of the hypotheses was proposed. The structural model was tested with data collected from 471 chain restaurant patrons. The structural equation modeling analysis revealed that five constructs in the proposed model are interrelated, and during this process, word of mouth is formed in the chain restaurant industry. A positive relationship between service quality and satisfaction (0.265, p<0.05), service quality and perceived value (0.831, p<0.05), service quality and relationship quality (0.465, p< 0.05), and service quality and WOM (0.263, p< 0.05) were found, indicating that service quality is a key prerequisite for word of mouth and other constructs proposed in the model. It was revealed that perceived value doe not have a direct impact on WOM formation (t=1.275, p=0.202), but a positive relationship between perceived value and satisfaction (0.293, p<0.05) and between satisfaction and WOM (0.627, p< 0.05) were found. Therefore, it was concluded that patrons' perceived value influences word of mouth formation, but that impact is mediated by satisfaction. During this process, relationship quality also plays a mediating role in generating word of mouth. Based on data analysis, theoretical/managerial implications are discussed.

• The Journal of the Institute of Internet, Broadcasting and Communication
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• v.15 no.1
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• pp.25-28
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• 2015

Lifts are used as an essential means of transportation within the building in an emergency situation, when used as a means of escape, so expect a lot of research has been conducted high effect. Number of stories in the Seoul-rise building guidelines underground 7th floor, 53 ground floor, floor area $6,800m^2$, floor area $127,050m^2$, use is cultural and convention facilities and sales facilities, business facilities and accommodation (hotel), the construction of public housing (apartments) hagieneun not efficient to install elevators for evacuation mothada was determined separately in designing the lift is designed according to the standards of passenger lifts installed under a judgment as to use for evacuation. However, this does not include detailed design guidelines so far.[1] We propose the Evacuee Guidance of Elevator System that can be used as entering air equipment, sprinkler and smart phone evacuation system.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.71
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• pp.1-36
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• 2016

Unlike continental European legal systems (civil law systems), specific performance in common law refers to an equitable remedy requiring exactly the performance that was specified in a contract. It usually granted only when money damages would be an inadequate remedy and the subject matter of the contract is unique. Thus, under common law specific performance was not a remedy, with the rights of a litigant being limited to the collection of damages. Consistent with the practice in civil law jurisdictions, United Nations Convention on Contracts for the International Sale of Goods (CISG) makes specific performance the normal remedy for breach of a contract for the sale of goods. Therefore, the buyer may require a breaching seller to deliver substitute goods or to make any reasonable repair. Likewise, the sellermay require the buyer to taker delivery of goods and pay for them. Despite this, Article 28 of the CISG restricts the availability of specific performance where it would be unavailable under the domestic law of the jurisdiction in which the court is located. Thus, the CISG's more liberal policy toward specific performance is restricted by common law. There are some legal issues in CISG's specific performance availability by Article 28. This paper analyzes these issues as interpreting Article 28 of CISG, by examining various theories of application to actions for specific performance and comparing CLOUT cases involving CISG Article 28.

• Journal of Arbitration Studies
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• v.16 no.2
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• pp.89-120
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• 2006

If the existence and effect of the arbitration agreement becomes an issue in international business transactions, it is the key point how we shall determine the applicable law by national rules for the conflict of laws, or by other methods. The argument in determination of the applicable law to the existence and effect of the arbitration agreement is related to regal nature of the arbitration agreement. As there are foreign factors in international arbitration, therefore we must consider such an aspect. Besides, we have to examine whether the general theory of contract is universally applicable to the arbitration agreement. Currently, it is the general trend that the party's autonomy principle is applicable in determining the applicable law for the arbitration agreement. However, it is a difficult problem to recognize the applicable law chosen by the parties, whether it is based on any regal standard(for example New York Convention or the private international law or the essential quality of the arbitration agreement). In the light of the actual transactions, when the parties don't make a choice of the applicable law expressly, it will finally come down to presuming the party's implied intent. Nevertheless, finding the implied intent is a difficult problem. Some argue that we shall presume the choice of applicable law by an objective standard such as a place of arbitration, to prevent too much expansion of the scope of the recognition. But we need to review that this interpretation harmonizes with the principle of party autonomy. Especially, if we desire to detect the vital point where it is most closely linked to the arbitration agreement, we have to inquire how we will decide such a relation by means of any standard. However, as the existing Arbitration Act doesn't offer the solution to these issues, therefore we have to settle these problems through the development of adjudications and theories.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.12
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• pp.133-162
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• 1999

The international sale transaction is in essence a sale of goods and presents all those commercial and legal problems in any sale of goods. As a result, A International sales contract imposes several duties on the parties : the seller must deliver the goods and transfer ownership in them, while the buyer must pay the price and take delivery of the goods. However, there are several problems which impede a active transaction between seller and buyer who have their places of business in other countries each other. Therefore, It is necessary to provide the concept on the conformity of goods in the Int'l Sale of Goods. Especially, In our consideration for the point of time when defects occurs, the existence of non-conformity of goods should be judged on the basis of time of delivery rather than time of contract. Moreover, The burden of proof about nonconformity of goods is another fact which make an international dispute between the contractual parties in an international trade. Thus, The consistency in the interpretation of law must be maintained betweened the warranty and seller's liability. In the Uniform Commercial Code and UN Convention, non-conformity of contract is made of contract liability. And in our civil and commercial law provisions of warranty should be understand as the special ones of the provisions of general non-performance of obligation liability. As a result, More concrete study of them is required because they may have a great influence especially on international trade. As a result, We should be our best in finding a helpful and systematic structure that the dualistic structure of nonperformance of obligation liability and warranty liability must be unified by studying the theories of English and American warranty and our legal system, as well as international practice and usage being used in an international trade.

• Journal of Digital Convergence
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• v.12 no.10
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• pp.61-71
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• 2014

Global commerce is apparently here to bind Korean firms as well as Koreans. The advertising, buying and selling of goods and services recognizes no borders. As a result, enforcing territorially based trademark rights has become ever more challenging. Remote trademark owners who peacefully coexisted in a time before the internet and increasing globalism are now bumping heads. The internet also has made it easier for unscrupulous operators to deceive consumers and divert customers from established businesses by misappropriating trademarks on web-sites and in domain names. U.S. federal courts have been willing to help American businesses halt trademark infringements that reaches outside the United States. This is particularly true for e-business, via the internet, and the trend toward enforcement seems to be in favor of the trademark owner. This article discusses this trend as well as the extraterritorial enforcement of trademark rights by U.S. courts under the Lanham Act. It also offers suggestions for protecting valuable trademark rights worldwide. This paper will contribute to global Korean firms and Koreans who carefully read arguments in this valuable literature.

• Journal of Engineering Education Research
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• v.21 no.6
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• pp.35-43
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• 2018

In many universities, the Capstone Design course aims to educate creativity, teamwork and leadership, and ultimately aims to cultivate practitioners with practical ability required in the industry. Since the introduction of capstone design as a regular course, it has spread not only to engineering but also to the humanities and social sciences. A typical capstone design is usually carried out within a limited range of schedules and budgets within the scope of a major and a subject. In the case of a special-purpose capstone design, it is necessary to find out excellent items aiming at start-up and commercialization at an early stage, It contributes to the achievement of international convention participation, start-up and commercialization. The teaching styles of capstone design such as multidisciplinary capstone design, fusion capstone design, and global capstone design are developed and operated in various ways. Depending on each type, objectives, curriculum, scope of participation, operation method, performance and so on. In the case of capstone design, it is contributing to increase the achievements such as participation in international conventions, establishment of business and commercialization by early detection of excellent items aiming at start-up and commercialization, development and establishment of support process. Technological and Humanities Convergence Capstone Design Moel is named as the process of designing a four-level idea called "Idea Factory-based Technology-Humannities Fusion Capstone Design Process", and it is used to generate ideas, elaborate ideas, advanced ideas, and commercialization.

• Journal of Arbitration Studies
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• v.34 no.1
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• pp.75-101
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• 2024

"ESG management" guides companies to prioritize corporate social responsibility and sustainable development as key management objectives, going beyond mere financial performance pursuits. This approach involves creating a sustainable and robust supply chain by urging companies, acting as 'supply chain managers', to implement ESG management practices alongside their 'supply chain partners'. The domestic business community has been quick to respond to this trend, recognizing that failure to adhere to ESG standards set by organizations such as the EU and SEC could lead to severe repercussions, including exclusion from international trade and reputational damage. POSCO and NAVER, two leading Korean companies, are at the forefront of practicing ESG management effectively. They have both produced and publicly disclosed ESG management reports, showcasing their success in enhancing supply chain ESG management. However, as supply chain managers enforce ESG-related obligations on their suppliers, the likelihood of disputes between the parties may increase. In scenarios where supply chain ESG management leads to conflicts between supply chain managers and suppliers, commercial arbitration emerges as a viable solution for dispute resolution. This method offers several advantages, including the arbitrators' expertise, time and cost efficiency, the binding nature of decisions akin to a court's final judgment, international recognition under the New York Convention, confidentiality, and ample opportunity for parties to be heard. Our analysis focuses on the emerging disputes between supply chain managers and suppliers within the context of supply chain ESG management, particularly examining the cases of POSCO and NAVER. By categorizing the expected types of disputes and assessing the appropriateness of commercial arbitration for their resolution, we highlight the effectiveness of this approach. Furthermore, we propose leveraging the Korean Commercial Arbitration Board's role to enhance the use of arbitration in resolving supply chain ESG disputes, underscoring its potential as a strategic tool for maintaining sustainable and harmonious supply chain relationships.

• The Korean Journal of Air & Space Law and Policy
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• v.25 no.2
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• pp.43-77
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• 2010

The development of the aviation industry has exponentially increased the volume of passengers and cargo and gradually expanded the damage scope of all kinds of accidents in the process of transportation. As a result, the need for aviation insurance has accordingly grown bigger and bigger every day. That is why most nations have a law to force mandatory insurance on the aviation industry. However, the Montreal Convention of 1999, which Korea also signed and today has the most extensive effect in the international civil aviation community, offers no clear interpretations about the coverage of aviation insurance along with the Air Transport Business Promotion Act of Korea. The advanced nations of air transport business such as EU, the U. S. A. and Canada prescribe the coverage of aviation insurance and have a law that makes it mandatory for all the passengers and third parties to cover air carrier's liability. EU requires them to include cargo and baggage in scope of coverage, and the U. S. A. and Canada recommend insuring by having a shipper receive a written notice containing information about whether the concerned cargo is insured or not. Making the scope of coverage of aviation insurance clear by law serves several purposes including diversifying risks for air transport companies, providing the victims with enough protection, observing the international accountability required in the air transport industry, and promoting the productive and sustainable growth of the aviation industry. Thus problems with Korea's aviation insurance should be resolved by clearly stating the coverage of aviation insurance that the Korean air carriers and operators need to insure according to the current state of Korea's air transport by consulting the legislations of the advanced nations in air transports. and enacting a law to comprehensively govern Korea's aviation insurance.