• Korea Trade Review
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• v.48 no.2
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• pp.153-174
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• 2023

Electronic bill of lading, Letter of Guarantee, Surrender B/L, Seaway Bill, etc. have been proposed as alternative tools to overcome the crisis of bill of lading, but the most useful of these is by far the Surrender B/L. However, since the Surrender B/L has various problems due to the absence of a legal basis, studies so far have been conducted focusing on these legal limitations or problems in use of the Surrender B/L. This study tried to empirically identify the factors that affect the spread of Surrender B/L by expanding this point of research view. A hierarchical regression analysis was conducted by acquiring 190 valid samples centered on member companies of the Korea International Freight Forwarders Association. In addition, the R program was used to diagnose the research data and analyze the degree of spread by region. As a result of the empirical analysis, it was found that the utilization of Surrender B/L increased due to the convenience and cost reduction effect of Surrender B/L and the apprenticeship training of forwarding companies. In addition, as a result of regional analysis, the spread of Surrender B/L was notable not only in neighboring regions but also even in areas far from Korea.

• Bulletin of the Korean Mathematical Society
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• v.58 no.2
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• pp.349-364
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• 2021

This paper studies the optimal surrender policies for a variable annuity (VA) contract with a surrender option and a fixed insurance fee for guaranteed minimum maturity benefits (GMMB). In our proposed model, a policyholder pays the fixed insurance fee. Based on the integral transform techniques, we derive the analytic integral equations for the optimal surrender boundary and the value function of the VA contract that can be solved numerically by recursive integration method. We provide numerical values for the value function, the optimal surrender boundary, and the expected optimal surrender time.

• The Korean Journal of Applied Statistics
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• v.23 no.4
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• pp.635-650
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• 2010

We model surrender rates with a few explanatory variables such as the difference between reference marke rates and product crediting rates, the policy age since the contract was issued, unemployment rates, economy growth rates, and seasonal effects using logit function. We investigate the policy holder surrender behaviors of US single premium deferred annuities(SPDA) and Korean interest indexed annuities under extreme financial conditions.

• Asia-Pacific Journal of Business
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• v.11 no.3
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• pp.229-242
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• 2020

Purpose - To study the factors that are related with compliance for the voluntary surrender program of drive's license for senior drives and to estimate the rate of voluntary surrender. Design/methodology/approach - We online surveyed 147 individuals in order to analyze the intention to comply the program. The surveyees were driver's license holders aged 54 to 65 and drawn to answer their willingness to comply in a 5-point Likert scale. We developed an ordered probit model to analyze the data. Findings - According to the main results of the empirical analysis, the higher the average number of driving per week, regardless of gender and age, the more negative was the driver toward voluntarily surrender of driver's license. Various policy measures need to be prepared to activate the voluntary surrender system using the willingness to voluntarily surrender the driver's license and the characteristics of the voluntary returners, and the implementation of customized safe driving training for elderly drivers may be one such method. Research implications or originality - Population aging is known to cause various social problems, and in the transportation field, the number of elderly drivers and traffic accidents by elderly drivers are also increasing. The government is implementing a program for elderly drivers to voluntarily surrender of their driver's licenses in order to reduce traffic accidents caused by elderly drivers. If only elderly drivers who rarely drive surrender their driver's licenses then traffic accidents may not reduce as much as the program targets, however, and further policy instruments may be needed.

• (The)Study of the Eastern Classic
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• no.37
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• pp.161-188
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• 2009

How did Japanese who surrender to Joseon reflect in old proses / Seo, Shin-hye This paper is focus on Japanese who surrender to Joseon. I researched how were these people to live through old novel, old tale and old biography. And I researched how these works reflected these people. Usually Japanese who surrender to Joseon were butchers. They were loyal to Joseon and their higher officer to a fare-thee-well. In old proses, writters compared these surrender with Joseon's general. People expect the general loyalty, but he didn't. Because of surrender's loyalty, Joseon's general was seen as an abject coward. This form came out in common in the biography of Gim Yeongcheol, the biography of Gang Hongrip and the biography of Gim Chungseon. But this fact was biased. All of Japanese surrender was not loyal, and they liked fighting in the battle. The singularity of the biography of the butcher who is Buddhist monk attracted our attention. In this work, we can see the surrender's mental conflict. We can realized the people is equal with Joseon's people.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.65
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• pp.71-94
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• 2015

The insurer's right to take legal proceedings in the name of the assured against a third party who has caused loss of or damage to the goods is of particular importance in marine cargo insurance under international trade transaction. The amounts recovered in subrogation actions, known in practice simply as recoveries, form a significant element in the balancing of the cargo insurer's underwriting account by improving ing the loss record. However, even if the carrier involved in the accident have a liability for damages, in some cases can not claim damages in accordance with the after clauses and carrier's exemption clauses indemnity carrier under the contract of carriage. In recent, the dispute cases to argue damages claim of the carrier in connection with business practices of surrender B/L, the claim is dismissed cases in accordance with the Arbitration Rules of the after clauses. In the future, the surrender B/L is continually to use as a marine transport method, it may also be interested in insurance subrogation of damages claims to insurance accident by a surrender B/L.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.69
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• pp.201-220
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• 2016

A bill of lading is a document which is signed by the carrier or his agent acknowledging that the goods have been shipped on board a named vessel bound for the destination and stating the terms on which the goods so received are to be carried. Therefore, the bill of lading is a document of title enabling the holder to obtain credit from banks before the arrival of the goods, for the transfer of the bill of lading can operate as a pledge of the goods themselves. In the other words the bill of lading creates a privity between its holder and the carrier as if the contract was made. A bill of lading, for obtaining credit from banks, must appear to indicate the carrier's name and signature, the "shipped on board" notation, the port of loading and unloading stated in the sales contract and the credit. Data in the bill of lading, when read in context with the sales contract, the credit, the bill of lading itself and international standard banking practice, need not be identical to, but must not conflict with, data in that bill of lading, any other stipulated document, the sales contract or the credit. The surrender bill of lading, stamping "surrendered" on the original bill of lading by request of the shipper, is not recognized the legal effectiveness as a document of title by the statutory law and court. The surrender bill of lading may increase the risk of impossibility of payment to the holder. Therefore, the surrender bill of lading should be used restrictively between the credible parties and suggested to avoid in the other cases.

• Communications for Statistical Applications and Methods
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• v.28 no.5
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• pp.447-462
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• 2021

In insurance, the surrender rate is an important variable that threatens the sustainability of insurers and determines the profitability of the contract. Unlike other actuarial assumptions that determine the cash flow of an insurance contract, however, it is characterized by endogenous variables such as people's economic, social, and subjective decisions. Therefore, a microscopic approach is required to identify and analyze the factors that determine the lapse rate. Specifically, micro-level characteristics including the individual, demographic, microeconomic, and household characteristics of policyholders are necessary for the analysis. In this study, we select panel survey data of Korean Retirement Income Study (KReIS) with many diverse dimensions to determine which variables have a decisive effect on the lapse and apply the lasso regularized regression model to analyze it empirically. As the data contain many missing values, they are imputed using the random forest method. Among the household variables, we find that the non-existence of old dependents, the existence of young dependents, and employed family members increase the surrender rate. Among the individual variables, divorce, non-urban residential areas, apartment type of housing, non-ownership of homes, and bad relationship with siblings increase the lapse rate. Finally, among the financial variables, low income, low expenditure, the existence of children that incur child care expenditure, not expecting to bequest from spouse, not holding public health insurance, and expecting to benefit from a retirement pension increase the lapse rate. Some of these findings are consistent with those in the literature.

• Convergence Security Journal
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• v.20 no.4
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• pp.153-159
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• 2020

Rebels emerge after the late Joseon. Hong Gyung-rae will fight against the military by gathering dissatisfaction forces with regional and status discrimination. Gasan supervisor Jung - Si in the first battle. He urged him to surrender and participate in the rebellion, but Jung - Si refused to die. Surrounding officials did not protest and surrendered to the rebels. When Hong Gyeong-rae's rebellion subsided, the most damaging thing was the death of 2,000 people who were deceived and joined by Hong Gyeong-rae's propaganda. There would have been no death of the innocent people if the officials in charge of the government had actively defended them at the beginning of the rebellion. There is a need for a historical study on the time of the Gasan supervisor Jung-Si, who refused to surrender to the rebels and fought with death.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.69
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• pp.303-326
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• 2016

The Rotterdam Rules regulate both transport documents and the legal effect of the choice of document much more comprehensively than the existing maritime convention to bring international harmonization of issues relating to transport documents. The Rotterdam Rules use the generic term 'transport documents' rather than referring to specific title such as bills of lading, sea waybills. The generic term 'transport documents' allow four types of transport documents to be identified as follows. 1. negotiable 2. negotiable which dispense with surrender 3. non-negotiable which require surrender 4. non-negotiable. Each types of transport documents has its requirements to be satisfied. Also, the choice of transport documents affects legal effect. Thus parties to the contract of carriage not only need to know how the document will be classified at the time it is issued but also consider what the documents will bring legal consequences.