• International Commerce and Information Review
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• v.10 no.4
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• pp.395-416
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• 2008

The advance information for oceangoing cargoes destined to th United States enable CBP to evaluate the potential risk of smuggling WMD and to facilitate the prompt release of legitimate cargo following its arrival in the Unites States. On January 1, 2008, CBP promulgate regulations, also known as 10+2 rule, to require the electronic transmission of additional data elements for improved high-risk targeting, including appropriate security elements of entry data for cargo destined to the United States by vessel prior to loading of such cargo on vessels at foreign seaports. The potential impact to an importer's international supply chain will be as follows ; Firstly, importers will take incremental supply chain costs and filing costs. Secondly, anticipate delay in shipment of containerized cargo. Thirdly, importers could be charged fines if they fail to file and file inaccurate or missing data. Companies exporting to the United States should be interested in 10+2 rule, analyze their current processes and procedures to ensure that they are prepared to handle the additional filing requirements of 10+2 rule. And they should focus on how 10+2 impacts their supply chain in terms of costs and sourcing. They will be necessary to revise service legal agreements with their forwarders, customs brokers or carriers in order to meet filing requirements of 10+2 rule.

• Korea Trade Review
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• v.47 no.2
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• pp.31-46
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• 2022

The purpose of this study is to measure the degree of discrepancies in the bilateral trade data between South Korea and its five major trade partners and to identify the key factors causing the discrepancies. By analyzing statistics based on the CIF/FOB ratio estimation and taking into consideration the trade flow via Hong Kong, the study finds that the discrepancies in South Korea's trade data with the US, Vietnam, and Japan are insignificant. In case of Hong Kong, however, the value of South Korea's import from Hong Kong is extensively inconsistent with Hong Kong's export to South Korea(i.e. the mirror data) while the value of South Korea's export to Hong Kong generally corresponds to its mirror data. Such discrepancies are caused by differences in recording re-exports, which are often found in the trade flow via entrepôt economics including Hong Kong. Meanwhile, discrepancies in reported bilateral trade flows between South Korea and People's Republic of China(PRC) remain relatively marginal. The discrepancy of statistics between South Korea as the exporter and PRC as the importer is mainly caused by the trade flow via Hong Kong. On the other hand, the discrepancy of statistics between South Korea as the importer and PRC as the exporter is assumably due to the differences in attribution of trade partners.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.22
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• pp.173-197
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• 2004

Letter of Credit between buyer and seller in International Trade Transaction is the means of payment which makes International Trade operate smoothly by guaranteeing an exporter against non-payment and an importer against non-delivery. Therefore, the parties to a sale apply UCP500 established by the International Chamber of Commerce, in accordance with principle of the freedom of contract among the parties concerned, to look to their own legal stability. However, we may recognize some cases to have been applied principle of faith and trust, one of the dominant principles of the civil law, by the Korean Supreme Court and other cases to have not been applied that principle by the Korean Supreme Court. The Court shall apply UCP500 strictly as long as the parties concerned adopt UCP500 in view of the legal stability. In other words, in case that the Court applies principle of faith and trust to the case related to L/C, this rule - principle of faith and trust - should apply to the subject matter which have not stipulated in UCP500 under certain restriction. We suggest keeping in mind points to korean companies as follows; First, the parties to a sale shall understand L/C basis transaction and principles related to L/C deeply. Second, the exporter shall prepare documents in compliance with L/C and fulfil his or her obligation according to UCP500 and L/C related to the contract. Third, as buyer or importer, when he or she receive the shipping documents with discrepancies from the notifying bank, he or she makes him or herself clear to all the parties concerned. Fourth, as bank, she shall examine all the documents according to UCP500 and L/C related to the contract, and if any document with discrepancies, the bank, by all means, shall approach applicant first, and then decide whether to pay the credit amount to beneficiary or not to.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.67
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• pp.97-118
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• 2015

This study reviews the judgements by the Korean Supreme Court on the time of delivery of goods, as it depends on which bonded place the goods are kept for the purpose of the customs clearance. Thereafter, this study analyzes the Ocean Carrier's liability, when the cargoes are mis-delivered without the presentation of bill of lading in relation to the specific bonded place such as an independent bonded warehouse or a self-use bonded warehouse. Furthermore, considering that voyage charter is a kind of marine transport, this study also reviews whether or not the Court's judgements, which has been developed in respect of the carriage of affreightment, could be applied to voyage charter in respect of the time of delivery goods and the Ocean Carrier's liability for mis-delivery. Lastly, in the case that the substantial importer takes the goods from the independent bonded warehouse without the presentation of bill of lading after the customs clearance, it is noted that the Court has made the Ocean Carrier liable for the mis-delivery through the application of theory of double deposit contract. The position of the Court would be understandable in terms of the protection for the bona-fide holder of bill of lading, but this study reviews the limitation of liability as the device for the protection of the Ocean Carrier, considering the situation where the Ocean Carrier is somewhat unreasonably sacrificed under the bonded system provided for the convenience of substantial importer.

• Journal of KIISE:Computing Practices and Letters
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• v.6 no.1
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• pp.68-81
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• 2000

CORBA Trader Service is to locate appropriate objects that provide the desired functionality at runtime. To provide this service, the Trader Service federates a local trader and remote traders by considering the Traders or Link policies, and it returns the service offers that are requested by the importer. This traditional way of trading reveals a performance problem due to the low response time. The response time largely depends on the amounts of service offers of the Importer's request and the frequency of federations with the other trader. The performance is a key factor for evaluating the Trader Service performance.In order to overcome the low response time and to provide the high-quality services, we propose new policies of Import and Trader, and present a PUTS(Push Trader Service) model which implements this new advanced trader service. We present the design and implementation of the PUTS's major modules, also make a comparison between PUTS system and traditional trader system in terms of performance and functionality through case studies.

• Korea Trade Review
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• v.41 no.1
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• pp.159-186
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• 2016

This study analyzes the degree of dependency and comparative advantage of each country for intermediate goods trade in East Asia, which predicts the comparative advantage of the intermediate goods trade and fragmentation in East Asia when the FTA arrangement in East Asia is implemented. The results are as follows. First, the share of intra-regional trade in the intermediate goods in East Asia has increased over time, implying the deepening of interdependency in intermediate goods trade within the East Asia. Second, Korea is a net exporter in intermediate goods trade for China and ASEAN, whereas it is a net importer for Japan. Japan is a high net exporter for all East Asia, while China is a net importer for Korea, Japan and ASEAN. If FTA arrangement in East Asia is implemented, Japan and Korea will be key suppliers of the intermediate goods for East Asia, while China and ASEAN will play a role of the manufacturing factory through the import of intermediate goods. Third, Korea has a comparative advantage in intermediate trade of electric and electronics and transport vehicle industry in East Asia. Japan has a comparative advantage in all of electric and electronics, transport vehicle, precision instrument, general machinery industry, whereas China has a comparative advantage only in electric and electronics intermediate trade in East Asia. The intra-industry trade of the intermediate goods in precision instrument, general machinery industry is expected to grow among Korea, Japan and China.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.60
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• pp.195-209
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• 2013

South Korea, despite the financial turbulences has marked the trade volume of USD 1 trillion and marked $7^{th}$ largest exporter in 2013. Approximately 40% of the entire import of Korea was for export. In the South Korean trade structure, import and export are closely related, requiring proactive import financial assistance policies. Recognizing this, K-sure has made import insurance policy available on the market since July 2010. The K-sure insurance policy targets both financial institutions and importers. This is the reason why this research seeks to review the import insurance terms for importers and compare with foreign import insurance products to find out ways to improve. K-sure's import insurance for importers is to cover a loss of a policyholder when the policyholder or importer domestically addressed made a prepayment but cannot receive goods. The import insurance is applied to import transactions of goods or resources. K-sure's import insurance coverage needs to be expanded to intermediary trade and consignment processing trade, etc. In this sense, a more systematic educational program should be introduced about K-sure's import insurance.

• The Journal of Fisheries Business Administration
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• v.17 no.1
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• pp.107-115
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• 1986

The United States is the world's leading importer of frozen processed groundfish products, with over two thirds of total world imports. Over 90% of the U.S. groundfish demand is met by inports, while about 2 million mt of groundfish are taken from U, S. waters by joint-venture and foreign fleets. The objective of this paper is to provide descriptive information concerning the U.S. groundfish market and the potential for groundfish resources off Alaska to become a major source of supply to this market. The size of the U.S. market, U.S. imports, trade policies, and catch from U.S, waters are discussed, and a comparison is made between the potential domestic catch of groundfish off Alaska and current U.S. groundfish consumption. The total optimum yield of 2.3 million mt for flounders, cod, and pollock is about four times the round weight equivalent of U.S. imports of these species in 1984.

• International Commerce and Information Review
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• v.5 no.2
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• pp.185-204
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• 2003

Electronic Clearance System in the Advanced Countries give sane hints Clearance System in Korea to improve. It is as follows. It is necessary to enhance the economical efficiency and rapidity on clearance system. It is important to improve the conveniency of importer and export through all day services in customs. It is necessary to control export and import goods efficiently for guarantee of security. Export entry data in export country has to linked with import entry data in import country to improve speedy, correctness, and efficiency. It is necessary to solve the security problems through the use of the latest cryptograph.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.34
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• pp.189-223
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• 2007

In Korea-U.S.A. FTA Negotiation, U.S.A. request to eliminate barriers of tariffs and non-tariff in trade of cosmetics. Korea applies tariffs of 8% on most cosmetics and personal care products. There are some non-tariffs barriers in cosmetics trade between Korea and U.S.A., for example, transparency on restriction and regulatory, cosmeceuticals, import clearance review, quality control testing, ingredient labelling. Tariffs of 8% on most cosmetics should be eliminated, a proviso of complementary measures on sanitation of Korean people about imported cosmetics. This is a meaning of reformation of prior management(tariffs) by strong ex post management in cosmetics trade. It is important that Korea should construct system of ex post management, for instance, construction of data base on manufacturer, importer, bland name of cosmetics and all ingredients of cosmetics. This is concerned with labelling of cosmetics and cosmeceutical and publication of Korean edition of INCI(International Nomenclature of Cosmetic Ingredient).