• Korea Trade Review
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• v.47 no.1
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• pp.131-144
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• 2022

This study primarily concerns the Model Contract for International Sale of Manufactured Goods recently published by International Chamber of Commerce in 2020. To this end, this study examines the importance of the ICC model contract and its main characteristics, and considers in what form the contract is composed of and the scope of its application by classifying it according to the object of the contract, the subject and type of the transaction. In addition, this study divides the main contents of the ICC model contract into special conditions and general conditions, and attempts to scrutinize details of each condition in connection with the United Nations Convention on Contracts for International Sale of Goods(1980) as a governing law taken by the ICC model contract. Furthermore, this study puts forward, on the basis of the detailed examination of main conditions of ICC Model Contract, practical implications on what the parties to the contract should be aware of when using the ICC model contract.

• The Journal of Bigdata
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• v.4 no.2
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• pp.115-126
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• 2019

There have been many discussions on export indices in trade exports, but there is no definite trade export index which can be explained by objective indicators. Korea International Trade Association (KITA), Korea Trade-Investment Promotion Agency (KOTRA), etc., but we are currently in the process of thinking about ways to express the capabilities of exporting companies. In this study, we constructed the AI data sets by setting the activity indicators such as the size of the company and the credit score, the number of transaction customers, the number of transactions, the number of items, the transaction volume, and the transaction period as features, Lightgbm. Using the Graph Neural Network as an industrial cluster classification model, the export live index which expresses the exportable capacity among companies, items, and business groups was calculated. This includes the past activity of the company from the current calculating index Objectivity.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.54
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• pp.99-122
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• 2012

According to the United Nations Convention on the International Sale of Goods, the Seller must deliver the goods, hand over any documents relating to the them and transfer the property the to the goods as required by the contract, and buyer must pay the price for the goods and take delivery of them as required by the contract. In particular, the seller provides the documents is important. If the documents are discrepancies in credit, the beneficiary may not receive the payment. So It is important to study on conditions of documents in international trade. Documents provided by the seller shall be determined by express terms. If there is no agreement on the express terms, it shall be determined by the implied terms or governing law terms. In practice Seller shall provide the documents are as follows, For example, transport documents, commercial invoice, certificate of origin, insurance policy, packing list, inspection certificate etc. As stated above if it can not be determined by express terms, it is determined by the implied terms. In international trade, leading to the implied terms is incoterms(R) 2010 and UCP 600. Incoterms(R) 2010 define the seller must provide the goods and the commercial in conformity with the sales contract and any other evidence of conformity that may be required by the contract and UCP 600 are rules that apply to documentary credit. This paper, the practical utility between Incoterms(R) 2010 and UCP 600 is studied.

• International Commerce and Information Review
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• v.18 no.3
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• pp.181-201
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• 2016

In this study, transaction cost approach was applied to analysis on direct export determinants of SMEs by using key attributes of transactions, asset specificity, environmental uncertainty, frequency and marketing capability, with a parameter of opportunism. Typical Transaction Cost Analysis theory explains that when transaction cost with business channels(whether it is for buy or sell) increase, the firms integrate the channels. So it is a choice made by firms regarding direct versus indirect channels. The theory was extended to a model of choice of institutional form of direct or indirect export by a norm of opportunism in this empirical study. The survey result showed that lower level of asset specificity and marketing capability or higher level of environmental uncertainty were likely to expose indirect exporters to higher level of opportunism of direct exporter. And we also saw that indirect exporters were likely to choose direct export chanel when opportunism of exporters was higher. From the standpoint of theory, we can say that the basic propositions of the Transaction Cost Analysis, except the attribute of frequency, are supported. This study result could provide a profiling of target business areas and firms for government's policy on direct export promotion of SMEs.

• International Commerce and Information Review
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• v.14 no.3
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• pp.453-479
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• 2012

The increase in international trade is clearly reflected by litigation and arbitration. Despite the importance of international commercial transaction, until very recently little was known about how the law interacts with actual practice. The CISG obviously plays an important role, but we are concerned with using choice of law to resolve issue that the CISG leaves unresolved. The case law UPICC is now accessible by means of UNILEX, the database on international case law that focus on CISG cases. The courts and arbitration tribunals throughout the world are developing a growing body of international case law on issues not resolved by the CISG, though arising from transactions to which the CISG applies. The application of the CISG is obligatory due to its nature as hard law an international convention. However, UPICC are only restatements and more flexibility, comprehensive instrument than CISG. This article offers to promote the UPICC application from their present status as a mere soft law instrument through analysing UNILEX cases.

• International Commerce and Information Review
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• v.9 no.3
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• pp.107-129
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• 2007

In 1990s, both development of internet and digital economy would make new products such as digital goods. Recently, digital goods composed of softwares, digital contents, and digital services have grown up rapidly in the world market. Characteristics of goods and transaction forms in the international trade of digital goods is different from those of traditional goods. Thus, this difference would appear a new risk that did not exist in the international trade of traditional goods. Identification and confirmation about unique export risks of digital goods would be necessary to the increase of export of digital goods needs; however, in spite of the importance, very few studies have been based on the export risks of digital goods particularly in research on the relationships between export risk management and export performance. This study classifies the types of export risks based on the previous studies, and examines the relationship between both management and identification of export risks.

• Journal of Korea Trade
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• v.23 no.6
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• pp.113-130
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• 2019

Purpose - This paper investigates applicability of blockchain based bill of lading under the current legal environment. Legal requirements of electronic bill of lading will be analyzed based on the Rotterdam Rules and recently enacted UNCITRAL Model Law on Electronic Transferable Records. Using comparative analysis with the previous registry model for electronic bill of lading, this paper examines the advantages of blockchain based bill of lading. Design/methodology - This research reviewed previous efforts for dematerializing bill of lading with its limitation. Main features of blockchain technology which can make up for deficiencies of registry model also be investigated to analyze whether these features can satisfy the requirements for the legal validity of the negotiable electronic transport record or electronic transferable records under the Rotterdam Rules and the MLETR. Findings - Main findings of this research can be summarized as follows: Blockchain system operated in an open platform can improve transparency and scalability in transfer of electronic bill of lading by assuring easy access for transaction. Distributed ledger technology of blockchain makes it more difficult to forge or tamper with transactions because all participants equally shares identical transaction records. Consensus mechanism and timestamp in a blockchain transaction guarantee the integrity and uniqueness of a transaction. These features are enough to satisfy the requirements of electronic transferable records under the Rotterdam Rules and MLTER. Originality/value - This study has significance in that it provided implications for the introduction of electronic bill of lading by analyzing whether the blockchain based electronic bill of lading model meets the legal requirements under the current legal system prepared prior to the introduction of blockchain technology, and by presenting the advantages of the blockchain based bill of lading model through comparative analysis with the existing registry model.

• International Commerce and Information Review
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• v.10 no.1
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• pp.97-115
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• 2008

This paper is to review how Korean trading companies perform and promote the digital transformation through the e-networking with global market, and how much they extend the volume of export, and make the company grow inward or outward in order to enhance the effects of economic growth in Korea. It is suggested that global agreement on e-Trade(or u-Trade) should be made in order to expand the global e-networking practices and to ensure transferring of transport documents(or business documents). Moreover, it also suggested that networking on the global trading partners such as government authorities, diplomatic offices abroad, overseas Koreans, students studying abroad, Korean merchants abroad, etc. should be made in single window for improving and upgrading the image of Korean trading companies. By making of global e-network platform between overseas business partners, trading companies are able to expect various synergy effects such as improving the satisfaction of their customers, promoting the global transactions, reducing the operation and transaction cost, helping fording overseas buyers, and extending export volume and sales profit, etc. Customers can also obtain the information about trading goods easily and rapidly, and cut down the transaction stage using information exchange with partners. All of the trading partners in the world can maintain their business partnership as long as they use the global e-network.

• International Commerce and Information Review
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• v.19 no.1
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• pp.191-210
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• 2017

The old sources of competitive edge and value added were land, labor, and capital. In today's knowledge-based economy in the 21st century, technology is attracting attention as a new engine of growth. That paradigm shift of world economy has resulted in the global spread of technology transfer and the gradual increase of trade of intangible goods including patents and know-how as well as tangible goods in international trade. An international license agreement is a representative form of technology transfer. In license agreements, the providers of technology keep their ownership of technology, allow the implementation of technology to the users of technology only for a certain period of time, and receive loyalty as a reward. Economic profit through such technology trade can be realized with the smooth implementation and termination of agreement. International license agreements are different from sales contracts, which represent international business transaction based on mutual obligation, in many aspects in that they target intangible goods of technology and aim for rent for a certain period of time. This study thus set out to examine issues that could be controversial in the main and individual obligation of the parties in international license agreements and provide implications helpful for the prevention of disputes in advance.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.60
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• pp.109-139
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• 2013

This paper is to review the Uniform Rules for Bank Payment Obligations(URBPO 750E) which were developed by the Banking Commission of the International Chamber of Commerce and to present the implications. The rules were unanimously adopted during Lisbon meeting of the ICC Banking Commission on April 17th, 2013 and taken effect as of July 1, 2013. A BPO is an irrevocable undertaking given by an Obligor bank to a Recipient bank to pay a specified amount under the condition of a successful electronic matching of data or acceptance of mismatches. It is an alternative instrument for trade settlement, designed to complement existing solution and not to replace them(ICC,750E). The BPO enables banks to provide sellers and buyers with advanced risk mitigations and enhanced financing services. The BPO will improve trade processing efficiency such as increased transaction times, reduced handling cost, and others. It is believed that the BPO will have an important role to play in supporting the development of Supply Chain Finance in international Trade. So, This study will review the provisions and application of the URBPO 750E based on documentary materials including swift com and icc.org and so on.