• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.12
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• pp.495-518
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• 1999

Since the end of World War II, the standby letters of credit have been used as a surety device, serving as a performance bond and guarantee in the world. In Korea, the standby letters of credit have been also being used in international transactions. But there have been a few studies on the standby letters of credit. This study is carrying out to reveal the characteristics of the standby letters of credit and the documentary letters of credit and also between the standby letters of credit and guarantees. Secondly, this study is carrying out to indicate types of practical use of standby letters of credit in international transactions, i.e. bid bonds, performance bonds, advanced payment guarantees etc.. Finally, this study is carrying out to indicate governig rules regarding standby letters of credit, i.e. URCG, URDG, UCP, UN Convention on Independent Guarantees and Standby Letters of Credit, ISP etc..

• Nuclear Engineering and Technology
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• v.44 no.6
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• pp.623-638
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• 2012

The volume of fluid (VOF) model of FLUENT and the lattice Boltzmann method (LBM) are used to simulate two-phase flows. Both methods are validated for static and dynamic bubble test cases and then compared to experimental results. The VOF method does not reduce the spurious currents of the static droplet test and does not satisfy the Laplace law for small droplets at the acceptable level, as compared with the LBM. For single bubble flows, simulations are executed for various Eotvos numbers, Morton numbers and Reynolds numbers, and the results of both methods agree well with the experiments in the case of low Eotvos numbers. For high Eotvos numbers, the VOF results deviated from the experiments. For multiple bubbles, the bubble flow characteristics are related by the wake of the leading bubble. The coaxial and oblique coalescence of the bubbles are simulated successfully and the subsequent results are presented. In conclusion, the LBM performs better than the VOF method.

• 전기의세계
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• v.31 no.3
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• pp.209-217
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• 1982

This paper considers a finite spectrum assignment Problem for a functional retarded linear differential system with delays in control only. In this problem, by generalizing from an abstract linear system characterized by Semigroups on a Hilbert space to a finite dimensional linear system, we unify the relationship between a control-delayed system and its non-delayed system, and then by using the spectrum of the generator-decomposition of Semigroup, we try to get a feedback law which yields a finite spectrum of the closed-loop system, located at an arbitrarily preassigned sets of n points in the complex plane. The comparative examinations between the standard spectrum assignment method and the method of spectral projection for the feedback law which consists of proportional and finite interval terms over present and past values of control variables are also considered. The analysis is carry down to the elementary spectral projection level because, in spite of all the research efforts, so far there has been no significant attempt to obtain the feedback implementation directly from the abstract representation forms in the case of multivariables.

• The Journal of Industrial Distribution & Business
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• v.7 no.4
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• pp.11-16
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• 2016

Purpose - There are numerous theories for retail trade area analysis which are designed to select candidate locations for new stores. In this study, comparative analysis on the characteristics from those of the theories are shown, and the explanation for the power in consumers' store-choice behaviors and their limitations are examined. Also, plans for improving commercial sphere analysis are explored. Research design, data, and methodology - This study is based on literature reviews with normative research methodology. Among many researches regarding the analysis on the location and commercial sphere for launching a new store, researches relying on statistics are excluded in this study since they belong to the marketing research area,. Results - In the Law of retail gravitation, Huff's model multinomial logit model and etc. are mutual complementary mathematical techniques for analyzing commercial spheres and each of them has its own characteristics. These theories rely on the same hypothesis in which consumers are all believed to be behaving rationally under a similar behavioral system. However, the trial in explaining or estimating behavior of choosing a store with only a select size of the population that is objectively estimated by some major properties has limits in its credibility. Conclusion - Research on consumer's spatial behaviors can be fully illustrative and explainable when it has both quantitative approaches such as 'law of retail gravitation', 'logit model' and etc., and qualitative approaches like consumer's 'cognitive structure', 'learning status', 'image formation', 'attitude' and etc.

• East Asian Journal of Business Economics (EAJBE)
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• v.10 no.2
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• pp.71-80
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• 2022

Purpose - It is chaotic when doing a business without legal patterns and rules; individuals who make legal decisions without legal consideration are often protecting their interests and forgetting others. This study aims to suggest key solutions how companies can make better decision based on legal considerations through investigation comprehensive literature analysis. Research design, Data, and methodology - This research conducted qualitative textual method and a technique called 'Qualitative Comparative Analysis' (QCA) can be used to understand better why certain things change while others do not. In tough situations, QCA is a strategy for comparing several occurrences. Result - Total six considerations were founded by the QCA for better corporate decision. Based on these considerations, all stakeholders, shareholders, and every employee should nominate and vote on one person to be their leader in the organization; fair practices in choosing the governor of the organization through legal binding will bring peace and order to the company. Conclusion - It was time consuming to go through every detailed material that entails legal consideration in making corporate decision. The concept of same profile in the research is critical whereby many authors are using same concept to write their articles and books. Using pure concept from one source limits the research and gives inadequate information.

• Journal of the Korean Solar Energy Society
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• v.39 no.4
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• pp.41-54
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• 2019

The proportion of solar photovoltaic power generation has steadily increased in the power trade market. Solar energy forecast is highly important for the stable trade of volatile solar energy in the existing power trade market, and it is necessary to identify accurately any forecast error according to the forecast lead time. This paper analyzes the latest study trend in solar energy forecast overseas and presents a consistent comparative assessment by adopting a single statistical variable (nRMSE) for forecast errors according to lead time and forecast technology.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.15
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• pp.7-31
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• 2001

All legal systems set out the principle of full compensation of damages, which aims to fulfil the plaintiff's expectations by putting him into as good a position as he would have been in if the contract had been performed. On the other hand, they place some limitations on the full recoverability of damages for breach of contract. In Civil Law systems, 'fault' is a necessary requirement for liability for damages, and the extent of recoverable damages is directly related to the degree of the dependent's fault. This principle, however, is not adopted by Common Law systems, in which the dependent would be liable in damages for breach of contract even though the breach was not due to his fault. The CISG is in a similar position to the latter systems. In Common Law systems as well as CISG, the extent of liability of the party in breach for damages depends on whether he foresaw or could have foreseen the damages at the time of contracting. Unlike the position in Civil Law systems, foreseeability seems to be the most effective principle to decide the extent. The tests for remoteness centre on reasonable foreseeability or contemplation of the loss. The party in breach is liable even for loss indirectly caused to the other party provided that this loss was foreseeable or contemplated by the party in breach. However, this manner to decide remoteness may lead to unreasonable results in some cases. If the party in breach were the inveterate pessimist who foresaw all sorts of possible damages, he could foresee damages too remote from the breach of duty. If this fact were revealed in the course of trial, he should be liable for such indirect damages. This is really undesirable result. Therefore, as to the remoteness test, the criterion of whether the loss is foreseen or contemplated must not be adopted. Foreseeability by reasonable person must be the only available criterion.

• Atmosphere
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• v.28 no.1
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• pp.1-13
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• 2018

Characteristics of wind resources of offshore and coastal regions were compared using wind data obtained from HeMOSU-1 (Herald of Meteorological and Oceanographic Special Unit-1) meteorological mast located at Southwestern Sea, and ground-based LiDAR (Light Detection And Ranging) at Gochang observation site near it. The analysis includes comparison of basic wind statistics such as mean wind speed, wind direction, power law exponent and their temporal variability as well as site assessment items for the wind power plant such as turbulence intensity and wind power density at the two observation sites. It was found that the wind at HeMOSU-1 site has lower diurnal and seasonal variability than that at Gochang site, which lead to smaller turbulence intensity. Overall, the results of the comparative analysis show that the wind resource at HeMOSU-1 site located offshore has more favorable condition for wind power generation than the wind resource at Gochang which shows nature of coastal area.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.55
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• pp.243-264
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• 2012

This study is aimed to analyze problems related to FTA country of origin of goods verification which is increasing from 2006 and thereby to grope for solution of such problems and seek adequate FTA performance administration. It is found, through comparative analysis and statistics of last 8 FTAs so far Korea has concluded that there are major problems such as excessive verification processing due to complicated country of origin regulation etc. This paper suggests following policies of country of origin administration ; (1) Simplification of FTA country of origin rules (2) reciprocal cooperation between each country's Customs Authorities based on trust (3) rational measurement against corresponding country's Customs Authorities' misbehavior (4) enhancement of transparency in relation to processing rule of country of origin verification (5) securing FTA country of origin verification experts. For these improvements, upcoming FTA shall rule country of origin reasonably, simplification and transparency of rule is needed for established FTAs in relation to FTA performance administration with corresponding countries. Also it is necessary to revise FTA preferential tariff law and its related laws, and carry forward policies in accordance with medium and long term plan.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.54
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• pp.99-122
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• 2012

According to the United Nations Convention on the International Sale of Goods, the Seller must deliver the goods, hand over any documents relating to the them and transfer the property the to the goods as required by the contract, and buyer must pay the price for the goods and take delivery of them as required by the contract. In particular, the seller provides the documents is important. If the documents are discrepancies in credit, the beneficiary may not receive the payment. So It is important to study on conditions of documents in international trade. Documents provided by the seller shall be determined by express terms. If there is no agreement on the express terms, it shall be determined by the implied terms or governing law terms. In practice Seller shall provide the documents are as follows, For example, transport documents, commercial invoice, certificate of origin, insurance policy, packing list, inspection certificate etc. As stated above if it can not be determined by express terms, it is determined by the implied terms. In international trade, leading to the implied terms is incoterms(R) 2010 and UCP 600. Incoterms(R) 2010 define the seller must provide the goods and the commercial in conformity with the sales contract and any other evidence of conformity that may be required by the contract and UCP 600 are rules that apply to documentary credit. This paper, the practical utility between Incoterms(R) 2010 and UCP 600 is studied.