• Korean Business Review
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• v.11
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• pp.415-437
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• 1998

On choosing insurance terms it would be a reasonable choice to choose insurance terms in proportion to how much risk is to be with considering of how much risk is exactly to be in a cargo's owner of his or hers as there are conditions such as a character of cargo, a packing condition, a loading ship, a shipping section, and a premium. But when we see on the present state of the statistical insurance table, the effects are entirely different from it stated above and these serious problems are of both the problem to prove who is on duty and the problem to cover how much the indemnity are to be. When we see a shipper as the insured, in the last 3 years that all risks has been more than 95 percent is to prove the reason mentioned above and there would be an intention for the shipper to transfer a claim for the indemnity to the insurer to evade from the complexity. Also when we see how much both I.C.C and New I.C.C is used, New I.C.C has been used less two times than I.C.C, that is due to the restriction of the scale of covering the indemnity. So both the introduction of trade clause as to insured in the same line of business and the positive application, taking into account of the principle of proving who is on duty and the scale of covering the indemnity, are to be accomplished.

• Journal of the Korea Convergence Society
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• v.13 no.3
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• pp.217-225
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• 2022

We analyzed efficiency and productivity of the Indian non-life insurance market affected by the COVID-19 pandemic from 2020. Using data envelopment analysis(DEA), we examined non-life insurance companies selling health insurance products in India from FY2013 to FY2019. We found the followings. First, average efficiency of the entire non-life insurance industry worsened in the beginning yet improved later. Second, analyzing the efficiency measures by group, we found that private insurance companies had the highest efficiency, followed by state-run insurance companies and pure health insurance companies. Third, average annual productivity growth rate of companies operating distance selling channels including telemarketing is higher than that of traditional face-to-face channels. During and after the COVID-19 pandemic, therefore, Indian non-life insurance companies should focus their resources and efforts on the development of distance selling channels when establishing business strategies. Besides, it would be interesting to extend our analysis to the post-coronavirus period and we leave this for future research.

• Korea Trade Review
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• v.48 no.3
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• pp.243-262
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• 2023

This study provides a systematic review of smart trade contracts, examining the research trends and theoretical background of utilizing smart contracts and blockchain technology for the digitalization and automation of trade contracts. Smart trade contracts are a concept that applies the automated contract system based on blockchain to trade-related transactions. The study analyzes the technical and legal challenges and proposes solutions. The technical aspect covers the development of smart contract platforms, scalability and performance improvements of blockchain networks, and security and privacy concerns. The legal aspect addresses the legal enforceability of smart contracts, automatic execution of contract conditions, and the responsibilities and obligations of contract parties. Smart trade contracts have been found to have applications in various industries such as international trade, supply chain management, finance, insurance, and energy, contributing to the ease of trade finance, efficiency of supply chains, and business model innovation. However, challenges remain in terms of legal regulations, interaction with existing legal frameworks, and technological aspects. Further research is needed, including empirical studies, business model innovation, resolution of legal issues, security and privacy considerations, standardization and collaboration, and user experience studies to address these challenges and explore additional aspects of smart trade contracts.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.15
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• pp.239-261
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• 2001

There are many kinds of risk in int'l trade by internet network, such as credit risk, mercantile risk, contingency risk, exchange risk, physical risk and the risk on internet network. Especially, risk management against credit risk and the risk on internet network are very important. The former is conventional but more important these days. The latter is a new risk that has been incurred owing to the int'l trade by internet network. The system of risk management against the former are firstly, to surely research credit of counterpart by internet, secondly, to certify the entity by password or fingerprint, thirdly, to pay the price under a letter of credit, fourthly, to use the system of int'l trade such as bolero, trade card, finally, to use the authority of electronic trade services. The system of risk management against the latter are firstly, to install the firewall on the own computer network, secondly, to entrust the management own computer network to the network security services firm, thirdly, to electronically communicate with counterpart through the certification authority, finally, to insure against the own network risk with the security insurance company.

• Korea Trade Review
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• v.41 no.5
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• pp.163-185
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• 2016

The impact of global trade on developing countries is a critical subject. Especially in this country, under difficult conditions like political issues with North Korea, achieved a trade surplus of 90.2 billion dollars last year. While the service trade recorded a deficit of 15.7 billion dollars in the same period. According to WTO, services are either the result of a production activity that changes the conditions of the consuming units (transformation services), or facilitates the exchange of products or financial assets (margin services). To unify and compare with the trade and service statistics of countries, they assorted 12 classifications of services like Manufacturing service on physical inputs owned by others, Maintenance and repair service n.i.e., Transport, Travel, Construction, Insurance and pension service, Financial service, Charges for the use of intellectual property n.i.e., Telecommunications, Computer and information services, Other business services, Personal, cultural and recreational services, and Government goods and services n.i.e. Thus, this study is to estimate the international competitiveness of service trade between 2006 and 2015 in Republic of Korea, according to EBOPS 6th. As a result, total service volume of export and import has increased in the last 10 years. Its volume, recently, accounts for 22% of total goods trade. Also the Korean Government can make a supporting policy and decide a supporting business in terms of service trade. Finally, we can find a mutual connectivity within 12 service businesses and between Service and Goods.

• Journal of the Korean Home Economics Association
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• v.25 no.1
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• pp.93-104
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• 1987

The purpose of this study is to analyze the problems of present general clause to bring about consumer damages and to search for means to regulate general clause. For the purpose of this study, datas of the research on the actual condition about various trade general clause were used. And the research about various trade general clause was enforced by the government from September to December in 1984. The kind of general clause of an object of analysis is credit card, sales by visit, insurance trade, and travel intercession. As the result of analysis, many problems are found in every general clause and consumer damage by general clause are proved to be a serious state. As the means of the regulation of general clause, there are judicial regulation, administrative regulation, legislative regulation, and the establishment of a supervision committee of general clause. These four means must be cooperated mutually for the substantial regulation.

• Korea Trade Review
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• v.42 no.2
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• pp.145-174
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• 2017

Recently, due to the worsening global economic recession, Korea which is a small, export-oriented economy has decreased exports and the domestic economy also continues to stagnate. Therefore, for continued growth of our economy through export growth, we need to analyze the validity of export support system such as export insurance and prepare ways to expand exports. This study is to investigate the effects of Export Insurance on the exports of SMEs as well as LEs. For this purpose, this study conducted Time Series Analysis using data such as export, export insurance acquisition, export price index, exchange rate, and coincident composite index(CCI). First, as a result of the Granger Causality Test, the exports of LEs has found to have a causal relationship with the CCI, and CCI is to have a causal relationship with the short-term export insurance record. Second, the results of VAR analysis show that the export insurance acquisition result and the export price index have a positive effect on the exports of LEs, while the short - term export insurance has a negative effect on the exports of LEs. Third, as a result of variance decomposition, the export of LEs has much more influenced for mid to long term by the short-term export insurance acquisition compared to SMEs. Fourth, short-term export insurance has a positive effect on exports of SMEs. In order to activate short-term export insurance against SMEs, it is necessary to expand support for SMEs by local governments. This study aims to suggest policy implications for establishing effective export insurance policy by analyzing the effects of export insurance on the export of SMEs as well as LEs. It is necessary to carry out a time series analysis on the export results according to the insurance acquisition results by industry to measure the export support effect of export insurance more precisely.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.33
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• pp.63-89
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• 2007

The UCP is an authoritative compilation of the customs and practice of letters of credit observed by most of the participants in the transaction. It remains the most successful set of private rules for trade ever developed. First issued in 1933, the UCP has been through five revisions, the latest being the present UCP 500, which came into force in 1994. Since 1994, new developments in transport, insurance, electronic commerce and banking industry have spurred the current revision of the rules. The ICC Banking Commission approved UCP 600 on October 25, 2006 by a unanimous vote of 91 to 0. The revision, which will come into effect on July 1, 2007, incorporates a number of changes from UCP 500 as follows : UCP 600 has a leaner set of rules, with 39 articles rather than 49 articles of UCP 500; New sections on "definitions" and "interpretations" have been added to clarify the meaning of ambiguous terms; The phrase "reasonable time" for acceptance or refusal of documents has been replaced by a firm period of five banking days; UCP 600 allows for the discounting of deferred payment credits. However, UCP 600 has two main problems such as the inconsistency with insurance industry and the banking community-oriented rules. We have some months before the commencement of UCP 600. From today to the commencement of UCP 600, we should study the full contents of UCP 600 and the influences on the trade industry.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.13
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• pp.105-129
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• 2000

INCOTERMS 2000 was not changed in its basic system but much improved in many minor aspects, reflecting the expansion of customs free zone, the spread of electronic communications and the changes of transportation practices. Among many points, following revisions are to be considered important to examine : First, the term 'delivery' is clearly defined in the preamble of each term, which is very significant since the risk is connected with the delivery in international trade. Second, the obligation of carrying out export customs formalities in FAS and import customs formalities in DEQ are imposed to seller and buyer respectively according to current trade practices. Third, since the customs formalities are no more needed among the countries of customs free zone, the phrase 'where applicable' is inserted in A.2 and B.2 of each term. Fourth, the method of delivery(for example, loaded or unloaded) became very concrete and clear in each term. Fifth, in the obligation of buyer's contracting insurance, the 'no obligation' is added even though the buyer has no insurance obligation to the seller. Finally the I.C.C. tried to make unification of the special terminologies be in accordance with those of CISG to achieve international harmony between the uniform law and uniform usages.

• The Journal of Information Technology
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• v.5 no.3
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• pp.197-214
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• 2002

Electronic Commerce has already existed for over 20 years. The Bolero project initially had the support of TEDIS, and now is jointly financed by SWIFT(Society for World International Financial Telecommunications) which handles most of the electronic funds transfer for banks, and the Through Transport Mutual Assurance Association(the TT Club), a mutual insurance association most of whose members are drawn from the Multimodal transport industry or transport intermediaries. Bolero's mission is to provide guaranteed and secure delivery, in electronic form, of trade documentation, globally, based on a binding legal environment and common procedures, Bolero will also provide a platform for provision of neutral cross-industry services. TradeCard is a payment and settlement system that is an alternative to letters of credit. That is, TradeCard is a business-to-business e-commerce infrastructure that enables buyers and sellers to conduct and settle international trade transactions securely over the Internet. Paperless, payment-guaranteed international trade transactions - which eliminate the traditional letters of credit with electronic certifications - are widely considered the most difficult B2B transactions to conduct.