• Information Systems Review
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• v.22 no.2
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• pp.201-217
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• 2020

Information security is an essential element not only to ensure the operation of the company and trust with customers but also to mitigate uncertain damage by preventing information data breach. Therefore, It is important to select appropriate information security countermeasures and determine the appropriate level of investment. This study presents a decision support model for the appropriate investment amount for each countermeasure as well as an optimal portfolio of information countermeasures within a limited budget. We analyze statistics on the types of information security breach by industry and derive an optimal portfolio of information security countermeasures by using genetic algorithms. The results of this study suggest guidelines for investing in information security countermeasures in various industries and help to support objective information security investment decisions.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.42
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• pp.163-186
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• 2009

On April 11, 1980, the "United Nations on Contracts for the International Sale of Goods" ("CISG") was prepared by the United Nations Commission on International Trade Law (UNCITRAL) and approved by a diplomatic conference in Vienna providing uniform law for international sales of goods. It took effect as of March 1, 2005, in Korea. It is set forth on the seller's remedies for breach by the buyer Section III (Art. 61 - 65) under the CISG. In this study, the focus is only on the seller's notice fixing additional final period for performance (Art. 63) and the right to avoid the contract (Art. 64), with examination on some relevant foreign arbitral awards rendered by the ICC and the CIETAC together. Article 63 provides that the seller may fix an additional period of time for reasonable length for performance by the buyer of his obligation. It was found from the above arbitral awards that the concept of 'reasonable length' should be decided on a case-by-case basis, given the specific circumstances in the case [Art. 63(1)]. It is provided that unless the seller has received a notice that he will not perform within the period so fixed, the seller may not, during that period, resort to any remedy for breach of contract in accordance with Article 63(2). Article 64(1) provides the means and grounds for avoidance of the contract, which can be avoided 1) when the breach of the buyer amounts to a fundamental breach of contract, or 2) when the additional period of time is fixed by the seller, unless the buyer declares that he will not perform so within the period of fixed time. As we examined in the above arbitral awards, it was held that the contract is avoided when the seller sends the final notice stating that he will avoid the contract, after the expiration of the additional period of time fixed by the seller in the ICC award. On the contrary, it was held that the contract should be deemed to be avoided exactly when the expiration of additional period noted in the avoidance notice is elapsed in the CIETAC award. Article 64(2) sets time limits for avoidance.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.44
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• pp.111-180
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• 2009

According to English law, in a voyage policy there is an implied warranty that at the commencement of the voyage the ship shall be seaworthy for the purpose of the particular adventure to be insured. However, Unites States law affords the implied warranty of seaworthiness a great deal of latitude. In the case of voyage policies, it has been traditionally held that the assured is bound not only to have his vessel seaworthy at the commencement of the voyage but also to keep her so, insofar as this can be achieved by himself and his agents, throughout the voyage. Additionally, a defect in seaworthiness, arising after the commencement of the risk, and permitted to continue from bad faith or want of ordinary prudence or diligence on the part of the insured or his agents, discharges the insurer from liability for any loss consequent to such bad faith, or want of prudence or diligence; but does not affect the insurance contract in reference to any other risk or loss covered by the policy, and which is not caused or exacerbated by the aforementioned defect. One of the most important areas of difference in the marine insurance contract between the U.K. and U.S. is the breach of warranty. Prior to the Wilburn Boat case, the MIA was thought to hold that the effect of a breach of warranty was similar under American law -in that under the general maritime law literal compliance with all promissory warranties is required. In this case, the Court concluded that state law should apply to a marine insurance policy, and found that there was no federal rule addressing the consequences of a breach of warranty in marine polices. However, it is of the utmost importance that this case brought to a close the imperative concordance between English and American law. Meanwhile, in relation to marine insurance contracts in Korea, this insurance is subject to English law and practice;, additionally, the international trade volume between Korea and the United States has assumed a vast scale. Therefore, we believe it is important to understand the differences in marine insurance law between the two countries in terms of marine insurance contracts, and most specifically warranties.

• Culinary science and hospitality research
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• v.22 no.7
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• pp.187-202
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• 2016

The purpose of this study was to better understand the influence of psychological contract breach in deluxe hotel culinary staff memeberss on job satisfaction and turnover intention. Based on a total of 280 samples obtained for empirical research, this study reviewed the reliability and fitness of the research model and verified a total of 4 hypotheses using the AMOS program. The hypothesized relationships in the model were simultaneously tested by using a structural equation model(SEM). The proposed model provided an adequate fit to the data, ${\chi}^2=334.152$ (p<.001), df=162, CMIN/DF=2.063, GFI=.893, AGFI=.861, NFI=.919, CFI=.956, RMSEA=.062. The model's fit, as indicated by these indexes, was deemed satisfactory, thus providing a good basis for testing the hypothesized paths. The SEM showed that relational contract breach (${\beta}=-.236$) had a negative significant influence on job satisfaction. In addition, job satisfaction (${\beta}=-.236$) had a negative significant influence on turnover intention. The moderating effects on career the formulated model was verified. Limitations and future research directions are also discussed.

• Information Systems Review
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• v.9 no.1
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• pp.105-120
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• 2007

With the fast development of the Internet and the increasing dependence on information infrastructures, companies are faced with various information security threats such as information leakages, modifications, and information breaches. South Korea is one of the leading countries in the Internet usage, but is ranked relatively low when it comes to information security. In fact, many Korean firms have suffered financial losses and damaged corporate images from the information security breaches. However, because of the difficulties in quantifying the costs of the information security breaches, Korean companies tend to delay their investment decisions on information security. The purpose of this study is to measure the cost of information security breach and the economic value of security investment using the event study methodology. Our results show that the announcement of an information security breach negatively influenced the market value of the corresponding company. The effect was statistically significant at the significance level of p=0.05. The breached companies lose, on average, 0.86% of their market values on the day of the announcement - an average loss in market capitalization of $55 million. On the other hand, the investment on information security had no effect on the stock price or the market value of the firm.

• The Journal of Engineering Geology
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• v.24 no.1
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• pp.53-67
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• 2014

Numerical modeling is commonly used to reproduce the physical phenomena of dam-break and to compile resulting flood hazard maps. The accuracy of a dam-break model depends on the physical structure that describes the volume of storage, breach formation and progress, input variables, and model parameters. Model input and parameters are subjective in that they are prescribed; hence, caution is needed when interpreting the results. This study focuses on three parameters (breach degree ${\theta}$, shape factor P, and collapse rate k) used when the dam-break model is coupled with FLO-2D (a two-dimensional flood simulation model) to estimate flood coverage and depth etc. The results show that the simulation is sensitive to the shape factor P and the collapse rate k but not to the breach degree ${\theta}$. This study will contribute to reducing flood damage from dam-break disasters in the future.

• Journal of the Korea Institute of Information Security & Cryptology
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• v.22 no.2
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• pp.391-400
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• 2012

This study focused on the role of the center for private information, which can manage and share the personal data from data breach incidents. Especially, this study addresses on the importance of establishing information management systems for preventing secondary misappropriation of breached personal data and private information. The database of breached personal data can be used for reducing privacy worries of potential victims of secondary misuse of personal data. Individuals who use the same IDs and passwords on multiple websites may find this service more effective and necessary. The effectiveness of this breached data center on reducing secondary privacy infringement may differ depending on the extend of data being shared and the conditions of data submission. When businesses experienced data breach and submission of data to this center is required by the law, the accuracy and effectiveness of this service can be enhanced. In addition, centralized database with high quality data set can increase matching for private information and control the secondary misappropriation of personal data or private information better.

• Korea Trade Review
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• v.41 no.5
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• pp.187-211
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• 2016

This study discusses the right of suspension of performance against anticipatory breach under SGA. Anticipatory breach originated in Hochster v De La Tour allows the innocent party to exercise immediately the right or rights reserved for the non-performance of obligations. But it has not been codified in English Law. Instead, under SGA s. 41 and s. 44, the seller may suspend his performance against the buyer' anticipatory breach. Lien under s. 41 and stoppage in transit under s. 44 are given only to the seller in a narrowly-defined situation. Under SGA s. 41, the unpaid seller is entitled to retain possession of goods where the buyer becomes insolvent. But under SGA s. 43, the unpaid seller loses the right of lien when he delivers goods to a carrier or other bailee or custodian for the purpose of transmission to the buyer without reserving the right of disposal, or when the buyer or his agent lawfully obtains possession of the goods, or by waiver of lien. Under SGA s. 44, the unpaid seller may exercise the right of stoppage in transit if the buyer becomes insolvent, despite the fact that the property of goods has passed or a bill of lading has been transferred to the buyer. But, under s. 45, the right of stoppage in transit is ended when the buyer or his agent takes delivery of goods. And where the buyer transfers a bill of lading to a sub-buyer, the unpaid seller loses his right to stop goods in transit.

• Journal of Arbitration Studies
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• v.5 no.1
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• pp.365-387
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• 1995

• Proceedings of the Korea Water Resources Association Conference
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• 2005.09b
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• pp.846-847
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• 2005