• 한국중재학회지:중재연구
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• 제24권1호
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• pp.25-44
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• 2014

Conflict between transnational environmental issues and foreign investment in capital-importing states can be commonly found. Actually, several investor-state dispute arbitration cases like Bilcon v. Canada, S.D. Myers v. Canada, and Metalclad v. Mexico concerned environmental matters. States are worried about their measures for securing the environment might be deemed to go against international investment agreements and foreign investors also are anxious because of excessive regulations. Against this backdrop, stakeholders attempt to strike a balance between securing foreign investment and preserving the environment. This article argues that the investment chapter of the Korea-US FTA tries to solve environment-investment collision in investor-state disputes. Before analyzing the provisions of the investment chapter most relevant to environmental issues, this article points out the most typical types of environmental clauses included in international investment agreements. The investment chapter of the Korea-US FTA has provisions which effectively prevent measures from becoming useless when those measures are legitimate measures relevant to environmental matters. This does not mean that the Korea-US FTA completely solves the conflict between environmental issues and the protection of foreign investment, but still it paves the way for a prudent solution which would hash out this thorny problem.

• 한류연구
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• 제2권2호
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• pp.19-26
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• 2023

This study analyzes the historical events that shaped South Korean Foreign Direct Investment (FDI) and its value to businesspeople. Chapter 2 reviews South Korean FDI literature, highlighting critical studies and a research gap. Chapter 3 strategically separates findings into four major historical events. Every event-from economic liberalization to technical advances-is studied. Chapter 5 offers valuable insights and guidance on how these events affect practitioners. The following chapters aim to promote FDI dynamics understanding and enable businesses and governments to make strategic decisions in South Korea's dynamic economy. Foreign Direct Investment (FDI) history in Korea is significant for practitioners. These events have impacted the nation's economy from the 1960s economic liberalization to modern technology advances. Practitioners must understand these events' far-reaching implications to make informed decisions. The opening up of the economy, chaebols' involvement, financial crises, and high-tech industry emphasis provide excellent lessons. This understanding helps practitioners navigate the global economy, adapt, and be resilient for sustainable economic growth in the Republic of Korea. Thus, practitioners should actively advocate for FDI and economic growth policies with government agencies. Collaboration ensures that the government's strategic vision matches industry practitioners' requirements and goals. By working together, practitioners help create policies that make Korea more appealing to international investors.

• Journal of Korea Trade
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• 제25권6호
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• pp.1-19
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• 2021

Purpose - This paper aims at analyzing the functions and effectiveness of the cooperation agenda in Free Trade Agreements (FTAs), focusing on the cases of Asian countries. This paper estimates the contribution of this agenda to the sustainable development in Asia by providing the 'side payment' of the economic integration that encourages foreign investment and change in global value chains (GVC). Design/methodology - This study analyzes the functions of the cooperation chapter in FTAs by applying the cooperative game theory and reviewing the structures of the related FTAs. Also, as an empirical study, the existing FTA provisions and related development assistant programs in Asia are reviewed in this paper, especially focusing on the FTAs signed by Korea. Findings - Our main findings can be summarized as follows: The drawback of the economic integration, which would be the imbalanced economic benefit, can be redressed by the cooperation chapter in FTAs functioning as a 'side payment'. Indeed, as the examples of Korean FTAs show, more foreign investment and the GVC expansion in Asian countries have been encouraged thanks to the implementation of the cooperation chapters. Originality/value - This paper attempts to find how a legally binding agreement would influence the cooperation agenda in Asia which has never been analyzed despite the increasing number of so-called 'cooperation' chapters in the FTAs.

• 시큐리티연구
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• 제1호
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• pp.135-173
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• 1997

We study on the power of local autonomous fire fighting in Korea. Chapter I which sets out purpose, scope and method, is followed by Chapter Ⅱ , dealing largely with the organization, man-power, equipment, activites of local fire fighting administration and the fire fighting environment. Chapter III made a comparative study on the power of autonomous fire fighting, local budget , fire fighting activities, fire present conditions. It is followed by concluding abservation made in Chapter Ⅳ and Chapter V. We indicated a few disputed points on the power of local autonomous fire fighting and suggested several alternatives to improve our fire fighting administration system. The alternatives suggested are as followes : (1) Reinforcement of the man-power, (2) Regulation of the standard fire fighting power, (3) Improvement of the using on fire fighting facilities tax and state finance, (4) Aplication of the local borrowings, (5) Tax reduction and exemption on the fire fighting equip-ment investment, and so forth.

• 한국콘텐츠학회논문지
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• 제13권12호
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• pp.702-714
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• 2013

한중일은 새로운 경제성장을 위한 고민과 더불어 외자를 유치함에 있어 새로운 도전과 어려움에 직면해 있다. 향후 한중일 FTA는 3국간의 투자를 더욱 촉진 할 것으로 기대되고 있다. 이 논문은 한중일 3국간의 투자에 관한 법적체계와 제약요소 및 투자규칙에 관한 연구를 하였다. 3국간의 무역경제 관계와 투자흐름을 검토하고, 이를 배경으로 3국의 외국투자에 관한 법적체계 및 투자규칙에 관한 검토를 통하여 상대국에 있어서 투자에 관한 주요한 제약이 무엇인지, 향후 한중일 FTA는 3국간의 투자를 더욱 촉진하기 위해서는 한중일 FTA 투자 장(章)에 포함해야 할 것이 무엇인지를 제시하고자 하였다. 한중일 FTA는 3방향의 투자 흐름을 원활화하고 3국간에 투자자와 투자보호를 강화하기위한 효과적인 수단이 될 것이다. 이 점에서 향후 한중일 FTA 투자 장은 내국민 대우, 최혜국대우, 특정조치의 이행요구의 금지 및 경영진이나 이사회의 국적 요건, 자금의 이전, 세이프가드 조치, 수용 및 보상, 손실에 대한 보상, 공정 형평 대우, 투자자 대 국가의 분쟁 해결 및 3국 간 합의 된 다른 요소를 포함해야한다.

• 통상정보연구
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• 제7권4호
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• pp.245-268
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• 2005

The purpose of this paper is to acquire competitiveness faced with a global business so that Korea and China make them put ICT into practice through industrial policy of regional innovation clustering. In the Chapter 2, overall review of industrial spaces theory and the environment in Global-business is conducted. In the Chapter 3, current main economic issue and West Great Development of China are viewed. Chapter 4 proposes models and strategies for the target of regional innovation clustering and phasing in development. The results of this study is that both country should do more long-term cooperation and collecting intensive knowledge for the property of region and preparatory research of regional innovation clustering than do reckless investment.

• 통상정보연구
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• 제15권4호
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• pp.217-240
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• 2013

한 미간 투자환경은 이전의 다자적 투자규범이나 BIT 협상단계 당시보다도 FTA 체결이후 더욱 개방적이고 투자보호 수준 또한 높아졌다. 이러한 성공요인은 무역자유화를 통한 시장 확대를 수반한 투자자유화 및 투자보호 강화와 이로 인한 투자유치 효과의 증대이다. FTA발효로 인한 무역전환효과로 인해 양자 간 투자는 급격히 증가 하였고, 이는 미국과 같은 거대 경제권과의 FTA발효를 통해 우리나라의 FTA네트워크가 확산되는 등 맞춤형 투자유치활동이 확대됨으로써 이루어진 성과이다. 향후 우리나라는 한 미FTA를 통해서 확보한 경쟁국 대비 선점효과를 극대화 할 필요가 있을 것이다.

• 유통과학연구
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• 제14권1호
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• pp.93-102
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• 2016

Purpose - The purpose of paper is studying the static and dynamic side for long-term memory storage properties, and increase the explanatory power regarding the long-term memory process by looking at the long-term storage attributes, Korea Composite Stock Price Index. The reason for the use of GPH statistic is to derive the modified statistic Korea's stock market, and to research a process of long-term memory. Research design, data, and methodology - Level shifts were subjected to be an empirical analysis by applying the GPH method. It has been modified by taking into account the daily log return of the Korea Composite Stock Price Index a. The Data, used for the stock market to analyze whether deciding the action by the long-term memory process, yield daily stock price index of the Korea Composite Stock Price Index and the rate of return a log. The studies were proceeded with long-term memory and long-term semiparametric method in deriving the long-term memory estimators. Chapter 2 examines the leading research, and Chapter 3 describes the long-term memory processes and estimation methods. GPH statistics induced modifications of statistics and discussed Whittle statistic. Chapter 4 used Korea Composite Stock Price Index to estimate the long-term memory process parameters. Chapter 6 presents the conclusions and implications. Results - If the price of the time series is generated by the abnormal process, it may be located in long-term memory by a time series. However, test results by price fixed GPH method is not followed by long-term memory process or fractional differential process. In the case of the time-series level shift, the present test method for a long-term memory processes has a considerable amount of bias, and there exists a structural change in the stock distribution market. This structural change has implications in level shift. Stratum level shift assays are not considered as shifted strata. They exist distinctly in the stock secondary market as bias, and are presented in the test statistic of non-long-term memory process. It also generates an error as a long-term memory that could lead to false results. Conclusions - Changes in long-term memory characteristics associated with level shift present the following two suggestions. One, if any impact outside is flowed for a long period of time, we can know that the long-term memory processes have characteristic of the average return gradually. When the investor makes an investment, the same reasoning applies to him in the light of the characteristics of the long-term memory. It is suggested that when investors make decisions on investment, it is necessary to consider the characters of the long-term storage in reference with causing investors to increase the uncertainty and potential. The other one is the thing which must be considered variously according to time-series. The research for price-earnings ratio and investment risk should be composed of the long-term memory characters, and it would have more predictability.

• 무역상무연구
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• 제38권
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• pp.181-226
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• 2008

The purpose of this paper is to describe the settling procedures of the investor-state disputes in the FTA Investment Chapter, and to research on the international arbitration system for the settlement of the investor-state disputes under the ICSID Convention and UNCITRAL Arbitration Rules. The UNCTAD reports that the cumulative number of arbitration cases for the investor-state dispute settlement is 290 cases by March 2008. 182 cases of them have been brought before the ICSID, and 80 cases of them have been submitted under the UNCITRAL Arbitration Rules. The ICSID reports that the cumulative 263 cases of investor-state dispute settlement have been brought before the ICSID by March 2008. 136 cases of them have been concluded, but 127 cases of them have been pending up to now. The Chapter 11 Section B of the Korea-U.S. FTA provides for the Investor_State Dispute Settlement. Under the provisions of Section B, the claimant may submit to arbitration a claim that the respondent has breached and obligation under Section A, an investment authorization or an investment agreement and that the claimant has incurred loss or damage by reason of that breach. Provided that six months have elapsed since the events giving rise to the claim, a claimant may submit a claim referred to under the ICSID Convention and the ICSID Rules of Procedure for Arbitration Proceedings; under the ICSID Additional Facility Rules; or under the UNCITRAL Arbitration Rules. The ICSID Convention provides for the jurisdiction of the ICSID(Chapter 2), arbitration(Chapter 3), and replacement and disqualification of arbitrators(Chapter 5) as follows. The jurisdiction of the ICSID shall extend to any legal dispute arising directly out of an investment, between a Contracting State and a national of another Contracting State, which the parties to the dispute consent in writing to submit to the ICSID. Any Contracting State or any national of a Contracting State wishing to institute arbitration proceedings shall address a request to that effect in writing to the Secretary General who shall send a copy of the request to the other party. The tribunal shall consist of a sole arbitrator or any uneven number of arbitrators appointed as the parties shall agree. The tribunal shall be the judge of its own competence. The tribunal shall decide a dispute in accordance with such rules of law as may be agreed by the parties. Any arbitration proceeding shall be conducted in accordance with the provisions of the Convention Section 3 and in accordance with the Arbitration Rules in effect on the date on which the parties consented to arbitration. The award of the tribunal shall be in writing and shall be signed by members of the tribunal who voted for it. The award shall deal with every question submitted to the tribunal, and shall state the reason upon which it is based. Either party may request annulment of the award by an application in writing addressed to the Secretary General on one or more of the grounds under Article 52 of the ICSID Convention. The award shall be binding on the parties and shall not be subject to any appeal or to any other remedy except those provided for in this Convention. Each Contracting State shall recognize an award rendered pursuant to this convention as binding and enforce the pecuniary obligations imposed by that award within its territories as if it were a final judgment of a court in that State. In conclusion, there may be some issues on the international arbitration for the settlement of the investor-state disputes: for example, abuse of litigation, lack of an appeals process, and problem of transparency. Therefore, there have been active discussions to address such issues by the ICSID and UNCITRAL up to now.

• 한국중재학회지:중재연구
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• 제23권2호
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• pp.55-79
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• 2013

As arbitration becomes an increasingly popular mode of resolving disputes, neighboring industries begin to take notice. This interest is reflected in the increasing utilization of third party funding in international arbitration claims. In this regard, the third party funding industry appears particularly interested in investor-state arbitration claims because they typically involve considerable claim amounts and substantial legal fees. To examine this trend more closely, this paper, firstly, examines the investor-state arbitration more precisely in Chapter II. In Chapter III, this study continues to examine some legal issues which can arise as a result of a conflict of interest between the parties to the funding agreement including, inter alia, 1) a dispute in which the funder terminates the agreement during the arbitration proceedings, 2) a dispute in relation to a funder's intervention in arbitration proceedings, and 3) a dispute on the responsibility for adverse costs orders, if any. This paper further identifies major legal issues which can arise in relation to 1) disclosure of existence of the funding agreement, 2) attorney-client privilege. Lastly, in Chapter IV, this paper provides some lessons from an in-depth case study on third party funding agreements and solutions to avoid and to solve prospective disputes in the future.