• Journal of Institute of Control, Robotics and Systems
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• v.17 no.4
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• pp.382-387
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• 2011

In this paper, a LBCC (Latter Bank Cooling Control) for the high strength steel is proposed to obtain the desirable temperature and the property of the material along the longitudinal direction of the steel on the ROT (Run-Out Table) process. A cooling valve is modeled to analyze the response of the ROT banks. The control concept is derived from a field data, a valve model considering the valve response and a TTT (Time-Temperature Transformation) diagram. The proposed control is verified from the simulation results under the various carbon quantities. It is shown through the field test of the hot strip mill that the deviation of the CT (Coiling Temperature) is considerably decreased by the proposed temperature control.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.46
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• pp.133-158
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• 2010

Independent guarantee is a creation of the need from the both sides, i.e. the applicant (principal debtor) and the beneficiary (creditor). The former used to have to deposit cash in favor of the beneficiary in case of his default, which laid a burden on his liquidity while the latter still wanted to have the equivalent to cash. Independent guarantee satisfied the both parties by freeing the applicant of a deposit and maintaining the beneficiary's right at the same time. The fact that independent guarantee has three payment mechanisms is not widely known to the public. They are (i) payment on first demand, (ii) payment upon submission of third-party documents, (iii) payment upon submission of an arbitral or court decision. From the applicant's point of view, the order in his favor is (iii), followed by (ii) and (i). As there shouldn't be a case where one party is at a disadvantage against the other, useful insight is being sought for the benefit of the applicant. First, the applicant can offer his intention to provide a payment mechanism (ii) or (iii) rather than (i) if he must deliver it. Second, if the beneficiary still wants to have (i) and the applicant is in a position not to reject it, the latter should thoroughly check any provisions that may work against him later. Third, the applicant could use counterbalancing provisions in underlying contract to cope with protective clauses in the guarantees. Forth, the applicant should review the beneficiary's sincerity to prevent unfair calling risks. The applicant may use an ECA(Export Credit Agency) in his country to which he can transfer not only unfair calling risks, but also political risks. On the other hand, a bank needs to keep the following advice in mind. The foremost important thing for the bank not to forget is that it provides a guarantee as a service provider, not as a responsible party for the feasibility of the project, etc. Credit risk of the applicant should require the greatest attention when issuing a guarantee: the bank should look into the possibility that it can procure immediate reimbursement from its customers after payment to the beneficiary. Second, the applicant's ability to complete the project should be reviewed by checking its track records, techniques and reputation, etc. Third, the bank may also use an ECA to cover the beneficiary's unfair calling risks as well as political risks. In the case of Korea, as Korea Export Insurance Corporation(KEIC) can cover all the risks mentioned above, the bank could use its service called 'Export Bond Insurance.' What's better for the bank is that ECA cover can enhance the bank's asset quality by putting it zero on its risk weighted asset.

• Asian Journal of Business Environment
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• v.5 no.2
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• pp.5-13
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• 2015

Purpose - This paper aims to study the main selection criteria for Islamic banks in Indonesia, and to compare them with those for conventional banks. Research Design, Data, and Methodology - This study employs an exploratory approach and a natural experimental design with Factor Analysis and two independent sample tests as statistical analysis methods. A total of 363 questionnaires were distributed to three groups of bank customers-customers of Islamic and conventional banks individually, and those of both banks together (121 respondents in each group). Results - The research shows that service appears to be the most important factor in selecting Islamic banks, in addition to other emotional and rational factors. However, this service cannot be expressed as the Islamic banks' advantage compared to conventional banks, because the latter's customers also perceived service as the most important factor. The parametric mean of importance of service for both Islamic and conventional banks' customers is insignificantly different. Conclusion - Customers of both conventional and Islamic banks have a similar degree of importance for convenience, price, and service.

• International Commerce and Information Review
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• v.14 no.4
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• pp.433-456
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• 2012

The confirming bank undertakes to make payment to the beneficiary, provided that a complying presentation is made and complies with its confirmation. In case L/C fraud is evident, though, the confirming bank as well as the issuing bank does not have the obligation to make payment. That is, the confirming bank does not take the risks involving documentary fraud. The confirming bank cannot exercise the right to recourse toward the beneficiary or the nominated bank when the issuing bank finds the discrepancies which the confirming bank has not noticed. This is because under UCP600, the issuing bank or the confirming bank cannot refuse to make payment with the cause of documentary discrepancy after 5 banking days following the presentation of documents. Even if the issuing bank accepts the discrepant documents following the confirming bank's request to do so, the confirming bank does not have the responsibility for the confirmation. When under Usance Negotiation Credit, the confirming bank acts as the nominated bank, the confirming bank should make payment in no time if the beneficiary presents complying documents. Therefore, unless the confirming bank intends to make immediate payment, they should consider using Deferred Payment or Acceptance L/C in Usance Credit. It is also safer for the beneficiary to have the reimbursing bank's undertaking to the reimbursement than just have confirmation of the credit because in the latter case they may not have full payment due to disputes regarding discrepancies of the documents even if they have confirmation of the credit.

• Journal of Arbitration Studies
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• v.22 no.1
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• pp.65-88
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• 2012

Even though there are some discrepancies in detail with the legal characteristic of the issuing bank's notice to the beneficiary of opening of the letter of credit, article 25 of "the Korean Private International Act(hereunder, 'KPIA')" can be applied to the legal relation between the issuing bank and the beneficiary or the negotiating bank. According to article 26 of the KPIA, if there is no agreement between the issuing bank and its opponent party as to the governing law issues, a state's law which has the closest relationship with the subject case may be applied. In the latter case, given the facts that the issuing bank plays important roles in every phasis of the sale of goods by the letter of credit, a law of place where the issuing bank's business premises is situated(the $lex$ $situs$) can be the applicable law. Meanwhile, "the Korean Supreme Court(hereunder 'KSC')" held that the beneficiary or the negotiating bank can claim any damages arising due to the refusal or deferred payment of the issuing bank, and the law which governs the above mentioned situation is the same law that is applicable to the legal relation between the issuing bank and the beneficiary or the negotiating bank. The main reason of the KSC's ruling is that the nature of the legitimate interest rate which is stated in article 3 of "the Act on Special Cases concerning Expedition etc. of Legal Proceeding(hereunder 'ASCELP')" is substantial matters, not procedural. Taking into account, however, that the main object of ASCELP lies in expedition of legal proceeding, prompt realization of people's rights and duties, and prevention of delayed legal proceeding, it is recommendable that ASCELP, instead of the law applicable to the legal relation between the issuing bank and the beneficiary or the negotiating bank, should be applied to the cases in which the malicious debtor's only and main purpose is delaying the legal proceedings. On the other hand, even if the issuing bank's duty of examination of the documents which were tendered by the beneficiary or the negotiating bank is restricted to the formality and strict conformity of the documents and not the substantiality of the documents, the issuing bank still has to examine the documents with due diligence that is required to the banks whose main business is sales of documents, not the real goods. In this regard, under the circumstances where the document lacked the regularity and/or the formality on its face because of the forgery of the document and where it was expected that an ordinary banker might have easily found any faults with the document, the issuing bank must compensate any parties for damages when it pays money without due diligence as a banker who engaged in the sales of documents.

• East Asian Economic Review
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• v.22 no.3
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• pp.307-336
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• 2018

This paper proposes a monetary aggregate "Liquidity" that could serve as a useful indicator for gauging the appropriateness of monetary policy. If liquidity rises above a certain threshold, it is signaling that monetary policy is losing traction due to structural and other impediments even when the inflation gap remains open. This indicator supplements the financial cycle approach but adds value by providing a benchmark that is derived from the national account, and not based on its own trend. Over the last two decades, each time this measure rose above the threshold range, it was followed by a decline in GDP growth. The latter was greater when accompanied by a high physical asset value to GDP, e.g., an elevated property market.

• East Asian Economic Review
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• v.21 no.1
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• pp.29-58
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• 2017

The third pillar of the Basel II highlights the role of market discipline in easing the existing pressure on traditional monitoring measures like capital requirement and government supervision. This study test the effectiveness of market discipline in inducing prudential risk management practices among the East Asian banks over the 1995 to 2005 period. Market discipline is measured using information disclosure and interbank deposit holdings. We find that only the latter is an effective market discipline tool. However, the former becomes effective when market concentration is higher. We find that government owned, foreign owned and recapilatised banks are subject to market disciplining when disclosure in taken account but the opposite is true when interbank deposits is taken into account. Finally, we find that banks that disclose more risk related information hold more capital against their non-performing loan. The implications of the findings are discussed.

• Parasites, Hosts and Diseases
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• v.57 no.6
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• pp.639-645
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• 2019

In the present study, a Spirometra species of Tanzania origin obtained from an African leopard (Panthera pardus) and spotted hyena (Crocuta crocuta) was identified based on molecular analysis of cytochrome c oxidase I (cox1) and NADH dehydrogenase subunit I (nad1) as well as by morphological observations of an adult tapeworm. One strobila and several segments of a Spirometra species were obtained from the intestine of an African male leopard (Panthera pardus) and spotted hyena (Crocuta crocuta) in the Maswa Game Reserve of Tanzania. The morphological characteristics of S. theileri observed comprised 3 uterine loops on one side and 4 on the other side of the mid-line, a uterine pore situated posterior to the vagina and alternating irregularly either to the right or left of the latter, and vesicular seminis that were much smaller than other Spirometra species. Sequence differences in the cox1 and nad1 genes between S. theileri (Tanzania origin) and S. erinaceieuropaei were 10.1% (cox1) and 12.0% (nad1), while those of S. decipiens and S. ranarum were 9.6%, 9.8% (cox1) and 13.0%, 12.6% (nad1), respectively. The morphological features of the Tanzania-origin Spirometra specimens coincided with those of S. theileri, and the molecular data was also consistent with that of S. theileri, thereby demonstrating the distribution of S. theileri in Tanzania. This places the leopard (Panthera pardus) and spotted hyena (Crocuta crocuta) as new definitive hosts of this spirometrid tapeworm.

• Economic Analysis
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• v.26 no.3
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• pp.71-133
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• 2020

The Bank of Korea began its operation on June 12, 1950, with the Bank of Korea Act established a month or so earlier. Thus was first introduced to Korea modern central banking in the real sense of the word. The Bloomfield Mission, consisting of A. Bloomfield and J. Jensen of the Federal Reserve Bank of New York, spent about six months drafting a bill, which finally became the Bank of Korea Act. Little has been known yet about the process leading to the creation of the Mission and the historical context surrounding it, except that F. Tamagna of the Federal Reserve Board made in his capacity of the ECA's representative the offer of technical assistance to the Korean government. This paper attempts to dig deeper into relevant historical records and literature to fill these gaps. As it happened, the confrontation between the US and the USSR was accelerating towards the end of 1940s. The paper's new findings include that the Bloomfield Mission was, together with the ECA Mission to Korea, a product of the then US foreign policy (Cold War policy) and that the former Mission's technical assistance was conceived and provided all along as part of the inflation stabilization program pursued by the latter Mission. The Bloomfield Mission was after all a historical necessity. Next, the paper examines the changes added to the bill during its journey to becoming the Bank of Korea Act enacted in May 1950, presenting a review of the Act. The paper further evaluates the Act in terms of legal persistence, finding that the revised Act currently in force still substantially resembles the Act enacted 70 years ago from now. Finally in order is a brief discussion on those factors which seem to have contributed much to such persistence and thus apparent excellence of the Act enacted.

• Journal of Korean Society of Water and Wastewater
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• v.24 no.3
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• pp.341-349
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• 2010

It is well known that manganese is hard to oxidize under neutral pH condition in the atmosphere while iron can be easily oxidized to insoluble iron oxide. The purpose of this study is to identify removal mechanism of manganese in the D water treatment plant where is treating bank filtered water in aeration and rapid sand filtration. Average concentration of iron and manganese in bank filtered water were 5.9 mg/L and 3.6 mg/L in 2008, respectively. However, their concentration in rapid sand filtrate were only 0.11 mg/L and 0.03 mg/L, respectively. Most of the sand was coated with black colored manganese oxide except surface layer. According to EDX analysis of sand which was collected in different depth of sand filter, the content of i ron in the upper part sand was relatively higher than that in the lower part. while manganese content increased with a depth. The presence of iron and manganese oxidizing bacteria have been identified in sand of rapid sand filtration. It is supposed that these bacteria contributed some to remove iron and manganese in rapid sand filter. In conclusion, manganese has been simultaneously removed by physicochemical reaction and biological reaction. However, it is considered that the former reaction is dominant than the latter. That is, Mn(II) ion is rapidly adsorbed on ${\gamma}$-FeOOH which is intermediate iron oxidant and then adsorbed Mn(II) ion is oxidized to insoluble manganese oxide. In addition, manganese oxidation is accelerated by autocatalytic reaction of manganese oxide. The iron and manganese oxides deposited on the surface of the sand and then are aged with coating sand surface.