• Journal of Arbitration Studies
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• v.22 no.3
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• pp.119-139
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• 2012

In the case of Banque Paribas V. Banco Santander in England for the reimbursement request of deferred payment credit by the nominated bank, the L/C-issuing bank refused to pay the proceeds at maturity because of a fraudulent transaction. The reason of refusal was that the nominated bank, Banco Santander, had no right of payment in deferred credit before its maturity if it made payment of proceeds without notice to the issuing bank, that is, payment not based upon a credit transaction but on its own account. However, in the case of ADIB V. Fortis Bank in America, the New York court made the decision that the deferred payment bank could not refuse to reimburse to the nominated bank, Fortis Bank, because of fraud. Its decision was based on the UCP600. We have analyzed and investigated the above two cases-one was an English court's decision and the other an American's. The English court's decision was made under UCP500, but the American court's was made under UCP600, which was revised in 2007. As a result, we can expect that from now on in deferred payment credit transactions, the power of the nominated bank will be greater than before, but the issuing bank will bear the risk of the beneficiary's fraud, so the issuing bank will be hesitant to issue deferred payment credit. Notwithstanding, we thought that the New York court decision would come into effect in the activation of deferred payment credit in practical trade transactions.

• Journal of Arbitration Studies
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• v.14 no.1
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• pp.133-156
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• 2004

The rapid development of the internet may not have occurred without techniques of linking and framing, which provide users flexible and easy access to other website. These techniques have enabled internet users to navigate the internet efficiently and sort through the products, services and information available on the internet. The Advent of the global information structure and the do-called EC revolution raise countless new issues and questions. There are no limitations regulating the expressions on the cyberspace due to internet's of quality anonymity? diversity? spontaneity. Therefore, the freedom of speech is expanded in both areas of time and space, which was impossible with the old communicating system. Although online technology raises many new legal issues, the law available to help us resolve them, at least today, is largely based on the world as it existed before online commerce became a reality. Thus the challenge is to predict how these new legal issues may be resolved using the current law. As a result of the drastic change of the environment for international trade of which that has taken took place in parallel with the global information technology revolution on a global basis, the scope of issues to be addressed which should be resolved by the conflict of laws principles has been remarkably expanded, and various new issues of an entirely which are quite new in its type and nature have arisen been raised. Further more in addition, the old act prior act was regarded as insufficient in that it lacked rules on international governing law to adjudicate, or international adjudicatory governing law, where as the expectation of the public was that the private international law should function as the basic law of the legal relational encompassing rules on governing law given the increase of It international disputes. for the move the private international law has also attracted more attention from the korean.

• Journal of Arbitration Studies
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• v.29 no.2
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• pp.35-63
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• 2019

Since imposing Performance Requirements (PRs) on investors have been conducted as a means to protect a host state's domestic industry in the short run, with its effect on improving the international balance of payments, it has been implemented mostly in developing countries. From the viewpoint of investors, however, PRs hinder free competition and investment activities and have the effect of distorting international trade activities; therefore, they are expected to bring detrimental effects on the host state's economic development in the long run. PRs provided by International Investment Agreements (IIAs) and WTO-TRIMs, too, included many abstract regulations which are grounded on the host state's economic efficiency in the past; however, those PRs are gradually being more concretely specified, shifting to a form of prohibition with the goals of increasing the protection on investors and realizing investment liberalization. Accordingly, when Korea freshly concludes IIAs or revises them afterwards, one should focus more on following the points regarding PRs. First, to protect Korean companies' investment activities, it is advantageous to list the contents of prohibited PRs extensively and concretely and create a stipulation. Second, it is necessary to list the contents of the PRs prohibited and add the phrases for prohibiting "any other similar requirements" explicitly, as well so as to cover the PRs that can appear newly. Third, as in the cases associated with PRs, issuable matters are mostly either the range of applying PRs or the conditions of applying them (relevance or detrimental effects); therefore, it is necessary to classify the cases accumulated by issues and analyze them thoroughly. In conclusion, as this study has analyzed the theoretical characteristics of PRs provided in IIAs and related cases and suggests exquisite theory regarding PRs, it not only lays fundamental grounds for follow-up research but also gives useful and practical guidelines for the parties concerned and the arbitrators according to the ISDS procedure.

• Journal of Arbitration Studies
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• v.16 no.1
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• pp.253-275
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• 2006

Ever since the open and reform policy in 1987, China has adopted the socialistic market economy system and has been moving forward in economic reform. This gradually expanded their market economy. The open and reform policy achieved the highest average annual GDP growth rate of 9% and helped the country maintain high growth. China's economic growth in recent years has a lot to do with the international trading and direct investment by foreign corporations. China's entry into the WTO dramatically increased their amount of capital and investments due to their aggressive investments with foreign corporations. It is quite amazing that investments in China has been constantly increasing while the direct investments worldwide is decreasing. Moreover, increase in such investments is contributing to China's job creation, as well as, the expansion of international trading. When international economic exchange started between Japan and China in the 1970s, it was in the form of aid for developing countries, hence the collection of the investment was out of the question. It was in the 1990s that Japan started the full-scale investments with China and it was mostly centered in transfer of the production base. Japanese corporations aim was to mass produce goods less expensively using abundant and cheap labor and to sell them to Japan and other countries. The amount of Japan's exports and imports compared with China is increasing every year but the trade deficit has gone into the red. The dollar amount has been decreased from $ 27 billion in 2001 to $ 18 billion in 2003. The problems and damages in the system of justice and administrative confrontation that Japanese corporations are facing are continuously at a stand-still even after China's entry into the WTO. It has been 20 years since Japan's advance in China and during that period, the Japanese corporations brought many changes ranging from exports/imports to direct investment. Although Japan's new corporations tend to be located in the mid-western part of China, rather than the coastal areas, the region itself is not the cause for the confrontation. The problem stems from the Japanese treating the Chinese as if they were Japanese because they look similar due to their Asian ancestry. In reality the Chinese have completely different ways of doing business. Here we will take a look at the international trading and direct investment of Japanese corporations in China and study the conflicts that occurred in business transactions with China through real examples.

• Journal of the Korea Institute of Information and Communication Engineering
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• v.22 no.9
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• pp.1147-1152
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• 2018

In the recent, Chinese insurance market has taken a introduction of InsurTech. It is a combination of insurance and fintech. This means that the policyholder design their own insurance and take out the policy on-line without insurance planner. This trend is remarkable issue. Growth rate of InsurTech in China have significantly been growing. In addition, Chinese insurance market has kept generally stable and fast growth rate, although Chinese forecasting economic growth is subject to massive uncertainties. Nevertheless, the increase in the number of Korean insurance companies fails to settle into Chinese insurance market due to lack of awareness about newness of Chinese insurance market. Moreover, Korean insurance company in China or planning to enter are not prepared for InsurTech yet. Chinese insurance market is valuable for Korean insurance companies. This paper suggests implications of re-entry into Chinese insurance market to Korean insurance companies by analyzing policies which could make environment to endorse Chinese insurtech and case of Chinese insurtech companies.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.26
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• pp.35-86
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• 2005

International distributorship contract(IDC), as well as international agency contract is a type of contract which is most frequently used in international trade. But one of the main difficulties faced by parties of IDC is the lack of uniform rules for this type of contract. This means that both parties should be careful about each clause of the contract when they draw up it. The ICC prepared model form which incorporates the prevailing practice in international trade, and which aims at protecting and balancing the legitimate interests of both parties. This author examined the several important clauses in this model contract. The purpose of this examination is to help the contracting parties for better understanding and applying them in their actual contracting practice, which based on this model contract. When the supplier and the distributor execute their contract or use ICC Model Contract, they should be careful about the following points: First, some terminologies(like, "territory", "product", "competing products" and "exclusivity") should be clearly defined in their contract. Second, regarding the supplier's functions including "supplying products" and the distributor's responsibility including "undertaking not to compete", and "attaining guaranteed minimum targets", both parties should make clear about each party's right and obligation as well as one party's remedies available when other party makes breach of its obligation. Third, both parties should examine the relationship between the "exclusivity" or "sole" and competition law which is regarded as a mandatory rule in the territory. Forth, when both parties lay down "termination clause" in the contract, they should make clear about the indemnity in case of termination. Fifth, as there is not uniform law for the distributorship contract, it is inevitable to choose any local law as an applicable law in case of litigation. So both parties should keep in mind to insert arbitration clause to avoid the application of the local law. Besides, both parties should consider their individual and specific circumstances and try to reflect them in their contract by Annex I to XI attached to the end of model contract.

• Journal of the Korea Institute of Information and Communication Engineering
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• v.23 no.7
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• pp.881-888
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• 2019

Dangerous cargo in maritime transportation is increasing in international trade. The types and forms of dangerous cargo are very diverse, complex, and the scope is expanding widely. For this reason, it is increase risk of accident threatens the safety of ships and other cargoes, as well as serious damage. Carriers' require special care and handling of dangerous cargo and have a duty of care for safe transport. The shipper is obliged to notify the carrier of the nature and characteristics of the dangerous cargo prior to loading on the ship, the responsibility of the carrier varies depending on the notification or not. This study compares and analyzes the concept and classification of dangerous cargoes, the provisions of the Hague rules, Hamburg Rules and Rotterdam Rules about Carriers' Dangerous Cargo Liability Regulations, after reviewing case studies. We intend to provide information to dangerous cargo handling, the carrier.

• Korea Trade Review
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• v.41 no.4
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• pp.21-40
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• 2016

This study mainly deals with a recent case held as to the formation of contract under the United Nations Convention on International Sale of Goods(CISG). In order to analyse the fact of the case and the justification of its holdings, it examines the rules on the formation of contract under the CISG, focusing on the requirements of offer and acceptance, the time when such offer and acceptance become effective, the issues on the battle of forms. In addition to these, it particularly investigates the rules on a delayed acceptance under the CISG. After looking into those rules, it criticizes the holdings and provides legal and practical advice to contracting parties who intend to conclude a contract under the CISG as a governing law. It finds that whose e-mail in the case amounts to an offer and an acceptance is depended upon the interpretation of intention of the parties expressed in their statement. According to such interpretation, even if a purchase order is requested by the seller for the formation of contract, a contract may be concluded by a simple statement which commits the buyer himself to purchase the seller's goods. This is particularly the case where such request is made only to clarify the buyer's intention to purchase them.

• Journal of Arbitration Studies
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• v.18 no.2
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• pp.201-233
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• 2008

러시아와 한국간의 공식적인 접촉은 1990년 6월 샌프란시스코에서 개최된 정상회담이다. 동년 9월 뉴욕에서 개최된 양국의 외무장관 회담에서 러시아와 한국의 외교관계가 수립되었다. 그간 양국간에는 협정을 통한 협력의 법적기반이 조성되었는데 주요 분야를 보면 무역, 투자보장, 어업, 이중과세방지, 군사기술분야, 원자력의 평화적 이용, 문화교류에 관한 협정들이 있다. 역시 양국간의 주요 관심사항은 무역과 경제협력 분야이다. 2007년도 러시아와 한국의 무역액은 150억 달러를 초과함으로써 전년도에 비해 55.5% 증가하였다. 러시아의 한국으로의 수출은 약 70억 달러로서 전년도에 비해 52.6% 증가했고 한국으로부터의 수입은 80억 달러를 초과함으로써 전년도에 비해 56.1% 증가하였다. 그리하여 러시아는 한국의 10대 교역국으로 성장하였다. 가스와 오일 프로젝트 추진과 관련하여 사할린지역에서 사용하기 위해 한국으로부터 수입하는 드릴기계장비, 탱커, 자동차, 휴대전화는 한국과 러시아 양국간 경제성장의 주요요인이 되고 있다. 2008년 1/4 분기 양국간 무역액은 42억 달러를 초과했는데 이는 전년도 동기와 비교해서 72.1% 증가한 것이다. 이 중 한국에의 수출은 17억 달러를 초과했는데 이는 전년도 1/4분기에 비해 91.7% 성장한 것이다. 한국으로부터의 수입은 약 25억 달러로서 전년도 1/4 분기와 대비해서 60.6% 성장했다. 러시아와 한국간의 경제교류가 크게 증대하게 된 배경에는 러-한경제과학기술협력공동위원회가 큰 역할을 담당했다. 이 논문에서 필자는 무역과 투자측면에서 본 양국간 경제협력의 특징을 고찰하는 한편 러시아의 동부지역(러시아 극동 및 바이칼횡단지역)과 한국과의 협력과 관련된 역동성과 과제를 제시하는데 연구의 목적을 두었다. 한국은 외국기업과 함께 러시아 극동지역의 무역과 경제협력 증진에 상당한 공헌을 함으로써 러시아 극동경제권에서 주요 무역파트너가 되고 있다. 또한 본 연구에서는 한국과 러시아간의 주요 협력프로젝트에 관하여 고찰하는 한편 앞으로의 전망을 제시하였다. 이 문제는 무엇보다도 한-러간의 공동 에너지프로젝트 및 에너지자원의 무역과 관련되어 있다. 한국과 러시아는 이미 많은 분야에서 상당한 정도로 상호 협력관계를 발전시켜왔다. 여기에는 정책, 에너지, 경제, 문화, 과학기술 분야가 포함되어 있다. 현재 러시아와 한국간에는 에너지 분야에서의 전략적 대화채널 구축에 관한 문제와 함께 연료 및 에너지공단 건설과 관련하여 협력문제가 논의되고 있다. 에너지 분야에서의 전략적 대화개념 구축을 위해서는 전략, 예측 및 투자환경의 문제가 양국간에 집중논의 되어야 하고 법제상의 조화문제도 논의되어야 한다.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.62
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• pp.113-132
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• 2014

Judicial decisions make it clear that in all CIF, CFR and FOB contracts, incorporation of charter party into sale contracts is the only effective way for recovery of demurrage in the context of sale contracts. The case law would appear to clarify a number of important issues: The words of incorporation in the sale contract play a vital role in determining the extent of the influence of the charter party principles over the sale contract. Hence, unless it is expressly provided otherwise, the courts tend to apply the charter party principles to the incorporated charter party provisions to the extent that they make sense in the context of sale contract, and that they do not undermine the underlying foundations of international trade law. In this respect the courts also take into account the factual background of the case with a view to objectively ascertaining the intention of the parties. The law is, however, less clear on the effects of the incorporated charter party provisions in sale contracts. There is still no straightforward answer to the question of to what extent the charter party law is applied to the incorporated charter party provisions in the context of sale contracts. The case law on this matter merely provides piecemeal solutions, and it is not possible to extract a general rule which will help interpretation of those charter party provisions which have not yet been subject to litigation or arbitration. Therefore, it should be noted that the parties would prepare Incorporation Clause in their sale contracts in reliance of the rules to achieve the desired results.