In the case of a sea transport contract, the decision of the governing law, together with the choice of lex fori, shall be a legal issue in all legal disputes involving damage to the goods. In sea transport contracts, a paramount clause is often established in conjunction with the governing law clause, which can lead to conflict between these two clauses. Most B/L's back clauses contain a paramount clause that provides that the Hague Rules, Hague-Visby Rules, or foreign laws that prevail over other provisions of the terms. The Hague Rules and the Hague-Visby Rules, however, set different standards regarding the extent of the sea carrier's liability. Therefore, in the interpretation of ground conditions, it is an important question whether the Hague Rules or the Hague-Visby Rules are applied or whether each rule is applied as a law. For example, the paramount clause in the Superior Pescadores case was problematic in the interpretation of the term 'Hague Rules.' In this case, the English Court held that the expression 'Hague Rules' could be used to mean the Hague-Visby Rules, and not exclusively the Hague Rules. Therefore, the Hague-Visby Rules were applied in the judgment of this case, which suggests that this case can be a valuable precedent in future legal matters.

This paper aims to empirically study how service trade regulations and FTAs have affected trade in services of Korea, China, and Japan (KCJ). We estimate the gravity equation using the OECD Services Trade Restrictiveness Index (STRI), the Heterogeneity Index, and service trade data of KCJ and their main trade partners from 2003- 2010. The analysis revealed that the more restrictive regulations measured by the STRI are negatively associated with the services trade of Korea and Japan. In addition, Korean FTAs have had a significantly positive effect on service trade. Further empirical results showed that FTAs with a longer implementation period had a greater effect on services trade.

Trade finance promotes export performance, and every small- and medium-sized export business has the right to use policy finance. The credit line is also stipulated by relevant laws and regulations. However, trade finance has repeatedly been misused, so these matters can lead to substantial financial loss and damage to the related financial institutions. The lack of expertise of K-SURE and the backwardness of banks represent even bigger problems in the follow-up management. The existing trade finance system should be improved in the following ways from the institutional and legal perspectives. Firstly, follow-up management of beneficiary companies should be reinforced and systematized through examining business tendencies, financial status, and other important factors. There is also a need for advancement of following up management. An effective and streamlined financing system must be established by abolishing the Korea Trade Insurance Corporation. This study presents improvements and their implications by looking into the main issues under the current trade finance system. This study is based on documentary research and practical cases.

This study investigate the concept and type of Korea's trade governance by theories related to network governance. Korea's domestic trade policy-building system a 'network trade governance' utilizing Minister for Trade as a network administrative organization. This governance has four major rade stakeholders: G(Government), I(Industry), A(Academia), and C(Civil groups). Korea has five types of committees for internal consultation between domestic stakeholders, all G·I·A·C groups. Korea's trade governance can be if it fixes its administrative redundancy, communication formality, stakeholder exclusiveness. This topic calls for further research such as social network analysis as well as international comparison analysis.

Logistics outsourcing businesses consist of the three main stages of bidding, contracting, and operations. This study focuses on the impacts of factors in the logistics outsourcing stages on outsourcing performance. Key factors in each stage may have direct influences on logistics partnerships and performance. Also, factors of each stage may impact the factors of subsequent stages. The relationships were examined using a structural equation model and verified by PLS (partial least square)-SEM methodology. Study results were as follows. First, the uncertainty of the shipper in the bidding phase affects the flexible contract in the contracting phase, and thus, affects the satisfaction of the logistics outsourcing services. Second, the uncertainty of the shipper in the bidding phase affects operations through contracts, and positively affects logistics outsourcing satisfaction through trust and cooperation.

L/C(Letter of Credit) is a common payment term designed to prevent credit risk in international trade. However, most companies prefer T/T (Telegraphic Transfer) payment due to its time and cost efficiency. According to related statistics, more than 70% of international trade contracts are based on T/T rather than other payment terms. The time required from the export negotiation to the completion of the export transaction and collection in international trade is very long. In this process, disputes related to settlement are continuous, so caution should be exercised. Therefore, whether or not the export payment is recovered in a timely manner is the core issue of trade transactions for exporters. The purpose of this study is to identify problems that cause delayed payments during settlement by the remittance (T/T) method, which can lead to settlement risk, in order to investigate those factors which can lead to delays in payments and increased risk as well as to determine ways to prevent such factors in advance. According to empirical findings, trading experience, transaction duration, and contract contents can be important determinants in terms of payment delays. Industry uniqueness and market uncertainty were found to be in opposition to the hypothesized relationships. The results of this study will be useful for trading companies to reduce their payment risk.

In the past two decades, due to the rapid fluctuations in the oil supply and demand in Northeast Asia as well as a surge in oil prices in the early 2000s, Korea has been developing the Northeast Asia Oil Hub project as a national project. This project was promoted based on the policy consideration that the nation's energy security and regional development can be promoted by establishing an oil hub in Northeast Asia that can eventually replace Singapore as East Asia's oil logistics hub. Following the construction of a large-scale oil storage facility in Yeosu in 2013, the main project in Ulsan has suffered many difficulties due to environmental changes such as the supply and demand of oil and political factors. The survey, which investigated the performance, problems, and prospects of the oil hub project, illustrates that scores of all sectors are of average level. In terms of performance and prospects, policies such as facility investment, law, and system improvement were determined to be rather high while operational areas such as value-added activities, profitability, and marketing activities were perceived as having more serious problems by respondents. In conclusion, despite the strong potential of Korea's oil hub based on its geographical location, facilities, and oil product capacity, there are problems related to policies, institutions, and investment. In the future, the oil hub business should be reviewed by considering environmental factors, and a drastic improvement plan for attracting foreign investors and oil traders should be established.

This study focuses on a recent WTO SPS dispute related to Korea Import Bans and Testing and Certification Requirements for Radionuclides (DS495) in order to learn from the case and take proactive measures to prevent potential import restrictions by Japan on Korean seafood. Korean-Radionuclides (Japan) emphasizes the importance of sufficient scientific evidence, especially scientific information from relevant international organizations, in an effort to take preventive measures towards Japan's restrictions on Korean seafood imports. Japan claims that a novel parasite, Kudoa septempuctata, in Korean flatfish causes food poisoning. As food poisoning is a serious concern, there is a low possibility that Japan's enhanced monitoring measures would be more trade restrictive than required as prescribed in Article 5.6 of the WTO SPS Agreement. In addition, Korea is the biggest exporter of olive flounder to Japan. Hence, the possibility that similar conditions could be established is low in relation to non-discriminatory principles under the WTO SPS Agreement. Accordingly, we should collect relevant scientific evidence, improve domestic sanitary management of fishery products, and seek export diversification so that we prepare for potential import restrictions by Japan and minimize implications.

Under the Manufacturing Liability Act, consumers want to be protected from manufacturers by mitigating burden of proof as an important target to be protected. However, due to the complexity of the product, it is very difficult for consumers to prove defects from the manufacturing defect. This situation has led to a major revision of the Manufacturing Liability Act, which mitigates the burden of proof of consumers by applying fruitless liability. The Manufacturing Liability Act is comparable to the U.S., which has strong consumer rights and is protected by the Manufacturing Liability Act. The burden of proof can be regarded as the most necessary content for consumers within the manufacturing product liability law when responding to manufacturing defects. The U.S. intends to provide implications for achieving consumer protection in Korea's Manufacturing Liability Act by imitating the U.S. based on the burden of proof. Case comparison regarding burden of proof can be conducted based on various criteria, including criteria for each product and key features for determining the importance of the manufacturing product liability law. The Act on the Responsibility of Korean Manufacturing Products for the Protection of Consumers was developed based on the assessment criteria, and a remedy was proposed to protect consumers who suffered from manufacturing defects.

This study aims to investigate the determinants that can influence customer satisfaction and loyalty. Compared to some of the determinants that have been investigated by other scholars before, this study also includes a new approach to mobile food-ordering that has only appeared within the Chinese fast-food industry in recent years. It is very important to test if the convenience of mobile ordering services can influence customer satisfaction, as more and more customers are using mobile apps to order food, especially in the 4th Industrial Revolution Era. Research data mostly was collected from customers who visited one of five famous Western fast-food restaurants (KFC, McDonald's, Pizza Hut, Subway, and Burger King) in China. The results show that not only price, service quality, food quality, and the physical environment can significantly affect customer satisfaction but also the convenience of mobile ordering services, a new determinant accompanied by the fast development of IoT technology.

The purpose of this study is to analyze the structural relationships of perceived value, price sensitivity, and satisfaction between brand image and purchase intention of consumers who have experience of overseas direct purchase. This study collected questionnaires used to analyze these structural relationships. Using the R's plspm package, we analyzed the PLS (partial least squares) structural equation model. In order to examine the relationship between perceived value and price sensitivity, the research model was modified and analyzed. As a result, not only the adoption of the research hypothesis, but also the goodness of fit was higher than before the research model modifying, and the relationship between perceived value and price sensitivity was further verified. The modified research model has higher academic value, so it is necessary to select it as the final proposal model.

Vietnam's economic growth has progressed rapidly since Doi Moi. Vietnam is a key driving force for global economic growth on behalf of China. Therefore, this study analyzed the factors of Vietnam's economic growth by using time series variables after Doi Moi. Study results show that educational expenditures affect ODA in the short term. In the long run, GDP and FDI are causally related to ODA. Based on the above findings, it can be seen that FDI and ODA played a significant role in Vietnam's economic growth. This finding suggests that in order for Vietnam's economy to grow further, the capital market should be more open to foreigners so that FDI and ODA can flow more smoothly. Since the inflow of FDI is also linked to educational expenditure, it is important to understand that the workforce is being upgraded in the Vietnamese labor market.

At present, there are various standards used as the governing law of contracts for establishing, implementing, and resolving disputes between the parties to international sales contracts, called "Forum Shopping." Uncertainty and increased transaction costs, which may arise from these various norms, may hinder the activation of international commerce. This study examines the process of enacting and examining various international unification norms that have emerged through international organizations to eliminate trade barriers caused by choice of governing law concerning parties involved in the international sale of goods. Issues regarding the positive and negative perspectives are discussed to identify obstacles to international unification norms. In particular, by comparing and analyzing the differences between the regulations of the CISG and PICC, the representative international unification norms on international sales contracts, the possibility of unification of the norms on international sales contracts are reviewed. Direction for the establishment of a single international regulation is presented for reducing the transaction costs and uncertainties in the international sale of goods.

This study investigates the impacts of international trade and foreign direct investment (FDI) on income distribution both nationally as well as provincially in Vietnam. This study uses panel data of 63 provinces in Vietnam for the period of 2008-2016 and a time series dataset from 1992 to 2016. We found the following results. First, the income distribution is significantly affected by per capita income. When we consider the Kuznets hypothesis, the intra-provincial income inequality of Vietnam's 63 provinces follows a regular U-shaped relationship. In contrast, the income distribution in Vietnam exhibits an inverted U-shaped relationship between the Gini coefficient and per capita income. Second, the inward FDI tends to reduce income gaps in each province through the employment of predominantly low-skilled workers. FDI, however, seems to increase income inequality throughout Vietnam. This result is potentially due to the strong concentration of FDI into a very few areas. Third, the effect of trade openness exhibits a decrease in inequality both within each province and in the whole country of Vietnam.

Circumvention refers to the situation in which exporters try to circumvent import restrictions by setting up factories in third countries and assembling and producing parts locally. Circumvention dumping eliminates the impacts of existing anti-dumping measures, and major countries are introducing anti-circumvention dumping laws to address this problem. If the act of the exporting country is recognized as a circumvention dumping activity, anti-dumping duties are applied retroactively to the imported goods or components. Evasion is an act of importation that results in the reduction or non-application of cash deposits, securities, or anti-dumping or countervailing duties, in a manner that is substantive or false, substantive or omission. In this article, we reviewed the contents and examples of the anti-circumvention measures by the US Department of Commerce (DOC), the International Trade Commission (ITC), and the Anti-Evasion measures by the CBP. The CBP examples show how much inference can be made about which parts of the CBP's investigations, and in what ways. The enactment of the EAPA created an environment in which the role of the CBP was directly guaranteed, and it was possible to apply adverse inferences to those who did not respond to requests for information, resulting in stronger CBP's authority. Therefore, it is advisable for Korea to examine the introduction of domestic laws, such as the bypass anti-dumping system, in order to cope with unfair trade practices that undermine and neutralize the effects of anti-dumping measures.

This research focuses on the influences of FDI on the economic growth of four countries by Mekong river: Vietnam, Laos, Cambodia and Thailand. At the same time, the study also analyzes the contributing of economic growth to attract FDI inflow to these countries. The panel data during the period 1998-2017 were collected from World Bank. Empirical analysis figures out that GDP, mobile phone, labor force are the determinants affecting positive to FDI and vice versa exchange rate, wage are the negative factors. Secondly, FDI, export, exchange rate, government expenditure impact positively on economic growth but inflation and population have negative effect on the economic development. Thirdly, The FDI and economic growth have impact mutually in Vietnam, Laos, Cambodia and Thailand economy. FDI plays a very crucial role in contributing greatly to the economic development of the Mekong sub-region. The economic growth is higher, the FDI inflow is more attractive. From the results, some practical suggestions are offered to enhance the competitiveness in attracting FDI.

This study analyzes how the port connectivity network has changed with the restructuring of the liner shipping alliance and explores the impact of these changes on network characteristics using social network analysis (SNA). While due to economies of scale, the scale of ports and liner shipping has expanded, the goal of shipping companies has changed to achieve cost-effectiveness due to the diseconomies of scale. Such changes in the environment have greatly affected ports according to the strategies of major liner alliances, and port centrality has shifted in response to restructuring in strategic alliances. This research confirmed that port centrality has continuously changed, and the reason for this phenomenon was analyzed through the derived main network centrality indices. This finding provides significant implications for port authorities and terminal operators to consider different perspectives when planning for sustainable growth and management.

Good faith is difficult to define due to the facts that there is not an objective and concrete concept of good faith, and good faith in contracts for the international sale of goods is a principle that parties to the contract must act with sincerity as members of a social community. The Korean Supreme Court shall pay attention to setting the applicable standards that can be universally applied to good faith based on the self-established criteria. Through such effort, it is possible not only to realize the value of concrete validity pursued by the general clause of good faith but also to realize the value of legal stability by assuring the predictability of results when applying good faith. In the modern sense, it can be said that the arbitrary application of general rules rather than the escape and general clauses is a problematic situation in the application of good faith, but this problem can be solved by setting a reasonable standard of good faith. This paper studies good faith in the view of Korean law, international laws, and related cases in contract law. The purpose of this paper is to find the problems and solutions of the practical application of good faith by analyzing the Korean case (2009Da86000), which undermined the legal stability of good faith in Korea.

The purpose of this study is to determine optimal transportation routes through the comparison of Korean - European transportation routes of automotive parts and to suggest information that can be utilized in Korea - Europe trade activities or trade route selection by establishing multipath. This study analyzed the direct transportation cost, inventory cost, and warehouse inventory cost of the sea and TSR / TCR railroad transport based on characteristics of automotive parts logistics and multimodal transportation. Also, this study identifies the most effective transportation route from the viewpoint of total logistics cost. In addition to the economic factors, we conducted an in-depth analysis through interviews with corporate executives to identify the importance of the factors with the behavioral factors, and the reliability was further secured through interviews. Through this study, it is possible to understand various aspects of international logistics by analyzing the factors of transportation choice in terms of economic and behavioral perspectives concurrently by differentiating from existing research.

This paper explores the hub-and-spoke system as the structure of the global economic network that presents obstacles for international cooperation. With its exclusive jurisdiction and control over the hub, a powerful state can employ coercive economic measures to compel and deter unwanted behavior of rogue states and even its allies. Against this backdrop, this study analyzes the cases of the US blocking access to its market by Chinese Huawei as well as the case of Japan in restricting trade for highly advanced goods to South Korea. This analysis reveals that both measures are forms of secondary boycotts, which affect not only the entities within their jurisdiction but also others located in third countries. In addition, this paper extends its findings to free trade agreements and offers implications on the outward processing scheme for the Gaeseong Industrial Complex in the KORUS FTA and the Korea-China FTA. These events result in a gray-risk for South Korea, a country that aims to resolve North Korea's denuclearization and inter-Korean economic cooperation.

In recent years, Chinese firms have explosively increased outward foreign direct investment (oFDI). While state-owned enterprises (SOEs) are still dominant in Chinese oFDI, privately-owned enterprises (POEs) are also accelerating their internationalization. These two types of Chinese firms differ in their behavior regarding oFDI. The objective of this paper is to analyze the differences in the choice of oFDI locations between Chinese SOEs and POEs by considering host country factors. By integrating the literature on Chinese firms' oFDI and on FDI locations, we developed six hypotheses concerning how host country factors affect their choice of location. We tested our hypotheses by conducting multiple regression analysis with recent secondary data on 413 Chinese MNEs in 88 countries between 2005 and 2016. The results of the test show that in selecting oFDI locations, Chinese SOEs invest relatively more in countries with richer natural resources, more abundant strategic assets, less production efficiency, higher political risk, and lower institutional quality compared with Chinese POEs. It is our hope that the empirical results of this paper will contribute to research on Chinese oFDI.