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        프로젝트 파이낸스방식 수출거래에서 수출보험의 역할

        김상만 국제거래법학회 2008 國際去來法硏究 Vol.17 No.2

        Project finance is a financing scheme in which a lender is satisfied to look initially to the cash flows as the source of funds from which a loan will be repaid. The key to a successful project finance is structuring the financing of a project with as little recourse as possible to the sponsor while at the same time providing sufficient credit support through undertaking of a sponsor and other security mechanisms. To avoid direct liability, project sponsor establish a project company for the sole purpose of carrying out that project. A project company borrowes fund required for that project, and is liable for the debt. Project finance has several features compared to corporate finance. The major risks in project finance are completion risk, operation & management risk, raw material supply risk, sales risk, legal risk, country risk, etc. As a project company is a newly established without creditworthiness, the lender requires numerous securities. The most prefered security is export insurance cover by an export credit agency. Global project finance volume in 2007 increased by 20% to U$273 billion from 656 projects compared to U$227 billion from 589 transactions in 2006. Project finance marked the fifth consecutive year all-time high in both volume and deal count. The export insurances which can be used to cover risks involved in project finance are medium and long term export insurance(buyer credit), export bond insurance, and overseas investment insurance. Medium and long term export insurance(buyer credit) covers non-recovery risk of financial proceeds by a financial institution in a medium and long term loan agreement, the repayment of which exceeds two years. Export bond insurance is an export support scheme to indemnify losses of the financial institution which issued performance type guarantee. Overseas investment insurance covers investor’s(project sponsor in project finance) losses which incurred by war, expropriation, restriction on the transfer of money in a host country.

      • KCI등재

        부실기재선하증권을 발행한 해상운송인의 포장당 책임제한조항 적용가능성에 대한 연구-미국 Berisford Metals Corp. v. S/S Salvador, and A/S Ivarans Rederi(1985) 판례를 중심으로-

        김상만 국제거래법학회 2010 國際去來法硏究 Vol.19 No.2

        It has been widely acknowledged that a carrier’s liability shall be limited to certain amount per package or per an accident. In this respect, the Hague Rules,which was adopted in 1924, limits a carrier’s liability to 100 pounds per package. Numerous countries including U.S.A, Korea, accepted the Hague Rules. Nevertheless, it has been criticized that a carrier’s liability is limited even though the damage is caused by its willful or gross negligent conduct. The Hague-Visby Rules, which is an amendment to the Hague Rules, provides some an exception to the package limitation of a carrier’s liability. Korea accepted the Hague-Visby Rules, but U.S.A. didn’t. However, U.S. federal courts recognized some exceptions in case of vacant B/L, or misrepresented B/L. In Berisford case regarding misrepresented B/L, the federal court concluded that carrier must held responsible for full value of the lost cargo and cannot invoke the $500 package limitation of liability provision of COGSA. The court applied a higher standard in the event that a carrier makes a representation in a B/L with respect to its own conduct since it is reasonably expected to be aware of its own actions, including whether or not it has loaded cargo. Furthemore, the court held that the carrier’s misrepresentation amounted to a fundamental breach going to the very essence of its contract and precluding it from invoking those package limitation of liability provision.

      • KCI등재

        Correlation of Undercarboxylated Osteocalcin (ucOC) Concentration and Bone Density with Age in Healthy Korean Women

        김상만,김광민,김범택,주남석,김규남,이덕주 대한의학회 2010 Journal of Korean medical science Vol.25 No.8

        Uncarboxylated osteocalcin (ucOC) is important in evaluating vitamin K status and it is inversely associated with bone mineral density (BMD). We studied the correlationship between ucOC and BMD in healthy Korean women. This study recruited 337 healthy women between ages 20-70 were recruited. Serum ucOC, calcium, alkaline phosphatase,body mass index (BMI), and BMD were measured and compared. Mean BMI was lowest (20.3±1.9 kg/m2) in the 20 yr old group and highest (24.8±2.6 kg/m2) in the 60 yr old group. Women age 20-70 yr old had ucOC inversely related to BMD independent of other factors that may influence BMD. Serum ucOC concentration and BMD of lumbar spine showed a significant inverse relationship. Serum mean alkaline phosphatase was lowest (122±30 IU/L)in the age 30 group and highest (190.3±55.8 IU/L) in the age 60 group. Serum ucOC was inversely associated with BMI, and positively associated with alkaline phosphatase. Uncarboxylated osteocalcin (ucOC) was inversely associated with spinal BMD in healthy Korean women. Serum mean ucOC was highest in the age 20 group, followed by age 50group, which may indicate vitamin K insufficiency could be related to high bone turnover in these groups. These results suggest that vitamin K supplement may be considered to help both bone growth and bone loss during these periods.

      • 온라인 해외직구의 문제점과 개선방안에 대한 연구

        김상만 한국관세무역개발원 2024 관세무역연구 Vol.1 No.1

        정보통신기술(ICT)의 발달, 결제시스템의 발달, 스마트폰의 대중화, 쇼핑몰의 확대, 배송업체의 물류혁신 등으로 전자상거래(e-commerce) 및 국경간전자상거래(cross-border e-commerce)는 가파르게 성장하고 있다. 그리고 이에 더하여 글로벌 온라인 쇼핑몰의 확장과 모바일을 통한 구매방식 선진화로 온라인 해외직구도 급증하고 있다. 해외직구에서는 소비자가 거래의 직접 당사자가 되고, 전자상거래업체(이커머스업체)가 거래정보를 보유하며, 소량다건(少量多件)의 거래라는 특징이 있다. 해외직구 증가에 따라 전자상거래업체들은 해외구매대행 서비스를 확대하고, 개인 해외구매대행업도 성행하고 있다. 해외직구에 대해서는 150달러 이하 자가사용 물품 소액면세, 150달러 이하(미국발 물품은 200 달러 이하) 물품 목록통관 등의 편의제도가 적용된다. 해외직구 급증에 따라 해외직구 편의제도 악용, 전자상거래의 오용, 해외직구 쇼핑몰 이용자의 불만, 전자상거래업체의 갑질, 해외직구 물품의 반품과 관세 환급 문제 등 다양한 문제점이 대두되고 있다. 해외직구에서 국민 편의와 안전을 제고하고, 해외직구의 건전한 발전과 국민경제의 발전을 위해서는 해외직구의 문제점에 대한 개선이 필요하다. E-commerce and cross-border e-commerce are growing rapidly due to the development of ICT, smartphones, expansion of shopping malls, logistics innovation, etc. In addition, online overseas direct purchases are also increasing rapidly due to expansion of global online shopping malls and advancement of purchasing methods through mobile. In particular, the growth of e-commerce has been accelerated due to the recent COVID pandemic and home economy. Online overseas direct purchase types are classified into purchase agency, delivery agency, and direct purchase. With the increase in overseas direct purchases, e-commerce companies are expanding their overseas purchase agency services, and individual overseas purchase agencies are also flourishing. Convenience systems such as tax exemption for self-used goods under $150 and customs clearance for goods under $150 (not more than $200 for goods from the U. S.) will be applied to overseas direct purchases. Looking at global e-commerce retail sales, it more than doubled in five years from $1.336 trillion in 2014 to $3.351 trillion in 2019, and more than tripled to $4.248 trillion in 2020. It is expected to exceed $8 trillion in 2026. Major issues (or problems) related to overseas direct purchase include abuse of the convenience programmes for overseas direct purchase, misuse of e-commerce, complaints from users of overseas direct purchase shopping malls, return of overseas direct purchase, etc. It will be necessary to improve the problems of overseas direct purchases for the convenience and safety of the customers and for the sound development of overseas direct purchases.

      • KCI등재

        전자통신협약 관련 CLOUT Case No. 1546에 대한 고찰

        김상만 경북대학교 IT와 법연구소 2018 IT와 법 연구 Vol.0 No.16

        The United Nations Convention on the Use of Electronic Communications in International Contracts (the “Electronic Communications Convention”) was adopted on 23 November 2005, and entered into force on 1 March 2013. There are three CLOUT cases published on the Convention as of January 2018. CLOUT Case No. 1546, Australian case of 2015, deals with functional equivalence requirements between electronic and handwritten signatures, and deals with statute of fraud. The defendant owned a service station located on a highway in North Queensland, and appointed a third party to sell the service station’s freehold and business. Expressions of interest were sought and negotiations took place with representatives of the parties. Most of those negotiations were conducted by e-mail. The court found that the parties had concluded a contract for the sale of the service station. In that respect, the Court noted that the parties expressed agreement in informal terms due to their obvious desire to proceed quickly. The court found that the plaintiff had not demonstrated that it consented to the use of the chosen method in order to meet the signature requirement, the Court explained that, when parties engaged in negotiation by e-mail and, in particular, where an offer was made by e-mail, it was open to the Court to infer that consent had been given by conduct of the other party.

      • KCI우수등재
      • KCI등재
      • KCI등재

        해외직접투자에서 투자유치국법의 “수용에 대한 보장” 관련 ICSID 판정에 대한 고찰

        김상만 전북대학교 부설법학연구소 2017 法學硏究 Vol.52 No.-

        Foreign direct investment (FDI) is exposed to country risk.An expropriation risk, expropriation of the foreign investment without fair or equitable compensation, is one of the most common country risks. Hosting country’s legislation on foreign investment usually provides guarantees against expropriation without fair compensation in order to host more nvestment. In particular, states with history of expropriations have given guarantees against expropriations. However, it has been disputed that whether such an unilateral guarantee is binding on a succeeding government, particularly in case of a revolutionary change of government. In SPP v. Egypt case, aka the Pyramids Case, is the ICSID leading case concerning guarantees against expropriation. In the instant case in which the new government cancelled a tourist development project approved by the former government under Egyptian foreign investment law, jurisdiction of arbitration and governing law were at issue other than guarantees against expropriation 해외직접투자는 상업위험 외에 투자유치국의 국가위험에 노출된다. 수용위험, 즉 정당한 보상이 없는 수용은 대표적인 국가위험이다. 투자유치국의 외국투자법은 외국투자를 적극적 으로 유치하기 위하여 ‘수용에 대한 보장(guarantee against expropriation)’을 규정하는 경우 가 많다. 특히 수용의 역사가 있는 국가들은 수용에 대한 우려를 불식시키기 위하여 수용에 대한 보장을 하는 경향이 있다. 그러나 이러한 보장은 양국간의 조약의 형식이 아닌, 투자유 치국의 일방적인 보장이므로 새로운 정부가 들어서면 법 개정을 통하여 이러한 보장을 취소 하는 경우가 많다. 따라서 이러한 일방적인 보장이 새로운 정부(특히 혁명에 의한 정권 교체 의 경우)를 구속하는지 국제법적으로 다툼이 되어 왔다. SPP v. Egypt 사건(1992)은 수용에 대한 보장 관련 국제투자분쟁해결기구(ICSID)의 대표 적인 중재판정이다. 이 사건은 구정부의 외국투자법에 의해 승인된 관광개발사업이 신정부에 의해 취소된 사건으로 수용에 대한 보장 외에 중재재판의 관할권과 중재재판의 준거법 등이 쟁점이 되었다.

      • KCI등재

        한미 철강분쟁사건(WTO DS488 판정-유정용강관(OCTG))에 대한 고찰

        김상만 아주대학교 법학연구소 2018 아주법학 Vol.12 No.3

        The WTO regulates unfair trade through the Anti-dumping Agreement and the SCM Agreement. This instant dispute (DS488) concerned anti-dumping measures imposed by the United States on oil country tubular goods (OCTG) imported from Korea. In making its findings, with respect to the anti-dumping measures on OCTG, the Panel limited its review to the original determination of the US DOC. The Panel found aspects of several claims made by Korea to be outside its terms of reference, and rejected them. The Panel found that the chapeau of Article 2.2.2 of the Anti-Dumping Agreement requires that, in constructing normal value, the amounts for profits determined for an exporter or producer be based on "actual data pertaining to production and sales in the ordinary course of trade of the like product". Only when the profit amounts "cannot be determined on this basis" is an investigating authority permitted to determine profit amounts on the basis of the alternative methods set out in Articles 2.2.2(i)-(iii) of the Anti-Dumping Agreement. Concerning cost calculations, Korea claimed that the USDOC acted inconsistently with Article 2.2.1.1 of the Anti-Dumping Agreement, but the Panel found that Korea had not shown why this type of enquiry was not permitted under Article 2.2.1.1, or how the USDOC had acted inconsistently with this provision, and rejected Korea's claim. WTO는 관세인하, 비관세장벽의 철폐, 무차별원칙 등의 무역자유화를 원칙으로 하고 있으며, 보조금협정과 반덤핑협정을 통하여 불공정무역을 규제하고 있다. 이 분쟁 사건(DS488)은 한국의 대 미국 유정용강관(oil country tubular goods) 수출에 대하여 미국이 취한 반덤핑조치와 관련된다. 반덤핑조치를 취하기 위해서는 덤핑의 판정이 선행되어야 한다. 수출가격이 정상가격 이하인 경우 덤핑으로 판정되는 바, 반덤핑조치에서는 수출가격과 정상가격의 결정이 가장 중요하다. 이 사건의 핵심쟁점은 반덤핑협정 제2.2조의 정상가격결정에서 ‘제 3국 판매가격’의 인정 여부이다. 패널에서는, 반덤핑협정 제2.2조의 문언상 정상가격을 결정함에 있어서 제3국 판매가격과 추정정상가격 중에서 선택할 수 있다고 판단하 였고, 반덤핑협정 제2.2조에서는 조사당국이 정상가격을 결정함에 있어서 제3국 판매 가격과 추정정상가격 중에서 하나를 선택하기 위한 자체 기준을 수립하는 것을 금지하지 않는다고 판단하였다. 또한, 패널에서는, 반덤핑협정 제2.2.2조 본문은, 정상가격을 추정함에 있어서, 수출자 또는 생산자에 대하여 결정된 이윤 금액은 “동일 상품의 통상적인 거래에서의 생산및 판매에 대한 실제자료”에 기초해야 하며, 그것에 기초하여 이윤의 금액이 결정될수 없는 경우에만 제2.2.2조(ⅰ)∼(ⅲ)에 규정된 대안들에 기초하여 이윤의 금액을 결정할 수 있다고 판단하였다.

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