• Journal of Korean Society of Archives and Records Management
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• v.12 no.2
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• pp.181-205
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• 2012

The study aims at providing an electronic transaction records management system based on the third party repository which do not have any interest in electronic transactions. This study reviews various articles and standards. It also discusses theoretical issues about electronic transactions and electronic transaction records. Complex characteristics of electronic transaction records are explored and management procedures are analyzed and divided into 5 stages by the life cycle and management bodies. Based on these discussions the study affirms that trustworthy third parties' interventions are essential to prevent and control potential conflicts of electronic transactions. It proposes a trustworthy electronic transaction record management system with the third party repository. Futhermore, it discusses evidence and management environment of electronic transaction records and provides cases of TTPR based on contract transaction and exchange transaction.

• Journal of Korea Trade
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• v.23 no.6
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• pp.113-130
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• 2019

Purpose - This paper investigates applicability of blockchain based bill of lading under the current legal environment. Legal requirements of electronic bill of lading will be analyzed based on the Rotterdam Rules and recently enacted UNCITRAL Model Law on Electronic Transferable Records. Using comparative analysis with the previous registry model for electronic bill of lading, this paper examines the advantages of blockchain based bill of lading. Design/methodology - This research reviewed previous efforts for dematerializing bill of lading with its limitation. Main features of blockchain technology which can make up for deficiencies of registry model also be investigated to analyze whether these features can satisfy the requirements for the legal validity of the negotiable electronic transport record or electronic transferable records under the Rotterdam Rules and the MLETR. Findings - Main findings of this research can be summarized as follows: Blockchain system operated in an open platform can improve transparency and scalability in transfer of electronic bill of lading by assuring easy access for transaction. Distributed ledger technology of blockchain makes it more difficult to forge or tamper with transactions because all participants equally shares identical transaction records. Consensus mechanism and timestamp in a blockchain transaction guarantee the integrity and uniqueness of a transaction. These features are enough to satisfy the requirements of electronic transferable records under the Rotterdam Rules and MLTER. Originality/value - This study has significance in that it provided implications for the introduction of electronic bill of lading by analyzing whether the blockchain based electronic bill of lading model meets the legal requirements under the current legal system prepared prior to the introduction of blockchain technology, and by presenting the advantages of the blockchain based bill of lading model through comparative analysis with the existing registry model.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.16
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• pp.331-359
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• 2001

Uniform Electronic Transactions Act (1999) Drafted by the National Conference of Commissioners on Uniform State Laws. The Act allows the use of electronic records and electronic signatures in any transaction, except transactions subject to the Uniform Commercial Code. The fundamental purpose of this act is to remove perceived barriers to electronic commerce. The Act's a procedural statute. It does not mandate either electronic signatures or records, but provides a means to effectuate transactions when they are used. The primary objective is to establish the legal equivalence of electronic records and signatures with paper writings and manually-signed signatures. With regard to the general scope of the Act, the Act's coverage is inherently limited by the definition of "transaction." The Act does not apply to all writings and signatures, but only to electronic records and signatures relating to a transaction, defined as those interactions between people relating to business, commercial and governmental affairs. The exclusion of specific Articles of the Uniform Commercial Code reflects the recognition that, particularly in the case of Articles 5, 8 and revised Article 9, electronic transactions were addressed in the specific contexts of those revision processes. In the context of Articles 2 and 2A the UETA provides the vehicle for assuring that such transactions may be accomplished and effected via an electronic medium. At such time as Articles 2 and 2A are revised the extent of coverage in those Articles(Acts) may make application of this Act as a gap-filling law desirable. Similar considerations apply to the recently promulgated Uniform Computer Information Transactions Act (UCITA). Another fundamental premise of the Act is that it be minimalist and procedural. The general efficacy of existing law, in an electronic context, so long as biases and barriers to the medium are removed, confirms this approach. The Act defers to existing substantive law. Specific areas of deference to other law in this Act include: i) the meaning and effect of "sign" under existing law, ii) the method and manner of displaying, transmitting and formatting information in section 8, iii) rules of attribution in section 9, and iv) the law of mistake in section 10.

• The Korean Journal of Archival Studies
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• no.11
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• pp.91-122
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• 2005

Appraisal is a basic archival function that analyzes values of records and determines the eventual disposal of records based upon their archival values. In electronic records environment, however, appraisal is different from traditional appraisal system that mainly is based on paper records. Since electronic records don't have physical entity and strongly depend on computer technologies, archivists fall into various dilemma in appraisal of electronic records. Moreover, because creation environment of electronic records is remarkably complex and diversified, appraisal of electronic records cannot be done until the later stages of the life cycle of the records. In Korea, appraisal system is founded on the Tables of Transaction for Records Scheduling through which disposal activities of all records are definite in a concrete form. However, there are little institutional infrastructures associated with appraisal of electronic records. Therefore this paper will intend to analyze characteristic features about appraisal of electronic records as a preliminary study for establishing appraisal system of electronic records in Korea. For this purpose, I have firstly compared creation environment of electronic records with traditional creation environment mainly based on paper records, and analyzed differences between appraisal of electronic records and traditional appraisal system based on paper records in view of recordness of electronic record. then I have examined functional appraisal that focuses on functions and activities in which the records are created and used, and discussed about main issues in relation to establishing appraisal system of electronic records.

• Journal of Arbitration Studies
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• v.18 no.2
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• pp.173-199
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• 2008

A letter of credit transaction of the preexistence have been raising one's head fraud charge problem as a result of abusing the principles of independence and abstraction. Every society has certain rules and conventions which it regards as important and most of people in any society. The paper document means a document in a traditional paper form. The eUCP credit must specify the formats in which electronic records are to be presented. In these present times, the issuance of documentary credit are performed by the SWIFT(Society for Worldwide Inter bank Financial Telecommunication) system. The eUCP have been written to allow for presentation completely electronically or for a mixture of paper documents and electronic presentation. Presentation is deemed not to have been made if the Beneficiary's notice is not received. An electronic record that cannot be authenticated is deemed not to have been presented. The e-UCP is the supplement of current existing UCP but is superior to UCP under some circumstances. The document shall include an electronic record. The place for presentation of electronic records means an electronic address. The current e-UCP is not clear on this matter. We have to note followings in case of presenting the documents electronically and applying the e-UCP. There are three principles in the letter of credit transaction, that is to say, independence and abstraction, document dealing, strict compliance. IN the electronic letter of credit, these principles are called as independence and abstraction, electronic document dealing, strict compliance.

• The Korean Journal of Archival Studies
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• no.6
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• pp.3-40
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• 2002

Appraisal is a basic archival function that analyzes values of records and determines the eventual disposal of records based upon their archival values. In Korea, this appraisal concept introduces in earnest through Public Records and Archives Act(PRA, 공공기관의 기록물관리에관한법률) with which Korean record management systems settle inflexibly. In theoreical and methodological area, therefore, it is necessary to analyze appraisal system in this Act with it in archival science. In PRA Act, appraisal system is founded on the Tables of Transaction for Records Scheduling(TRS, 기록물분류기준표) through which disposal activities of all records are definited in a concrete form. In this system, selection of archival materials which has been recognized as a important function of record center is carried out by record creators and archival institutions; Primary value between semi-currenty and non-currenty are reflected at the same time. In view of values, this appraisal system intends to separate reasonably consideration for continuing utility of achives from current use of records throughout agencies duration. Ultimately, appraisal based upon TRS makes up not separated management course but organic courses reflecting the Continuum of Care. Of course, this appraisal system makes up the deficiency partially. TRS regarded as 'mainboard' of current appraisal system will have to be enacted elaborately. And appraisal strategies of electronic records must set up in detail in PRA Act and TRS. Lastly, arrangement and description concepts immanent in TRS will have to supplement in archival institutions.

• The Korean Journal of Archival Studies
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• no.10
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• pp.3-26
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• 2004

ISO 15489:2001 addresses the principles and requirements with which organizations, both public and private, should comply on the management of their records to ensure that adequate records are created, captured and managed. The standard defines the characteristics that a record should have through records management system as follows: authenticity, reliability, integrity, and usability. Authenticity means that records can be proven to be what it purports to be, to have been created or sent by the person purported to have created or sent it, and to have been created or sent at the time purported. Reliability means that the contents of the records can be trusted as a full and accurate representation of the transactions, activities or facts to which they attest and can be depended upon in the course of subsequent transactions or activities. Integrity refers to ensuring that a record is complete and unaltered. Usability means that records can be located, retrieved, presented and interpreted. In order to have these characteristics, a record should be persistently linked to the metadata necessary to document a transaction. Metadata is "data describing context, content and structure of records and their management through time." Metadata ensure the creation and maintenance of authentic, reliable and usable records and the protection of the integrity of those records. It could be implemented by creating and capturing records management metadata in systems that create and manage records. There have been some projects and standard initiatives to identify a core set of records management metadata. Included are the Australian Recordkeeping Metadata Standard and the British Metadata Standard which is part of the Requirements for Electronic Records Management System. Recently ISO/TS 23081-1 is published to implement metadata requirements within the framework of ISO 15489. Public records management system in Korea is ruled by the Act on the Management of Archives by Public Agencies and Administrative Records Management Regulation. This article evaluates records and their descriptive elements captured and maintained by the records management system in Korea on the basis of the international metadata standards.

• The Korean Journal of Archival Studies
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• no.73
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• pp.47-79
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• 2022

NFT is literally a 'non-fungible token', a digital file that records specific virtual assets on a blockchain. Events such as ownership of the asset and transaction history are recorded on the blockchain through the token transaction, so counterfeiting and falsification are impossible. Therefore, NFT is used as a tool that can uniquely represent a specific virtual asset. The main purpose of this paper is to examine the characteristics of NFT from a records management point of view and to find ways to use them, and focuses on digital records that have the characteristics of assets as digital works. For this purpose, we first examine the basic concept of NFT and the principle of ownership and proof of value as an asset for digital works. In addition, it was confirmed how the advantages of NFT were applied through NFT use cases in various fields, and in particular, areas related to audio-visual records such as art, music, sports, and fashion were focused on. Furthermore, by comparing the characteristics of digital records with those of NFT, factors applicable to electronic records were identified. Finally, the types of digital records that are expected to be effective in the application of NFT were identified, and the possibility of their use and discussion points for introduction in records management are presented.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.35
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• pp.41-69
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• 2007

This study analyzes some important implications for the forthcoming revision of eUCP through the methodology of expected utility maximization theory. The overall results are as follows. First, beneficiary with an initial wealth has a risk-averse utility in traditional letter of credit transaction, and he would be more risk-averse in eUCP transaction. Secondly, the beneficiary who has risk-averse utility will pay for the risk premium to reduce the risk of corruption of an electronic record by means of cost of loss reduction activities. Thirdly, the cost of loss reduction activities is represented by a convex cost function, Fourthly, a risk averse beneficiary pursues loss reducing activities to the point where the expected marginal product of loss reduction is less than its marginal cost. Fifthly, a more risk-averse eUCP beneficiary will always select a higher level of loss reduction as long as the effectiveness of loss reduction is certain. Sixthly, when the effectiveness of loss reduction is uncertain, the more risk-averse eUCP beneficiary does not necessarily choose a higher level of loss reducing activities. Finally, it would be more reasonable that eUCP Article 11 should protect eUCP beneficiary who pursues a higher level of loss reducing activities.

• Journal of Intelligence and Information Systems
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• v.21 no.1
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• pp.161-177
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• 2015

With the rapid evolution of technology, the size, number, and the type of databases has increased concomitantly, so data mining approaches face many challenging applications from databases. One such application is discovery of fraud patterns from agricultural product wholesale transaction instances. The agricultural product wholesale market in Korea is huge, and vast numbers of transactions have been made every day. The demand for agricultural products continues to grow, and the use of electronic auction systems raises the efficiency of operations of wholesale market. Certainly, the number of unusual transactions is also assumed to be increased in proportion to the trading amount, where an unusual transaction is often the first sign of fraud. However, it is very difficult to identify and detect these transactions and the corresponding fraud occurred in agricultural product wholesale market because the types of fraud are more intelligent than ever before. The fraud can be detected by verifying the overall transaction records manually, but it requires significant amount of human resources, and ultimately is not a practical approach. Frauds also can be revealed by victim's report or complaint. But there are usually no victims in the agricultural product wholesale frauds because they are committed by collusion of an auction company and an intermediary wholesaler. Nevertheless, it is required to monitor transaction records continuously and to make an effort to prevent any fraud, because the fraud not only disturbs the fair trade order of the market but also reduces the credibility of the market rapidly. Applying data mining to such an environment is very useful since it can discover unknown fraud patterns or features from a large volume of transaction data properly. The objective of this research is to empirically investigate the factors necessary to detect fraud transactions in an agricultural product wholesale market by developing a data mining based fraud detection model. One of major frauds is the phantom transaction, which is a colluding transaction by the seller(auction company or forwarder) and buyer(intermediary wholesaler) to commit the fraud transaction. They pretend to fulfill the transaction by recording false data in the online transaction processing system without actually selling products, and the seller receives money from the buyer. This leads to the overstatement of sales performance and illegal money transfers, which reduces the credibility of market. This paper reviews the environment of wholesale market such as types of transactions, roles of participants of the market, and various types and characteristics of frauds, and introduces the whole process of developing the phantom transaction detection model. The process consists of the following 4 modules: (1) Data cleaning and standardization (2) Statistical data analysis such as distribution and correlation analysis, (3) Construction of classification model using decision-tree induction approach, (4) Verification of the model in terms of hit ratio. We collected real data from 6 associations of agricultural producers in metropolitan markets. Final model with a decision-tree induction approach revealed that monthly average trading price of item offered by forwarders is a key variable in detecting the phantom transaction. The verification procedure also confirmed the suitability of the results. However, even though the performance of the results of this research is satisfactory, sensitive issues are still remained for improving classification accuracy and conciseness of rules. One such issue is the robustness of data mining model. Data mining is very much data-oriented, so data mining models tend to be very sensitive to changes of data or situations. Thus, it is evident that this non-robustness of data mining model requires continuous remodeling as data or situation changes. We hope that this paper suggest valuable guideline to organizations and companies that consider introducing or constructing a fraud detection model in the future.