• Journal of Arbitration Studies
• /
• v.30 no.4
• /
• pp.95-119
• /
• 2020

Securing a stable supply chain is becoming a significant concern among countries as the global uncertainty rises with the expansion of global protectionism and the result of what the COVID-19 pandemic has brought around the world. This study has investigated dispute cases between customs authority and trade corporations based on the KOREA-ASEAN FTA and suggested the following implications and improvements: Firstly, the extent (varieties) of the proof document on cumulation and its form should be stipulated and provided through consultation between customs from each contracting party. Secondly, it ought to be prescribed as an obligation so that producers located in the third country can cooperate in providing documents for certification of origin. The duty to provide such documentary evidence should also be specified when making EX-IM contracts. Lastly, origin verification provisions regarding cases to which cumulation is applied have to be complemented so that the verification period's extension can be applied and approved. One can expect that the abovementioned responses on cumulation will enhance the availability of KOREA-ASEAN FTA.

• The Korean Journal of Air & Space Law and Policy
• /
• v.31 no.2
• /
• pp.37-72
• /
• 2016

In the aerospace field, besides special purpose airplanes, contracts for supply of various types of products such as prototypes, unmanned aerial vehicles and space launch vehicles are increasing. In the case of the contractor, it was planned to spend a large amount of money to supply the production, but if the purchase specification that presents the quality and performance standard of the product is poor or lacks the capacity to judge the performance, consuming enormous amounts of time and money. Even if the undertaker does not have the ability to supply the products with the required performance and quality to achieve the purpose of the contract, he/she must pay the cost of burial due to the incompleteness of the work and the compensation for the cancellation of the contract. In this case, the defendant ordered the plaintiff to supply the aircraft by the Happy Box method, which is capable of ILS Offset flight as specified in the Purchase Specification, but the plaintiff attempted to supply the aircraft by the RNAV method. Although the ILS ground signal can be inspected by the RNAV method, the aircraft manufactured in the manner claimed by the plaintiff does not have the ILS Offset flight function required by the purchase specification, so the defendant can not achieve the purpose required by the purchase specification. It was a question of whether a defendant's cancellation of contract was legitimate. The aircraft, which is the object of this contract, is a subordinate substitute, so the case contract is of undertaking. Therefore, in order to complete the work in this contract, the major structural parts of the aircraft must be manufactured as agreed and have the performance generally required in the social sense. However, the aircraft delivered by the plaintiff has serious defects because the defendant can not achieve the purpose required by the purchase specification due to the lack of the ILS Offset flight function required by the purchase specification. This deficiency is impossible for the plaintiff to repair, so the defendant 's cancellation of the contract is legitimate.

• Journal of the Korean Society of Food Science and Nutrition
• /
• v.46 no.6
• /
• pp.739-743
• /
• 2017

Product distribution and consumption in the military is difficult due to unique contracts and supply systems. It is difficult to change suppliers immediately when quality problem is encountered. Due to these special circumstances, the quality of products must be thoroughly controlled. Sesame oil is used to increase the taste and nutrition of food, but it is more expensive than other cooking oils. Oil producers may blend other cooking oils with sesame oil to make higher profits, so it has become important to identify good and bad products. In this study, pure sesame oil and blend oils were compared by analyzing their smell, taste, chemical components, and near infra-red spectra to determine quality differences between them.

• Journal of the Korean Society of Clothing and Textiles
• /
• v.34 no.4
• /
• pp.703-714
• /
• 2010

This study assumes that Korea's offshore outsourcing is used for diverse purposes such as designing, the supply of raw and subsidiary materials, production, and manufacturing. The purpose for production exists in the beginning stages of development, because it would have grown in scope since the 1990s when offshore outsourcing began in earnest. In this study, in-depth interviews were conducted with 24 firms with an annual production capacity of more than 200,000 pieces among clothing brands for the domestic market, clothing exporters, and promotion agencies. The interviews took place from December 18, 2008 to January 30, 2009. The interviewees were limited to the officers who had the authority to select manufacturers and decide on production volumes. Responses from the in-depth interviews were recorded, transcribed, and analyzed. The study results are summarized as follows: First, Korean clothing companies were found to rely on offshore outsourcing (China, North Korea, Vietnam, and Indonesia). Second, offshore outsourcing focused on the purposes for production; however, even fabrics were often outsourced in the case of production in China. Third, the interviewed firms mentioned cost savings, production cost reduction, and labor cost reduction most frequently as the main reasons for offshore outsourcing. Fourth, customs duties were considered most important in offshore outsourcing. Finally, when deciding on foreign manufacturers for offshore outsourcing, the surveyed clothing companies were found to: select manufacturers after market research in their outsourced countries, maintain existing contracts, or consider design capabilities and price quotations of candidate manufacturers.

• Journal of the Korean Society of Marine Environment & Safety
• /
• v.27 no.7
• /
• pp.1038-1043
• /
• 2021

Guaranteed seafarer wage payment is essential to ensure a stable supply of seafarers. However, disputes over non-payment of wages to seafarers often occur. In this study, an automatic wage payment system was designed using a blockchain-based smart contract to resolve the problem of seafarers' wage arrears. The designed system consists of an information register, a matching processing unit, a review rating management unit, and wage remittance before deploying smart contracts. The matching process was designed to send an automatic notification to seafarers and shipowners if the sum of the weight of the four variables, namely wages, ship type/fishery, position, and license, exceeded a pre-defined threshold. In addition, a review rating management system, based on a combination of mean and median, was presented to serve as a medium to mutually fulfill the normal working conditions. The smart contract automatically fulfills the labor contract between the parties without an intermediary. This system will naturally resolve problems such as fraudulent advance payment to seafarers, embezzlement by unregistered employment agencies, overdue wages, and forgery of seafarers' books. If this system design is commercialized and institutionally activated, it is expected that stable wages will be guaranteed to seafarers, and in turn, the difficulties in human resources supply will be solved. We plan to test it in a local environment for further developing this system.

• KDI Journal of Economic Policy
• /
• v.14 no.1
• /
• pp.191-212
• /
• 1992

This paper discusses the role of money in the process of capital accumulation where financial markets are impeded by contract enforcement problems in the context of overlapping generations framework. In particular, in less developed countries (LDCs) creditors may know little about the repayment capability of potential debtors due to incomplete information so that financial instruments other than money may not acceptable to them. In this paper the impediments to the operation of the private finanical markets are explicitly modelled. We argue that creditors cannot observe actual investment decisions made by the potential borrowers, and as a result, loan contracts may not be fully enforceable. Therefore, a laissez-faire regime may fail to provide the economy with the appropriate financial instruments. Under these circumstances, we introduce a government operated discount window (DW) that acts as an open market buyer of private debt. This theoretical structure represents the practice of governments of many LDCs to provide loans (typically at subsidized interest rates) to preferred borrowers either directly or indirectly through the commercial banking system. It is shown that the DW can substantially overcome impediments to trade which are caused by the credit market failure. An appropriate supply of the DW loan enables producers to purchase the resources they cannot obtain through direct transactions in the credit market. This result obtains even if the DW is subject to the same enforcement constraint that is responsible for the market failure. Thus, the DW intervention implies higher investment and output. However, the operation of the DW may cause inflation. Furthermore, the provision of cheap loans through the DW results in a worse income distribution. Therefore, there is room for welfare enhancing schemes that utilize the higher output to develop. We demonstrate that adequate lump sum taxes-cum-transfers along with the operation of the DW can support an allocation that is Pareto superior to the laissez-faire equilibrium allocation.

• Journal of the Korea Academia-Industrial cooperation Society
• /
• v.15 no.12
• /
• pp.7025-7039
• /
• 2014

Focal companies (hereafter called buyers) adopt outsourcing practices from a supply chain management strategy to be competitive. Buyers face the bridge transfer after outsourcing contracts, and the monitoring practices would be the only control mechanism left to prevent losing control over the suppliers. This study suggests the set of monitoring practices (i.e., capability, activity and outcome monitoring) as the independent variables to enhance the buyer-supplier collaboration and supplier's performance. In addition the buyer's efforts of monitoring are assumed to influence the buyer's shop floor productivity mediated by the supplier's performance and buyer-supplier collaboration. The results showed that the monitoring practices are meaningful antecedents to the supplier's performance and buyer-supplier collaboration, which fully mediates between the monitoring practices and buyer's shop floor productivity. The mediating role of the buyer-supplier collaboration between activity monitoring and shop floor productive has been rejected, because the negative effect of activity monitoring on buyer-supplier collaboration conflicts with the positive impact of buyer-supplier collaboration on shop floor productive. The theoretical contribution and managerial implications with limitations have been discussed.

• Journal of the Economic Geographical Society of Korea
• /
• v.16 no.3
• /
• pp.423-444
• /
• 2013

Tourism in Thoi Son Islet has been the advanced model for rural tourism in the Mekong Delta region since the 1990s. The continuously rising number of tourists, however, has also created problems that affect sustainable rural development. To understand these problems, this research analyzed how rural tourism has been operated through the methodology of a stakeholder network. After investigating the network among key stakeholders (Ho Chi Minh travel agencies (HCMTAs), local travel agencies (LTAs), and local residents, the result showed that in the current model, HCMTAs and LTAs have played the role of connectors, working as hubs to shift tourists (demand) to match local residents (supply), with the networking being dominated by signed contracts (formal networks). The networks between LTAs and local residents are both formal and informal. Inter- and intra-networks among local residents are dominated by informal networks of established working relationships based on networks of family, friends, and neighbors. Moreover, this research has found that there is no cooperating network among LTAs. Among owners of tourist sites was not also found cooperating network. The primary motivating factor for these stakeholders is price competition; this has led to a disproportionately small share of revenue for local stakeholders, with most tourism revenue going to HCMTAs. Additionally, because of the high competition among local stakeholders, this results in local stakeholders having little or no negotiating power when conducting business with HCMTAs. Meanwhile the Tien Giang Tourism Association is inefficient in fostering cooperation among local stakeholders to increase their negotiating power.

• Journal of the Korea Academia-Industrial cooperation Society
• /
• v.21 no.9
• /
• pp.584-595
• /
• 2020

This study relates to the effect from enforcement of regulations in 2014 against controlling shareholder expropriation in Korean corporations. The relationship change between related party transactions (RPTs) and the corporate values of listed Korean corporations is analyzed for the five-year period before and after enforcement of the regulations (2009-2013 and 2014-2018). Three types of RPTs regarding long-term supply contracts, loans, and credit were adopted for analysis. Following are the results of a regression analysis with panel data that consist of 6,534 firm-year observations. First shown is that the enforcement of regulations affects the relationship between RPTs and corporate value. Specifically, for all corporations, the result implies that the purpose of expropriation is weakened, and the efficiency and transparency of transactions in corporations are enhanced due to enforcement of the regulations. Secondly, the extent to which the regulations exert influence on designated and non-designated corporations differs. Regulation enforcement seems to be more influential on non-designated corporations than on designated ones for the efficiency and transparency of transactions in the long-term contract type of RPT.

• The Korean Journal of Food And Nutrition
• /
• v.20 no.2
• /
• pp.226-239
• /
• 2007

The purpose of this study was to identify the problems related to the purchasing processes of school foodservices that should be corrected for the food service safety, by examining the purchasing processes and the status of supplier selection. A questionnaire was given to 300 dietitians working at self-operated food services. Ninety-eight responses, excluding incomplete answers, were used for the statistical analysis. The survey consisted of three parts: the general characteristics of the school foodservice and dietitian, purchasing processes and supplier selection, and the purchase specifications. We found that 84% of the contract was made by informal purchasing, and the contract period was 6 months or one year. For supplier selection, problems related to the document screening systems were the superficiality of the content(45.7%) and the absence or lack of clarity of the appraisal criteria(34.8%). The important factors for the facility and equipment standards of suppliers were included unclear evaluation methods for content(41.1%) and inappropriate appraisal lists(21.1%), while unclear evaluation methods for content(41.9%) and absence or lack of clarity of the appraisal criteria(20.4%) were the problems pertaining to the supplier evaluation checklist. When using the Food Labeling Standards to select suppliers, confirmation of the sell-by date and the storage method had the highest score at 3.85 out of 5. For supplier selection, only 25% of the contract was made by using the purchase specifications. The levels of satisfaction of with Kimchi and rice cakes suppliers were significantly different according to employment type and educational background, respectively. Depending on working experiences, satisfaction was significantly different for the use of document screening, as a standard for the selection and management of suppliers, and for the facility and equipment standards of suppliers, The use of purchase specifications was different by employment type, while the use of purchase specifications for contracts was different by working experience. These results imply that the specialization of suppliers is necessary to unsure food safety. Therefore, the objective methods to evaluate the suppliers should be developed by the government, and appropriate education programs for dietitians should be prepared to enhance the utilization of purchase specifications.