• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.25
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• pp.75-98
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• 2005

With the advent of new customs and practice of electronic records, the eUCP provides some useful guidance to accommodate the presentation of the paper documents electronically and also provides necessary rules to allow the UCP and eUCP to work together. There is no denying the fact that many of the UCP articles are not impacted by the presentation of electronic equivalent of paper documents, so the integrated application of the UCP and eUCP will be broad enough to allow for developing practice in this area. This study discusses some theoretical implication for efficient utilization of the global usages of letter of credit through the finding of optimal solution in the state of uncertainty caused by the electronic presentation of documents. This study suggest that the decision rules be developed to show how individuals choose optimal portfolio between the eUCP and the UCP that maximize their expected utility in letter of credit transaction, and also suggest that the optimal portfolio be determined at the point of tangency between the efficient trading line and the highest indifference curve in the mean-variance plane. This study finally recommends three rebuttable doctrines with regard to the relationship between the eUCP and UCP such as linkage characteristics, generation lap propensity, and homothetic application rule, which may be the critical standards for understanding of the integrated usages of the eUCP and UCP.

• The Korean Society of Law and Medicine
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• v.8 no.1
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• pp.9-34
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• 2007

Human material is considered as an independent object after departing from human body. But unlike other materials, that is not allowed for the trading because of the nature of personality. According to the present legal system, the human material is only permitted to donate to the researcher or biobank for scientific study. Bur after the collection, the human materials are regarded as a valuable assets and the collectors want to get more economic gains. If the neutral modulators serve for the justifiable circulation. The economic motivations could be prevented within material transfer processes. In real life, the neutral modulator is hard to find and most of partipants are involved in the economic interests. In this situation, it may be justifiable to permit the person who donate his body material to pursue reach through right on his material. The problem is how to measure the value of human material and how to treat the informed consent. If the essential portion of human personality is contributed to the value of human material and if only his material can be served for the invention, the tissue donator can get economic interests on his body material as his property. That is based on the rule of processing of human efforts on civil law.

• Korean Journal of Heritage: History & Science
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• v.37
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• pp.371-405
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• 2004

International circulation of cultural assets involves numerous countries thereby making an approach based on international law essential to resolving this problem. Since the end of the $2^{nd}$ World War, as the value of cultural assets evolved from material value to moral and ethical values, with emphasis on establishing national identities, newly independent nations and former colonial states took issue with ownership of cultural assets which led to the need for international cooperation and statutory provisions for the return of cultural assets. UNESCO's 1954 "Convention for the Protection of Cultural Property in the Event of Armed Conflict" as preparatory measures for the protection of cultural assets, the 1970 "Convention on the Means of Prohibiting and Preventing the Illicit Import and Transfer of Ownership of Cultural Property" to regulate transfer of cultural assets, and the 1995 "Unidroit Convention on Stolen or Illegally Exported Cultural Objects" which required the return of illegally acquired cultural property are examples of international agreements established on illegal transfers of cultural assets. In addition, the UN agency UNESCO established the Division of Cultural Heritage to oversee cultural assets related matters, and the UN since its 1973 resolution 3187, has continued to demonstrate interest in protection of cultural assets. The resolution 3187 affirms the return of cultural assets to the country of origin, advises on preventing illegal transfers of works of art and cultural assets, advises cataloguing cultural assets within the respective countries and, conclusively, recommends becoming a member of UNESCO, composing a forum for international cooperation. Differences in defining cultural assets pose a limitation on international agreements. While the 1954 Convention states that cultural assets are not limited to movable property and includes immovable property, the 1970 Convention's objective of 'Prohibiting and preventing the illicit import, export and transfer of ownership of cultural property' effectively limits the subject to tangible movable cultural property. The 1995 Convention also has tangible movable cultural property as its subject. On this point, the two conventions demonstrate distinction from the 1954 Convention and the 1972 Convention that focuses on immovable cultural property and natural property. The disparity in defining cultural property is due to the object and purpose of the convention and does not reflect an inherent divergence. In the case of Korea, beginning with the 1866 French invasion, 36 years of Japanese colonial rule, military rule and period of economic development caused outflow of numerous cultural assets to foreign countries. Of course, it is neither possible nor necessary to have all of these cultural properties returned, but among those that have significant value in establishing cultural and historical identity or those that have been taken symbolically as a demonstration of occupational rule can cause issues in their return. In these cases, the 1954 Convention and the ratification of the first legislation must be actively considered. In the return of cultural property, if the illicit acquisition is the core issue, it is a simple matter of following the international accords, while if it rises to the level of diplomatic discussions, it will become a political issue. In that case, the country requesting the return must convince the counterpart country. Realizing a response to the earnest need for preventing illicit trading of cultural assets will require extensive national and civic societal efforts in the East Asian area to overcome its current deficiencies. The most effective way to prevent illicit trading of cultural property is rapid circulation of information between Interpol member countries, which will require development of an internet based communication system as well as more effective deployment of legislation to prevent trading of illicitly acquired cultural property, subscription to international conventions and cataloguing collections.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.17 no.1
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• pp.177-189
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• 2022

This study proposes policy recommendations for the Korea New Exchange ("KONEX"), which is a financial platform for SMEs and startups that relied on indirect and policy financing in the past. SMEs and venture firms with limited human and physical listing resources can grow through market incubation, and venture capitalists expect an early exit or return on investment. However, the lack of liquidity and sluggish trading volume have weakened the function of the market. Despite prior policy efforts, the number of newly listed companies has decreased while listing demand for KOSDAQ and K-OTC has increased. This study aims to suggest short- and long-term improvements in regulations and throughout the KONEX firms' listing life cycle. First, the minimum deposit requirement on individual investors should be abolished to increase the number of investors. Second, information disclosure should be conducted by firms so that the nominated advisor can focus on discovering and supporting new listed companies. Third, in order to increase trading volume, the 5% dispersion rule should be changed to 25% dispersion incentive principle. Fourth, a new track without profit condition in expedited transfer listing should be introduced because the KOSDAQ relaxes the profit realization requirements for listing. Lastly, transfer listing without additional review for firms that fulfill ownership dispersion, information disclosure, and investor protection will strengthen the incubating role of the KONEX.

• Journal of the Korea Institute of Information Security & Cryptology
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• v.25 no.3
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• pp.615-625
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• 2015

This paper proposes new methods and examples for improving fraud detection rules based on banking customer's transaction behaviors focused on anomaly detection method. This study investigates real example that FDS(Fraud Detection System) regards fraudulent transaction as legitimate transaction and figures out fraudulent types and transaction patterns. To understanding the cases that FDS regard legitimate transaction as fraudulent transaction, it investigates all transactions that requied additional authentications or outbound call. We infered additional facts to refine detection rules in progress of outbound calling and applied to existing detection rules to improve. The main results of this study is the following: (a) Type I error is decreased (b) Type II errors are also decreased. The major contribution of this paper is the improvement of effectiveness in detecting fraudulent transaction using transaction behaviors and providing a continuous method that elevate fraud detection rules.

• Journal of Korea Trade
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• v.24 no.7
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• pp.73-92
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• 2020

Purpose - The letter of credit has been playing a major role to diminish overall risks which exist among concerned parties even though there are differences such as language, culture, law, and distance. This paper reviews essence of the letter of credit and its transaction principles, as well as overall practical questions based on the L/C transaction principle. It also investigates the risk of fraud occurrences in L/C transactions and the importance of fraud prevention and preventive measures in international L/C transactions, including the Fraud Rule, which is a major topic to consider in business transactions. Design/methodology - It is considered that an importing country's concerned parties and an exporting country's concerned parties face different situations. This study employs the existing framework to identify liability, responsibility, and obligation for all concerned parties across countries. Using a quite direct measurement of principles in the letter of credit, such as principle of independence, principle of abstraction, and principle of strictness and coincidence, we studied these differences. Findings - Our main findings can be summarized as follow. The paper enhances the efficiency of the L/C payment method to provide fraud generated from L/C transactions, presentation of a theoretical framework about fraud and fraud prevention, which international trading companies should acknowledge in a material way based on fraud risk resulting from taking advantage of L/C transaction principles. Originality/value - Existing studies focus on fraud accidents in L/C transactions by taking bad advantage of the characteristics of the letter of credit without suggesting risks of fraud. This paper attempts to evaluate and provide preventive measures as a solution for fraud and risky international business in a letter of credit transaction. This area of trade studies is underexplored, both empirically and theoretically, although the issue has long been important to Korean and world community foreign trade.

• Korean Business Review
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• v.13
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• pp.133-157
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• 2000

This paper investigate to construct a new strategic trading model which contains the broker and overconfident informed trader. Assuming more favorable situation for the broker, this paper construct a two period model. At period I overconfident informed trader and liquidity traders participate to trade. At this time the broker does not execute transaction of his own account. he only transfer customer's order by commission. At period 2, the broker identifies informed trade of previous period and he execute the trade of his own account with liquidity traders. The effects of overconfidence to the expected transaction volume and expected transaction profit, and price variability are summarized as follows: (i) As the degree of overconfidence increases, the expected transaction volume of informed trader increases. Under the restriction of moderate degree of overconfidence, it also increases the expected transaction volume of broker. In sum, overconfidence behavior of informed trader increases the expected transaction volume. (ii) As the degree of overconfidence increases, the both expected profit of informed trader and broker decrease. (iii) As the degree of overconfidence increases, unconditional variances of price for each periods increase. And as the degree of overconfidence increases, the informativeness of prices for each period increase. Finally, some limitations of this paper and direction for further research were suggested.

• Journal of Korea Port Economic Association
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• v.27 no.2
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• pp.333-354
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• 2011

After the terrorist attack of 9/11 on the USA, the security concern to global trade has been raised. In particular, the USA has actively promoted a series of initiatives and rules such as CSI, 24 hour rule, C-TPAT, and so on in the area of logistics activities, which aimed to better protect the country against the potential terrorist threats. While implementing such schemes called as a multi-layed logistics security strategy, a large number of countries trading with USA are facing with the issues of additional time and costs for inspecting cargos in their logistics facilities. As a result, most countries all over the world have sought a way to minimize the impacts from such strategy. The Korea also is preparing the several security programs operated by various ministries, which are aiming to not only improve the efficiency of trade flows but also to ensure supply chain security. However, many companies are expressing the inefficiency of operating such programs. Thus, this paper analyzed several global supply chain security programs currently adopted by international organizations(ISO, WCO, and IMO) and major countries(USA, EU, and Singapore) and suggested a guideline for developing the national logistics security system.

• Journal of Korean Society of Forest Science
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• v.25 no.1
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• pp.49-71
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• 1975

The importance of bamboo as raw material for bamboo wares and several kinds of industrial products is highly appreciated at home and abroad. But different kinds of bamboo-bundle systems have been traditionally used in the local areas. There being no reasonable bamboo-bundle system, we have a lot of difficulty in trading bamboo products and executing adrinistmative works. Therefore, a reasonable bamboo-bundle system based on scientific proofs needs to be tested and established for fair trade and administration. This study is carried out to solve the above difficulty with statistical investigation and analysis. The results obtained are as follows. 1. The larger the circles at eye-height become, the more the possibility of the largest internode covering the span between eye-height and 1/4 height increases. 2. The longest internodes are distributed according to a rule without relation to circles at eye-height. 3. The tapering grade of bamboo culms is very high and its form is almost the same without relation to its size. (Form exponent; 0.71-1.05, eye-height form factor; 0.60-0.66, 1/4 becomes, seeing that the circle grade and the percentage of actual volume height form factor; 0.61-0.69). 4. The larger the circles at eye-height are, the lower the percentage of actual volume have negative curve relation to each other. 5. It is considered that the numbers of bamboos bundled in a "Sok" is not decided according to the usefulness of bamboos, judging from the fact that the outputs of bamboo wares per "Sok" in every circle grade are not the same. 6. As the results of the regression analysis, the empirical formulae of several amounts to circles at eye-height and culm length are as follows; Volume, $${\hat{y}}_i=\bar{3}.821874+2.013181log\;C_i+0.839128log\;H_i$$ $$V=0.0066355\;C^{2.013181}\;H^{0.839128}$$ Actual volume, $${\hat{y}}_{ai}=3.915338+0.776549log\;C_i+1.857000log\;H_i$$ $$V_a=0.0082288\;C^{0.776549}\;H^{1.857000}$$ Weight, $$w_i=3.869148+1.936410log\;C_i+0.566904log\;H_i$$ $$W=0.0073986\;G^{1.936410}\;H^{0.565904}$$ 7. Korean Phyllostachys bambusoides Sieb. et Zucc. is almost the same as that of Japan in several amounts, just the same especially in the weight. 8. It is found that the bamboo-bundle systems of Korea and Japan have much closer relation to the weight than other amounts. So It is, therefore, considered that the weight is important factor in deciding bamboo-bundle system. 9. According to the item 8, I should like to propose the appropriate numbers per "Sok" adjusted on the basis of the weight in the Table 18.

• Information Systems Review
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• v.22 no.1
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• pp.59-72
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• 2020

Artificial Intelligence is establishing itself as a familiar tool from an intractable concept. In this trend, financial sector is also looking to improve the problem of existing system which includes Fraud Detection System (FDS). It is being difficult to detect sophisticated cyber financial fraud using original rule-based FDS. This is because diversification of payment environment and increasing number of electronic financial transactions has been emerged. In order to overcome present FDS, this paper suggests 3 types of artificial intelligence models, Generative Adversarial Network (GAN), Deep Neural Network (DNN), and Convolutional Neural Network (CNN). GAN proves how data imbalance problem can be developed while DNN and CNN show how abnormal financial trading patterns can be precisely detected. In conclusion, among the experiments on this paper, WGAN has the highest improvement effects on data imbalance problem. DNN model reflects more effects on fraud classification comparatively.