• International Commerce and Information Review
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• v.7 no.3
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• pp.97-111
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• 2005

This paper object is application of electronic Customers Relationship Management(e-CRM) for buyer This paper focuses on the possibility of the adaption of Escrow system in Local L/C opening and payment. The purposes of this study are to obtain efficiency and stability of Local L/C and to provide opportunity to accept trust of the transaction parties. The results of the study show that Escrow system is recommended when Local L/C opened, because Escrow system has the following merits: (1) Open system of internet can be used to Local L/C process. (2) Transaction process of Escrow system is very simple. (3) One stop transaction can be applied to all the process of local L/C.

• International Commerce and Information Review
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• v.12 no.3
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• pp.35-53
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• 2010

In connection with a non-cash payment through the banking system, "finality of payment" has acquired diverse meanings. In according to Section 4A-209(2), the acceptance by the beneficiary's bank by means of receiving payment "pursuant to section 4A-403(a)(1) or 4A-403(a)(2)," constitutes final settlement through a Federal Reserve Bank or through a funds-transfer system" or credit to the account of the beneficiary's bank. Above of all, Acceptance by beneficiary's bank is the most important. According to 4A-209(b), the beneficiary's bank can accept a payment order in one of four ways : First, by paying the beneficiary; obligating itself to pay the beneficiary or, Second, by notifying the beneficiary of receipt of the order or notifying the beneficiary that its account was credited or, Thirdly, by receiving full payment from the sender's order or Lastly, by passage of time, i.e., the opening of the next funds transfer business day of the bank following the payment date of the order. A beneficiary's bank is considered to have accepted a payment order when the earliest of the four means of acceptance occurs.

• International Commerce and Information Review
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• v.12 no.4
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• pp.385-404
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• 2010

The purpose of this article is to examine the Delays of Performance under UN Convention on Contracts for the International Sale of Goods. In theory, there exist three clearly distinguishable categories of breach of contract, namely non-performance, non-conforming performance and late performance. In particular, delays of performance are the most common breach of sales contract including late delivery, late payment or late performance of any other obligation. In this regard, this article examines how parties can, through careful drafting, avoid or minimize legal problems in case of delay in performance. Especially, the export perspective focuses on the seller's interests, which require that sanctions be as lenient as possible if the seller has breached the contract but that there are prompt and adequate sanctions if the buyer has breached the contract. Furthermore, the seller should ensure that a short or medium delay in delivery will not entitle the buyer to declare the contract immediately avoided and take precautions against late payment, including delayed opening of a letter of credit.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.41
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• pp.103-132
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• 2009

In international sales of goods, the buyer must pay the price for the goods as required by the contract and CISG, The buyer's this obligation includes taking such steps and complying with such formalities as may be required under the contract, which includes providing the seller with relevant letter of credit through the issuing bank. Where the parties have not stipulated the time limit within which the credit should be opened, but there is an agreed date or period for shipment, the time limit for the L/C opening should be calculated back from the agreed date of shipment or the first date of shipment, while, in addition, the buyer should open the L/C sufficiently earlier than the shipment date in order for the seller to be able to know the L/C's opening before beginning to ship the goods. The L/C provided the buyer should conform to the contract of sale. Therefore, for example, when an unconfirmed L/C is provided violating the agreement or the L/C opened states that, under a FOB contract, a "freght prepaid" bill of lading shall be presented as a required document of the L/C, the buyer has failed to perform his obligation. If the buyer fails to perform his obligations to provide the letter of credit, the seller may require the buyer to perform that obligation; may fix an additional period of time of reasonable length for performance of the obligation; or, the seller may declare the contract avoided, if the failure amounts to a fundamental breach of contract, or if the buyer does not, within the additional period of time fixed by the seller, perform the obligation; and the seller claim damages. However, when a relevant L/C has been issued for the seller, as a rule, he cannot ask directly for the buyer to pay the price before avail himself of the L/C first.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.17 no.5
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• pp.195-202
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• 2016

The government has run and managed various forms of direct payment systems, such as the paddy and field direct payment, to ease the instability of farm incomes with respect to market opening, and preserve farm income. Direct payments to the agricultural sector is a center in the key policy instrument that plays an important role in income stabilization. Despite the large amount of spending in the farm unit, the status of direct payment, and policy effects the analysis of direct payments, such as stability of income contribution, are insufficient. This paper, using the farm unit DB in 2014 and 2015, performed farm level analysis of direct payment, and derived the implications of the performance evaluation system. As a result, the distribution of direct payment showed considerable bias to the left side compared to the normal distribution curve. Approximately half of the farms (49.3%) in 2014 DB should receive below 100,000 won per year by a direct payment. A larger-scale farm showed a significantly increased income effect and income stabilizing effect because direct payments make higher contributions to farm income in proportional to the area. In the more elderly farmers, a high contribution by direct payment to farm income was found to be an advantage; however, in small-scale farms of less than 0.5ha, direct payment contribution on farm household income was only 3%. In large-scale farms, 10ha or more, the contribution to farm income were found to be 29.4%. The income of large farms was 10 times larger than small farmers, and the direct payment entitlements that were received were 110 times larger. Through this policy, direct payments are required for future improvements and modifications.

• Journal of Convergence for Information Technology
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• v.10 no.11
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• pp.47-54
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• 2020

This study proposes an NFC-based payment system that considers user convenience while expanding the existing payment method for RFID-based individual food and logistics waste equipment. In line with this trend, I proposed to apply NFC to the existing RFID-based food meter to release the food in the meantime and to address the problem of re-carrying due to card loss, card not possessed, and non-filling, and the question that could not be identified by various cumbersome procedures. NFC's function alone has been certified for its convenience, which led to its introduction and research in the period of time. Of course, we need to negotiate fees with the transportation card company, but if we see a market share related to transportation card soon, we think smooth negotiations will take place. NFC method will be expanded to all phones with iPhone NFC opening. Therefore, in the next study, we intend to apply the payment system in NFC by linking with local currency, mobile vouchers, and card companies, which are being paid as respective payment means according to the recent emergency support system for COVID-19.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.14
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• pp.373-395
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• 2000

Recently international trade environment has been rapidly changed according to information age. In particular, international trade has been carried out with various ways under the digital revolution. In this regard, the companies are handling their business with the open network internet and doing their critical marketing activities which are very different from the existed trade customs. However, trade-related information database which is necessary to import and export activities is partly built, and there are many issues to be settled down. In other words, electronic trade opportunity website in the field of overseas marketing and customs clearance with EDI(electronic data interchange) are developed, but the database which companies can make use of their businesses is not fully supported. Therefore the structured database should be developed urgently from the stage of opening business to that of payment. This study closely analyzes the databases under the trade procedure, look into the problems of those database and suggest the solutions of trade information databases. Finally this study provides a sort of trade infrastructure for the development of international trade by internet through the building of trade information.

• The KIPS Transactions:PartB
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• v.9B no.5
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• pp.599-608
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• 2002

This paper proposes DIT (Digital Investment Trust) agent based on ECSSL (Elliptic Curve SSL). This DIT agent is a banking project using IT (Investment Trust) conception based on EC (Electronic Commerce) and can manage micro payment, account opening and account transferring. In addition, ECSSL (Elliptic Curve SSL) protocol is implemented which consists of much better encryption functions than existing SSL (Secure Socket Layer) Protocol. Therefore, This DIT agent based on ECSSL protocol protects a customer's information and asset from third party.

• The Journal of the Institute of Internet, Broadcasting and Communication
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• v.12 no.6
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• pp.207-213
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• 2012

With development of IT technology, B2C Social Commerce makes the change from closed type of transaction to the form of an open trading. Also by dramatically reducing the intermediate distribution and removing distribution costs, it provides goods at unbeatable prices to consumers. Depending on the flow of the times, the business-to-business struggles with the difficulty of PRM management and fast promotion of new products. Therefore, it is required B2B Social Commerce, new platform that can collect distribution and consumption firms in one place which is similar to B2C Social Commerce. Unlike the case of B2C social commerce, B2B Social Commerce should have an essential element, Installment payment system to pay over the period without purchase in accordance with the payment paid as a lump sum. B2B Social Commerce model which is introduced in this study will provide the solution of B2B transaction problems, opening up new markets and bring the expansion of the electronic market.

• Journal of Service Research and Studies
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• v.10 no.1
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• pp.17-31
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• 2020

Open banking, the global trend of the financial industry, is the driving force behind various innovations in the financial market in the future. The right policy direction and detailed tasks are important for triggering the differentiation and reunion of the financial industry. The purpose of this study is to investigate and analyze the background of open banking, domestic and international trends, and Korea's open banking policy. The policy directions and tasks for successful settlement and activation of open banking system are carefully suggested. Open banking is a policy to allow third party provider(TPP) access to bank accounts and open payment functions under the explicit consent of the customer. The opening of the open banking era is expected to begin competition and cooperation between banks and fintech companies in earnest, thus enhancing the competitiveness of the financial industry and contributing to the utility of financial consumers. To this end, policymakers should make every effort to advance open-ended financial settlement infrastructure, open banking legal grounds, and minimize side effects such as customer data leakage and poor financial system stability. Banks and fintech companies will need to focus on scattered customer financial information on a single platform and develop it into a convergence and discrimination of true financial services.