• International Commerce and Information Review
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• v.4 no.2
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• pp.253-277
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• 2002

Nowaday, the advanced technology in information and communication has been leading the dramatic change of transaction paradigm expansion from physical basis to electronic one. As we know, financial services support most of financial exchange between two business parties. So the expansion of electronic transaction paradigm affects to every financial institutions which provide financial services. Thus, financial institutions have accepted e-Finance systems and providing internet financial services to live in the competition. The purpose of this study is to contribute the qualitative enhancement of its customer service, rapid diffusion and accurate strategy establishment for e-Finance industry in the user side. Through the literature review and factor and reliability analysis, this study selects six diffusion factors such as efficiency of perceived e-Finance, reliability and safety of e-Finance in perceived e-Finance itself's characteristic; confidence, technical factors and the customer service quality of e-Finance system in perception on e-Finance System; inclination to innovation in the personal characteristic. According to result of hypothesis verification by using logistics regression analysis, technical factors and the customer service quality of e-Finance system in perception on e-Finance System and inclination to innovation in the personal characteristic gave statistically positive effect to the diffusion decision at the significant level 0.05 and 0.01. However efficiency of perceived e-Finance, reliability and safety of e-Finance in perceived e-Finance itself's characteristic didn't affect to diffusion decision and confidence of e-Finance system in perception on e-Finance System didn't have any statistical significancy. This study can be used as a basic material for the forward empirical study of diffusion factors in the user side and be able to apply to company and government policy making or embodiment, determination for customer service quality degree of financial institutions. But this study has some limitations like didn't touch satisfaction factors and its effect, only deal domestic customers and didn't use multi-regression analysis.

• Journal of Intelligence and Information Systems
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• v.23 no.2
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• pp.107-122
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• 2017

Volatility in the stock market returns is a measure of investment risk. It plays a central role in portfolio optimization, asset pricing and risk management as well as most theoretical financial models. Engle(1982) presented a pioneering paper on the stock market volatility that explains the time-variant characteristics embedded in the stock market return volatility. His model, Autoregressive Conditional Heteroscedasticity (ARCH), was generalized by Bollerslev(1986) as GARCH models. Empirical studies have shown that GARCH models describes well the fat-tailed return distributions and volatility clustering phenomenon appearing in stock prices. The parameters of the GARCH models are generally estimated by the maximum likelihood estimation (MLE) based on the standard normal density. But, since 1987 Black Monday, the stock market prices have become very complex and shown a lot of noisy terms. Recent studies start to apply artificial intelligent approach in estimating the GARCH parameters as a substitute for the MLE. The paper presents SVR-based GARCH process and compares with MLE-based GARCH process to estimate the parameters of GARCH models which are known to well forecast stock market volatility. Kernel functions used in SVR estimation process are linear, polynomial and radial. We analyzed the suggested models with KOSPI 200 Index. This index is constituted by 200 blue chip stocks listed in the Korea Exchange. We sampled KOSPI 200 daily closing values from 2010 to 2015. Sample observations are 1487 days. We used 1187 days to train the suggested GARCH models and the remaining 300 days were used as testing data. First, symmetric and asymmetric GARCH models are estimated by MLE. We forecasted KOSPI 200 Index return volatility and the statistical metric MSE shows better results for the asymmetric GARCH models such as E-GARCH or GJR-GARCH. This is consistent with the documented non-normal return distribution characteristics with fat-tail and leptokurtosis. Compared with MLE estimation process, SVR-based GARCH models outperform the MLE methodology in KOSPI 200 Index return volatility forecasting. Polynomial kernel function shows exceptionally lower forecasting accuracy. We suggested Intelligent Volatility Trading System (IVTS) that utilizes the forecasted volatility results. IVTS entry rules are as follows. If forecasted tomorrow volatility will increase then buy volatility today. If forecasted tomorrow volatility will decrease then sell volatility today. If forecasted volatility direction does not change we hold the existing buy or sell positions. IVTS is assumed to buy and sell historical volatility values. This is somewhat unreal because we cannot trade historical volatility values themselves. But our simulation results are meaningful since the Korea Exchange introduced volatility futures contract that traders can trade since November 2014. The trading systems with SVR-based GARCH models show higher returns than MLE-based GARCH in the testing period. And trading profitable percentages of MLE-based GARCH IVTS models range from 47.5% to 50.0%, trading profitable percentages of SVR-based GARCH IVTS models range from 51.8% to 59.7%. MLE-based symmetric S-GARCH shows +150.2% return and SVR-based symmetric S-GARCH shows +526.4% return. MLE-based asymmetric E-GARCH shows -72% return and SVR-based asymmetric E-GARCH shows +245.6% return. MLE-based asymmetric GJR-GARCH shows -98.7% return and SVR-based asymmetric GJR-GARCH shows +126.3% return. Linear kernel function shows higher trading returns than radial kernel function. Best performance of SVR-based IVTS is +526.4% and that of MLE-based IVTS is +150.2%. SVR-based GARCH IVTS shows higher trading frequency. This study has some limitations. Our models are solely based on SVR. Other artificial intelligence models are needed to search for better performance. We do not consider costs incurred in the trading process including brokerage commissions and slippage costs. IVTS trading performance is unreal since we use historical volatility values as trading objects. The exact forecasting of stock market volatility is essential in the real trading as well as asset pricing models. Further studies on other machine learning-based GARCH models can give better information for the stock market investors.

• Korean Journal of Heritage: History & Science
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• v.52 no.3
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• pp.172-187
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• 2019

Knowledge of intangible cultural heritage is usually disseminated through word-of-mouth and actions rather than written records. Thus, people assemble to teach others about it and form communities. Accordingly, to understand and spread information about intangible cultural heritage properly, it is necessary to understand not only their attributes but also a community's relational characteristics. Community members include specialized transmitters who work under the auspices of institutions, and general transmitters who enjoy intangible cultural heritage in their daily lives. They converse about intangible cultural heritage in close relationships. However, to date, research has focused only on professionals. Thus, this study focused on the roles of general transmitters of intangible cultural heritage information by investigating intangible cultural heritage communities centering around Jeongseon Arirang; a social network analysis was performed. Regarding the research objectives presented in the introduction, the main findings of the study are summarized as follows. First, there were 197 links between 74 members of the Jeongseon Arirang Transmission Community. One individual had connections with 2.7 persons on average, and all were connected through two steps in the community. However, the density and the clustering coefficient were low, 0.036 and 0.32, respectively; therefore, the cohesiveness of this community was low, and the relationships between the members were not strong. Second, 'Young-ran Yu', 'Nam-gi Kim' and 'Gil-ja Kim' were found to be the prominent figures of the Jeongseon Arirang Transmission Community, and the central structure of the network was concentrated around these three individuals. Being located in the central structure of the network indicates that a person is popular and ranked high. Also, it means that a person has an advantage in terms of the speed and quantity of the acquisition of information and resources, and is in a relatively superior position in terms of bargaining power. Third, to understand the replaceability of the roles of Young-ran Yu, Nam-gi Kim, and Gil-ja Kim, who were found to be the major figures through an analysis of the central structure, structural equivalence was profiled. The results of the analysis showed that the positions and roles of Young-ran Yu, Nam-gi Kim, and Gil-ja Kim were unrivaled and irreplaceable in the Jeongseon Arirang Transmission Community. However, considering that these three members were in their 60s and 70s, it seemed that it would be necessary to prepare measures for the smooth maintenance and operation of the community. Fourth, to examine the subgroup hidden in the network of the Jeongseon Arirang Transmission Community, an analysis of communities was conducted. A community refers to a subgroup clearly differentiated based on modularity. The results of the analysis identified the existence of four communities. Furthermore, the results of an analysis of the central structure showed that the communities were formed and centered around Young-ran Yu, Hyung-jo Kim, Nam-gi Kim, and Gil-ja Kim. Most of the transmission TAs recommended by those members, students who completed a course, transmission scholarship holders, and the general members taught in the transmission classes of the Jeongseon Arirang Preservation Society were included as members of the communities. Through these findings, it was discovered that it is possible to maintain the transmission genealogy, making an exchange with the general members by employing the present method for the transmission of Jeongseon Arirang, the joint transmission method. It is worth paying attention to the joint transmission method as it overcomes the demerits of the existing closed one-on-one apprentice method and provides members with an opportunity to learn their masters' various singing styles. This study is significant for the following reasons: First, by collecting and examining data using a social network analysis method, this study analyzed phenomena that had been difficult to investigate using existing statistical analyses. Second, by adopting a different approach to the previous method in which the genealogy was understood, looking at oral data, this study analyzed the structures of the transmitters' relationships with objective and quantitative data. Third, this study visualized and presented the abstract structures of the relationships among the transmitters of intangible cultural heritage information on a 2D spring map. The results of this study can be utilized as a baseline for the development of community-centered policies for the protection of intangible cultural heritage specified in the UNESCO Convention for the Safeguarding of Intangible Cultural Heritage. To achieve this, it would be necessary to supplement this study through case studies and follow-up studies on more aspects in the future.

• Asia pacific journal of information systems
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• v.24 no.3
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• pp.325-344
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• 2014

Technical support of Window XP ended in March, 8, 2014, and it makes OS(Operating System) users fall in a state of confusion. Sudden decision making of OS upgrade and replacement is not a simple problem. Firms need to change the long term capacity plan in enterprise IS management, but they are pressed for time and cost to complete it. Individuals can not help selecting the second best plan, because the following OSs of Window XP are below expectations in performances, new PC sales as the opportunities of OS upgrade decrease, and the potential risk of OS technical support ending had not announced to OS users at the point of purchase. Microsoft as the OS vendors had not presented precaution or remedy for this confusion. Rather, Microsoft announced that the technical support of the other following OSs of Wndow XP such as Window 7 would ended in two years. This conflict between OS vendor and OS users could not happen in one time, but could recur in recent future. Although studies on the ways of OS user protection policy would be needed to escape from this conflict, few prior studies had conducted this issue. This study had challenge to cautiously investigate in such OS user's reactions as the confirmation with OS user's expectation in the point of purchase, three types of justice perception on the treatment of OS vendor, psychological contract violation, satisfaction and the other betrayal behavioral intention in the case of Window XP technical support ending. By adopting the justice perception on this research, and by empirically validating the impact on OS user's reactions, I could suggest the direction of establishing OS user protection policy of OS vendor. Based on the expectation-confirmation theory, the theory of justice, literatures about psychological contract violation, and studies about consumer betrayal behaviors in the perspective of Herzberg(1968)'s dual factor theory, I developed the research model and hypothesis. Expectation-confirmation theory explain that consumers had expectation on the performance of product in the point of sale, and they could satisfied with their purchase behaviors, when the expectation could have confirmed in the point of consumption. The theory of justice in social exchange argues that treatee could be willing to accept the treatment by treater when the three types of justice as distributive, procedural, and interactional justice could be established in treatment. Literatures about psychological contract violation in human behaviors explains that contracter in a side could have the implied contract (also called 'psychological contract') which the contracter in the other side would sincerely execute the contract, and that they are willing to do vengeance behaviors when their contract had unfairly been broken. When the psychological contract of consumers had been broken, consumers feel distrust with the vendors and are willing to decrease such beneficial attitude and behavior as satisfaction, loyalty and repurchase intention. At the same time, consumers feel betrayal and are willing to increase such retributive attitude and behavior as negative word-of-mouth, complain to the vendors, complain to the third parties for consumer protection. We conducted a scenario survey in order to validate our research model at March, 2013, when is the point of news released firstly and when is the point of one year before the acture Window XP technical support ending. We collected the valid data from 238 voluntary participants who are the OS users but had not yet exposed the news of Window OSs technical support ending schedule. The subject had been allocated into two groups and one of two groups had been exposed this news. The data had been analyzed by the MANOVA and PLS. MANOVA results indicate that the OSs technical support ending could significantly decrease all three types of justice perception. PLS results indicated that it could significantly increase psychological contract violation and that this increased psychological contract violation could significantly reduce the trust and increase the perceived betrayal. Then, it could significantly reduce satisfaction, loyalty, and repurchase intention, and it also could significantly increase negative word-of-month intention, complain to the vendor intention, and complain to the third party intention. All hypothesis had been significantly approved. Consequently, OS users feel that the OSs technical support ending is not natural value added service ending, but the violation of the core OS purchase contract, that it could be the posteriori prohibition of OS user's OS usage right, and that it could induce the psychological contract violation of OS users. This study would contributions to introduce the psychological contract violation of the OS users from the OSs technical support ending in IS field, to introduce three types of justice as the antecedents of psychological contract violation, and to empirically validate the impact of psychological contract violation both on the beneficial and retributive behavioral intentions of OS users. For practice, the results of this study could contribute to make more comprehensive OS user protection policy and consumer relationship management practices of OS vendor.

• Proceedings of the Korea Environmental Mutagen Society Conference
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• 2003.10a
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• pp.34-63
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• 2003

Occupational and environmental exposure to manganese continue to represent a realistic public health problem in both developed and developing countries. Increased utility of MMT as a replacement for lead in gasoline creates a new source of environmental exposure to manganese. It is, therefore, imperative that further attention be directed at molecular neurotoxicology of manganese. A Need for a more complete understanding of manganese functions both in health and disease, and for a better defined role of manganese in iron metabolism is well substantiated. The in-depth studies in this area should provide novel information on the potential public health risk associated with manganese exposure. It will also explore novel mechanism(s) of manganese-induced neurotoxicity from the angle of Mn-Fe interaction at both systemic and cellular levels. More importantly, the result of these studies will offer clues to the etiology of IPD and its associated abnormal iron and energy metabolism. To achieve these goals, however, a number of outstanding questions remain to be resolved. First, one must understand what species of manganese in the biological matrices plays critical role in the induction of neurotoxicity, Mn(II) or Mn(III)? In our own studies with aconitase, Cpx-I, and Cpx-II, manganese was added to the buffers as the divalent salt, i.e., $MnCl_2$. While it is quite reasonable to suggest that the effect on aconitase and/or Cpx-I activites was associated with the divalent species of manganese, the experimental design does not preclude the possibility that a manganese species of higher oxidation state, such as Mn(III), is required for the induction of these effects. The ionic radius of Mn(III) is 65 ppm, which is similar to the ionic size to Fe(III) (65 ppm at the high spin state) in aconitase (Nieboer and Fletcher, 1996; Sneed et al., 1953). Thus it is plausible that the higher oxidation state of manganese optimally fits into the geometric space of aconitase, serving as the active species in this enzymatic reaction. In the current literature, most of the studies on manganese toxicity have used Mn(II) as $MnCl_2$ rather than Mn(III). The obvious advantage of Mn(II) is its good water solubility, which allows effortless preparation in either in vivo or in vitro investigation, whereas almost all of the Mn(III) salt products on the comparison between two valent manganese species nearly infeasible. Thus a more intimate collaboration with physiochemists to develop a better way to study Mn(III) species in biological matrices is pressingly needed. Second, In spite of the special affinity of manganese for mitochondria and its similar chemical properties to iron, there is a sound reason to postulate that manganese may act as an iron surrogate in certain iron-requiring enzymes. It is, therefore, imperative to design the physiochemical studies to determine whether manganese can indeed exchange with iron in proteins, and to understand how manganese interacts with tertiary structure of proteins. The studies on binding properties (such as affinity constant, dissociation parameter, etc.) of manganese and iron to key enzymes associated with iron and energy regulation would add additional information to our knowledge of Mn-Fe neurotoxicity. Third, manganese exposure, either in vivo or in vitro, promotes cellular overload of iron. It is still unclear, however, how exactly manganese interacts with cellular iron regulatory processes and what is the mechanism underlying this cellular iron overload. As discussed above, the binding of IRP-I to TfR mRNA leads to the expression of TfR, thereby increasing cellular iron uptake. The sequence encoding TfR mRNA, in particular IRE fragments, has been well-documented in literature. It is therefore possible to use molecular technique to elaborate whether manganese cytotoxicity influences the mRNA expression of iron regulatory proteins and how manganese exposure alters the binding activity of IPRs to TfR mRNA. Finally, the current manganese investigation has largely focused on the issues ranging from disposition/toxicity study to the characterization of clinical symptoms. Much less has been done regarding the risk assessment of environmenta/occupational exposure. One of the unsolved, pressing puzzles is the lack of reliable biomarker(s) for manganese-induced neurologic lesions in long-term, low-level exposure situation. Lack of such a diagnostic means renders it impossible to assess the human health risk and long-term social impact associated with potentially elevated manganese in environment. The biochemical interaction between manganese and iron, particularly the ensuing subtle changes of certain relevant proteins, provides the opportunity to identify and develop such a specific biomarker for manganese-induced neuronal damage. By learning the molecular mechanism of cytotoxicity, one will be able to find a better way for prediction and treatment of manganese-initiated neurodegenerative diseases.

• Korean Journal of Human Ecology
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• v.7 no.1
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• pp.51-67
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• 2004

This study analyzed the effects of nutrition technicians' hygiene education on cooking workers' performance of hygiene management in order to ensure the security of school meals. The situation of cooking workers' disposition in subject schools was elementary school(51.1%) and middle school(48.9%) and the type of meals was rural area type(54.2%), urban type(36.5%). and island and isolated area type(9.3%). The methods of meals management were single cooking(88.2%) and joint cooking and management(11.8%). The type of distributing meals was distributing in a dining room(93.5%), in a classroom(3.7%), and in both dining room and classroom(2.8%). Nutrition technicians' employment form included regular(53.5%) and daily(88.2%). Their education was junior college graduate(50.2%), university graduate(44.8%). and graduate school students(5.0%). Cooking workers' employment form included daily(88.2%) and regular (11.1%). suggesting that most were regular. Most cooking workers(77.4%) had at least high school certificate. Regarding the situation of cooking workers' disposition in subject schools, the number of student per one cooking worker was found as 91-120(37.2%), 61-90(22.6%). 60 and under(21.l %). 121-15006.7%). and 151 and over(2.5%). Cooking workers' level of performance of hygiene management was post-working stage(66.37/75 marks), pre-working stage(64.22/75 marks). and working stage(20.34/25 marks), The counting of meals articles in a pre-working stage(20.34/25 marks). temperature and required time in a working stage(18.78/25 marks), and machinery equipment and hygiene in a pre-working stage(21.40/25 marks) showed lowest of performance, which suggest poor service of hygiene. Cooking workers' performance of hygiene management by working stage showed the significant difference with school class(p<.001), type of schools with meals(p<.05). state of cooking workers' employment(p<.001), and cooking worker's disposition(p<.05). A working stage showed the significant difference with type of schools with meals(p<.05). A post-working stage showed the significant difference according to type of schools with meals(p<.05), and the methods of meals management(p<.05), and cooking workers' disposition(p<.05). In the execution of hygiene education, individual hygiene was highest(94.8%), followed by the management of machinery equipment and tools(89.7%), food poisoning and microorganism(94.7%), and the method of food treatment(76.4%). A yearly plan of hygiene education included established(83.9%) and not established(l6.1%). Regular education included not executed(25.1%), 2-3 times a month(l6.1%), and more than 4 a month(4.0%) and occasional education was not executed(57.0%), 1-3 times a month(26.3%), and more than 4 a month(l5.7%). In the methods for hygiene education, oral education(95.7%) was used most, followed by demonstration(10.5%), poster/photo(10.5%), video/slide(3.7%), and computer(3.7%). Frequency of improvement and complement of hygiene education included once a month(56.3%), once a year(20.7%), by quarter(l1.5%), and every six months(1l.5%). Newspaper was used most in materials of hygiene education, followed by internet, TV, nutrition technician's reeducation, information exchange between members, educational office's training, and reference book, and educational office's material. and symposium. Cooking workers' assessment of the effect of hygiene education was conducted through observation(56.8%), check table(l5.2%), question(l4.0%), and examination(14.0%). The reason of cooking workers' low level of performance included habitual custom(53.9%), lack of understanding(20.4%), overwork(l4.6%), and lack of knowledge(l1.l%) and the reason of difficulty in hygiene education included lack of time(55.3%), lack of understanding(27.6%), lack of knowledge and information(8.7%), and lack of budget(48.0%).

• Journal of Intelligence and Information Systems
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• v.25 no.3
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• pp.63-88
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• 2019

The goal of this paper is to investigate changes in North Korea's domestic and foreign policies through automated text analysis over North Korea represented in South Korean mass media. Based on that data, we then analyze the status of text mining research, using a text mining technique to find the topics, methods, and trends of text mining research. We also investigate the characteristics and method of analysis of the text mining techniques, confirmed by analysis of the data. In this study, R program was used to apply the text mining technique. R program is free software for statistical computing and graphics. Also, Text mining methods allow to highlight the most frequently used keywords in a paragraph of texts. One can create a word cloud, also referred as text cloud or tag cloud. This study proposes a procedure to find meaningful tendencies based on a combination of word cloud, and co-occurrence networks. This study aims to more objectively explore the images of North Korea represented in South Korean newspapers by quantitatively reviewing the patterns of language use related to North Korea from 2016. 11. 1 to 2019. 5. 23 newspaper big data. In this study, we divided into three periods considering recent inter - Korean relations. Before January 1, 2018, it was set as a Before Phase of Peace Building. From January 1, 2018 to February 24, 2019, we have set up a Peace Building Phase. The New Year's message of Kim Jong-un and the Olympics of Pyeong Chang formed an atmosphere of peace on the Korean peninsula. After the Hanoi Pease summit, the third period was the silence of the relationship between North Korea and the United States. Therefore, it was called Depression Phase of Peace Building. This study analyzes news articles related to North Korea of the Korea Press Foundation database(www.bigkinds.or.kr) through text mining, to investigate characteristics of the Kim Jong-un regime's South Korea policy and unification discourse. The main results of this study show that trends in the North Korean national policy agenda can be discovered based on clustering and visualization algorithms. In particular, it examines the changes in the international circumstances, domestic conflicts, the living conditions of North Korea, the South's Aid project for the North, the conflicts of the two Koreas, North Korean nuclear issue, and the North Korean refugee problem through the co-occurrence word analysis. It also offers an analysis of South Korean mentality toward North Korea in terms of the semantic prosody. In the Before Phase of Peace Building, the results of the analysis showed the order of 'Missiles', 'North Korea Nuclear', 'Diplomacy', 'Unification', and ' South-North Korean'. The results of Peace Building Phase are extracted the order of 'Panmunjom', 'Unification', 'North Korea Nuclear', 'Diplomacy', and 'Military'. The results of Depression Phase of Peace Building derived the order of 'North Korea Nuclear', 'North and South Korea', 'Missile', 'State Department', and 'International'. There are 16 words adopted in all three periods. The order is as follows: 'missile', 'North Korea Nuclear', 'Diplomacy', 'Unification', 'North and South Korea', 'Military', 'Kaesong Industrial Complex', 'Defense', 'Sanctions', 'Denuclearization', 'Peace', 'Exchange and Cooperation', and 'South Korea'. We expect that the results of this study will contribute to analyze the trends of news content of North Korea associated with North Korea's provocations. And future research on North Korean trends will be conducted based on the results of this study. We will continue to study the model development for North Korea risk measurement that can anticipate and respond to North Korea's behavior in advance. We expect that the text mining analysis method and the scientific data analysis technique will be applied to North Korea and unification research field. Through these academic studies, I hope to see a lot of studies that make important contributions to the nation.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.19
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• pp.224-242
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• 2003

The author believes that the main task of study in international trade usage and practice is the management of transactional risks involved in international sale of goods. They are foreign exchange risks, transportation risks, credit risk, risk of miscommunication, etc. In most cases, these risks are more serious and enormous than those involved in domestic sales. Historically, the merchant adventurers organized the voyage abroad, secured trade finance, and went around the ocean with their own or consigned cargo until around the $mid-19^{th}$ century. They did business faceto-face at the trade fair or the open port where they maintained the local offices, so-called "Trading House"(商館). Thererfore, the transactional risks might have been one-sided either with the seller or the buyer. The bottomry seemed a typical arrangement for risk sharing among the interested parties to the adventure. In this way, such organizational arrangements coped with or bore the transactional risks. With the advent of ocean liner services and wireless communication across the national border in the $19^{th}$ century, the business of merchant adventurers developed toward the clear division of labor; sales by mercantile agents, and ocean transportation by the steam ship companies. The international banking helped the process to be accelerated. Then, bills of lading backed up by the statute made it possible to conduct documentary sales with a foreign partner in different country. Thus, FOB terms including ocean freight and CIF terms emerged gradually as standard trade terms in which transactional risks were allocated through negotiation between the seller and the buyer located in different countries. Both of them did not have to go abroad with their cargo. Instead, documentation in compliance with the terms of the contract(plus an L/C in some cases) must by 'strictly' fulfilled. In other words, the set of contractual documents must be tendered in advance of the arrival of the goods at port of discharge. Trust or reliance is placed on such contractual paper documents. However, the container transport services introduced as international intermodal transport since the late 1960s frequently caused the earlier arrival of the goods at the destination before the presentation of the set of paper documents, which may take 5 to 10% of the amount of transaction. In addition, the size of the container vessel required the speedy transport documentation before sailing from the port of loading. In these circumstances, computerized processing of transport related documents became essential for inexpensive transaction cost and uninterrupted distribution of the goods. Such computerization does not stop at the phase of transportation but extends to cover the whole process of international trade, transforming the documentary sales into less-paper trade and further into paperless trade, i.e., EDI or E-Commerce. Now we face the other side of the coin, which is data security and paperless transfer of legal rights and obligations. Unfortunately, these issues are not effectively covered by a set of contracts only. Obviously, EDI or E-Commerce is based on the common business process and harmonized system of various data codes as well as the standard message formats. This essential feature of E-Commerce needs effective coordination of different divisions of business and tight control over credit arrangements in addition to the standard contract of sales. In a few word, information does not alway invite "trust". Credit flows from people, or close organizational tie-ups. It is our common understanding that, without well-orchestrated organizational arrangements made by leading companies, E-Commerce does not work well for paperless trade. With such arrangements well in place, participating E-business members do not need to seriously care for credit risk. Finally, it is also clear that E-International Commerce must be linked up with a set of government EDIs such as NACCS, Port EDI, JETRAS, etc, in Japan. Therefore, there is still a long way before us to go for E-Commerce in practice, not on the top of information manager's desk.

• International Commerce and Information Review
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• v.8 no.4
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• pp.105-121
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• 2006

This study is related with the judgements of our country's supremcourt against the transaction of Letter of Credit which is beneficiary's fraudulent trade deal. In this case I think to analyse the judgements and to present the basic grounds on which the judgements were established. In Letter of Credit transaction, there are the major parties, such as, beneficiary, issuing bank, or confirming bank and the other parties such as applicant, negotiating bank, advising bank and paying bank. Therefore, in this cases, the beneficiary, the French Weapons' Supplier who did not shipped the commodities, created the false Bill of Lading, let his dealing bank make payment against the documents presented by him and received the proceeds from the negotiating bank or collecting bank, thereafter was bankrupted and escaped. For the first time, even though the issuing bank conceived that the presented documents were inconsistent with the terms of L/C. it did not received the payment approval from the applicant against all the discrepancies, made the negotiating bank pay the proceeds to exporter and thereafter, delivered the documents to the applicant long after the time of the issuing bank's examination of documents. The applicant who received the documents from the issuing bank, instantly did not examine the documents and inform to the issuing bank whether he accepted the documents or not. Long time after, applicant tried to clear the goods through custom when he knew the bill of ladings were false and founded out the documents had the other discrepancies which he did not approved. As the results, the applicant, Korea Army Transportation Command claimed, that the issuing bank must refund his paid amount because issuing bank examined the documents unreasonably according to u.c.p 500 Act 13th, 14th. In spite of the applicant's claim, the issuing bank argued that it paid the proceeds of L/C reasonably after receiving the applicant's approval of an discrepancy of document, the delayed shipment, but for concerning the other discrepancies, the trivial ones, the applicant did not examined the document and noticed the discrepancies in reasonable time. Therefore the applicant sued the issuing bank for refunding it's paid proceeds of L/C. Originally, this cases were risen between Korea Exchange Bank and Korea Army Transportation Command. As result of analysing the case, the contents of the case case have had same procedure actually, but the lower courts, the district and high courts all judged the issuing bank was reasonable and did not make an error. As analysing these supreme court's judgements, the problem is that whether there are the applicant's liability of examining the documents and informing its discrepancies to the issuing bank or not, and if the applicant broke such a liabilities, it lost the right of claiming the repayment from issuing bank. Finally to say, such applicant's liabilities only must be existed in case the documents arrived to the issuing bank was delivered to the applicant within the time of the documents examination according to u.c.p 500 Act 14, d. i. But if any the documents were delivered to applicant after time of the documents examination, the applicant had not such liabilities because eventhough after those time the applicant would have informed to the issuing bank the discrepancies of documents, the issuing bank couldn't receive repayment of its paid proceeds of document from the negotiating bank. In the result after time of issuing bank's examination of documents, it is considered that there's no actual benefit to ask the applicant practice it's liability. Therefore finally to say. I concluded that the Suprem Court's judgement was much more reasonable. In the following, the judgements of the supreme court would be analysed more concretely, the basic reasons of the results be explained and the way of protecting such L/C transaction would be presented.

• Journal of the Korean Society for Marine Environment & Energy
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• v.13 no.3
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• pp.135-150
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• 2010

At the Intergovernmental Meeting held in 1972, the London Convention was adopted to prevent marine pollution from dumping of wastes and other matter. After that, at the special meeting held at the Headquarters of the International Maritime Organization in 1996, the London Convention was revised to consider advances in technology of treatment and disposal of wastes and to reflect changes in understanding of marine environment and then the London Protocol was concluded. The London Protocol states more concrete management system for ocean dumping than the London Convention and also provides that the Meeting of Contracting Parties shall establish those procedures and mechanisms necessary to assess and promote compliance with the Protocol. With the London Protocol in force since 24 March 2006, the Meeting of Contracting Parties adopted the 'Compliance Procedures and Mechanisms (CPM) pursuant to Article 11 of the 1996 Protocol to the London Convention 1972' and established the Compliance Group in 2007. According to the CPM, members of the Compliance Group shall be nominated by Contracting Parties, based on equitable and balanced geographic representation of the five Regional Groups of the United Nations, and elected by the Meeting of Contracting Parties. In 2009, the Republic of Korea nominated a member of the Compliance Group to be subsequently elected by the Meeting of Contracting Parties with the approval of other states in Asia Group. Through the United Nations Regional Group System based on geographical identity or political affinity, Contracting Parties to the London Protocol are expected to form a voting bloc or to exchange information in meetings on the London Protocol. In this sense, it is noteworthy that the London Protocol introduced marine environmental management system for comprehensive prohibition of ocean dumping with exception of the so-called 'reverse-list' which had been earlier adopted by the 'Convention for the Protection of the Marine Environment of the North-East Atlantic, 1992 (OSPAR)' whose contracting parties belonged to Western European and Other States Group. In recent years, the jurisdiction of London Protocol has been extended to protect and preserve the marine environment from all sources of pollution. This will make the United Nations Regional Group System play more important roles in the activities associated with the London Protocol. For this reason, this article has considered characteristics of the United Nations Regional Group System and has analyzed influences of this Regional Group System in meetings on the London Protocol. This could provide preliminary information for the Republic of Korea to give due consideration to the United Nations Regional Group System on the activities associated with the London Protocol.