• Journal of Korea Trade
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• v.24 no.4
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• pp.49-70
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• 2020

Purpose - The UCP is recognized as the governing law for L/C transactions, but it covers only the general details of the transaction and does not cover all complex practices. In view of this limitation, this paper examines a negotiation transaction which is most actively utilized in L/C transactions via a thorough review of the UCP provisions, analyzes the problems of the negotiation clause in the UCP, and suggests appropriate countermeasures to deal with unnecessary litigation costs. By doing so, the parties involved in the negotiation transaction would be able to avoid financial costs such as having to pay for lawsuits. Design/methodology - The present study first differentiates the general types of L/Cs (e.g., sight payment L/C, deferred payment L/C, acceptance L/C, and negotiation L/C), explains and the Article 2 and Article 12(b) of the UCP 600 where the term 'negotiation' is used, digs into the drawbacks of 'negotiation' occurring under the UCP 600, and discusses solutions to the problems found by analyzing the drawbacks descriptively. Findings - After a review of the UCP provisions on negotiation in detail, several possible problems which may occur in practice were discovered. First, as the UCP stipulates, the negotiating bank will want to delay payment to the maximum extent possible and make payment on the banking day on which the issuing bank reimburses the amount. This may lead the beneficiary towards bankruptcy or put it in financial crisis. Second, when a fraudulent transaction occurs, the negotiating bank can neither request the issuing bank to reimburse nor can it exercise its recourse right against the beneficiary because it has obtained all the rights of the beneficiary by purchasing the documents. Third, there is a practice in which the beneficiary sells the documents to its transaction bank which is not the nominated bank if the nominated bank specified in the credit is located in a third country or the exporter has no relationship with the nominated bank in the credit. In this case, whether to accept this and reimburse the non-nominated negotiating bank entirely depends on the issuing bank's decision even though such practice frequently occurs in Korea. Originality/value - There has been little research effort pertaining to negotiation transactions in detail even though negotiation L/C transactions account for around 70% in world trade notwithstanding deferred payment L/Cs and acceptance L/Cs that are also negotiated in practice. Thus, if the negotiations clause under the UCP 600 provisions were reviewed and the drawbacks of the negotiation transactions most actively used in L/C transactions were identified and examined, specific countermeasures could ultimately help smoothen the operation of L/C transactions and prevent financial losses.

• Environmental and Resource Economics Review
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• v.31 no.4
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• pp.645-668
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• 2022

Hydrogen energy is emerging as an important means of carbon neutrality in the various sectors including power, transportation, storage, and industrial processes. Fuel cell power plants are the fastest spreading in the hydrogen ecosystem and are one of the key power sources among means of implementing carbon neutrality in 2050. However, high volatility in system marginal price (SMP) and renewable energy certificate (REC) prices, which affect the profits of fuel cell power plants, delay the investment timing and deployment. This study applied the real option methodology to analyze how the dual uncertainties in both SMP and REC prices affect the investment trigger price level in the irreversible investment decision of fuel cell power plants. The analysis is summarized into the following three. First, under the current Renewable Portfolio Standard (RPS), dual price uncertainties passed on to plant owners has significantly increased the investment trigger price relative to one under the deterministic price case. Second, reducing the volatility of REC price by half of the current level caused a significant drop in investment trigger prices and its investment trigger price is similar to one caused by offering one additional REC multiplier. Third, investment trigger price based on gray hydrogen and green hydrogen were analyzed along with the existing byproduct hydrogen-based fuel cells, and in the case of gray hydrogen, economic feasibility were narrowed significantly with green hydrogen when carbon costs were applied. The results of this study suggest that the current RPS system works as an obstacle to the deployment of fuel cell power plants, and policy that provides more stable revenue to plants is needed to build a more cost-effective and stable hydrogen ecosystem.

• The Korean Society of Law and Medicine
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• v.20 no.1
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• pp.163-201
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• 2019

Doctor has the duty of an inter-hospital transfer, known as inter-facility or secondary transfer, when the diagnostic and therapeutic facilities required for a patient are not available at the given hospital. Also, the decision to transfer the patient to an another facility is rely on whether ill patient is the benefits of care, including clinical and non-clinical reasons, available at the another facility against the potential risks. Crucial point to note is that issues about 'inter-hospital transfer' is limited to questions occurred in the course of transfer between emergency medicals (facilities). 'emergency medical (facility)' is specified by Medical Law, article 3 and the duty of an inter-hospital transfer includes any possible adverse events, medical or technical, during the transfer. Because each medical facility has an different ability to care for a patient in an emergency condition, coordination between the referring and receiving hospitals' emergency medicals would be important to ensure prompt transfer to the definitive destination avoiding delay at an emergency. Simultaneously, transfer of documents about the transfer process, medical record and investigation reports are important materials for maintaining continuity of medical care. Although the duty of an inter-hospital transfer is recognized as one of duty of doctor and more often than not it occurs, there is constant legal conflict between a doctor and a patient related to the duty of the inter-hospital transfer. Therefore, we need clear and specific legal standard about the inter-hospital transfer. This paper attempts to review the Supreme Court's cases associated to the inter-hospital transfer and to compare opinion of the cases with guideline for an inter-hospital transfer already given. Furthermore, this article is intended to broaden our horizons of understanding the duty of an inter-hospital transfer and I wish this article helps to resolve the settlement and case dealt with the duty of inter-hospital transfer.

• Journal of the Korean Institute of Landscape Architecture
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• v.44 no.2
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• pp.25-36
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• 2016

This paper discusses the character of communication among participating stakeholders in the Improving Alley Landscapes in Residential Neighborhoods project. The participation of diverse stakeholders in conventional urban redevelopment is considered to delay and complicate the progress of a project. However, in urban regeneration, a field-oriented operating system and collaboration between diverse stakeholders is considered critical to building a sustainable community. A stakeholder is defined as "a person or organization that can influence decision-making or be influenced by it." This paper uses a case study to examine what types of stakeholders participate and what communicative processes and ideas are shared among them. Six neighborhoods were selected out of a total of 26 of Seoul's 2014 Improving Alley Landscapes project. This research was developed through interviews and a review of the literature. The character of communication among stakeholders in the case study is as follows. Firstly, the administration initiated the project but did not show leadership. This was caused by a gap in understanding about the project between city and borough administrations, Further, the city administration lacked experience with projects that placed an emphasis on fieldwork. Tongjand and Banjang, at ancillary institutions, acted as spokespersons and helped people in the community to understand the administrative process. However, because they led communication and used personal relationships to ensure they communicated effectively, the communication process had limits from the perspective of democratic process. Diverse stakeholders expressed their opinions in the public sphere and communicated about them using diverse media. Finally, experts produced the output, facilitated communication, and mediated in conflicts. Because new experts acted as facilitators and mediators, there was a great deal of trial and error. This project has particular significance: Seoul's city government deals with urban space rather than parks and green space, which are limited by boundaries; and whether "green" can be used for urban renovation was tested by several landscape architects, who sought to identify a new role in urban renovation, namely, the role of landscape and landscape architecture. However, the project has some limitations, including an insufficiently detailed project plan, a lack of common understanding among stakeholders, and a short timeframe. A number of stakeholders overcame these limitations to a certain degree. Officials of the Borough and the Dong managed the project and resolved civil complaints. Experts provided special information, and contributed to the design and construction of improvements.

• Asia Marketing Journal
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• v.15 no.4
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• pp.131-159
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• 2014

Corporate rebranding has been evident in the qualitative corporate rebranding studies as an imposed organizational change that induces mixed reactions and ambivalent attitudes among consumers. Corporate rebranding for the established and familiar corporate brands leads to more ambivalent attitudes as these companies represent larger targets for disparaging information. Consumers are found to hold both positive and negative reactions toward companies and brands that they are familiar with. Nevertheless, the imposed change assumption and ambivalent attitude, in particular corporate rebranding, have never been widely explored in the quantitative corporate rebranding studies. This paper aims to provide a comprehensive empirical examination of the ambivalence towards rebrandingrebranded brand attitude-purchase intention relationships. The author proposes that corporate rebranding for familiar corporate brands is a double-edged sword that not only raises the expectation for better performance, but also induces conflicted and ambivalent attitudes among consumers. These consumers' ambivalent attitudes are influenced by both the parent brands-related and general attitude factors which further affect their rebranded brand attitude and purchase intention. A total of 156 useable questionnaires were collected from Malaysian working adults; and two established Malaysian airfreight operators were utilized as the focal parent brands. The study found a significant impact of prior parent brand attitudes on ambivalence towards rebranding (ATR). The parent brand attitudes served as anchors in influencing how new information was processed (Mazaheri et al., 2011; Sherif & Hovland, 1961) and closely related to behavioral intention (Prislin & Quellete, 1996). The ambivalent attitudes experienced were higher when individuals held both positive and negative reactions toward the parent brands. Consumers also held higher ambivalent attitudes when they preferred one of the parent brands; while disliked the other brand. The study also found significant relationships between the lead brand and the rebranded brand attitude; and between the partner brands and ATR. The familiar but controversial partner brand contributed significantly to the ambivalent attitudes experienced; while the more established lead brand had significant impact on the rebranded brand attitude. The lead and partner brands, though both familiar, represented different meanings to consumers. The author attributed these results to the prior parent brand attitudes, the skepticism and their general ambivalence toward the corporate rebranding. Both general attitude factors (i.e. skepticism and general ambivalence towards rebranding) were found to have significant positive impacts on ATR. Skeptical individuals questioned the possibility of a successful rebranding (Chang, 2011) and were more careful with their evaluations toward 'too god to be true' or 'made in heaven' pair of companies. The embedded general ambivalent attitudes that people held toward rebranding could be triggered from the associative network by the ambiguous situation (Prislin & Quellete, 1996). In addition, the ambivalent rebranded brand attitude was found to lower down purchase intention, supporting Hanze (2001), Lavine (2001) and van Harreveld et al. (2009)'s studies. Ambivalent individuals were found to prefer delay decision making by choosing around the mid-ranged points in 'willingness to buy' scale. The study provides several marketing implications. Ambivalence management is proven to be important to corporate rebranding to minimize the ambivalent attitudes experienced. This could be done by carefully controlling the parent brands-related and general attitude factors. The high ambivalent individuals are less confident with their own conflicted attitudes and are motivated to get rid of the psychological discomfort caused by these conflicted attitudes (Bell & Esses, 2002; Lau-Gesk, 2005; van Harreveld et al., 2009). They tend to process information more deeply (Jonas et al., 1997; Maio et al., 2000; Wood et al., 1985) and pay more attention to message that provides convincible arguments. Providing strong, favorable and convincible message is hence effective in alleviating consumers' ambivalent attitudes. In addition, brand name heuristic could be utilized because the rebranding strategy sends important signal to consumers about the changes that happen or going to happen. The ambivalent individuals will pay attention to both brand name heuristic and rebranding message in their effort to alleviate the psychological discomfort caused by ambivalent attitudes. The findings also provide insights to Malaysian and airline operators for a better planning and implementation of corporate rebranding exercise.