• Korean Journal of Artificial Intelligence
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• v.7 no.1
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• pp.13-16
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• 2019

While the Chinese banks have started the impact of foreign banks. At the same time, rising pressure on foreign exchange reserves and appreciation of the renminbi has prompted Chinese banks to go abroad and diversify their risks. The financial crisis of 2008 has caused the continued turbulence of the major financial markets around the world, and the valuation of foreign financial institutions has been drastically shrinking, providing opportunities for Chinese banks to carry out overseas M&A. Based on the overseas M&A status of Chinese commercial banks, this paper sums up the characteristics of the overseas M&A. Then taking a series of overseas M&A conducted by ICBC from 2006 to 2011 as an example, it analyzes the relationship between M&A and performance growth using grey incidence model. The test shows: there is a positive correlation between both overseas M&A and interest rate differential with performance growth of ICBC, and overseas M&A transactions role in promoting the performance growth is significantly higher than the interest rate differential.

• International Commerce and Information Review
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• v.1 no.2
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• pp.249-271
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• 1999

This article deals with concept and theory of privacy and personal data on the basis of understanding of this matter, Especially concerns the infringement and protection of privacy and personal data that is violated by new media and electronic commercial transaction through case study and research of literature. The article seek to find out the resolution of legal problems on the protection of privacy and personal data. The resolution is in other words, that privacy and personal data protection law shall be established as a part of efforts to protect personal data and to activate electronic commercial transactions.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.43
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• pp.201-238
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• 2009

The purpose of this paper is to describe the contents and issues of the draft legislation of Part VI the Carriage by Air of Korean Commercial Code in respect of the domestic carriage of cargo by air, comparing to the related provisions of the Montreal Convention of 1999 for the unification of certain rules for international carriage by air and the related provisions of Korean Commercial Code in respect of the carriage by land and sea. The Montreal Convention in respect of the international carriage by air was adopted in 1999, and Korea has ratified the Montreal Convention in 2007. However, there is now no national legislation in respect of the carriage by air in Korea. Thus, the Ministry of Justice has prepared the draft legislation of Part VI the Carriage by Air of the Korean Commercial Code in July 2008, and the draft legislation is now being reviewed by the National Assembly. The draft provisions of Part VI the Carriage by Air are basically adopting most of the related provisions of the Montreal Convention in respect of the carriage of cargo by air and some draft provisions are applying the related provisions of the Korean Commercial Code in respect of the carriage of cargo by land and sea. In respect of the carriage of cargo by air, the contents of the draft legislation of Part VI the Carriage by Air are composed of the provisions in respect of the liability of the carrier, the rights of the consignor and consignee, the transport document and others. In respect of the carriage of cargo by air, the issues on the draft legislation of Part VI the Carriage by Air are the problems with respect to the extinguishment of the liability of the carrier, the application for the non-contractual claim, the liability limit of the servants or agents of the carrier, the right of disposition of cargo, the effect of breach of the provision in respect of the air transport document, the prescription of claim of the carrier, the immunity reasons from liability of the carrier for the loss or damage of the cargo, the making out of the air waybill, and the effect of the statement of the air transport document. In conclusion, the national legislation of Part VI the Carriage by Air of the Korean Commercial Code will protect the right and interest of the consignor and consignee, and clarify the right and duty of the parties to the air transport. Also it will contribute to the development of the air transport industry in Korea.

• Journal of the Korean Society of Manufacturing Process Engineers
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• v.14 no.3
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• pp.131-140
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• 2015

The purpose of this study is to predict the fatigue life of a planet carrier of a slewing reducer for a tower crane. To predict the fatigue life of the carrier, the inertia endurance test was carried out, and then the input torque profile for the reducer was obtained. The load profile acting on the planet pins that assembled the carrier was calculated from the measured input torque profile using commercial gearbox analysis software. The stress profiles of the carrier weak points were analyzed from the calculated load profile and boundary conditions using commercial FE software, and the stress cycles were determined using the rainflow counting method. Finally, the fatigue life of the carrier was predicted using the equivalent stress range by considering the effect of mean stress, and an S-N curve was drawn up using the GL guideline and the cumulative damage law.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.12
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• pp.39-64
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• 1999

Under the CISG, there is a unequitable factor in comparing buyer's remedy with seller's remedy. In my opinion, CISG is more unequitable remedy clause than UCC or UNIDROIT principle of International Commercial Contract(1994) between seller and buyer. First, buyer who accepted defect goods must give seller notice the facts that seller delivered defect goods in two years after accepting defect goods. The cap of two year is unreasonable in a position of aggrieved buyer. This is being provided as 'within reasonable time' in UCC and there is no such provision in UNIDROIT Principle. Second, Buyer can avoid contract when seller breached fundamentally contract or seller didn't set a additional performance period about breaching of contract. Accordingly if buyer would not set a additional performance period, although seller's breachment of contract, he could not avoid the contract. Therefore, From a viewpoint of aggrieved buyer avoidable right of contract is restrainted. Third, to compare seller's remedy with buyer's, seller have more opportunity to cure breachment of contract than buyer. Under the CISG buyer is relatively placed at disadvantage in remedy of aggrieved party. In connection with remedy of aggrieved party, 'UNIDROIT principle of international commercial contracts' instead seller and buyer of aggrieved party, so there is not unequitable factor in remedy of aggrieved parties.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.75
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• pp.117-136
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• 2017

Trade finance services have been played an important role in the Korea trade development history since 1960's. These days the trade environment is confronted by the 4th Industrial revolution and new trade protectionism. So we need to improve the Korea Trade Finance Services in order to improve Korea trade volume. Bank of Korea(BOK) also revised the Rule of Korea Trade Finance in 2014 and enlarged the trade fund for commercial banks where they handle the trade finance to small and medium enterprises(SME) in 2016. This article handle the current state and problems of Korea trade finance services and suggest the improvement measures as follows; First, the commercial banks, which handle trade finance fund, should improve the customs and practice of judge loan for SMEs. Second, the export volume counting rule for trade loan should harmonize between BOK's Rule and Foreign Trade Management Regulation under the Foreign Trade Act. Third, the processing trade and intermediate trade also can use the trade finance like other trade. Fourth, Trade finance should be in balance between export and import finance to defend the new protectionism. It means that the trade finance should expand to import in the certain conditions. Lastly, the related trade promotion agencies and their employees should improve their skills and abilities for handling trade finance.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.35
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• pp.125-144
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• 2007

The objective of this study is to find out whether Korean companies which are doing a lot of commercial transactions with Indian companies can consider appointing ICA as a trustworthy institution and using ICA arbitration rules as a governing arbitration rule, when a dispute between Korean companies and Indian companies occurs. Up to now, in the case of dispute with Indian companies, Korean companies are hesitant to utilize ICA as well as ICA arbitration rules as a alternative dispute resolution, owing to lack of understanding on its rules. But, it is obvious that Korean companies which come to have better knowledge on ICA and its rules may consider more positively using ICA as well as ICA arbitration rules as a dispute resolution rather than using other arbitration institutions like ICC and KCAB etc. in the case of disputes with Indian companies because ICA arbitration rules are very objective and similar to other arbitration rules like ICC rules as well as KCAB(Korean Commercial Arbitration Board) international arbitration rules which are frequently being used by Korean companies and also have other several advantages like cheaper cost of arbitration and fast track arbitration procedures. In conclusion, ICA and its rules can also be recommended as a public-trustworthy arbitration option if Korean companies want to resolve some dispute cases with Indian companies.

• Journal of Institute of Convergence Technology
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• v.11 no.1
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• pp.33-37
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• 2021

The application of multicopters using a battery is limited by the short endurance due to the low energy density. A propeller is one of crucial components that determine the performance of the multicopter. In the present study, a systematic method for predicting the endurance of multicopters is described. Propeller performance database are constructed using the data from UIUC Propeller Data Site. Using the 'trendline' function of MS Excel software, the performance of the commercial propellers are represented as a function of polynomials. The multicopter's endurance is computed iteratively using Peukert's Law and considering the voltage drop effect. We evaluated the endurance of multicopters that use commercial propellers. The endurance of the multicopter was within the range of 28 min. to 36 min. It is expected that the present method can be utilized for optimal propeller selection for the given multicopters.

• Journal of Arbitration Studies
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• v.16 no.3
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• pp.53-89
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• 2006

At its thirty-second session(Vienna, 17 May-4 June 1999), the UNCITRAL decided that the priority items for the Working Group(Arbitration and Conciliation) should include enforceability of interim measures and the requirement of written (on for the arbitration agreement. The Working Group, at its forty-third session(Vienna, 3-7 October 2005), it had undertaken a detailed review of the text of the revised article 17 of UNCTTRAL Model Law on International Commercial Arbitration, and it had resumed discussions on a draft model legislative provision revising article 7, paragraph (2) of UNCITRAL Model Law. The purpose of this paper is to make research on the contents and issues of the draft legislative provisions on interim measures and preliminary orders, and on the form of arbitration agreement which the Working Group discussed and adopted at its forth-fourth session(New York, 23-27 January 2006). The draft legislative provisions on interim measures and preliminary orders are composed of the following provisions : Article 17-power of arbitral tribunal to order interim measures; article 17 bis-conditions for granting interim measures; article 17 ter-applications for preliminary orders and conditions for granting preliminary orders; article 17 quater-specific regime for preliminary orders; article 17 quinquies- modification, suspension, termination; article 17 sexies-provision of security; article 17 septies-disclosure; article 17 octies-costs and damages; article 17 novies recognition and enforcements; article 17 decies-grounds for refusing recognition or enforcement; article 17 undecies-court-ordered interim measures. There are the following issues in the draft legislative provisions on interim measures and preliminary orders : form of issuance of an interim measures in article 17(2); conditions for granting interim measures in article 17 bis; purpose, function and legal regime of preliminary orders in article 17 ter; obligation of arbitral tribunal to give notice, and non-enforceability of preliminary orders in article 17 quater; burden of proof, interplay between article 17 decies and article 34, and decision on the recognition and enforcement of the interim measures in article 17 decies; placement of article 17 undecies; amendment of scope exception of application in article 1(2). The draft legislative provisions on the form of arbitration agreement are composed of the following provisions : article 7(1) definition of arbitration agreement; article 7(2) arbitration agreement in writing; article 7(3) arbitration agreement if its terms(content) are (is) recorded in any form; article 7(4) arbitration agreement by an electronic communication; article 7(5) arbitration agreement in an exchange of statements of claim and defence; article 7(6) reference to any document containing an arbitration clause. There are the following issues in the draft legislative provisions on the form of arbitration agreement : arbitration agreement in writing in article 7(2); terms or contents of arbitration agreement in article 7(3); arbitration agreement by electronic communication in article 7(4); existence of arbitration agreement in article 7(5); reference to any document containing an arbitration clause in article 7(6); the alternative proposal on article 7; amendment to article 35(2).

• Ocean and Polar Research
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• v.45 no.1
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• pp.11-22
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• 2023

For the commercial development of deep-sea mineral resources, the International Seabed Authority is engaged in wide ranging discussions to establish the Regulations on Exploitation. The core issue of the Regulations on Exploitation is how to protect the marine environment along with the royalty system that distributes the profits from such development. The United Nations Convention on the Law of the Sea stipulates the protection of the marine environment in Part 12 (Articles 192-237) for the preservation of the marine environment, and in the 1994 Implementation Agreement, the protection of the marine environment at the stage of application for approval of the plan of work together with the Regulations on Exploration for the protection of the marine environment. For this purpose, certain obligations are imposed on the applicants. In the Regulations on Exploitation, financial systems such as environmental performance guarantee, insurance, and environmental compensation funds, which were not found in the Regulations on Exploration, are added to further specify the measures for marine environment protection generally stipulated in the 1982 Law of the Convention or 1994 Implementation Agreement. Regarding the financial system for marine environment protection, the Marine Environmental Protection and Conservation Informal Working Group meeting is revising the purpose of the environmental compensation fund. Among these financial system elements, it is judged that there is a possibility that the environmental performance guarantee and insurance may overlap considerably, and it is also thought that the establishment of the environmental compensation fund can also provide a substantial sum of money that will meet the purpose of the compensation fund in terms of securing its financial resources. In this paper, the question is posed as to whether or not this can be accomplished. In this respect, this paper examines the environmental performance guarantee, insurance, and environmental compensation fund, which are necessary for the protection of the marine environment of the deep seabed, but which can impose appropriate obligations on contractors for the commercial development of deep seabed mineral resources. At the same time as figuring out how it is operated in relation to relevant domestic laws, I would like to propose a plan to reflect the implications derived from the domestic law operation process in the Regulations on Exploitation.