• The KIPS Transactions:PartC
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• v.9C no.3
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• pp.351-358
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• 2002

Recently, personal business styles have been rapidly changed into e-business due to the rapid progress and deployment of Internet. As a result of the change, new and safe ways of payment such as electronic wallet, electronic money and electronic check have been developed and introduced. In this paper a secure and user-friendly payment method is addressed. One of most important reasons why newly developed safe payment methods are not widely used in e-business is lack of convenience for the users. On the other hand credit card based payment, which is traditional one, is the most prevailing due to the user-friendliness. However this payment also has some problem in sense of security. In this paper, we design and implement a secure credit card-based payment system using one-time credit information. The main features are "payment information must be new", "can use the old credit system", and "do not require client software".

• Asia-Pacific Journal of Business
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• v.2 no.2
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• pp.61-78
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• 2011

Credit derivative is one kind of arrangement which allows one party to transfer, for a premium, the defined credit risk, computed with reference to a notional value, of a reference asset which may or may not owned by one or more other parties. Credit Default Swaps(CDS) have existed since the early 1990s, but its use has become increasingly popular over time. CDS is the fastest growing segment of the privately negotiated derivatives business as many firms depend on it to efficiently manage the financial market risks inherent in economic activities. The diversification function is especially important for active CDS market participants as banks. CDS banks can achieve their loan portfolio diversification which provides them with increased capacity to expand their lending.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.69
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• pp.427-451
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• 2016

With WTO system starting since 1995, the international trade business has been getting more competitive and fairer especially with the agreement on subsidies and countervailing measures. The export credit insurance, as the only institution of supporting export business under WTO system, is getting more significant in major economies as an indirect means to support export business. In China, SINOSURE has been monopolizing its export credit insurance market for a long time. Since January 2013, however, the Chinese government permitted several commercial insurers to compete in the market and they include PICC, PING AN, CPIC, China Re. This study is to discuss how to improve the Chinese export credit insurance after analyzing performance of privatization of short-term credit insurance and real cases of success and failures. With the 'Go Global' and 'One Belt, One Road' policy of Chinese government, the role of export credit insurance is expected to be more significant. Thanks to the Korea-China FTA since December 2015, international trade between the two countries will be greater especially in finance and insurance area. Because Korean insurance industry is very much interested in getting into Chinese export credit insurance market, they need to study carefully the performance of privatization of Chinese short-term export credit insurance. For their policy decision makings the Korean authorities need to get lessons from the privatization of Chinese short-term export credit insurance business.

• Journal of Korea Society of Digital Industry and Information Management
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• v.7 no.3
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• pp.63-74
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• 2011

Credit cards are more convenient than cash of heavy. Therefore, credit cards are used widely in on_line (internet) and off_line in nowadays. To use credit cards on internet is commonly secure because client identification based security card and authentication certificate. However, to use in off_line as like shop, store, department, restaurant is unsecure because of irregular accident. As client identification is not used in off_line use of credit cards, the irregular use of counterfeit, stolen and lost card have been increasing in number recently. Therefore, client identification is urgently necessary for secure card using in off_line. And the method of client identification must be simple, don't take long time, convenient for client, card affiliate and card company. In this paper, we study a reform measure of the structure and transaction process for the safety improvement of a credit cards. And we propose several authentication method of short-and long-term for client identification. In the proposal, the client authentication method by OTP application of smart-phone is efficient nowadays.

• Journal of the Korea Institute of Information Security & Cryptology
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• v.20 no.3
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• pp.9-21
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• 2010

Recently, famous online shopping websites were hit by hacking attack, and many users' personal information such as ID, password, account number, personal number, credit card number etc. were compromised. Hackers are continuing to attack online shopping websites, and the number of victims of these hacking is increasing. Especially, the exposure of credit card numbers is dangerous, because hackers maliciously use disclosed card numbers to gain money. In 2007 Financial Cryptography Conference, Ian Molly et al. firstly proposed dynamic card number generator, but it doesn't meet reuse resistant. In this paper, we analyzed security weaknesses of Ian Molly's scheme, and we proposed a new one-time virtual card number generator using a mobile device which meets security requirements of one-time virtual card numbers. Then, we propose one-time credit card number generation and transaction protocol using Integrated Authentication Center for user convenience and security enhancement.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.13
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• pp.515-536
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• 2000

This study analyzes the U.S. case law which challenges the legal conclusions of the district court with respect to the applicability, and effect, of the doctrine of waiver and estoppel in addition to the doctrine of documentary cure. The impliations are as follows. First, the documentary cure requirement can not be interpreted to mean early enough to allow the beneficiary to cure and represent the documents before the presentment deadline or expiry date of letter of credit. The mere fact that the presentment period expired before the completion of bank's review and notification process does not compel any conclusion about whether the examiner spent a reasonable amount of time examining the documents. Indeed, the reasonable time requirement does not imply that banks examine a presentation out of order or hurry a decision based upon particular needs or desires of a beneficiary. Secondly, even if the doctrine of waiver can apply to letter of credit governed by the strict compliance standard, a one-time acceptance of discrepant documents by a bank does not waive the bank's right to insist upon conforming documents in all subsequent letter of credit transactions between the bank and beneficiary. Revised UCC Article 5 is highly persuasive on this point: waiver of discrepancies by issuer or an applicant in one or more presentation does not waive similar discrepancies in a future presentation. Neither the issuer nor the beneficiary can reasonably rely upon honor over past waivers as a basis for concluding that a future defective presentation will justify honor.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.49
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• pp.111-137
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• 2011

UCP 600 Article 14(b), providing rules for the period of the examination of documents, is a radical reorganization of UCP Article 13(b). The provision changes the period of time to a maximum of five banking days instead of reasonable time. One of the critical problems giving rise to the difficulty in interpretation and application is the question of fact that there may be two possible conflicting options in determining the time of checking documents presented. The one doctrine is fixed time(safe harbor) standard, and the other is hidden reasonableness standard. This study analyzes which option should be adopted for the optimal application standard by welfare effect methodology using consumer surplus approach and suggests that safe harbor standard should be optimal solution to the determination of period of examination of documents presented in letter of credit regime.

• Journal of the Korean Society of Costume
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• v.53 no.2
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• pp.1-16
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• 2003

The purpose of this was to identify the shopping orientation and store selection criteria of credit card apparel shoppers. The subjects were credit card holding women who had experienced credit card apparel shopping at least one time during last 6 months. The results were as follows : 1. Women of 20's were segmented into multi-cards holding light users, multi-cards holding heavy users, and mono-card holding light users according their credit card numbers and the monthly credit card apparel expenditure. 2. The factors of apparel shopping orientation were pleasure, economy, brand loyalty. self-confidence. shopping plan, and fashion. And the factors of store selection criteria were additive service, store atmosphere, Product assortment, sales promotion. and product diversity. 3. Multi-card holding light users showed higher tendency in self-confidence and economy of shopping orientation, and considered additive service more. Multi-card holding heavy users showed higher tendency in pleasure. brand loyalty, self-confidence, shopping plan, and fashion of shopping orientation, and considered sales promotion and product diversity. Mono-card holding light users showed lower tendency in pleasure. brand loyalty, self-confidency, shopping plan, and fashion, and considered additive service, store atmosphere. product assortment, sales promotion, and product diversity less.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.5
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• pp.21-27
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• 2021

The financial sector is one of the most important building blocks of the economy. When this sector efficiently implemented a well-crafted program on banking and financial system to translate financial activities to income-generating activity, economic growth will be realized. Hence, this study analyzed the effect of financial intermediation on economic growth and the existence of cointegrating relationship using time-series data from 1986 to 2015. The influence of financial intermediation in terms of bank credit to bank deposit ratio, private credit, and stock market capitalization and time trend to economic growth was estimated using ordinary least squares (OLS) multiple regression. The results showed that all the financial intermediation indicators and time trend exert significant effect on Gross Domestic Product (GDP) per capita. The positive sign of the time trend indicates that there is an upward trend in GDP per capita averaging approximately 0.06 percent annually. Furthermore, the cointegration test using the Johansen procedure revealed that there is a presence of long-term equilibrium relationship between financial intermediation and time trend and economic growth, and rules out spurious regression results. This study established the idea that financial intermediation in the Philippines has a significant and vital role in stimulating growth in the economy.

• Journal of the Korean Data and Information Science Society
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• v.24 no.1
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• pp.73-83
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• 2013

Among class quantitative tests for the credit rating systems, the credit rating tests for calibration are to test the class homogeneous differences between observed and predicted probabilities. For one time period, binomial test and chi-square test are included, and normal test and extended traffic lights test are also contained for several time peroids. In this work, we consider real data in which there exists correlation among variables, so that these test methods could be applied to the credit rating systems as well as various kinds of the class data such as BWT data and FSI data.