• Journal of Korea Trade
• /
• v.24 no.6
• /
• pp.19-36
• /
• 2020

Purpose - This paper analyzes how to interpret the legal view of the precedents to the UK Insurance Act 2015, comparing it to the UK Marine Insurance Act (MIA) 1906 with a focus on the relationship between the duty of uberrimae fidei and the duty of disclosure. Furthermore, this study focuses on the judgment of the Korean Supreme Court in a case, that examined whether the legal nature of the duty of disclosure or duty of uberrimae fidei in insurance law can be considered as a matter related to the insurer's liability when the applicable terms of English law are incorporated under the insurance contract. Design/methodology - This paper belongs to the field of explanatory legal study, which aims to explain and test whether the choice of law is linked to the conditions that occur in the reality of judicial practice. The approach that is used toward this problem is the legal analytical normative approach. The juridical approach involves studying and examining theories, concepts, legal doctrines and legislation that are related to the problem. Findings - Regarding the requirements and effects of breach of the duty of disclosure, if English law and the Korean Commercial Act are handled differently from each other and Korean law is recognized as the applicable law outside of the insurer's liability, it may be whether the insurer's immunity under English law is contrary to s.633 of the Korean Commercial Act. In considering the breach of the duty of disclosure as a matter of the insurer's liability, even if English law is applied as a governing law, the question of how to interpret the agreement of the governing law in this case may also be raised in the interpretation of Korean International Private Law in relation to the applicable law that applies to the rest of the matter, excluding the matters of liability. Originality/value - According to the Korean Supreme Court judgement under the governing law of the MIA 1906, the basis for recognizing the assured's pre-and post-contractual duty of disclosure is separate, and the only important matters to be notified by the assured after the conclusion of the insurance contract are those that are "relevant" and "material circumstances" that are "relevant" to the matter in question after the conclusion of the insurance contract.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
• /
• v.32
• /
• pp.3-27
• /
• 2006

The Pennzoil case and the SME case illustrate the difficulties which originate from inadequate drafting of letters of intent. In both cases the judges had to face the crucial question as to whether or not a given letter of intent had a binding nature; they had in other words to decide whether the wills expressed in such letters still belonged to the pre-contractual stage, or whether their incorporation into a pre-contractual document meant that negotiations were over and binding obligations had already arisen for the parties. In other words, some problems may occur when a party has documented a stage in the negotiations by letters of intent. The letters may well explicitly spell out if, and to what extent, the parties should be bound by what they have already agreed or to carry on negotiations in order to reach the final contract. But if the letters are silent, some problems would arise. Contracting parties are, therefore, well advised to spell out if, and to what extent, they should be bound by such preliminary agreements. Here again, it might be prudent to explicitly set forth that the parties should not be bound until there is a final written contract signed by authorized representatives of the parties but that they shall abstain from such measures which may defeat their stated objective to reach final agreement, e.g. by diminishing the value of performance under the contemplated contract.

• Journal of Information Technology Services
• /
• v.12 no.2
• /
• pp.301-319
• /
• 2013

Wireless and mobile communication technologies enable individuals who trade stocks and bonds to use mobile-based trading services. Due to rapidly developing mobile technologies and adoption of the advanced/smart mobile devices such as smart phones and tablets, the use of mobile trading systems (MTS) have increased at an unexpected rate. Although many prior studies measured service quality on various service-related fields, there are few studies that is related to mobile trading systems compared to more traditional PC-based home trading systems. This research searches determinants of service quality for mobile trading systems and examines the effects of these factors on the intention to mobile trading systems' continuous use. Through an extensive literature review, this research finds three dimensions for mobile trading systems : interaction quality, service environment quality, and service outcome quality. The result of analysis shows that personalization, connectivity, ease of use, informativeness, and monetary value enhance the intention to continuous use. Considering environmental conditions such as the high rate of MTS adoption among individual users and stiffer competition among securities firms, these findings may help practically securities firms' shaping MTS system development strategies for individual users' continuous use and for increasing new users adoption.

• The Journal of Asian Finance, Economics and Business
• /
• v.8 no.9
• /
• pp.249-260
• /
• 2021

This research explores the effects of intellectual capital on knowledge management processes (creation of information, knowledge sharing, and use of knowledge) and innovation performance. The data was gathered from 224 fashion accessories in Thailand using a questionnaire. The population was collected on December 16, 2019 (https:/www.ditp.go.th) from a list database of the Department of International Trade Promotion, Ministry of Commerce of Thailand (2019). A questionnaire mail survey technique was used to collect data. Executives or managers were the key participants in this study. The statistical technique used to analyze is the ordinary least square regression. The findings show that intellectual capital has a significant positive effect on information management systems. Likewise, information management techniques have a significant positive effect on innovation performance. Moreover, increasing the use of information tends to make staff willing to use the knowledge to improve the quality and quantity of the service. This tendency contributes to productivity gain. Through the interaction of processes of information use, self-reflection, and input from customers, employees tend to increase the production of knowledge that eventually develops the results of the innovation. Hence, organizations should value knowledge management process elements to improve efficiency, and thus innovation.

• Journal of Distribution Science
• /
• v.20 no.8
• /
• pp.123-133
• /
• 2022

Purpose: As moment-based marketing messages (i.e., messages related to current moments or event), companies put significant investments to distribute TV advertising related to external moments in a retail environment. While the literature offers strong support for the value of distributions of context-based messaging to advertisers, less attention has been given to how to design those messages to effectively communicate across channels. This research adds a new dimension of analysis to the study of advertising context and its cross-channel effects on online consumer behavior. Research Design, Data and Methodology: A system-of-equations Tobit regression model was adopted using data collected from an advertising agency that consists of 1,223 TV ads aired during the Rio Olympics and NCAA, tagging from consumers, and a text analysis. Results: First, TV ads with high centrality of context lead to lower online search behavior and higher online social actions. Second, how brands can design messages more effectively was explored by using product information as a moderator that could improve the impact of context-based TV advertisements. Conclusions: Given that expenses in traditional channels are still one of the biggest channel management decisions, it is critical to understand how consumer engagement varies by design of context-based TV advertising.

• Fashion & Textile Research Journal
• /
• v.25 no.1
• /
• pp.24-40
• /
• 2023

Contemporary consumers' acceptance of second-hand products has been increasingly improving worldwide, especially in China. Based on the Extended Unified Theory of Acceptance and Use of Technology, we developed and empirically validated a research framework to predict consumers' motivation to use re-commerce platforms. We explored the diverse factors influencing mobile commerce usage through re-commerce platforms. Furthermore, this study investigated the role of gender differences as a factor moderating the association between several constructs and the intention to use re-commerce platforms. A total of 226 consumer responses were collected. The results indicated that hedonic motivation, performance expectancy, consumer habits, social influence, and price value affect consumers' attitudes toward re-commerce platforms. The effects of the attitude toward re-commerce platforms on the intention to use these platforms were also statistically significant. When effort expectancy, hedonic motivation, and consumer habits in re-commerce platform usage increase, male consumers' attitude toward its usage, in particular, also increases. Meanwhile, when performance expectancy, hedonic motivation, and consumer habits in re-commerce platform usage increase, the attitude toward its usage increases among female consumers. Moreover, our results indicate that the two gender groups present different characteristics regarding re-commerce platform usage. Therefore, this study offers a theoretical basis for future analyses of second-hand trade.

• The Journal of Industrial Distribution & Business
• /
• v.14 no.12
• /
• pp.11-21
• /
• 2023

Purpose: This study aims to investigate the impact of mobile shopping app components on shopping flow and the continuous usage intention of the shopping apps in the rapidly growing mobile market facilitated by advancements in the mobile environment. Research Methodology: A survey was conducted, targeting users aged 20 and older with experience in using mobile shopping apps. The responses of 456 participants were analyzed through frequency analysis, exploratory factor analysis, reliability analysis, confirmatory factor analysis, and structural equation modeling. Results: The study found that within the components of mobile shopping apps, enjoyment significantly impacted both shopping flow and the continuous usage intention of shopping apps. The diversity of product assortment had a significant effect only on shopping flow. The usefulness and ease of use influenced on the intention to continue using shopping apps. Conclusions: Based on the findings, it is recommended that shopping app operators try to identify essential components for stimulating user interest and engagement when developing or modifying apps. Additionally, a diverse range of products enhances the shopping experience and drives spontaneous purchases. Furthermore, providing an easy interface and minimizing the effort required, this experience can enhance user perception of its value and sustain consumers' continuous usage intention of the shopping app.

• Journal of Korea Technology Innovation Society
• /
• v.16 no.3
• /
• pp.582-604
• /
• 2013

The machinery industry provides infrastructure to many manufacturing industries and it has strong influences on performance and quality of products. However, Korean economic growth has been constantly causing the korean general machinery industry to significantly depend on Japan. To solve this problem, many industrial policies have been tried. In this paper, we divide the value chain of general machinery industry into four steps; technology development step, manufacturing step, marketing step, and after-sales management step. We study the relationships between each of these steps and the awareness of dependency on Japan. For empirical analysis we surveyed 207 domestic companies in general machinery industry. The findings are that the three factors, technology development competency, marketing competency and after-sales management competency have significant relationships with dependence on Japan. Manufacturing competency is not a significant factor. As control variables, the type of manufacturers has effect on dependency on Japan. The company size, the kinds of products and technology levels of products don't have effects on the relationship between the four steps of the value chain and dependency on Japan. To overcome the trade imbalance with Japan in the general machinery industry, we recommend to develop technology development competency, marketing competency, and after-sale management competency. Also we need to adopt industry supporting policies, not depending on all three control variables of company sizes, the kinds of products and the technology levels of products, but depending on the type of manufacturers.

• Korea Trade Review
• /
• v.42 no.1
• /
• pp.165-188
• /
• 2017

Foreign direct investment is the means for companies to enter the overseas market and strengthen their competitiveness. The holding of intellectual properties, representing advantages of firms, may affect foreign direct investment. By expanding previous studies, we define intellectual properties as including trademarks and design as well as patents. Using a random-effect panel data model, we examine the effects of both intellectual properties of Korea and host countries on Korea's foreign direct investment in 128 countries from 1981 to 2014. The results are as follow. First, the coefficients of Korea's intellectual properties, patent, trademark, and design are significantly positive. This implies that Korean firms may invest abroad to take their advantages of technologies, brand value, and the capability of product differentiation. Second, except for patents, intellectual properties of host countries have a positive impact on foreign direct investment. In other words, foreign direct investment to acquire the ability of branding or product design from host countries may occur. Third, the coefficients of Korea's intellectual properties are significantly greater than those of host countries' properties. Foreign direct investment to take advantages of the firms' capabilities overseas is greater than one to acquire knowledge of host countries. Finally, Korea's intellectual properties have a greater positive impact on foreign direct investment in high growth countries than in low growth countries. It is interpreted that Korean firms are more motivated to exploit their intellectual properties in developing countries with a high growth than developed countries. Overall, it is confirmed that Korea's foreign direct investment not only to utilize some advantages but also to seek the brand value or product differentiation ability from host countries can occur. Our findings provide the contribution that some innovative activities in firms and R&D investments policies which encourage the possession of intellectual properties can improve foreign direct investment.

• Journal of the Korean Society of Industry Convergence
• /
• v.25 no.6_3
• /
• pp.1183-1190
• /
• 2022

Recently, the Ministry of Strategy and Finance announced a plan to reduce the proportion of economic evaluation in non-metropolitan areas and strengthen balanced development evaluation through the reorganization of the preliminary feasibility study system. In addition, the social value of the quality of life, such as job, environment, and safety, which may be affected by the implementation of transportation facility investment projects, was reflected as the main item of policy evaluation. In this study, the ripple effect of the project in terms of social value was reviewed for the Gangil-Chuncheon. The effect of highway opening was investigated by reviewing the feasibility report, post-evaluation report, and statistical indicators. Recently, the Gangil-Chuncheon highway is getting used by around 110,000 people per day. The number of tourists in Chuncheon rapidly has increased from 5 million a year to more than 11 million now. In addition, it was confirmed to produce effects such as population migration, net inflow and land price increase, improvement of living convenience, and expansion of emergency medical care. Although this ripple effect was influenced by various socio-economic factors as well as the opening of the highway, it is clear that it is difficult to occur without the opening of the highway. It is judged that the evaluation of indirect benefits and social values due to the opening of the highway can be quantified through continuous research and data construction. Post-evaluation of construction works, including project efficiency evaluation and ripple effect evaluation, is performed for construction works with a construction cost of more than 50 billion won. In the future, we will continuously improve the evaluation system in order to evaluate the indirect benefits and social values of public investment projects.