• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.48
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• pp.127-155
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• 2010

The international transactions of capital goods such as industrial plant exports, overseas constructions, and shipbuilding exports, are so huge that tremendous amount of funds are required, and that most of the loans are long-term credits of over five years. In the export of huge capital goods, financing is more crucial than technology itself. Some of the importing countries are developing ones that are politically and economically unstable. Therefore the financing mechanism for these transactions is conclusive in winning these projects. Global financial market instability caused by US sub-prime mortgage financial crisis expanded all over the world, and the international transactions have been decreased due to global credit crisis. This indicates how much influential the financing market is in international transactions. The financing schemes are classified into supplier credit and buyer credit by who provides the financing. A supplier credit is a credit extended by an exporter(seller) to an importer(buyer) as part of an export contract. Cover for this transaction may be extended by an export credit agency('ECA') to the exporter. In a sales contract a seller shall provide fund required to manufacture goods, and in a construction contract a contractor shall provide fund required to complete a construction. A buyer credit is an arrangement in which an exporter enters into a contract with an importer, which is financed by means of a loan agreement A Comparative Study on a Supplier Credit and a Buyer Credit in International Transactions of Capital Goods 155 where the borrower is the importer. In a sales contract a buyer shall provide fund required to manufacture and procure the goods, and in a construction contract an owner shall provide fund required to complete a construction. Therefore an exporter is paid on progressive payment method. A supplier credit and a buyer credit have their own advantages and disadvantages in the respect of the parties respectively. These two financing methods are selectively used considering financing conditions such as funding cost, importer's and/or exporter's financial conditions, importing country's political risk.

• The Journal of Society for e-Business Studies
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• v.11 no.4
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• pp.87-106
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• 2006

Today as the scale of e-commerce constantly expands, the number and the amount of the consumer frauds are also increasing very rapidly, without sufficient levels of systematic support to prevent them. Internet Escrow service is one of the promising payment mechanisms, which guarantees secure electronic trades and payments. Especially, if the real-time product delivery information is available via RFID-based track-and-trace environment, the security and efficiency of the Internet Escrow services would be improved a lot. In this research, proposed a novel approach to integrate EPCglobal Network, which is a de-facto standard for RFID-based information network model, with Internet Escrow services. The proposed service model was implemented in the form of "Integrated Financial Platform", which supports the contracts among trading partners and the payment via Escrow services by being fully integrated with bank systems. Using the implemented EPCglobal Network-based Escrow service system, we would be able not only to shorten the money-flow cycle and to develop new kinds of loan services, but also to overcome the problems of existing Escrow services including the lack of product-related information and the delay of purchasing decisions.

• Journal of Arbitration Studies
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• v.26 no.1
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• pp.89-105
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• 2016

2008 began with the American financial crisis which gave way to the liquidity crisis (Fannie Mae and Freddie Mac) situation in which 'the withdrawal of investment initiated from the insufficiency of the U.S. subprime mortgage loan companies', 'the large size loss situation of the financial company (Bear Stearns) due to the American structured bond insufficiency' and the second half opening part national debt mortgage company. Within the American financial crisis was propagated the crisis of international derivatives. Due to this, the withdrawal of foreign investment progressed in the interior of a country with the considerable. By the end of 2007, the exchange rate fluctuation was absorbed in the domestic financial circle on the belief the potentiality of the domestic financial market had been growing drastically through the expansion of the foreign currency debt according to this and it came to the defence but while the exchange rate jumped up to the dollar shortage according to the international crisis, the small and medium companies making the banks and exchange rate-related derivatives contract were going bankrupt due to the derivatives loss. The small and medium factories establish the bank exchange rate-related derivatives has nose (KIKO), pivot (PIVOT), and snowball (Snowball) etc. at that time and the damage which it is the KIKO grasped at 6 end of the months in 2008 caused by reaches to 1 thousand billion 4 thousand hundred million dollars. Small and medium companies in which the dollar which it has to denounce among small and medium companies bearing the KIKO contract in fact with the Knock-In generation city bank exceeds the amount of sales were known to be 68 enterprises among 480 enterprises. This paper departs in this awareness of a problem and tries to look into the risk factor of the derivatives, including nose and study the essential ring risk management plan of small and medium manufacturer.

• Korean Journal of Agricultural Science
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• v.21 no.2
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• pp.148-167
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• 1994

The gap of the quality of life and living environment between urban and rural area have been widened since the industrialization and urbanization oriented five year economic development plans started in 1963. To mitigate the gaps, Korean government had commenced the cultural(collective) village development projects, as a pilot cases such as Gyeryong and Ucheon projects from 1991. This paper contains first the concepts of cultural village, types of village formation, types of village development, allocation problems of housing sites, procurement of project costs and other problems experienced during constuction of the projects. The main policy guidelines for the successful development of cultural villages are as follows: 1. Cultural village development should be carried out in coincide with the present status of farm household incomes. 2. The countermeasures should be consistant with the general objective of the cultural village development institutionally. 3. Propaganda of the cultural village development in rural area is prerequisite to success the projects. 4. Favourable terms and conditions of credit loans as loan amount of 30 million won with interest rate of 3% per annum and 25 years repayment period including 5 years grace period should be given by the Government. 5. Special benefits in the tax system should be given to rural peoples in the cultural villages. 6. The cultural village development should be classified into two groups as the cultural village development in rurban area and the cultural village development in rural area.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.8
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• pp.103-115
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• 2020

In many countries, the Government enacts tax laws in order to manage tax collection and regulate the macro-economy. According to Noor, Jamaludin, Omar, and Aziz (2013), tax non-compliance is a growing concern because of its negative effects on the state budget. The main objectives of this article are to identify the factors affecting corporate income tax non-compliance of enterprises in Ho Chi Minh City in accordance with the current situation of Vietnamese tax administration. We use several research methods, including the exploitation of information and practical experiences from both taxpayers and tax authorities; with Probit regression model on a sample of 187 enterprises that have been inspected or examined by tax authorities in Vietnam during the period from 2013 to 2017.The article identified eight factors affecting corporate income tax (CIT) non-compliance: (1) working capital/total assets; (2) revenue/total assets; (3) total debt/total assets; (4) loss in the previous year; (5) receivables/revenue; (6) the size of enterprises; (7) tax administrative penalties/tax payable; and (8) business field. In particular, the tax non-compliance was studied as a violation of Vietnamese tax laws by enterprises declaring an insufficient amount of CIT payable to the State budget.

• Journal of Navigation and Port Research
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• v.28 no.8
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• pp.687-697
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• 2004

This paper is aimed to guide ocean-going companies to reasonable decisions and to increase the competitiveness of Korean shipping industry by clarifying the determinants of political costs of ocean-going companies, which only depend for the enormous amount of money to introduce the operating fixed assets, or the vessels, upon the supporting policy from the government or the loan from the related financial institutions. As independent variables of the political costs, 5 elements were settled such as company size(sales, total assets and market share), debit ratio, capital concentration ratio, profitability(operating profit) and marine risk(sales fluctuation). To verify the relations and the effect level between dependent variables and political costs, the Multiple Regression Analysis Model was applied The result of the analysis shows significantly positive relations between size variables and political cost of shipping industry. Moreover, debt ratio and profitability were proved significant related with political costs of shipping industry.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.16 no.9
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• pp.6315-6324
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• 2015

This study analyses the effects of household finances on rental price of apartment in Seoul which play a major role in real estate policy. We estimate VAR models using time series data. Economy variables such as sales price of apartment in Seoul, consumer price index, hiring rate, real GNI and loan amount of housing mortgage, which relate to household finances and influence the rental price of apartment, are used for estimation. The main findings are as follows. In the short term, the rental price of apartment is impacted by economy variables. Specifically, Relative contributions of variation in rental price of apartment through structural shock of economy variables are most influenced by their own. However, in the long term, household variables are more influential to the rental price of apartment. These results are expected to contribute to establish housing price stabilization policies through understanding the relationship between economy variables and rental price of apartment.

• Land and Housing Review
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• v.6 no.4
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• pp.195-213
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• 2015

Recently, there has been changing the housing rental market paradigm structure which has been increased the ratios of partly monthly rental ratios, because of increasing chonsei's price, the preference of monthly rental and the rack of chonsei's supply amount. This study had done a survey of 1,400 people for private and public rental residents by region and housing types during Dec. 2014. According to the result of survey, Market participant prospect strongly to change chonsei to monthly rental market structure and the reason of rising of chonsei's price is the preference of householder's monthly rental because of decreasing interest rate and the rack of chonsei's supply amount. The housing policy's proposal of the stability of low income class's housing and jense's price strongly recommended the expansion of public rental housing supply and the activation of private rental housing, the expansion of chonsei loan, housing boucher etx. The rental market policy for high income class have desired to market autonomy than public side's intervention, on the other hands, the rental market policy for low income class have strongly need to the public side's intervention such as the contiuneous long-term rental housing supply.

• The Journal of Fisheries Business Administration
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• v.1 no.2
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• pp.1-22
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• 1970

Our fisheries protucts industry has developed rapidly during past 10 years ; production was about twice: fihing fleets increased twice in number and 3 times in tonnage ; export was 5 times. Govermment is trying to develop deep sea fisheries in order to surmount the depression of coast fisheries. At present more than 270 deep sea fishing boats are working with superior skill to other country at the South Pacific, the Atlantic, the Indian, and the North Pacific Ocean. Our deep sea fisheries is consisted of the tuna long line and the trawler. The tuna long line of them has 230 crafts in 1969 ana the deep sea trawler has 40 crafts, too. Comparing to 1962, the number of the deep sea fishing boats has been increased highly to 54 times, 7.71 times average per year increasing rate. The rate of the tuna long line to the trawler at the end of 1969 shows 85:15, More than half of them are 100~200 (equation omitted), if we classify them according to (equation omitted) or boat craft. 70% of them has less than 5 years ships age. The Korean Marine Industry Development Corporation has more than 1/3 fishing fleets, with 91 crafts, if We consider it according to corporation. Considering it according to the financial resources, dependence upon foreign loan is as high as 88%. Catches was 74, 450 M/T ($24, 663, 000)at the end of November in 1969 and it was increased to 113.5 times in catch amount and 118 times in value, comparing to those of 1962. Considering it according to the ocean, the order is arranged to the Pacific, the Atlantic, and the Indian Ocean. The average production amount of each craft is 250~400 S/T a year. The result of export took up 1/3 of total fisheries product export with $ 22, 398, 000 at the end of november in 1969. Employee cost of fishing coast is 8% higher than other fishing. The profit is highest in our fisheries. Most of the products except the trawler fishing are sofa at the fishing grounds to the processing company, and they lose much money. They buy most of bait from Japan, giving $8~10 for 1C/S(10kg). Fish price is $390~520 according to the kind of fish for S/T at the fishing grounds, and the rapid frozen fishes brought to Japan are about $ 800 for S/T. There is much difference. in price. Problems 1. Want of self capital. 2. To get the refrigeration boats enough. 3. International Fishing Regulation. 4. To get high price and to secure consuming grounds. 5. To get home-production of bait. 6. To exploit new fishing grounds. 7. To get larger boats. 8. To get mariner enough. When the problems mentioned above are solved, the Deep Sea Fisheries of oun courtry will be developed more largely.

• Environmental and Resource Economics Review
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• v.20 no.4
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• pp.859-882
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• 2011

Since two oil crises in the 1970s, Korea has actively engaged in overseas E&P projects to increase energy diversity as well as its self-development rate of energy resources. Korea's energy self-development rate, an index that indicates the ratio of resources acquired through overseas development compared to direct imports. Currently, Korea is conducting a total of 180 promising overseas oil development projects in 36 countries as of the end of 2010. By now, it has secured a reserve of around 1.63 billion barrels and production of around 176 thousand barrels of oil per day. The self-development rate for oil rose from 2.8% in 2006 to 7.4% in 2010. Not content with these remarkable successes, the korean government is planning to raise its self-development rate in oil to 25% by 2019, by promoting the active participation of Korean companies in overseas oil development projects. This paper is concerned with estimation of the required amount of government subsidies that includes loans and financial support through state-controlled banking institutions in order to reach the target 25% rate by 2019. The estimation results shows that government subsidies of at least 268 million dollars are needed for the current rate of 7.4% in oil. However, the amount sharply increases up to 1.25 billion dollars in 2019 when domestic oil demand rises to 1.02 billion barrels.