• THE INTERNATIONAL COMMERCE & LAW REVIEW
• /
• v.57
• /
• pp.3-34
• /
• 2013

In the international sales contract, long-term contracts often face hardship in fulfilling the original contract terms by relevant parties due to rapid change and uncertainty of political and economic circumstance. In this case, party who faces hardship of fulfillment terminates contract or demands adaptation to contract condition but if opponent doesn't accept this, it proceeds to commercial dispute needing legal interpretation. Generally it is wise to set forth governing law in contract between parties in the case of international contract, for legal stability. One of universal governing law which relevant parties select by agreement to solve economical hardship of fulfillment is PICC. PICC defines the hardship in detail for renegotiation on following hardship of fulfillment unexpected. In the case of failing renegotiation, Court(arbitral tribunal) conducts termination to contract or adaptation to contract condition through arbitration or mediation. In conclusion, when signing international long-term contract, it is desirous to handle dispute effectively by inserting provisions which can deal with economical hardship in contract or defining PICC as governing law in the case of hardship incurred. It is because it is realistic to handle dispute smoothly to the extent that both parties can be satisfied in the case of hardship incurred, though international contract should be fulfilled.

• The Journal of Asian Finance, Economics and Business
• /
• v.7 no.10
• /
• pp.369-376
• /
• 2020

Credit capital from customers' savings deposit (CSD) of banks has an important meaning in the business activities of the banking industry. There are many factors that influence the CSD satisfaction with banks. Certain changes have been made when there are fluctuations due to COVID-19. The article is based on an analysis assessing the factors that influence the CSD satisfaction of Vietnamese commercial banks in the context of COVID-19. The authors use a sample of 1,639 CSD. The results show that there are three variables that positively affect CSD satisfaction, including legal provisions of the Central bank (Legal), policies and mechanisms of commercial banks (Policy), and products of commercial banks (Product). Accordingly, in order to contribute to strengthening this capital mobilization of savings deposit, the Central bank of Vietnam needs to play a pivotal role in the regulations of the banking system to ensure its stability; control well monetary policy, interest rates, and inflation to keep a stable position in the economy; and provide timely financial support packages to enhance the confidence of CSD. Moreover, Vietnamese commercial banks need flexible policies and mechanisms to stimulate CSD; strengthen support on deposit rates for CSD; and diversify products to easily adapt to each CSD's situation.

• Proceedings of the CALSEC Conference
• /
• 1998.10a
• /
• pp.45-55
• /
• 1998

A legal system is designed to regulate social phenomena appropriately minimizing potential disputes arising out of conflicts with social phenomena and to seek for stability of legal life. The development of information technology and network infrastructure changed way of communication significantly, which realized the new transactional concepts, such as EDI(Electronic Data Interchange), Commerce At Light Speed(CALS) and Electronic Commerce(EC). However, current legal systems of each nation, which are based upon the paper document, do not seem to accomodate such types of emerging transactions. In that context, we can observe many issues which cannot be resolved among the parties involved in such transactions even under the several sui-generis statutes regarding EDI in Korea. Based upon the recognition of the above circumstances, this paper will browse legislative efforts in advanced countries and international institutions like UNCITRAL, and WTO. Also this will cover outstanding issues in relation with the deployment of electronic commerce in Korea and suggest what should be revisited for better accommodation of the changes going on.

• Journal of the Korea Society of Computer and Information
• /
• v.17 no.8
• /
• pp.135-144
• /
• 2012

The Preferred Right that recognized in Housing Lease Protection Act Article 8 Paragraph 1 is a legal security right. The case of a small tenant whose security deposit is less than a specific sum of money to lease housing, he can get preferential payment about his a specific sum of money of security deposit in an auction procedure. Like this the Preferred Right can protect the homeless commoner also it ignores the existing legal system. But the Preferred Right has the right function that contribute to stability of homeless people's housing, on the other hand, it has the adverse function that damages to several interested parties in an auction procedure by using legal preferential protection. So, about these problems, the improvement way will propose in this study.

• Korean Journal of Social Welfare
• /
• v.61 no.3
• /
• pp.5-28
• /
• 2009

The purpose of this study is to examine the legal attribute of subsidiarity principle on the National Basic Livelihood Security Act. The principle of subsidiarity is applied to the regulation for 'fundamental principle of benefits' on the National Basic Livelihood Security Act, therefore it functions as legal theory. However, due to its both positive and negative characteristics it becomes to be interpreted and applied in a different meaning depending on the normative characteristics of related laws. In brief, as the passive meaning of subsidiarity principle guarantees the freedom of civilian by limiting national power, it is reasonable in social control norm like criminal law. However, as nation's active role of intervention and support is required in order to protect basic standard of human life according to the principle of Social(welfare)State, the active meaning of subsidiarity principle is reasonable in Social Security law, especially in public assistance. Hence, the principle of subsidiarity on the National Basic Livelihood Security Act becomes to realize, justice, goal fitness and legal stability when it is operated by system with interpreting in an active meaning.

• Transactions of the Korean hydrogen and new energy society
• /
• v.34 no.2
• /
• pp.91-99
• /
• 2023

Participation in power trading using surplus power is considered a business model active in the domestic energy trade market, but it is limited only if the legal requirements according to the type, capacity, and use of the facilities to be applied for are satisfied. The hydrogen residential demonstration model presented in this paper includes solar power, energy storage system (ESS), fuel cell, and water electrolysis facilities in electrical facilities for private use with low-voltage power receiving system. The concept of operations strategy for this model focuses on securing the energy self-sufficiency ratio of the entire system, securing economic feasibility through the optimal operation module installed in the energy management system (EMS), and securing the stability of the internal power balancing issue during the stand-alone mode. An electric facility configuration method of a hydrogen residential complex demonstrated to achieve this operational goal has a structure in which individual energy sources are electrically connected to the main bus, and ESS is also directly connected to the main bus instead of a renewable connection type to perform charging/discharging operation for energy balancing management in the complex. If surplus power exists after scheduling, participation in power trading through reverse transmission parallel operation can be considered to solve the energy balancing problem and ensure profitability. Consequentially, this paper reviews the legal regulations on participation in electric power trading using surplus power from hydrogen residential models that can produce and consume power, gas, and thermal energy including hybrid distributed power sources, and suggests action plans.

• The Korean Society of Law and Medicine
• /
• v.18 no.1
• /
• pp.3-35
• /
• 2017

The Supreme Court of Korea first admitted compensation for damages caused by breach of informed consent in 1979. From then on, specific details of informed consent are shaping up and developing through court precedents. The duty of informed consent of doctor is based on article 10 of the Constitution and medical contract, and is expressly prescribed Article 12 of Framework Act on Health and Medical Services and other acts and regulations. By the way, the regulations about duty of informed consent of doctor have been established in Medical Law revised on December 20, 2016, and the revised Medical Law will be implemented on June 21, 2017. According to the revised Medical Law, medical practices subject to description and consent are operation, blood transfusion and general anesthesia that threaten to cause serious harm to human life or to the body. When performing these medical activities, the written consent must be explained and agreed upon in advance. If a doctor violates the law, he will incur fines of less than 3 million won. Comparing and viewing the revised Medical Law and existing legal principles about the duty of informed consent, we can confirm that there is a substantial difference between the two parties. Accordingly, despite the implementation of the revised medical law, the existing legal principles are unlikely to be affected. However, from the perspective of legal uniformity and stability, it is undesirable that legal judgments on the same issues differ from each other. The revised Medical Law about informed consent needs to be reformed according to existing legal principles. And, as in the case of Germany, it is desirable to include the matters concerning informed consent in the civil code.

• Transactions of the Korean Society of Mechanical Engineers A
• /
• v.38 no.11
• /
• pp.1283-1290
• /
• 2014

Recently, a wide variety of simulation techniques such as structure analysis and structure-fluid interaction analysis are being employed in the field of forensic engineering for resolving the problem of legal liability for accidents and disasters. In this study, we performed a forensic engineering investigation of a sinking accident of a DCM (deep cement mixing) vessel. The accident vessel was built as a dedicated SCP (sand compaction pile) vessel at the time of vessel building, and the DCM vessel was structurally modified, e.g., by increasing the leader height and constructing for leader expansion, without a stability review. To determine the effects of expansion and modification of structures in this sinking accident, structural stability evaluation was performed using commercial software for structural analysis, ADINA software. Through an analysis and comparison of simulation results obtained using ADINA software with the results of the structural modification and expansion, we could determine the exact cause of the sinking accident of the DCM vessel.

• Strategy21
• /
• s.33
• /
• pp.148-177
• /
• 2014

The regional security and stability in Northeast Asia has become more complicated because of a sudden establishment of China's Air Defense Identification Zone (ADIZ) on 23 November 2013. One dimensional conflicts on the territorial sovereignty over the islands between the regional States has developed into the two dimensional conflicts like maritime delimitations among the States concerned since they have all ratified the 1982 United Nations Convention on the Law of the Sea which adopts the 200 nautical mile Exclusive Economic Zone regime. Moreover, due to the notion of the outer limit of the continental shelf, the conflicts have developed into three dimensional ones in order to acquire more natural resources even in the seabed. To make matters worse, such three dimensional conflicts have expanded to the airspace as well. The paper will analyze what implications the sudden declaration of China's ADIZ have for the regional security in Northeast Asia from the perspectives of public international law. To this end, the paper 1) starts with the debates on the legal nature of the ADIZ, 2) identifies the Chinese government's political motives for the establishment of the ADIZ over the East China Sea, 3) assesses the responses of the regional States and the USA to the China's establishment of the ADIZ, and then 4) discuss what implications the overlapped ADIZ of the three key States in the region have for the regional security and stability.

• Journal of Korea Society of Digital Industry and Information Management
• /
• v.13 no.3
• /
• pp.1-9
• /
• 2017

Recently, Bitcoin which is digital currency and cryptocurrency is getting worldwide attention since Bitcoin has an ability to replace legal tender unlike other existing cyber currency. Especially, most Bitcoin trading is done between two traders such as P2P method and it does not require a third-party to make sure reliability and it records every transaction details, so it is more transparent then traditional financial trade, so the number of users is increasing. However, Bitcoin, which has been recognized for transparency, confidentiality and stability among traders has recently been threatened by illegal transactions such as money laundering and the attack on the exchange. These threats to Bitcoin are becoming social problems. At first, it seems that most of the digital currency is difficult to get hacked due to the Blockchain technology. However, threats such as digital money leaks by user account hacking and paralyzing the servers are increasing. In this paper, it will examine the features of the Bitcoin and the threatening elements to secure marketability of digital currency such as Bitcoin and receive more interest from public in domestic. The paper will examine the problems of Blockchain technology on speculative transactions and fraudulent behavior by analyzing the problems of Bitcoin transaction. Lastly, it will propose ways to make transparent and secure digital currency transactions.