• Ocean and Polar Research
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• v.37 no.4
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• pp.341-356
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• 2015

A nation has a sovereign right to develop and use its natural resources according to its policies with regard to development and the relevant environment. A nation also has an obligation not to harm other countries or damage environments of neighboring countries as consequences of such actions of developments or use of natural resources. However, international precedents induce a nation to take additional actions not to cause more damages from the specific acts causing environmental damages beyond national borders, when such acts have economic and social importance. That is to say that there is a tendency to resolve such issues in a way to promote the balance between the mutual interests by allowing such actions to continue. A solution to China's Three Gorges Dam dilemma based on a soft law approach is more credible than relying on a good faith approach of national responsibilities and international legal proceedings since the construction and operation of the dam falls within the category of exercising national sovereign rights. If a large scale construction project such as the Three Gorges Dam or operation of a nuclear power plant causes or may cause environmental damage beyond the border of a nation engaged in such an undertaking, countries affected by this undertaking should jointly monitor the environmental effects in a spirit of cooperation rather than trying to stop the construction and should seek cooperative solutions of mutual understanding to establish measures to prevent further damages. If China's Three Gorges Dam construction and operation cause or contain the possibility of causing serious damages to marine environment, China cannot set aside its national responsibility to meet international obligations if China is aware of or knows about the damage that has occurred or may occur but fail to prevent, minimize, reverse or eliminate additional chances of such damages, or fails to put in place measures in order to prevent the recurrence of such damages. However, Korea must be able to prove a causal relationship between the relevant actions and resulting damages if it is to raise objections to the construction or request certain damage-prevention actions against crucial adverse effects on the marine environment out of respect for China's right to develop resources and acts of use thereof. Therefore, it is essential to cumulate continuous monitoring and evaluations information pertaining to marine environmental changes and impacts or responses of affected waters as well as acquisition of scientific baseline data with observed changes in such baseline. As China has adopted a somewhat nonchalant attitude toward taking adequate actions to protect against marine pollution risks or adverse effects caused by the construction and operation of China's Three Gorges Dam, there is a need to persuade China to adopt a more active stance and become involved in the monitoring and co-investigation of the Yellow Sea in order to protect the marine environment. Moreover, there is a need to build a regular environmental monitoring system that includes the evaluation of environmental effects beyond borders. The Espoo Convention can serve as a mechanism to ease potential conflicts of national interest in the Northeast Asian waters where political and historical sensitivities are acute. Especially, the recent diplomatic policy advanced by Korea and China can be implemented as an important example of gentle cooperation as the policy tool of choice is based on regional cooperation or cooperation between different regions.

• Journal of Intelligence and Information Systems
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• v.25 no.3
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• pp.1-17
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• 2019

Because stock price forecasting is an important issue both academically and practically, research in stock price prediction has been actively conducted. The stock price forecasting research is classified into using structured data and using unstructured data. With structured data such as historical stock price and financial statements, past studies usually used technical analysis approach and fundamental analysis. In the big data era, the amount of information has rapidly increased, and the artificial intelligence methodology that can find meaning by quantifying string information, which is an unstructured data that takes up a large amount of information, has developed rapidly. With these developments, many attempts with unstructured data are being made to predict stock prices through online news by applying text mining to stock price forecasts. The stock price prediction methodology adopted in many papers is to forecast stock prices with the news of the target companies to be forecasted. However, according to previous research, not only news of a target company affects its stock price, but news of companies that are related to the company can also affect the stock price. However, finding a highly relevant company is not easy because of the market-wide impact and random signs. Thus, existing studies have found highly relevant companies based primarily on pre-determined international industry classification standards. However, according to recent research, global industry classification standard has different homogeneity within the sectors, and it leads to a limitation that forecasting stock prices by taking them all together without considering only relevant companies can adversely affect predictive performance. To overcome the limitation, we first used random matrix theory with text mining for stock prediction. Wherever the dimension of data is large, the classical limit theorems are no longer suitable, because the statistical efficiency will be reduced. Therefore, a simple correlation analysis in the financial market does not mean the true correlation. To solve the issue, we adopt random matrix theory, which is mainly used in econophysics, to remove market-wide effects and random signals and find a true correlation between companies. With the true correlation, we perform cluster analysis to find relevant companies. Also, based on the clustering analysis, we used multiple kernel learning algorithm, which is an ensemble of support vector machine to incorporate the effects of the target firm and its relevant firms simultaneously. Each kernel was assigned to predict stock prices with features of financial news of the target firm and its relevant firms. The results of this study are as follows. The results of this paper are as follows. (1) Following the existing research flow, we confirmed that it is an effective way to forecast stock prices using news from relevant companies. (2) When looking for a relevant company, looking for it in the wrong way can lower AI prediction performance. (3) The proposed approach with random matrix theory shows better performance than previous studies if cluster analysis is performed based on the true correlation by removing market-wide effects and random signals. The contribution of this study is as follows. First, this study shows that random matrix theory, which is used mainly in economic physics, can be combined with artificial intelligence to produce good methodologies. This suggests that it is important not only to develop AI algorithms but also to adopt physics theory. This extends the existing research that presented the methodology by integrating artificial intelligence with complex system theory through transfer entropy. Second, this study stressed that finding the right companies in the stock market is an important issue. This suggests that it is not only important to study artificial intelligence algorithms, but how to theoretically adjust the input values. Third, we confirmed that firms classified as Global Industrial Classification Standard (GICS) might have low relevance and suggested it is necessary to theoretically define the relevance rather than simply finding it in the GICS.

• Journal of the Daesoon Academy of Sciences
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• v.36
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• pp.117-152
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• 2020

In Daesoon Thought, Matteo Ricci is regarded highly as a Jongjang, 'religious leader,' (of Christianity). This paper deals with the life and philosophical/theological thought of Matteo Ricci as homo-religiosus from the perspective of phenomenology of religion. Examining his historical background and biographical sketch, I will analyze Ricci's understanding of God, humanity, and salvation and re-evaluate his relationship with Daesoon Thought. Matteo Ricci, born in Italy, became a Jesuit missionary to China and transmitted various products of western civilization. Accepting the pro-cultural approach of Jesuit mission, he applied it to Chinese culture and language by learning the Chinese language and regarding Chinese people as his friends. This was a sympathetic way to transmit Western religion and culture while on Chinese soil. He suggested eight reasons to look towards the future of China with optimism and taught Chinese people his Christian message through his indirect means of understanding and persuasion. In China, Jesuit missionaries called the Christian God 'Tianzhu (Cheonju in Sino-Korean),' meaning Lord of Heaven. Ricci identified the Confucian notion of 'Shangdi (Sangje in Sino-Korean),' meaning Supreme Emperor (or God) with Tianzhu. While translating Confucian scriptures, he found the common ground between Confucianism and Christianity to be the monotheism of ancient Confucianism. He criticized the concepts of God in Buddhism and Daoism, and justified the Christian doctrine of God by way of a Confucian understanding of deity. Ricci's understanding of humanity was based on his Christian faith in creation, and he criticized the Buddhist concept of transmigration. He proposed Christian ethics and doctrine of salvation by using discourse on the afterlife and in particular, the concepts of heaven and hell. Concerning the relationship between Daesoon Thought and Ricci, the following aspects should be examined: 1.) Ricci's contribution to the cultural exchanges between East and West, 2.) his peaceful approach to his mission based on dialogue and persuasion, 3.) the various activities conducted by Ricci as a Christian leader, and 4.) his belief in miraculous healings. His influence on Korea will likewise be explored. Ricci's ultimate aim was to communicate with Asian people and unify East and West under a singular worldview by emphasizing the similarities between the Christian and Confucian concepts of God.

• MISULJARYO - National Museum of Korea Art Journal
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• v.97
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• pp.14-54
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• 2020

The overall study of Samsaebulhoedo (painting of the Assembly of Buddhas of Three Ages) at Yongjusa Temple has focused on dating it, analyzing the painting style, identifying its painter, and scrutinizing the related documents. However, its greater coherence could be achieved through additional support from empirical evidence and logical consistency. Recent studies on Samsaebulhoedo at Yongjusa Temple that postulate that the painting could have been produced by a monk-painter in the late nineteenth century and that an original version produced in 1790 could have been retouched by a painter in the 1920s using a Western painting style lack such empirical proof and logic. Although King Jeongjo's son was not yet installed as crown prince, the Samsaebulhoedo at Yongjusa Temple contained a conventional written prayer wishing for a long life for the king, queen, and crown prince: "May his majesty the King live long / May her majesty the Queen live long / May his highness the Crown Prince live long" (主上殿下壽萬歲, 王妃殿下壽萬歲, 世子邸下壽萬歲). Later, this phrase was erased using cinnabar and revised to include unusual content in an exceptional order: "May his majesty the King live long / May his highness the King's Affectionate Mother (Jagung) live long / May her majesty the Queen live long / May his highness the Crown Prince live long" (主上殿下壽萬歲, 慈宮邸下壽萬歲, 王妃殿下壽萬歲, 世子邸下壽萬歲). A comprehensive comparison of the formats and contents in written prayers found on late Joseon Buddhist paintings and a careful analysis of royal liturgy during the reign of King Jeongjo reveal Samsaebulhoedo at Yongjusa Temple to be an original version produced at the time of the founding of Yongjusa Temple in 1790. According to a comparative analysis of formats, iconography, styles, aesthetic sensibilities, and techniques found in Buddhist paintings and paintings by Joseon court painters from the eighteenth and nineteenth centuries, Samsaebulhoedo at Yongjusa Temple bears features characteristic of paintings produced around 1790, which corresponds to the result of analysis on the written prayer. Buddhist paintings created up to the early eighteenth century show deities with their sizes determined by their religious status and a two-dimensional conceptual composition based on the traditional perspective of depicting close objects in the lower section and distant objects above. This Samsaebulhoedo, however, systematically places the Buddhist deities within a threedimensional space constructed by applying a linear perspective. Through the extensive employment of chiaroscuro as found in Western painting, it expresses white highlights and shadows, evoking a feeling that the magnificent world of the Buddhas of the Three Ages actually unfolds in front of viewers. Since the inner order of a linear perspective and the outer illusion of chiaroscuro shading are intimately related to each other, it is difficult to believe that the white highlights were a later addition. Moreover, the creative convergence of highly-developed Western painting style and techniques that is on display in this Samsaebulhoedo could only have been achieved by late-Joseon court painters working during the reign of King Jeongjo, including Kim Hongdo, Yi Myeong-gi, and Kim Deuksin. Deungun, the head monk of Yongjusa Temple, wrote Yongjusa sajeok (History of Yongjusa Temple) by compiling the historical records on the temple that had been transmitted since its founding. In Yongjusa sajeok, Deungun recorded that Kim Hongdo painted Samsaebulhoedo as if it were a historical fact. The Joseon royal court's official records, Ilseongnok (Daily Records of the Royal Court and Important Officials) and Suwonbu jiryeong deungnok (Suwon Construction Records), indicate that Kim Hongdo, Yi Myeong-gi, and Kim Deuksin all served as a supervisor (gamdong) for the production of Buddhist paintings. Since within Joseon's hierarchical administrative system it was considered improper to allow court painters of government position to create Buddhist paintings which had previously been produced by monk-painters, they were appointed as gamdong in name only to avoid a political liability. In reality, court painters were ordered to create Buddhist paintings. During their reigns, King Yeongjo and King Jeongjo summoned the literati painters Jo Yeongseok and Kang Sehwang to serve as gamdong for the production of royal portraits and requested that they paint these portraits as well. Thus, the boundary between the concept of supervision and that of painting occasionally blurred. Supervision did not completely preclude painting, and a gamdong could also serve as a painter. In this light, the historical records in Yongjusa sajeok are not inconsistent with those in Ilseongnok, Suwonbu jiryeong deungnok, and a prayer written by Hwang Deok-sun, which was found inside the canopy in Daeungjeon Hall at Yongjusa Temple. These records provided the same content in different forms as required for their purposes and according to the context. This approach to the Samsaebulhoedo at Yongjusa Temple will lead to a more coherent explanation of dating the painting, analyzing its style, identifying its painter, and interpreting the relevant documents based on empirical grounds and logical consistency.

• Journal of Intelligence and Information Systems
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• v.22 no.2
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• pp.57-79
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• 2016

It is a rising trend that the number of users using one of the social media channels, the Social Network Service, so called the SNS, is getting increased. As per to this social trend, more companies have interest in this networking platform and start to invest their funds in it. It has received much attention as a tool spreading and expanding the message that a company wants to deliver to its customers and has been recognized as an important channel in terms of the relationship marketing with them. The environment of media that is radically changing these days makes possible for companies to approach their customers in various ways. Particularly, the social network service, which has been developed rapidly, provides the environment that customers can freely talk about products. For companies, it also works as a channel that gives customized information to customers. To succeed in the online environment, companies need to not only build the relationship between companies and customers but focus on the relationship between customers as well. In response to the online environment with the continuous development of technology, companies have tirelessly made the novel marketing strategy. Especially, as the one-to-one marketing to customers become available, it is more important for companies to maintain the relationship marketing with their customers. Among many SNS, Facebook, which many companies use as a communication channel, provides a fan page service for each company that supports its business. Facebook fan page is the platform that the event, information and announcement can be shared with customers using texts, videos, and pictures. Companies open their own fan pages in order to inform their companies and businesses. Such page functions as the websites of companies and has a characteristic of their brand communities such as blogs as well. As Facebook has become the major communication medium with customers, companies recognize its importance as the effective marketing channel, but they still need to investigate their business performances by using Facebook. Although there are infinite potentials in Facebook fan page that even has a function as a community between users, which other platforms do not, it is incomplete to regard companies' Facebook fan pages as communities and analyze them. In this study, it explores the relationship among customers through the network of the Facebook fan page users. The previous studies on a company's Facebook fan page were focused on finding out the effective operational direction by analyzing the use state of the company. However, in this study, it draws out the structural variable of the network, which customer committment can be measured by applying the social network analysis methodology and investigates the influence of the structural characteristics of network on the business performance of companies in an empirical way. Through each company's Facebook fan page, the network of users who engaged in the communication with each company is exploited and it is the one-mode undirected binary network that respectively regards users and the relationship of them in terms of their marketing activities as the node and link. In this network, it draws out the structural variable of network that can explain the customer commitment, who pressed "like," made comments and shared the Facebook marketing message, of each company by calculating density, global clustering coefficient, mean geodesic distance, diameter. By exploiting companies' historical performance such as net income and Tobin's Q indicator as the result variables, this study investigates influence on companies' business performances. For this purpose, it collects the network data on the subjects of 54 companies among KOSPI-listed companies, which have posted more than 100 articles on their Facebook fan pages during the data collection period. Then it draws out the network indicator of each company. The indicator related to companies' performances is calculated, based on the posted value on DART website of the Financial Supervisory Service. From the academic perspective, this study suggests a new approach through the social network analysis methodology to researchers who attempt to study the business-purpose utilization of the social media channel. From the practical perspective, this study proposes the more substantive marketing performance measurements to companies performing marketing activities through the social media and it is expected that it will bring a foundation of establishing smart business strategies by using the network indicators.

• Journal of Science of Art and Design
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• v.10
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• pp.161-181
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• 2006

The words which appeared in my theoretical study and work are image transformation to digital painting, simulation, heterologie and transfiguration, etc. Firstly, let's look into 'digital era' or 'new media era'. Nowadays, the image world including painting within the rapid social and cultural change, which is called as digital era, is having the dramatic change. Together with the development of scientific technology, large number of events which was deemed to be impossible is happening as real in image world Moreover, these changes in image world is greatly influencing to our life. The word which compresses this change of image world and shows is 'digital'. Digit, which means fingers in Latin, indicates separately changing signal, and to be more narrow, it indicates the continual signal of '0' and ' 1' in computer. The opposite word is 'analogue'. As analogue is the word meaning 'infer' or 'similarity', it indicates the signal or form which continuously changes along the series of time when it is compared to digital. Instead of analogue, digital is embossed as a major ruler along the whole area of our current culture. In whole culture and art area, and in whole generalscience, digital is appearing as it has the modernism and importance. The prefix, 'digital', e.g. digital media, digital culture, digital design, digital philosophy, etc, is treated as the synonym of modernism and something new. This advent of digital results the innovative change to the image world, creates the new beauty experience which we could not experience before, and forecasts the formation of advanced art and expansion of creative area. Various intellectual activities using computer is developing the whole world with making the infrastructure. Computer in painting work immediately accomplishes the idea of painters, takes part in simulation work, contingency such as abrupt reversal, extraction, twisting, shaking, obscureness, overlapping, etc, and timing to stimulate the creativity of painters, and provides digital formative language which enables new visual experience to the audience. When the change of digital era, the image appeared in my work is shown in 'transfiguration' like drawing. The word, 'transfiguration' does not indicate the completed and fixed real substance but indicate endlessly moving and floating shape. Thus, this concept is opposite to the substantial consideration, so that various concepts which is able to replace this in accordance with the similar cases are also exist such as change, deterioration, mutation, deformity of appearance and morphing which is frequently used in computer as a technical word. These concepts are not clearly classified, and variably and complicatedly related. Transfiguration basically means the denial of "objectivity' and '(continual) stagnation' or deviation from those. This phenomenon is appeared through the all art schools of art ever since the realism is denied in the 19th century. It is called as 'deformation' in case of expressionism, futurism, cubism, etc, in the beginning of the century, which its former indication is mostly preserved within the process of structural deviation and which has the realistic limit which should be preserved. On the contrary, dramatic transfiguration which has been showing in the modern era through surrealism is different in the point that dramatic transfiguration tends to show the deterioration and deviation rather than the preservation of indicated object. From this point, transfiguration coming out from morphing using computer deteriorates and hides the reality and furthermore, it replaces the 'reality'. Moreover, transfiguration is closely approached to the world of fake or 'imaginary' simulation world of Baudrillard. According to Baudrillard, the image hides and deteriorates the reality, and furthermore, expresses 'not existing' to 'imaginary' under the name of transfiguration. Certain reality, that is, image which is absent from the reality is created and overflowed, so that it finally replaces the reality. This is simulation as it is said by Baudrillard. In turn, Georges Bataille discusses about the image which is produced by digital technology in terms of heterologie. Image of heterologie is the visual signal which is established with the media. Image of media is to have the continuous characteristics of produce, extinction, and transformation, and its clear boundary between images becomes meaningless. The meaning of composition, excess, violation, etc of digital image is explained to heterological study or heteologie suggested as important meaning of Georges Bataille who is a heretic philosopher. As the form and image of mutation shows the shape in accordance with mechanical production, heterologie is introduced as very low materialism (or bas materialisme), in this theory. Heterologie as low materialism which is gradually changing is developing as a different concept and analysis because of the change of time in the late 20s century beside high or low meaning. Including my image, all images non-standardizes and transforms the code. However, reappearance and non-standardization of this code does not seem to be simple. The problem of transformation caused by transfiguration which appears in my digital drawing painting, simulation, heterologie, etc, are the continual problems. Moreover, the subject such as existence of human being, distance from the real life, politics and social problems are being extended to actual research and various expressing work. Especially, individual image world is established by digital painting transfiguration technique, and its change and review start to have the durability. The consciousness of observers who look at the image is changing the subject. Together with theoretical research, researchers are to establish the first step to approach to various image change of digital era painting through transfiguration technique using our realistic and historical image.

• Korean Journal of Agricultural and Forest Meteorology
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• v.17 no.2
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• pp.108-125
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• 2015

The agro-climatic index is one of the ways to assess the climate resources of particular agricultural areas on the prospect of agricultural production; it can be a key indicator of agricultural productivity by providing the basic information required for the implementation of different and various farming techniques and practicalities to estimate the growth and yield of crops from the climate resources such as air temperature, solar radiation, and precipitation. However, the agro-climate index can always be changed since the index is not the absolute. Recently, many studies which consider uncertainty of future climate change have been actively conducted using multi-model ensemble (MME) approach by developing and improving dynamic and statistical downscaling of Global Climate Model (GCM) output. In this study, the agro-climatic index of Korean Peninsula, such as growing degree day based on $5^{\circ}C$, plant period based on $5^{\circ}C$, crop period based on $10^{\circ}C$, and frost free day were calculated for assessment of the spatio-temporal variations and uncertainties of the indices according to climate change; the downscaled historical (1976-2005) and near future (2011-2040) RCP climate sceneries of AR5 were applied to the calculation of the index. The result showed four agro-climatic indices calculated by nine individual GCMs as well as MME agreed with agro-climatic indices which were calculated by the observed data. It was confirmed that MME, as well as each individual GCM emulated well on past climate in the four major Rivers of South Korea (Han, Nakdong, Geum, and Seumjin and Yeoungsan). However, spatial downscaling still needs further improvement since the agro-climatic indices of some individual GCMs showed different variations with the observed indices at the change of spatial distribution of the four Rivers. The four agro-climatic indices of the Korean Peninsula were expected to increase in nine individual GCMs and MME in future climate scenarios. The differences and uncertainties of the agro-climatic indices have not been reduced on the unlimited coupling of multi-model ensembles. Further research is still required although the differences started to improve when combining of three or four individual GCMs in the study. The agro-climatic indices which were derived and evaluated in the study will be the baseline for the assessment of agro-climatic abnormal indices and agro-productivity indices of the next research work.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.19
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• pp.224-242
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• 2003

The author believes that the main task of study in international trade usage and practice is the management of transactional risks involved in international sale of goods. They are foreign exchange risks, transportation risks, credit risk, risk of miscommunication, etc. In most cases, these risks are more serious and enormous than those involved in domestic sales. Historically, the merchant adventurers organized the voyage abroad, secured trade finance, and went around the ocean with their own or consigned cargo until around the $mid-19^{th}$ century. They did business faceto-face at the trade fair or the open port where they maintained the local offices, so-called "Trading House"(商館). Thererfore, the transactional risks might have been one-sided either with the seller or the buyer. The bottomry seemed a typical arrangement for risk sharing among the interested parties to the adventure. In this way, such organizational arrangements coped with or bore the transactional risks. With the advent of ocean liner services and wireless communication across the national border in the $19^{th}$ century, the business of merchant adventurers developed toward the clear division of labor; sales by mercantile agents, and ocean transportation by the steam ship companies. The international banking helped the process to be accelerated. Then, bills of lading backed up by the statute made it possible to conduct documentary sales with a foreign partner in different country. Thus, FOB terms including ocean freight and CIF terms emerged gradually as standard trade terms in which transactional risks were allocated through negotiation between the seller and the buyer located in different countries. Both of them did not have to go abroad with their cargo. Instead, documentation in compliance with the terms of the contract(plus an L/C in some cases) must by 'strictly' fulfilled. In other words, the set of contractual documents must be tendered in advance of the arrival of the goods at port of discharge. Trust or reliance is placed on such contractual paper documents. However, the container transport services introduced as international intermodal transport since the late 1960s frequently caused the earlier arrival of the goods at the destination before the presentation of the set of paper documents, which may take 5 to 10% of the amount of transaction. In addition, the size of the container vessel required the speedy transport documentation before sailing from the port of loading. In these circumstances, computerized processing of transport related documents became essential for inexpensive transaction cost and uninterrupted distribution of the goods. Such computerization does not stop at the phase of transportation but extends to cover the whole process of international trade, transforming the documentary sales into less-paper trade and further into paperless trade, i.e., EDI or E-Commerce. Now we face the other side of the coin, which is data security and paperless transfer of legal rights and obligations. Unfortunately, these issues are not effectively covered by a set of contracts only. Obviously, EDI or E-Commerce is based on the common business process and harmonized system of various data codes as well as the standard message formats. This essential feature of E-Commerce needs effective coordination of different divisions of business and tight control over credit arrangements in addition to the standard contract of sales. In a few word, information does not alway invite "trust". Credit flows from people, or close organizational tie-ups. It is our common understanding that, without well-orchestrated organizational arrangements made by leading companies, E-Commerce does not work well for paperless trade. With such arrangements well in place, participating E-business members do not need to seriously care for credit risk. Finally, it is also clear that E-International Commerce must be linked up with a set of government EDIs such as NACCS, Port EDI, JETRAS, etc, in Japan. Therefore, there is still a long way before us to go for E-Commerce in practice, not on the top of information manager's desk.

• Journal of the Korean Institute of Landscape Architecture
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• v.47 no.6
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• pp.115-128
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• 2019

Huam-dong is a representative area from the Japanese colonial period and is the space where most Japanese-style buildings remain in Seoul. Interest in modern cultural heritage continues to increase, including the registration of cultural properties in 2001, building assets in 2015, and the registration of cultural property units in 2018. As the debate continues over the necessity of preserving cultural heritage that reminds us of the Japanese colonial, there is a need for research to grasp the perceptions of stakeholders along with the perceived value of such spaces. This study identified the subjective perception types of the stakeholders concerned with the Japanese-style building group in Huam-dong, analyzed characteristics by types, and debated the issues. For this purpose, Q methodology, which is a statistical technique for measuring human self-subjectivity and extracting common human perspectives, was used. A literature study on the values of Huam-dong and modern cultural heritage was conducted, and a Q questionnaire based on five aspects of modern cultural heritage values (historical, architectural, sociocultural, landscape, and economic) was applied. The results of the study depicted three types of cognition and showed different attitudes toward the Japanese building group. This study found a conflict comparing the perceptional differences between the types of cognition. This study is meaningful in that it provides an in-depth approach to the perspectives of the stakeholders concerned with the Japanese-style buildings clustered in central Seoul. It is also meant to present a theoretical framework that can be applied to the use area as sustainable cultural heritage through the establishment of preservation and utilization of Japanese-style areas and conflict resolution.

• Journal of Arbitration Studies
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• v.19 no.2
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• pp.95-126
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• 2009

One of the controversial issues in investor-state investment arbitration is the interpretation of "umbrella clause" that is found in most BIT and FTAs. This treaty clause requires on Contracting State of treaty to observe all investment obligations entered into with foreign investors from the other Contracting State. This clause did not receive in-depth attention until SGS v. Pakistan and SGS v. Philippines cases produced starkly different conclusions on the relations about treaty-based jurisdiction and contract-based jurisdiction. More recent decisions by other arbitral tribunals continue to show different approaches in their interpretation of umbrella clauses. Following the SGS v. Philippines decision, some recent decisions understand that all contracts are covered by umbrella clause, for example, in Siemens A.G. v. Argentina, LG&E Energy Corp. v. Argentina, Sempra Energy Int'l v. Argentina and Enron Corp. V. Argentina. However, other recent decisions have found a different approach that only certain kinds of public contracts are covered by umbrella clauses, for example, in El Paso Energy Int'l Co. v. Argentina, Pan American Energy LLC v. Argentina and CMS Gas Transmission Co. v. Argentina. With relation to the exhaustion of domestic remedies, most of tribunals have the position that the contractual remedy should not affect the jurisdiction of BIT tribunal. Even some tribunals considered that there is no need to exhaust contract remedies before bringing BIT arbitration, provoking suspicion of the validity of sanctity of contract in front of treaty obligation. The decision of the Annulment Committee In CMS case in 2007 was an extraordinarily surprising one and poured oil on the debate. The Committee composed of the three respected international lawyers, Gilbert Guillaume and Nabil Elaraby, both from the ICJ, and professor James Crawford, the Rapportuer of the International Law Commission on the Draft Articles on the Responsibility of States for Internationally Wrongful Acts, observed that the arbitral tribunal made critical errors of law, however, noting that it has limited power to review and overturn the award. The position of the Committee was a direct attack on ICSID system showing as an internal recognition of ICSID itself that the current system of investor-state arbitration is problematic. States are coming to limit the scope of umbrella clauses. For example, the 2004 U.S. Model BIT detailed definition of the type of contracts for which breach of contract claims may be submitted to arbitration, to increase certainty and predictability. Latin American countries, in particular, Argentina, are feeling collectively victims of these pro-investor interpretations of the ICSID tribunals. In fact, BIT between developed and developing countries are negotiated to protect foreign investment from developing countries. This general characteristic of BIT reflects naturally on the provisions making them extremely protective for foreign investors. Naturally, developing countries seek to interpret restrictively BIT provisions, whereas developed countries try to interpret more expansively. As most of cases arising out of alleged violation of BIT are administered in the ICSID, a forum under the auspices of the World Bank, these Latin American countries have been raising the legitimacy deficit of the ICSID. The Argentine cases have been provoking many legal issues of international law, predicting crisis almost coming in actual investor-state arbitration system. Some Latin American countries, such as Bolivia, Venezuela, Ecuador, Argentina, already showed their dissatisfaction with the ICSID system considering withdrawing from it to minimize the eventual investor-state dispute. Thus the disagreement over umbrella clauses in their interpretation is becoming interpreted as an historical reflection on the continued tension between developing and developed countries on foreign investment. There is an academic and political discussion on the possible return of the Calvo Doctrine in Latin America. The paper will comment on these problems related to the interpretation of umbrella clause. The paper analyses ICSID cases involving principally Latin American countries to identify the critical legal issues arising between developing and developed countries. And the paper discusses alternatives in improving actual investor-State investment arbitration; inter alia, the introduction of an appellate system and treaty interpretation rules.