• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.47
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• pp.157-182
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• 2010

A counter-guarantee is an independent undertaking and it functions in the same way as an ordinary independent guarantee. However, the typical notion of independence which applies to the relationship between the guarantee and the underlying contract cannot be exactly transposed to the relationship between the counter-guarantee and the primary guarantee, because the primary guarantor bears its duties that derive from the mandate. In this respect, this study reviews, with some critics, a Korean appellate court's decision and argues that, in spite of the principle of independence between the counter-guarantee and the primary guarantee, the primary guarantor may not be entitled to reimbursement from the counter-guarantor, if it is objectively evident that the primary guarantor has failed to perform its duty of verifying compliance under the primary guarantor or if it is objectively evident that the primary guarantor knows that it is objectively evident that there was fraudulent calling by the beneficiary under the primary guarantee.

• Korean Management Science Review
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• v.30 no.1
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• pp.43-58
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• 2013

Although analysis of charts, which used in stock trading by distinguishing standardized patterns in the movements of stock prices, is simple and easy to use, there can be problems stemming from specific patterns being distinguished as a result of the subjective perspectives of analysts. In accordance with such problems, through the method of template pattern matching, 4 trend reversal patterns were designed and the fitness of the patterns were quantitatively measured. In cases when a stock is purchased when the template pattern fitness value is within a certain range and held for at least 20-days, the average return ratio was analyzed to be higher-with the difference being statistically significant-than the average return ratio attained from trading a stock according to the same method per the Efficient Market Hypothesis. From the results of stock trades of 2 domestic corporations to which the values of the 4 patterns had been applied based on the 4 strategies, it was possible to ascertain differences in the strategy- and pattern-dependent return ratios. Through this study, along with presenting the exceptions for the Efficient Market Hypothesis in stock trading, the fitness level of quantitative chart patterns was measured and the theoretical basis for application of such fitness level was proposed.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.11
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• pp.45-53
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• 2020

Past literatures have not studied the impact of real-world events or information on the return and volatility of virtual currencies, particularly on the COVID-19 event, day-of-the-week effect, daily high-low price spreads and information flow rate. The study uses the ARMA-GARCH model to capture Bitcoin's return and conditional volatility, and explores the impact of information flow rate on conditional volatility in the Bitcoin market based on the Mixture Distribution Hypothesis (Clark, 1973). There were 3,064 samples collected during the period from 1^st of January 2012 to 20^th April, 2020. Empirical results show that in the Bitcoin market, a daily high-low price spread has a significant inverse relationship for daily return, and information flow rate has a significant positive relationship for condition volatility. The study supports a significant negative relationship between information asymmetry and daily return, and there is a significant positive relationship between daily trading volume and condition volatility. When Bitcoin trades on Saturday & Sunday, there is a significant reverse relationship for conditional volatility and there exists a day-of-the-week volatility effect. Under the impact of COVID-19 event, Bitcoin's condition volatility has increased significantly, indicating the risk of price changes. Finally, the Bitcoin's return has no impact on COVID-19 events and holidays (Saturday & Sunday).

• Journal of Arbitration Studies
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• v.14 no.1
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• pp.185-211
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• 2004

It is a common and prevailing Construction that recent environmental problems such as earth's warmer climate and depletion of ozone layers can never be solved by the efforts of any one nation. That is why the international conventions have been held more often lately in order to discuss the matter of environment protection and there has been increased tendency of using economic activities of any nation especially their international trades as means for achieving the purpose of environment protection. Furthermore, there is an ample possibility for the advanced countries to use the regulatory restrictions for environment protection as an another measure of none-tariff barrier against countries including Korea which has high dependence on international trade with not very high technological capability of environment protection. Some of the developed countries have recently moved toward the creation of a new system of international regulatory measures on world trade in the name of Environment Protection. They Plan to impose strict control over the process and technology of production of good they are importing from other country. However, ever though the international regulatory measures, in a short term, could play a negative role on our trade capability, they could, in the long run, also play a role of helping hands if we usefully work out positive countermeasures as a result of hand-working government supported by industry and all the society as a whole.

• Journal of the Korean Society of Safety
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• v.24 no.6
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• pp.111-118
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• 2009

As the construction project gets bigger in scale, the actual construction itself is becoming more complex. The construction accidents occupy 26.18 percent of total death disaster according to the accidents report in 2007. It is the highest figure among the entire industry, and it shows how serious the construction accident is. In order to reduce accidents occurred in the construction industry, we should find the accident characteristics of construction workers by age. In this study, we investigated 589 cases of fatal accidents, and classified them by trades, type of works, the things that caused the accident, how they occurred, and size. We then identified accident characteristics for each group by analysing them in accordance with workers age. The result of analysis showed that in carpenter and common laborer, the number of death accidents increased as the workers age increased. Another characteristics were that the number of death accidents increased as the age increased in finishing work and reinforced concrete construction and in a smaller-scale businesses, respectively. Common labor was the trade with the highest number of death accidents and the laborers of 50 age or higher in age in finishing working type were the most vulnerable to death accidents.

• KIEAE Journal
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• v.3 no.3
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• pp.67-74
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• 2003

The repair and maintenance planning is the principal transaction to prevent from the degradation of apartment buildings to prolong their lives. Various building components as part of living area should be maintained properly and timely before critical defects are realized, then the building life might be extended until the limit of its usability. In other words, various building components such as utilities, finishes and structural members are needed to be repaired and replaced in different time interval after completion. To do this systematically, a maintenance management system for Long-Range Planning (LRP) needs developing. The LRP should be figured out based on the forecast of repairing and replacing cycle of building components according to work trades. And the precise forecast of repairing and replacing time of the components helps to enhance the usability of the developed system. The purpose of this paper is to suggest a system with which apartment building managers carry out the tasks of periodical check, diagnosis and replacement of building components based on the maintenance calendar. By using the system, they can easily forecast repairing and replacing time of the components with the consideration of life cycle of building materials and build the LRP.

• Journal of Korea Port Economic Association
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• v.19 no.1
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• pp.23-41
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• 2003

The purpose of this paper is to analyze the gravitation of ship's cargo tons of arriving and leaving port of Busan based on the gravity model empirically and experimentally and to suggest possible ways to expand the trade quantities(cargo tons) by identifying important factors determining the port of Busan's bilateral trade flows with foreign countries by using the 1995, and 2001 data. In this paper, new independent variables, such as land, populations, and the APEC and ASEAN memberships, and new dependent variable, such as the ship's cargo tons of arrival and leaving port of Busan were used for expanding the previous studies. Empirical analysis found that the port of Busan tends to trade more with countries in close proximity and the large size of economies. The fact that the port of Busan's trades more with APEC countries than with non-APEC countries is a clear empirical evidence of the growing importance of the regional trade agreement and strategic alliance with the ports of these member countries. The main policy implication based on the findings of this study is that GDP, distance, adjacency, and APEC membership which were the affecting variables to the bilateral trade with the port of Busan should be closely investigated for enhancing the trade quantities with those foreign countries.

• Journal of Arbitration Studies
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• v.26 no.3
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• pp.3-26
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• 2016

The preferential Rules of Origin (RoO) govern tariff preferences that are given in accordance with the FTA. However, relatively few studies have been devoted to the procedures in settling disputes that are relevant to RoO under the FTA. This study is a first attempt at analyzing the applicability and the potential improvement in dispute settlement procedures in FTAs targeted at the preferential RoO. By exploring three dispute cases involving the preferential RoO, it is suggested that restrictiveness, complexity, and uncertainty that are inherent in the preferential RoO may trigger political tension and dispute. Forming a panel that is capable of mitigating political tension, facilitating participation and early cooperation of experts and stakeholders, and establishing a well-structured enforcement procedure are essential in dispute settlement procedures to resolve disputes involving cases on RoO. Furthermore, the current dispute settlement procedure that hinders the private sector's access should be changed to one that is more open to private sector entities, such as companies, to facilitate the enforcement of the decision. Given that more improved FTA dispute settlement procedure may guarantee the enforcement and application of the FTA preferential treatment in relation with more politically powerful states and foster genuine free trades, more in-depth studies must be conducted on this topic.

• Journal of Communications and Networks
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• v.14 no.1
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• pp.75-90
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• 2012

Thin client computing trades local processing for network bandwidth consumption by offloading application logic to remote servers. User input and display updates are exchanged between client and server through a thin client protocol. On wireless devices, the thin client protocol traffic can lead to a significantly higher power consumption of the radio interface. In this article, a cross-layer framework is presented that transitions the wireless network interface card (WNIC) to the energy-conserving sleep mode when no traffic from the server is expected. The approach is validated for different wireless channel conditions, such as path loss and available bandwidth, as well as for different network roundtrip time values. Using this cross-layer algorithm for sample scenario with a remote text editor, and through experiments based on actual user traces, a reduction of the WNIC energy consumption of up to 36.82% is obtained, without degrading the application's reactivity.

• The Korean Journal of Food And Nutrition
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• v.28 no.2
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• pp.202-218
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• 2015

Many countries have introduced new imported food safety measures, following the accident at Fukushima Daiichi Nuclear Power Station. This study was conducted to evaluate the measures contents and effects on food trades values. Eight percent of members were notified the introduced measures to the World Trade Organization. The measures' contents were banning imports, enhancing inspection and adding certification requirement. The covered regions were some prefectures, entire Japan or all affected countries. European Union introduced a measure that subjecting foods originating from 12 prefectures to import at designated ports with required certification. The measures were amended 8 times until March 2014 to apply listed foods from 15 prefectures. The trade value of fishery products and miscellaneous foods were affected. Australia introduced a measure that required additional inspection of dairy, fishery and plants products from 13 prefectures with subsequent amendments. The trade value had no effect in tested foods. Chinese Taipei introduced a temporary import ban for all foods from 6 prefectures. Trade values for fruits were affected. The United States issued an import alert for detention without examination for listed prefectures and goods without introducing new measures. Although no specific products were affected, trade values for all foods were affected.