• Journal of Korea Trade
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• v.25 no.1
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• pp.152-168
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• 2021

Purpose - This paper has an objective to suggest reasonable criteria in choosing Incoterms 2020 rules for efficient and effective logistics management in that the Incoterms rules affect not only the rights and obligations of the parties to the sales contract but also the control and management of logistics system and transaction costs in the transaction. Design/methodology - An analysis of the various factors is needed to assess the positive or negative impact on global value chain in choosing Incoterms rules from a total logistics view. This study analyzes the impact of which the content of individual incoterms rules can have on the operation of international logistics systems under the global value chain from a strategic perspective to suggest reasonable criteria for selection of Incoterms rules depending on the transaction situation. Findings - Results of this study shows that consideration of various aspects which includes the characteristics of the products, logistics capabilities, infrastructure, transaction volume, operational cost, customs regulations, tax and accounting should be reflected in choosing the appropriate Incoterms rules. Therefore, in order to minimize the total cost and improve logistics performance, it may be helpful to develop a decision support model which allows users to select appropriate Incoterms rules based on various influencing factors. Originality/value - This Study is different from previous research which has mainly focused on the rights and obligations of the parties to the transaction regarding the transfer of risks and costs under the Incoterms. In addition, this study has significance in that it provides implications for export and import companies that can be able to use Incoterms as a strategic tool to efficiently manage the global value chain and improve supply chain performance.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.14
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• pp.237-256
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• 2000

Electronic commerce has been threatening to address the transaction inefficiencies in international trade that is conducted through letters of credit(L/Cs) and other forms of traditional paper-based financial instruments. The replacement of traditional paper documets with electronic alternatives is becoming more of a relity within a number of business sectors. The conceptual model of electronic L/Cs presented in this paper is intended to provide a framework for discussing the development of a paperless credit. The TradeCard network provides a business-to-business e-commerce infrastructure that enables buyers and sellers to conduct and settle international trade transactions securely over the Internet. Sellers and Buyers should select the best payment methods of traditional L/Cs, electronic L/Cs, TradeCard, Bank Credit Card etc. in consideration of their business circumstances.

• Journal of Arbitration Studies
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• v.8 no.1
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• pp.3-33
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• 1998

Since the Start of WTO in 1995, world trade volume was substantially increased as much as over $250 billion by lifting the trade barriors This effect brought new problem of increasing disputes. Significantly an ever increasing atention is paid to the Question of means and procedures of settling such disputes by arbtration. The problem of arbitration has indeed become most popular with all those who take interest in legal aspects of international cooperation in various spheres. In practice arbitration seems to renovate its function to take over new disputes arising from electronic transaction such as internet trade. Looking at the actual use of arbitration, its merits than litigation should cover new aspect concerning new kind of claims caused by new type of transaction. The efficient procedure for dispute will help every country save loss of profit by the delay of settlment. This thesis aims to facilitate the appearence of more efficient arbitration procedure for dispute settlment system.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.76
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• pp.103-123
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• 2017

If additional condition in letter of credit is used in malicious way, it affects the international trade transaction in jeopardy. Therefore, it's significant to identify whether additional conditions are malicious or ordinary in the transaction with letter of credit. In normal cases, thanks to lots of useful features as an international payment method, such as security of payment, legal protection, and versatility, a letter of credit is widely used in international trade. However, even with these advantageous features, a letter of credit is complicate and costly to use, compared to other payment methods. Furthermore, due to its principle of independence from underlying contract, a use of letter of credit creates another type of concern for proper handling and needs significant caution upon field use. At some points, malicious additional conditions are used for buyer's advantage in deal making and fraud instance in worst situation. In addition, some countries request malicious conditions against sellers as a non-tariff barrier. Therefore it's extremely important to recognize whether malicious additional condition exists in letter of credit and, if so, how to deal with it. This study delivers the information to distinguish and categorize the malicious conditions in various cases and to figure out how to deal with them for safer trade with less risk.

• International Commerce and Information Review
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• v.11 no.2
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• pp.233-257
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• 2009

The 21st century is witnessing the explosive increase in the usage of internet and international electronic transactions. Due to the unique characteristics of the electronic information, substantial part of such transaction can and do take the form of cross-border transactions. However, there have not been settled appropriate set of rules applicable to the international electronic transactions. Currently, in respect to e-L/C transactions in international trade, there are laws such as Electronic Transaction Basic Act in our country, E-Trade Promotion Act, E-Signature Law, Act on Promotion of Information and Communication Network Utilization and Information Protection and Marine Charter 5 in the Commercial Law. Nevertheless, a complete legislation, that is a uniform rule for e L/C which could support e L/C transactions fully hasn't been established yet. Accordingly, those laws concerned need to improve to regulate e-L/C transactions. The purpose of this paper is to look into the national status for law readjustment to prepare for a new electronic environment and to use appropriately the e-L/C issued by electronic means, and to conduct a comparative analysis on the related regulations to introduce a pertinent laws and propose related regulations to contribute to the making of effective laws to regulate e-L/C.

• The Journal of Industrial Distribution & Business
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• v.9 no.6
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• pp.77-85
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• 2018

Purpose - The purpose of this study is to subdivide trade transaction-centered structure in a logistics/distribution industry system to apply blockchain, to establish and resolve with which types of technology, and to provide policy direction of government institution and technology to apply blockchain in this kind of industry. Research design, data, and methodology - This study was conducted with previous researches centered on cases applied in various industry sectors on the basis of blockchain technology. Results - General fields of blockchain application include digital contents distribution, IoT platform, e-Commerce, real-estate transaction, decentralized app. development(storage), certification service, smart contract, P2P network infrastructure, publication/storage of public documents, smart voting, money exchange, payment/settlement, banking security platform, actual asset storage, stock transaction and crowd funding. Blockchain is being applied in various fields home and abroad and its application cases can be explained in the banking industry, public sector, e-Commerce, medical industry, distribution and supply chain management, copyright protection. As examined in the blockchain application cases, it is expected to establish blockchain that can secure safety through distributed ledger in trade transaction because blockchain is established and applied in various sectors of industries home and abroad. Parties concerned of trade transaction can secure visibility even in interrupted specific section when they provide it as a base for distributed ledger application in trade and establish trade transaction model by applying blockchain. In case of interrupted specific section by using distributed ledger, blockchain model of trade transaction needs to be formed to make it possible for parties concerned involved in trade transaction to secure visibility and real-time tracking. Additionally, management should be possible from the time of contract until payment, freight transfer to buyers through land, air and maritime transportation. Conclusions - In order to boost blockchain-based logistics/distribution industry, the government, institutionally, needs to back up adding legal plan of shipping, logistics and distribution, reviewing standardization of electronic switching system and coming up with blockchain-based industrial road maps. In addition, the government, technologically, has to support R&D for integration with other high technology, standardization of distribution industry's blockchain technology and manpower training to expand technology development.

• International Commerce and Information Review
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• v.5 no.1
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• pp.63-83
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• 2003

This paper's objective is to provide insights about the problems and expansion strategies of electronic trade. Korean small and medium-sized firms have adopted the Internet since the end of 1990s in order to reshape their competitiveness, and it is now being utilized as a major export marketing instrument to develop new customers, save export transaction costs ad facilitate new work processes. However, at present, the use of the internet in the field of trading is limited to the collection of market information, owing to legal, technical and institutional restraints between countries. In addition to that, because firms have the difficulties in making the trade contract through the e-trade system, the negative recognition on its' utility has been spreaded gradually between companies. This is one of the barriers to block the expansion of e-Trade between Korean firms. Therefore, this paper points out the problems of e-trade in the environmental, institutional and strategic view and provides many considerations for establishing the expansion strategy of e-trade by the Korean government and trade supporting institutions.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.14
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• pp.75-102
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• 2000

At present, on increasing to use a computer network and internet network, Internet Trade has been rapidly created and developed in international Electronic Commerce. However, Internet Trade has not been continued to grow up without supporting by a efficient Logistics System. Because it is very important to delivery contract commodities to consumer with speedy, accurate, steady, convenient services. International Logistics System is consisted of demand forecasting, order processing, packing, labeling, shipping documentation and consumer service into three distant phases of transaction, distribution and payment. International Logistics System can be done more efficiently and effectively by using Internet Logistics System. Therefore it is very important to implementing a efficient Internet Logistics System.

• International Commerce and Information Review
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• v.6 no.3
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• pp.159-180
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• 2004

This paper focus on building online trust in electronic commerce between partner that have never traded with each other before, the so-called first trade situation. For this, this paper proposes the model to build trust for conduction first trade transaction in e-trade(so-ca1led Trust Matrix Model : TMM). The TMM is based on the idea that for business to business electronic trade a balance has to be found between anonymous procedural trust, i.e. procedural solutions for trust building, and personal trust based on positive past experiences within for first trade situation, because of the lack of experience in these situations. The procedural trust solutions are related in the notion of institution-based trust, because the trust in the procedural solutions depends on the trust one has in the institutions that issued or enforces the procedure. The TMM can be used as a tool to analyze and develope trust-building services to help organizations conduct first -trade electronic trade.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.68
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• pp.123-148
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• 2015

Central Asian Countries had been independent in 1991 from USSR. Since then it have been increasing foreign trade and investment amount with outside countries including China, Japan, EU and South Korea. Korean enterprises and entities have endeavored to secure plentiful natural resources, oil and gas energy and expand the market share to exporting the consuming and industrial competitive goods and services for those countries. In the case of disputes of commercial transactions and investment, arbitration is regarded as a dispute resolution system which has been preferred in international transactions and investments by the business world. Since the collapse of the USSR, Central Asian Countries have worked to modernize its arbitration law and procedure to conform with international standard rules. Arbitral legislation in Central Asian countries is based on the Model Law as adopted in 1985. However, CIS's legislation systems of arbitration are not satisfied with the international standard in national laws and practices. That is the reason to consider for the specific parliament about arbitration for the dispute resolutions in the commercial transaction and investment between Korean enterprises and CIS. In this article, it is discuss problems and its alternatives in the dispute resolution about the commercial transaction and investment into Central Asian countries including the tendency to the increasing the trade volumes of goods and investment between South Korea and CIS. According to this article, South Korea consider the long term strategy followed the preferred economic relative partnership for business success on commercial transaction and investment with the Central Asian Countries.