• Journal of the Korean Society of Clothing and Textiles
• /
• v.26 no.9
• /
• pp.1366-1377
• /
• 2002

For the commerce of sensual goods such as textile products, feel and touch is very important. Although on-line B2B commerce in textile materials are increasing currently, off-line sample exchange process is also required in order to make a decision. So far it is evident that the means of on-line communication is not sufficient to both customers and suppliers. The aim of this study is to improve the e-catalogues, which is the equivalent of showroom of off-line business, by analyzing information items offered in currently opened B2B sites and to categorize the essential information items to be included in the I-catalogues. The study was carried out as follows: First e-catalogues of many B2B sites were compared and analyzed from the viewpoint of customers, apparel manufacturers. Second, apparel manufacturers were interviewed to find out what causes the inconvenience, which prevent them to do B2B commerce. Third, on the basis of these n analysis, the researcher categorized information items of the e-catalogue. The apparel manufacturers were interviewed on the feasibility of the information items researcher suggested forth, With the results, we proposed an e-catalogue of 53 information items. Fifth, Another point of this study is that we tried to clarify the terminology for e-catalogue. Often textile traders and apparel manufacturers understand a same information with difference.

• Journal of Arbitration Studies
• /
• v.22 no.3
• /
• pp.71-92
• /
• 2012

The significant increase in international trade over the last few decades has been accompanied by an increase in the number of commercial disputes between Korea and India. Understanding the Indian dispute resolution system, including arbitration, is necessary for successful business operation with Indian companies. This article investigates characteristics of India's Arbitration and Conciliation Act in order to help then traders who enter into business with Indian companies to settle their disputes efficiently. The Arbitration and Conciliation Act(1996) based on the 1985 UNCITRAL Model Law on International Commercial Arbitration and the UNCITRAL Arbitration Rules 1976, has a number of characteristics including the following: (i) this act covers ad hoc arbitration and institutional arbitration (ii) parties to the arbitration agreement have no option except arbitration in case of any dispute (iii) the parties can choose their own laws, places, procedures, and arbitrators (iv) the decision of the arbitrators is final and binding (v)role of the court has been minimized and (vi) enforcement of foreign awards is recognized. However, there have been some court decisions that have not been in tune with the spirit and provisions of the Act. Therefore, Korean companies insert the KCAB's standard arbitration clause into their contracts and use India's ADR(Alternative Dispute Resolution) Methods to strategically resolve their disputes. Additionally, Korean companies investigate Indian companies' credit standing before entering into business relations with them.

• Journal of Arbitration Studies
• /
• v.25 no.1
• /
• pp.25-46
• /
• 2015

Cross-border consumer disputes are on the increase as cross-border trade between consumers and businesses continues to grow. Cross-border consumer disputes are difficult to solve, because there are different languages, laws and institutions between the parties. These consumer disputes can be solved more easily by Online Dispute Resolution (ODR) in comparison with utilizing court processes. ODR is a branch of dispute resolution which uses technology to facilitate the resolution of disputes between parties. It primarily involves negotiation, mediation or arbitration, or a combination of all three. In this respect it is often seen as being the online equivalent of alternative dispute resolution (ADR). On 18 June 2013, the new legislation on Alternative Dispute Resolution and Online Dispute Resolution has been published - the "Directive on Consumer ADR and Regulation on Consumer ODR". The new legislation on ADR and ODR will allow consumers and traders to solve their disputes without going to court, in a quick, low-cost and simple way. The United Nations working group for online dispute resolution of cross-border electronic commerce transactions (UNCITRAL Working Group III) has been underway since 2010 to continue its work on procedural rules for ODR.

• Journal of Forest and Environmental Science
• /
• v.30 no.3
• /
• pp.267-276
• /
• 2014

Collection of lichen together with tree twigs of oak and other trees bearing abundant growth of lichens is a common practice among the villagers and the rivals residing near Oak forests in Kumaun Himalaya. Nainital forest division represents about Twenty nine percent vegetation of the Oak forest in Kumaun Himalaya. In Kumaun, the lichen trade share is decreasing at an alarming rate of 21.93% which requires immediate actions by the Government. Lichen contributed significantly to household earnings with off-farm activities and this sector was found second highest income creator after Agriculture. It is a source of cash income during the season of extraction, which increases economic access to food. It has been observed in the present study that the secondary collector and transporters together get maximum share (>50%) of income generated from lichen, thus economic exploitation of the poorly educated people by the traders was still prevalent in the area. To improve the socio-economic standard of the people of Kumaun, it may is necessary to increase and improve the lichens resources of the area. There is a strong need for scientific management, best harvesting practices and strict monitoring of resources. The present study was conducted to assess the present and future resource potential for the conservation and sustainable management of lichens, existing market mechanism, role of Lichens in economic upliftment and livelihood generation of rural communities in Kumaun Himalaya.

• The Journal of Asian Finance, Economics and Business
• /
• v.3 no.3
• /
• pp.79-91
• /
• 2016

This paper is the first of its kind using a non-linear approach based on cross-correlation function (CCF) to investigate the information arrival hypothesis in crude palm oil (CPO) futures market. Based on daily data from 1986 to 2010, our empirical results reveal that: First, the volume of volatility is not a proxy of information flow. Second, dependence causality running from current return to future volume in conditional variance exhibit an asymmetric pattern of time span with different signs of correlation between price and volume series. This finding indicates the presence of noise traders' hypothesis of price-volume interaction in CPO futures market. Both findings suggest that this futures market is weak-form inefficiency. In terms of investors' behavior, they tend to change their expectations on current return based on errors made in previous trade in generating abnormal volume in the subsequent period. As implied, it is advisable for the investors devise their future trading strategies according to time span and changes of return.

• Journal of Distribution Science
• /
• v.12 no.5
• /
• pp.71-80
• /
• 2014

Purpose - The object of this paper is to ascertain how Japan has become a powerful trader in the international grain market. A case in point is the world's third largest U.S. major grain trader, Gavilon, merged with general trading company Marubeni in 2012. What are Japan's strategies and their implications? Research design, data, and methodology - The study analyzed Japanese Ministry of Agriculture, Forestry, and Fisheries data, and data from daily and weekly papers. The paper employed various data and research methodologies. Results - The Lee Myeong-Bak government tried for three years to create a company similar to Cargill, but the project eventually failed. On the other hand, Japan has emerged as a leader in the international grain distribution market for the past 50 years, with the cooperation of government and private companies. Conclusion - The findings of this study show that Korea, China, India, and other countries' international major grain companies now compete to be powerful, major grain traders. South Korea could be the leader of the international grain market through the development of a more careful and long-term strategy.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
• /
• v.75
• /
• pp.49-69
• /
• 2017

Making a international contract of sale is not a simple work. International Trade parties(seller and buyer) may choose trade terms such as FOB or CIF to simplify their contracts and avoid misunderstanding of international commercial practice. Incoterms is the international rules for the interpretation of the trade terms, and firstly regulated by the ICC in 1936. The latest version is Incoterms 2010. Incoterms 2010 governs certain responsibilities between the seller and the buyer under the international contract of sale. Moreover, Incoterms 2010 provides the standard of division of costs relating to contract of carriage. But we should note that Incoterms 2010 is not the part of contract of carriage. The writer points out that there is no consistence principle in distributing the special costs under the contract of carriage like unloading cost from the transport vehicle. To avoid the dispute between the parties, it is more safe for international traders to fully and completely understand on the customs and practice of carriage of goods. Incoterms 2010 provides more detailed method of delivery of goods than CISG and RAFTD. Concerning the method of delivery of goods, CISG and RAFTD simply provide that the seller shall place the goods at the discharge of buyers. The writer suggests the basic principles to allocate the special costs of delivery of goods according to the trade terms under Incoterms 2010.

• International Commerce and Information Review
• /
• v.10 no.3
• /
• pp.239-261
• /
• 2008

Documentary credit transactions are judged by the principle of strict compliance. The compliance of the tendered documents with the credit's teams ensures the proper completion of the underlying transaction. But if the documents tendered by beneficiary differ, a discrepancy of documents occurs. Such a discrepancy raises difficult problems for the bank to which the documents are tendered. It has to decide whether to reject or accept them or to accept them under a protective mechanism. Therefore, this study is to examine the case study of complying presentation of the description of the goods in documentary credit through the Korean Supreme Court Cases. The objectives of this paper are as follow : 1. To examine two point of views on document compliance such as strict compliance and substantial compliance. 2. To analyze Korean Case Law which challenges the legal conclusions, standard for examination of documents and New ISBP. 3. To draw out the criterion for conformity and discrepancy of description in invoices and WC and to provide the guidelines for determining the nature and extent of an issuing bank's duty of documentary compliance. 4. Finally to suggest some implications through the Korean case law. By using the examination standards for description of goods suggested in Korean Case Law and New ISBP, the traders will be able to prepare documentation more perfectly and document checkers will be able to examine the negotiation documents more easily.

• Journal of Korean Society of Forest Science
• /
• v.94 no.5 s.162
• /
• pp.342-348
• /
• 2005

An exploratory survey was performed to assess the present status of distribution and production of coconut palm (Cocos nucifera Linn.) in the rural landscape of Meghna floodplain of Bangladesh. A multistage simple random sampling technique was adopted to identify the study area and respondents. A total of 50 households were selected randomly for the study. Traditional knowledge on cultivation, management, and production of coconut palm was emphasized. Marketing of coconut palm products and income derived from coconut palm cultivation was taken into consideration. Perceptions of farmers, traders and professionals were described in due context of opportunities and constraints of coconut palm cultivation. Coconut palm cultivation was found to play an important role in household economy in rural Bangladesh sharing considerable contribution to the total income. About 10% of their total annual income was reported to come from coconut husbandry. Highest number of the coconut palms, 24%, was found to grow in the homestead compounds and in the pond banks. About one-third lands of the households were found to be covered by the coconut palms. Maximum, 19%, coconut palms were found in the 16-20 years age-class. Production of coconut was found highest at the age-class 11-15 years. The study found some important opportunities and constraints of coconut farming in rural Meghna floodplain area of Bangladesh. The results of this study would be useful for the rural development practitioners in Bangladesh.

• The Journal of Asian Finance, Economics and Business
• /
• v.1 no.3
• /
• pp.5-16
• /
• 2014

This study aims to examine the dynamics of price changes and trading volume of Kuala Lumpur Options and Financial Futures Exchange (KLOFFE) from 2000 to 2008. With augmented analysis, our results support two hypotheses. First, under information spillover, our findings support noise traders' hypothesis as the time span for variance of past trading volume to cause variance of current return is found to be asymmetric under bull and bear markets. Second, looking at the dynamic relation between volume and volatility of price changes, our findings support Liquidity-Driven Trade hypothesis as past trading volume and subsequent volatility of return exhibit positive correlation. In terms of investors' behavior in response to the news, we find that investors are more risk taking in bull market and more risk reverse in bear market. Our study suggests that investors should adjust their strategy in the futures market in a dynamic manner as the time span of new information arrival is not consistent. Also, uninformed investors with information asymmetry should expect noninformational trading from informed investors to establish their desired positions for better liquid position.