• Journal of Aerospace System Engineering
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• v.5 no.1
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• pp.24-29
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• 2011

The industry related to commercial space transport is growing rapidly as a futurity industry all over the world and America is leading them. If this trend continues, domestic individuals or private enterprises may plan for the commercial space transport business by adopting the advanced technology. Therefore it is necessary to make a law to control the business in our country for the industrial development and the growth related to commercial space transport. This paper provides outline for domestic commercial space transport law by the study and analysis of U.S. commercial space transport laws.

• Journal of Korea Trade
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• v.26 no.7
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• pp.167-184
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• 2022

Purpose - This paper analyzes all possible issues that need to be considered in case disputes occur with regard to force majeure in international commercial contracts through the comparative study between English and Korean during COVID-19. Design/methodology - This paper belongs to the field of explanatory legal study, which aims to explain and test whether the choice of law is linked to the conditions that occur in the reality of judicial practice. The juridical approach involves studying and examining theories, concepts, legal doctrines, and legislation that are related to the problem. Findings - English law does not permit general economic impracticability to qualify as a valid force majeure event. If a party asserts that they were prevented from performing the contract, the courts will examine this strictly. Many commercial contracts in a broad range of sectors and industries are chosen by parties to be governed by English law. With COVID-19, there have been discussion of parties being released from performance as a result of force majeure. Meanwhile, under Korean law, a force majeure event should be unforeseeable and beyond a party's control. Since COVID-19 is a known event for future contracts, to avoid the risk that a similar situation in the future is deemed foreseeable and under a party's control, parties must ensure that such a risk is properly addressed in a contract. Therefore, it is necessary to have a new clause to cover a pandemic. Originality/value - In light of the ongoing unexpected and uncertain economic impacts COVID-19 is expected to bring to the world, it is anticipated that companies will experience an increased number of claims involving force majeure around the world, including English and Korea. As such, taking proactive steps to assess the applicable legal principles, including the concept of force majeure of contract, will help companies be prepared for the financial or legal implications of COVID-19. In this regard, it would be advisable for companies and businesses to take specific actions.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.76
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• pp.21-47
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• 2017

Interim measures by an arbitral tribunal aim to protect the parties' rights before or during arbitral proceedings for avoiding frustration of the final award in international commercial disputes. Even though decisions of the interim measure are expected to be performed by parties directly during the arbitral processing, it is not easy to be provided by the arbitral tribunals cause of lack the power to enforce their decisions directly against the parties. Particular court supports mechanism for enforcement directly to assistance to arbitral tribunal's decisions. Decisions on interim measures are provisional. Even though the arbitration is ongoing to request interim measure directly to the arbitral tribunal, relevant courts are able to ensure effective relief cause by the difficulty of limited rights of the arbitral tribunal. In this time both revised Korean Arbitration Act in 2016 and UNCITRAL 2006 revised Model Law are complemented to attach articles for recognition and enforcement of interim measures by arbitral tribunal during the arbitration processing. It could be possible to enforcement of decisions of interim measures by arbitral tribunal on the revised arbitration law. In this paper it is considered the problems and alternatives on related applicable articles and articles of recognition and enforcement for the interim measures by arbitral tribunal under the revised UNCITRAL Model law and Korean Arbitration Act.

• Journal of the Korean Society of Marine Environment & Safety
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• v.26 no.2
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• pp.156-162
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• 2020

Since the early 20th century, there have been reviews and legislations regarding the legal status of the Government ships operated for non-commercial purposes. In particular, as criticized in the absolute theory of immunity in conventional international law, the sovereign immunity theory has become more vital as a restrictive theory for immunity. As per the customary international law and international law of the sea, non-commercial government vessels, including warships, are provided with sovereign immunity on the sea. National universities of Korea have built and operated training ships and survey ships for educational purposes, such as training high-grade mariners and fishing practices. These training ships sail not only on the national maritime jurisdictions but also on the maritime jurisdictions of other States and the high sea. Therefore, clarifying the legal status of national university training ships is one of the important factors in international navigation according to international law. However, it is not easy to answer the question of the legal status of the training ship. Hence, this article analyzes the parameters that define the Government ship operated for non-commercial purposes and examines whether national university training ships are in line with the relevant criterion. Furthermore, the article analyzes the scope of sovereign immunity in conventional international law and international conventions and identifies the scope of sovereign immunity enjoyed by the national university training ships according to international law.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.77
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• pp.145-168
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• 2018

The purpose of this paper is to introduce the limitation of liabilities of multimodal transport operators(MTO) in Korea. Also, this paper reviews the revised draft of Korean Commercial Code in 2015. This paper analyzes Korean multimodal transport systemand the limitation of liabilities of MTO by analyzing articles, regulations and practices of Korean Commercial Code and it's the draft in 2015. The paper, also, studies multimodal transport rules by comparing specifically international treaty, rules, or practices. In Korea, Article 816 of Commercial Code treats multimodal transportation adopting the network liability regime. The Article describes only the case of the multimodal transportation where the maritime carriage is engaged. Korea proposed the draft of multimodal transport regulation of Commercial Code in 2015 because present law could not apply for the multimodal transportation involved in the air or land carriage. This paper support the draft of Korean Commercial Code in 2015 because it is necessary to make a predictable legal system of multimodal transport and the limitation of liability reflecting practices or customs.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.68
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• pp.123-148
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• 2015

Central Asian Countries had been independent in 1991 from USSR. Since then it have been increasing foreign trade and investment amount with outside countries including China, Japan, EU and South Korea. Korean enterprises and entities have endeavored to secure plentiful natural resources, oil and gas energy and expand the market share to exporting the consuming and industrial competitive goods and services for those countries. In the case of disputes of commercial transactions and investment, arbitration is regarded as a dispute resolution system which has been preferred in international transactions and investments by the business world. Since the collapse of the USSR, Central Asian Countries have worked to modernize its arbitration law and procedure to conform with international standard rules. Arbitral legislation in Central Asian countries is based on the Model Law as adopted in 1985. However, CIS's legislation systems of arbitration are not satisfied with the international standard in national laws and practices. That is the reason to consider for the specific parliament about arbitration for the dispute resolutions in the commercial transaction and investment between Korean enterprises and CIS. In this article, it is discuss problems and its alternatives in the dispute resolution about the commercial transaction and investment into Central Asian countries including the tendency to the increasing the trade volumes of goods and investment between South Korea and CIS. According to this article, South Korea consider the long term strategy followed the preferred economic relative partnership for business success on commercial transaction and investment with the Central Asian Countries.

• Journal of Arbitration Studies
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• v.7 no.1
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• pp.33-54
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• 1997

• Korea Trade Review
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• v.45 no.1
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• pp.221-239
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• 2020

Among various export contracts, the contents of contracts are very important. Various companies make use of this method. [Which method are you talking about?] However, the Korean law system has an insufficient understanding of the international legal system. This paper looks into the conditions related to contracts in relation to the legal system. This paper analyzes not only the Korean civil law system about illegality of contracts but also makes a comparison with other international systems, such as the UNIDROIT Principles. Especially, the Korean civil law system about the illegality of contracts is comparable with the UNIDROIT Principles system about illegality of contracts. The purpose of this paper is to examine the revitalization of Illegality of Contract. This paper also deals with improvement of International Commercial Activation. Thus, this paper will offer directions to International Trade Practitioners. There is disagreement regarding methods of action related to international trade practice. Especially, this study is good for commercial parties, especially overseas sales people.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.16
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• pp.331-359
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• 2001

Uniform Electronic Transactions Act (1999) Drafted by the National Conference of Commissioners on Uniform State Laws. The Act allows the use of electronic records and electronic signatures in any transaction, except transactions subject to the Uniform Commercial Code. The fundamental purpose of this act is to remove perceived barriers to electronic commerce. The Act's a procedural statute. It does not mandate either electronic signatures or records, but provides a means to effectuate transactions when they are used. The primary objective is to establish the legal equivalence of electronic records and signatures with paper writings and manually-signed signatures. With regard to the general scope of the Act, the Act's coverage is inherently limited by the definition of "transaction." The Act does not apply to all writings and signatures, but only to electronic records and signatures relating to a transaction, defined as those interactions between people relating to business, commercial and governmental affairs. The exclusion of specific Articles of the Uniform Commercial Code reflects the recognition that, particularly in the case of Articles 5, 8 and revised Article 9, electronic transactions were addressed in the specific contexts of those revision processes. In the context of Articles 2 and 2A the UETA provides the vehicle for assuring that such transactions may be accomplished and effected via an electronic medium. At such time as Articles 2 and 2A are revised the extent of coverage in those Articles(Acts) may make application of this Act as a gap-filling law desirable. Similar considerations apply to the recently promulgated Uniform Computer Information Transactions Act (UCITA). Another fundamental premise of the Act is that it be minimalist and procedural. The general efficacy of existing law, in an electronic context, so long as biases and barriers to the medium are removed, confirms this approach. The Act defers to existing substantive law. Specific areas of deference to other law in this Act include: i) the meaning and effect of "sign" under existing law, ii) the method and manner of displaying, transmitting and formatting information in section 8, iii) rules of attribution in section 9, and iv) the law of mistake in section 10.

• Journal of Korea Trade
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• v.24 no.6
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• pp.19-36
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• 2020

Purpose - This paper analyzes how to interpret the legal view of the precedents to the UK Insurance Act 2015, comparing it to the UK Marine Insurance Act (MIA) 1906 with a focus on the relationship between the duty of uberrimae fidei and the duty of disclosure. Furthermore, this study focuses on the judgment of the Korean Supreme Court in a case, that examined whether the legal nature of the duty of disclosure or duty of uberrimae fidei in insurance law can be considered as a matter related to the insurer's liability when the applicable terms of English law are incorporated under the insurance contract. Design/methodology - This paper belongs to the field of explanatory legal study, which aims to explain and test whether the choice of law is linked to the conditions that occur in the reality of judicial practice. The approach that is used toward this problem is the legal analytical normative approach. The juridical approach involves studying and examining theories, concepts, legal doctrines and legislation that are related to the problem. Findings - Regarding the requirements and effects of breach of the duty of disclosure, if English law and the Korean Commercial Act are handled differently from each other and Korean law is recognized as the applicable law outside of the insurer's liability, it may be whether the insurer's immunity under English law is contrary to s.633 of the Korean Commercial Act. In considering the breach of the duty of disclosure as a matter of the insurer's liability, even if English law is applied as a governing law, the question of how to interpret the agreement of the governing law in this case may also be raised in the interpretation of Korean International Private Law in relation to the applicable law that applies to the rest of the matter, excluding the matters of liability. Originality/value - According to the Korean Supreme Court judgement under the governing law of the MIA 1906, the basis for recognizing the assured's pre-and post-contractual duty of disclosure is separate, and the only important matters to be notified by the assured after the conclusion of the insurance contract are those that are "relevant" and "material circumstances" that are "relevant" to the matter in question after the conclusion of the insurance contract.