• The Journal of Fisheries Business Administration
• /
• v.44 no.2
• /
• pp.1-17
• /
• 2013

We investigate the appropriateness of the fixed 12% discount rate to be used in estimating the amount of compensation for revoking a license for fishery business by the Enforcement Decree of Fisheries Act in Korea. We also suggest the appropriate discount rate fully reflecting the change of market interest rate in the Korean financial market. The capital asset pricing model, or, CAPM is the best known model of risk and return, and is widely used to estimate the expected rate of return for the risky projects. Even though the CAPM implies that the discount rate or the expected rate of return should change as the related market factors do, the discount rate used to estimate compensation for revoking a license for fishery business remains to be the same 12% rate for the last 15 years by law. During this period, however, the yield to maturity for the 5-year government bonds in Korea has dramatically changed from about 12% to less than 3%. In order to provide the fair compensation for the damages against the coastal fisheries and evaluate the intrinsic value of fishery resources in the coastal areas, we suggest that the appropriate discount rate should be determined by the yield to maturity of the government bonds with 5-year maturity, instead of the current fixed 12% interest rate.

• Proceedings of KOSOMES biannual meeting
• /
• 2006.11a
• /
• pp.175-179
• /
• 2006

With the rapid development of oil and chemical industry in the late 20C, massive transportation of oil by oil tanker vessel has grown and it caused the big oil pollution accidents. When oil spill from the oil tanker, damages reach into the astronomical figures in economically and damages affect wide area and many people with break the balance of ecosystem. Recently in Korea, the oil pollution accidents has occurred frequently as growing of oil consumption and it caused large-scale damages to the victim. Oil pollution in Korean offshore takes not only korean fishermen from their life ground and break the ecosystem but it takes too much time and money to recover. To minimize oil pollution damages, it is necessary to make pre-caution effort as a ship owner and relevant government bodies should endeavor to prevent from more damages. But once oil pollution accidents occurs in territorial sea, compensation for victim fishermen is very important. But it is true that compensation is not paid to victim smoothly. So this study aims at the problems of oil pollution compensation to the Korean victim and find the best way to get reasonable compensation.

• Journal of the Korea Institute of Information Security & Cryptology
• /
• v.30 no.2
• /
• pp.231-242
• /
• 2020

In the case of damages caused by personal information infringement accidents caused by information infringer such as hackers, the information subject will usually claim damages to the information controller rather than the information infringer who is the perpetrator, and the information controller who has been claimed will claim damages again to the information security enterprise that has entrusted the information protection business. These series of claims for damages, which are expected to be carried out between the information subject, the information controller and the information security enterprise, are nothing but quarrels for transferring of liability among themselves who are also victims of infringement. So the problem of damage compensation should be discussed from the perspective of multi-faceted rational distribution of the damages among the subjects who make up the information security industry ecosystem rather than the conventional approach. In addition, due to the nature of personal information infringement accidents, if a large amount of personal information infringement occurs, the amount of compensation can be large enough to affect the survival of the company and so this study insist that a concrete and realistic alternatives for society to share damages is needed.

• The Korean Journal of Health Service Management
• /
• v.4 no.2
• /
• pp.107-117
• /
• 2010

In this paper, the researcher looked into major issues in the "Act (Draft) on Remedy for Damage from Medical Accident and Medical Dispute Mediation, etc." which was proposed by the Health & Welfare Committee, the National Assembly of the Republic of Korea, and which was pending with the Legislation & Judiciary Committee. Then the researcher pointed out worrisome problems therein and presented suggestion" to improve problematic situations. First of all, the researcher examined the following items which are major points in the aforementioned Act: 1) Establishment of Korea Medical Dispute Mediation and Arbitration Center, 2) Procedures for mediation and arbitration of medical disputes, 3) Establishment of Medical Injury Compensation Association, 4) Introduction of proxy payment for damages, 5) Compensation for no-fault medical accidents, 6) A system concerned with special cases on criminal punishment. Next, the researcher closely reviewed the following possible issues: 1) Limit of arbitrary mediation, 2) Postponement of the system concerned with special case on criminal punishment, 3) Examination of reasons for rejection, 4) Function and role of the Appraisal department, 5) A possibility of being reduced to an evidence collection procedure for lawsuit, 6) A possibility of no-fault compensation rather than injury compensation, 7) Operational issues related proxy payment for damages. Lastly, the researcher presented suggestions on how to improve each problematic issue.

• The Korean Society of Law and Medicine
• /
• v.10 no.2
• /
• pp.11-36
• /
• 2009

This thesis introduces the trends of korean courts' ruling on damages in medical malpractice cases for past 10 years. First of all, Korean courts' ruling have had a tendency to pay only non-economic damages for not taking the informed consent. If a doctor cannot get the informed consent from a patient, he compensate only non-economic damages for the infringement of self-determination rights of patient. It's enough for the plaintiff to prove the infringement of self-determination rights, if the plaintiff just want to get non-economic damages. The Korean Supreme court have ruled that if plaintiffs want to get economic damages for the infringement of self-determination rights or informed consent, plaintiffs must prove that the infringement of self-determination rights is the proximate cause of the economic damages of patient. There is another tendency for the Korean Supreme court to limit the damages in medical malpractice cases on the ground of patient's diseases' dangerousness or patient's idiosyncrasy. In the past courts often limit the damages only to 70~80% of total damages, but now a days courts mostly limit the damages to 20~30%. This thesis also introduce the Korean courts' trends about Valuing damages in personal injury actions awarded for gratuitously rendered nursing and medical care.

• The Korean Society of Law and Medicine
• /
• v.13 no.1
• /
• pp.295-329
• /
• 2012

A medical malpractice case requires special legal protection, considering its characteristics, such as seriousness and long term effects of its damages, medical information asymmetry between practitioners and patients, and difficulties in realization of liability. Taking the points above into consideration, Medical Malpractice Arbitration Act of 2012(MAA) has legislative intent to protect the rights of the injured from medical malpractice, while protecting the stability of medical practice by providing arbitration as an alternative dispute resolution. However, constitutional review is required for one new scheme of compensation for medical injuries during delivery, which is implemented in MAA of 2012, especially with regard to freedom to exercise occupation, property, equality under the Constitution. Two important aspects are 1. according to the law, absolute liability applies to compensation for damages during delivery without negligence of practitioners; and 2. the practitioner bears some portion of the cost, 30% in the law above. This article aims to analyze this new institution in various aspects of the Constitution, and, as a result, it does not comply with constitutional criteria.

• Journal of Arbitration Studies
• /
• v.28 no.4
• /
• pp.43-59
• /
• 2018

This study aims to review various efforts required by medical institutions to prevent medical accidents in advance and to suggest the necessity of introducing liability insurance for medical accidents based on cases abroad and compulsory professional indemnity insurance at home. Over the past five years between 2013 and 2017, the number of inquiries regarding medical accidents and medical disputes has increased by 11.1 percent from 36,099 to 54,929, and the number of mediation and arbitration for medical disputes has increased by 14.3 percent from 1,304 to 2,225. Since some medical accidents even cause social problems, a compulsory insurance system for the liability of medical institutions for damages need to be introduced to promptly compensate the victims of medical accidents and to ensure compensation by medical personnel. In Korea, a system is in place to provide compensation for a client who suffers an accidental damage after receiving professional services, regardless of whether or not the professional service provider can provide compensation. In major foreign countries, a medical liability system is in place that is applied either by the principle of liability with fault, or the principle of liability without fault. In this study, the cases of compulsory insurance and semi-compulsory insurance in the US and Japan to which the principle of liability with fault is applied, as well as the case of New Zealand to which the principle of liability without fault is applied, were examined. It is necessary to urgently introduce the compulsory insurance system for the liability of compensation to prevent medical disputes and to compensate for the life and physical damages of the victims of medical accidents in domestic medical institutions. Doing so is expected to ensure fair compensation for the victims of medical malpractice and compensation by medical personnel, thereby improving medical practice.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
• /
• v.17
• /
• pp.37-69
• /
• 2002

This study sumed up general rules for measuring damages based on SGA, UCC, CISG, PICC legislated by on the base of English decision of Hadley v. Baxendale Concluding marks as follows : (1) General rule for measuring damages is a standard rule that is developed to place the aggrieved party in as good a position as if the party in breach performed the contract. (2) Damages may also be accompanied by other remedies (3) Damages has alternative character (4) Damages give the aggrieved party full compensation (5) It is enough for the aggrieved party simply to prove the non-performance for damages (6) Occurence of harm must be reasonably certain and a direct consequence of non-performance (7) while Rule for measuring damages an UCC is concrete CISG is comprehensive. (8) Although rule of UCC and CISG for damages measurement is a similar in many aspect but there are in expression and range of damage between them. (9) the result of this study will give researchers the opportunity to develope in depth and their report of research also contribute chance to perform business their effective oversea's trade

• Smart Structures and Systems
• /
• v.11 no.4
• /
• pp.349-364
• /
• 2013

Recently, researchers in the field of structural health monitoring (SHM) have been rigorously striving to replace the conventional NDE techniques with the smart material based SHM techniques, employing smart materials such as piezoelectric materials. For instance, the electromechanical impedance (EMI) technique employing piezo-impedance (lead zirconate titanate, PZT) transducer is known for its sensitivity in detecting local damage. For practical applications, various external factors such as fluctuations of temperature and loading, affecting the effectiveness of the EMI technique ought to be understood and compensated. This paper aims at investigating the damage monitoring capability of EMI technique in the presence of axial stress with fixed boundary condition. A compensation technique using effective frequency shift (EFS) by cross-correlation analysis was incorporated to compensate the effect of loading and boundary stiffening. Experimental tests were conducted by inducing damages on lab-sized aluminium beams in the presence of tensile and compressive forces. Two types of damages, crack propagation and bolts loosening were simulated. With EFS for compensation, both cross-correlation coefficient (CC) index and reduction in peak frequency were found to be efficient in characterizing damages in the presence of varying axial loading.

• The Korean Journal of Air & Space Law and Policy
• /
• v.12
• /
• pp.303-320
• /
• 2000