• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.77
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• pp.69-89
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• 2018

The United States of America is one of the most favoring countries in which mandatory pre-arbitration clauses in the form of adhesion contract have been widely recognized and supported by courts and the Federal Arbitration Act. However, after the financial crisis in 2008 and the National Arbitration Forum scandal in 2009, in enacting the Dodd-Frank Wall Street Reform and Consumer Protection Act ('Dodd-Frank Act'), Section 1028(a) of the Act requires the newly created Consumer Financial Protection Bureau (CFPB) to provide Congress with a report on "the use of agreements providing for arbitration of any future dispute between covered persons and consumers". Section 1028(b) also grants the CFPB the authority to "prohibit or impose conditions or limitations on the use of an agreement between a covered person and a consumer for a consumer financial product or service providing for arbitration of any future dispute between the parties, if the Bureau finds that such a prohibition or imposition of conditions or limitations is in the public interest and for the protection of consumers." Pursuant to the Dodd-Frank Act, the CFPB issued a report entitled "2015 Arbitration Study: Report to Congress 2015 (Report)" in March 2015. This paper examines some major legal issues of the Report and makes a few recommendations for Korean financial institutions which entered into the U.S. financial market or has a plan to do so in the near future.

• Journal of Legislation Research
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• no.53
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• pp.419-454
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• 2017

Faced with the internationalization of capital markets, Korea needs to protect its investors and markets by applying the relevant laws extraterritorially. The Financial Investment Services and Capital Markets Act ("Capital Markets Act") explicitly introduced a new provision recognizing the extraterritoriality of the Act. While Article 2 of the Capital Markets Act comprehensively provides for prescriptive extraterritorial jurisdiction, the enactment of extraterritoriality alone does not guarantee that the Act will apply to cross-border transactions effectively. The effective extraterritorial application of an act is inseparable from the adjudicative and enforcement jurisdiction of the act. Specifically, active investigations and detections by the public regulators might be the first step for enforcing the Capital Markets Act. Unlike domestic regulations, however, multinational enforcement actions outside a regulator's home country becomes more problematic because of various obstacles. This Article examines difficulties which domestic regulators may confront in enforcing the Capital Markets Act extraterritorially and makes several recommendations for more effective multinational enforcement as follows. First, the Korean regulators should continue to foster cooperation through the IOSCO and provide international markets with the information and tools necessary for successful regulation of cross-border transactions. Second, the principle of dual criminality should be applied in a modified form for the effective mutual legal assistance in criminal matters. Third, there should be a legal device for the domestic regulator to freeze foreign wrongdoer's assets located outside Korea to repatriate those assets for distribution to defrauded investors in Korea.

• Journal of the Korean Academy of Child and Adolescent Psychiatry
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• v.24 no.2
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• pp.78-82
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• 2013

Child labor is being recognized as the key issue of human rights, and the International Labor Organization and the Convention on the Rights of the Child emphasize that children are individuals with dignity and rights. Male and female child actors belong to a profession with wide public exposure and there is a potential danger of invading classes and roles not matching the developmental stage of the child. In this study, we would like to discuss international and domestic laws and future complementary measures surrounding legal and institutional issues that need to be considered for child actors. Although the basic rights for child workers are stated in the Constitution Article 32 Paragraph 5 and Labor Standards Act Articles 64 through 70, they are insufficient. Following the revised broadcasting deliberation regulations by the Korea Communication Commission and amendment of the Juvenile Protection Law, several changes are taking place in the working environment. In certain foreign places such as California, United States, the economic and educational rights of male and female child actors are being protected. Although legal and institutional frameworks for the male and female child actors are being reinforced, more consistent devices are needed. Consideration for working hours, regulations to keep up with learning while working, and preparation for physical and emotional influences are required to keep up with international changes.

• Journal of the Korean Society for Aviation and Aeronautics
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• v.29 no.2
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• pp.117-121
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• 2021

Multi-crew Pilot License (MPL) is an international pilot certification adopted by the International Civil Aviation Organization (ICAO) in 2006 under the recognition of the need for efficient and systematic pilot training including the education of pilots with advanced aviation technology and ability to respond to flight environment, resolution of the human factor problems of pilots, and provision of stable training tools for transport aircraft pilots for potential risk of pilot shortage in the future. South Korea also has prepared a legal basis for operating an MPL system in the Aviation Act in 2009, but there has been no domestic MPL qualifier. The biggest reason for this seems to be the insufficient domestic MPL training system. Therefore, it is necessary to benchmark the international standards of the ICAO, and to promote the development of the Korean MPL training system through revision and supplementation of laws and regulations in consideration of Korean circumstances.

• The Korean Journal of Air & Space Law and Policy
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• v.25 no.1
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• pp.97-158
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• 2010

The purpose of this paper is to research on the contents and improvement of national legislations relating to space development in Korea to make the sustainable progress of space development project in Korea. Korea has launched its first satellite KITST-1 in 1992. The National Space Committee has established "The Space Development Promotion Basic Plan" in 2007. The plan addressed the development of total 13 satellites by 2010 and the space launch vehicle by 2020, and the launch of moon exploration spaceship by 2021. Korea has built the space center at Oinarodo, Goheng Province in June 2009. In Korea the first small launch vehicle KSLV-1 was launched at the Naro Space Center in August 2009, and its second launch was made in June 2010. The United Nations has adopted five treaties relating to the development of outer space as follows : The Outer Space Treaty of 1967, the Rescue and Return Agreement of 1968, the Liability Convention of 1972, the Registration Convention of 1974, and the Moon Treaty of 1979. All five treaties has come into force. Korea has ratified the Outer Space Treaty, the Rescue and Return Agreement, the Liability Convention and the Registration Convention excepting the Moon Treaty. Most of development countries have enacted the national legislation relating to the development of our space as follows : The National Aeronautic and Space Act of 1958 and the Commercial Space Act of 1998 in the United States, Outer Space Act of 1986 in England, Establishment Act of National Space Center of 1961 in France, Canadian Space Agency Act of 1990 in Canada, Space Basic Act of 2008 in Japan, and Law on Space Activity of 1993 in Russia. There are currently three national legislations relating to space development in Korea as follows : Aerospace Industry Development Promotion Act of 1987, Outer Space Development Promotion Act of 2005, Outer Space Damage Compensation Act of 2008. The Ministry of Knowledge Economy of Korea has announced the Full Amendment Draft of Aerospace Industry Development Promotion Act in December 2009, and it's main contents are as follows : (1) Changing the title of Act into Aerospace Industry Promotion Act, (2) Newly regulating the definition of air flight test place, etc., (3) Establishment of aerospace industry basic plan, establishment of aerospace industry committee, (4) Project for promoting aerospace industry, (5) Exploration development, international joint development, (6) Cooperative research development, (7) Mutual benefit project, (8) Project for furthering basis of aerospace industry, (9) Activating cluster of aerospace industry, (10) Designation of air flight test place, etc., (11) Abolishing the designation and assistance of specific enterprise, (12) Abolishing the inspection of performance and quality. The Outer Space Development Promotion Act should be revised with regard to the following matters : (1) Overlapping problem in legal system between the Outer Space Development Promotion Act and the Aerospace industry Development promotion Act, (2) Distribution and adjustment problem of the national research development budget for space development between National Space Committee and National Science Technology Committee, (3) Consideration and preservation of environment in space development, (4) Taking the legal action and maintaining the legal system for policy and regulation relating to space development. The Outer Space Damage Compensation Act should be revised with regard to the following matters : (1) Definition of space damage and indirect damage, (2) Currency unit of limit of compensation liability, (3) Joint liability and compensation claim right of launching person of space object, (4) Establishment of Space Damage Compensation Council. In Korea, it will be possible to make a space tourism in 2013, and it is planned to introduce and operate a manned spaceship in 2013. Therefore, it is necessary to develop the policy relating to the promotion of commercial space transportation industry. Also it is necessary to make the proper maintenance of the current Aviation Law and space development-related laws and regulations for the promotion of space transportation industry in Korea.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.20
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• pp.83-112
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• 2003

This study primarily concerns the Sale and Supply of Goods to Consumers Regulations 2002, focusing on the newly amended rules of the Sale of Goods Act(1979). It describes and analyzes the provisions of Regulations 2002 in a comparative way in order to provide legal advice to the sellers who plans to enter into English consumer markets. It also attempts to compare the rules of Regulations 2002 with those of CISG and to evaluate them in light of the discipline of Law and Economics the basic question of which is whether a solution from one jurisdiction may enhence 'efficiency', serving the goal of reducing negotiation costs through providing a set of default terms, and through imposing an efficient solution which may assist value maximizing exchange where disputes arise.

• Journal of Information Management
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• v.41 no.2
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• pp.133-159
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• 2010

Books in libraries can be highly refined information. Google invests digitization of books in libraries. But the digitization of books that has a variety of interests, coupled with several problems, including class action, in addition the many critical discussions are underway. Korea pushed the national digitization projects, what are libraries' digitizing their collection of many books. Of course, in publishing and digitization of the target is limited to books published ahead of Google. However, the Library Act was amended for the reposition of online materials, but only in the ways that Google's case is different. Library Act permits collection of online resources through the library to allow, the legislation can be considered as leading act. However, online data is publicly not available through the Internet, so this service hae limited means and range unlike Google. This paper, the digitization of books in the library due to copyright, examines the legal issues looking for the desirable solution. Physical library's main role had been kept the book, but we use the book in terms of policies needed to consider. To overcome these limitations of Copyright Act, this paper researches the relation of Google Book Search in our Copyright Act, and considers introduction as the fair use doctrine and the digital repository system.

• Journal of the Korean Society of Marine Environment & Safety
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• v.26 no.4
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• pp.336-345
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• 2020

Vessel Traf ic Services (VTS) is a system for ship safety and accident prevention. The International Maritime Organization (IMO), the International Association of Marine Aids to Navigation and the Lighthouse Authorities (IALA) established regulations related to VTS from an early stage. On December 3, 2019, South Korea enacted a special act called the "Act on Vessel Traffic Services (VTS Act)," which will take ef ect on June 4, 2020. In this paper, the background of this act's enactment is examined and its provisions are critically reviewed. In particular, the study intensively examines the reasons the immunity provisions for the VTS operator were removed and the current direction of improvements to the VTS Act is presented in terms of its feasibility. Most countries that do not have an Act related to VTS and its operator, refer to that of Korea. Therefore, it is necessary to reinforce the structures and definition of the VTS Act, as well as the immunity provisions for the VTS operator. The latter were removed during the National Assembly's legislation process, but were included in the initial bill, and should be reflected in subsequent revisions of the VTS Act.

• Journal of Arbitration Studies
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• v.28 no.3
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• pp.35-53
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• 2018

The purpose of this paper is to focus on the development of the arbitration system, such as the establishment of the arbitration industry and expanding the scope of arbitration fields. The solution method of arbitration differs greatly from that of the court's trial process. This can be seen in the way of autonomous conflict resolution. Therefore, the role of arbitrator is a very important function. In this sense, it seems necessary to establish a professional arbitrator system. Now the Arbitration Promotion Act has been enacted and interest in the arbitration industry is also rising. It is necessary to deal effectively with new incidents according to changes in the legal environment internationally. In order to do this, it is imperative to train professional arbitrators. A training plan for arbitration manager to assist this is now under consideration. The coming of the Fourth Industrial Revolution and the growth of artificial intelligence (AI) technology will simply stop the uniform way of determining winners by lawsuits. Even in new companies entering new markets as well as overseas companies, assistance from arbitration experts is indispensable in order to effectively deal with international trade disputes that will develop in the future. In addition to fostering the arbitration industry, it is necessary to train experts in domestic and foreign arbitration and arbitration practitioners to provide high-quality legal services. For these human resource development measures, we will explore the subject and procedural methods. The Arbitrators Association should concentrate on these matters and be cautious when focusing on the training of arbitrators and arbitration managers through the selection process. The Arbitrators Association must strengthen the level of new education (designation / consignment). Measures must be taken in order to grant such procedures as well as subsequent steps.

• International Commerce and Information Review
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• v.11 no.1
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• pp.309-331
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• 2009

In 25th April. 2008, the Korea legislature gave advance notice on the Revision Bill of Commercial Law in Insurance Division in partial, one of which is the principle of utmost good faith to be codified in accordance with the effectuation of the Revision Bill enforcement. For this, even though the disclosure duty is not included in the Revision Bill, it should also be discussed in relation to the principle of utmost good faith because it is based upon the principle of utmost good faith and forms a part of utmost good faith. In Marine Insurance industry in Korea, there are the sections and the clauses in relation to the English governing law included in the Policies and the Clauses used in Korea and, also, they still come into effect for the Korea Courts' judgements. So. we, Korea, should carefully pay attention to the trend of English courts' leading case, academic world and insurance industry on the disclosure duty in U.K. This study is thus based upon sections 17 and 18~20 of the Marine Insurance Act 1906 and sections 651, 652 and 655 of Commercial Law in Insurance Division, which appear throughout this work. The objective of this work is to analyse the duty of disclosure on Korean and English Insurance Laws including cases cited in this work, comparing the differences resulted from the analysis of the two countries‘laws and legal cases.