• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.58
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• pp.215-236
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• 2013

It is quite true that the more Korean contractors receive overseas contracts, the more they need guarantees. The top market for them is the Middle East countries, consisting of more than the half of the total amount awarded last year and the trend is increasing as well. The problem, however, is that employers in these countries are reluctant to use international rules for guarantee such as URDG or ISP98 and easily make unfair callings. However, Korean contractors(applicants), especially small and medium sized enterprises(SMEs) tend to hurriedly enter a contract without looking into its contents as well as guarantees. They do not realize the importance of the guarantees until they receive callings from the employers(beneficiaries). Being independent from the underlying contracts, guarantee is the equivalent to cash in that it usually does not require any proof of demand when calling and the guarantor should make a payment within usually 5 business days after the request. It is often observed these days that several Korean SMEs go bankrupt due to liquidity risks after receiving unfair callings from employers in the Middle East countries. In retrospect, some cases could be obviated if contractors were a little more careful in checking the contents of a guarantee at the time of concluding a contract. For example, there is one case where the underlying contract includes a reduction clause in the Advance Payment bond and the guarantee does not have that clause. In the end, the Korean contractor had to take the whole burden of the bond amount though it had finished 81% of the project. Nobody could argue that contractors should take a full responsibility if they fail in their obligations. However, the employer's wrongful callings need to be prevented in the first place, if possible. As there shouldn't be a case where one party is at a disadvantage against the other like the case mentioned above, useful insight is being sought to minimize unfair calling risks for the benefit of the applicant. First, the applicant should carefully look into every detail of the potential guarantee before signing a contract, heeding especially that there is a reduction clause in the AP bond. Second, the governing principles for guarantee should be the ones that are internally used such as URDG758 that is objective in terms of callings given that, for example, it specifies that the requirement for a supporting statement when making a demand is a default rule. It is also recommended that the form of guarantees be the standard demand guarantee. Third, parties involved in issuing guarantees are advised to understand international rules for guarantee like URDG758 and ISP98 and to play a key role in guiding SME contractors in Korea so that they can protect themselves from possible wrongful callings, particularly from employers in the Middle East countries. I hope this study would give a wake-up call for Korean SMEs wishing to do business in the Middle East countries and remind them of the importance of guarantee itself and its governing principles.

• The Journal of the Korea Contents Association
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• v.18 no.12
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• pp.646-659
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• 2018

This study proposed "Reservoir Park", which added disaster prevention function to urban green spaces such as city parks through domestic and overseas related laws review, case studies, field trips. This is a combination of urban parks and reservoirs as urban planning facilities, which can provide both space for daily use by urban residents and disaster mitigation functions in case of emergency. In order to prevent flooding in urban areas due to climate change, facilities should be installed in the form of parks, etc., as the reservoir facility should be systematically reviewed together with urban planning facilities. However it was found that the reservoir park was not clear as a theme park. In this study, the types of storage facilities in urban areas were reclassified into five types of storage parks reflecting the characteristics of urban green spaces through domestic case studies and field trips. The classification of the reservoir parks is classified into 5 kinds such as ecological type, vegetation cover type, exercise facility type, underground burial type and hybrid type based on groundwater level, human use, and reservoir size. This classification system can be used to determine the types of facilities to be built after designating the location of future storage facilities.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.18 no.11
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• pp.668-675
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• 2017

In Korea, natural disasters such as earthquakes and floods continue to occur, but it is difficult to respond and provide relief effectively and promptly. Due to the Circulation Position and administrative characteristics, soft and physical systems for basic disasters, such as private cooperation and disaster response bases, have not yet been built organically. This is mainly due to the job rotation of the responsible persons and bureaucratic problems limiting cooperation between the public and private sectors. Japan is responding to disasters through a mutual cooperation network between the public and private sectors (NGOs), but in Korea the public sector still manages disasters entirely by itself. However, in modern society, the ability of the public sector to effectively manage disasters is limited due to the large number of natural disasters and their wide-ranging consequences. This situation makes it difficult to respond quickly and effectively to the various crises that arise. In this paper, we review the disaster response bases in the cases of Japan and the United States, and propose the establishment of a disaster response base system that supports disaster countermeasures together with a cooperative network incorporating the private and business sectors.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.19 no.9
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• pp.435-445
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• 2018

This study analyzed factors that should be considered in the process of export diversification strategy formulation and priorities of strategies. We reviewed the extant literature and interviewed six experts. Cross-sectional analysis of a literature review and interview results were used to determine the influencing factors of export. The data for this study were collected from a survey of 68 export experts in Automotive Parts enterprises. Data were analyzed using AHP. As a result of the analysis, the order of importance appeared in the order of internal capacity, correlation buyer effect, entry barriers, technology response, and competition environment. The regions with a high overseas level were product differentiation, centralization, and low cost, whereas those with a low level were in the order of low cost, product differentiation, and concentration. It is meaningful to review the alternatives for adoption of the export diversification strategy and establish a strategy appropriate to the situation. It is necessary to establish a customized strategy considering the characteristics of the global region, and not only internal competence but also mutual relationship with local buyers are important.

• Korea Trade Review
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• v.45 no.4
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• pp.137-152
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• 2020

The increase in national income, the expansion of transportation network, the increase in leisure time, and the influx of foreign tourists in the era of internationalization, the influx of the outside population of Jeju region increased rapidly until 2020. However, the corona 19 (Covid-19) incident that began in January 2020 has hit the entire industry, and the tourism industry in Jeju has also been greatly damaged. However, in the second half of 2020, with some calming of the Corona 19 situation and difficult to leave overseas, the number of visitors to Jeju Island is increasing again as Koreans choose Jeju Island as their domestic tourism. This study analyzed the capacity of Jeju's external population based on the Contingent Valuation Method, and based on this, attempted to suggest policy recommendations for Jeju. The size of accommodations such as the density of visitors, toilets, and rest areas were excluded from consideration, and the level of securing the parking lot already exceeded the capacity, and the rate of securing the parking lot was 93.4%. In the case of accommodation, the total number of available rooms is 88,691, even if one guest per room is assumed, which is 32,372,215 per year, which is sufficient in terms of visitor capacity. To analyze the aspects of psychological capacity, this study analyzed whether the residents are feeling psychological discomfort through three methods of road congestion, garbage disposal, and sewage treatment through Contingent Valuation Method. However, the inconvenience caused by the increase of visitors and the effect of continuous population influx is working in combination, and it has the limitation that the effects of these independent factors cannot be specifically separated. As a result of the study, discomfort has already been recognized in terms of psychological capacity among the factors of capacity, and it was estimated that a cost of about 45 billion won per year was incurred as a result of deriving psychological costs through Contingent Valuation Method. In the future, a policy review is needed to resolve or maintain the perception of this discomfort through continuous management. Accordingly, it is necessary to recognize that the increase of visitors leads to the psychological discomfort of the residents, and to seek a policy alternative that can simultaneously increase the number of visitors and the comfort of the residence.

• Korean Journal of Construction Engineering and Management
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• v.16 no.4
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• pp.107-117
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• 2015

As the demand for urban business hotel has increased in the recent years due to the sharp rise in overseas tourists, the potential of business hotel development has gained in financial attention for the real estate investment. However, its concept and business domain has not been defined, and none of investment guidance for the development has not been clarified. Accordingly, this report intends to define the concept of urban business hotel in perspective of real estate investment through prior case studies and literature review, and provide the structure of determinants which control its investment decisions. Furthermore, this study develops the weight of determinants depending on the type of investment, and evaluate the two actual projects in urban area of Seoul, differed from investment type: direct and indirect, based on AHP and Fuzzy methodologies. Research finding indicate that the financial factors affecting the sales and tour business condition factors are critical determinants regardless of investment type. And it is notable that the direct investment perspective pays more attention on the finance and investment associated determinants while the indirect one more focuses on the regional and environmental ones. From the analysis of case evaluation, it is also noteworthy that the direct investors turn out to be more conservative than indirect investors due to the risk of equity capital investment.

• Environmental and Resource Economics Review
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• v.15 no.4
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• pp.693-712
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• 2006

A pre-feasibility test is done for renewable energy hybrid power systems at off~grid islands in which the current power supply is provided only by diesel generation. We apply Homer (Hybrid Optimization Model for Electric Renewables) which was developed by the National Renewable Energy Laboratory (NREL) for the analysis to identify the cost-minimizing combination of power generating facilities for the given load profiles. Chuja-Do, Geomun-Do and Youngsan-Do have been selected for our analysis considering the wind resources data of the Korea Institute of Energy Research (KIER). Information on wind speed, solar radiation and temperature is also used for the analysis. System component cost information from overseas market has been used due to the lack of domestic information. Site specific Load profile for electricity demand for those islands are reconstructed based on the partial survey results obtained form other sources. The LCOE of the least cost hybrid power systems for Chuja-Do, Geomun-Do and Youngsan-Do are $0.278/kWh, $0.234/kWh and $0.353/kWh, respectively Considering the fact that diesel generation is being subsidized at the price of $0.300/kWh by the government, first 2 cases are economically feasible for the introduction of renewable energy hybrid systems to those islands. But the third case of Youngsan-Do does not meet the criteria. The basic differences of these pre-feasibility test results are from the differences of the site specific renewable energy conditions, especially wind resources. In summary, promoting hybrid systems in the off-grid remote island should be based on the economic feasibility test results. Not all the off-grid islands are feasible for introducing this renewable energy hybrid system.

• Journal of The Korean Association For Science Education
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• v.35 no.4
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• pp.565-572
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• 2015

The purpose of this paper is to offer an analysis on the research trends of web-based inquiry learning effectiveness in science education, and to present suggestions for future studies. This study compiled data on 43 articles in Korea and international journals. The content analysis of articles published were from academic journals related to science education and educational technology from 2000 to 2014. The results are as follows: Among domestic articles, the participants ranged from school children to high school students. On the contrary, among foreign articles, the participants are centralized on secondary school students; most used experimental studies; most of the studies resulted with web-based inquiry learning in science education showing effectiveness on science learning performance or science inquiry ability; all web-based inquiry learning were designed using different models of teaching and learning, with the result in the case of domestic research, the utilized models refer to the STS learning model, Internet utilization problem-center inquiry learning model, Procedural model, while in the case of overseas research, the utilized models are SCY, IBLE, and TESI model. Implications of the findings are then discussed, which implies considerations for further research related to web-based inquiry learning.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.12
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• pp.377-401
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• 1999

This study is focused on the privity of the contract of carriage of goods by sea, so to speak, privity between B/L holder and carrier by transfer of bill of lading, privity by attornment to delivery order and conflict between bills of lading and charterparty terms. Under a CIF contract, possession of the bill of lading is equivalent to possession of the goods, and delivery of the bill of lading to the buyer or to a third party may be effective to pass the property in the goods to such person. The bill of lading is a document of title enabling the holder to obtain credit from banks before the arrival of the goods, for the transfer of the bill of lading can operate as a pledge of the goods themselves. In addition, it is by virtue of the bill of lading that the buyer or his assignee can obtain redress against the carrier for any breach of its terms and of the contract of carriage that it evidences. In other words the bill of lading creates a privity between its holder and the carrier as if the contract was made between them. The use of delivery orders in overseas sales is commen where bulk cargoes are split into more parcels than there are bills of lading, and this practice gives rise to considerable difficulties. For example, where the holder of a bill of lading transferred one of the delivery orders to the buyer who presented it to the carrier and paid the freight of the goods to which the order related, it was held that there was a contract between the buyer and the carrier under which the carrier could be made liable in repect of damage to the goods. The contract was on the same terms as that evidenced by, or contained in, the bill of lading, which was expressly incorporated by reference in the delivery order. If the transferee of the delivery order presents it and claims the goods, he may also be taken to have offered to enter into an implied contract incorporating some of the terms of the contract of carriage ; and he will, on the carrier's acceptance of that offer, not only acquire rights, but also incur liabilities under that contract. Where the terms of the charterparties conflict with those of the bills of lading, it is interpreted as below. First, goods may be shipped in a ship chartered by the shipper directly from the shipowner. In that case any bill of lading issued by the shipowner operates, as between shipowner and charterer, as a mere receipt. But if the bill of lading has been indorsed to a third party, between that third party and carrier, the bill of lading will normally be the contract of carriage. Secondly, goods may be shipped by a seller on a ship chartered by the buyer for taking delivery of the goods under the contract of sale. If the seller takes a bill of lading in his own name and to his own order, the terms of that bill of lading would govern the contractual relations between seller and carrier. Thirdly, a ship may be chartered by her owner to a charterer and then subchartered by the chaterer to a shipper, to whom a bill of lading may later be issued by the shipowner. In such a case, the bill of lading is regarded as evidencing a contract of carriage between the shipowner and cargo-owners.

• International Area Studies Review
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• v.14 no.1
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• pp.33-53
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• 2010

This study has analysed riffle effect of shipbuilding business on regional economy in Jeonnam. For the analysis on connection to regional business, the most favored way to estimate economic effect of a certain industry in the nation and overseas, has been adopted. As a result of analysis, in case of 1,908,800 million won turnover in shipbuilding in Jeonnam, it would induce about 3,038,624 million won of production, about 940,656 million won of added value, about 13,361 employment and about 702,056 million won of income. Seeing production riffle effects of shipbuilding industry in Jeonnam on other businesses in the same area, it is found out to influence in order of on the primary industry metal products 458,784 million won, chemical products 128,250 million won, metal products 71,498 million won and on petrol and coal products 50,829 million won. Like this, shipbuilding industry is highly connected with metal and chemical industries, which make a cluster in eastern area of Jeonnam, suggesting that growth of shipbuilding industry in Jeonnam would maximize inter-industrial synergy effect in the region.