• Journal of Arbitration Studies
• /
• v.31 no.1
• /
• pp.55-81
• /
• 2021

Awarding interest in international arbitration remains one of the most challenging areas for tribunals and parties given the myriad of issues that arise. This article seeks to provide an overview of how international arbitral tribunals grant delay interest. It reviews the various issues that international arbitral tribunals face concerning pre-award and post-award interest, determining the appropriate interest rate, surrounding simple or compound interest, and the complex issue of choice of law. A comparative context is provided by surveying the laws of major jurisdictions from both the common law and civil law and the regulations of leading arbitral institutions. It concludes with a review of the law, jurisprudence, and practice in Korea related to delay interest and how Korean tribunals under the KCAB Domestic and International Rules have determined delay interest in recent years.

• Korean Journal of Social Welfare Studies
• /
• v.42 no.4
• /
• pp.239-262
• /
• 2011

The Korean government's recent large-scale termination and modification of welfare benefits revealed a procedural problem under the National Basic Living Security Act. Under the Act, welfare recipients have a legal right to make complaints only after the termination or modification is enforced; the Act fails to provide the recipients with an opportunity for a hearing before termination or modification, and this creates serious threats to the recipients, whose livelihoods are dependent on welfare benefits. Korean jurisprudence has adopted the due process of law principle. The principle originated from the due process in US jurisprudence, and Korea has applied it broadly to any government actions that restrict individuals' constitutional or legal rights. This paper reviews the termination or modification procedure under the Act with the lens of the due process principle and criticizes that the current law is not in compliance with the principle. In supporting that such termination and modification procedure infringes on welfare recipients' protected rights, this paper discusses two theories as to what rights are protected. First, termination or modification of welfare benefits can be considered as deprivation of property. The 'property' theory may be weak under Korean jurisprudence, because the concept of property under the Korean Constitution is narrowly construed. Second, this paper relies on the constitutional provision that recognizes "the right to a life worthy of human beings," which requires the State to guarantee minimum standard of living for all. As welfare recipients are deemed to receive benefits as a right under the Constitution, any deviation from the minimum requirement would constitute a violation of constitutional rights. In any case, termination or modification of welfare benefits that are concretized under the Act should be protected under the due process principle, because the principle would cover any government actions that restrict established legal rights. This paper argues that the procedural due process requires the recipients be guaranteed an opportunity to have a hearing before the termination or modification is enforced. An independent decision-maker should hear the proceedings, and the recipients should have an option to orally present their opinions in front of the decision-maker. The hearing process under the Administrative Procedures Act of Korea offers elements that would satisfy these procedural requirements. Thus, this paper concludes that the National Basic Living Security Act should be amended to adopt the hearing process under the Administrative Procedures Act in its termination and modification procedure.

• The Journal of Asian Finance, Economics and Business
• /
• v.7 no.12
• /
• pp.773-782
• /
• 2020

The research objectives are to study the implementation of Islamic Corporate Social Responsibility (i-CSR) values in BMT UGT Sidogiri, an Islamic microfinance institution in Indonesia based on Islamic boarding school or pesantren. This research employed a post-positivist paradigm. Data observation was performed by conducting an in-depth interview with several informants. The data analysis utilized an interactive model technique. The research results showed that i-CSR was successfully implemented in the Islamic microfinance institution based on Islamic boarding school due to the mutual passion (convergence) with conventional CSR typologies. The convergence is in two ways, firstly managerial behavior that focuses on protecting company stakeholders, second, creating sustainable corporate values through effective and efficient business activities. The orientation is the creation of a social role based on justice and sustainable development. The convergence is mainly in the dimensions of economic, legal, ethical and philanthropic responsibilities. The Islamic values have enriched the implementation of i-CSR as the form of practicing the teachings of Islam and evidence of human servitude to God so that the behaviors become worthy of worship. The implementation of i-CSR focused on the Islamic teachings. Compliance to Islamic jurisprudence and apply it in business activities became a divergent element of conventional CSR concept.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
• /
• v.68
• /
• pp.43-63
• /
• 2015

The number of final appeal(the rate of final appeal: 43%) has been on the increase every year over the past ten years in Korea. The number of final appeal cases given to a justice of the Korean Supreme Court amounts to nearly one everyday, which makes it vulnerable to faulty decisions. Reversal rate of final appeal is as low as 10% with most of the cases being dismissed and hence the percentage of people having trust in the judiciary is merely 27%. In this context, the Korean judiciary has announced its plan to set up a final appellate court in the Supreme Court. The establishment of final appellate court, however, is not only against the Constitution but also hardly seen in other nations. It would only overexpand the Supreme Court. Furthermore, the final appellate court would end up deteriorating into the court of fourth instance and impose extra burden on the government as well as on the disputing parties. Therefore, it is necessary to upgrade the quality of the court by increasing the number of judges in the lower court and let them focus on the fact finding process. Facilitating the ADR(Alternative Dispute Resolution) process such as arbitration would help improve the structure of the judiciary. The incompatibility among the four values of the dispute resolution process(equitability, truth, quickness and efficiency) calls for building comprehensive judicial system in which disputes are settled by choosing either jurisprudence or utility.

• The Journal of Asian Finance, Economics and Business
• /
• v.8 no.4
• /
• pp.329-337
• /
• 2021

This research aims to expose the Islamic perspective on the concept of justice on the Mudarabah contract's profit-sharing ratio. In certain verses in Al-Qur'an, Islamic values in Muamalah, the rules dictated by the Qur'an and its practices, and explanations rendered (more commonly known as Sunnah) by the Prophet Muhammad (pbuh) and Sahabah (the companions of the Prophet Muhammad), and Fiqh Axiom (rules) in Muamalah (Islamic jurisprudence), are used as the instruments of sharia to achieve the study objective. Islamic monetary establishments in Indonesia are still not in full consistency with the Shariah principles, significantly as far as satisfying equity and justice by Islamic banks in mudarabah contract (with clients). The ignominy is the nisbah (ratio) between the capital proprietor and the capital director. There are models or propositions to decide the benefit (profit)-sharing proportion. Nevertheless, none of them explains or specifies the possibility of equity/justice in the profit-sharing ratio. This research utilizes an explorative and subjective methodology that contributes to the philosophical premise of deciding the profit-sharing fairness. The elements of a just ratio for the Mudharabah contract are mutual willingness, the existence of negotiation, and the level of advantages and risks of the labor.

• International Journal of Advanced Culture Technology
• /
• v.10 no.4
• /
• pp.453-459
• /
• 2022

This study attempted to explore the realization and research direction of a successful metaverse environment in the future by analyzing international research trends of the metaverse using topic modeling. A total of 208 papers among WoS and ScienceDirect papers using metaverse as keywords were selected, and quantitative frequency analysis and topic modeling were performed. As a result, it was confirmed that research has rapidly increased after 2022. The main keywords of the research topics were 'second', 'life', 'learning', 'reality', 'metaverse', 'virtual', 'blockchain', 'nft', 'medical', 'avatar', etc. The topic keywords 'Second life & Education' and 'Virtual Reality & Medical' accounted for a large proportion of 57%, followed by 'Blockchain & Cryptocurrency', 'Avatar & Interaction', and 'Sensing and Device'. As a result of semantic analysis, current metaverse research is focused on application and utilization, and research on underlying technologies and devices is also active. Therefore, it is necessary to identify the commonalities and differences between domestic and foreign studies, and to study the application method considering the domestic environment. In addition, new jurisprudence research is more necessary along with predicting new problems. It is expected that the results of study will provide the right research direction for domestic researchers in the era of digital transformation and contribute to the realization of a digital society.

• International Journal of Computer Science & Network Security
• /
• v.22 no.11
• /
• pp.284-290
• /
• 2022

The study considers trends and prospects for developing virtual (augmented) reality and civil transactions in relation to digital property. In jurisprudence, there is a need to determine the legal status of virtual and augmented reality to regulate legal relations in the digital environment. Legal relations using new digital technologies require the creation of new legislative approaches and rules of their legal regulation. The article dwells on the legal status of virtual (augmented) reality and determines the methods of regulating legal relations in the sphere of digital property. The study utilized methods for collecting single and multiple facts in order to identify the main trends in the civil circulation of digital assets, as well as private law methods. The methods of generalization, concreteness, induction and deduction reveal the legal nature and main features of virtual (augmented) reality and digital property. The paper highlights the specifics of virtual reality and civil transactions in relation to digital assets. The research has concluded that the sale, exchange and other actions with digital objects in virtual reality have distinctive features, while digital property has also unique characteristics since it is involved in civil circulation and legal relations.

• The Journal of Fisheries Business Administration
• /
• v.48 no.3
• /
• pp.15-32
• /
• 2017

This article's aim is to review the jurisprudence which has emerged pursuant to the international dispute settlement provisions and to provide a provisional expectation as to the future of international dispute settlement under "UNCLOS". Globally, marine fisheries play an important role in ocean biodiversity and the food security of millions of people, providing a vital source of high-quality dietary protein and supporting individuals' livelihoods and income. In the 1982 Convention, the establishment of co-operative mechanisms for effective monitoring, control, surveillance and enforcement, decision-making procedures facilitating the adoption of such measures of conservation and management, and the promotion of the peaceful settlement of disputes are called for. In this study, 'Northeast Asian Sea' means that the Yellow/East China Sea, the East Sea, the Ohotsk Sea, the Kamchaka Sea, the Alaska Sea, and the Bering Sea surrounded by Korea, China, Japan, Russia, U.S.A. and Canada including their EEZs. There are several bilateral fisheries agreements existing in Northeast Asian area, the Fisheries Agreement between Republic Korea and Japan, between Republic of Korea and China, between China and Japan, between Republic Korea and U.S.A., between Republic Korea and Russia, between Russia and Japan, And there are several regional fisheries organizations existing in Northeast Asian area, for example NPAFC(Convention for the Conservation of Anadromous Stocks in the North Pacific Ocean), CBSPC (Convention on the Central Bering Sea Pollack Conservation), PICES(North Pacific Marine Science Organization), NPFC(North Pacific Fishery Commi-ssion) etc. It analyzed the proliferation of bilateral treaties and multilateral treaties due to the adoption of the EEZ in Northeast Asia reviewed the strengthening of management rights on the high seas marine living resources and marine environment preservation of regional fisheries organizations. In view of the changes in the international fisheries mechanism this paper suggested the future direction of the country in overseas fisheries. We concluded as follows. We shall apply bilateral treaties first, regional fisheries organizations' treaties secondly, and provisions under "UNCLOS" for dispute settlement last.

• Journal of Digital Convergence
• /
• v.14 no.10
• /
• pp.17-23
• /
• 2016

I think it is valuable to make Chinese ancient character 'Inscriptions on Bones and Tortoise Carapaces' hieroglyphics popular by combining with the digital. Because Chinese characters are ideograms, it has a huge visual effect. When it is thought over meanings with imaged data by using digital technology, it can be easier to conflate Chinese academia and humanities academia, moreover other academia that uses Chinese characters such as jurisprudence or business administration. I believe not only union of humanities and natural science in the global era can be the best example of the word 'consilience', which I mentioned before, but also people enjoy usability from educations, invention of learning contents or open learning to a cultural field by coming into wide use. Futhermore, it should contribute to changing the image of Chinese characteristics from existing difficult stereotype to positive image.

• Journal of Korean Ophthalmic Optics Society
• /
• v.14 no.4
• /
• pp.27-31
• /
• 2009

Purpose: The purpose of this study was to document the importance of work capability and the educational needs for optometric duty. Methods: Questionnaires were distributed to 813 optometrists and 89 full-time faculties on nation wide in July, 2008. Results: Statistical analysis showed that high mean of 3.53, maximum of 4, for the importance of work capability, and 3.46 for the educational needs as for the total optometric duty. Especially, optometric dispensing was the highest on the importance of work capability and the educational needs, where as medical ethics and optometric jurisprudence and business management was the lowest. Conclusions: Both optometrists and full-time faculties agreed to the importance of work capability and the educational needs, and therefore it should be reflected in optometric education program.