• Journal of the Korean Institute of Gas
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• v.7 no.2 s.19
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• pp.14-21
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• 2003

Frequency analysis of city gas pipeline was studied and then the method to give frequencies of failure by the third-party digging, corrosion, ground movement, and equipment failure which were known to be the major cause of risk of city gas pipeline. The failure by the third-party digging was analyzed by fault tree analysis and the failure by corrosion was analyzed by applying equation calculating remaining strength with time. The failure by ground movement was evaluated by applying modified model which was induced through weighing factors with basic failure rate model. The failure rate of equipment was calculated with both generic and specific data

• The Journal of Asian Finance, Economics and Business
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• v.9 no.4
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• pp.287-298
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• 2022

Indonesia is an agrarian country with the significant development of Shariah banking. This study aimed to estimate the effect of Third Party Funds (TPF), Non-Performing Financing (NPF), Exchange Rates (ER), and Bank Indonesia Shariah Certificates (SBIS) on the Sharia Agriculture Sector Financing in Indonesia during 2014-2020. This study used the Ordinary Least Square (OLS) technique to analyze the data. The coefficient of determination test showed that 99.19% of Sharia financing in the agricultural sector was influenced by TPF, NPF, Exchange Rate, and SBIS variables. The estimation results showed that the variables of TPF and ER significantly affected Sharia Financing for Agricultural Sector (PP). Meanwhile, the NPF and SBIS variables had no significant effect on PP. This research showed the resilience and accuracy of Islamic banking in selecting financing and can support the development of other Islamic financial instruments such as SBIS. Simultaneous test results demonstrated the existence of the estimating model. Because of the character of the Indonesian nation as an agricultural country, this study advised Sharia banking to prioritize the usage of third-party funds from the public for the agricultural industry. Sharia banking also needed to produce Islamic finance products that fit the agriculture business sector's needs.

• The Korean Journal of Air & Space Law and Policy
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• v.29 no.2
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• pp.3-54
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• 2014

The Republic of Korea enacted the Air Transport Act in Commercial Law which was entered into force in November, 2011. The Air Transport Act in Korean Commercial Law was established to regulate domestic carriage by air and damages to the third party which occur within the territorial area caused by aircraft operations. There are some problems to be reformed in the Provisions of Korean Commercial Law for the aircraft operator's liability of compensation for damages to the third party caused by aircraft operation as follows. First, the aircraft operator's liability of compensation for damages needs to be improved because it is too low to compensate adequately to the third party damaged owing to the aircraft operation. Therefore, the standard of classifying per aircraft weight is required to be detailed from the current 4-tier into 10-tier and the total limited amount of liability is also in need of being increased to the maximum 7-hundred-million SDR. In addition, the limited amount of liability to the personal damage is necessary to be risen from the present 125,000 SDR to 625,000 SDR according to the recent rate of prices increase. This is the most desirable way to improve the current provisions given the ordinary insurance coverage per one aircraft accident and various specifications of recent aircraft in order to compensate the damaged appropriately. Second, the aircraft operator shall be liable without fault to damages caused by terrorism such as hijacking, attacking an aircraft and utilizing it as means of attack like the 9 11 disaster according to the present Air Transport Act in Korean Commercial Law. Some argue that it is too harsh to aircraft operators and irrational, but given they have also some legal duties of preventing terrorism and in respect of helping the third party damaged, it does not look too harsh or irrational. However, it should be amended into exempting aircraft operator's liability when the terrorism using of an aircraft by well-organized terrorists group happens like 9 11 disaster in view of balancing the interest between the aircraft operator and the third party damaged. Third, considering the large scale of the damage caused by the aircraft operation usually aircraft accident, it is likely that many people damaged can be faced with a financial crisis, and the provision of advance payment for air carrier's liability of compensation also needs to be applied to the case of aircraft operator's liability. Fourth, the aircraft operator now shall be liable to the damages which occur in land or water except air according to the current Air Transport Act of Korean Commercial Law. However, because the damages related to the aircraft operation in air caused by another aircraft operation are not different from those in land or water. Therefore, the term of 'on the surface' should be eliminated in the term of 'third parties on the surface' in order to make the damages by the aircraft operation in air caused by another aircraft operation compensable by Air Transport Act of Korean Commercial Law. It is desired that the Air Transport Act in Commercial Law including the clauses related to the aircraft operator's liability of compensation for damages to the third party be developed continually through the resolutions about its problems mentioned above for compensating the third party damaged appropriately and balancing the interest between the damaged and the aircraft operator.

• The Korean Journal of Air & Space Law and Policy
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• v.32 no.1
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• pp.385-417
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• 2017

Insurances of space activities are divided into satellite insurance, astronaut insurance and third party liability insurance. Against the background of the rapid development of space commercialization, especially the increasing participation of private entities in space affairs, the present international and domestic mechanisms of space insurance are challenged. As a space-faring state which is in the process of developing space businesses, the regulations of space insurance in China are deserved to be discussed. Satellites insurance is at present well-developed, the "pre-launch", "launch" and "in-orbit" phases of satellites are all possible to be insured by related companies. China created the CAIA in 1997 to provide insurance for Chinese satellites. However, with more private entities start to involve in space as well as satellite industry, the regime established under the framework of CAIA is necessary to be modified, and the mechanism relating to space insurance brokers should be promoted. The astronauts are recognized as the envoy of humankind, and relevant international regulations are made to provide assistance to them in emergency circumstances. From the domestic perspective, astronauts will be fully insured. China creates a particular type of insurance for astronauts. However, once space tourism becomes a business, the insurance of the tourist will be demanded to be created. In order to promote China's space tourism, it is recommended to take the "Astronaut Group Insurance" as an optional model to space tourists, if the tourists are customers of a governmental-owned space company. Once private involvement of providing orbital/suborbital tourism service becomes a reality, new rules are required. Getting a third party liability insurance is deemed as an indispensable precondition for an applicant to get a launch permission. Domestic space laws will include provisions for the third party liability insurance. China's "Interim Measures" of 2002 realizes the importance of third party liability insurance and requires the permit holder to get it before entering the launching site. This regulation is different from the practices of other states. Concerning that China is the sponsor of APSCO, for the purpose of promoting commercial space cooperation, a harmonized approach to domestic law is recommended to be found.

• The Journal of Information Systems
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• v.26 no.4
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• pp.247-284
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• 2017

Purpose The first purpose of this study is to investigate factors that are likely to influence user's intention to adopt third-party mobile payment platform. A comprehensive study about mobile payment services have used various variables to explain user's use intention based on the theory of reasoned action (TRA) or the theory of planned behavior (TPB). Variables such as simplicity, security, costs, relative advantage, individual mobility, subjective norm, trust, satisfaction, attitude towards use, perceived usefulness, perceived ease of use and so on. Among these factors, we expect to find out the most influential factors effecting user's use intention of the third-party mobile payment services. Second, we also examine whether the most influential factors have the same influence to different third-party mobile payment services by conducting comparative study of Alipay and WeChat Pay. Design/methodology/approach Empirical data for this study were collected from Chinese who has the experience using or have used Alipay or WeChat Pay. Participants needed to be familiar with Alipay or WeChat Pay because such users may be more aware of both the advantages and disadvantages of Alipay and WeChat Pay. We conduct a pilot test using Smart PLS 2.0, which includes 50 Alipay users and 82 WeChat Pay users. The result indicates that all the measurement fit for the context. And then 980 questionnaires were mainly sent out to the college students and the e-mails users randomly. To encourage participation, we give the participants a small gift as a present. Finally, we received a total of 683 replied. Data from respondents who gave incomplete or invalid answers were excluded to assure the validity of the constructs. 79 questionnaires were rejected, finally the valid data are 604 (with 372 Alipay users and 232 WeChat Pay users). Findings The results suggest that users' intention is determined by their trust on third-party mobile payment service and perceived usefulness of use. Comparative study results also indicated that the factors have different influence on Alipay group and WeChat Pay group, which offers a new aspect for academic field, and provides useful information to mobile payment service providers in China.

• Journal of Environmental Policy
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• v.8 no.4
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• pp.75-94
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• 2009

The process of obtaining third-party financing contacts was analyzed via a two-stage game model: a "signaling game" for the first stage,and a "principal-agent model" for the second stage. The two-stage game was solved by a process of backward induction. In the second stage game, the optimal effort level of the energy saving company (ESCO), the optimal compensation scheme of the energy user, and the optimal payoffs for both parties were derived for each subgame. The optimal solutions forthe different subgames were then compared with each other. Our main finding was that if there is some restriction on ESCO's revenue (e.g. a progressive sales tax) that causes ESCO's revenue toincrease at a decreasing rate, then the optimal sharing ratio is uniquely determined at a level of strictly less than one under a linear compensation scheme, i.e. a unique balance exists. Subgames have a unique equilibrium arrived at separately for each situation,. Within this equilibrium, energy users accept energy audit proposals from H-type ESCOs with high levels of technology, but reject proposals from L-type ESCOs with low levels of technology. While L-type ESCOs cannot attain profits in the third-party financing market, H-type ESCOS can pocket the price differential between L-type and H-type audit fees. Accordingly, revenues in an H-type ESCO equilibrium increase not only in line with the technology of the ESCO inquestion, but also faster than in an L-type equilibrium due to more advanced technology. At the same time, energy users receive some positive payoff by allowing ESCOs to perform third-party financing tasks within their existing energy system without incurring any extra costs.

• Journal of Korea Port Economic Association
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• v.25 no.3
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• pp.165-182
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• 2009

The purpose of this paper is to study on the third party logistics service enforcement of inland container depot at Pusan area. The main results of this paper are as follows: First, the inland container depot related to location selecting factor researches analyzed and korean TPL market reviewed. Second, the TPL service function reinforcement method and investments are mentioned. In detail the 9 factors are as follows: competitive high position and improvements of harbor back complex, ICD goods enterprise investment strategies, the harbor back which is inexpensive only the rent, taxes benefit and incentive, site security and base facility expansion, the goods service provision which is flexible, connection plan construction of goods enterprise, the incentive strategic establishment which is discriminated, the marketing activity which is long-term. and lastly the ICD and TPL Policy are needed that government and logistic enterprise's cooperation gains competitive advantage.

• Journal of Arbitration Studies
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• v.12 no.1
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• pp.55-88
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• 2002

Arbitration Act does not have express provision about voluntary agreement for the arbitration which third party, that is, the expert confirms factual bases of party's relationship of rights and duties, determines contents of the contract, and supplements or modifies contracts, and then the parties obey the expert's decision, but it is more probable that the parties can agree to this kind of arbitration agreement as long as they freely make a contract within the scope of law. However, there is a split of authority on the scope of such arbitration agreement. Some scholars argue that the parties can only agree on the extent of the expert's confirmation about factual situations of party's relationship of rights and duties or contents of the contract. On the other hand, the other scholars argue that the parties can consent not only the expert's confirmation about factual situations of party's relationship of rights and duties or contents of contract, but also the expert's supplement or modification of contents of contract. Due to the expert's decision has effect on both parties and judges who give a judgment as a matter of law, this kind of arbitration agrement can contribute to prevent litigation. Also arbitration relieves court's burden, if such arbitration agreement was done on the important disputes. Considering that the arbitration agreement can function as a dispute resolution or a dispute prevention, it is desirable that legislators make the provision about this kind of arbitration and allow the application of arbitration Act in such arbitration agreement. Most scholars agree that the voluntary agreement for the arbitration as to third party's supplement or modification of contents of the contract can be included in the concept of a substantive law. However, it has not been concluded whether the voluntary agreement for the arbitration which follows the expert's confirmation about factual situations of party's relationship of rights and duties or contents of the contract has the nature of substantive law or procedural law. The dispute about the nature of such arbitration agreement have some shortcomings in the effect of second kind of voluntary arbitration and the applicability of procedural principles. Therefore, it will be more adequate that the focus is given to the original function of this kind of arbitration agreement and the applicability of procedural principles (the neutrality of arbitrator, the assurance of hearing of the parties) rather than the dispute regarding the nature of this kind of arbitration agreement. Considering that more attention is given to the substitutive dispute resolution these days, the function of arbitration as prevention to the litigation and resolution before the litigation should be emphasized. To do this, a legal dispute about such arbitration agreement has to be resolved. More important issues in this kind of arbitration agreement are to retain of the neutral expert and to positively inform the benefits of this institution to the public.

• The Journal of the Korea Contents Association
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• v.15 no.9
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• pp.126-133
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• 2015

According to the traditional precedent, if a beneficiary who completed a provisional registration as a result of reservation of trade which is a fraudulent act, then assigned the right acquired by the provisional registration to the third party who has no information of the process, and let the third party complete an additional registration transfer the provisional registration, and if the third party completed the main registration on the foundation of the provisional registration, the beneficiary cannot be the other party of the litigation requesting for the cancellation of registration of the provisional registration. As the result, an apprehension that the duty to recovery of the beneficiary could easily be acquitted of a charge has existed. But, it is considered as desirable that the judicial decision judged that the court recognized the qualification of the defendant as appropriate at this case, with a different view from the precedent, and then the defendant can file the litigation against the beneficiary, requesting for cancellation of the reservation of trade which is a fraudulent act.

• The Korean Journal of Air & Space Law and Policy
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• v.22 no.2
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• pp.27-51
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• 2007

The cumulative result of the work by the ICAO Secretariat, the Secretariat Study Group and the Council Special Group on the Modernization of the Rome Convention of 1952 are two draft Conventions, namely: "Draft Convention on Compensation for Damage Caused by Aircraft to Third Parties, in case of Unlawful Interference", and "Draft Convention on Compensation for Damage Caused by Aircraft to Third Parties" The core provisions of the former draft Convention are as follows: The liability of the operator is strict, that is, without the necessity of proof of fault. It would be liable for damage sustained by third parties on condition only that the damage was caused by an aircraft in flight(Article 3). However, such liability is caped based on the weight of the aircraft(Article 4). It is envisaged to create an independent organization called the Supplementary Compensation Mechanism, with the principle purpose to pay compensation to persons suffering damage in the territory of a State Party, and to provide financial support(Article 8). Compensation shall be paid by the SCM to the extent that the total amount of damages exceeds the Article 4 limits(Article 19). The main issues on the farmer draft Convention are relating to breaking away from Montreal Convention 1999, no limits on individual claims but a global limitation on air carrier liability, insurance coverage, cap of operators' strict liability, and Supplementary Compensation Mechanism. The core provisions of the latter draft Convention are as follows: the liability of the operator is strict, up to a certain threshold tentatively set at 250,000 to 500,000 SDRs. Beyond that, the operator is liable for all damages unless it proves that such damage were not due to its negligence or that the damages were solely due to the negligence of another person(Article 3). The provisions relating to the SCM and compensation thereunder do not operate under this Convention, as the operator is potentially for the full amount of damages caused. The main issues on the latter draft Convention are relating to liability limit of operator, and definition of general risks. In conclusion, we urge ICAO to move forward expeditiously on the draft Convention to establish a third party liability and compensation system that can stand ready to protect both third party victims and the aviation industry before another 9/11-scale event occurs.