• Journal of Arbitration Studies
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• v.15 no.2
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• pp.61-91
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• 2005

It is well recognized that the availability of prompt, effective and economical means of dispute resolution is an important element in the orderly growth and encouragement of international trade and investment. Increasingly, ADR(Alternative Dispute Resolution) including arbitration and mediation, instead of litigation in national courts, has become the preferred means of resolving private international commercial disputes. Under the situation, efforts for settlement of trade and investment disputes by ADR have been made between Korea and China through trade and investment agreements and arbitration agreement. Judging from the importance of economic exchange between Korea and Qingdao including Shandong Province, The Korean Commercial Arbitration Board(KCAB) and The Qingdao Arbitration Commission(QAC) should strengthen mutual cooperation to develop efficient methods of resolving commercial disputes arising between the two countries and to assist parties in solving those disputes through conclusion of arbitral agreement. Recently, efforts for conclusion of a Korea-China-Japan Free Trade Agreement(FTA) received strong support at Korea-Japan and Korea-China Summit Meeting held on June and July, 2003 respectively. If the conclusion of FTA among the three countries would be realized, it would promote regional trade and investment, contributing to economic growth in the Northeast Asian region. Under the circumstances, the key arbitral institutions including KCAB and QAC should consider to take the initiative in setting up tentatively called ${\ulcorner}$Joint Arbitration Center for Northeast Asia${\lrcorner}$ for which the CAMCA of NAFTA will be the good example.

• The Korean Journal of Applied Statistics
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• v.21 no.5
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• pp.775-781
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• 2008

The purpose of this paper is to analyse the key factors influencing the life insurance companies's competitiveness. Various performance variables differentiate this paper other existing studies employing a single performance variable. The business activity is divided into two categories, the underwriting activity and the investment activity. Each activity produces two performance, cost and profit performance. This study analyses the factors influencing four performance variables and suggests implications enforcing the life insurance companies' competitiveness based on the analysis. The results of this study are summarized as follows. Firstly, we find a statistically significant correlation between the cost performance in the under-writing activity and other performance variables. However, there in not a statistically significant correlation between the other three performance variables, the cost performance in the investment activity, the profit performance in the under-writing activity. Secondly, it is desirable to increase the selling of protection products for enforcing the competitiveness in respect of the cost performance. Finally, it is needed to increase the ratio of loans for enforcing the competitiveness in the area of the investment activity.

• Environmental and Resource Economics Review
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• v.24 no.4
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• pp.607-627
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• 2015

As observed and experienced in EU ETS, allowance price volatility is one of major concerns in decision making process for $CO_2$ abatement investment. The problem of linearly non-separable profits functions could emerge when one power company holds several power plants with different technology specifications. Under this circumstance, conventional analytical solution for investment option is no longer available, thereby calling for the development of numerical analysis. This paper attempts to develop a Monte-Carlo least squares model to analyze investment options for power companies under emission trading scheme regulations. Stochastic allowance price is considered, and simulation is performed to verify model performance.

• Korea Trade Review
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• v.44 no.2
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• pp.95-107
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• 2019

The ICSID arbitral tribunal shall determine the suitability of investors in accordance with the Article 25 of the ICSID convention and the investment or investor's provisions under the BIT. The eligibility of investors has an important role in establishing jurisdiction under international investment disputes. Therefore, this study draws implications on issues related to investor qualification, focusing on ICSID arbitration. The investor's nationality shall be taken into consideration in determining whether the investor is eligible. The criteria for determining the nationality of a corporate investor include the place of incorporation, main business location, and substantial ownership or control. The criterion of the place of incorporation that is used in a number of BIT have the problem of protecting investors from third countries not involved in the BIT. So, in recent years it is stipulated that the actual economic activity or the main business location as well as the place of incorporation criteria. And this problem is complemented by the denial of benefit clause. When determining whether a local corporation is controlled by foreigner in the host state it considers the shareholding rate, voting rights, and the exercise of managerial rights. There is a tendency to recognize shareholder's right to petition. Thus the same damage should not cause problems such as duplicate repayment or double reimbursement between the shareholders and the company. Unexpected problems can arise if the scope of investments and investors is broadly specified in the BIT. Therefore, it is necessary to clarify the scope of investment to be protected.

• Korean System Dynamics Review
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• v.2 no.2
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• pp.25-40
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• 2001

This paper describes the forecast of power plant construction in a competitive korean electricity market. In Korea, KEPCO (Korea Electric Power Corporation, fully controlled by government) was responsible for from the production of the electricity to the sale of electricity to customer. However, the generation part is separated from KEPCO and six generation companies were established for whole sale competition from April 1st, 2001. The generation companies consist of five fossil power companies and one nuclear power company in Korea at present time. Fossil power companies are scheduled to be sold to private companies including foreign investors. Nuclear power company is owned and controlled by government. The competition in generation market will start from 2003. ISO (Independence System Operator will purchase the electricity from the power exchange market. The market price is determined by the SMP(System Marginal Price) which is decided by the balance between demand and supply of electricity in power exchange market. Under this uncertain circumstance, the energy policy planners such as government are interested to the construction of the power plant in the future. These interests are accelerated due to the recent shortage of electricity supply in California. In the competitive market, investors are no longer interested in the investment for the capital intensive, long lead time generating technologies such as nuclear and coal plants. Large unclear and coal plants were no longer the top choices. Instead, investors in the competitive market are interested in smaller, more efficient, cheaper, cleaner technologies such as CCGT(Combined Cycle Gas Turbine). Electricity is treated as commodity in the competitive market. The investors behavior in the commodity market shows that the new investment decision is made when the market price exceeds the sum of capital cost and variable cost of the new facility and the existing facility utilization depends on the marginal cost of the facility. This investors behavior can be applied to the new investments for the power plant. Under these postulations, there is the potential for power plant construction to appear in waves causing alternating periods of over and under supply of electricity like commodity production or real estate production. A computer model was developed to sturdy the possibility that construction will appear in waves of boom and bust in Korean electricity market. This model was constructed using System Dynamics method pioneered by Forrester(MIT, 1961) and explained in recent text by Sternman (Business Dynamics, MIT, 2000) and the recent work by Andrew Ford(Energy Policy, 1999). This model was designed based on the Energy Policy results(Ford, 1999) with parameters for loads and resources in Korea. This Korea Market Model was developed and tested in a small scale project to demonstrate the usefulness of the System Dynamics approach. Korea electricity market is isolated and not allowed to import electricity from outsides. In this model, the base load such as unclear and large coal power plant are assumed to be user specified investment and only CCGT is selected for new investment by investors in the market. This model may be used to learn if government investment in new unclear plants could compensate for the unstable actions of private developers. This model can be used to test the policy focused on the role of unclear investments over time. This model also can be used to test whether the future power plant construction can meet the government targets for the mix of generating resources and to test whether to maintain stable price in the spot market.

• The Transactions of The Korean Institute of Electrical Engineers
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• v.56 no.10
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• pp.1731-1737
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• 2007

The Korea electricity wholesale market is operated under the cost-based-pool system and the government regulation to the new generation capacities in order to insure the resource adequacy. The goal of government's regulation is the electricity market stability by attracting proper generation investment while keeping the reliability of system. Generation companies must mandatory observe that government plan by now. But if the restructuring is to be complete, generation companies should not bear any obligation to invest unless their profitability is guaranteed. Namely the investors' behavior will be affected by the market prices. In this paper, the system dynamics model for Korea wholesale electricity market to examine whether competitive market can help to stabilize is developed and analyzes the investors behavior. The simulation results show that market controlled by government will be operated stable without resulting in price spike but there is no lower price because of maintaining the reasonable reserve margin. However, if the competition is introduced and the new investment is determined by the investor's decision without government intervention, the benefits from lower wholesale price are expected. Nevertheless, the volatility in the wholesale market increases, which increases the investment risks.

• East Asian Journal of Business Economics (EAJBE)
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• v.3 no.1
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• pp.8-16
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• 2015

In the later quarter of the twentieth century, the need for foreign capital is realized among the various countries of the world. Developing countries especially developed multi-pronged strategies to attract foreign capital into the country. One such strategy is the adoption of liberalization policy. Almost all the developing countries started opening their economy, out of the compulsion, to achieve faster rate of economic growth and development. Even a communist country like China adopted liberalization policy as a strategy for accelerated economic growth during 1979. India also joined the race by 1991, when the government announced the policy of liberalization. The importance of FDI extends beyond the financial capital that flows into the country. The huge size of the market in this sector and high returns on investment are two important factors in boosting FDI inflows to power sector. 100 percent FDI is allowed under automatic route in almost all the sub sectors of power sector except the atomic energy. Major foreign investment is made in this sector during 2000 to 2009 is Mauritius with an investment of US$ 4490.96 i.e., 4.24 percent of the total FDI inflows into the country during the period. The estimation of future FDI flow shows a marginal decline in the year 2010. Then from 2011 to 2015 onwards upward trend of FDI was observed.

• The Transactions of the Korean Institute of Electrical Engineers A
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• v.54 no.4
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• pp.177-184
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• 2005

This paper proposes a improved investment priority decision method of the facilities considering the reliability of distribution networks. The proposed method decides a investment order of the facilities combining, by fuzzy rules, the investment priority decision of KEPCO and the priority decision considering reliability evaluation indices. Where reliability evaluation indices are SAIFI(System Average Interruption Frequency Index) and SAIDI(System Average Interruption Duration Index), as referred to evaluation index for sustained interruption. The reliability analysis method of distribution networks applied in this paper utilizes analytic method, where the used reliability data is historical data of KEPCO. Particularly, we assumed that the failure rate increased as the equipment ages. To verify the performance of the proposed method, we applied it with the planned projects to reinforce the weak facility electrical facilities in KEPCO in 2004. The evaluation result showed that, under a limited budget, the reliability of the KEPCO in the Busan region using the proposed method can be enhanced than using the conventional KEPCO's method. Therefore, the results verify the proposed method can be efficiently used in the actual priorities method for investing the electrical facilities.

• Journal of the Korean Society of Industry Convergence
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• v.22 no.6
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• pp.729-737
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• 2019

The world is now going through the era of the Fourth Industrial Revolution. Major global economies, including the United States, Germany, Japan and China, are fostering industries related to the fourth industrial revolution with policies and investments. South Korea is also setting up its fourth industrial revolution committee under the president, expanding policies and investment to foster industries related to the fourth industrial revolution, and increasing investment in research and development. Accordingly, government and private investment in industries and technologies related to the Fourth Industrial Revolution is made extensively around the world, and many related industries and technologies are being developed. In this paper, we will look into the status and problems of Advanced Concept Technology Demonstration projects that can quickly and easily introduce technologies related to the fourth industrial revolution in the private sector where many developments are taking place, and present the direction of development.

• Korea Trade Review
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• v.44 no.1
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• pp.87-99
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• 2019

Recently there are sharp increase in number of studies related with facilitation of Inward-FDI or Multinational Enterprises invested in Korea region. The most of studies are mainly purposing to survey - 1)how Korea Government makes counter plan and assistance policy to make foreign capital and Inward-FDI more attractively and aggressively, 2)what is the new framework or system for Inward-FDI policy, 3)what is economic effect of Inward-FDI, 4)what are determinants or conclusive factors of FDI in Korea. Under this situation, the goal of this report is to find out the new way for Multinational Enterprises to reinvest continuously thru getting their better investment performances on several factors including Marketing Competence, Management Ability, Localization Management Skill, Business Management Strategy, and R&D Competitiveness which would be much more important determinants influencing re-investment of Multinational Enterprises in Kora. This report based on the empirical result and comprehensive analysis will eventually help policy makers to implement the appropriate strategy and support Multinational Enterprises to proceed positive circle's re-investment activity in the end.