• International Commerce and Information Review
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• v.14 no.3
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• pp.453-479
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• 2012

The increase in international trade is clearly reflected by litigation and arbitration. Despite the importance of international commercial transaction, until very recently little was known about how the law interacts with actual practice. The CISG obviously plays an important role, but we are concerned with using choice of law to resolve issue that the CISG leaves unresolved. The case law UPICC is now accessible by means of UNILEX, the database on international case law that focus on CISG cases. The courts and arbitration tribunals throughout the world are developing a growing body of international case law on issues not resolved by the CISG, though arising from transactions to which the CISG applies. The application of the CISG is obligatory due to its nature as hard law an international convention. However, UPICC are only restatements and more flexibility, comprehensive instrument than CISG. This article offers to promote the UPICC application from their present status as a mere soft law instrument through analysing UNILEX cases.

• The Journal of the Korea Contents Association
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• v.15 no.9
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• pp.126-133
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• 2015

According to the traditional precedent, if a beneficiary who completed a provisional registration as a result of reservation of trade which is a fraudulent act, then assigned the right acquired by the provisional registration to the third party who has no information of the process, and let the third party complete an additional registration transfer the provisional registration, and if the third party completed the main registration on the foundation of the provisional registration, the beneficiary cannot be the other party of the litigation requesting for the cancellation of registration of the provisional registration. As the result, an apprehension that the duty to recovery of the beneficiary could easily be acquitted of a charge has existed. But, it is considered as desirable that the judicial decision judged that the court recognized the qualification of the defendant as appropriate at this case, with a different view from the precedent, and then the defendant can file the litigation against the beneficiary, requesting for cancellation of the reservation of trade which is a fraudulent act.

• Journal of Arbitration Studies
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• v.26 no.1
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• pp.107-134
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• 2016

International arbitration is the important field of applying CISG and the backbone of uniform law developed by CISG. Now CIETAC tribunals like courts of contracting states apply CISG precisely, which is beneficial to improving the quality and the credit of arbitral cases. Arbitration has the characters of independence and the non-government. the legal foundation of arbitral tribunal's applying CISG are the national arbitral law, the applicable arbitral procedures and usages of arbitration, not for performing international obligations under the CISG. CIETAC mainly use China Contract Law and CISG over the cases of sale of goods. Because of no provisions on recovery of differential price loss (equal to article 75 and 76 of CISG) Chinese tribunals have more discretion in determining the sum of damages under the China Contract Law. Applying China Contract Law may not beneficial to aggrieved party.

• Journal of the Korean Data and Information Science Society
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• v.22 no.2
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• pp.255-267
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• 2011

The aim of this study is to utilize system trading for making investment decisions and use technical analysis and Dynamic Time Warping (DTW) to determine similar patterns in the frequency of stock data and ascertain the optimal timing for trade. The study will examine some of the most common patterns in the futures market and use DTW in terms of their frequency (10, 30, 60 minutes, and daily) to discover similar patterns. The recognized similar patterns were verified by executing trade simulation after applying specific strategies to the technical indicators. The most profitable strategies among the set of strategies applied to common patterns were again applied to the similar patterns and the results from DTW pattern recognition were examined. The outcome produced useful information on determining the optimal timing for trade by using DTW pattern recognition through system trading, and by applying distinct strategies depending on data frequency.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.17 no.6
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• pp.566-576
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• 2016

It is known that the Real Estate Sales Market and Auction Market are closely interrelated with each other in a variety of respects and the media often mention the real estate auction market as a leading indicator of the real estate market. The purpose of this paper is to analyze the relationships between the housing market and auction market before and after macroeconomic fluctuations using VECM. The period from January 2002 to December 2008, which was before the financial crisis, was set as Model 1 and the period from January 2009 to November 2015, which was after the financial crisis, was set as Model 2. The results are as follows. First, the housing auction market is less sensitive to changes in the housing market than it is to fluctuations in the auction market. This means that changes in the auction market precede fluctuations in the housing market, which shows that the auction market as a trading market is activated. In this respect, public institutions need to realize the importance of the housing auction market and check trends in the housing contract price in the auction market. Also, investors need to ensure that they have expertise in the auction market.

• The Korean Journal of Financial Studies
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• v.9 no.1
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• pp.163-187
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• 2003

본 연구는 옵션가격 및 거래량 자료를 이용하여 옵션시장의 가격발견 기능에 대해서 분석을 시도하였다. 이를 위해 먼저 옵션가격과 거래량 정보가 현물시장을 선행하는 현상에 대해서 분석해 보았다. 옵션가격은 실제 현물지수를 약 1시간 정도 선행하는 것으로 관찰되었다. 콜옵션 가격이 풋옵션에 비해서 상대적으로 옵션시장에서 높게 거래되는 경우 이는 현물주식시장에서의 주가상승을 예고하는 것으로 나타났다. 옵션 거래량 정보 역시 현물시장의 가격움직임을 예측하는데 유효한 것으로 관찰되었다. 콜옵션의 풋옵션 대비 상대적인 거래증가는 투자자의 낙관적인 장세전망을 반영해 일단 현물지수의 상승을 야기하는 것으로 나타났으나 이후 투자자의 풋옵션을 통한 헤지(hedge) 수요의 증가로 이어지는 것으로 조사되었다. 두 번째로 본 연구는 이러한 옵션시장의 가격발견 기능을 이용하여 매매전략을 수립하고 이를 통하여 투자이익을 극대화시킬 수 있는지에 대해서 살펴보았다. 콜옵션 가격(거래량)이 풋옵션 가격(거래량)에 비해 고평가(증가) 되었을 경우 이는 주가상승을 미리 예고하고 있는 신호로 받아들어져 주식을 매입하고 반대로 콜옵션 가격(거래량)이 풋옵션 가격(거래량)에 비해 저평가(감소) 되었다면 주가하락을 예측하기 때문에 주식을 매도함으로써 투자이익을 증대시킬 수 있을 것이다. 실증분석 결과는 우선 옵션 가격정보를 이용하여 현물시장에서 지수 바스켓 포트폴리오를 매매하려는 전략은 30분 내외의 단기 투자에는 유효하나 그 이상의 투자기간을 가지는 경우에는 예상과는 다른 결과를 초래하였다. 반면 옵션시장에서의 콜옵션과 풋옵션의 상대적인 거래량 정보는 현물주식시장의 움직임을 예측하는데 옵션 가격정보에 비해서 보다 효과적인 것으로 판단되었다. 조사한 모든 일중 및 1일(overnight) 투자수익률에서 옵션 거래량의 상대적 비율에 의거한 투자전략은 통계적으로 유의한 투자수익률의 차이를 가져왔다.

• Proceedings of the Korean Institute of Building Construction Conference
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• 2019.11a
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• pp.207-208
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• 2019

Currently, as the public interest for environmental issues has grown rapidly, the needs for G-SEED have also increased. However, as investment according to eco-friendly elements is inevitable to receive G-SEED certification, it is necessary to find out whether or not the sales price of apartments have increased compared to investment costs. Therefore, the objective of this study is to analyze the sales price of apartments according to G-SEED by using T-test. To achieve the objective, First, variables affecting on the sales price of apartments are selected. Second, the data are collected by using GIS(Geographic Information System). Third, after testing the normality, a comparison analysis is conducted on the sales price between G-SEED certified and non-certified apartments by using T-test. As a result, it is concluded that G-SEED certified apartments are more expensive than non-certified apartments. In the future, these findings can be utilized to develop of apartments price calculation model based on the G-SEED.

• Journal of Distribution Research
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• v.15 no.5
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• pp.273-285
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• 2010

This paper analyzes retailers' purchasing patterns of fruits and vegetables and the problems with purchasing from agricultural product wholesale markets. While large-scale retailers purchase fruits and vegetables from various sources, medium and small-scale retailers and food service companies buy them mostly from agricultural product wholesale markets. The retailers point out the problems with purchasing from agricultural product wholesale markets as a lack of quality uniformity, not sufficient cooling storage facilities, not sufficient space for shipping area, high distribution cost, unnecessary price fluctuation, and etc. In order to enhance the linkage with retailers, agricultural product wholesale markets, first of all, have to adopt more flexible trading methods such as private treaty besides auctions which are exclusively legitimate trading methods in the market. Necessary are enlargement of jobbers' operating scale, securing shipping space for retailers, adoption of inspection service, introduction of methods to stabilize auction prices, saving of loading and unloading costs, implementation of marketing strategies.

• Journal of the Korean Data Analysis Society
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• v.20 no.6
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• pp.2953-2966
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• 2018

Housing prices are closely related to various variables that indicate macroeconomic conditions. In this paper, empirical analysis based on data is performed referring to previous studies. Focusing on the policy interest rate among the factors affecting the housing price, the non-linear impulse responses of other variables to the interest rate shock are analyzed. Using the random forest algorithm, the variable importance scores of the macroeconomic variables presented in the previous studies are calculated. After selecting the variables through this process, the impulse responses are calculated using a model that can capture non-linearity. According to the model, the responses of housing prices to the policy rate is only significant when the rate is raised. Especially, the impulse response is amplified when the shock increases due to the non-linear characteristics that can not be captured by the traditional VAR methodology. The analysis results suggest that the interest rate as a policy instrument should be approached from a more cautious perspective.

• Journal of Cadastre & Land InformatiX
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• v.51 no.2
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• pp.125-139
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• 2021

Continuous subway line expansion over the years in Seoul metropolitan area has contributed to improved accessibility to public transport. Since public transport accessibility has a significant impact on housing decisions, quantitative analysis of correlation between housing prices and public transport accessibility is regarded as one of the most important factors for planning better housing policies. This study defines the reduction of traveling time resulted from the construction of new metro stations despite them not being the closest stations as 'Network Expansion Effect', and seeks to understand how the Network Expansion Effect impacts on housing prices. The study analyzes monthly rent data converted from upfront lump sum deposit, so called Jeonse in Korea, from 2012 to 2018, through 'A Modified Repeat Sales Model.' As a result, the effect of 'Network Expansion' on rental prices in Seoul has stronger during the period of 2017 to 2018 than the base period of 2012 to 2014, which suggests the 'Network Expansion' has a meaningful effect on rent. In addition, in comparison between the most and the least affected group of apartments by 'Network Expansion Effect', the most affected group has more price increase than the least affected group. These findings also indicate that different levels of 'Network Expansion Effect' have various influences on the value of residential real estate properties.