• Title/Summary/Keyword: Domestic Independent Guarantee

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A Study on the Legal Issues on Chinese Security Law (중국의 독립보증에 관한 법률문제연구)

  • SONG, Soo-Ryun
    • THE INTERNATIONAL COMMERCE & LAW REVIEW
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    • v.71
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    • pp.85-105
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    • 2016
  • Independent guarantee is new financial product developed in international commercial transaction. The nature of independent guarantee is an independent undertaking, which takes the form of documentary transaction. As long as the documents presented by the beneficiary are on their face complying with the terms and conditions of the guarantee, the guarantor is obliged to pay upon the complying presentation. Where parties choose to apply for issue of independent guarantee in international commercial transactions in China, Chinese court shall respect the autonomy of parties. If either the guarantor or the beneficiary is located outside of China, or the facts which cause the establishment, change or cancellation of independent guarantee relationship occurred outside of China, it shall be deemed as foreign related independent guarantee. If the interested parties requests for confirmation of the independence of foreign related independent guarantee, it shall be supported by Chinese court. However, parties dealing with Chinese domestic commercial transaction have not fully realized the severity of independent guarantee liability. The market credit is being cultivated and the financial innovation is being explored at present in China. In order to guard against the systematic and the regional financial risk, before relevant rules are promulgated, Chinese court shall not recognize the independence guarantees issued for the domestic commercial transaction, but treat it as joint liability surety.

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A Comparative Study on the Increase of Practical Use of Standby Letters of Credit in Korea and U.S.A. (스탠드바이 신용장의 활성화를 위한 한.미간 비교 연구)

  • Park, Suk-Jae
    • THE INTERNATIONAL COMMERCE & LAW REVIEW
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    • v.39
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    • pp.87-103
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    • 2008
  • Two kinds of security devices such as independent guarantees and standby letters of credit have been widely used in the international transactions. These devices design to protect one of the parties from a breach by its counter-party. Main uses of these guarantees and standby letters of credit are as follows : bid guarantee, performance guarantee, advance payment guarantee, payment guarantee, retention guarantee, etc. The standby letters of credit were first invented in the U.S.A. and have been widely used in the international and domestic contracts in the U.S.A. But the practical use of these credits is very unsatisfactory in Korea. The purpose of this study is to serve the increase of practical use of the standby letters of credit in Korea through the comparison study on the practical use of the credits between Korea and the U.S.A. Both devices are very similar in function, but they are very different in forms. The one has the form of letter of credits but the other has the form of guarantee. The letter of credit has the stability of governing rule, the legal certainty, and the preference in the field of the trade community comparing to the guarantee. I recommend to use standby letter of credit instead of bank guarantee in international transactions because of the merits of the credit aforesaid.

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A Comparative Analysis regarding Difference of ISP98 and URDG758 (보증신용장통일규칙과 청구보증통일규칙 비교분석)

  • Park, Sae-Woon;Han, Ki-Moon
    • THE INTERNATIONAL COMMERCE & LAW REVIEW
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    • v.51
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    • pp.263-283
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    • 2011
  • There are two typical international rules in issuing guarantee for obligations of party which is responsible to provide some duties such as services, construction, plants, loan repayment, etc. The two internationally recognized rules are currently ISP98 and URDG758. ISP98 was firstly introduced in 1998 for American banks to issue standby letter of credit domestic and overseas for the area where UCP does not cover. URDG was introduced first in 1991 in the name of URDG458 but it has not been widely used and therefore new URDG named URDG758 came out in 2010 to accommodate more standard guarantee practice. At the face of these two prevailing international rules, the users are sometimes confused which rule would be more suitable for their individual transaction. This led us to conduct a comparative analysis on these two rules. Our study suggests that URDG758 is more adequate for construction, ship-building and plants-supply obligations whilst ISP98 is for financial obligations. Also attentions are required when issues such as counter guarantee, governing rule, presentation period, document examination period and default statement exist. This is because ISP98 and URDG758 have different view points.

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The study for the production of Korean medical crops and the export-import movement and the improving methods of them (한국의 약용작물 생산 및 수·출입 동향과 개선방안에 관한 연구)

  • Kim, Minhui
    • The Korea Journal of Herbology
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    • v.32 no.2
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    • pp.1-16
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    • 2017
  • Objective : The study was for researching the activation methods about Korean overall medical crops business from 2010 to 2016. In addition, it was to be given to examining complement points and improving methods to the changeable domestic market of medical crops caused by a considerable export-import amount of them. Methods : By examining and analyzing data for the trend of medical crops production and their export-import trend from 2010 to 2015, I found it valuable to use it as the basic resources for researching the urgent problem of medical crops' business and its improvement. Results : 1. As surveying the trend of the domestic medical crops over the recent six years, I found that the export amount of them has drastically decreased, while the import amount has increased. And so, the prices of the domestic medical crops and their production are unstable. 2. By developing standardized medical crops which a trading counterpart country could prefer, we have to promote the export competitiveness. 3. We should reinforce an origin mark and geographical mark practice for domestic herbal materials and expand GMP. 4. We should prepare a standardization of herbal medicines by setting up an independent governmental department. Conclusion : 1. The government should present an appropriate supply-demand amount of the medical crops depending on the domestic needs and the export-import transactions. 2. There should be an institutional supportive system which is able to guarantee stable incomes of farmers through contract cultivation. 3. We should develop high value standardized medical crops.

Business Growth Strategy with Asset Backed Short Term Bond for Overseas IPP Opportunities (자산담보부 단기사채를 활용한 해외발전사업 수주확대방안)

  • Kim, Joon-Ho;Moon, Yoon-Jae;Lee, Jae-Heon
    • Plant Journal
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    • v.11 no.1
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    • pp.30-38
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    • 2015
  • This study is about whether the new Project Finance scheme called "Asset Backed Short Term Bond(ABSTB)" with Project Finance Guarantee Cover provided by Korean Exim Bank(KEXIM) is an appropriate and valid financing structure, through close examinations on domestic and overseas IPP case studies. This study clearly indicates that (i) the interest rate of ABSTB with KEXIM's Project Finance Guarantee is relatively more competitive than the interest rate of other ABSTB guaranteed by EPC Companies (ii) the lower credit rated EPC companies make higher ROE(Return on Equity) through this financing structure. Lastly, Korean EPC Companies can secure profitability through this innovative financing scheme which will also lead to winning more power plant Contracts and become globally competitive.

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Implementation of Propagation delay estimation model of medium frequency for positioning (측위 적용을 위한 중파의 전파 지연 예측 모델 구현)

  • Yu, Dong-Hui
    • Journal of the Korea Society of Computer and Information
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    • v.14 no.2
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    • pp.111-118
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    • 2009
  • Against Anomaly of GPS, there are several projects of independent satellite navigation systems like Galileo of Europe and QZSS of Japan and modernization of terrestrial navigation system like Loran. In domestic, the need of independent navigation system was proposed and DGPS signal was nominated as the possible substitute. The DGPS signal uses medium frequency, which travels through the surface and cause the additional delay rather than the speed of light according to Conductivities and elevations of the irregular terrain. The similar approach is Locan-C. Loran-C has been widely used as the maritime location system. Loran-C uses the ASF estimation method and provides more precise positioning. However there was rarely research on this area in Korea Therefore, we introduce the legacy guaranteed model of additional delay(ASF) and present the results of implementation. With the comparison of the original Monteath results and BALOR results respectively, we guarantee that the implementation is absolutely perfect. For further works, we're going to apply the ASF estimation model to Korean DGPS system with the Korean terrain data.

A Study on the Support System for Reinforcement of Competitiveness of Small Business persons - Mainly Focused on Support System for Small Business Persons - (소상공인 경쟁력 강화의 지원제도에 관한 연구 - 소상공인 지원제도를 중심으로 -)

  • Woo, Dae-IL;Lee, Sang-Youn
    • The Korean Journal of Franchise Management
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    • v.2 no.2
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    • pp.95-110
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    • 2011
  • As global economic conditions are getting uneasy and polarization of our economy is intensified, the economic sentiment of small businesses is still low and unstable. The collapse of worldwide banking systems due to sub prime crisis in 2007 became the catalyst that shakes financial industries in each country in the world; the most sentiment people, small businesspersons, also have hard time facing survival way out, facing a great crisis. All organizing powers including manufactures, wholesales and retails are being gradually greater in mutual relations and dependence, and unstable factors about risks are also increasing. For exterior environmental and physical risk factors which cannot make small businesses survive themselves by developing ways out are eventually increasing, those who cannot cope with these factors face a great crisis. Although the government tries hard to overcome this situation conducting many ways, the effect does not continue. It is the real state that independent business markets including overall employment and establishing business have vicious cycle that they cannot be improved, due to increase of employment centered on short-term labors which lack durability in creation of employment and decline of household income. Recently, growth shows indication of slowdown because of multinational risk factors including financial crisis in each country in Europe, the death of Kim Jung-il, relationship with North Korea, and unstability of war situation in the Middle East Asia. Experts expect that growth rate will be about 4%, and independent business that ordinary people feel is still gloomy. It's reality that there is no adequate alternative for lack of jobs, unstable employment and a means of living after retirement. Also, the fact that large companies enter the market which is narrow and in the excessive competition should be an environmental factor that makes the situation worse. The business concept, a franchise, is the part we should think about whether it is the institutional solution that can guarantee independent businessmen stable life. Major companies are frightfully entering the market today, breaking the barrier to entry and shouting of a win-win with independent businesses. It's the small businesspersons who go through painful domestic recession, cannot predict the future and manage confusing and unstable independent business. It's very important to restore the domestic economy through wisely boosting consumption as soon as possible. It's also important to lead the situation by gathering powers of the government and related organizations, agonizing, suggesting solutions, and establishing accurate directions. The purpose of this study, therefore, is to suggest ways to strengthen competitiveness of small businesspersons by examining small business support policies which are currently implemented.

A Study on the legal definition and the demands of the times of a medical technician according to changes in the medical market (의료시장 변화에 의한 의료기사의 법률적 정의와 시대적 요구에 관한 연구)

  • Kim, Jeong-Ho;Han, Man-Seok;Kim, Chang-Gyu;Seo, Sun-Youl;Kim, Gap-Jung;Bae, Seok-Hwan;Kim, Yong-Kyun
    • Journal of Digital Convergence
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    • v.19 no.11
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    • pp.397-406
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    • 2021
  • Under the Act on Medical Technicians, etc. in Korea, medical technicians are supposed to perform their duties under the guidance of a doctor or dentist. However, considering the actual work behavior, domestic and international trends, and the level of education of medical technicians, professionalism must be recognized. Such a professional and independent operating system must guarantee the autonomy of medical technicians, and it can be said that changes are necessary in law. In other words, it is necessary to change to "request and prescription" rather than "supervision" according to the needs of the times when the concept of "request" and "cooperation" is applied in many countries and an excellent curriculum. These changes can be called the demands of the times and changes for the improvement of medical services and social contribution.

BEEF MEAT TRACEABILITY. CAN NIRS COULD HELP\ulcorner

  • Cozzolino, D.
    • Proceedings of the Korean Society of Near Infrared Spectroscopy Conference
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    • 2001.06a
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    • pp.1246-1246
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    • 2001
  • The quality of meat is highly variable in many properties. This variability originates from both animal production and meat processing. At the pre-slaughter stage, animal factors such as breed, sex, age contribute to this variability. Environmental factors include feeding, rearing, transport and conditions just before slaughter (Hildrum et al., 1995). Meat can be presented in a variety of forms, each offering different opportunities for adulteration and contamination. This has imposed great pressure on the food manufacturing industry to guarantee the safety of meat. Tissue and muscle speciation of flesh foods, as well as speciation of animal derived by-products fed to all classes of domestic animals, are now perhaps the most important uncertainty which the food industry must resolve to allay consumer concern. Recently, there is a demand for rapid and low cost methods of direct quality measurements in both food and food ingredients (including high performance liquid chromatography (HPLC), thin layer chromatography (TLC), enzymatic and inmunological tests (e.g. ELISA test) and physical tests) to establish their authenticity and hence guarantee the quality of products manufactured for consumers (Holland et al., 1998). The use of Near Infrared Reflectance Spectroscopy (NIRS) for the rapid, precise and non-destructive analysis of a wide range of organic materials has been comprehensively documented (Osborne et at., 1993). Most of the established methods have involved the development of NIRS calibrations for the quantitative prediction of composition in meat (Ben-Gera and Norris, 1968; Lanza, 1983; Clark and Short, 1994). This was a rational strategy to pursue during the initial stages of its application, given the type of equipment available, the state of development of the emerging discipline of chemometrics and the overwhelming commercial interest in solving such problems (Downey, 1994). One of the advantages of NIRS technology is not only to assess chemical structures through the analysis of the molecular bonds in the near infrared spectrum, but also to build an optical model characteristic of the sample which behaves like the “finger print” of the sample. This opens the possibility of using spectra to determine complex attributes of organic structures, which are related to molecular chromophores, organoleptic scores and sensory characteristics (Hildrum et al., 1994, 1995; Park et al., 1998). In addition, the application of statistical packages like principal component or discriminant analysis provides the possibility to understand the optical properties of the sample and make a classification without the chemical information. The objectives of this present work were: (1) to examine two methods of sample presentation to the instrument (intact and minced) and (2) to explore the use of principal component analysis (PCA) and Soft Independent Modelling of class Analogy (SIMCA) to classify muscles by quality attributes. Seventy-eight (n: 78) beef muscles (m. longissimus dorsi) from Hereford breed of cattle were used. The samples were scanned in a NIRS monochromator instrument (NIR Systems 6500, Silver Spring, MD, USA) in reflectance mode (log 1/R). Both intact and minced presentation to the instrument were explored. Qualitative analysis of optical information through PCA and SIMCA analysis showed differences in muscles resulting from two different feeding systems.

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Implementation of Virtualization Techniques and its Performance Evaluation for the Independent Operation of OpenFlow-based Future Internet Testbed (오픈플로우 기반 미래인터넷 테스트베드의 독립적 운용을 위한 가상화 기능 구현 및 성능 평가)

  • Min, Seok Hong;Kim, Seung Ju;Kim, Byung Chul;Lee, Jae Yong;Hong, Won Taek;Kong, Jong Uk
    • Journal of the Institute of Electronics and Information Engineers
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    • v.50 no.1
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    • pp.34-45
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    • 2013
  • Recently, world-wide research activities on new network architectures and protocols are being actively progressed. Furthermore, research activities on testbed and related technologies for supporting those activities are being actively performed. In domestic study, research on the OpenFlow protocol based future Internet testbed implementation and research on its virtualization for supporting independent research experiments are being performed at the same time. The network virtualization is a technology which maximizes the testbed utilization without interfering each other for the individual research when many researchers share the testbed. In this paper, we implemented a Enhanced FlowVisor by extending basic FlowVisor by adding QoS functions which are admission control and minimum bandwidth guarantee. On the testbed, we performed a real-time video streaming experiment for verifying the performance of the Enhnaced FlowVisor on the OpenFlow protocol based future internet testbed. The result shows that the Enhanced FlowVisor can provide reliable and stable QoS to the individual researches without disturbing each other traffic on virtualized networks of the future Internet testbed.