• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.47
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• pp.379-402
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• 2010

The Korea Foreign Trade Act(KFTA) was revised the penal provisions of the breach of the Country of Origin Labeling(COOL) recently. The ceiling of penalties became to 5 years for imprisonment, one hundred or three hundred million won for fine. The level of penalties are adjudged quite fair but the amount of penalty should be increased according to the profits from the breach or the nature of crime in some cases. The problems of the penalties are differences between KFTA and other related laws. There are related several laws on the breach of the COOL such as KFTA, Unfair Trade related Law, Customs Law, Consumer Protection Law, Law of COOL on Agricultural and Marine products etc. The penal provisions of the breach of the COOL has more heavier level than other the breach because of the criminal qualities. The problems are the penalty differences between the KFTA and the Unfair Trade Law under the Ministry of Knowledge Economy. The KFTA's penal provisions need to equate with Unfair Trade Law as long as same breaches on the COOL. The government can also consider some policies to rigid enforcement of breaches on the COOL. There are the Country of Origin Tracking system, the RoO Paparazzi System, Make public the names of habitual RoO Violators, Correction Order of breach of the COOL etc.

• Journal of Arbitration Studies
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• v.17 no.1
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• pp.157-181
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• 2007

The commercial relationship between South and North Korea is defined under the concept of economic relation and cooperation. To resolve any dispute that can arise from the trade and investment relations between South and North Korea, 'Agreement on the Procedures to Resolve Commercial Arbitration of South-North Korea' came into force in August 2003. Commercial Arbitration Committee of South-North Korea will be organized as the member lists of the committee were exchanged in July 2006 between South and North Korea. This committee must become a central system to settle the trade and investment disputes between South and North Korea. North Korea's Foreign Economic Arbitration Act was enacted to provide the foreign investors with the safe measures in their investments such as dispute resolution. But this Act can not dispute the trade and investment disputes between South and North Korea. The purpose of this paper is to contribute to the activation of arbitration between South and North Korea by studying Commercial Arbitration Committee of South-North Korea introduced by Agreement on the Procedures to Resolve Commercial Arbitration of South-North Korea and Agreement on the Construction and Operation of Commercial Arbitration Committee of South-North Korea and finding the problems and solutions of Commercial Arbitration Committee of South-North Korea.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.75
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• pp.117-136
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• 2017

Trade finance services have been played an important role in the Korea trade development history since 1960's. These days the trade environment is confronted by the 4th Industrial revolution and new trade protectionism. So we need to improve the Korea Trade Finance Services in order to improve Korea trade volume. Bank of Korea(BOK) also revised the Rule of Korea Trade Finance in 2014 and enlarged the trade fund for commercial banks where they handle the trade finance to small and medium enterprises(SME) in 2016. This article handle the current state and problems of Korea trade finance services and suggest the improvement measures as follows; First, the commercial banks, which handle trade finance fund, should improve the customs and practice of judge loan for SMEs. Second, the export volume counting rule for trade loan should harmonize between BOK's Rule and Foreign Trade Management Regulation under the Foreign Trade Act. Third, the processing trade and intermediate trade also can use the trade finance like other trade. Fourth, Trade finance should be in balance between export and import finance to defend the new protectionism. It means that the trade finance should expand to import in the certain conditions. Lastly, the related trade promotion agencies and their employees should improve their skills and abilities for handling trade finance.

• Journal of Arbitration Studies
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• v.31 no.1
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• pp.107-127
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• 2021

Vietnam is an important country with many trade transactions with the Republic of Korea. Arbitration is a method of resolving disputes that can arise with the increase in trade transactions. It is essential to study the legal system and precedents of Vietnam on the approval and enforcement of foreign arbitral awards. Such is the case because the law in Vietnam and the court's position on the approval and enforcement of foreign arbitration awards issued by the courts depend on the possibility of realizing the parties' rights concerning their disputes. Therefore, it is of great value both theoretically and practically to analyze the exact differences between approval and the denial of approval. Vietnam has enacted the Commercial Arbitration Act, which replaces the previous Commercial Arbitration Decree and creates an arbitration-friendly environment that meets international arbitration standards. Regarding the approval and execution of foreign arbitration awards, the Commercial Arbitration Act, the Civil Procedure Act, the Civil Execution Act, and the Vietnam Foreign Arbitration Awards Approval and Enforcement Ordinance are regulated. Following these laws and regulations, the reasons for the approval, enforcement, and rejection of the arbitral award are specified. In accordance with these laws and inappropriate arbitration agreements, an arbitral award beyond the scope of its right of disposition, an arbitral tribunal, or the concerned parties could not be involved in a proceeding or an arbitral award if the involved party does not have an opportunity to exercise its rights lawfully. If the state agency in the forum does not recognize the arbitral award, the dispute is not subject to arbitration under Vietnamese law, or the arbitral award does not conform to the basic principles of Vietnamese law, the parties are not bound, and the foreign arbitration award is rejected for approval and execution.

• International Commerce and Information Review
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• v.8 no.1
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• pp.125-141
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• 2006

It is no unnecessary to tell the importance of foreign trade in Korea economics. Nevertheless, government's direct support is impossible owing to WTO's regulation. Accordingly, government have brought focus into trade facilitation as paperless trade. e-Trade document repositary building by government's budget and private sector's cooperation is a part of e-Trade platform and necessary function in connection with relay and certification of e-Trade document. This study examined the estimated operational problems of e-Trade document repositary as compared Licensed Electronic Document Repositary. Firstly, the operator of e-Trade document repositary undertake multiple role and function as Licensed Certification Authorities(e-sign Act), Licensed Electronic Document Repositary(Framework Act on Electronic Transaction) etc. Secondly, sufficient levy that meet operating cost of the e-trade document is the key point of e-Trade document repositary's success, because additional budget invest in that operation is too hard to do. Thirdly, the operator of the e-Trade document repositary have to keep fairness, objectivity and transparency because the operational right is exclusive.

• Journal of Arbitration Studies
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• v.17 no.2
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• pp.101-124
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• 2007

The legal systems and open-door policies to foreign affairs in North Korea have been followed by those of China. Whereas an arbitration system of South Korea accepted most parts of UNCITRAL Model Law, North Korea has succeeded to an arbitration system of a socialist country. China, under the arbitration system of socialist country, enacted an arbitration act reflected from UNCITRAL Model Law for keeping face with international trends. We have used these three arbitration system as a tool for analyzing an arbitration system in North Korea. With an open-door policy, North Korea and China enacted an arbitration act to provide a legal security. Therefore, the core parts of arbitration system in North Korea and China are based on a socialist system while those of South Korea is on liberalism. So, North Korea and China enacted an arbitration act on the basis of institutional arbitration, on the other side, South Korea is based on ad-hoc arbitration. Because of these characters, in terms of party autonomy, it is recognized with the order as South Korea, China and North Korea. Also North Korea enacted separate 'Foreign Economic Arbitration Act' to resolve disputes arising out of foreign economies including commercial things and investments. There are differences in arbitration procedures and appointment of arbitrators : South Korea recognizes parties' autonomy, however parties should follow the arbitration rules of arbitration institutes in North Korea and China. According to an appointment of arbitrators, if parties fail to appoint co-arbitrators or chief arbitrators by a mutual agreement, the court has the right to appoint them. In case of following KCAB's rules, KCAB secretariats take a scoring system by providing a list of candidates. A party has to appoint arbitrators out of the lists provided by arbitration board(or committee) in North Korea. If a party may fail to appoint a chief arbitrator, President of International Trade Arbitration Board(or Committee) may appoint it. In China, if parties fail to appoint a co-arbitrator or a chief arbitrator by a mutual agreement, Secretary general will decide it. If a arbitral tribunal fails to give a final award by a majority decision, a chief arbitrator has the right for a final decision making. These arbitration systems in North Korea and China are one of concerns that our companies take into account in conducting arbitration procedures inside China. It is only possible for a party to enforce a final arbitral award when he applies an arbitration inside North Korea according to International Trade Arbitration Act because North Korea has not joined the New York Convention. It's doubtful that a party might be treated very fairly in arbitration procedures in North Korea because International Trade Promotion Commission controls(or exercises its rights against) International Trade Arbitration Commission(or Board).

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.57
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• pp.221-241
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• 2013

Country of origin is very important in terms of consumers right to know, protection of producer, national finance and tariff preference etc. The principal issues related to country of origin are breaches of origin mark, determination of origin of OEM products, domestic products using imported raw materials, exports products, and fairness of penalties. This study focus origin mark issues on key components and set products which have not been treated so far. First, Origin mark issues on key components need to introduce multiple countries of origin for the same products. Some specific products, which are considered important key components or materials, has to mark multiple country of origin in terms of portion and significance. Next, Origin mark issues on set products need to expand the objects from 15 listed items of Korea Foreign Trade Act to all items of HS tariff schedules of Korea Customs Act. A set products which below 15% of components can mark single country of origin like FTA agreement such as Korea-EU FTA, Korea-EFTA, Korea-US FTA and Korea-Peru FTA.

• Journal of the Korea Society of Computer and Information
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• v.28 no.12
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• pp.267-279
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• 2023

The objective of this paper is to examine the legal framework governing the import and export of grain in China, a pivotal factor in shaping policies aimed at stabilizing South Korea's foreign trade and grain imports. Through this analysis, it is observed that China's foreign trade system, governed by the Foreign Trade Act, exhibits a notable absence of clear delineation regarding the scope and responsibility for the delegation of authority to foreign trade management agencies. In contrast, Korea's Foreign Trade Law, along with its enforcement decree and management regulations, explicitly outlines the scope and responsibilities pertaining to the delegation of authority to foreign trade management. However, in the case of China's revised Foreign Trade Law, there exists a lack of precision in specifying the delegation of authority to foreign trade management. This creates a potential for discretionary intervention by local governments or other administrative bodies. While China's legal system concerning grain imports and exports aligns with WTO regulations in its institutional framework, attention is warranted due to the vagueness in laws or regulations, as well as the presence of irrational and non-transparent procedures during system operation. As conclusion remarks, while China's legal structure related to grain imports and exports conforms to WTO guidelines overall, the identified issues such as legal ambiguity and non-transparent procedures underscore the need for caution. To safeguard against potential challenges in future trade interactions with China, proactive measures are crucial to address these concerns.

• Journal of Navigation and Port Research
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• v.31 no.2
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• pp.151-157
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• 2007

After World Trade Center's Terror in 2001 and promulgating Maritime Transportation Security Act (MTSA, 2002) and Security and Accountability For Every Port Act (SAFE Port Act, 2006) in the United States, most of the attention on security of international transportation including marine carrier and facility has focused increasingly. Inspection stations in foreign seaport terminal including Busan, South Korea, have been installed by Container Security Initiative (CSI) and Customs Trade Partnership against Terrorism (C-TPAT). The inspection station, however, may directly and indirectly affect delay of truck turnaround time in the seaport, especially high and severe level of security. This paper was analysed a risk for the additional average delay of truck turnaround time incurring by the inspection station under the all level of security, C-TPAT and CSI. As a result of this risk analysis, the higher weighted inspection time based on raising security level, the less number of trucks to be inspected, which will derive high delay in the inspection station.

• American Studies
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• v.44 no.2
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• pp.35-65
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• 2021

U.S. lawmakers tend to organize sub-party groups focusing on regions, ideologies, policies, and foreign affairs. Examples include the conservative Freedom Caucus loyal to Trump and the Congressional Black Caucus promoting the interests of African Americans. Then how do these legislative groups affect the making of U.S. foreign policy? Paying special attention to the Korea caucus in U.S. Congress, we have analyzed the sources and processes of congressional caucus and foreign policy and have learned that structures and activities of the caucuses differ from one another. The Korea caucus seems to be a bipartisan group that focuses on issues such as trade, travel, and troubles provoked by Pyongyang. However, the Korea caucus is not really a solid voting bloc for policy alternatives; it is instead more of a constituency-oriented legislative group that prioritizes local interests. This research underscores the need for systematic and comprehensive study of U.S. legislative politics and foreign policy.