• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.39
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• pp.143-175
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• 2008

The documentary letter of credit is the most preferred and frequently used method in International Payment System in Korea, as it has less possibility of occurring credit risks in export than any other payment system. That's because the exporter can get payment from the issuing bank(confirming bank) by delivering the goods and presenting documents following the required procedure under the letter of credit, as the payment is affirmed by the issuing bank(including the confirming bank in case of the confirmed letter of credit) regardless of the buyer's payment. However, the pattern of payment methods used in international trade of Korea is changing dramatically like the importance of the credit is decreasing continuously among the payment methods while the remittance is increasing. The increase of remittance has a positive aspect that International Payment System are changing into those of advanced countries, but the decrease of the credit also has a negative aspect that the exporter might have a greater credit risks. Therefore, we need a systematic device to deal with this. Exporters in Korea usually have used the export credit insurance to deal with the credit risks However, the export credit insurance also have a limitation as the policy finance due to the limitation based on the credit status of the business and the limitation of acceptance from the lack of financial resources of the government, etc. Korea, which is the 11th export power in the world, has a basic limitation to deal with the credit risks by depending on the export credit insurance only. So, in this thesis, I have studied on the international factoring, forfaiting, which are advanced export finances and widely used in advanced countries, as substitutes to deal with the credit risks. the international factoring is an trade financing in which a factor offers full services such as credit cover, offering prepayment, collection, account receivables, management, etc, instead of the exporter on the account receivables occurred by the exporter's delivering goods to the importer. This international factoring has a high possibility of using as a means to deal with the credit risks, because it offers prepayment without recourse. the forfaiting is another export financing in which a forfaiter purchases the draft, the promissory note and other negotiable instruments issued from the international trade, with fixed interest rate without recourse from the exporter or previous holder. By using this method, they can avoid foreign exchange risks, contingency risks as well as credit risks, as the conveyances like the promissory note, etc are issued with the note warranty so-called 'per aval' in business practice. These trade financing are good substitutes to deal with the credit risks in export, but they are not widely used in Korea. Though it can be explained with various reasons, the common reasons are the lack of understanding on the use of advanced export finance, the lack of experts to manage the advanced trade finance, the conservative way of thinking of domestic organizations related to trade financing, the lack of organizations supporting the trade financing, etc.

• Journal of Distribution Science
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• v.7 no.3
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• pp.49-69
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• 2009

With the proliferation of electronic commerce, online transactions have become a norm. Its enormous potential, however, can be truly realized if consumers feel comfortable facing invisible sellers over the Internet, a virtual business channel. Trust has been identified as a key component in many e-Commerce studies. The purpose of this study is to find out which factors play a major role in building buyer trust and how the build-up trust affects buyer's purchase intention in online used car transactions. Based on the information asymmetry, TAM (Technology Acceptance Model), and the trust theory, our research model includes factors such as a buyer's propensity-to-trust, institutional characteristics (inspection and warranty policy), word-of-mouth referral, perceived size, and perceived benefits as independent variables. The model also includes trust as a mediate variable, purchase intention as a dependent variable, and perceived quality risk as a moderate variable. The research model is tested by analyzing 448 sample data gathered from used car websites. The result shows that the trust has significant effects on the online purchase intention, and institutional characteristics have been identified as one of the most significant factors for trust building in used car websites. For those who perceive quality risk high, actual purchasing behavior occurs only when they have trust on the used car websites, indicating that trust plays a vital role as a mediate variable. This study suggests that buyer trust on the used car websites is important to increase buyer's online purchase behavior.

• Journal of the Korean Institute of Gas
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• v.11 no.1 s.34
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• pp.23-28
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• 2007

This paper presents an experimental investigation on the sealing defects and cracks of O-rings and a valve packing of a gas valve for a LPG cylinder. O-ring in which stops a gas leakage of a liquefied petroleum gas is very important for a LPG valve safety. Valve packing is to open and close a gas flow port for supplying and charging a LPG fuel. The sealing performance of two sealing units ism related to the leak safety and long lift of a gas valve. The investigated results show that most of O-rings was failed due to a circumferential crack in which is caused by partial press bonding failure near the partition zone and an excess compression rate. Some of the O-ring failure was originated by an extrusion of an excessive leak pressure of a LP gas. Thus, this paper strongly recommends a tight quality control and a safety guarantee system of O-rings and valve packing to guarantee a leak safety and to extend a service lift of a gas valve. At the end, a warranty policy of the sealing units should be adopted for increasing a product quality and safety of a gas valve.

• Journal of the Korea Institute of Information Security & Cryptology
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• v.24 no.2
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• pp.295-310
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• 2014

DCS (Distributed Control System), the main control system of power plants, is an automated system for enhancing operational efficiency by monitoring, tuning and real-time operation. DCS is becoming more intelligent and open systems as Information technology are evolving. In addition, there are a large amount of investment to enable proactive facility management, maintenance and risk management through the predictive diagnostics. However, new upcoming weaponized malware, such as Stuxnet designed for disrupting industrial control system(ICS), become new threat to the main control system of the power plant. Even though these systems are not connected with any other outside network. The main control systems used in the power plant usually have been used for more than 10 years. Also, this system requires the extremely high availability (rapid recovery and low failure frequency). Therefore, installing updates including security patches is not easy. Even more, in some cases, installing security updates can break the warranty by the vendor's policy. If DCS is exposed a potential vulnerability, serious concerns are to be expected. In this paper, we conduct the penetration test by using NESSUS, a general-purpose vulnerability scanner under the simulated environment configured with the Ovation version 1.5. From this result, we suggest a log analysis method to detect the security infringement and react the incident effectively.