• Asia pacific journal of information systems
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• v.30 no.1
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• pp.21-30
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• 2020

Bitcoin (BTC) is a type of cryptocurrency that supports transaction/payment of virtual money between BTC users without the presence of a central authority or any third party like bank. It uses some cryptographic techniques namely public- and private-keys, digital signature and cryptographic-hash functions, and they are used for making secure transactions and maintaining distributed public ledger called blockchain. In BTC system, each transaction signed by sender is broadcasted over the P2P (Peer-to-Peer) Bitcoin network and a set of such transactions collected over a period is hashed together with the previous block/other values to form a block known as candidate block, where the first block known as genesis-block was created independently. Before a candidate block to be the part of existing blockchain (chaining of blocks), a computation-intensive hard problem needs to be solved. A number of miners try to solve it and a winner earns some BTCs as inspiration. The miners have high computing and hardware resources, and they play key roles in BTC for blockchain formation. This paper mainly analyses the underlying cryptographic techniques, identifies some weaknesses and proposes their enhancements. For these, two modifications of BTC are suggested ― (i) All BTC users must use digital certificates for their authentication and (ii) Winning miner must give signature on the compressed data of a block for authentication of public blocks/blockchain.

• Journal of Distribution Research
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• v.3 no.1
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• pp.71-98
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• 1998

This study aimed to investigate how such retailers as department stores, large discount stores, book wholesalers, and clothing wholesalers used information technology for the QR strategy and whether the QR strategy had an effect on performance with a focus on the pipeline strategy. For this purpose, the QR strategy was divided into transaction efficiency, supplier partnership, and customer detail strategy. The differences in performance and information technology were analyzed according to the fit of the pipeline strategy, such as internal focus, supplier focus, and customer focus, the business strategy which were used by the retailers. And, an attempt was made to investigate whether performance was raised according to the level of adopting information technology. The results can be summarized as allows. First, the adaptive level of information technology had an effect on performance. But, seeing that the explanatory power of the regression analysis on the effect of the adaptive level of information technology on performance was shown to be very weak, it is judged that the level of QR information technology in the responding firms was very low compared to that of foreign firms. Second, information technology used by the retailers included universal product code, bar coding, customer database, and information utilities. It was shown that the group of firms seeking the transaction efficiency QR strategy and the internal focus pipeline strategy had the higher level of information technology than the retailers seeking other customer detail QR strategy and the customer focus pipeline strategy and the retailers with inconsistent strategy. This indicates that the firm seeking to raise its internal efficiency has a high level of using information technology. At the end of the paper, managerial implication and future research directions were discussed.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.19
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• pp.191-223
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• 2003

Electronic commerce and the Internet offer unprecedented opportunities. The explosive expansion of the use of the Internet makes it possible for businesses to expand their markets and render services. Global transaction costs are easy to cut off using Internet and transaction speed is faster than before. Where cyberspace is not free from claims, Offline transaction can lead to problems and disputes the same is for cyberspace transactions. However ADR is not meet for the online transaction for speed, cost and open network system, ODR methods to resolve electronic commerce conflicts is crucial for building confidence and permitting access to justice in an online business environment. The use of the Internet and the network in dispute resolution has an impact on the types of communication implied in the relevant processes such as automated negotiation, online mediation and online arbitration and involves new technological issues such as the integrity and confidentiality of data and communication used to transmit and store data. Among the ODR systems Online Arbitration is currently binding both parties disputed and can achieve the aim of dispute award the same as the traditional arbitration. Arbitration is based on the New York Convention 1958, Arbitration Model law 1985 and national Arbitration Act that are founded on territorial area and rested on arbitration agreement, constitution of the arbitral tribunal, due process, final and binding award and enforcement of the arbitration award. To compare with this issues Online arbitration has unnecessarily legal unstability and risk. ODR is the burgeoning field and has created a new issues. All such issues which have been debated in the ADR are composed with ODR. But these are not limited Some of issues are further complicated by the nature of the online environment such as confidentiality and principle of parties. It is true that online arbitration should comply with legal provisions, but which is impossible to adhere of the law. Flexible translation and functional equivalence of legal provisions are needed for acceptance of electronic commerce disputes. Finally electronic commerce now takes place on the Internet, it is inevitable that the commercial world wants access to dispute resolution process that best suits the new commercial environment. ODR methods are processing for development and legal issues are considered by both national and international authorities. Introduction of new Conventions or amend Convention and Model law of ODR comes near.

• Journal of Distribution Science
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• v.13 no.2
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• pp.85-94
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• 2015

Purpose - This study attempts to examine the impacts of consumers' perceived service convenience of retailers on various service performance metrics such as service quality and customer satisfaction. It also tries to investigate differences in the importance of service convenience dimensions on service performance between a department store and a general super market. Research design, data, and methodology - The four hypotheses in this study were proposed and tested. Two hypotheses were on the causal relationships between service convenience dimensions and service performances (service quality and customer satisfaction). The other two hypotheses were on comparisons for the effects of convenience dimensions on service quality and customer satisfaction between department stores and general super markets. To test the hypotheses, three department store chains (Hyundai, Lotte, and Shinsegae department Store) and three general super markets (E-mart, Homeplus, and Lotte mart) were involved. Overall, 510 usable responses were used. The data were analyzed using regression analysis. Results - The results largely support the hypothesized relationships of the proposed model. The results show that access convenience, transaction convenience, benefit convenience, and post-benefit convenience have positive influences on service quality, whereas decision convenience, access convenience, transaction convenience, benefit convenience, and post-benefit convenience have positive effects on customer satisfaction. Furthermore, the results show that there are differences between department stores and general super markets in the effects of benefit convenience and post-benefit convenience on service quality as well as the effects of transaction convenience and post-benefit convenience on customer satisfaction. Conclusions - The concept of service convenience is important in retail environments but little is known about this topic in retail literature. Specially, while service convenience dimensions have different impacts on service performance in distinct retail environments, there has been little investigation or comparison between retail types as regards service convenience. This study is the first to test the differences between distinct retail types (department stores and general super markets) on the service convenience-service performance links. Managerially, the findings of this study suggest that the service convenience management of retailers is an important part of successful service performance management. Because it is most important that both department stores and general super markets enhance benefit convenience to improve service performance, managers of both store types need to invest their resources to reduce consumers' perceived time and effort expenditures to experience the retailer's core benefits. Therefore, the results of this study suggest that retail stores should spend human and financial resources to enhance customer perceptions of service convenience, while also considering what constitutes the service outcome in the consumer's mind. Furthermore, the findings suggest that managers need to use different service convenience management tactics in department stores and general super markets. Specifically, managers in general super markets should pay more attention to benefit convenience and transaction convenience to achieve better service performance whereas managers in department stores should concentrate on post-benefit convenience to create customers' positive evaluation.

• Journal of KIISE:Databases
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• v.35 no.3
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• pp.257-271
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• 2008

Wireless broadcast environments has character that a number of mobile client can receive data streaming from central server no matter how they are so many. Because it is asymmetric bandwidth in that uplink and downlink bandwidth are different. This advantage helps wireless broadcast environments is used in many applications. These applications work almost read operation and need control concurrency using transaction unit. Previous concurrency control scheme in single channel is not adapted in multi channel environments because consistency of data are broken when a mobile client tunes in a broadcast cycle in a channel and then move into another channel and listen to different broadcast cycle with already accessed broadcast cycle. In this paper, we propose concurrency control for read-only mobile transactions in multiple wireless broadcast channel. First of all, we adapt index and data dedicated channel and propose LBCPC(Longest Broadcast Cycle Per Channel) as new unit of consistency. In index dedicated channel, it is repeatedly broadcasted data in same BCPC(Broadcast Cycle Per Channel) until LBCPC. And mobile transaction executes validation using control information every LBCPC. As a result, consistency of data is kept and average response time is shorter than one in single channel because waiting time for restart reduces. And as control information is broadcasted more frequently than in single channel, it is guaranteed currency about data accessed by transaction. Finally, according to the simulation result, we verify performance of our scheme in multi channel as comparing average response time with single channel.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.62
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• pp.135-178
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• 2014

The Uniform Commercial Code (UCC) sets the standards of good faith in a commercial transaction for the sale of goods. With every sales contract, there is an implied obligation for both the seller and the buyer to negotiate the contract and perform under the terms of the contract in good faith. The agreement between both parties and the customs in the industry determine how the good faith standard should be applied to a particular transaction. Generally, the meaning of good faith, though always based on honesty, may vary depending on the specific context in which it is used. A person is said to buy in good faith when he or she holds an honest belief in his or her right or title to the property and has no knowledge or reason to know of any defect in the title. In section 1-201 of the UCC good faith is defined generally as "honesty in fact in the conduct or transaction concerned." Article 2 of the UCC says "good faith in the case of a merchant means honesty in fact and the observance of reasonable commercial standards of fair dealing in the trade." The sales contract will generally determine which party is required to perform first. This provision helps to determine if the buyer or the seller is in breach of the agreement due to failing to perform as stated by the contract. Either the seller must deliver the items before the buyer is required to accept and pay or the buyer must pay for the items before the seller has the duty to act in good faith and deliver the items in a reasonable manner. If the contract does not specifically define who is required to perform, industry customs and fair trade may determine what is acceptable for the transaction. Under the UCC, the buyer is required to pay for the goods when they are delivered, unless the contract states otherwise. Therefore, the UCC imposes an obligation of good faith on the performance of every contract or duty under its purview. The law also generally requires good faith of fiduciaries and agents acting on behalf of their principals. This article discusses problems of the principles of good faith under the UCC. Specifically, this paper focuses on the interpretation of UCC sections and analysis of various cases. By comparing, also, UCC and Korean law, the paper proposes some implications of good faith issues for Korean law.

• Land and Housing Review
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• v.11 no.2
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• pp.33-46
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• 2020

As the fastest growing office transaction volume in Korea, there's been a need for development of indicators to accurately diagnose the office capital market. The purpose of this paper is experimentally calculate to the office price index for effective benchmark indices in Seoul. The quantitative methodology used a Case-Shiller Repeat Sales Model (1991), based on actual multiple office transaction dataset with over minimum 1,653 ㎡ from Q3 1999 to 4Q 2019 in the case of 1,536 buildings within Seoul Metropolitan. In addition, the collected historical data and spatial statistical analysis tools were treated with the SAS 9.4 and ArcGIS 10.7 programs. The main empirical results of research are briefly summarized as follows; First, Seoul office price index was estimated to be 344.3 point (2001.1Q=100.0P) at the end of 2019, and has more than tripled over the past two decades. it means that the sales price of office per 3.3 ㎡ has consistently risen more than 12% every year since 2000, which is far above the indices for apartment housing index, announced by the MOLIT (2009). Second, between quarterly and annual office price index for the two-step estimation of the MIT Real Estate Research Center (MIT/CRE), T, L, AL variables have statistically significant coefficient (Beta) all of the mode l (p<0.01). Third, it was possible to produce a more stable office price index against the basic index by using the Moore-Penrose's pseoudo inverse technique at low transaction frequency. Fourth, as an lagging indicators, the office price index is closely related to key macroeconomic indicators, such as GDP(+), KOSPI(+), interest rates (5-year KTB, -). This facts indicate that long-term office investment tends to outperform other financial assets owing to high return and low risk pattern. In conclusion, these findings are practically meaningful to presenting an new office price index that increases accuracy and then attempting to preliminary applications for the case of Seoul. Moreover, it can provide sincerely useful benchmark about investing an office and predicting changes of the sales price among market participants (e.g. policy maker, investor, landlord, tenant, user) in the future.

• Journal of the Economic Geographical Society of Korea
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• v.23 no.1
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• pp.1-17
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• 2020

The study aims to identify economic interdependencies between regions and define functional economic areas of Korea by analyzing inter-firm transaction networks. Previous research has relied on pre-given administrative boundaries or cultural homogeneity and used data such as commuting, population movement, and cargo flows which could not fully explain economic activities. To overcome the limitations, this study applies a community detection method to inter-firm transaction networks derived from the CRETOP+ database of Korean corporate data. The novel dataset and the network analysis enables us to identify Korea's functional economic areas based on actual inter-firm linkages. The result shows that there are six to seven economic blocs in the networks as of 2018. In particular, one huge economic bloc is formed integrating the Seoul metropolitan area, Chungcheong, and Gangwon provinces. Meanwhile, North Jeolla and South Jeolla provinces form two economic blocs separately rather than being tied up in one bloc due to the low frequency of transactions between each other. The two big economic blocs of Daegu-Gyeongbuk and Busan-Gyeongnam exist, and interestingly, Ulsan, Gyeongju, and Pohang form a separate middle-sized bloc across the administrative boundaries. The results reveal that the future balanced national development policies should be implemented based on functional economic areas derived from empirical data.

• Journal of the Korean Association of Geographic Information Studies
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• v.15 no.1
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• pp.43-51
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• 2012

The OLS(ordinary least squares) method is widely used in hedonic housing models. One of the assumptions of the OLS is an independent and uniform distribution of the disturbance term. This assumption can be violated when the spatial autocorrelation exists, which in turn leads to undesirable estimate results. An alterative to this, spatial econometric models have been introduced in housing price studies. This paper describes the comparisons between OLS and spatial econometric models using housing transaction prices of Busan, Korea. Owing to the approaches reflecting spatial autocorrelation, the spatial econometric models showed some superiority to the traditional OLS in terms of log likelihood and sigma square(${\sigma}^2$). Among the spatial models, the SAR(Spatial Autoregressive Models) seemed more appropriate than the SAC(General Spatial Models) and the SEM(Spatial Errors Models) for Busan housing markets. We can make sure the spatial effects on housing prices, and the reconstruction plans have strong impacts on the transaction prices. Selecting a suitable spatial model will play an important role in the housing policy of the government.

• Review of Culture and Economy
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• v.17 no.2
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• pp.3-28
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• 2014

The characteristics of performing arts differ from those of utilitarian goods in terms of economics. Factors other than price need to be considered to understand the demand for performing arts. Audience surveys as well as econometric demand studies have confirmed that socio-economic factors such as age, income, employment, and education are major determinants of the demand for performing arts. This study focused on the attributes of concerts rather than consumer characteristics to determine the concerts audiences select in terms of transaction cost. Genre, price, internet search trends, and the purpose of performance as well as price are tested as determinants of demand by using the data set for a major concert hall in Seoul. Genre and the specific purpose of concerts influence the demand for concerts. Internet search trends of the performer are used as indicators of popularity and information exposure, which are positively correlated with demand. This result supports the hypothesis that larger audiences would attend concerts that require lower information search costs. To note, price has a positive effect on demand in the higher price range, which means that concerts at higher prices attract larger audiences, whereas normal goods have a negative slope in the demand curve. This result can be explained by the hypothesis that consumers use price as an indicator of the quality expected of a concert. Transaction cost for selecting classical concerts thus forms an inverse-U shape curve against ticket price. These results provide some explanation of why audiences of classical music choose to attend concerts at high ticket prices while offering evidence in favor of the hypothesis that performing arts are selected in a social context.