• Journal of the Korean Operations Research and Management Science Society
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• 제30권2호
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• pp.105-115
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• 2005

By committing to a long-term replenishment contract, buyers can purchase a product at a lower price from a supplier who is less pressured to find new customers due to the long-term contract and can charge a discounted price. We develop an analytical model from the buyer's perspective to investigate a capacity reservation contract. We are considering the system with a single supplier and a buyer. The buyer can purchases any desired amount from a spot market at a higher price in addition to the contracted amount. For such a system, we propose an algorithm to derive the optimal contract terms. The result of computational experiments shows that the algorithm finds the global optimum solution in a resonable amount of time.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• 제77권
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• pp.23-42
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• 2018

This study compares the SGA and CISG to find out the difference of the criteria for calculating damages. and it intends to give some important points in trade practice. The damages is intended to compensate the victim for the breach of contract but there are differences between SGA and CISG as follow. First, the SGA and CISG have the same purpose of claiming damages. Both laws and regulations are subject to a full indemnification to compensate for the breach of the contract by the amount equivalent to the loss suffered by the victim. Second, in the general principle related to the calculation of damages, both law enforcement officials are required to be able to predict damages caused by breach of contract. In the case of SGA, however, a foreseeability test or remoteness of damages is required for the relationship between the contract violation and the loss. In other words, it can be said that the causal relation between the contract violation and the damage is strictly applied rather than the CISG. Finally, both laws and regulations of SGA and CISG have a big difference in criteria for calculating damages. In the CISG, after the contract is canceled, it is classified according to the existence of the alternative transaction and the damage amount is calculated based on the contract price. On the other hand, the SGA estimates the loss based on the market price at the delivery of the goods, reflecting the change in the market price instead of the contract price of the goods.

• Journal of Family Relations
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• 제22권3호
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• pp.155-183
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• 2017

Objectives: The purpose of this study identified the perceived quality of parent-child relationships and attitudes toward filial duty contracts among young adult children. Also, this study is to examine the effects of sociodemographic characteristics and perceived quality parent-child relationships on the attitudes toward filial duty contracts and the requirement for filial duty contract details. Method: For this study, a survey was conducted with 210 college student children in young adulthood in Seoul and Gyeonggi-do. The questionnaire consisted of the 'Attitudes toward Filial Duty Contracts Scale', the 'Requirement for Filial Duty Contract Details Scale', and the 'Quality of Parent-Child Relationships Scale' with a demographic questionnaire. Specifically, the Attitudes toward Filial Duty Contracts Scale consisted of the support for contract, the intention of contract, and reservation contract amount on young adult children's mind. Data were analyzed by means of descriptive statistics and multiple regression analysis. Results: The major findings of this study are as follows: First, young adult children reported the relationship with mother better than father's and mid levels of support and intention of filial duty contract. They also showed that their reservation contract amount on their mind was about 500 million won. Second, the multiple regression analyses revealed that gender and pride of one's father positively related to their support for filial contract. Also, gender, the pride of one's father, and emotional closeness to one's father significantly affected their intention of filial contract. In addition, among the variables, only monthly family income significantly predicted their reservation contract amount. Finally, the multiple regression analyses revealed that birth order and gender significantly predicted the normative duty contract. Also, the pride of one's father significantly affected the emotional support contract. However, filial duty contract details such as caregiving for sick parents, physical support, and economic support have been found to be meaningless. Conclusions: The findings suggest that preparative education of aging for parents who are considering making the filial duty contracts with their children should include some realistic advice. These pieces of advice include their parent-child relationship and consideration of their own overall asset sizes.

• Korean Journal of Construction Engineering and Management
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• 제21권4호
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• pp.82-89
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• 2020

Article 64 of the Enforcement Decree of the National Contract Act The requirement of the pre-amendment statute related to the adjustment of the contract price was 5% or more of the price fluctuation rate from the date of the contract. However, the meeting requirement was changed from 5% or more to 3% or more from the date of signing of the Presidential Decree No. 19035 to 2005. 9. 8. The method of adjusting the contract amount was also changed to determine the contractor's desired adjustment method at the time of contract. Alleviating these requirements and revising the empowerment of contract partners is intended to prevent difficulties in achieving smooth objectives by applying to public construction contractors without unfairly benefiting or unfavorable to contract partners. Even if the standards are relaxed and the rights are secured as described above, if the existing provisions for the adjustment of price fluctuation are applied, unlike the original purpose of the government system, the Korea Bank's price economic statistics classification method and the contract construction classification criteria applied in public construction work Due to the inconsistency, it can be seen that the amount of adjustment for price fluctuation by construction type is excessive and underestimated. Therefore, the purpose of this study is to analyze problems through cases and to make appropriate construction cost adjustment through improvement measures.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• 제54권
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• pp.3-44
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• 2012

Shipbuilding industry is one of the most influential ones in Korea. As shipbuilding industry is labor-intensive, it contributes to enhancing both local economy and national economy. Shipbuilding industry has been downsizing since the end of 2008 due to global financial crisis caused by America's sub-prime mortgage and aggravated by European countries' fiscal deficit. As a large fund is required for a single normal shipbuilding contract, fund raising is one of the most important elements in shipbuilding contract. Shipbuilding contract, requires refund guarantee in order for a buyer to reimburse the progressive payment paid to a builder. The disputes under shipbuilding contracts are mostly settled by arbitration rather than by law suit. English laws and English courts have been preferred for the choice of law as well as for the choice of forum. Due to depreciation of the ship value since the end of 2008, a number of buyers are trying to cancel the contract by raising unjust claim under the contract. Once disputes occurs regarding shipbuilding contract, a large amount of loss is inevitable. In order to mitigate the disputes arising from the shipbuilding contract, careful caution is required in drafting a shipbuilding contract.

• Journal of architectural history
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• 제15권5호
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• pp.19-39
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• 2006

This study deals with construction contract bid-rigging by Japanese contractors who monopolized the construction market of the Korean Peninsula during the Japanese colonial rule, and investigates the abuses of the contract bid-rigging. First of all, construction contract bid-rigging in Korea was triggered by Japanese construction contractors and contract brokers, who had savored the benefits of bidrigging in Japan and had repeated the bid-rigging in Korea since 1903. Second, the agency played a significant role to mediate construction contractors, and existed throughout the Japanese colonial rule on the Korean Peninsula with changing their names. Most of them were engaged in major contract bid-rigging scandals. Among them was Construction Association of Korea, which existed for over 13 years. The agencies had took part in governmental services since the mid-1930s when Japan exploited Korean people during wartime, and focused on sweating human resources for the constructions. Third, one of the biggest construction bid-rigging scandals during the Japanese colonial rule was "the 1st and 2nd scandal on Daegu construction contract bid-rigging." Indeed, the second scandal paved the way for the serial scandals: "Kyeongseong construction contract bid-rigging scandal", "Busan construction contract bid-rigging scandal", and other cases throughout the nation. Fourth, along with the contract bid-rigging cases related to the Japanese Government-General of Korea and local authorities, bid-riggings firmly took rooted in local governments' farmland reclamation projects in the 1920s and the poor relief services in the 1930s. The "bid-rigging charges" forced contractors to compensate their losses with exploiting material costs and labor costs, generating serious problems. The construction contract bid-rigging enabled Japan to monopolize the construction industry and to sweat farmers on the Korean Peninsula. Against this backdrop, contract bid-rigging by Japanese construction contractors during the its colonization made Korean contractors ruled out, and helped Japanese monopolize the industry. A large amount of bid-rigging charges drove Japanese contractors to do fraudulent work with cheap materials and to exploit Korean labor force.

• Journal of Arbitration Studies
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• 제14권1호
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• pp.245-272
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• 2004

This study is focused on the cases that Korean hotels stepped into international airports, public facilities, and successfully solved the contract related disputes by using arbitration in accordance with arbitration law. This case study on arbitration derives the hotel management strategy points as follow: 1. It must be a good chance for a famed hotel to step into international airports that have big publication effect. The feasibility study focused on marketing feasibility rather than finance feasibility may, however, not be good. 2. Written contract is required in entering into a contract with government organizations. However, oral contract still exists. 3. If the contract is made to always pay the higher amount between annual minimal guarantee and sales rate in expenses of store using charge, such contract shall cause very hard sales environment from the initial stage of the contract. 4. The airports have made optional contracts for national service. Such optional contracts are, however, not free from public criticism. 5. This case study is the first case study on arbitration applied to hotels. This study shall be, therefore, frequently referred to in setting a management strategy of hotels that want to run restaurants in another facility outside themselves.

• Journal of Korean Institute of Industrial Engineers
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• 제30권3호
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• pp.241-249
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• 2004

By committing to a long-term replenishment contract, suppliers can mitigate the pressure to find new customers and afford to charge a discounted price to buyers seeking to lower their purchasing costs. In this paper, we develop an analytical model from buyer's perspective for the contracting process to investigate the buyer-supplier interactions. Based on the developed model, we propose an algorithm to derive optimal strategy for the contract. We consider a system with a single buyer and a supplier in a situation where the buyer's inventory is controlled by (R, S) policy under VMI setting. According to the contract, the supplier should replenish the buyer's inventory up to a fixed level every R times during a specified period. The buyer purchases any deficient amount from a spot market at a higher price. We show by computational experiment that our proposed algorithm finds the global optimum solution.

• Journal of the Korea Safety Management & Science
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• 제13권2호
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• pp.259-266
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• 2011

Project owner, asbestos removal specialist, experts on asbestos removal work, as counter parts to be defined in the study to make out research goals have been asked with questionnaire survey and replied with 65, 275, 32 cases, respectively. And additionally, direct interview 73 sheets have been collected to find out current status of required engineers and equipments assigned and provided to the field, from them, three(3) concerned parties. Questionnaire subjects are composed of common items, reasonable unit cost, need of separate contract-awarding system, status of performing standard contract, status of providing legal engineers and equipments. Concentrated review of two~three questions by subject has been made to find out and compare idea results between three(3) concerned parties. First, legal and practical work status survey have been made to determine reasonability of introducing separate contract-awarding system, as a part of ensuring reasonable unit work cost. And then, two different status have been compared and there is introduction possibility of separate contract-awarding system, it is found out. The possibility of separate contract also has been confirmed by comparison of domestic legal grounds. Justificating grounds to introduce separate contract-awarding system have been shown. Standard contract status between asbestos removal specialists has been compared using two cases of providing removal work contract and receiving it. It is shown that case of 50 percent or less contains 38.5% when they receive contract, but only 10 percent reduction of original contract amount has been made when they provide it. It means that asbestos removal specialists do not keep occupational safety and health regulations.

• Journal of the Korea Institute of Building Construction
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• 제3권1호
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• pp.155-160
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• 2003

The Korean economic crisis hit badly the local construction industry, especially during the year of the 1998 when the country took the IMF bailout proframme. Under the poor business environment, such as reduction of construction investment, financial difficulty from high interest rate, and increasing bankruptcies, restructuring measures were repuired for survival of the industry. It is obvious the restructuring process is essential for the future business success. regardless of the financial crisis. With this background, this research aims the contribute to improved construction management structure and strengthened international competitiveness of the industry through the cost reduction and productivity enhancement, by analysising and proposing and optimal level of the manpower structure of construction management organization With the subject of 24 construction fields of apartment houses in the capital region as of January 1, 1999, constructed by OO company having leaded the construction industry of the country so far now, the researcher performed the on the spot survey regarding the organization/manpower structure and construction contract amount.