• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.17
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• pp.7-35
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• 2002

In many international financing transactions Korean companies are required to issue a guarantee. Thus far, however, legal issues on international guarantees have not been fully discussed in Korea. This is partly because most of the international guarantees are governed by a foreign law such as English law or the laws of the State of New York. In this articles the author examines major concepts or terms and conditions of a typical international guarantee, e.g., language on consideration, primary obligor, joint and several guarantee, unconditional and irrevocable guarantee, continuing guarantee, right of subrogation, representations and warranties, covenant or undertaking, currency indemnity, assignment, participation, governing law and jurisdiction clause, etc. For reference, standard forms of a guarantee and a standby letter of credit are attached to the article. In examining the terms and conditions, the author compares them with similar or equivalent concepts under Korean law. The author further discusses some Korean law issues that may arise under international guarantees governed by a foreign law. These issues include the application of the ultra vires doctrine under Article 34 of the Civil Code of Korea, the validity of an international guarantee which a Korean company has issued in violation of the guarantee ceiling set under Article 10 of the Law on Monopoly Regulation and Fair Trade of Korea and the validity of an international guarantee which a Korean party has issued in violation of the Foreign Exchange Transaction Law. In addition, the author discusses some issues under a so-called independent guarantee and a standby letter of credit. In this regard, reference is made to the Uniform Rules for Demand Guarantee (URDG), International Standby Practices (ISP98) and the Convention on Independent Guarantees and Stand-by Letters of Credit adopted by the United Nations in 1995. Finally, the author examines major terms and conditions of typical comfort letters and discusses some legal issues, such as the binding force of the comfort letter. In dealing with the issues the author underscores that to the extent the issues are not properly dealt with by an international norm such as Uniform Customs and Practice for Documentary Credits or ISP 98, the issues must be analyzed by reference to the governing law of the relevant instrument.

• Journal of Korea Trade
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• v.26 no.4
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• pp.39-62
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• 2022

Purpose - Along with the growing awareness of environmental sustainability, international green entrepreneurship is expected to realize international sustainable development (ISD) by introducing ecological innovation results, using fewer resources consumption, and reducing negative environmental impacts. Building upon contingency theory and social network theory, this paper attempts to explore the role of home country-based networks (technology ties and business ties) as contingent factors that might impact the effectiveness of entrepreneurial orientation (EO) in promoting ISD among green ventures. Design/methodology - Original data were collected from 127 green ventures in China based on the random sampling technique. These green ventures mainly focus on the lower use of energy or materials, lower CO2 emissions, and higher ecological benefits located in the Fujian province, which highlights green economic growth and economic cooperation with international markets. Moderated hierarchical linear regression analysis was conducted to test our hypotheses concerning the main relationship between EO (innovativeness, proactiveness, and risk-taking) and ISD as well as the moderating effects of home country-based networks (technology ties and business ties) on the main relationship. Findings - Empirical results indicate that: first, both innovativeness and proactiveness positively affect ISD; second, both technology ties and business ties at home might significantly strengthen the positive relationship between innovativeness (or proactiveness) and ISD. However, this study did not find significant moderating effects of technology ties or business ties at home on the relationship between risk-taking and ISD. Originality/value - Since previous literature often gives more focus on the host country context of social networks, this study shifts to a home country-based network context. Therefore, our research might enrich the international green entrepreneurship literature by empirically investigating the contingent value of home country-based networks in the relationship between EO and ISD in the context of an emerging economy such as China.

• Journal of Climate Change Research
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• v.8 no.4
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• pp.297-303
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• 2017

Considering Japan's Greenhouse Gas (GHG) emissions reduction target for Fiscal Year (FY) 2030, the Joint Crediting Mechanism (JCM) was analyzed in order to estimate its significant contribution to Japan's Nationally Determined Contribution (NDC) and check its availability as a new mechanism to achieve Korea's 2030 mitigation target of 11.3% using carbon credits from international market mechanisms. The total budget for JCM Model Projects (1.2 billion JPY/yr) and JCM REDD+ Model Projects (0.8 billion JPY/yr), which are expected to deliver at least 50% of issued credits to Japan, is estimated about 21.6 billion JPY by the year 2030. This budget is about one third of the purchase of carbon credits from international carbon markets. So far, JCM credits of $378tCO_2-eq$. have been allocated to Japan, which are about 77% of the total issued credit through five-JCM Model Projects implemented from the year 2014. It is expected that Japan will obtain about $0.5MtCO_2-eq$. credits more from 100-ongoing JCM Projects, which are only 1% of Japan's NDC target through JCM credits. With regard to regular issued credits from implemented projects, expected new issued credits from pipeline projects and the less budget for JCM implementation as compared to purchasing carbon credits, JCM credits can be reached a resonable level of Japan's NDC target of $50{\times}100MtCO_2-eq$. through JCM until FY 2030.

• International Journal of Highway Engineering
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• v.12 no.3
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• pp.27-35
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• 2010

Asphalt Plug Joint(APJ) is an buried expansion joint that enabling the smooth connection of expansion gap and road pavement by filling the gap with bituminous mixture of 20% bitumen and 80% aggregate by weight, so it secures evenness and expansion or contraction using the material's properties. Although APJ is designed to have a 6-7 year lifecycle, there are some cases where it is damaged within the first six months. This early damage cause traffic congestion due to frequent repair works, and social cost exceeding the installation cost of the joint. So, in this research, we have developed a new system of Buried Folding Lattice Joint(BFLJ) which can overcome the disadvantages of APJ, and have analyzed and compared it's performance with the conventional APJ through experiment with specimens. As a result of the experiment, APJ had crack formation on both ends of the gap plate, spreading to the surface of the expansion joint. With this result, we can conclude that the reason for early damage is the tension failure due to the concentration of strain in the asphalt mixture along the end of gap plate and the debonding along the joint section. In contrast, the newly developed BFLJ induced even transformation in the joint by applying moving stud and high performance material, and resolved APJ's disadvantage of strain concentration. Therefore, it could be seen that the newly developed BFLJ could overcome the disadvantages of APJ and prevent early damage.

• International Journal of Korean Welding Society
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• v.4 no.1
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• pp.53-60
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• 2004

Adhesive-bonded joints are widely used in the industry. Recently, applications of adhesive bonding joints have been increased extensively in automobile and aircraft industry. The strength of adhesive joints is influenced by the surface roughness, adhesive shape, stress distribution, and etc. However, the magnitude of the influence has not yet been clarified because of the complexity of the phenomena. In this study, as the fundamental research of adhesive bonding joints, the effects of adhesive shape and loading speed on bonding strength properties and durability of aluminum to polycarbonate single-lap joints were studied. To evaluate the effect of adhesive shape, several modified shapes were used, and loading speeds were varied from 0.05 to 5mm/min. As a result, the load distribution showed a brittle fracture tendency. The trigonal edged single lap and bevelled lap joints showed the higher strength than the plain single lap, trigonal single lap, joggle lap and double lap joints in same adhesive area. The fractures of trigonal single lap and trigonal edged single lap joints that had the higher strength level were shown as the mixture type of the cohesive and interfacial-failure, mostly joggle lap joints that had the lower strength level were shown as the adhesive-failure.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.12
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• pp.1005-1015
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• 2020

This paper aims to propose a Comprehensive Decision Support Model to evaluate retail companies' financial performance traded on the Vietnam Stock Exchange Market. The financial performance has been examined in terms of the valuations ratios, profitability ratios, growth rates, liquidity ratios, efficiency ratios, and leverage ratios. The data of twelve companies from the first quarter to the fourth quarter of 2019 and the first quarter of 2020 were employed. The weights of 18 chosen financial ratios are calculated by using the Standard Deviation method (SD). Grey Relational Analysis technique was applied to obtain the final ranking of each company in each quarter. The results showed that leverage ratios have the most significant impact on the retail companies' financial performance and gives some long-term investment recommendations for stakeholders and indicated that the Taseco Air Services Joint Stock Company (AST), Mobile World Investment Corporation (MWG), and Cam Ranh International Airport Services Joint Stock Company (CIA) are three of the top efficient companies. The three of the worst companies are Viglacera Corporation (VGC), Saigon General Service Corporation (SVC), and HocMon Trade Joint Stock Company (HTC). Furthermore, this study suggests that the GRA model could be implemented effectively to ranking companies of other industries in the future research.

• International Journal of Highway Engineering
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• v.19 no.3
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• pp.11-18
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• 2017

PURPOSES : This study investigates the effect on concrete pavement accordance with the curing methods in cool weather and supports the best method in the field. METHODS : Two field tests evaluated the curing methods of concrete pavement in cool weather. Firstly, five curing methods were tested, including normal curing compound, black curing compound, bubble sheet, curing mat, and curing mat covered with vinyl. Concrete maturity was compared from temperature data. Secondly, normal curing compound and curing mat with vinyl, which showed the best performance, were compared in terms of maturity and join condition index. RESULTS:From the field tests, it is an evident that curing mat with vinyl accelerated the concrete strength. Therefore, it is possible to conduct saw-cut works in cool weather, which minimizes damage on concrete at joint. CONCLUSIONS : For concrete pavement in cool weather, using curing mat with vinyl as the curing method could overcome the strength delay. Therefore, strength and durability problems on concrete at joint due to cool weather would be fewer in the future.

• Korean Journal of Applied Biomechanics
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• v.33 no.3
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• pp.85-93
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• 2023

Objective: This study examined differences in joint kinematics and movement variability of lower extremity between adolescent athletes with and without lateral ankle sprain (LAS) history during drop vertical jump. Method: Fourteen adolescent athletes with LAS history and 14 controls participated in this study. The independent variable was group while dependent variables were 3D joint kinematics and movement variability of hip, knee, and ankle joint. Ensemble curve analyses were conducted to identify differences in movement strategies between two groups. Results: The LAS group showed that greater eversion during jump phase compared with the control group. Additionally, less movement variability was found in the LAS group during the pre-landing and jump phases in ankle and hip joints compared with the control group. Conclusion: The LAS group may adapt the environmental constraints by reducing the movement variability in ankle and hip joints. However, training programs focusing on recovery of ankle function should be emphasized after LAS because excessive pronation for prevention of LAS during the jump phase may result in reduced performance.

• Journal of Arbitration Studies
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• v.20 no.2
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• pp.173-198
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• 2010

The purpose of this paper is to research on the liability for the space damage and the settlement of the dispute with reference to the space activity under the international space treaty and national space law of Korea. The United Nations has adopted five treaties relating to the space activity as follows: The Outer Space Treaty of 1967, the Rescue and Return Agreement of 1968, the Liability Convention of 1972, the Registration Convention of 1974, and the Moon Treaty of 1979. All five treaties have come into force. Korea has ratified above four treaties except the Moon Treaty. Korea has enacted three national legislations relating to space development as follows: Aerospace Industry Development Promotion Act of 1987, Outer Space Development Promotion Act of 2005, Outer Space Damage Compensation Act of 2008. The Outer Space Treaty of 1967 regulates the international responsibility for national activities in outer space, the national tort liability for damage by space launching object, the national measures for dispute prevention and international consultation in the exploration and use of outer space, the joint resolution of practical questions by international inter-governmental organizations in the exploration and use of outer space. The Liability Convention of 1972 regulates the absolute liability by a launching state, the faulty liability by a launching state, the joint and several liability by a launching state, the person claiming for compensation, the claim method for compensation, the claim period of compensation, the claim for compensation and local remedy, the compensation amount for damage by a launching state, the establishment of the Claims Commission. The Outer Space Damage Compensation Act of 2008 in Korea regulates the definition of space damage, the relation of the Outer Space Damage Compensation Act and the international treaty, the non-faulty liability for damage by a launching person, the concentration of liability and recourse by a launching person, the exclusion of application of the Product Liability Act, the limit amount of the liability for damage by a launching person, the cover of the liability insurance by a launching person, the measures and assistance by the government in case of occurring the space damage, the exercise period of the claim right of compensation for damage. The Liability Convention of 1972 should be improved as follows: the problem in respect of the claimer of compensation for damage, the problem in respect of the efficiency of decision by the Claims Commission. The Outer Space Damage Compensation Act of 2008 in Korea should be improved as follows: the inclusion of indirect damage into the definition of space damage, the change of currency unit of the limit amount of liability for damage, the establishment of joint and several liability and recourse right for damage by space joint launching person, the establishment of the Space Damage Compensation Review Commission. The 1998 Final Draft Convention on the Settlement of Disputes Related to Space Activities of 1998 by ILA regulates the binding procedure and non-binding settlement procedure for the disputes in respect of space activity. The non-binding procedure regulates the negotiation or the peaceful means and compromise for dispute settlement. The binding procedure regulates the choice of a means among the following means: International Space Law Court if it will be established, International Court of Justice, and Arbitration Court. The above final Draft Convention by ILA will be a model for the innovative development in respect of the peaceful settlement of disputes with reference to space activity and will be useful for establishing the frame of practicable dispute settlement. Korea has built the space center at Oinarodo, Goheung Province in June 2009. Korea has launched the first small launch vehicle KSLV-1 at the Naro Space Center in August 2009 and June 2010. In Korea, it will be the possibility to be occurred the problems relating to the international responsibility and dispute settlement, and the liability for space damage in the course of space activity. Accordingly the Korean government and launching organization should make the legal and systematic policy to cope with such problems.

• Journal of the Korean Society for Railway
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• v.19 no.3
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• pp.341-350
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• 2016

Concrete track on railway bridges should be designed to effectively respond to the movement of the superstructure of the bridge. In the design procedure, shear keys are generally placed on the protection concrete layer (PCL) before casting the concrete track so the shear force due to slip between the concrete track and the bridge super-structure can be transferred. In this paper, a nonlinear structural analysis procedure that considers the construction joint has been developed to predict the shear behavior of a shear key. With the developed analysis procedure, it was possible to predict the shear force-shear slip response at the construction joint in a shear key by considering the friction of concrete surface and the dowel action of the rebars. The analysis results showed good agreement with the test results for 4 specimens.