• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.74
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• pp.25-54
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• 2017

Among various export financing, Assignment of Receivables is very important. Various countries make use of this method. But Korean law system had shortage of International legal system. This paper looks into Opposing Rights on Assignment of Receivables relation to legal system. And this paper analyze not only detail Korean civil law system about Opposing rights on Assignment of Receivables but also comparative other International system. There are UNIDROIT Principles and United Nations Convention on the Assignment of Receivables in International Trade. Especially, Korean civil law system of Opposing rights on Assignment of Receivables compares UNIDROIT Principles system of Opposing Rights on Assignment of Receivables or United Nations Convention on the Assignment of Receivables in International Trade of Opposing Rights on Assignment of Receivables. In the context, This paper compares Korean civil law system about Assignment of Receivables with International standard rule about Assignment of Receivables. This is good for the commercial practice party in terms of financing and receivable assignment. Thus this paper will make direction to International Trade Practicer. There are argument on method of having an action or manual about international trade practice. The purposes of this are to examine revitalizing on Assignment of Receivables. And this paper deals with improvement of International Commercial Activation.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.49
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• pp.89-109
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• 2011

Among various export financing, forfaitng and factoring give a comfort to exporters as those special financing schemes are extended to them on a without recourse basis. This is good for the exporters in terms of financing and risk cover of buyer or LC issuing banks. To enjoy this benefit, the SME exporters should, however, know the risks involved in sales contract. For example, if the export and importer set Korean law as governing law in the sales contract especially for open account exports, the exporter's receivables might be not welcome by factors according to provisions of Korean Conflict Law and it's application. Those regulations tell that the factor's position would be unstable when the sales contact limit exporter's assignment of receivables to the factor when the sales contract is subject to Korean law. Also the exporters should know related regulation of importer which might affect the assignment of receivables as well. This paper suggests the Korean exporters take internationally recognized agreement/convention such as UNI|DROIT Convention on International Factoring, UN Convention on the Assignment of Receivables in International Trade.

• Korea Journal of Hospital Management
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• v.19 no.3
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• pp.1-10
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• 2014

The purpose of this study was to present base data for an efficient management of medical expenses at the hospital management by doing grasp of status of medical expenses from seamen's insurance by voluntary agreements. A Object of study is analyzing the data of medical expenses occurred from the total number of 2,699(inpatients 507, outpatients 2,192)cases who were covered by seamen's insurance at a general hospital which is located in Pusan Metropolitan City during 48 months from January 1, 2009 to Dec 31, 2012. The main results of this study are as follows: accrual medical expenses are the ship management companies member of P&I insurance is the most highest but share of receivables are the Korean ocean-going companies member of P&I insurance is the most highest, therefore, Korean ocean-going companies focus strictly than the payments from accounts receivable management should be considered to reduce the occurrence and concerning the turn around period of medical receivables are 4 months to 6 months during a research period. Therefore, it will be needed for managers of hospitals to prepare differentiated management based on the characteristics of each in insurer and to have recovery strategies of uncollected medical expenses.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.12 no.6
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• pp.13-24
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• 2017

The purpose of this study is to examine the effect of the management of receivables on the management performance of micro manufacturing industries. The results of the survey are as follows. First, among the factors of management of pre- and post-trade receivables in the micro manufacturing industries, management organization and regulations, contract execution management, bad debt control, which are the subordinate factors of credit control, are positive (+) significant effect on stability. In terms of profitability, management organizations and regulations, which are subordinate factors of credit control management, have a positive (+) significant effect on profitability. The recovery management, which is a factor of management of post - receivable receivables, did not have a significant effect on the stability and profitability of financial management performance. Second, the effect of financial performance on organizational satisfaction is positively related to stability, while profitability has no significant effect on organizational satisfaction. The implication of this study is that pre - trade receivables management is more important than post - trade receivables management in the management of accounts receivables of micro manufacturing industries. Proactive credit management refers to the procedure of establishing and managing personal guarantees and physical guarantees in order to smooth the execution of the obligations at the same time as the contract is concluded through processes such as credit investigation, analysis and evaluation, and sales decision before the contract is concluded. Post receivables management based on the assumption of default is a receivables management procedure from receipt of receivables that are already defaulted to bad debts to bad debt processing. If the collection of receivables is delayed or bad debt is increased, Furthermore, a corporation may be subject to bankruptcy risk (insolvency by paper profits). Therefore, it is meaningful that this study suggests direction to induce change of contract type in advance by understanding the possibility of settlement of accounts receivable and recovery of bad debts within the day of transition in case of contract of micro manufacturing industries.

• The Korean Journal of Health Service Management
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• v.9 no.1
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• pp.57-66
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• 2015

This study was performed to provide efficient fund managing plans for hospitals by looking into the management of medical fees for accident insurance. Car insurance, industrial accident insurance and seamen's insurance at a general hospital which is located in Busan during 29 months from January 1, 2009 to May 31, 2011 were assessed. The research data is the total number of 6,293 cases, including 2,251 car insurance cases, 2,350 industrial accident insurance cases, and 1,692 seamen's insurance cases. There were some significant differences found, as car insurance and seamen's insurance, including accident insurance, are types of insurance for which employers or traffic accidents offenders shall be the final premium payer. In addition, medical examination fees or premium payers are applied under their respective related laws. The findings suggest that it is necessary for managers of hospitals to prepare differentiated management schemes based on the characteristics of each insurer and schemes to ensure proper recovery strategies of uncollected medical account receivables.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.1
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• pp.295-304
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• 2021

This study aims to identify and analyze the impact of internal factors on business efficiency of steel firms in Vietnam. The article uses data collected from the financial statements of 26 steel firms operating in Vietnam between 2012 and 2019. With the application of E-view software in quantitative analysis to build regression models on the table data (panel data), and the study has built a regression model identifying the relationship and impact level of internal factors affecting business efficiency of steel firms in Vietnam. In the study, the dependent variable is business efficiency, determined by the profit after tax on the firm's assets. The independent variables are firm size, growth rate, capital structure, ratio of long-term assets, receivables management, and solvency. The research results show that the four factors of firm size, growth rate of assets, receivables management, and solvency have a positive impact on business efficiency, while two factors including capital structure and ratio of long-term assets do not affect business efficiency of enterprises. The results of this article are very useful for corporate executives in general and for financial managers in particular, helping managers make the right financial decisions for the company to promote business efficiency of the company.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.43
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• pp.143-168
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• 2009

International Factoring transaction in Korea is different from that of financially advanced countries in terms of legal system and commercial and financial practices. As for the domestic factoring, Korean factors are only involved in advances often on a with recourse basis. With regard to the international factoring, Korean factors do not accommodate whole account receivables from clients (suppliers) but handle on a selective basis. Among Korean banks, KEXIM (Export and Import Bank of Korea) is sole factor for international transactions. Currently KEXIM and several foreign banks handle factoring provide factoring services with limitation to invoice discounting which is largely extended to large corporate names. Therefore this is far different from factoring in Europe and Americas designed for small exporters with non recourse advances. In respect of legal environment, receivable assignment is subject to debtor' acknowledge or approval of such assignment according to Civil Law Act. To remove the legal obstacles, Korean government have prepared new law which allows factor's own notification of assignment (and thereby reimbursement right) to debtor with some evidences.

• The Journal of the Korea Contents Association
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• v.17 no.6
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• pp.98-105
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• 2017

The medical institution considers liability management problems as a direct factor in managerial risks, such as bankruptcy. Cash Flow provides useful information to necessary funds and predicting bankruptcy. The study for 24 general hospitals and 23 hospitals, a regression analysis was performed to determine the impact of cash flows on the debt repayment capability, a multivariate discrimination analysis was conducted to find out how to manage cash flow for the risk posed by debt. The analysis results, For general hospitals, the level of debt repayment capability was done to net income, increase of payables from operating activities and decrease of patient receivables and inventories from operating activities. If there is no dept repayment capability, it is necessary to increase the net income, increase the expenses not involving cash outflows, decrease of patient receivables and increase of payables from operating activities. For hospitals, the level of debt repayment capability was done to net income, increase of expenses not involving cash outflows and payables from operating activities, decrease of income not involving cash inflows, decrease of patient receivables and inventories from operating activities. If there is no dept repayment capability, it is necessary to increase of payables from operating activities.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.71
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• pp.59-84
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• 2016

Among various export financing, Receivable Assignment is very important. Various countries make use of this method. But Korean law system have shortage of legal structure. This paper looks into Receivable Assignment relation to legal structure. And this paper analyze not only detail Korean civil law system about bond and receivable but also comparative other civil law system. Especially, Korean civil law of bond compare Germany civil law of bond or Japanese civil law of bond. In the context, This paper compares Korean civil law system about bond with International standard rule about bond. For example, It is UN convention on the Assignment of Receivables in International Trade and Principles of International Commercial Contract(PICC). This is good for the commercial party in terms of financing and receivable assignment. Thus this paper will establish Korean legal system direction. There are argument on method of making article and modifing article. The purposes of this paper is to examine revitalizing of Receivable Assignment. And this paper deals with improvement of International Commercial Activation.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.44
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• pp.85-107
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• 2009

L/C allows the exporter to have a bank's payment undertaking against shipping documents required by L/C. This means that the exporter can take export proceeds from a L/C issuing bank regardless of importer's payments and therefore the L/C better mitigate importer's credit risk compared to remittance and collections. Recently the use of L/C has been on down trend in line with increasing use of T/T, causing a big change of payment system. This tells that the payment method change in Korea is positive as the change also happens same in developed countries. This however gives more buyer's credit risk to exporters and therefore a systematic solution to this negative effect is required. In Korea, export credit insurance has been widely used to cover the buyer's credit risk. But the export credit insurance is limited because of lack of government's financial support and strict evaluation of buyer and exporter. Now Korea is ranked 10the largest trading country and therefore the exporters shall find another source for credit risk protection elsewhere. And as such this paper suggest International Factoring as a tool for the credit risk protection. The International Factoring gives advantages to the exporter in terms of credit protection and advances by purchasing account receivables on a without recourse basis.