• Korea Trade Review
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• v.45 no.5
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• pp.279-301
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• 2020

In the absence of any guidance under statutory law, such as the Rules for Construction of Policy, MIA 1906, judges should follow the general principles of interpretation that apply to all contracts. In simple terms, Contra Proferentem Rule means that if the contents of the terms and conditions are ambiguous, they are interpreted against the writer of the terms and conditions. In the Anglo-American Contract Law, the 'default rule' is an important judicial tool that can supplement defects in contract norms and reinforce the principle of private autonomy through gap-filling techniques related to the interpretation of contracts. In Korea, it is sometimes mentioned in case of precedent, and it has been established as a clear rule. This study analyzes the interpretation of terms and conditions is not in the form that the interpretation of other general contracts and other interpretation principles are valid, but contracts based on terms and conditions are also contracts, and as a general rule, the interpretation of terms and conditions is explained like the general contract interpretation.

• Korea Trade Review
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• v.46 no.2
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• pp.263-280
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• 2021

With the advent of the era of the 4th Industrial Revolution, various support policies and programs are being introduced as the promotion of startups related to the 4th industry is promoted as a core policy of the government. Based on major technologies such as Artificial Intelligence(AI), Big Data, Internet of Things(IoT), Blockchain, and Automation leading the 4th industrial revolution, logistics and distribution companies are expanding the range of markets and services provided. The purpose of this study is to examine the current status of startups in the logistics field based on major technologies of the 4th Industrial Revolution, which are rapidly growing at home and abroad, and suggest implications for revitalizing logistics startups through a policy demand survey. As a result of the study, in order to foster domestic logistics startups, we propose policy support for integration of logistics startups, integrated management of information, provision of physical space, network platform, and practical education and mentoring.

• Journal of Korea Trade
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• v.23 no.7
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• pp.147-155
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• 2019

Purpose - As the U.S.-China trade war has become considerably worse, the Chinese government is considering applying non-tariff barriers to trade, especially local contents rule. The main purpose of this research is to check whether it is suitable for Korean investors to invest in the current Chinese capital market. Design/methodology - In order to check the stability of the recent Chinese capital market, we investigated the behavior of foreign equity investment (including Korean equity investment) in the Chinese capital market after China announced the Shanghai-Hong Kong Stock Connect (SH-HK Connect). In this paper, we researched whether international portfolio investment would or would not contribute to an increase the volatility of an emerging market's stock market (Chinese capital market) when foreign investors make investment decisions based on the objective of short-term gains by rushing into countries whose markets are booming and fleeing from countries whose markets are falling. Findings - The empirical results indicate that foreign investors show strong, negative feedback trading behavior with regard to the stock index of the Shanghai Stock Exchange (SSE), and when the performance of foreign investors in the Chinese stock market was fairly good. Also, we found evidence that the behavior of foreign investors significantly decreased volatility in SSE stock returns. Consequently, the SH-HK Connect brought on a win-win effect for both the Chinese capital market and foreign investors. Originality/value - It appeared that the Chinese capital market was very suitable for Korean investors after the China's declaration of the SH-HK Connect. However, the win-win effect was brought on by the Chinese government's aggressive capital control but the capital controls could possibly cause financial turmoil in the Chinese capital market. Therefore, Chinese reform in industrial structure and the financial sector should keep pace with suitable capital control policies.

• Journal of Korea Trade
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• v.23 no.7
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• pp.34-44
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• 2019

Purpose - The purpose of this study is to present what the port of Pyeongtaek, the hub of Korean trade with China, should improve in the current situation, wherein the e-commerce trade volume between Korea and China is increasing due to the development of online technology. Design/methodology - In this study, through prior research and expert interviews on e-commerce and port activation between borders, we derived the main improvement factors for 1) Administration and Systems, 2) Facilities, 3) Transport, and 4) Manpower, and selected 12 detailed variables for the major improvement factors. To identify the relative importance of the major improvement factors, the Analytic Hierarchy Process (AHP) method was applied, and a survey was conducted among 15 related experts. Findings - As a result, among the 12 detailed variables, Composition of Association (0.267) was the first factor to be improved, followed by Incentive Support (0.143) and E-Commerce Cluster (0.131). Based on these analyses, the main implications of this study are, first, in the current situation where the cross-border e-commerce market is growing, Pyeongtaek Port needs to form a consultative body among the government, local governments, and related businesses in connection with cross-border e-commerce and develop various support policies for the e-commerce market. Second, it will have to be able to provide differentiated services from competing ports by establishing e-commerce market-oriented clusters. Originality/value - In existing related studies, various improvements were presented to revitalize trade in line with the growth of the cross-border e-commerce market. However, with regard to most cross-border e-commerce businesses, one-dimensional improvement measures, such as improvement of payment systems, improvement of customs clearance services, and promotion of human resources, are presented in a piecemeal manner. In other words, none of the studies have proposed the importance and priority of each measure in terms of both the forward-looking and efficient allocation of resources, which is the purpose of this study. Therefore, this study contributed politically, practically, and academically by presenting countermeasures for ports to revitalize cross-border e-commerce and presenting strategic priorities using quantitative analysis methods.

• The Journal of Economics, Marketing and Management
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• v.12 no.2
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• pp.73-81
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• 2024

Purpose: South Korea is a close ally of the US and an important partner of China. Caught between the two most powerful countries, South Korea's strategic directions are critical. This article emphasizes that the deeper core of the US-China trade war is to improve the business environment to attract foreign direct investment (FDI) to boost the economy, rather than engaging in the trade war. Research design, data, and methodology: Considering the complexity of this issue, this article applies a systematic analytical tool, the ABCD (Agility, Benchmarking, Convergence, and Dedication) model, to provide strategic guidance for inducing investments into South Korea in the context of the ongoing US-China trade war. Results: Specifically, South Korea needs to provide a more attractive business environment along the four points: expedite commercial activities through deregulation (Agility); adopt global standards of the flexible labor markets and technological developments (Benchmarking); integrate various industries and connect them to global value chains (Convergence); and create more economy-friendly policies rather than politics-oriented ones such as protectionism (Dedication). Conclusion: This study stands out not just by utilizing the ABCD model but, also by providing more systematic analysis and practical implications, particularly within the context of the escalating US-China competition. Unlike many existing studies that analyze the broader impacts of this geopolitical rivalry, this research delves into specific strategic guidelines for South Korea to attract FDI. The findings also provide implications for multinational corporations (MNCs) in choosing the locations for their overseas operations, particularly in South Korea.

• Journal of Distribution Science
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• v.14 no.1
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• pp.59-66
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• 2016

Purpose - The purpose of this study is to find out how shipping company recognizes making partnership with the third party logistics provider and to give implication. Research design, data and methodology - Personal interview and questionnaire by E-mail, Fax, Mail, and telephone were used. 700 copies of the questionnaires were distributed and 155 copied were returned. Among collected questionnaires, 20 copies were excluded because of insufficient content, and therefore 135 copies were used. Results - Korea should change into new paradigm from old one based on current economic and social systems which has stemmed from bureaucracy, inflexibility chauvinism and equalitarianism. Flexible policies, administration and systems will be needed for better business practices. The Domestic logistics corporation needs to preoccupy strategic logistics hub and network. Conclusions - To be a center of North East Logistics, Korea needs more reasonable business law, systems and policies. Social norms and orders should be established to accomplish political and social security. A paradigm of the policy ruling over development of capital city and satellite cities shall make change.

• Journal of the Korea Safety Management & Science
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• v.2 no.4
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• pp.165-176
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• 2000

Broadband networks are designed to support a wide variety of services with different traffic characteristics and demands for Quality of Services. Bandwidth allocation methods can be classified into two major categories： static and dynamic. In static allocation, bandwidth is allocated only at call setup time and the allocated bandwidth is maintained during a session. In dynamic allocation, the allocated bandwidth is negotiated during a session. The purpose of this paper is to develop policies for deciding and for adjusting the amount of bandwidth requested for a best effort connection over such as ATM networks.. This method is to develop such policies that a good trade off between utilization and latency using cell delay variation to the forecast the incoming traffic in the next period. The performances of the different polices are compared by simulations.

• Journal of Applied Reliability
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• v.16 no.4
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• pp.313-322
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• 2016

Purpose: We introduce ways to employ Markov chain model to evaluate the effect of preventive maintenance process. While the preventive maintenance process decreases the failure rate of each subsystems, it increases the downtime of the system because the system can not work during the maintenance process. The goal of this paper is to introduce ways to analyze this trade-off. Methods: Markov chain models are employed. We derive the availability of the system consisting of N repairable subsystems by the methods under various maintenance policies. Results: To validate our methods, we apply our models to the real maintenance data reports of military truck. The error between the model and the data was about 1%. Conclusion: The models developed in this paper fit real data well. These techniques can be applied to calculate the availability under various preventive maintenance policies.

• Proceedings of the Safety Management and Science Conference
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• 2000.11a
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• pp.131-134
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• 2000

Broadband networks are designed to support a wide variety of services with different traffic characteristics and demands for Quality of Services. Bandwidth allocation methods can be classified into two major categories: static and dynamic. In static allocation, bandwidth is allocated only at call setup time and the allocated bandwidth is maintained during a session. In dynamic allocation, the allocated bandwidth is negotiated during a session. The purpose of this paper is to develop policies for deciding and for adjusting the amount of bandwidth requested for a best effort connection over such as ATM networks. This method is to develop such policies that a good trade off between utilization and latency using cell delay variation to the forecast the incoming traffic in the next period. The performances of the different polices are compared by simulations.

• Management & Information Systems Review
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• v.22
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• pp.167-191
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• 2007

The EU has introduced various environmental protection policies and regulations which are stricter than accepted international standards. WEEE, RoHS, and EuP directives in the Electrical and Electronic Industry could have a direct effect on our exports to EU countries. To gradually enlarge exports to the EU, it is necessary to have a precise understanding of the EU's environmental regulations and prepare the relevant countermeasures to adequately cope with them. Korean companies should formulate concrete plans to meet the EU's environmental regulations in those industry. In order to decrease the negative effects that environmental regulations of EU give to Korea, the corporations and the government should change their present passive environmental policy and carry out the environmental- friendly policy. If Korean companies can adequately meet the standards set by the environmental policies and regulations of the EU, it will greatly enhance the competitiveness of companies in this market.