• Journal of Arbitration Studies
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• v.26 no.2
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• pp.3-25
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• 2016

Lately each country tends to provide neutrality and ease of enforcement in order to settle disputes related to international trade through commercial arbitration. In order to expand the use of arbitration systems, most countries accept arbitration agreements as an effective tool agreed between parties that express their intent to settle disputes by the arbitration. It is applied equally to selective arbitration agreements and parties can select either arbitration or lawsuit to settle disputes based on the contract intent for selective arbitration agreements. However, China does not admit the effectiveness of selective arbitration agreements. Chinese courts regard selective arbitration agreements as not valid because the contract of a selective arbitration agreement between parties is not a definite expression to only use the arbitration and there is no exclusion of court jurisdiction. Therefore, the study attempts to consider effective conditions for selective arbitration agreements in the Chinese arbitration act and other relevant regulations, and also verifies the judgment by Chinese courts on relevant disputes. As a result, the study explores some problems and implications of Chinese selective arbitration agreements and suggests some precautions in case Korean companies pursue selective arbitration agreements with Chinese enterprises and investors.

• Asia Marketing Journal
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• v.15 no.3
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• pp.79-95
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• 2013

New product innovation is a process of embodying new knowledge in a product and technology licensing is getting popular as a means to innovations and introduction of new product to the market in today's competitive global market environment. Incumbents often rely on technology licensing to access new product opportunities created by other firms. Prior research has examined various aspects of technology licensing agreements such as specific contract terms of licensing agreements, e.g., distribution of control rights, exclusivity of licensing agreements, cross-licensing, and the scope of licensing agreements. This study aims to provide answers to an important, but under-researched question: why do some incumbents initiate more licensing agreement for exploratory learning while others do it for exploitative learning along the innovation process? We attempt to extend our knowledge of licensing agreements from an organizational learning perspective. Technology licensing as a specific form of interfirm linkages can be initiated with different learning objectives along the process of new product innovation. The exploratory stages of the innovation process such as discovery or research stages involve extensive searches to create new knowledge or capabilities, whereas the exploitative stages of the innovation process such as application or test stages near the commercialization are more focused on developing specific applications or improving their efficiency or reliability. Thus, different stages of the innovation process generate different types of learning and the resulting technological resources. We examine when incumbents as licensees initiate more licensing agreements for exploratory learning objectives and when more for exploitative learning objectives, focusing on two factors that may influence a firm's formation of exploratory and exploitative licensing agreements: 1) its past radical and incremental innovation experience and 2) its internal investments in R&D and marketing. We develop and test our hypotheses regarding the relationship between a firm's radical and incremental new product experience, R&D investment intensity and marketing investment intensity, and the likelihood of engaging in exploratory and exploitive licensing agreements. Using data collected from various secondary sources (Recap database, Compustat database, and FDA website), we analyzed technology licensing agreements initiated in the biotechnology and pharmaceutical industries from 1988 to 2011. The results of this study show that incumbents initiate exploratory rather than exploitative licensing agreements when they have more radical innovation experience and when they invest in R&D activities more intensively; in contrast, they initiate exploitative rather than exploratory licensing agreements when they have more incremental innovation experience and when they invest in marketing activities more intensively. The findings of this study contribute to the licensing and interfirm cooperation studies. First, this study lays a foundation to understand the organizational learning aspect of technology licensing agreements. Second, this study sheds lights on how a firm's internal investments in R&D and marketing are linked to its tendency to initiate licensing agreements along the innovation process. Finally, the findings of this study provide important insight to managers regarding which technologies to gain via licensing agreements. This study suggests that firms need to consider their internal investments in R&D and marketing as well as their past innovation experiences when they initiate licensing agreements along the process of new product innovation.

• Journal of the Korean Society of Fisheries and Ocean Technology
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• v.7 no.1
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• pp.28-38
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• 1971

There has been established bilateral and multilateral agreements of fisheries in the North Pacific, such as, the Agreements of International North Pacific Fisheries Commission, of Japan-Soviet Fisheries Commission for the Northwest Pacific and of the Furseal and King Crab. The auther reviewed these agreements and discussed about the growth of the International Fisheries Agreements in the future. This paper concerns with the present status of demersal resources which are important in commercial fisheries and caught in the North Pacific.

• Journal of Arbitration Studies
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• v.23 no.1
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• pp.25-53
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• 2013

With the Korea-China FTA negotiations currently on the line, the importance of research into the FTA dispute settlement system has been increasing. In this paper, a comparison of Korea and China's FTA dispute settlement agreements concluded with ASEAN is contemplated, and implications for the future of the Korea-China FTA have been suggested. The FTA dispute settlement agreements with ASEAN concluded by both Korea and China provide perspectives on both sides. This agreement with ASEAN also provides a standard for the potential Korea-China FTA agreement. Specifically, the basis of these agreements with ASEAN is the same, although there are clear distinctions, described in a more detailed manner. A problem arises when there has been no discussion on dispute settlement agreements in Korea, especially of the agreement with ASEAN, whereas the opposite is true of the China counterpart. In this paper, Chinese academic FTA dispute settlement agreement studies have been also examined.

• Journal of Korea Trade
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• v.27 no.1
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• pp.139-158
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• 2023

Purpose - The study of co-movements between stock markets is a crucial area of finance and has recently received much interest in a variety of studies, especially in international finance. Stock market co-movements are a major phenomenon in financial markets, but they are not necessarily independent of the real market. Several studies support the idea that bilateral trade linkages significantly impact stock market correlations. Motivated by this perspective, this study investigates whether real market integration due to trade agreements brings about financial market integration in terms of stock market co-movement. Design/methodology - Over the 10 free trade agreements (FTAs) signed by the United States, using a dynamic conditional correlations (DCC) multivariate GARCH (MGRACH) model, we empirically measure the degree of integration by finding DCCs between the US market and the partner country's market. We then track how these correlations evolve over time and compare the results before and after trade agreements. Findings - According to the empirical results, there are positive return spillover effects from the US market to eight counterpart equity markets, except Jordan, Morocco, and Singapore. Especially Mexico, Canada, and Chile have large return spillover effects at the 1% significance level. All partner countries of FTAs generally have positive correlations with the US over the entire period, but the size and variance are somewhat different by country. Meanwhile, not all countries that signed trade agreements with the United States showed the same pattern of stock market co-movement after the agreement. Korea, Mexico, Chile, Colombia, Peru, and Singapore show increasing DCC patterns after trade agreements with the US. However, Canada, Australia, Bahrain, Jordan, and Morocco do not show different patterns before and after trade agreements in DCCs. These countries generally have the characteristic of relatively lower or higher co-movements in stock markets with the US before the signing of the FTAs. Originality/value - To our knowledge, few studies have directly examined the linkages between trade agreements and stock markets. Our approach is novel as it considers the problem of conditional heteroscedasticity and visualizes the change of correlations with time variations. Moreover, analyzing several trade agreements based on the United States enables the results of cross-country pairs to be compared. Hence, this study provides information on the degree of stock market integration with countries with which the United States has trade agreements, while simultaneously allowing us to track whether there have been changes in stock market integration patterns before and after trade agreements.

• International Journal of Computer Science & Network Security
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• v.22 no.10
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• pp.155-164
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• 2022

The review of known decisions showed that currently there are no systems and technologies for supporting the decision about the possibility of concluding the civil law agreements for medical, therapeutic and dental services. The paper models the decision-making support process on the possibility of concluding the civil law agreements for medical, therapeutic and dental services, which is the theoretical basis for the development of rules, methods and system for supporting the decision about the possibility of concluding the civil law agreements for medical, therapeutic and dental services. The paper also developed the system for supporting the decision about the possibility of concluding the civil law agreements for medical, therapeutic and dental services, which automatically and free determines the possibility or impossibility of concluding the corresponding civil law agreement for the provision of a corresponding medical service. In the case of formation of a conclusion about the possibility of concluding the agreement, further conclusion and signing of the corresponding agreement takes place. In the case of forming a conclusion about the impossibility of concluding the agreement, a request is made for finalizing the relevant agreement for the provision of the relevant medical service, indicating the reasons for the impossibility of concluding the agreement - missing essential conditions in the agreement. After finalization, the agreement can be analyzed again by the developed system for supporting the decision.

• KSII Transactions on Internet and Information Systems (TIIS)
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• v.9 no.3
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• pp.843-871
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• 2015

Cloud computing evolve as a cost effective business model for IT companies to focus on their core business without perturbing on infrastructure related issues. Hence, major IT firms and Small & Medium Enterprises (SME) are adopting cloud services on rental basis from cloud providers. Cloud Service level agreements (SLA) act as a key liaison between consumers and providers on renting Anything as a Service (AaaS). Design of such an agreement must aim for greater profit to providers as well as assured availability of services to consumers. However in reality, cloud SLA is not satisfying the parties involved because of its inherent complex nature and issues. Also currently most of the agreements are unilateral to favour the provider. This study focuses on comprehensive, 360-degree survey on different aspects of the cloud service agreements. We detailed the life cycle of SLA based on negotiation, different types of SLA, current standards, languages & characteristics, metrics and issues involved in it. This study will help the cloud actors to understand and evaluate the agreements and to make firm decision on negotiation. The need for standardized, bilateral, semantic SLA has also been proposed.

• Journal of the Korean Society for Aviation and Aeronautics
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• v.17 no.2
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• pp.52-61
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• 2009

In Korea, there is great lack in jet lease agreements compared to many other countries. Due to such scarcity in numbers of jet lease agreements, problems have never truly surfaced and legal foundation dealing with such issues have not yet been formulated. However, as the globalization is making the world smaller and smaller, the demand for jets will grow. As the Korean aviation industry is expanding tremendously, although very preliminary at this time, the interest and actual execution on private jet lease agreements will grow. The prediction of increase in the private jet ownership is causing the lease industry to be nervous and may require particular preparatory foundation works. Particularly, legal analysis and detailed review maybe necessary to set a precedent with will serve as the grounded rule in the future. It is notable that Vietnam, a country which is believed have a less developed aviation industry than Korea, had already established a specialized jet leasing company, VALC in 2007. Also, when leasing an airplane from a foreign financial institution, it is possible to obtain a government issued guarantee. Therefore, it is urgent for Korea to prepare the legal foundation for the future demands in aviation leasing, as well as private jet leases which in turn would promote national wealth and further develop the financial industry.

• Korea Trade Review
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• v.42 no.2
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• pp.345-367
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• 2017

A bank payment obligation(BPO) has been introduced as a new alternative instrument for trade payments based on a technology and data-driven mechanisms aimed at facilitating an electronic trading in international trade transactions. The BPO is governed by URBPO which was in effect as of July 1, 2013. The URBPO only applies to inter-bank relationships because the BPO is bank-to-bank payment obligation, not a bank-to-customer obligation. The URBPO does not cover the interaction between a bank and their customer. For this reason, the standard bank-customer guidelines on BPO agreements were required to prepare the agreements between the banks and their customers. Accordingly, the International Chamber of Commerce established "ICC Guidelines for the creation of BPO Customer Agreements" for the settlement and development of the BPO by supporting banks in creating contracts or agreements with their customers. So, This study is to review its establishment purpose and to present the implications by analyzing the ICC guidelines. This study was based on documentary research focusing mainly on the ICC Guidelines and the appendix.

• Korean Journal of Oriental Medicine
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• v.9 no.1
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• pp.51-63
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• 2003

The international government committee is progressing their agreements about intellectual property protection of traditional knowledge(TK), gene resource(GR), folklore(FL) in WIPO. It is in the course of selection with precedence of TK, GR, FL in WlPO, focused on discussions about listing of TK documents, standardization of DB construction, sharing and profit distribution of GR. Their are disagreements between developed countries and underdeveloped countries about intellectual property protection agreements of TK, GR. The developed countries insist on using, the existing intellectual property protections, but the underdeveloped countries ask new ones on character of TK, GR, It causes intangible assets to be valuable trade properties in future world trade. We have to make national plans to face agreements about IP of TK, GR in WIPO with our own TK, GR. We must have a basic attitude about laying down these plans such as raising national economy, considering our TK, GR to be relics of mankind culture. In addition to these, it needs accurate analysis about agreements in WIPO, our TK, GR, scientific mechanical level and capital power.