• 한국노년학
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• v.39 no.4
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• pp.921-939
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• 2019

According to the social selectivity theory (SST), despite the disadvantages of life conditions, older adults experience less negative emotions because they regulate their emotions by avoiding negative stimuli or situations. Based on the SST, this study attempted to find out whether older adults are better able to regulate negative emotions than young adults in the Ultimatum Game (UG). In an UG, if the proposer proposes to distribute a portion of the money to the responder, the responder must decide whether to accept or reject it. If the responder accepts the offer, the proposer and the responder can each have their own share as proposed, but if s/he reject the offer, both get nothing. Thus, if the responder considers own economic benefits, it is a more reasonable decision to accept the unfair offer no matter how low, than to reject it. To accept an unfair offer, the responder must regulate the anger felt at the proposer. If older adults could regulate anger better than young adults, they would be less likely to reject the unfair offer than young adults. Fifty-seven olders and 60 university students participated in this study. Both the older and young adults accepted most of the fair offers. In contrast, older adults accepted unfair offers at a significantly higher rate than young adults. In addition, compared to young adults, older adults reported anger less frequently at the unfair offers. Accepting unfair offers was negatively correlated with anger report, but positively correlated with the emotion regulation measured by ERQ. The ERQ score was negatively correlated with anger report. Emotion regulation partially mediated the relationship between the age groups and acceptance of unfair offers. The present results showed that older adults accepted the unfair offers at a higher rate than young adults because they could regulate the negative emotions felt at the unfair offer better than young adults. This study provided new evidence for the claim that improving emotional regulation is a major developmental change in adulthood.

• Journal of Sasang Constitutional Medicine
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• v.29 no.2
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• pp.128-135
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• 2017

Objectives The purpose of this study is to investigate economic decision-making in accordance with Sasang Constitution through Ultimatum Game. Methods 84 subjects classified as Sasang Constitution played Ultimatum Game in two session which are firstly not facing their opponents(responders) and secondly facing ones. And they were also proposed unfair offers(9:1) in the same two session. Amount of proposal and whether they accept or reject to unfair offers were observed. Results and Conclusions Taeeumin tended to offer more to his/her responder in Ultimatum Game when facing the responder then not. Taeeumin seemed to feel more burnden when he/she was facing the responder while Soyangin or Soeumin didn't.

• Journal of Arbitration Studies
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• v.19 no.2
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• pp.49-72
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• 2009

Korea Fair Trade Commission (KFTC), one of the Government agencies, has been preparing a standard model form of Exclusive Contract for Entertainment Management (hereinafter referred to as "Exclusive Contract") to eliminate some types of unfairness that placed entertainers at disadvantage such as forced PR activities or activities without payment, excessive privacy infringement, and exemption of payment after the termination of the exclusive contract. The said Exclusive Contract was drafted by The Korean Commercial Arbitration Board (the "KCAB") in association with the Korean Entertainment Law Society (the "KELS") and KCAB has persistently persuaded Corea Entertainment Management Association (the "CEMA"; mainly actors management) and Korea Entertainment Producers' Association (the "KEPA"; mainly singers management) to adopt the above-mentioned Exclusive Contract, respectively, and especially arbitration clause instead of litigation. After KCAB's tens of meetings and persuasion, they finally decided to accept KCAB's offer and they have submitted the Exclusive Contract drafted by KCAB and KELS to KFTC on April 17, 2009. The arbitration clause drafted by KCAB was already accepted by unfair contract examination division and unfair contract advisory committee and the final standard model contract was supposed to be publicly announced on June 30, 2009 after final examination of unfair contract standing committee, but the announcement has been delayed owing to severe controversies between the concerned parties, such as CEMA, KAU (Korea Artists' Union), KEPA and KSA (Korea Singers' Association) related to delicate issues like contract period and ownership of intellectual properties, etc. But it is expected the announcement will be made very soon by which the contract will include the originally drafted arbitration clause by KCAB. Therefore, it is very timely to examine the various legal issues which can be arisen out of disputes, and arbitration appropriateness with Exclusive Contract of Entertainment Management on this paper.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.46
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• pp.133-158
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• 2010

Independent guarantee is a creation of the need from the both sides, i.e. the applicant (principal debtor) and the beneficiary (creditor). The former used to have to deposit cash in favor of the beneficiary in case of his default, which laid a burden on his liquidity while the latter still wanted to have the equivalent to cash. Independent guarantee satisfied the both parties by freeing the applicant of a deposit and maintaining the beneficiary's right at the same time. The fact that independent guarantee has three payment mechanisms is not widely known to the public. They are (i) payment on first demand, (ii) payment upon submission of third-party documents, (iii) payment upon submission of an arbitral or court decision. From the applicant's point of view, the order in his favor is (iii), followed by (ii) and (i). As there shouldn't be a case where one party is at a disadvantage against the other, useful insight is being sought for the benefit of the applicant. First, the applicant can offer his intention to provide a payment mechanism (ii) or (iii) rather than (i) if he must deliver it. Second, if the beneficiary still wants to have (i) and the applicant is in a position not to reject it, the latter should thoroughly check any provisions that may work against him later. Third, the applicant could use counterbalancing provisions in underlying contract to cope with protective clauses in the guarantees. Forth, the applicant should review the beneficiary's sincerity to prevent unfair calling risks. The applicant may use an ECA(Export Credit Agency) in his country to which he can transfer not only unfair calling risks, but also political risks. On the other hand, a bank needs to keep the following advice in mind. The foremost important thing for the bank not to forget is that it provides a guarantee as a service provider, not as a responsible party for the feasibility of the project, etc. Credit risk of the applicant should require the greatest attention when issuing a guarantee: the bank should look into the possibility that it can procure immediate reimbursement from its customers after payment to the beneficiary. Second, the applicant's ability to complete the project should be reviewed by checking its track records, techniques and reputation, etc. Third, the bank may also use an ECA to cover the beneficiary's unfair calling risks as well as political risks. In the case of Korea, as Korea Export Insurance Corporation(KEIC) can cover all the risks mentioned above, the bank could use its service called 'Export Bond Insurance.' What's better for the bank is that ECA cover can enhance the bank's asset quality by putting it zero on its risk weighted asset.

• The Journal of Small Business Innovation
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• v.20 no.2
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• pp.51-66
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• 2017

Online and wireless communications have dramatically changed the contents industry marketplace. Content transactions are now instantaneous as distribution channels move from the 'mart' to smart platforms, creating opportunities for content creators large and small. Yet with opportunity comes the threat of imbalance in the industry ecosystem. In order to ensure the health and diversity of an industry that relies so heavily on the welfare of small creative enterprises, it is essential to establish rules for the fair transaction of content rights. Several structural forces may work against such rules: first, the industry consists of a large number of small distributor intermediary businesses (e.g. major publishers); second, end distributors (e. g. platforms) maintain a superior, monopsony position; and third, economic valuation of content is difficult. In terms of acquisition business model, rights transactions can be classified into three general models: (1) license model, (2) original acquisition model, and (3) monopsony model. This study explores the publishing industry in detail, considering key statutes and their operation across the models. From analysis of Korea and the US statutes and case law, and decisions of the Fair Trade Commission (FTC) of Korea, we offer evaluation criteria for discerning between fair and unfair content rights transactions. We further recommend industry practice that may enhance the likelihood for fair content rights transactions, and thus a thriving publishing ecosystem.

• The Journal of the Korea Contents Association
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• v.22 no.5
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• pp.203-213
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• 2022

This study aims to examine the impact of decline in quality of life on perceived fairness and support for real estate deregulation. The rise of dissatisfaction due to the deterioration in the quality of life can increase the blame for the unfairness of the external social system, which may boost support for government-led market regulation to correct such unfairness. This impact of perceived fairness on quality of life furthermore could be more pronounced when the prospect of upward social mobility is pessimistic. That is, when people expect that they are more likely to be the socially underprivileged who are to be more vulnerable to the fallout from the unfair operation of social system, the possibility of associating the deterioration in quality of life and the decrease in perceived fairness could be more pronounced. To test these predictions, this study used the dataset comprising a total of 6,300 survey responses and substantiated such predictions. Overall, these results not only offer an opportunity to take a more detailed look at the underlying causes of the recent rise of the issue of fairness, but also contribute to broadening the understanding of how individual support for government's deregulation of real estate varies as a function of perceived fairness and prospect of upward social mobility.

• Asia-Pacific Journal of Business
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• v.15 no.1
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• pp.193-207
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• 2024

Purpose - With the increase of non-face-to-face activities due to the spread of COVID-19, O2O industry has grown rapidly which reduces contact points between suppliers and consumers. O2O platform is now recognized as an indispensable channel of distribution, but the voice is getting louder that it is necessary to check how it contributes to the performance of suppliers or how its fee system or contract terms affects the expansion of O2O industry as the leading companies tend to monopolize the market. Design/methodology/approach - In this study, the scope was limited to the restaurant industry in which transactions are the most active among the O2O industry and a regression analysis was done on 775 businesses that had used guarantor service from the Seoul Credit Guarantee Foundation. Findings - Analysis on the impact of O2O platform system, information, and service quality on the business performance of the sole proprietors revealed that the system quality represented by ease of use and the information quality determined by level of timely, accurate and reliable information provided to the consumers have a statistically significant effect on the improvement of business performance. In addition, the effect of business performance on the loyalty measured by the likelihood of users continuing to use the service as well as recommending it to others was moderated by the satisfaction with contract terms, not by the fee system. Research implications or Originality - Although the number of O2O platform providers has increased manyfold, the membership rate is no more than 20%, which means that the small business owners are still struggling with digital transformation. In order for the O2O industry, which is now commonplace, to form a healthy ecosystem that satisfies both suppliers and consumers, the standard contract guidelines that are acceptable to both parties must be established and the O2O providers must offer services that help suppliers to improve performance.

• The Korean Society of Law and Medicine
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• v.24 no.3
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• pp.155-206
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• 2023

When a person with diminished mental capacity refuses necessary medical care, normative judgments about when paternalistic intervention can be justified come into question. A typical example is involuntary hospitalization for people with mental disabilities, traditionally governed by mental health law. However, Korean civil law reform in 2011 introduced a new form of involuntary hospitalization through guardianship legislation, leading to a dualized system to involuntary hospitalization. Consequently, a conflict has arisen between the 'best interest and surrogate decision-making' paradigm of civil law and the 'social defense and preventive detention' paradigm of mental health law. Many countries have criticized this dualized system as not only inefficient but also unfair. Moreover, the requirement for the presence of 'mental illness' for involuntary hospitalization under mental health law has faced criticism for unfairly discriminating against people with mental disabilities. In response, attempts have been made to integrate guardianship legislation and mental health law based on mental capacity. This study examines the legislative process and framework of the Mental Capacity Act (Northern Ireland) 2016, which reorganized the mental health care system by fusing guardianship legislation with mental health law based on mental capacity. By analyzing the case of Northern Ireland, which has grappled with conflicts between guardianship legislation and mental health law since the 1990s and recently proposed mental capacity as a single, non-discriminatory standard, we aimed to offer insights for the Korean guardianship and mental health systems.