• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.63
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• pp.111-132
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• 2014

This paper analyzed the obligations of the parties entering into an international leasing agreements, focusing on the Draft Common Frame of Reference (DCFR) Book IV, Part B. The lessor's obligations are as follows. i) The lessor must deliver goods to the lessee by the due date of delivery so that the lessee can use the goods on the starting date of the lease agreement. ii) The lessor must conform with the contract so that the goods meet the purpose of the contract at the start of the lease agreement and throughout the period of the lease agreement. iii) If the lessee returns the goods upon the termination of the lease agreement, the lessor must cooperate with the lessee. The lessee's obligations are as follows. i) The lessee must pay rent, which is the most critical obligation of the lessee. ii) The lessee must cooperate with the lessor so that the lessor can perform the obligation to deliver the goods and accept the goods of which the lessee shall take control. iii) The lessee shall perform fiduciary duties while it uses and makes profits from the goods, and when the lessor cannot take any measure to protect the object, the lessee must prevent damage. Further, if the lessor pays expenses that are not considered necessary expenses, the lessor may not be reimbursed and must accept the goods after delivery to preserve them. iv) The lessee must give notice to the lessor if there is a possibility that a third party can claim rights to goods or infringe upon the lessor's ownership while using the goods. v) At the end of the lease period, the lessee must return the goods to the lessor.

• Resources Recycling
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• v.9 no.2
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• pp.3-10
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• 2000

Used aluminum beverage can(UBC) is an important secondary resource. Domestic recycling rate of UBC should be increased from the standpoint of resource savings and environmental protection. Aluminum can to can recycling is divided into two steps. The first step was composed of the processes such as collection of used beverage cans, shredding, magnetic separation, de-lacquring, melting and casting. The second is remelting and casting, heat treatment, hot and cold rolling, annealing, and can making. With brief discussion about this recycling technology, this article covers aluminum can consumption, the present state of aluminum can recycling in Korea, Japan, USA, and Europe.

• Land and Housing Review
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• v.6 no.3
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• pp.117-127
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• 2015

Korean government has launched a new public rental housing policy for younger generation suffering from instable housing conditions in CBD area. This paper is to analyze the financial feasibility of urban public rental housing projects, based on its cash flows. Urban rental housing projects should find out the way to reduce costs and to secure cheap land, because of the high land price in CBD area and complex relationship of legal rights. Project types are categorized by the land acquisition method and district characteristics. For 10 sample projects, financial feasibility was analyzed. Cash flows were calculated on the design plan and 16 scenarios were made by combining 4 important variables. The variables are increase rate of land price, increase rate of monthly rents, ratio of public and market rents, and the interest rate of National Housing Fund. The findings are as follows. Government land rent-type can reduce initial costs because it is not necessary to buy land. However, total NPV is lowered at the time of liquidation due to the land return. Private land acquisition-type require more initial costs. But the NPV at liquidation time increases with land disposal. To improve financial feasibility, acquisition-type should be preferred in high land-price area and rent-type should be preferred in low land-price area. Among influencing variables, the rate of increase in land price and the ratio of public and market rents turned out to be the most important. Although the ratio of public and market rents can be controllable, high ratio will cause the burden of tenants. Therefore, interest rate adjustment of National Housing Fund is more desirable.

• Journal of Korea Port Economic Association
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• v.27 no.3
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• pp.65-90
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• 2011

Private stevedoring companies are leasing and operating the container terminals of the Busan Port. The total amount of lease fees private stevedoring companies paid in 2010 reached 161 billion wons, an approximately 66 percent of the total revenue of the Busan Port Authority(BPA). In other words, lease fees are the most important revenue source for BPA. However, the lease fee assessment system of Busan container terminals goes against the principle of equity due to different assessment methods and criteria adopted by each container terminal. Therefore, the purpose of the study is to analyze the systematic problems of the lease fee assessment system that is used at Busan container terminals, and propose a new standardized scheme with a case study on the new system. In order to standardize the assessment system, the assessment methods need to be simplified by using the Discounted Cash Flow(DCF) method. In addition, the assessment criteria such as assessment duration, discount rates, price indexes, estimated container throughputs, sales unit price per TEU, operation costs, including labor costs, need to be standardized as well. The new standardized assessment system can be applied to estimate lease fees for new terminals. However, for existing terminals to run the new system, factors such as assessment duration, discount rates, price indexes, estimated container throughputs, investment and re-investment costs, and maintenance & repair costs of the new system should be changed slightly.