• The Journal of the Korea Contents Association
• /
• v.19 no.10
• /
• pp.630-640
• /
• 2019

A series of recent events have laid the groundwork for discussions on the safety issues regarding production staff in the popular culture industry. In Korea, the standard contract has been pursued as a means of dealing with issues involving popular culture production staff. However, the existing standard contract failed to incorporate the characteristics and requirements in today's market, which greatly restricted its efficacy in real-world cases. Therefore, this study seeks to significantly improve the provisions in the standard contract that govern obligations between contractual parties, and the work safety of the production staff. To this end, considering the main causes of safety accidents and actual contracts, this study groups contractual provisions into several categories: the removal of adverse factors affecting optimal competency, factors causing individual staff's negligence, and external factors causing negligence. Then, this study proposes specific provisions to be included in each category.

• Journal of Arbitration Studies
• /
• v.29 no.3
• /
• pp.39-52
• /
• 2019

There are various factors to consider when parties to an international agreement draft a dispute resolution clause in their written contract. These factors can be classified into two categories. The first category is about the parties and the nature of the contract, such as the parties' places of business and whether the contract contains a simple transaction or has a complicated nature. The second category is about the applicable rules of the parties' places of business or performance such as the private international law, service of process rules, and enforcement of court judgment and arbitration award rules. When parties to an international contract agree to a litigation, they normally choose a forum court and a governing law. In selecting a forum court and a governing law, the parties must consider private international law, service of process rules, and enforcement of judgement rules of candidate forums. In case the parties agree to an arbitration, they have to choose between institutional arbitration and ad hoc arbitration. For ad hoc arbitration, parties still need to further agree on which arbitration rules to use, and in which place the arbitration shall take place. Mediation involves a similar kind of decision as with arbitration. Traditionally, national courts of the parties' places of business have been used as litigation forums in dispute resolution clauses but, recently, arbitration is being increasingly employed as an alternative dispute resolution method in international contracts. Moreover, there have been international efforts to utilize mediation as a dispute resolution method in international commercial issues. Rather than simply taking a dispute resolution clause provided in a sample written contract, parties to an international contract must carefully consider various relevant factors in order to insert a dispute resolution clause which will work well for a particular contract.

• Journal of Digital Convergence
• /
• v.17 no.11
• /
• pp.163-170
• /
• 2019

A new revenue recognition standard was adopted in 2018. The purpose of this paper is to analyse how K-IFRS 1115 'Revenue from Contracts with Customers' affects the revenue recognition of the telecommunication firms and to suggest a regulatory policy for the telecommunications industry. It shows identifying performance obligations for bundles, determining the transaction price and allocating the transaction price to the performance obligation and how to account for it using case study. The most important change in the telecommunication companies's revenue is to allocate the transaction price to two performance obligations: telecom services and mobile handset sales. As a result, sales revenue are expected to drop en masse. This study provides important implications for the regulatory accounting policy of the telecommunications industry.

• KSCE Journal of Civil and Environmental Engineering Research
• /
• v.39 no.5
• /
• pp.623-630
• /
• 2019

As the Asian region becomes strategically important in the international construction market, competition among construction firms has been more intense. While existing literature on the Asian construction market have mainly focused on qualitative approaches to market entry strategies and risk assessment, quantitative research to explain the dynamic competitive structure of the market has been rarely conducted. To address this issue, this study analyzes the structure of contract performance in the Asian region based on the data from 3,996 projects awarded to Korean construction firms from 2009 to 2017. In addition, this study applies a mathematical model using both static (market concentration) and dynamic (market mobility and instability) analyses. Consequently, the static analysis indicates that market concentration led by top-four firms tends to be increased, and on the dynamic aspect, the market position of Korean construction firms is recently weakened and fluctuated in most of the Asian regions and the construction sectors. The methodology and result of this paper would be meaningful not only to understand the underlying structure of industry-level performance but also to provide a useful reference for establishing competitive strategies towards the Asian market.

• Journal of Convergence for Information Technology
• /
• v.11 no.12
• /
• pp.127-137
• /
• 2021

The purpose of this study was to suggest the justification for social recognition of childcare staff through a review of Axel Honneth's recognition theory of childcare staff's caring work, the Constitution, the Infant Care Act, and the National Human Rights Commission Act. As a result of the study, first, the poor working environment of childcare staff was confirmed. Despite the continuous intervention of childcare policies to improve the working environment of childcare teachers, poor working conditions such as annual/monthly vacation and rest time guarantee were confirmed. Second, the human rights violations of childcare staff were confirmed. The installation of CCTV installed to prevent child abuse in childcare institutions confirmed not only the human rights violations of childcare staff but also the psychological pressure of childcare staff who are monitored 24 hours a day. Third, this study has significance in that it suggests the justification for social recognition of childcare staff through revision and supplementation of the current law for appropriate performance evaluation of childcare.

• Journal of Arbitration Studies
• /
• v.31 no.1
• /
• pp.83-105
• /
• 2021

If aggrieving consumers or employees cannot prove both substantive and procedural unconscionability, many U.S. state courts will enforce arbitration agreements. Additionally, U.S. courts weigh a variety of factors to determine whether an arbitration agreement is substantively unconscionable. For example, U.S. courts have considered one or a combination of the following factors: (1) the fairness of contractual terms; (2) the severity of contractual terms' deviation from prevailing standards, customs, or practices within a particular industry; (3) the reasonableness of goods-and-services contract prices; (4) the commercial reasonableness of the contract terms; (5) the purpose and effect of the terms and (6) "the allocation of risks between the parties." Further, procedural unconscionability characterized by surprise or lack of knowledge focuses on terms that are deceptively hidden in a mass of contract language, the object of another concealment, or imposed in the circumstances involving haste or high-pressure tactics so that they are not likely to be read or understood. This unconscionability doctrine can be applied to a situation where an alcoholic dementia-afflicted older adult is admitted to a nursing home. At that time, because she had alcoholic dementia, which precluded her reading, comprehending, writing, negotiating, or signing of any legal document, her son, who did not understand the adhesion contract, signed the standardized residential contract and the arbitration agreement.

• Korea Real Estate Review
• /
• v.28 no.1
• /
• pp.65-77
• /
• 2018

This paper analyzes the redemption risk of renters by estimating the LTV and CoLTV with finance market big data (individual credit information) and housing market big data (actual housing transaction data). The analysis showed that when using LTV, the redemption risk was higher in the case of the monthly renter than of the chonsei renter. On the other hand, when using CoLTV, the chonsei renter had a higher redemption risk than the monthly renter. This implies that there is a need to activate a guarantee system, such as risk management using the CoLTV index and the chonsei deposit return guarantee because it is possible for renters to experience losses on their chonsei deposits due to the higher redemption risk. Another implication is that the risk manager should consider the individual characteristics of renters because of the different effects of the redemption risk stemming from the characteristics of the rental contract and the personal characteristics of the renters. CoLTV was just a concept until this study calculated it using housing big data and actual housing transaction information. It helps identify the redemption risk through the characteristics of renters and their contracts.

• International Area Studies Review
• /
• v.14 no.3
• /
• pp.62-84
• /
• 2010

Accurate forecasting of volatility is of considerable interest in financial volatility research, particularly in regard to portfolio allocation, option pricing and risk management because volatility is equal to market risk. So, we attempted to delineate a model with good ability to forecast and identified stylized features of volatility, with a focus on volatility persistence or long memory in the Australian futures market. In this context, we assessed the long-memory property in the volatility of index futures contracts using three conditional volatility models, namely the GARCH, IGARCH and FIGARCH models. We found that the FIGARCH model better captures the long-memory property than do the GARCH and IGARCH models. Additionally, we found that the FIGARCH model provides superior performance in one-day-ahead volatility forecasts. As discussed in this paper, the FIGARCH model should prove a useful technique in forecasting the long-memory volatility in the Australian index futures market.

• Journal of the Korea Convergence Society
• /
• v.10 no.9
• /
• pp.221-228
• /
• 2019

Companies are making great efforts to integrate CSR into various aspects of their management strategies. A lot of research has been conducted on what management intends to do indirectly and indirectly. Was performed. In this study, we conducted additional research considering executive compensation as an indicator of the motivation for management to participate in CSR. The main purpose of this study was to analyze whether accounting performance measures or market performance measures are given more weight when providing rewards for performance to corporate managers conducting CSR activities. The analysis of the relationship between CSR and executive performance-reward sensitivity showed that corporate executives who actively implement CSR pay more weight to market performance measures rather than accounting performance measures. Considering the long-term performance of CSR when paying executives' compensation, the company pays more for market performance than accounting performance. This study is expected to be useful for executives to design compensation contracts to actively induce CSR implementation.

• Journal of Arbitration Studies
• /
• v.29 no.1
• /
• pp.53-70
• /
• 2019

This study analyzed some cases of the China International Economic and Trade Arbitration Commision (CIETAC) related to the application of the Contracts for the International Sale of Goods (CISG). As a contracting party of the CISG, China has accumulated a considerable amount of experience in applying CISG through commercial arbitrations. This study sought to understand how CISG is operated in commercial arbitration in China. By analyzing actual cases in China, Korean commercial arbitration can avoid mistakes and further improve. This study of Chinese cases will give some useful information for Korean companies. As defined by the CISG, the applicability can be divided into direct application and indirect application. When China joined the CISG, it made a reservation out of Article 1(1)(b). Korea and China are contracting parties to CISG and CISG is, therefore, directly applied. It is beneficial for Korea to understand how CIETAC is indirectly applied in China then. Some of the results of this study are as follows: First, CIETAC made a correct judgment most of the time on the direct application of CISG. However, there were mistakes in the judgment of the nationality of the parties in a few cases. The parties must clearly define applicable laws when entering into a contract. Secondly, the 2012 "CIETAC Arbitration Rules" was revised so that the "party autonomy" was introduced into Chinese commercial arbitration concerning indirect application. Therefore, the principle of autonomy of the parties was not fully recognized in the past judgments. Instead, the domestic law of China was applied in accordance with the reservation of Article 1(1)(b). Thirdly, China did not explain the application of CISG in Hong Kong, which led to ambiguity in concerned countries. Therefore, it is necessary to confirm the status of CISG in Hong Kong. In addition, Korean companies should clearly define the applicable laws when dealing with Hong Kong companies.