• The Journal of Asian Finance, Economics and Business
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• 제2권4호
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• pp.31-38
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• 2015

During the last two decades the idea that central bank independence and transparency helps to maintain price stability, became popular among economists and central bankers. Many countries' governments give their monetary authorities higher independence and transparency to achieve the price stability goal. However, emerging countries such as Kazakhstan, suffer from high inflation. This inflation occurs largely due to a low level of independence and transparency of central banks. This research project measures the current level of independence and transparency of central bank of Kazakhstan. Indices were used to measure central bank independence and transparency. Central bank independence was measured by two types of indices: based on central bank laws (legal independence) and based on central banks governor's turnover (TOR). Developing countries have a weak legal framework, implying that a legal independence index cannot be appropriate to use as a measures of actual independence. Therefore, by paying attention to the other two indices, we can say that the central bank of Kazakhstan has a low level of independence and transparency. This, in turn, can be one of the causes of high inflation in Kazakhstan.

• 지역과문화
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• 제8권4호
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• pp.23-42
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• 2021

이 논문은 지방문화원진흥법에 지방문화원의 수익사업과 관련된 규정을 마련하여 지방문화원의 재정적 자립을 구축하기 위한 법적 방안을 검토하였다. 지난 70여년간 지방문화원은 지역문화의 중심지였으나, 재정적으로 자립하지 못하고 보조금에 의해 존속해왔다. 외부에 의존하는 재정구조는 지방문화원 목적사업의 수행을 어렵게 하고, 지속 가능성까지 위협한다. 법적으로 지방문화원은 지방문화원진흥법에 따라 설립되는 특수법인으로서, 설립근거법령에 따라 법적 지위와 기능이 규정된다. 현행 지방문화원진흥법은 지방문화원의 목적사업 외에 수익사업을 영위할 수 있음을 규정하지 않고 있다. 그러나 다른 특별법으로 설립된 특수법인들의 입법례를 검토할 때, 지방문화원진흥법도 지방문화원의 수익사업과 관련된 규정을 마련할 수 있을 것으로 파악된다. 이 글은 구체적인 법안을 제시하는 한편, 그 외 재정자립에 필요한 논의들을 함께 제시하였다.

• 무역학회지
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• 제47권5호
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• pp.115-128
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• 2022

This paper reviewed "unconscionability" as an exception to the independence principle of bank guarantees. Apart from fraud which has been recognized in most international jurisdictions, Uuconscionability would also be recognized as the exception to the legal principle, the so-called "fraud rule" or "an abuse of rights." Unconscionability exception is applied in the same manner as fraud and other exceptions to the principle of independence. The exception should allow guarantor to dishonor the drawings that abuse the independence principle. However, outright or manifest facts of the unconscionability must be established in order to apply the exception. Lots of arguments or conflicts may be caused in applying the unconscionability exception. Therefore, this study aims to prevent institutional abuses or to reduce the disputes from setting up the legitimate scope and standard for application of the exception by reviewing these procedural issues and problems under bank guarantee transactions. This paper also suggested practical implications and countermeasures for the institutional application.

• 무역상무연구
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• 제78권
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• pp.31-51
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• 2018

As International arbitration has increased in popularity, there has been an expansion in the pool of arbitrators, and a commensurate diversification of not only the legal backgrounds but cultural backgrounds among themand among parties. As a result, there has been increased attention on the standards used to evaluate arbitrators' conduct and ethics, especially among them, 'Impartiality and Independence of Arbitrator' which is a precondition for an acceptable awards. There is no international treaty or code governing these issues. But the International Bar Association(IBA) seems to be leading the way such as establishing practical guidelines regarding to impartiality and independence of arbitrator. This article will review some theories, cases about impartiality and independence of arbitrator, and practical standards through the IBA guidelines. It is intended to provide specific guidance and criteria to the arbitrators, parties and counsels. And also it is expected to prevent unnecessary delays in arbitration proceedings in advance and filing for the annulment of arbitral awards because of lack of impartiality and independence of arbitrator as well.

• 무역상무연구
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• 제49권
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• pp.139-164
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• 2011

Traditionally courts have been adopted over the years two standards of dealing with compliance of documents such as strict compliance and substantial compliance and the substantial compliance, which was somewhat less demanding than the strict compliance. However the new guidelines of ICC's international standard banking practice for the examination of documents under documentary credits set up how the UCP is to be applied in practice. The payment obligations of an issuing bank to a beneficiary are independence of the performance or the nonperformance of any contract underlying the letter of credit. However, strictly applying the principle of independence and abstraction could produce unfair results by operating unjustly enrich an unscrupulous beneficiary in case of fraud. Accordingly, when a beneficiary presents complying documents, the issuing bank is bound to honour the presentation unless the fraud rule applies on the facts of the case such as forged or material fraud. If it does, the issuing bank(issuer) needs not pay despite the complying presentation of documents by the beneficiary under the Uniform Commercial Code Article 5-109 and case law in America. However the fraud rule was not addressed in UCP 600. In conclusion, view in terms of legal principle and the court cases is variable and difficult to honour or dishonour the presentation in case of application of the independence principle and fraud rule such as the problems on burden of proof timely, possibility of granting injunction in order to protect against victim for bona fide applicant.

• 대한안전경영과학회지
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• 제24권2호
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• pp.77-85
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• 2022

This study tried to suggest a systematic improvement plan to prepare a civil safety insurance operation and management system by reviewing the operation and management status of civil safety insurance, which is operated and managed by each local government autonomously. In this study, the problems of the current civil safety insurance were analyzed by dividing them into the lack of systematic management of insurance items, overlapping coverage between insurance items, and deviations in compensation limits. As a systematic improvement plan, it was suggested to secure the systemic management of guarantee items, standardize compensation standards, prepare an integrated operation and management system, and provide financial support for local governments with poor financial independence. Since the problems and improvement plans for the civil safety insurance analyzed as described above are formed by exchanging and receiving a complex mutual influence, the institutional improvement plan for the operation and management system of the civil safety insurance is not only a specific part of the study, but also comprehensively current citizens. Based on the results derived from the analysis of safety insurance, it is concluded that alternatives must be found.

• Strategy21
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• 통권38호
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• pp.13-46
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• 2015

Dokdo issue reaches beyond economic and security interest to Koreans, as it is regarded as symbol of her independence. Albeit the fact that Japan has merely no legitimate title over Dokdo, Japan has been tenaciously insisting their jurisdiction over Dokdo since the independence of Korea. Under such circumstances, public outrage towards Japan is most certainly understandable. Yet, mere outrage itself, lacking in logic and factual grounds, can contribute little if not any, to the desirable solution of the problem. Precedents reveal that dealing maritime issues amid lack of profound understanding in international law has often led to undesirable results, such as the inclusion of Dokdo in the Joint Management Fisheries Zone in 1999 Korea-Japan Fisheries Agreement. In a sense, adroit use of international law is a critical element in preserving Korea's sovereign rights against persistent Japanese plans to rob Dokdo once again. The Dokdo issue is inextricably bound to international law; the legal status of Dokdo as island, the equitable solution of maritime boundary delimitation and effective control, existence of dispute. Yet, the public policies and arguments made by pundits are generally in lack of understanding in international law. It is now the time for Korea to commence on long-term cross-academia / department plans to establish Dokdo strategy as part of the nationwide maritime strategy effectively using international law as its stronghold.

• 한국중재학회지:중재연구
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• 제34권2호
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• pp.45-64
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• 2024

In international transactions, a demand guarantee is commonly used as a so-called independent bank guarantee to protect against the other party's default under, or breach of, contract). However, there is a risk that the independence and the documentary character of the demand guarantee may be abused by the beneficiary of the guarantee, who may fall into the temptation to demand or call for payment under the guarantee by preparing documents that appear to constitute a complying demand for payment, even though the demand has no conceivable basis. In Korea, through case law, a legal rule has been developed to prevent such abusive calls for payment. This paper examines how such rule that prohibits abuse of rights is applying in the context of counter-guarantees. To this end, this paper first considers the concepts of a demand guarantee and a counter-guarantee and the basic legal principles applicable thereto. And then this paper considers abusive calls under the guarantees, that exceptionally works as grounds for refusal of payment by guarantors and counter-guarantors, further looking at some situations in which the calls amount to be abusive under counter-guarantees in particular.

• 한국중재학회지:중재연구
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• 제32권1호
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• pp.71-91
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• 2022

The legal integration in the European Union that seeks a unified system in consumer disputes and the German Consumer Dispute Mediation Act based on this pursues the procedural fairness of consumer disputes and the equality of results. The role and legal status of the dispute mediator, who plays a very important role in this process, and the stable operation of the dispute resolution system and the guarantee of reasonable results through the guarantee of fairness and independence are very important values. In particular, the dispute mediator under the Act is conceptually different from the existing mediator or mediator, and through this distinction, the duties and contents of the dispute mediator are also distinguished. For this reason, the qualifications of dispute mediators that affect the outcome of dispute mediation are strictly stipulated. There have been some criticisms of this strictness, and such strictness is also seen as an excessive limitation. However, these standards can be understood as one of the efforts to make the dispute mediation procedure more systematic and to operate objectively in accordance with laws and procedures. In addition, in relation to the issue of independence and impartiality of the dispute mediator, the status of the dispute mediator is guaranteed in various aspects. In economic terms, it is not influenced by external factors, and furthermore, in order to guarantee job stability, the results of job security and dispute resolution are not linked. By examining the appropriate level of discipline for these dispute mediators, we expect the developmental growth of the consumer dispute resolution system under our Act.

• 디지털융복합연구
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• 제15권1호
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• pp.45-52
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• 2017

미디어 환경의 변화 등에 따라 지역방송에 대한 지원방안이 요구되고 있다. 지역방송의 발전을 위한 법적 제도적 측면에서 지역방송발전지원특별법의 시행은 새로운 계기가 되었다. 이러한 측면에서 지역방송발전지원특별법에 대한 성과와 한계를 분석하였다. 연구방법은 문헌연구를 통하여 연구문헌과 관련 법령들을 분석하여 지역방송발전을 위한 법적 제도적 지원방안을 모색하였다. 분석결과 지역방송발전위원회가 실질적인 의결기능과 책임을 가지는 방향으로 법적 제도적 권한강화 방안이 모색되어져야 하며, 운용기금에 대한 독자성을 확보하는 문제와 지역방송발전계획에서 지역방송프로그램 제작 능력과 유통구조를 촉진하는 방안이 모색되고, 지역성을 평가하는 지역성지수에 대한 보다 정교한 방안이 필요하다. 지역방송은 공익성과 공공성, 지역성과 다양성을 확보하는 방향으로 발전되어야 하며 이를 지원하는 제도적 정책적 방안이 모색되어져야 한다.