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Differences between the Bank Payment Obligation and Letter of Credit in Global Settlement Method

  • Jon Mo Yoon;Bong-Soo Lee
    • Journal of Korea Trade
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    • v.27 no.2
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    • pp.1-21
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    • 2023
  • Purpose - The bank payment obligation is a transaction method that combines the certainty of L/C transactions with the speed of remittance payments, so the main purpose of this study is to highlight the superiority of bank payment obligation, noting the difference between bank payment obligation and L/C transactions. In addition, we would like to examine how bank payment obligations can actually be applied to support various valuable proposals such as post-shipment and post-shipment finance according to the payment process.. Design/methodology - This study focused on literature based on data from ICC and SWIFT along with previous domestic and international studies. In terms of a research method, a literature review was adopted with electronic trade-related books and journals and policy-related reports from international trade-related agencies. Findings - Unlike L/C transaction, BPO transaction verify the data inquiry process based only on the combination result of the established baseline and dataset. Accordingly, it is superior to L/C transaction in that there is no confrontation between the parties over the results of the inquiry, and clear transactions are possible according to the principle of proof after prepayment. In addition, unlike credit transactions, data inconsistency acceptance procedures confirm payment obligations in consideration of importers' intentions. As a result, as long as trade documents are in the hands of exporting countries, flexible document disposition is possible in response to the situation after payment, which is more advantageous than L/C transaction. Originality/value - Specifically, from the importer's point of view, BPO transactions have the advantage of reducing the manpower required to prepare and review trade documents and processing transaction negotiations with exporters advantageously due to the strength of payment obligations. From the perspective of the exporter, it has the advantage of enabling rapid recovery of trade payments and reducing the risk of importer's cancellation of transactions or content change. From the perspective of participating banks, it is possible to strengthen relations with importer and obtain high commission income by increasing the role of bank reduced by reducing L/C transaction.

Simulation and Analysis of Wildfire for Disaster Planning and Management

  • Yang, Fan;Zhang, Jiansong
    • International conference on construction engineering and project management
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    • 2022.06a
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    • pp.443-449
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    • 2022
  • With climate change and the global population growth, the frequency and scope of wildfires are constantly increasing, which threatened people's lives and property. For example, according to California Department of Forestry and Fire Protection, in 2020, a total of 9,917 incidents related to wildfires were reported in California, with an estimated burned area of 4,257,863 acres, resulting in 33 fatalities and 10,488 structures damaged or destroyed. At the same time, the ongoing development of technology provides new tools to simulate and analyze the spread of wildfires. How to use new technology to reduce the losses caused by wildfire is an important research topic. A potentially feasible strategy is to simulate and analyze the spread of wildfires through computing technology to explore the impact of different factors (such as weather, terrain, etc.) on the spread of wildfires, figure out how to take preemptive/responsive measures to minimize potential losses caused by wildfires, and as a result achieve better management support of wildfires. In preparation for pursuing these goals, the authors used a powerful computing framework, Spark, developed by the Commonwealth Scientific and Industrial Research Organization (CSIRO), to study the effects of different weather factors (wind speed, wind direction, air temperature, and relative humidity) on the spread of wildfires. The test results showed that wind is a key factor in determining the spread of wildfires. A stable weather condition (stable wind and air conditions) is beneficial to limit the spread of wildfires. Joint consideration of weather factors and environmental obstacles can help limit the threat of wildfires.

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Vitalization study on floricultural industry by analyzing Domestic flower consumption realities (국내 꽃 소비실태 분석을 통한 화훼산업 활성화 방안에 대한 연구)

  • Yang, J.H.;Park, N.B.
    • Journal of Practical Agriculture & Fisheries Research
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    • v.17 no.1
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    • pp.21-43
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    • 2015
  • Korean floricultural industry has grown under the full backing of government, as it placed itself as the main export item since 2000s. Despite its high-speed growth after the domestic production scale of trillion won, the floricultural industry lost its pace after 2005, due to the market-opening of agricultural product and global economic depression. Although the national income is growing and the level of civilized living is following, spending on flowers is faltering. As of such circumstances, necessity for analyzing flower consumption trend and behavior has came out, along with the calls for expansion plan of flower consumption, under the basis of result analysis on consumer reports. The result of the research contains the trend/consumption behavior analysis on domestic and foreign flower industry to boost floricultural industry, along with reviews on various studies of the developmental process of domestic and foreign cut-flowers/pot-plants consumption trend. Also this study has reached to the various recognition of people toward flower, through a public survey. Through such results, this study would like to propose the measures for diffusion of flower-consumption culture, achieving the improvement of life-quality of public along. First, efforts on reviewing the customer accessibility is essential to create flower- culture and the consumption. Second, to eliminate the obstacles that prevents flowers from public's daily life is essential. Third is the effective public-relations on flowers. To create consuming culture and to adhere the positive images, it is essential to research and systematically organize categories of color, scent, and elements of flower and utilize them. Last proposal is the organization of flower-concerned personnels and the leading groups. The change is affected by the economical, social environment, along with the emotions of consumers. Therefore the necessity for the leading group to be the control-tower of such changes are very clear.

Change in Cognitive Function after Antipsychotics Treatment : A Pilot Study of Long-Acting Injectable versus Oral Form (항정신병약물 치료 후 인지기능 변화 차이 연구 : 장기 지속형 주사제와 경구제 비교의 예비 연구)

  • Sung, Kiyoung;Kim, Seoyoung;Kim, Euitae
    • Korean Journal of Schizophrenia Research
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    • v.21 no.2
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    • pp.74-80
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    • 2018
  • Objectives : This study investigated whether long-acting injectable (LAI) paliperidone is different from its oral form in terms of the effect on cognitive function in schizophrenia spectrum and other psychotic disorders. Methods : We reviewed the medical records of patients in Seoul National University Bundang Hospital who were diagnosed as having schizophrenia and/or other psychotic disorders based on DSM-5 from 2016 to 2017. Seven patients were treated with oral paliperidone and 11 were treated with paliperidone palmitate. All patients underwent clinical and neuropsychological assessment, including the Korean version of the MATRICS Consensus Cognitive Battery (MCCB) at their first visit or within one month of their initial treatment. MCCB was repeated within three to 12 months after the initial assessment. Results : There was no significant difference between the two groups in most cognitive domains including speed of processing, attention and vigilance, working memory, verbal learning, visual learning and reasoning and problem solving domain. However, patients treated with paliperidone palmitate showed better improvement in social cognition domain than those taking oral paliperidone. The standardized values of social cognition domain scores had significantly improved over time in patients under paliperidone palmitate, demonstrating a significant time-by-group interaction. Conclusion : Our results show that long-acting injectable paliperidone could be helpful in some aspects of improving cognitive function in schizophrenia spectrum and other psychotic disorders. Further studies with other antipsychotics are necessary to generalize the results.

A study on the impact on predicted soil moisture based on machine learning-based open-field environment variables (머신러닝 기반 노지 환경 변수에 따른 예측 토양 수분에 미치는 영향에 대한 연구)

  • Gwang Hoon Jung;Meong-Hun Lee
    • Smart Media Journal
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    • v.12 no.10
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    • pp.47-54
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    • 2023
  • As understanding sudden climate change and agricultural productivity becomes increasingly important due to global warming, soil moisture prediction is emerging as a key topic in agriculture. Soil moisture has a significant impact on crop growth and health, and proper management and accurate prediction are key factors in improving agricultural productivity and resource management. For this reason, soil moisture prediction is receiving great attention in agricultural and environmental fields. In this paper, we collected and analyzed open field environmental data using a pilot field through random forest, a machine learning algorithm, obtained the correlation between data characteristics and soil moisture, and compared the actual and predicted values of soil moisture. As a result of the comparison, the prediction rate was about 92%. It was confirmed that the accuracy was . If soil moisture prediction is carried out by adding crop growth data variables through future research, key information such as crop growth speed and appropriate irrigation timing according to soil moisture can be accurately controlled to increase crop quality and improve productivity and water management efficiency. It is expected that this will have a positive impact on resource efficiency.

A Study on Efficient Design of Surveillance RADAR Interface Control Unit in Naval Combat System

  • Dong-Kwan Kim;Dong-Han Jung;Won-Seok Jang;Young-San Kim;Hyo-Jo Lee
    • Journal of the Korea Society of Computer and Information
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    • v.28 no.11
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    • pp.125-134
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    • 2023
  • In this paper, we propose an efficient surveillance RADAR(RAdio Detection And Ranging) interface control unit(ICU) design in the naval combat system. The proposed design applied a standardized architecture for modules that can be shared in ship combat system software. An error detection function for each link was implemented to increase the recognition speed of disconnection. Messages that used to be sent periodically for human-computer interaction(HCI) are now only transmitted when there is a change in the datagram. This can reduce the processing load of the console. The proposed design supplements the radar with the waterfall scope and time-limited splash recognition in relation to the hit check and zeroing of the shot when the radar processing ability is low due to the adoption of a low-cost commercial radar in the ship. Therefore, it is easy for the operator to determine whether the shot is hit or not, the probability of wrong recognition can be reduced, and the radar's resources can be obtained more effectively.

Autonomous Flight of a Drone that Adapts to Altitude Changes (고도 변화에 적응하는 드론의 자율 비행)

  • Jang-Won Kim
    • The Journal of Korea Institute of Information, Electronics, and Communication Technology
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    • v.16 no.6
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    • pp.448-453
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    • 2023
  • As the production of small quadcopter drones has diversified and multi-sensors have been installed in FC due to the spread of MCU capable of high-speed processing, small drones that can perform special-purpose operations rather than simple operations have been realized. Hovering, attitude control, and position movement control were possible through the IMU in the FC mounted on the drone, but control is not easy when GPS connection and video communication are not possible in a closed building with a complex structure. In this study, when encountering an obstacle with a change in altitude in such a space, we proposed a method to overcome the obstacle and perform autonomous flight using optical flow and IR sensors using the Lucas-Kanade method. Through experiments, the drone's altitude flight on stairs that replace the complex structure of a closed space with stable hovering motion has a success rate of 98% within the tolerance of 10 [cm] due to external influences, and reliable autonomous flight up and down is achieved.

Deterioration Characteristics of Naturally Aged AA 2026 due to ExpoSure to High Temperatures (자연 시효 처리된 AA 2026의 고온 노출에 따른 물성 열화 특성에 대한 연구)

  • HaNeul Kim;HyeonWoo Kang;ByoungLok Jang;HeeKook Kim
    • Journal of the Korean Society for Heat Treatment
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    • v.37 no.3
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    • pp.114-120
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    • 2024
  • AA 2026, which is used as an aviation material, is an improved version of 2024 and has higher physical properties, and is a material that has the potential to be applied to supersonic aircraft to be developed in the future. However, when an aircraft exceeds supersonic speeds, the surface heats up and the material must be resistant to this. Therefore, this study confirmed the high-temperature properties of AA 2026, an aviation structural material. AA 2026, solution treated at 500℃ for 4hr, was naturally aged at room temperature for more than 168 hr. Changes in microstructure and physical properties were confirmed over several hours of exposure to 100℃, 200℃, and 300℃, respectively. As a result of microstructure analysis, there was no significant change at 100℃, and from 200℃, GPB, a strengthening mechanism, grew and formed an S Phase. It was confirmed that the S Phase grew as the exposure time increased. Through a tensile test, it was confirmed that physical properties deteriorated as the precipitates grew. However, it was confirmed that the properties were stably maintained at 100℃, which is the temperature when the speed of a supersonic aircraft is less than Mach 2.

Investigation on flutter stability of three-tower suspension bridges under skew wind

  • Xinjun Zhang;Xuan-Rui Pan;Yuhan Leng;Bingze Chen
    • Wind and Structures
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    • v.38 no.1
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    • pp.43-58
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    • 2024
  • To ensure the flutter stability of three-tower suspension bridges under skew wind, by using the computational procedure of 3D refined flutter analysis of long-span bridges under skew wind, in which structural nonlinearity, the static wind action(also known as the aerostatic effect) and the full-mode coupling effect etc., are fully considered, the flutter stability of a three-tower suspension bridge-the Taizhou Bridge over the Yangtze River in completion and during the deck erection is numerically investigated under the constant uniform skew wind, and the influences of skew wind and aerostatic effects on the flutter stability of the bridge under the service and construction conditions are assessed. The results show that the flutter critical wind speeds of three-tower suspension bridge under service and construction conditions fluctuate with the increase of wind yaw angle instead of a monotonous cosine rule as the decomposition method proposed, and reach the minimum mostly in the case of skew wind. Both the skew wind and aerostatic effects significantly reduce the flutter stability of three-tower suspension bridge under the service and construction conditions, and the combined skew wind and aerostatic effects further deteriorate the flutter stability. Both the skew wind and aerostatic effects do not change the evolution of flutter stability of the bridge during the deck erection, and compared to the service condition, they lead to a greater decrease of flutter critical wind speed of the bridge during deck erection, and the influence of the combined skew wind and aerostatic effects is more prominent. Therefore, the skew wind and aerostatic effects must be considered accurately in the flutter analysis of three-tower suspension bridges.

Dynamic Analysis of Tie-rod-fastened Rotor Considering Elastoplastic Deformation (탄소성 변형을 고려한 타이로드 고정 회전체의 동역학 해석)

  • Dongchan Seo;Kyung-Heui Kim;Dohoon Lee;Bora Lee;Junho Suh
    • Tribology and Lubricants
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    • v.40 no.1
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    • pp.8-16
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    • 2024
  • This study conducts numerical modeling and eigen-analysis of a rod-fastened rotor, which is mainly used in aircraft gas turbine engines in which multiple disks are in contact through curvic coupling. Nayak's theory is adopted to calculate surface parameters measured from the tooth profile of the curvic coupling gear. Surface parameters are important design parameters for predicting the stiffness between contact surfaces. Based on the calculated surface parameters, elastoplastic contact analysis is performed according to the interference between two surfaces based on the Greenwood-Williamson model. The equivalent bending stiffness is predicted based on the shape and elastoplastic contact stiffness of the curvic coupling. An equation of motion of the rod-fastened rotor, including the bending stiffness of the curvic coupling, is developed. Methods for applying the bending stiffness of a curvic coupling to the equation of motion and for modeling the equation of motion of a rotor that includes both inner and outer rotors are introduced. Rotordynamic analysis is performed through one-dimensional finite element analysis, and each element is modeled based on Timoshenko beam theory. Changes in bending stiffness and the resultant critical speed change in accordance with the rod fastening force are predicted, and the corresponding mode shapes are analyzed.