• Proceedings of the Korean Operations and Management Science Society Conference
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• 2003.11a
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• pp.334-337
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• 2003

In this paper we presents a centralized model for a long-term replenishment contract model in the supply chain system. We assume ARIMA demand process for reflecting more realistic demand data and present a solution which minimizes total system cost of the contract model between single supplier and buyer under centralized system. From the result of experiments we can observe that the proposed model generate better result than the decentralized model.

• Management Science and Financial Engineering
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• v.11 no.2
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• pp.1-17
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• 2005

In this article we consider a supply chain consisting of a risk-sensitive manufacturer and a riskneutral retailer. The manufacturer maximizes her individual expected profit by designing a supply chain coordinating returns contract (SCRC) that consists of (i) a channel coordinating returns policy that maximizes the supply chain joint expected profit, and (ii) a profit sharing arrangement that gives the retailer an expected profit only slightly higher than that in the no returns case so that it is just enough to induce the retailer to accept the SCRC. Thus, the manufacturer captures as high a percentage as possible of the jointly maximum supply chain profit. However, this contract can sometimes lead to the manufacturer's resulting realized profit being lower than that in the no returns case when demand is lower than expected. In this context, even though profit is sufficiently attractive on average, will the risk-sensitive manufacturer ever consider applying a SCRC? Our research raises this question and focuses on designing a SCRC that can significantly increase the probability of the manufacturer's resulting realized profit being at least higher than that in the no returns case.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.64
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• pp.155-185
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• 2014

Liability for the manufacture or supply of defective products can arise in two principle ways, in tort and in contract. English law has long regarded shipbuilding contract as agreement for the sale and purchase of goods. The consequence of which is that unless the Buyer and Builder agree otherwise, terms will automatically be implied into the contract between them as to the quality and performance of the completed vessel. The same principle applies to sub-contracts allied to the shipbuilding contract. On the other hand, one case decisions established that ".... a contract to build a ship, though a contract of sale of goods, has also some characteristics of a building contract", Recently the liability of a manufacturer in tort for physical damage i.e. personal injury and damage to property other than alleged to be defective is now well settled in most countries. Accordingly the Builder may face third party claims in tort more regularly than they have in the past, if the statutory implied terms have not been expressly excluded in contract. In such circumstances, it is necessary for the Builder to be prepared with counter measures to secure the stability of the vessel from its design development, building process, delivery and operation etc. The purpose of this paper is, from the case of "MSC Carla", to review product liability, jurisdiction and the initial date of extinctive prescription, then to suggest counter measures to the Builder.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.16 no.9
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• pp.5836-5842
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• 2015

We examine the effect of Corporate Social Responsibility activities on the value of corporations through the supply contracts with customers, one of important stakeholders. The analyses using KEJI index and supply contract announcements show that the likelihood of involving in a supply contract is lower and the announcement return is lower when CSR performance is higher. However, this negative effect of CSR is different across the level of CSR performance. The negative effects of CSR do not exist in the firms with highest level of CSR performance while most of the negative effects are concentrated in the firms with mediocre performance in CSR. These results indicate that market recognizes not best CSR activities but mediocre CSR activities as sacrifice of shareholder value.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.50
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• pp.3-25
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• 2011

The purpose of this paper is to examine the use of LD Clause against the seller's breach of contract in connection with delivering the goods in the international sales contract, and international guarantee system using standby L/C or demand guarantee. For this purpose, the author, first, considered the outline of the buyer's remedies in cases that the seller had not performed his obligations in contract and the difficulties in the buyer's remedies. As alternatives for overcoming the difficulties, this author recommended the LD Clauses (Liquidated Damage Clauses) based on ICC Model International Sales Contract, and explained each Model Clause. To enhance the feasibility of LD Clause, this author suggested the guarantee system, like the standby L/C or demand guarantee. But these guarantee systems have several limitations in practical use. Thus, these guarantee systems would greatly contribute to Korean exportation in the future. The reason is that the Korean export structure would be more complex and the period of sales contract would be longer and longer, which result to in long-terms supply contracts. These changes would require the guarantee much urgently.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.42
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• pp.67-85
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• 2009

In English Law it seems that it is essential to apply the principle of equilibrium in the contract, however, it does not seemed to apply as the general rule of the principle of contract. Especially it seems that English Court didn't pay attention to the principle of equilibrium in 18th century. If one of the party do not appeal the equilibrium of the contract, it does not make any difference even today. However the Court may cancel or withdraw the construction of contract between the parties where the principle of equilibrium is damaged by fundamental problems like just-price. In French Law it seems that they have more wide definition of the principle of equilibrium. The French Court may consider that the application of good faith is the performance of condition of the contract between the parties and has no power to relieve of one party of his expressed obligations or warranty. In German Law, it seems that the principle of good faith is fundamental to take into account interest of the parties. They may agree to supply information or not to interfere with a commercial agent regarding performance and maintenance of the contract.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.65
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• pp.21-49
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• 2015

This study primarily concerns the various franchisor's duties provided under the Draft Common Frame of Reference (here-in-after DCFR) in comparison with those under Korean law. It particularly focuses on the followings. First, it scrutinizes the rules on the scope of application in a comparative way, focusing on the following questions; what is the definition of a franchise contract and what are the essential elements of such contract. Second, it investigates in a comparative way the provisons as to the franchisor's contractual duties as follows; 1) a duty to collaborate actively and loyally and coordinate their respective efforts, 2) a duty to provide the franchisee with adequate and timely information before the contract is concluded, 3) a duty to grant the franchisee a right to use the intellectual property rights, 4) a duty to provide the franchisee with the know-how, 5) a duty to render the franchisee with assistance, 6) a duty to ensure the products ordered by the franchisee are supplied, 7) a duty to provide information during the performance, 8) a duty to warn the franchisee decreased supply capacity, 9) a duty to make reasonable efforts to promote and maintain the reputation of the franchise network. Its emphasis is particularly put on the rationals, the contents and the nature of such duties. Third, this study provides legal and practical advice to the contracting parties when they intend to insert either the DCFR or Korean law in their contract as a governing law.

• Journal of Korea Water Resources Association
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• v.38 no.1
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• pp.25-35
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• 2005

Nowaday the amount of water resource to generate the hydro-power energy has decreased as that of the water supply has increased. In case that the national market of the energy will be in free competition, the energy producer need to suggest the amount of the optimal supply with the hydrological reliability for a deal. In this study the optimal reservoir operation was performed by the linear programming and the optimal reliabilities of inflows and the power supply were obtained by the one dimensional search technique to estimate the energy with the optimal inflow reliability which the power system of the Yongdam multipurpose dam in Geum river can produce. And the main results were presented.

• Journal of Korean Philosophical Society
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• v.143
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• pp.165-188
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• 2017

According to Braybrooke(1976) and Sobel(1976), the traditional problem of the social contract is insoluble as long as it assume the 'agents with the rational egoistic motivations' in the 'circumstances such as the state of nature'. The problem of social contract is so called because it defies solution and it runs in the family of social contract theory. Then, do contemporary social contract theories have a solution? I argue that contemporary social contractarians fail to supply a solution due to a previous question or a circulation problem in their theories. And then, I show how conventionalism helps social contractarianism escape the problem.

• The Journal of the Institute of Internet, Broadcasting and Communication
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• v.18 no.5
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• pp.259-265
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• 2018

As the supply method of products has become diverse and complex, problems such as manipulation of origin and product trace have occurred in the existing supply chain system. In order to deal with these issues, various Blockchain based studies have been actively carried in the SW industry and academy. However, there is a lack of comprehensive survey research on the applied Blockchain techniques, so that it hardly understand the pros and cons of the technologies. In this study, we intensively investigated the diverse studies from the Industrial and academic area based on the several criteria such as the goals, use of key Blockchain technologies, and IoT technologies.