• Ocean and Polar Research
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• v.45 no.1
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• pp.11-22
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• 2023

For the commercial development of deep-sea mineral resources, the International Seabed Authority is engaged in wide ranging discussions to establish the Regulations on Exploitation. The core issue of the Regulations on Exploitation is how to protect the marine environment along with the royalty system that distributes the profits from such development. The United Nations Convention on the Law of the Sea stipulates the protection of the marine environment in Part 12 (Articles 192-237) for the preservation of the marine environment, and in the 1994 Implementation Agreement, the protection of the marine environment at the stage of application for approval of the plan of work together with the Regulations on Exploration for the protection of the marine environment. For this purpose, certain obligations are imposed on the applicants. In the Regulations on Exploitation, financial systems such as environmental performance guarantee, insurance, and environmental compensation funds, which were not found in the Regulations on Exploration, are added to further specify the measures for marine environment protection generally stipulated in the 1982 Law of the Convention or 1994 Implementation Agreement. Regarding the financial system for marine environment protection, the Marine Environmental Protection and Conservation Informal Working Group meeting is revising the purpose of the environmental compensation fund. Among these financial system elements, it is judged that there is a possibility that the environmental performance guarantee and insurance may overlap considerably, and it is also thought that the establishment of the environmental compensation fund can also provide a substantial sum of money that will meet the purpose of the compensation fund in terms of securing its financial resources. In this paper, the question is posed as to whether or not this can be accomplished. In this respect, this paper examines the environmental performance guarantee, insurance, and environmental compensation fund, which are necessary for the protection of the marine environment of the deep seabed, but which can impose appropriate obligations on contractors for the commercial development of deep seabed mineral resources. At the same time as figuring out how it is operated in relation to relevant domestic laws, I would like to propose a plan to reflect the implications derived from the domestic law operation process in the Regulations on Exploitation.

• Journal of Korea Trade
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• v.25 no.2
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• pp.152-177
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• 2021

Purpose - This study analyses the excepted requirement and burden of proof of the carrier due to unseaworthiness through comparison between the marine transport contract and marine insurance contract. Design/methodology - This study uses the legal analytical normative approach. The juridical approach involves reviewing and examining theories, concepts, legal doctrines and legislation that are related to the problems. In this study a literature analysis using academic literature and internet data is conducted. Findings - The burden of proof in case of seaworthiness should be based on presumed fault, not proved fault. The burden of proving unseaworthiness/seaworthiness should shift to the carrier, and should be exercised before seeking the protections of the law or carriage contract. In other words, the insurer cannot escape coverage for unfitness of a vessel which arises while the vessel is at sea, which the assured could not have prevented in the exercise of due diligence. The insurer bears the burden of proving unseaworthiness. The warranty of seaworthiness is implied in hull, but not protection and indemnity policies. The 2015 Act repeals ss. 33(3) and 34 of MIA 1906. Otherwise the provisions of the MIA 1906 remain in force, including the definition of a promissory warranty and the recognition of implied warranties. There is less clarity about the position when the source of the loss occurs before the breach of warranty but the actual loss is suffered after the breach. Nonetheless, by s.10(2) of the 2015 Act the insurer appears not to be liable for any loss occurring after the breach of warranty and before there has been a remedy. Originality/value - When unseaworthiness is identified after the sailing of the vessel, mere acceptance of the ship does not mean the party waives any claims for damages or the right to terminate the contract, provided that failure to comply with the contractual obligations is of critical importance. The burden of proof with regards to loss of damage to a cargo caused by unseaworthiness is regulated by the applicable law. For instance, under the common law, if the cargo claimant alleges that the loss or damage has been caused by unseaworthiness, then he has the burden of proof to establish the followings: (i) that the vessel was unseaworthy at the beginning of the voyage; and that, (ii) that the loss or damage has been caused by such unseaworthiness. In other words, if the warranty of seaworthiness at the inception of the voyage is breached, the breach voids the policy if the ship owner had prior knowledge of the unseaworthy condition. By contrast, knowingly permitting the vessel to break ground in an unseaworthy condition denies liability only for loss or damage proximately caused by the unseaworthiness. Such a breach does not, therefore, void the entire policy, but only serves to exonerate the insurer for loss or damage proximately caused by the unseaworthy condition.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.34 no.4
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• pp.11-16
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• 2011

Information of freight tracking and tracing is one of core elements in logistics point of view. We can monitor the vehicle or vessel where freights are loaded and get the in-transit data via GPS. However, security problem exists after the shipments are unloaded. RFID is well utilized for securing the container which products are stuffed into. International standard organization sets relevant specification and e-seal appears to be at issue. The paper investigates current status of corresponding technology and proposes the policy for development of logistics industry.

• Journal of Korean Institute of Industrial Engineers
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• v.31 no.4
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• pp.297-302
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• 2005

Kopzon and Weiss adopted the notion of push-pull into the queueing system recently. We extend this queueing system to the ($N_1,N_2$)-policy version such that the original system corresponds to the special case $N_1=N_2=1$. For the extended system, we perform the cycle analysis and obtain the PGF of the stationary number of customers in the system.

• International Area Studies Review
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• v.12 no.2
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• pp.277-295
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• 2008

Insurable value agreed by the parties shall be presumed specified at the time of the accident. It is nevertheless provided that where agreed value considerably exceeds certain amount evaluated at the time of insured accident, the amount shall be insurable value. It casts doubt on what constitutes such an excess in valuation in marine insurance. Because of the relatively short periods and less volatile economies, maritime insurance, with the statutory insurance value, has deemed insurable value conclusive. In other ways, the provision of default rule substitutes the amount evaluated at the time of insured accident for statutory insurance value. However, over-valuation of agreed value determined by the comparison of statutory insurance value leads to non sequitur in valued policy. Maritime insurance, in the case of over-valuation of agreed value, construes certain amount evaluated at the time of insured accident as insurable value. Accordingly, beyond the application of statutory insurance value, the amount should be considered for over-valuation of agreed value.

• The Korean Journal of Air & Space Law and Policy
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• v.21 no.1
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• pp.169-189
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• 2006

In 2007, KSLV(Korea Small Launching Vehicle) that we made at Goheung National Space Center is going to launch and promotes of our space exploration systematically and 'Space Exploration Promotion Act' was enter into force. 'Space Exploration Promotion Act' article 3, section 1, as is prescribing "Korean government keeps the space treaties contracted with other countries and international organizations and pursues after peaceful uses of outer space." The representative international treaties are Outer Space Treaty (1967) and Liability Convention (1972) etc. In Liability convention article 2, "A launching State shall be absolutely liable to pay compensation for damage caused by its space object on the surface of the earth or to aircraft in flight. The important content of the art. 2 is the responsible entity is the 'State' not the 'Company'. According by Korean Space Exploration Act art. 14, person who launches space objects according to art. 8 and art. 11 must bear the liability for damages owing to space accidents of the space objects. Could Korean government apply the Products Liability Act which is enter into force from July 1, 2002 to space launching person? And what is the contact type between Korea Aerospace Research Institute(KARl) and Russia manufacturer. Is that a Co-Development contract or Licence Product contract? And there is no exemption clause to waive the Russia manufacturer's liability which we could find it from other similar contract condition. If there is no exemption clause to the Russia manufacturer, could we apply the Korean Products Liability Act to Russia one? The most important legal point is whether we could apply the Korean Products Liability Act to the main component company. According by the art. 17 of the contract between KARl and the company, KARl already apply the Products Liability Act to the main component company. For reference, we need to examine the Appalachian Insurance co. v. McDonnell Douglas case, this case is that long distance electricity communication satellite of Western Union Telegraph company possessions fails on track entry. In Western Union's insurance company supplied to Western Union with insurance of $ 105 millions, which has the satellite regard as entirely damage. Five insurance companies -Appalachian insurance company, Commonwealth insurance company, Industrial Indemnity, Mutual Marine Office, Northbrook Excess & Surplus insurance company- went to court against McDonnell Douglases, Morton Thiokol and Hitco company to inquire for fault and strict liability of product. By the Appalachian Insurance co. v. McDonnell Douglas case, KARl should waiver the main component's product liability burden. And we could study the possibility of the adapt 'Government Contractor Defense' theory to the main component company.

• Ocean and Polar Research
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• v.38 no.3
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• pp.225-234
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• 2016

This project sought to conduct an economic feasibility study regarding the commercial production of bio-hydrogen by the marine hyperthermophilic archaeon, Thermococcus onnurineus NA1 using carbon monoxide-containing industrial off-gas. We carried out the economic evaluation of the bio-hydrogen production process using the raw material of steel mill by-product gas. The process parameter was as follows: $H_2$ production rate was 5.6 L/L/h; the conversion of carbon monoxide was 60.7%. This project established an evaluation criterion for about 10,000 tonne/year. Inflation factors were considered as 3%. The operating costs were recalculated based on prices in 2014. The total investment required for development was covered 30% by capital and 70% by a loan. The operation cost for the 0.5-year test and integration, and the cost for the first three months in the 50% production period were considered as the working capital in the cost estimation. The costs required for the rental of office space, facilities, and other related costs from the construction through to full-scale production periods were considered as continuing expenses. Materials, energy, waste disposal and other charges were considered as the operating cost of the development system. Depreciation, tax, maintenance and repair, insurance, labor, interest rate charges, general and administrative costs, lubrication and miscellaneous expenses were also calculated. The hydrogen price was set at US$ 4.15/kg for the economic evaluation. As a result, the process was considered to be economical with the payback period of 6.3 years, NPV of 18 billion Won and IRR of 26.7%.

• The Korean Journal of Archival Studies
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• no.15
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• pp.219-262
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• 2007

Business organization have developed in close association with the society afterward. Moreover, under capitalism business archives, though they are created in private sector, have started to have public characteristics and be used in public domain beyond internal use in business organization. Records and Archives management at a corporate level increasingly become indispensible. Business organization can use archive management to improve job efficiency and customer service and to facilitate legal matters, marketing, advertising, property management, personnel management and publicity. Additionally, They can secure corporate identity and social reliability as well as transparency in management. This is turn helps secure corporate competitiveness to play as a medium for creating new profit, which will enhance corporate brands. The records and Archives management, which recently kicks off among business organization, are to collect scattered archives and seek systemic management through archives management systems. This study present ways to collect archives scattered before archives management systems were adopted according to archives management. As a prior investigation, the scope and characteristics of business archives are defined. Visit to business organization to collect data and interview with officials responsible were carried out as a preliminary investigation to conduce acquisition policy. Based on the results of the investigation, acquisition policy of Meritz was conducted. into internal and external collection activities, event collection activities. Value appraisal and display appraisal of archives were established as a appraisal policy for efficient management and utilization of collected business archives. This study takes the case of Metitz Fire & Marine Insurance Co, Ltd (Meritz) as a example to present ways to manage business archives specifically.

• Journal of the Korean Society for Marine Environment & Energy
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• v.14 no.1
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• pp.51-64
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• 2011

Carbon dioxide Capture and Storage (CCS) is one of the key players in greenhouse gas (GHG) reduction portfolio for mitigating climate change. CCS makes simultaneously it possible not only to reduce a huge amount of carbon dioxide directly from the emission sources (e.g., coal power plant) but also to maintain the carbon concentrated-energy and/or industry infrastructure. Internationally, the United Nations Framework Convention on Climate Change (UNFCCC) is dealing the agenda for considering the possibility of including CCS project as one of Clean Development Mechanism (CDM) projects. Despite its usefulness, however, there are the controversies in including CCS as the CDM project, whose issues include i) non-permanence, including long-term permanence, ii) measuring, reporting and verification (MRV), iii) environmental impacts, iv) project activity boundaries, v) international law, vi) liability, vii) the potential for perverse outcomes, viii) safety, and ix) insurance coverage and compensation for damages caused due to seepage or leakage. In this paper, those issues in considering CCS as CDM are summarized and analyzed in order to suggest some considerations to policy makers in realizing the CCS project in Korea in the future.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.13
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• pp.411-437
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• 2000

It is unsafe to attempt a complete definition of the expression 'perils of the seas', because in practice the question 'what is a peril of the seas' is inextricably woven up with the further question, 'was the loss proximately caused by the sea peril ?' Such casualties as stranding, collision and heavy weather appear with monotonous regularity in the daily reports, and are the obvious examples. However, what can be included in the term 'perils of the seas' seems to be inexhaustible, although most circumstances appear to have been covered by the Courts. Two cases heard in 1887 were instrumental in defining perils of the seas. In The Xantho Lord Herschell made the following remarks: "The term ... does not cover every accidents or casualty which may happen to the subject matter of insurance on the sea. It must be a peril 'of' the sea. Not every loss or damage of which the sea is the immediate cause is covered by these words. They do not protect, for example, against that natural and inevitable action of the winds and waves which results in what may be described as wear and tear. There must be some casualty, something which could not be foreseen as one of the necessary incidents of the adventure. The purpose of the policy is to secure an indemnity against accidents which may happen, not against events which must happen. ... If a vessel strikes upon a sunken rock in fair weather and sinks, this is a loss by perils of the sea."