• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.12
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• pp.405-427
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• 1999

Although Uniform Customs and practice for Documentary(UCP) is not a law, it applies to most documentary credits and is binding on all parties unless otherwise expressly stipulated. Besides, Uniform Commercial Code(UCC) Article 5 was codified by the United States and was adopted by every state. Moreover, the New York version of the UCC Article 5-102(4) specifically providing that the UCC does not apply to letters of credit where the parties agree to be governed by the UCP. Identical nonuniform Articles were latter added in Alabama, Arizona, and Missouri. The fact that courts in forty-six of the fifty states are bound by Article 5. Until now, Article 5 of the UCC has probably had an impact on the decisions in New York and the New York common law. Therefore, I examined a few issues on application between Article 5 of the UCC and the UCP. First, although the UCP attempt to introduce a new for examination of document by incorporating "standard practice of financial institutions" and "international banking practice", the standards for documentary compliance are not clear. The UCC attempt to rely on the matter of interpretation for the court, but the UCP would probably be interested in examining in about bank's internal practices as reflected in UCP Articles. Second, the rule for nondocumentary conditions is a useful for stand-by credit transactions under the UCC, but these conditions would probably put the bank in an even worse position in case of documentary credit transactions under the UCP. Third, the UCP does not contain any provision governing the fraud exception, but the UCC codified the fraud and forgery rules developed through American case law. Fourth, the UCP treats the issue of transfer in much more detail than the UCC does. In contract, the UCP's treatment of assignment of proceeds is brief. Finally, I suggest that the fraud exception rules should be prescribed in the UCP in order to protect the issuing bank and the applicant when an unscrupulous party attempts to defraud.

• 한국데이터정보과학회:학술대회논문집
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• 2005.04a
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• pp.164-173
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• 2005

Data mining is the method to find useful information for large amounts of data in database. It is used to find hidden knowledge by massive data, unexpectedly pattern, relation to new rule. The methods of data mining are decision tree, association rules, clustering, neural network and so on. The decision tree approach is most useful in classification problems and to divide the search space into rectangular regions. Decision tree algorithms are used extensively for data mining in many domains such as retail target marketing, fraud detection, data reduction and variable screening, category merging, etc. We analyze waste database united with local information using decision tree techniques for environmental information. We can use these decision tree outputs for environmental preservation and improvement.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.69
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• pp.261-301
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• 2016

Recently the abusive calls on on-demand bonds have been a critical issue among many engineering and construction companies in Korea. On-demand bond is referred to as an independent guarantee in the sense that the guarantee is independent from its underlying contract although it was issued based on such underlying contract. For this reason, the issuing bank is not required to and/or entitled to look into whether there really is a breach of underlying contract in relation to the call on demand-bonds. Due to this kind of principle of independence, the applicant has to run the risk of the on demand bond being called by the beneficiary without due grounds. Only where the call proves to be fraudulent or abusive in a very clear way, the issuing bank would not be obligated to pay the bond proceeds for the call on on-demand bonds. In order to prevent the issuing bank from paying the proceeds under the on-demand bond, the applicant usually files with its competent court an application for injunction prohibiting the beneficiary from calling against the issuing bank. However, it is in practice difficult for the applicant to prove the beneficiary's call on the bond to be fraudulent since the courts in almost all the jurisdictions of advanced countries require very strict and objective evidences such as the documents which were signed by the owner (beneficiary) or any other third party like the engineer. There is another way of preventing the beneficiary from calling on the bond, which is often utilized especially in the United Kingdom or Western European countries such as Germany. Based upon the underlying contract, the contractor which is at the same time the applicant of on-demand bond requests the court to order the owner (the beneficiary) not to call on the bond. In this case, there apparently seems to be no reason why the court should apply the strict fraud rule to determine whether to grant an injunction in that the underlying legal relationship was created based on a construction contract rather than a bond. However, in most jurisdictions except for United Kingdom and Singapore, the court also applies the strict fraud rule on the ground that the parties promised to make the on-demand bond issued under the construction contract. This kind of injunction is highly unlikely to be utilized on the international level because it is very difficult in normal situations to establish the international jurisdiction towards the beneficiary which will be usually located outside the jurisdiction of the relevant court. This kind of injunction ordering the owner not to call on the bond can be rendered by the arbitrator as well even though the arbitrator has no coercive power for the owner to follow it. Normally there would be no arbitral tribunal existing at the time of the bond being called. In this case, the emergency arbitrator which most of the international arbitration rules such as ICC, LCIA and SIAC, etc. adopt can be utilized. Finally, the contractor can block the issuing bank from paying the bond proceeds by way of a provisional attachment in case where it also has rights to claim some unpaid interim payments or damages. This is the preservative measure under civil law system, which the lawyers from common law system are not familiar with. As explained in this article, it is very difficult to block the issuing bank from paying in response to the bond call by the beneficiary even if the call has no valid ground under the underlying construction contract. Therefore, it is necessary for the applicants who are normally engineering and construction companies to be prudent to make on-demand bonds issued. They need to take into account the creditability of the project owner as well as trustworthiness of the judiciary system of the country where the owner is domiciled.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.42
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• pp.133-160
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• 2009

In International trade the buyer and seller are normally separated from on another not only by distance but also by differences in language and culture. It is rarely possible for the performance of obligations to be simultaneous and the performance of contracts therefore calls for trust in a situation in which the parties are unlikely to feel able to trust each other unless they have a longstanding and successful relationship. Thus the seller under an international contract of sale will not wish to surrender documents of title to goods to the buyer until he has at least an assurance of payment, and no buyer will wish to pay for goods until he has received them. A gap of distrust thus exists which is often bridged by the undertaking of an intermediary known and trusted by both parties who will undertake on his own liability to pay the seller the contract price in return for the documents of title and then pass the documents to the buyer in return for the reimbursement. This is a common explanation of the theory behind the documentary letter of credit in which the undertaking of a bank of international repute serves as a "guarantee" to each party that the other will perform his obligations. The independence principle, also referred to as the "autonomy principle", is at the core of letter of credit or bank guarantee law. This principle provides that the letter of credit or bank guarantee is independent of the underlying contractual commitment - that is, the transaction that the credit is intented to secure - between the applicant and the beneficiary ; the credit is also independent of the relationship between the bank and its customer, the applicant. The most important exception to the independence principle is the doctrine of fraud in the transaction. A strict interpretation of the rule that the guarantee is independent of the underlying transaction would lead to the conclusion that neither fraud nor manifest abuse of rights by the beneficiary would constitute an objection to payment. There is one major problem related to "Independent guarantees", namely abusive or unfair callings. The beneficiary may make an unfair calling under the guarantee. The countermeasure of beneficiary's unfair calling divided three cases. First, advance countermeasure namely by contract. In other words, when the formation of the contract, the parties must insert the Force Majeure Clause, Arbitration Clause to Contract, and clear statement to the condition for demand calling. Second, post countermeasure namely by court. Many countries, including the United States, authorize the courts to grant an order enjoining the issuer from paying or enjoining the beneficiary from receiving payment under the guaranty letter. Third, Export Insurance. For example, the Export Credit Guarantees Department is prepared, subject to certain conditions, to cover the risk of unfair calling. Of course, KEIC in Korea is cover the risk of the all things for guarantees. On international projects, contractor performance is usually guaranteed by either a standby letters of credit or Independent guarantee. These instruments will be care the parties.

• Journal of the Korean Data and Information Science Society
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• v.22 no.5
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• pp.877-884
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• 2011

The decision tree is a representative algorithm of data mining and used in many domains such as retail target marketing, fraud detection, data reduction, variable screening, category merging, etc. This method is most useful in classification problems, and to make predictions for a target group after dividing it into several small groups. When we create a model of decision tree with a large number of input variables, we suffer difficulties in exploration and analysis of the model because of complex trees. And we can often find some association exist between input variables by external variables despite of no intrinsic association. In this paper, we study on the removal method of unnecessary input variables using multiple external association rules. And then we apply the removal method to actual data for its efficiencies.

• International Commerce and Information Review
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• v.11 no.3
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• pp.287-309
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• 2009

There were many changes regarding Negotiation of document under UCP 600. First of all, the definition of Negotiation was changed. The UCP 500 stated "Negotiation means the giving of value for drafts and documents by the bank authorized to negotiation", but the UCP 600 defines "negotiation" as following "negotiation means the purchase by the nominated bank of drafts and/or documents under a complying presentation". Under the UCP 600 the meaning of negotiation was more clear than UCP 500. Second UCP 600 permits all deferred payment credits be discountable or negotiable. This amended rule equated the deferred payment credit with banker's acceptance credit which was contrary with the nature and the practice of former deferred payment credit transaction. Third, UCP 600 has also provided for reimbursement rights for nominated banks and a conceptual basis for protecting nominated banks against beneficiary fraud. In this paper, the problems regarding negotiation of document under UCP600 was studied and the solutions for the problems occurring in appling UCP 600 in practical field was provided.

• The Korean Society of Law and Medicine
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• v.14 no.2
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• pp.49-80
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• 2013

The Issuance of false medical certificates on Criminal Law or the Medical Service Act are frequently applied to the insurance fraud cases related with the medical certificate, prescriptions. The meaning of medical certificate is not defined on the crime of Issuance of false medical certificates, but considering the rule of Paragraph 1 of Article 17 of the Medical Service Act, which punishes drawing up the medical certificate by anyone except the doctor who has directly examined, and the principle of legality, the medical certificate applied with the crime of Issuance of false medical certificates should (1) include the judgment after current medical ex-amination, (2) be written for the purpose of verifying the health status and (3) have a style that can be recognizable as medical document usually written by doctors. In addition, since there have been many argues on the range of application of the Paragraph 1 of Article 17 of the Medical Service Act, which generally regulates various kinds of documents such as medical certificates, prescriptions and others, which have different purpose and characters, the range of application of the clause above is needed to be interpreted strictly.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.47
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• pp.157-182
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• 2010

A counter-guarantee is an independent undertaking and it functions in the same way as an ordinary independent guarantee. However, the typical notion of independence which applies to the relationship between the guarantee and the underlying contract cannot be exactly transposed to the relationship between the counter-guarantee and the primary guarantee, because the primary guarantor bears its duties that derive from the mandate. In this respect, this study reviews, with some critics, a Korean appellate court's decision and argues that, in spite of the principle of independence between the counter-guarantee and the primary guarantee, the primary guarantor may not be entitled to reimbursement from the counter-guarantor, if it is objectively evident that the primary guarantor has failed to perform its duty of verifying compliance under the primary guarantor or if it is objectively evident that the primary guarantor knows that it is objectively evident that there was fraudulent calling by the beneficiary under the primary guarantee.

• International Journal of Computer Science & Network Security
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• v.21 no.9
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• pp.125-131
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• 2021

Detecting fraudulent insurance claims is difficult due to small and unbalanced data. Some research has been carried out to better cope with various types of fraudulent claims. Nowadays, technology for detecting fraudulent insurance claims has been increasingly utilized in insurance and technology fields, thanks to the use of artificial intelligence (AI) methods in addition to traditional statistical detection and rule-based methods. This study obtained meaningful results for a fraudulent insurance claim detection model based on machine learning (ML) and deep learning (DL) technologies, using fraudulent insurance claim data from previous research. In our search for a method to enhance the detection of fraudulent insurance claims, we investigated the reinforcement learning (RL) method. We examined how we could apply the RL method to the detection of fraudulent insurance claims. There are limited previous cases of applying the RL method. Thus, we first had to define the RL essential elements based on previous research on detecting anomalies. We applied the deep Q-network (DQN) and double deep Q-network (DDQN) in the learning fraudulent insurance claim detection model. By doing so, we confirmed that our model demonstrated better performance than previous machine learning models.

• Korean Security Journal
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• no.36
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• pp.417-442
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• 2013

This study considers the characteristics of the separation of public and private security service during Koryo dynasty, and compares it with the modern security service. Modern day security service's definition of private and public security service was used to distinguish them. Given the different historical settings, it's difficult to argue that the distinction between public and private service during Koryo dynasty was clear, but it can be said that public security service was centered around palace guard and concerns the activities of protest, and military made for the relationship, and private security service was centered around power of DoBang and includes the activities of malingering, and Byolchogun. During the early days of Koryo, protest, district military and soldiers who stay in the palace were all parts of a palace revolt and this institutional improvement of soldiers who stay in the palace was accomplished during King Seongjong's rule. The tradition of a palace revolt can find its roots in the middle military, and after the unification, a palace revolt was reformed into the king's palace revolt of second and the 6th along the course of establishing the nation's system. All of the changes stem from the reformation for consolidating the royal authority. Gyung Dae Seoung wanted to protect himself and he slept with his army night and days and because of that, group of soldiers was created and it was called DOBANG. Some members were from dobang gyeonryong, The forced were powerful because it was gathered with a warriors with extraordinaire martial arts and competent management. Most of the soldiers followed gyeong dae seung because they believed that he has a strong leadership and loves his people, and had a strong faith in him. However, the general gyeong jang had a belief that politics must be reverted to the previous so the relationships between jungbang wasn't smooth. Because of the economic operational problems, due to fraud committed by the mens under his command failed to maintain integrity and was criticised.The misconception also fed up with the emperor and the deepening relationships between the soldiers, his dobang was dismantled. After he took over the dobang, for his personal safety and to strengthen his position he compensated gyeon dae seong's dobang and developed the organization. In the process of extending the dobang Choi chung heon recruited many talented people to strengthen the military base, and also accepted the advice and expanded the power of Dobang. Choi Chung Heon thus consolidated his political gains by weakening the power of the king's army and adjusting the myth, which could've threatened his regime, and this was called Dobang number 6th. Dobang number six got even more powerful by his son named Choi woo, and after ruling, he expanded into a room, and a substantial reorganization of Dobang was developed. And then the creation of yabyeolcho also showed the effect to prevent the crisis. Although the palace guards who were public security service of Koryo Dynasty was still maintained during the military rule era when the royal authority was incapacitated, it was only maintained to have a symbolic meaning as the actual authority including military power was with Choi, the master of Dobang, private security service group. Likewise, during the rule of Choi, private securty service could reign over public security service, and the noteworthy characteristic of Dobang is that it assisted the private soldier groups to seize the military power by reorganizing and modifying military system. Although both differences and similarities can be found when comparing the guards of Koryo Dynasty with those of contemporary society, they have a similarity in terms of the essence of guards that they guarantee the safety of their clients. As for differences, the royalty of Koryo Dynasty and the pursuit of profit of contemporary society are in contrast, and contemporary guards can be seen as the fulfillment of responsibility and duty by free will, whereas guards of Koryo Dynasty were ruled with military coercion.