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A Study on Space Insurance of Foreign nation's Law (외국의 우주보험 관련법 연구)

  • Cho, Hong-Je
    • The Korean Journal of Air & Space Law and Policy
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    • v.26 no.1
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    • pp.271-297
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    • 2011
  • Recently, risk of space accident possibility increased in according to commercial space activity and space debris. It failed launch satellite second times in South Korea. Therefore was discussed on liability and insurance issue. Generally, discuss of space insurance be divided two type. Firstly, space insurance relevant to launching satellite and in-orbit. Satellite Launch Insurance and In-Orbit Insurance by the Satellite Operator Secondly, space insurance relevant to Third Party Liability. The former is to protect owner of satellite and operator. The latter is to liable and indemnify owner of satellite and operator's liability. US, UK, France, Russia, South Korea forced to buy space insurance following to domestic law. This is a brief overview of risk allocation and insurance practices in the commercial space transportation industry today. We begin with traditional space transportation, i.e., commercial satellite launches. This is a mature industry with known players. Industry practices have developed and legislation has been adopted in the U.S. and other countries over the past decades to address liability and insurance issues. The primary focus here is on U.S. law, but the discussion of industry practice applies more generally. We then move on to a more exotic form of space transportation: Commercial human space flight. Several private companies are now signing up space tourists for commercial suborbital human space flight, advertised to become available in the near future. The United States amended its launch legislation in 2004 to promote commercial human space flight. But questions remain as to how this new industry will respond to the risk allocation regime established by the U.S. legislation, which leaves both the space flight operator and space tourist exposed to risk and potential liability. As a general proposition, state statutes and contractual waivers alone cannot be relied upon to provide adequate liability protection, and insurance will be required. Federally mandated contractual waivers by space flight participants or liability caps would be helpful to complement insurance solutions. Eventually, as the industry matures, such practices could be extended to an international legal regime. For all the issues mentioned above, I have studied the existing international treaties and several country's domestic law to the space by referring U.S's Commercial Space Launch Amendment Act of 2004 and concluded that uniform legal regime to govern these insurance issues should be established domestically and internationally in the future.

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The Correlations between Renminbi Fluctuations and Financial Results of Venture Companies in the Floating Exchange Rate (변동환율제도하의 위안화 환율변동과 벤처기업의 재무성과 간 상관관계 연구)

  • Sun, Zhong Yuan;Chang, Seog-Ju;Na, Seung-Hwa
    • 한국벤처창업학회:학술대회논문집
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    • 2010.08a
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    • pp.139-160
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    • 2010
  • On July 21st in 2005, People's Bank of China (PBOC) turned the currency peg against the U.S. dollar into managed currency system based on a basket of unnamed currencies under China's exchanged rate regime. This change means that China's enterprises are not free from currency fluctuations. The purpose of this study is to analyze the relations between Renminbi fluctuations in the floating exchange rate and financial results of venture companies. The process and outcomes of this study are as follows, First, in order to measure the financial results of venture companies, I choose venture companies in Shandong Province listed on the Shanghai Stock Exchange (SSE) at random and several quarter financial sheets according to safety ratios, profitability ratios, growth ratios, activity ratios. Second, I arrange the daily Renminbi exchange rate data announced from July 21st, 2005 to December 31st, 2008 by PBOC into the quarterly data. Third, in order to confirm the relations between Renminbi fluctuations and financial results of venture companies, I carry out Pearson's correlation analysis. As a result, the revaluation of the Chinese Renminbi has weakly negative effects on debt ratio, total assets turnover ratio and equity turnover ratio in statistics. But the revaluation of the Chinese Renminbi is not related to other financial index in statistics. The result of this study is that the revaluation of the Chinese Renminbi has little influence on the export and import of Chinese venture companies and certifies the fact that Chinese venture companies have much foreign currency assets. In addition to avoid the currency exposure risk, this study shows the effective method about currency exposure risk which adjusts proportion of Renminbi to foreign currency.

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Analysis of Physical Status on COVID-19: Based on Impacts of Physical Activity (COVID-19에 대한 운동중재효과 분석)

  • Kim, Kwi-Baek;Kwak, Yi Sub
    • Journal of Life Science
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    • v.31 no.6
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    • pp.603-608
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    • 2021
  • The purpose of this perspective research is to discuss the potential role of exercise-interventions in COVID-19, terms of prevention and prognosis in the periods of the COVID-19 vaccine. SARCO-CoV-2. COVID-19 was detected as a new virus causing severe cardiovascular and respiratory complications. It emerged as a global public health emergency and national pandemic. It caused more than 1 million deaths in the first 6 months of the pandemic and resulted in huge social and economic fluctuations internationally. Unprecedented stressful situations, such as COVID-19 blue and COVID-19 red impact on many health problems. In healthy individuals, COVID-19 infection may induced no symptoms (i.e., asymptomatic), whereas others may experience flu-like symptoms, such as ARDS, pneumonia, and death. Poor health status, such as obesity and cardiovascular and respiratory complications, are high risk factors for COVID-19 prevention, occurrence, and prognosis. Several COVID-19 vaccines are currently in human trials. However, the efficacy and safety of COVID-19 vaccines, including potential side effects, such as anaphylaxis (a life-threatening allergic reaction) and rare blood clots, still need to be investigated. On the basis of direct and indirect evidence, it seems that regular and moderate physical exercise can be recommended as a nonpharmacological, efficient, and safe way to cope with COVID-19. Physical inactivity and metabolic abnormalities are directly associated with reduced immune responses, including reduced innate, CMI, and AMI responses. Due to prolonged viral shedding, quarantine in inactive, obese and disease people should likely be longer than physical active people. Multicomponent and systemic exercise should be considered for the obese, disease, and elderly people. More mechanism research is needed in this area.

An Analysis of Swimming Injuries and Their Rehabilitation (근육 골격계의 질환 및 재활분석(수영선수를 중심으로))

  • Kim, Kwi-Baek;Ji, Jin-Gu;Kwak, Yi-Sub
    • Journal of Life Science
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    • v.32 no.4
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    • pp.325-330
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    • 2022
  • While swimming is a very popular competitive sports activity, swimming injuries are unique due to the repetitive nature of the swimming stroke and demanding training programs that can result in upper limb overuse. Therefore, the primary objective of this review was to analyze swimmers' injury areas, injury types by stroke type, and swimming rehabilitation, as well as to discuss safety management for improving swimming performance. In this study, the injuries incurred in swimming events were discussed in the order of upper limb injuries (neck, shoulder, arm, and wrist), lower limb injuries (knee and ankle), and waist injuries. An analysis by stroke type found that shoulder injuries occurred most often with freestyle, backstroke, and butterfly strokes, followed by rotator cuff injury, impingement syndrome, and SLAP (superior labral tear from anterior to posterior) lesions. Knee injuries were associated with the breaststroke, whereas spinal cord injuries occurred with the breaststroke and butterfly stroke. Finally, back injuries were associated with the butterfly stroke. During the freestyle stroke, the shoulder undergoes repetitive overhead movement; hence, shoulder and musculoskeletal pain are the most common and well-documented complaints of swimmers. For safety management, coaches and instructors must ensure that athletes do sufficient warm-up and cool-down exercises to avoid injuries. In case of an injury, they should be familiar with first aid measures so that secondary damage can be prevented with its quick application. In addition, coaches and instructors need to be trained in injury prevention and treatment so that they can provide appropriate rehabilitation treatment for athletes. Although swimming-related injuries cannot be completely eliminated, to reduce them to a minimum, leaders need the knowledge to apply scientific and systematic training principles and methods individualized for each athlete.