• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.61
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• pp.139-163
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• 2014

Recently with making of 'The Consumer Insurance (Disclosure and Representations) Act 2012(hereunder CIA)', the UK revised the duty of disclosure especially with the consumer insurance contract. According to the CIA, if the misrepresentation was careless, the insurer may have the three options based upon what the insurer would have done had the consumer taken care to answer the question accurately; a compensatory remedy, avoidance of the insurance contract or, amendment of the contract. I realized that the establishment of CIA has been exposed to pro-actively relieve the breach of Warranty and Disclosure, Representations as far as required by the Global Insurance market. It was found that it is expected to bring significant changes in UK Insurance Act system of the 21st century, and prepares competition from neighboring countries. On the other hand, in the common law system, countries under MIA(1906) are trying to address the breach of warranty and Disclosure, Representations, except the UK cannot completely adhere with a positive attitude.

• Journal of Arbitration Studies
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• v.26 no.2
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• pp.115-134
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• 2016

Arbitration is a consensual process in which a dispute is resolved by an impartial arbitrator outside the courts. Arbitration is flexible, neutral, time- and cost-efficient, and confidential. In 1985, the United Nations Commission on International Trade Law(UNCITRAL) enacted the UNCITRAL Model Law on International Commercial Arbitration to help countries reform and modernize their arbitration laws. In 1999, South Korea adopted the model law. Later in 2006, UNCITRAL amended the model law to promote international arbitration. The amended model law includes, among other things, specific provisions regarding interim measures. In 2016, in order to adopt the newly amended version of the model law, South Korea revised its Arbitration Act. The revised act includes a more comprehensive legal regime regarding interim measures, including definitions, types, processes, requirements, the court's recognition and enforcement, and liability. This paper examines the revision of the Arbitration Act of Korea and its legislative intent, presents the problems, and offers recommendations for resolving the problems.

• Journal of Korea Society of Digital Industry and Information Management
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• v.5 no.3
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• pp.185-199
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• 2009

This paper analyzed articles of u-City Construction Law, which has been enacted on 29th of September last year, and evaluated their appropriateness and other laws associated with u-city services for better provision of u-cities and u-city services. The enacted law established the concept of u-city in Korea and provided relating industries with construction procedures, technology developments, and standards. These efforts have substantial implications as the first stepping stone, but also raised several problems. Hence, this paper suggested that the u-City Construction Law should be amended as follows. First, The minimum size of u-cities, that is required by the law, should be decreased. Second, various kinds of incentives should be provided to the u-city project companies. Third, new organizations such as u-City commission and National or Regional Control and Management Center will be necessary. Fourth, technology standards and inter-operability among cities should be provided in the areas of the control and management centers. And Finally, more measures of and focuses on project financing issues should be made.

• International Commerce and Information Review
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• v.11 no.3
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• pp.265-286
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• 2009

Dumping describes the practice of international price discrimination whereby a producer or exporter sells merchandise in an export market at less than fair value. The U.S. antidumping statutory framework is embodied in the Tariff Act of 1930. The Act states that "dumping" refers to the sale or likely sale of goods at less than fair value. 19 U.S.C. $\S$ 1677(34). The Commerce Department and the Commission are jointly responsible for administering the antidumping law. Commerce determines whether foreign merchandise is being sold in the United States at less than fair value, and the Commission determines whether a domestic industry producing a product like the imported merchandise has been materially injured or threatened with material injury by reason of imports of that product. Recently, in U.S. v. Eurodif, the Supreme Court held the question whether the Commerce can reasonably determin that foreign merchandise has been sold within the meaning of the antidumping law in U.S.. Should 19 U.S.C. Section 1673, which calls for "antidumping" duties on foreign goods, but not services, that sell at less than fair value in the U.S., apply to imported low enriched uranium? Yes. In a unanimous opinion written by Justice David H. Souter, the Supreme Court held that the Commerce Department's view of imported low enriched uranium, as the sale of goods rather than services, was permissible. It reasoned that, since 19 U.S.C. Section 1673 did not specify whether it applied to the production of low enriched uranium, it was left to the reasonable interpretation of the Commerce Department to determine. Accordingly, the Court found the Commerce Department interpreted the statute reasonably.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.38
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• pp.123-152
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• 2008

It is a basic rule in the credit law that original documents are required unless otherwise stipulated by the credit. Due to modern technology enabling documents to be produced in many ways it may not always to decide whether a document is original or a photocopy. In consideration of modern technology and the advent of new methods of document production, ICC has drawn up the provisions on original documents in Article 22 (b) of UCP 400 for the first time. The equivalent provision in UCP 500 is Article 20 (b). As a result of many queries to ICC Banking Commission on what constitutes an "original" documents under UCP 500 and several court cases in connection with original documents, the ICC Banking Commission has issued Decision on original documents in July 1999. Based on this Decision, the ICC dealt it in Article 17 under UCP 600 which came into force on July 1, 2007. There are some changes, replacements and new provisions of UCP 600 concerning original documents and copies. Importers, exporters, insurance companies, other third parties and, above all, banks should pay attention to some changes and implications of UCP 600 concerning original documents and copies. The purpose of this paper is to examine the provisions on original documents and copies under UCP 600. For this purpose, firstly this study deals with the relative provisions on original documents and copies under pre-UCP 600. Secondly this study considers the provisions on original documents and copies under UCP 600. Thirdly this study compares the provisions under pre-UCP 600 with the provisions under UCP 600. Finally this study analyzes the cases decided both home and abroad in connection with original documents. This paper contribute to help the parties to letters of credit to understand the provisions on original documents and copies under UCP 600.

• Journal of Arbitration Studies
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• v.26 no.4
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• pp.63-82
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• 2016

In order to cope with the changes of International Commercial Arbitration, the Shanghai International Economic and Trade Arbitration Commission (SHIAC) regulated an Emergency Arbitrator for the first time, implementing the arbitration rules in China (Shanghai) Pilot Free Trade Zone on May 1, 2014. Moreover, the China International Economic and Trade Arbitration Commission (CIETAC) also regulated the Emergency Arbitrator in the revised arbitration rules on January 1, 2015. However, it caused considerable contradiction that SHIAC and CIETAC admitted an interim measure decision by the Emergency Arbitrator under the circumstance that the Chinese court can impose a preservative measure in the Civil Procedure Code (CPC) and Arbiration Act. This study attempted to compare the main contents of an Emergency Arbitrator regulated in the arbitration rules of SHIAC and CIETAC with arbitration rules of representative arbitral institutions which operate an Emergency Arbitrator. In addition, this study verified the application features and problems through comparing the rule of SHIAC and CIETAC with the rule related to the preservative measure in Chinese law.

• Journal of Arbitration Studies
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• v.16 no.1
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• pp.153-185
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• 2006

This article deals with the Improvement of Compulsory Arbitration System on Trade Union and Labor Relations Adjustment Act in Korea. If a labor dispute occcur, the settlement of labor dispute must be reached for the parties' own accord. The autonomy of the parties concerned is the fundamental principle in the settlement of labor dispute. If the Rights Which are guaranteed by art. 33 Constitutional Law belong to civil liberties, we should consider Trade Union Act as the restriction of basic rights. Arbitration is a procedure which permits the most positive intervention by the arbitrator. It is carried out by an arbitration committe which is composed of three arbitrators appointed by the chairman of the Labor Relations Commission. Compulsory arbitration system of the labor for parties should be improved. In case of necessary public enterprises, more strict requirements on assembly for labor disputes should be prepared and the government should support institutions to prevent labor-management disputes by educating experts on labor-management relations and improving the quality of arbitration.

• Journal of Arbitration Studies
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• v.16 no.1
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• pp.121-151
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• 2006

As globalisation extends its effect and particularly following China's accession to the World Trade Organization(WTO) in 2001, ever greater numbers of international transactions will feature a Chinese party. China has certainly made efforts in recent years to rectify law problem. While conducting business in China, foreign companies occasionally find themselves embroiled in disputes with Chinese individuals and companies. As foreign businesses invest in the extraordinary market opportunities in China, international arbitration has also become the preferred method for handling disputes with Chinese partners or with other foreign corporation over operations in China. The new Arbitration Rules of the International Economic and Trade Arbitration Commission(CIETAC) came into force on 1 May 2005. The new rules represent a major overhaul of CIETAC arbitration procedures and are sure to enhance CIETAC's position as a leading player in the resolution of China-foreign business disputes. The changes are significant for all companies doing business in China. So, this article investigated some amendments on the basis of 2000 Rules.

• Proceedings of the Korean Society for Noise and Vibration Engineering Conference
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• 2008.04a
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• pp.876-878
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• 2008

The standards of acceptable limit and compensation is one of the most important things in environmental noise and vibration disputes resolution. In this paper, review on the present acceptable limit level and compensation standard in National Environmental Dispute Resolution Commission is introduced. Discordance of standards between in the regulation law and in the dispute resolution commission and it's improvement are discussed. Abnormal reasoning for compensation standards is pointed out from a author's private view.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.3
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• pp.155-163
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• 2021

The study aims to investigate the effect on Philippine occupational choice of House Bill No.7787, also known as the National Wage Law, which was filled by the Philippine Congress that mandates the implementation of an across the board minimum daily wage of Php750.00 to all workers in the Philippines. This study had used the Computable General Equilibrium-Top-Down Behavioral Microsimulation approach to determine the effect of National Wage Law on occupational choice. The results of the study revealed that the implementation of said National Wage Law would affect the distribution of labor force across occupational classification such as wage workers, entrepreneurial farming activities workers, and entrepreneurial non-farming activities workers. This has resulted from a higher utility that will be derived from the wage working sector once the National Wage Law will be implemented. Further, among regions in the Philippines, the Calabarzon, National Capital Region, and Central Luzon had recorded the highest number of workers who prefer the wage income sector. The findings of the study also suggest that the Philippine agricultural sector will be greatly affected by the National Wage Law due to the preference of workers to shift from the entrepreneurial farming sector to belong to the wage sector.