• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.37
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• pp.3-33
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• 2008

This study primarily concerns the seller's duty to deliver the goods in conformity with the contract under the United Nations Convention on International Sale of Goods(1980) in comparison with the Draft Principles of European Sales Law. It describes and analyzes the provisions of the CISG as to the seller's duty, focusing on main controversial issues among scholars in their application. It also attempts to compare the rules of the CISG with those of the Draft PESL and to evaluate them in light of the discipline of comparative law. This is for the purpose of facilitating the systematic development and reform of one jurisdiction by any solution from the other jurisdiction found by the comparative study. In addition, this study provides legal and practical advice to the contracting parties when they intends to insert the CISG or the Draft PESL in their contract as a governing law. The comparative study particularly focuses on the following aspects; first, requirements for conformity with the contract which deals with the concept of conformity with the contract, contractual requirements agreed between contractual parties, and implied requirements otherwise not agreed between contractual parties, second, the time when the goods must be in conformity with the contract, third, exclusions of the seller's duty to deliver the goods in conformity with the contract.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.69
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• pp.127-151
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• 2016

UNIDROIT Principles of International Commercial Contracts(PICC) was published in 1994. PICC has been functioned as a guideline of international commercial contracts, an applicable law to govern a contract by the agreement of the parties to a contract, general principles of law and lex mercatoria. In addition, PICC has a role of interpreting or supplementing international uniform law instruments as well as domestic laws, and also has served as a model for national and international legislations. PICC has been accepted as a authoritative source of knowledge of international trade usages of international commercial contracts to the arbitral tribunal rather than domestic court because it excluded the characteristics of hard law at the drafting stage. This article dealt with the rule on gross disparity of validity which fall outside the scope of UN Convention on Contract for the International Sale of Goods(CISG), which has obtained a leading legal position of uniform law in international sales of good. In other words, PICC suggests a series of meaningful solutions to the issue of gross disparity of contract which is the most complicated among legal disputes occurring during the process of conclusion of contact and also extremely different and diverse between legal systems. This article covered the issue of gross disparity of contract at the conclusion of contact and suggested the legal basis of several rules related to the gross disparity by analysing gross disparity rule of PICC. Furthermore, this article suggested legal check points or implication as well as interpretation and evaluation on doctrine of laesio enormis and undue influence or unconscionability. This article also dealt with a comparative analysis with Principles of European Contract Law(PECL) and Common European Sales Law(CESL) which have important legal positions in the area of international commercial contract as well as in terms of close relationship to PICC by linking with recent court or arbitral tribunal rulings.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.67
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• pp.23-47
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• 2015

European Commission drafted and proposed the Common European Sales Law(CESL) to the European Parliament for the realization of a uniform set of international private law rules within the EU internal market. Since its purpose is for free international commercial activities for the sale of goods, for the supply of digital content and for related services, it was proposed to enable EU Member States to adopt or supplement as their substantive law according to their options. This study is relate to the legal bases on termination of a contract under CESL, they are composed of three parts: damages and interest, restitution and prescription. Damages and interest are divided into damages, general provisions on interest on late payments, and late payment by traders. Damages are explained by dividing into right to damages, general measure of damages, foreseeability of loss, loss attributable to creditor, reduction of loss, substitute transaction, and current price. Restitution is described by dividing into restitution on revocation, payment for monetary value, payment for use and interest on money received, compensation for expenditure and equitable modification. Prescription is explained by dividing into general provisions, periods of prescription and their commencement and extension of periods of prescription. General provisions explain right subject to prescription into a right to enforce performance of an obligation and any right ancillary to such a right. Regarding period of prescription, the short one is two years and the long one is ten years. However, in the case of a right to damages for personal injuries, period of prescription for such right is thirty years. Regarding commencement, the short one begins to run from the time when the creditor has become, or could be expected to have become, aware of the facts as a result of which the right can be exercised, while the long one begins to run from the time when the debtor has to perform. However, in the case of a right to damages, the CESL clarifies that it begins to run from the time of the act which gives rise the right.

• Journal of Distribution Science
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• v.21 no.9
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• pp.115-121
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• 2023

Purpose: This study aimed to deal with disputes between the seller and the buyer in connection with the Letter of Credit (LC) in a sales contract. The Contracts for the International Sale of Goods (CISG) provides the rules on the fundamental breaches which can lead to termination of the sales contract but the CISG is not enough to govern issues arising from the LC disputes when the sales contract is not clear about the payment terms. This paper tried to find some solutions to the disputes by considering international rules, such as the Principles of European Contract Law (PECL). Research design, data and methodology: The methodology applied in this study was an analysis of some court decisions and extended literature review. Results: The study revealed that in contracts for the sale of international goods, the buyer was obliged to open an LC as manner of payment. If the buyer failed to open an LC or amend the terms of the LC, the seller could avoid the contract because this could deprive the seller's expected interest. Conclusions: Few studies in Korea have been comprehensively analyzed in terms of the obligations of regarding the LC with respect to the CISG in court cases. This study suggests safeguarding the buyer and seller when the LC is considered absolute or conditional.

• International Journal of Computer Science & Network Security
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• v.21 no.12spc
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• pp.459-462
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• 2021

The article examines the main problems of land market formation in Ukraine. The article is devoted to the study of problems and prospects of land market introduction after the abolition of the ban on alienation. The advantages and disadvantages of lifting the moratorium on the purchase and sale of agricultural land are highlighted. The experience of such European countries as France, Germany, Latvia, Romania and Poland in regulating the market of agricultural lands is analyzed. The historical stages of market formation, features of state policy in this area are considered. The authors found that in these countries the market for agricultural land is well developed and works effectively, which has positive consequences for the economy of these countries. After analyzing the experience, we identified common elements of an effective mechanism for regulating the land market in European countries, which can be implemented in Ukraine. It is emphasized that after the opening of the land market it is necessary to prevent the concentration of a large number of agricultural lands in the hands of one person or close persons and it is necessary to create an effective supervisory body, whose main functions will be supervising sales prevention of speculation in the land market. Emphasis is placed on the need to improve legislation in the field of land, organizational and informational conditions for land reform. The Law of Ukraine "On Amendments to Certain Legislative Acts of Ukraine Concerning the Circulation of Agricultural Land" was analyzed, the adoption of which put an end to the systematic extension of the moratorium on the sale of agricultural land. The positive aspects of such reservations are noted, such as the gradual introduction of the land market, quantitative restrictions, the lower limit of the value equivalent, which can not be less than the normative monetary value. At the same time, the problem is that the lack of an imperative norm on termination of the lease agreement in case of refusal of the lessee to purchase such land at a price not lower than expert assessment, will negatively affect its price formation and actually make the landlord hostage.

• Korea Trade Review
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• v.42 no.6
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• pp.1-25
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• 2017

This is a comparative and analytical study which comprises of the analysis of the rules of the seller's liability for non-conforming goods of four legal systems under the CISG and the CESL. A purpose of this study is to examine all the rules as to, first, the concept and the nature of the seller's duty to deliver the goods in conformity with the contract, second, the contents of the seller's duty to deliver the goods in conformity with the contract, third, the time when the goods must be in conformity with the contract and the cases where the seller is exempted from his liability for non-conforming goods. Another purpose is to compare the rules of the CISG with those of the CESL, and to evaluate them in light of the discipline of comparative law. This is for the purpose of facilitating the systematic development and reform of one jurisdiction by any solution from the other jurisdiction found by the comparative study. In addition, this study provides legal and practical advice to the contracting parties when they intend to use one of those regimes in their contract as a governing law.

• Journal of Korean Library and Information Science Society
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• v.46 no.4
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• pp.355-377
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• 2015

This study aims to analyze in depth the operation of the Public Lending Right(PLR) system that is implemented in 34 countries in the world in order to propose the ideal operation of PLR system. The PLR system is that authors receive payment because they lose the sales opportunities due to the loan of their books by libraries. Among 34 countries implementing the PLR system, 31 are European countries and 20 countries enforce the copyright law for the operation of the PLR system. Fund for the PLR is financed by the budget of the central government in 25 countries and payments are made on the basis of loans data in 20 countries. Writers, illustrators, translators are eligible to receive payments in many countries. 17 countries provide payments to the authors who have contributed to books lent out by libraries.

• KDI Journal of Economic Policy
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• v.35 no.1
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• pp.63-101
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• 2013

'Venture firms' in Korea are the firms who are certified as 'venture', whose certification types are defined by a law ('Special Law for the Support of Venture Firms'), and therefore encompass not only the venture capital-financed companies, which are usually regarded as ventures in USA and European countries, but also other types of firms such as R&D-intensive firms and the firms with financial guarantee or loans through technology evaluation ('technology finance or loan firms'). This paper examines the differences in the Korean venture firms' growth between the venture certification types. For the empirical analysis, this paper uses the lists of venture-certified firms from 1998 to 2010 which are then linked with their financial data in Korea Enterprises Database (KED). According to the results of empirical analyses, the companies in the 'venture capital-financed firms' type show greater growth rate in sales and the number of regular employees 3 and 5 years after first venture certification than the firms in type of 'technology finance/loan firms'. Moreover, the newly certified companies in 'R&D-intensive firms' type are also showing faster growth than the 'technology finance/loan firms' since 2003 where the venture industry has undergone a consolidation phase after the blast of so-called 'IT venture bubble' in 2001~2002. These results imply that the so-called 'venture firms' in Korea are composed with heterogeneous firm groups with different characteristics and that the companies selected through market mechanism ('venture capital-financed firms') outperforms the companies selected on the basis of policy interests ('technology finance/loan firms') in terms of the growth in sales and employment. On the basis of these findings, this paper suggests that the current venture-support policy should consider the different policy demands of firms across the type of venture certification more actively and that should refocus the objective of policies on facilitating venture capital market rather than emphasizing the nominal increase in the number of venture-certified firms.

• Journal of Environmental Health Sciences
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• v.43 no.1
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• pp.1-22
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• 2017

'The worstest environment disaster', 'World's first biocide massacre', 'Home-based Sewol ferry disaster' are all phrases attached to the recent humidifier disinfectant disaster. In the spring of 2011, four of 8 pregnant women including 1 adult man passed away at a university hospital in Seoul due to breathing failure. Epidemiologic investigation conducted by the Korean CDC soon revealed the inhalation of humidifier disinfectant, which had been widely used in Korea during the winter, to be responsible for the disease. As well as lung fibrosis hardening of the lungs, other diseases including asthma, rhinitis, skin disease, liver disease, fetal disease or cancers have been researched for their relation with exposure to the products. By February 9, 2017, 5,342 cases had registered for health problems and 1,131 of them were already dead (20.8% mortality rate). Based on studies by government agencies and a telephone survey of the general population by Seoul National University and civic groups, around 20% of the general public of Korea has used these products. Since the market release of the first product by SK Chemical in 1994, over 7.1 million items from around 20 brands were sold up to 2011. Most of the products were manufactured by well-known large conglomerates such as SK, Lotte, Samsung, Shinsegye, LG, and GS, as well as some European companies including UK-based Reckitt Benckiser and TESCO, the German firm Henkel, the Danish firm KeTox, and an Irish company. Even though this disaster was unveiled in 2011 by the Korean government, the issue of the victims was neglected for over five years. In 2016, an unexpected but intensive investigation by prosecutors found that Reckitt Benckiser manipulated and concealed animal tests for its own brand and brought several university experts and company employees to court. The matter was an intense social issue in Korea from May to June with a surge in media coverage. The prosecutor's investigation and a nationwide boycott campaign organized by victims and environmental groups against Reckitt Benckiser, whose product had been used by more than 70% of victims, led to the producer's official apology and a compensation scheme. A legislative investigation organized after the April 2016 national election revealed the producers' faults and the government's responsibility, but failed to meet expectations. A special law for the victims passed the National Assembly in January 2017 and a punitive system together with a massive environmental epidemiology investigation are expected to be the only solutions for this tragedy. Sciences of medicine, toxicology and environmental health have provided decisive evidence so far, but for the remaining problems the perspectives of social sciences such as sociology and jurisprudence are highly necessary, similar to with the Minamata disease and Wonjin Rayon events. It may not be easy to follow this issue using unfamiliar terminology from medical and chemical science and the long, complicated history of the event. For these reasons the author has attempted to write this article in a question and answer format to render it easier to follow. The 17 questions are: Q1 What is humidifier disinfectant? Q2 What kind of health problems are caused by humidifier disinfectant? Q3 How many victims are there? Q4 What is the analysis of the 1,112 cases of death? Q5 What is the problem with the government's diagnostic criteria and the solution? Q6 Who made what brands? Q7 Has there been a recall? What is still on sale? Q8 Was safety not checked by any producers? Q9 What are the government's responsibilities? Q10 Is it true that these products were sold only in Korea? Q11 Why and how was it unveiled only in 2011 after 17 years of sales? Q12 What delayed the resolution of the victim issue? Q13 What is the background of the prosecutor's investigation in early 2016? Q14 Is it possible to report new victim cases without evidence of product purchase? Q15 What is happening with the victim issue? Q16 How does it compare with the cases of Minamata disease and Wonjin Rayon? Q17 Are there prevention measures and lessons?