• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.12
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• pp.405-427
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• 1999

Although Uniform Customs and practice for Documentary(UCP) is not a law, it applies to most documentary credits and is binding on all parties unless otherwise expressly stipulated. Besides, Uniform Commercial Code(UCC) Article 5 was codified by the United States and was adopted by every state. Moreover, the New York version of the UCC Article 5-102(4) specifically providing that the UCC does not apply to letters of credit where the parties agree to be governed by the UCP. Identical nonuniform Articles were latter added in Alabama, Arizona, and Missouri. The fact that courts in forty-six of the fifty states are bound by Article 5. Until now, Article 5 of the UCC has probably had an impact on the decisions in New York and the New York common law. Therefore, I examined a few issues on application between Article 5 of the UCC and the UCP. First, although the UCP attempt to introduce a new for examination of document by incorporating "standard practice of financial institutions" and "international banking practice", the standards for documentary compliance are not clear. The UCC attempt to rely on the matter of interpretation for the court, but the UCP would probably be interested in examining in about bank's internal practices as reflected in UCP Articles. Second, the rule for nondocumentary conditions is a useful for stand-by credit transactions under the UCC, but these conditions would probably put the bank in an even worse position in case of documentary credit transactions under the UCP. Third, the UCP does not contain any provision governing the fraud exception, but the UCC codified the fraud and forgery rules developed through American case law. Fourth, the UCP treats the issue of transfer in much more detail than the UCC does. In contract, the UCP's treatment of assignment of proceeds is brief. Finally, I suggest that the fraud exception rules should be prescribed in the UCP in order to protect the issuing bank and the applicant when an unscrupulous party attempts to defraud.

• Journal of the Korea Institute of Information Security & Cryptology
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• v.18 no.6A
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• pp.27-37
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• 2008

In the traditional signature techniques, anyone can verify the signed message. It may cause a problem since a receiver of the signature can transfer the conviction of signature to a third party. In 1996, Jakobsson introduced a designate verifier signature(DVS) which is allowed to verify only specific verifier. DVS is the solution of conflict between authenticity and privacy because it provides message authentication without non-repudiation property. In this paper based on the notion of certificateless, we suggest a certificateless strong designated verifier signature scheme including the notion of strong which provides privacy of the signer. We suggest a scheme which is first trial to propose a certificateless strong designated verifier signature scheme including the notion of strong and non-delegatability, although it is not more efficient than previous one.

• The Journal of the Korea Contents Association
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• v.12 no.9
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• pp.202-210
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• 2012

Since Civil Law recognizes the freedom of a testament, it recognizes the freedom allowing the decedent to dispose his/her own property at his/her own intention. However, in order to prevent various abuses which may occur when the principle of freedom of testament is carried out unlimited, secured portion system is stipulated. So, absolute freedom of property disposed by the deceased is limited. Likewise, the secured portion system is introduced as the system to resolve the contradiction that exists between principle of freedom of testament and legal inheritance. Since Supreme Court Decision 2010DA50809 delivered on May 24, 2012 includes major legal issues such as how to exercise of claim of return for secured portions, transfer of the secured proportion or the claim of return for secured portions, and exercise of claim of return for secured portions against a third party. So, it has a very important meaning. In this paper, legal issues regarding the exercise of claim of return for secured portions have been reviewed with this decision.

• Journal of Internet Computing and Services
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• v.20 no.4
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• pp.1-11
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• 2019

A Blockchain-based access control technology is one of the various use cases of blockchain and is used in many areas to transparently transfer and manage ownership of data between users without the trusted third party. The characteristics of transparency, Irreversibility, and decentralization provided by the public blockchain help to offer new benefits that existing access control technologies did not offer. However, various security issues facing the current blockchain are raising the issue of the safety of the technology. Therefore, in this paper, we analyze an overview of the blockchain-based access control technology and solutions of the security challenges faced. Moreover, we further present solutions that are not affected by the blockchain trilemma and models of access control technology based on them.

• The Korean Journal of Air & Space Law and Policy
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• v.30 no.2
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• pp.177-199
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• 2015

Commerce enriches human life enriched and within commerce, transportation of cargo is arguably the most important in business transactions. Traditionally, marine transport has been major commercial transaction, but carriage cargo by air is on the increase. While the fare for freight in comparison with that of ocean is higher, air freight has many benefits that justify the higher shipping fee; lower insurance premium, packing charges, inventory control, cost management and especially speed. Therefore, air freight transport is accumulating gradually. An air waybill(AWB) is needed in the air transport flow. It is a nonnegotiable security, so the holder cannot transfer of a right to a third party. Some scholars suggest that a negotiable AWB is needed. However, it seems nearly impossible to do so; an e-AWB use shows a gain in numbers, even if it has not met expectations. Going forward, it would appear reasonable to conduct a follow-up study on the utility and legal problem for e-AWB. After sending goods, the consignor has the right of disposition of cargo in some cases, and more research is necessary, because it is related to change of ownership and a trade settlement. According to WATS (World Airlines Transport Statistics), the Korean Air took third place in international freight in 2014, and fifth in total, domestic and international to great acclaim. However, there is a lack of research supporting the business showing. It is hope that more studies on e-AWB, stoppage in transit, and a risk of outstanding amount, etc. connect to develop Korean air freight industry.