• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• 제5권
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• pp.7-44
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• 1993

This study is focused on the review of buyer's remedy resulting from the breach of seller's duty in contracts for the international sale of goods focusing on UNCCIS, 1980 and the problems and suggestions of proper ideas for solving the problems. First problem on the buyer's remedy is related to the breach of seller's duty on del ivory of the contracted goods. When seller has failed to deliver the contracted goods to buyer within the stipulated periods, buyer can treat the contract as avoided and claim damages from seller. By the way, since UNCCIS does not provide any stipulation on the time of buyer's avoidance of the contract, buyer can delay the time of avoidance when the price of contracted goods is rising rapidly and enlarge the amount of damages, Since this stipulation is clearly unreasonable, proper solutions are required for UNCCIS. Second problem is related to the breach of seller's duty on deliver of goods which are of the quantity, quality and description required by the contract and which are contained or packged in the manner required by the contract. When seller has failed to deliver goods which are confirm with the contract, buyer may have one of the two rights of damages and the price reduction according to UNCCIS provided that he does not choose the avoidance. But, since the character and position of the price reduction as a buyer's remedy are not sufficient solutions, more detailed review on this point is required. Third, Seller's duty to provide documents is very important for overseas trade, but UNCCIS does not provide any specific buyer's remedy in comparison with the other remedy and also does not provide any stipulation on the Letter of Credit which have important roles for a device of setting payment in overseas trade. This means that trade customs and practice have not sufficiently reflected in UNCCIS. As the problems mentioned above may decrease the evaluation of buyer's remedy in UNCCIS and, furthermore, that of UNCCIS itself, proper solutions on these points are needed.

• Korea Trade Review
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• 제47권1호
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• pp.131-144
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• 2022

This study primarily concerns the Model Contract for International Sale of Manufactured Goods recently published by International Chamber of Commerce in 2020. To this end, this study examines the importance of the ICC model contract and its main characteristics, and considers in what form the contract is composed of and the scope of its application by classifying it according to the object of the contract, the subject and type of the transaction. In addition, this study divides the main contents of the ICC model contract into special conditions and general conditions, and attempts to scrutinize details of each condition in connection with the United Nations Convention on Contracts for International Sale of Goods(1980) as a governing law taken by the ICC model contract. Furthermore, this study puts forward, on the basis of the detailed examination of main conditions of ICC Model Contract, practical implications on what the parties to the contract should be aware of when using the ICC model contract.

• Journal of Contemporary Eastern Asia
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• 제10권2호
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• pp.1-23
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• 2011

China's proposal of the CAFTA (China-ASEAN Free Trade Area) in 2001 prompted a great debate about whether China was a trade competitor of ASEAN, given their similarity in economic development levels and trade/export structures. That Beijing shifted its focus on economic cooperation from the international level to the regional level led to its proposal of the CAFTA. As the Framework Agreement (Framework Agreement on Comprehensive Economic Cooperation between China and ASEAN) showed, Beijing's careful consideration for four newer ASEAN members (Cambodia, Laos, Myanmar and Vietnam) intended not only to help all ASEAN members develop economically, but also to narrow the economic gap existing between them and the six old ASEAN members; in return, China was recognized as a full market economy, which it is not currently recognized within the framework of the WTO. The substantial rise in bilateral trade and the structural changes of the trade in goods between China and ASEAN member nations after 2001 proves that ASEAN benefited more from the CAFTA, particularly when the areas where ASEAN had the comparative advantages were designated as the priority cooperation areas between China and ASEAN. In sum, similarities existing in economic development levels and industrial structures between China and ASEAN made them natural economic competitors. However, closer studies of trade in goods of S1-7, S1-6 and S1-0 reveal that China acted as an increasingly complementary trade partner of ASEAN after 2001.

• East Asian Journal of Business Economics (EAJBE)
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• 제5권3호
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• pp.1-32
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• 2017

Purpose - This study is to analyze the main macroeconomic indicators in Russia and the leading countries- partners and to research GDP, the debt, the foreign trade and other indicators. This main indicator is using in regulation in the economic stability of country, of stability of trade with countries-partners. Research design, data, and methodology - This paper used the amount of data to be analyzed at the present stage, from the 2010 to 2015 in Russia. In order to assess trends of development, the array of data on the indicators used for the 1995-2017. The data analyzed using the methods of multivariate statistics and application of the software package Stat graphics. Results - Hypothesis 1. In the recent years GDP has tended to increase in the most countries of the world. In Russia and its structure of branch of economics is uneven. Hypothesis 2. The foreign trade turnover also has tended to grow. The foreign trade balance in Russia and in the leading countries-partners has a positive balance, dominated by the export of goods. Conclusions - This paper finds that the foreign trade turnover also has tends to grow. The foreign trade balance in Russia and in the leading countries-partners has a positive balance, dominated by the export of goods.

• International Commerce and Information Review
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• 제12권2호
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• pp.267-290
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• 2010

The Kaes$\breve{o}$ng Industrial Park(KIP) is being developed in the region, as a collaborative economic development with South Korea. KIP construction started in June 2003, and in August 2003 North and South Korea ratified four tax and accountancy agreements to support investment. Pilot phase construction was completed in june 2004, and the KIP opened in December 2004. In the KIP's initial phase, 15 South Korean companies constructed manufacturing facilities. Three of the companies had started operations by march 2005. First phase plans envisaged participation by 250 South Korean companies from 2006, employing 100,000 people by 2007. Based on the 2009, 117 factories were employing approximately 41,000 north' workers and 1,000 south' staff. The industrial park is seen as a way for South Korean companies to employ cheap labour that is educated, skilled and speaks Korean which would make communication considerably easier. However the zone still faces a number of obstacles. In the view point of these obstacles, especially this study focused on the complementary issues for the improvement of trade goods management systems between South and North Korea. At the result of this study, it is suggested that, i) to establish portal system based on single window, ii) strengthen user-interface hands of logistic facilities, iii) stable foundations of trade and/or logistic management systems, iv) networking of IT infrastructure with South and North Korea, and so on.

• Korea Trade Review
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• 제42권1호
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• pp.27-45
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• 2017

A new phenomenon in recent trade is the rising interest in the trade of product production and manufacturing methods themselves, unlike in the past, when the interest was focused on the trade of tangible goods. That is, technology is considered as the object of trade instead of a simple element of production as "technology itself is commercialized". The broad meaning of technology encompasses all the property of knowledge with economic value. Its narrow meaning refers to technology used to produce and manufacture goods. Technologies have features such as no forms, heterogeneity, accumulation of value and extinction of right. The trade of technology commands different styles and content from that of tangible goods due to their unique characteristics; and accordingly, has various risk factors. In other words, technology can be traded in various ways according to commercial objectives including licensing, technical partnership, and joint investment in addition to general trading. The specific forms of technology transfer strategies depend on the purposes and situations between corporations. In case of technical trade with any form, the parties should be cautious about the following practical aspects: First, the contract should clearly define the scope and transfer method of technology. It is a very important matter how the provider of technology will provide the user of technology with abstract technology with no substantiality. Second, a monopoly on technology recognized as intellectual property rights is granted to their inventors for some periods of time, but anyone can have access to that technology after the term of existence. Thus, it is important to check the terms of existence of a patent as well as the terms of contract. Third, the user of technology should fulfill his confidentiality obligation to prevent the technology of the provider from being leaked to a third party unjustly. Fourth, the provider of technology should make a contribution to the successful implementation of the technology by the user as well as provide the licensed technology. Finally, a model contract is recommended to minimizing the legal hiatus of complex technology transfer trade when concluding a contract.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• 제12권
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• pp.163-200
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• 1999

The CISG entrusts many problems to trade or practice : for example the problems which can't be compromised between civil law system and common law system ; the problems in which the application of usage or practice in universal ; the problems of rapid change according to trade circumstance. The purpose of this paper is to confirm whether the CISG is accomodating the usage or practice in its Text, and to find which topic is most closely related to usage or practice in CISG. The Article 9 in the CISG is a provision of usages or practices applicable to contract. But the problems of the CISG in the accomodation of usages or practices are that it lacks the definitions of ‘usage’ and ‘practices’, the CISG is not concerned with the validity of any usage according to Article 4, and the application of usage or practice may differ in litigation and arbitration The topics such as delivery of goods, payment of price and the transfer of risk are most closely related to usages and practices. The delivery of goods and the transfer of risk are determined by the trade terms like FOB or CIF. But the method of identification and the risk for the sale of goods in transit can't be determined by the trade terms in INCOTERMS(1990). So the CISG may serve as complementing role. In payment of price, the trade term does not refer to the time and place of payment. So the CISG may be the basis of interpretation. Likewise the usages and practices such as trade terms, UCP and so on, can be expected to play a significant role in complementing and interpreting the CISG.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• 제72권
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• pp.139-160
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• 2016

Using the gravity model, this paper analyzes empirically how the world trade in goods is affected by regional trade agreements(RTAs) which have been spreading rapidly since the mid-1990s. This paper attempt to do the panel data analysis about 174 countries during the period of 1994-2008. These panel data include 157 RTAs. It is meaningful that this paper uses comprehensive data to analyze the net effect of regional trade agreements on the global trade volume. This provides a clue as to the answer to the stumbling block debate raised early in the regional trade agreement. Also, confirming how the participation of the WTO affected the trade volume among the member countries, the WTO-related dummy variables are additionally introduced to this gravity model. And as far as we know, the state system-related variables is first considered in this model. This variable reflects the social and cultural environments of countries as the proxy variable representing the sociocultural homogeneity. In all regressions, joining to the WTO and consistency of the state system have a positive effect on increasing the trade volumes between countries. According to the analysis of RTA trade effects, RTAs, on average, increase the volume of trade within the RTA region by 27%~37%, and decrease the volume of trade between the regional and the non-regional nation by 1.2%~3.4%.Therefore, the net effect of regional trade agreements on the promotion of global welfare is positive. For robustness check, we also introduce the interaction term of the dummy variable which reflects the RTA tightening and the continuous variable which reflects the distance effect. As a result, the RTAs alleviate the trade-decreasing effect which is caused by the distance between the countries.

• Journal of Korea Trade
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• 제23권8호
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• pp.1-26
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• 2019

Purpose - This paper investigates the recent trade collapse, recovery, and prolonged slowdown to shed light on the discussions about whether the current slowdown is structural or cyclical. I examine structural, cyclical, and heterogeneous aspects of the recent trade trends using detailed statistics of a small open economy, South Korea, whose economic success and growth have been heavily dependent on exports. Design/methodology - I use both aggregated and disaggregated trade statistics of South Korea. I apply the following methodologies: 1) I decompose the trade growth into the extensive and the intensive margin and observe the effect of prices over time. 2) I estimate the trade-income elasticities focusing on the world's import demand, separately for goods from the world and from Korea. 3) I compare the drop in goods exports in slowdown and trade collapse, which are the two unusual periods in the recent history when world trade has substantially dropped altogether. Findings - I show that while the last drop of trade after 2015 has cyclical aspects, there is evidence that the continued slowdown from 2012 is structural: 1) the so-called 'China factor' is found in the analysis of trade-income elasticity of the world and China for imports from Korea. 2) The bilateral trade barriers between Korea and its principal trading partners are universally tightening. 3) Firm sizes, destination countries, and the mode of transactions affect disaggregated trade flows during the slowdown periods. Originality/value - This paper contributes to the debate regarding whether the current trade slowdown is structural or cyclical. I provide two concrete evidence that the export drop in 2015 stems from low oil prices: one is the divergence of Korean export value index from its export quantity index, which started in late 2014 when oil prices plunged. I also contribute to the literature by providing evidence that Korea's trade barriers with important trading partners are steadily increasing since 2012 as the protectionist measures toward Korea's export products are steeply increasing after the global financial crisis.

• Journal of Arbitration Studies
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• 제32권3호
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• pp.71-91
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• 2022

The CISG does not stipulate the subject of the burden of proof, and in the arbitral award, the buyer is liable for proof compared to the seller for nonconformity of the product. Without a unified interpretation of the burden of proof of non-contractual goods, confusion of uncertainty may increase if the parties to the sale contract have a dispute due to the trade in goods. It is an important issue to create a unified regulation on this because the courts or arbitration agencies of the Contracting States of the CISG interpret and apply the "seller's obligation to conform to the goods contract" stipulated in this Convention in various ways. In this study, in the case of international Sales of Goods there is a tendency to prefer arbitration through arbitration agencies in the dispute, so the subject of burden of proof is analyzed through arbitration cases applied by CISG as the governing law. Most international commodity trading around the world is regulated by this Convention, but according to the rigid convention regulations, it is analyzed and interpreted through cases where this convention is applied to each country's international arbitration, suggesting the need for a rigid CISG revision.