• Korea Trade Review
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• v.42 no.2
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• pp.205-225
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• 2017

The study attempts to verify the case related to the notice of payment refusal by issuing bank regarding discrepancy in transport document under L/C(Letter of Credit) transaction. Considering the high portion of trade between Korea and China, Korean companies and banks in L/C transaction should be careful about many unpredictable situations. The case of this study is that Chinese seller(beneficiary) initiated a civil suit against Industrial Bank of Korea to Chinese court and Chinese courts in the first and second trials judged that the notice of payment refusal by Industrial bank of Korea doesn't satisfy Article 16, (c) (ii) (iii) in UCP 600. However, Industrial Bank of Korea implements the judgement even though the judgement is highly biased to Chinese seller. Considering the judgement by Chinese courts, the study suggests some countermeasures to Korean companies and banks which opened L/C. First, the issuing bank should describe the contents of discrepancy specifically based on Article 16, (c) in UCP 600. Second, it is necessary to insert a clause regarding governing law in the L/C contract like sales contract. Third, considering the biased judgement by Chinese court and difficulty in execution of foreign judgement in China, it is recommended to using arbitration as a method of dispute resolution such as ICLOCA and DOCDEX Rules which are international system operated by international instruments because it has legal effects to parties in L/C contracts if the issuing bank inserts arbitration clause in L/C.

• Journal of the Korea Institute of Information and Communication Engineering
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• v.22 no.9
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• pp.1147-1152
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• 2018

In the recent, Chinese insurance market has taken a introduction of InsurTech. It is a combination of insurance and fintech. This means that the policyholder design their own insurance and take out the policy on-line without insurance planner. This trend is remarkable issue. Growth rate of InsurTech in China have significantly been growing. In addition, Chinese insurance market has kept generally stable and fast growth rate, although Chinese forecasting economic growth is subject to massive uncertainties. Nevertheless, the increase in the number of Korean insurance companies fails to settle into Chinese insurance market due to lack of awareness about newness of Chinese insurance market. Moreover, Korean insurance company in China or planning to enter are not prepared for InsurTech yet. Chinese insurance market is valuable for Korean insurance companies. This paper suggests implications of re-entry into Chinese insurance market to Korean insurance companies by analyzing policies which could make environment to endorse Chinese insurtech and case of Chinese insurtech companies.

• Journal of Arbitration Studies
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• v.25 no.4
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• pp.77-95
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• 2015

CISG provides a uniform framework for contracts of sale of goods between parties whose places of business are in different States. In 2004 South Korea became the 63th State around world to adopt CISG. Starting next year CISG goes into effect as the law that governs the contracts for international sale of goods, in respect of which CISG displaces the existing domestic civil and commercial codes of Korea. By its provision Article 1(a), CISG applies directly between Contracting States without reference to private international law. As South Korea's biggest trade partners including China, the U.S. and Japan are also parties to CISG, the number of such direct applications continuously increases. Now it is estimated, though roughly, that CISG governs about two-thirds of Korea's import and export trade of goods. The private survey of the author shows that up to now in South Korea there are 39 court cases decided by the first instance courts, 29 cases by the appellate court and six cases by the Supreme Court of South Korea. In nearly all these cases, CISG applied directly. Furthermore, currently CISG is, in several respects, influencing upon the revision of Korean civil code which is designed to modernize it: The revised draft published in 2013 adopts the rules on the revocation of offers provided in articles 15 and 16, the rule on the termination of offers provided in article 17 and the rule on the time that an acceptance takes its effect provided in article 18 of CISG. More importantly, in accordance with the rules taken by CISG, the revision draft no longer requires the existence of fault or negligence on behalf of the breaching party in order for the aggrieved party to void the contract, and the revised draft denies the right of avoidance for trivial, not fundamental, breaches of contract.

• Journal of Arbitration Studies
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• v.12 no.2
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• pp.185-220
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• 2003

Korean Government is increasingly focusing on the Northeast Asia Business and Logistics Hub strategy to create a competitive advantage. A key element of this strategy is creating or leveraging distribution and logistics hubs that act as centres for distribution in Northeast Asia. A Northeast Asian e-Hub Policy is required for business hub and logistics hub in the Northeastern Asia. An e-Hub is an integrated, sophisticated set of e-Biz, information and e-trade facilities and services that provides access to a marketplace and exchangee the e-trade data. To study the e-Hub policy, Pan Asian e-Commerce Alliance, Korea-Japan e-Trade Hub project, and ASEM e-Trade project are considered. E-trade via cyberspace may need new methods of dispute resolution to reduce transaction costs for small value-related disputes and to erect structures that work well across national boundaries. Voluntary Mediation Councils and cyber tribunals should be encouraged by governmental sectors to continue developing private sector mechanisms to resolve e-trade disputes. Government-sponsored online cross-border dispute resolution systems may be also be useful to complement these private sector approaches. E-trade in Northeast Asia results in disputes owing to the incompleteness of e-trade law in the countries. These disputes contain disputes regarding e-trade model, central title registry, authentication body. To resolve these disputes in the Northeast Asia, a variety of electronic alternative dispute resolution bodies must be organized under cooperation of Korea, Japan, China. This study deals with the e-ADR construction in the Northeast Asia to resolve the disputes in the e-trade and to activate the e-trade in the Northeast Asia.

• Journal of Arbitration Studies
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• v.30 no.4
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• pp.163-177
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• 2020

There are several ways to implement charter parties in the operation of the vessel. Under the time charter party, the charterer borrows the vessel from the shipowner and uses the vessel to benefit his business. The time charter party's legal relationship can be divided into internal and external relationships. This article deals with an internal relationship. The legal matters between the shipowner and charterer are regulated by the agreement. The NYPE is the most widely circulated type of time charter party. According to the NYPE, navigational matters fall upon the shipowner while business matter falls upon the time charterer. There are vague parts in interpreting NYPE articles. NYPE Art. 8, called the employment clause, is one of them. The Master employed by the shipowner should follow the order of the charterer. Whether the charterer has the right to order the Master of the vessel to follow the navigating route recommended by him was addressed in the Hill Harmony case by the UK Supreme Court. The court was affirmative. Under the Ocean Victory case, whether the time charterer has an obligation to order the Master to go out to escape heavy weather from the berth at the port was at issue. The Japanese lower court decided negatively. There is a tendency that many countries insert default rule in the maritime law to apply it to the case at issue in a case where there is no agreement. It serves the enhancement of legal stability; China, Japan, and Germany are such countries. The author thinks that Korea should follow the above three countries' revision of their maritime law.

• Journal of Arbitration Studies
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• v.27 no.1
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• pp.183-203
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• 2017

Two solution approaches have been suggested globally to solve the crisis of bill of lading; that is to say, electronic bill of lading and sea waybill. Electronic bill of lading is not unsettled as a solution to solve the crisis of bill of lading but sea waybill is used on a global basis to do so. The surrendered bill of lading is applied for practical usage instead of sea waybill in a short voyage among Korea, China, and Japan, owing to faster delivery at destination and lower cost than bill of lading. To surrender the original bill of lading, the consignor should submit all originals with a request letter to the carrier of goods with necessary surrender charges, if any, in doing so. Once after receiving the original bills of lading consisting of normally three originals but in some cases five, the carrier stamped "Surrendered" on the front of original bills of lading and sent a message to his counterpart at the port of destination, stating that the original bill of lading surrendered at the port of shipment and the consignee can take delivery of the goods without production of the original bill of lading at destination. The legal regime of the surrendered bill of lading is not settled as it is not considered legally as bill of lading, and the decisions rendered by each nation's courts are different according to the usages of the surrendered bill of lading. The purpose of this paper is to prevent the disputes between parties with regard to the surrendered bill of lading by studying the causes and precautions of disputes in relation to the surrendered bill of lading.

• Journal of Korea Trade
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• v.24 no.8
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• pp.171-188
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• 2020

Purpose - This is an exploratory study that aims to apply text mining techniques, which computationally extracts words from the large-scale text data, to legal documents to quantify trade claim contents and enables statistical analysis. Design/methodology - This is designed to verify the validity of the application of text mining techniques as a quantitative methodology for trade claim studies, that have relied mainly on a qualitative approach. The subjects are 81 cases of arbitration and court judgments from China published on the website of the UNCITRAL where the CISG was applied. Validation is performed by comparing the manually analyzed result with the automatically analyzed result. The manual analysis result is the cluster analysis wherein the researcher reads and codes the case. The automatic analysis result is an analysis applying text mining techniques to the result of the cluster analysis. Topic modeling and semantic network analysis are applied for the statistical approach. Findings - Results show that the results of cluster analysis and text mining results are consistent with each other and the internal validity is confirmed. And the degree centrality of words that play a key role in the topic is high as the between centrality of words that are useful for grasping the topic and the eigenvector centrality of the important words in the topic is high. This indicates that text mining techniques can be applied to research on content analysis of trade claims for statistical analysis. Originality/value - Firstly, the validity of the text mining technique in the study of trade claim cases is confirmed. Prior studies on trade claims have relied on traditional approach. Secondly, this study has an originality in that it is an attempt to quantitatively study the trade claim cases, whereas prior trade claim cases were mainly studied via qualitative methods. Lastly, this study shows that the use of the text mining can lower the barrier for acquiring information from a large amount of digitalized text.

• The Korean Journal of Air & Space Law and Policy
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• v.28 no.2
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• pp.223-258
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• 2013

1967 Outer Space Treaty(Treaty on Principles Governing the Activities of States in the Exploration and Use of Outer Space, including the Moon and Other Celestial Bodies; OST) is a treaty that forms the basis of international space law. OST is based on the 1963 Declaration of Legal Principles Governing the Activities of States in the Exploration and Use of Outer Space announced by UNGA resolution. As of May 2013, 102 countries are states parties to OST, while another 27 have signed the treaty but have not completed ratification. OST explicitly claimed that the Moon and Other Celestial Bodies are the province of all mankind. Art. II of OST states that "outer space, including the Moon and other celestial bodies, is not subject to national appropriation by claim of sovereignty, by means of use or occupation, or by any other means", thereby establishing res extra commercium in outer space like high seas. However 1979 Moon Agreement stipulates that "the moon and its natural resources are the Common Heritage of Mankind(CHM)." Because of the number of the parties to the Moon Agreement(13 parties) it does not affect OST. OST also established its specific treaties as a complementary means such as 1968 Rescue Agreement, 1972 Liability Convention, 1975 Registration Convention. OST bars states party to the treaty from placing nuclear weapons or any other weapons of mass destruction in orbit of Earth, installing them on the Moon or any other celestial body, or to otherwise station them in outer space. It exclusively limits the use of the Moon and other celestial bodies to peaceful purposes and expressly prohibits their use for testing weapons of any kind, conducting military maneuvers, or establishing military bases, installations, and fortifications. However OST does not prohibit the placement of conventional weapons in orbit. China and Russia submitted Draft Treaty on the Prevention of the Placement of Weapon in Outer Space and of the Threat or Use of Force against Outer Space Objects(PPWT) on the Conference on Disarmament in 2008. USA disregarded PPWT on the ground that there are no arms race in outer space. OST does not have some articles in relation to current problems such as space debris, mechanisms of the settlement of dispute arising from state activities in outer space in specific way. COPUOS established "UN Space Debris Mitigation Guidelines" based on "IADC Space Debris Mitigation Guidelines" and ILA proposed "International Instrument on the Protection of the Environment from Damage Caused by Space Debris" for space debris problems and Permanent Court of Arbitration(PCA) established "Optional Rules for Arbitration of Disputes Relating to Outer Space Activities" and ILA proposed "1998 Taipei Draft Convention on the Settlement of Space Law Dispute" for the settlement of dispute problems. Although OST has shortcomings in some articles, it is very meaningful in international law in considering the establishment of basic principles governing the activities of States in the exploration and use of outer space, including the Moon and Other Celestial Bodies. OST established the principles governing the activities of states in the exploration and use of outer space as customary law and jus cogens in international law as follows; the exploration and use of outer space shall be carried out for the benefit and in the interests of all countries and shall be the province of all mankind; outer space shall be free for exploration and use by all States; outer space is not subject to national appropriation by claim of sovereignty, by means of use or occupation, or by any other means. The principles of global public interest in outer space imposes international obligations erga omnes applicable to all States. This principles find significant support in legal norms dealing with following points: space activities as the "province of all mankind"; obligation to cooperate; astronauts as envoys of mankind; avoidance of harmful contamination; space activities by States, private entities and intergovernmental organisations; absolute liability for damage cauesd by certain space objects; prohibition of weapons in space and militarization of the celestial bodies; duty of openness and transparency; universal application of the international space regime.

• The Korean Journal of Air & Space Law and Policy
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• v.19 no.2
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• pp.9-53
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• 2004

This paper described the contents of theme entitled "Domestic Legislative Problems on the Civil Liability of Air Carrier in Korea" including the current example of fourteen countries' legislation ((1) Great Britain, (2) United States of America, (3) Canada, (4)European Union), (5) Germany, (6) France, (7) Italy, (8) Spain, (9) Swiss, (10) Australia, (11) Japan, (12) People's Republic of China, (13) Taiwan, (14) North Korea) relating to the aviation law or air transport law. Though the Korean and Japanese aviation act has provided only the public items such as (1) registration of aircraft, (2) persons engaged in aviation, (3) operation of aircraft, (4) aviation facilities including airport, (5) air transport business, (6) investigate of aircraft accidents etc., but they could not regulated the private items such as the legal relations of the air transport contract (1) air passenger ticket, (2) air luggage ticket, (3) airway bill, (4) liability of air carrier, (5) amount of compensation for damage caused by aircraft accidents, (6)jurisdiction, (7) arbitration, (8) limitation of action, (9) combined carriage, (10) carriage by air performed by an actual carrier other than contracting carrier, damage caused by aircraft to the third parties etc. in their aviation act until now. In order to solve speedily the legal problems on the limitation of air carrier's liability and long law suit and disputes between wrongdoers and survivors etc, it is necessary and desirable for us to enact a new "Draft for the Air Transport Act" including the abovementioned private items. I would like to propose personally and strongly the legislation of "Draft for the Air Transport Act" in Korea in emphasizing the importance of ensuring protection of the interests of consumers air passengers and shippers in carriage by air and the need for equitable compensation between air carriers and survivors caused by the aircraft accidents such as the German Air Transport Act (Luftverkerhrsgesetz).