Earticle

정치적 이념이 다국적 기업의 국제화 전략에 영향을 미치는 영향은 학계에서 점차 주목받고 있지만, 아직까지 다국적 기업과 자국 집권 정당 간의 이념적 불일치가 이후의 해외직접투자(FDI) 입지 결정에 어떤 영향을 미치는지에 대한 연구는 부족하다. 본 연구는 FDI를 통한 탈출 동기(escape motivation)에 관한 기존의 이론적 관점을 바탕으로, 국내 시장에서 이념적 불일치를 경험한 기업들은 이념적으로 더 일치하는 국가로의 투자를 강화할 것이라고 제시한다. 또한, 본 연구는 이념적 불일치에 따른 FDI 입지 선정 경향이 기 업의 국제화 수준이 높을수록 약화될 것이라고 제시한다. 2012년부터 2020년까지 미국 제조업 다국적기업들의 FDI 데이터를 활용한 분석 결과, 본 연구의 가설들은 지지되었다. 본 연구는 다국적기업의 FDI 입지 선택을 설명함에 있어 정치적 이념의 역할을 강조한다. 또한, 자국 정부와의 이념적 거리감에 주목함으로써 정치적 이념의 관계적(relational) 성격을 강조한다.

While the effect of political ideology on corporate strategies has increasingly gained scholarly attention, research has yet to examine how ideological misalignment between firms and governments in the firms’ home countries affects FDI location decisions. Drawing on the perspective of escape motivation for FDI, this research proposes that ideological misalignment in domestic markets prompts firms to invest in ideologically aligned host countries as a strategy to mitigate the potential risks posed by domestic political discord. This study also reveals that escapism FDI behaviors driven by ideological misalignment are attenuated by the degree of firms' internationalization, suggesting that firms with extensive foreign operations are better equipped to buffer the adverse effects of home-country political ideologies. Analyzing data on PAC contributions and FDI activities of U.S. MNEs in manufacturing industries from 2012 to 2020, I find strong empirical support for the hypotheses, demonstrating how political ideology influences firms' strategic decisions in the context of international expansion. This study contributes to the understanding of political ideology by highlighting the relational nature of ideology—specifically, how divergence from the home government's ideological stance shapes firms' FDI entries into host countries with varying political environments.

국제 경영 연구들은 다국적 기업(MNEs)의 해외 투자 장소 결정에 있어 성과 피드백의 역할에 점점 더 주목하고 있지만, 대부분의 연구는 전반적인 기업 성과에 기반한 피드백의 영향에 집중해 왔다. 특히, 기존 연구들은 다국적 기업의 입지 선정이 그들이 성과 하 락을 경험한 위치에 따라 달라질 수 있는지에 대해서는 충분히 고려하지 않았다. 이에 본 연구는 기업 행동 이론(BTOF)을 바탕으로 다국적기업들이 개별 진출 국가에서 경험하는 목표 대비 성과 부족이 이들의 해외 투자 입지 선정에 어떻게 영향을 미치는지 탐구하 였다. 구체적으로, 본 연구는 다국적 기업들이 특정 진출 국가에서 성과 부족을 경험할 때 기존의 지식과 역량을 활용하여 빠른 성과 회복을 달성할 수 있는 제도적으로 유사한 국가에 투자할 가능성이 높아진다고 제시하였다. 또한, 본 연구는 성과 하락과 다국적 기업 들의 입지 선정 간 관계가 성과 하락을 경험한 진출 국가의 제도적 특수성이 높을수록 약화된다고 제시하였다. 2017년부터 2021년까 지 189개의 미국 다국적 기업들의 FDI 활동 데이터를 분석한 결과, 이와 같은 가설들이 지지되었다. 본 연구는 성과 하락이 발생한 진 출 국가의 특성이 다국적 기업의 향후 FDI 입지 선정에 영향을 미친다는 점을 강조하며, 성과 피드백과 다국적 기업의 입지 전략 간 관계에 대한 새로운 시각을 제시한다.

International business scholars have increasingly focused on the role of performance feedback in shaping MNEs' foreign investment location decisions, although most research has centered on the impact of feedback related to overall firm performance. Notably, these studies have yet to consider how MNEs' location decisions might vary depending on where they experience performance shortfalls. To address this gap, this study explored how MNEs' location choices are influenced by performance shortfalls relative to aspirations they experience in individual host countries. Specifically, the current research proposed that when MNEs experience performance shortfalls in a host country, they are more inclined to invest in countries with similar institutional characteristics, where they can leverage existing knowledge and capabilities in order to achieve swift performance recovery. Furthermore, the study suggested that the effect of performance shortfalls on MNEs’ location decisions is moderated by the degree of institutional distinctiveness of the focal host country compared to the firms’ existing portfolio of host countries. By analyzing data on 189 U.S. manufacturing MNEs' FDI activities from 2017 to 2021, I found support for the proposed hypotheses, shedding light on the nuanced dynamics of MNEs' strategic behavior. This study underscores that MNEs’ FDI location decisions are shaped by the characteristics of the host countries where they experience underperformance, offering a novel perspective on the relationship between performance feedback and MNEs’ location decisions.

본 연구는 기업 CEO가 직면하는 상대적 저임금(relative underpayment)이 성과 피드백과 인수 결정 사이의 관 계에 어떤 영향을 미치는지 탐구한다. 사회적 비교 이론(social comparison theory)과 기업 행동 이론(behavioral theory of the firm)을 기반으로, 본 연구는 동일 산업 내 유사한 규모를 가진 기업들의 CEO들에 비해 저임금을 받는 CEO들은 임금 형평성(pay equity)을 달성하고자 하는 동기를 가지게 되며, 이러한 개인적인 동기가 성과 피드백에 따른 기업 인수 결정에 영향을 미친다는 가설을 제시하였다. 2001년부터 2015년 사이 미국 제조업체 들이 완료한 인수 거래 데이터를 분석한 결과, CEO 저임금은 부정적인 성과 피드백과 인수 활동 간의 부정적인 관계를 약화시키는 것으로 나타났다. 이러한 결과는 CEO들이 저성과와 저임금이라는 이중고에 직면했을 때, 개 인의 보상 수준을 향상시킬 수 있는 인수 전략을 기업성과 하락에 대한 해결책으로 제시할 수 있음을 시사한다.

This study examines how relative CEO underpayment influences the effect of performance feedback on acquisition decisions. Drawing on social comparison theory and the behavioral theory of the firm (BTOF), the study posits that CEOs who are underpaid relative to their comparable peers are inclined to choose a strategy which is helpful in achieving pay equity and the self-interested motive, in turn, moderates the relationship between performance feedback and acquisition decisions. By analyzing data on acquisition deals completed by U.S. manufacturing firms from 2001 to 2015, I found that CEO underpayment weakens the negative relationship between negative performance feedback and acquisitions. This finding suggests that when CEOs face dual hardships of underperformance and underpayment, they may prioritize personal motives to restore their pay standing and thus select acquisition as a solution to the performance decline of their organizations.

본 연구는 조직학습(organizational learning)이 기업 간의 해외 인수계약 (cross-border acquisition, CBA) 완료 가능성과 기 간에 영향을 미치는지에 대하여 연구하였다. 본 연구에서는 조직학습이론을 바탕으로 기업의 과거 인수 성공, 실패 경험과 매 각 경험은 기업이 가진 지식을 활용하고 새로운 지식을 탐색하도록 장려하는 긍정적인 학습 효과를 가지고 있다는 점에 집중 하였다. 그리고 이러한 기업의 경험은 기업의 해외 기업인수의 거래 완료의 가능성을 높일 뿐 아니라 인수 기간도 단축할 수 있다는 가설을 제시하고 검증하였다. 1998년부터 2019년까지 국경 간 인수 거래가 이루어진 미국의 보험 산업의 기업 중 937 개의 데이터를 중심으로 가설을 검증하였다. 검증 결과 기업의 과거 인수 성공 경험과 매각 경험은 인수완료에 긍정적인 영향 을 미치고 있음을 확인하였다. 또한 기업의 과거 인수 성공 경험과 매각 경험은 인수 기간을 단축시키는 것으로 나타났다. 본 연구는 기업의 누적된 과거 성공이나 매각 경험은 기업의 해외 인수의 완료 가능성과 기간에 영향을 미친다는 점을 증명함으 로서 조직학습 이론에 기여한다는 학문적 공헌점이 있다.

This paper aims to verify the question of whether organizational learning affects the completion likelihood and duration of firms’ CBA (cross-border acquisitions) deal-making process. By drawing on the organizational learning theory, we hypothesize that firms’ past acquisition success, failure and divestiture experiences have positive learning effects that encourage firms to exploit their existing knowledge and explore new knowledge respectively, which in turn increase the likelihood of subsequent acquisition deal completion, as well as reduce the duration of the acquisition process. We test our hypotheses by using data of 937 firm’s cross-border acquisition deals in the U.S. insurance industry from 1998 to 2019. We confirmed that past success and past divesture experiences are positively associated with acquisition completion. We further confirmed that past success and past divesture reduce deal-completion durations. The findings contribute to organizational theory by confirming the firm's accumulated experiences in the past have a positive impact on the deal completion and deal duration of cross-border acquisition.

This thesis aims to analyze the aspects of 'caring labor' and 'care ethics' reflected in the Korean novel published within recent years. The ethics and values of 'care' began to be actively discussed as the de-familyization of ‘caring labor’, especially after COVID-19 emerged. In the midst of this ‘care crisis’, Korean literature is not only paying attention to the complexity of care ethics by illuminating the internal and external aspects of various subjects of care, but also presents new values of care. This paper aims to illuminate how such values of care ethics are presented in novels. In addition, this paper does not stop at reviewing the sense of crisis at the site of production/reproduction, but also reviews how to re-prize the complexity drawn by 'care ethics' to move forward to a more advanced and expanded reason for 'living together'. In Chapter 2 of this paper, through Kim Yoo-dam's ｢Ann(安)」 and ｢Special Disaster Zone｣, the ‘gender and care’ of ‘motherhood and femininity’, the 'separability or inseparability' between blood ties and family, inequality and dilemmas in ‘caring labor’ were examined. It also pointed out the fictitious structure and limitations of traditional ‘care ethics’. In Chapter 3, through Kim Yoo-dam's ｢Caring Heart」 , Kim Hye-jin's ｢Miae｣, and Park Ji-young's ｢Cuckoo, My Companion Rice Cooker｣, the reality and hierarchy of ‘caring labor’ that dismantles the boundaries of the production/reproduction, the hierarchy of power relations that arise between ‘caring beneficiaries and providers’, and practical ethics that break down gender roles and market logic were examined. In Chapter 4, through Koo Byeong-mo's ｢Ninikorachiupunda」, Park Ji-young's ｢Neighbourhood Cost for the Month｣, and Lee Ju-ran's ｢Heart for One Person｣, the ethics along with self-care were analyzed. These novels pay attention to how ‘care ethics’ that have lost reciprocity are transformed violently and present a landscape in which subjects of care on the outskirts form a new ‘care ethics’ and seek alternative caring-community.

As part of a study on the acceptance of Jingling Coterie(竟陵派) in the late Joseon Dynasty, the purpose of this paper was to examine the perceptions and acceptance patterns of Jingling Coteri of the Lee Deok-mu(李德懋), Yoo Deuk-gong(柳得恭), Park Je-ga(朴齊家), Lee Seo-gu(李書九), which were called the Hansisaga(漢詩四家). Lee Deok-mu read Jingling Coterie books and recognized their existence and arguments already in his early 20s. Lee Deok-mu particularly became to be interested in Jingling Coteri through the poem grade book titled 󰡔Sigui(詩歸)󰡕 critisized and selected by Jong Seong(鍾惺) and Dam WonChun(譚元春) and highly evaluated their features as critics based on the book. And by accepting Jingling Coterie, the poem of Lee Deok-mu showed the following characteristics remarkably. 1) Overexpression of sadness 2) Sensory and delicate expression 3) A unique and very new form of aesthetics. Currently, references to Jingling Coteri are confirmed twice, three times, and once, respectively, in the collection of writings of Yoo Deuk-gong, Park Je-ga, and Lee Seo-gu. The content is not a direct reference to criticism of Jingling Coteri literature, but only to the extent that 󰡔Sigui󰡕, Jong Seong, Dam WonChun are used as objects of comparison. Although it is called the the Hansisaga and has achieved similar literary achievements, there is a difference in perception of Jingling Coteri. The cause is 1) generational difference 2) propensity difference. As a result, Jingling Coteri was a new and interesting literary school for Lee Deok-mu, who accepted in the early period, but it was no longer a new school for the other three. In addition, the extreme sadness and bizarre descriptions pursued by the Jingling Coteri's poetry could be divided into likes and dislikes depending on individual tendencies. Therefore, it can be said that Lee Deok-mu and the other three show a difference in their position on Jingling Coteri.

There are only a handful of examples of Korean SF that talk about 'Gwangju in 1980'. However, 'Gwangju SF in 1980' is crucial in the sense that it has been identified at every major stage of political and social change since 1980. There are three main questions that this study addresses. How does the imagination that links '5･18' to 'SF' relate to and manifest in the changing social structure? To this end, we trace the emergence of '5･18 imagination' as a potential creative capacity. Why are narratives that imagine a 'Gwangju with 5･18 erased' either shunned or unable to escape political contamination even when they try? How does the sf that narrates 'Gwangju in 1980' differ from the so called non SF literature of Lim Chul woo, Yoon Jung mo, Hong Hee dam and others? The novels studied are Chae Young joo's Rogue in Time (1993), Kim Serang's ARMOR'S STORY (1993), Kang Yoo han's Return 1979 (2009-2011) and Kim Hee sun's Book of Muhan (2017). The trend line shows the changes in the terminology surrounding '5･18' from 12 December 1979 to 18 May 1980, the response of the academic publishing industry after the appeasement phase in 1984, the June Uprising and the revision of the linear system, the changes in policy towards 5･18 and reunification by regime, the birth of the Moon Min government in 1993 and the fall of the Hana Party, the policy of correcting history, and various controversies surrounding 5･18 from the turn of the century to the millennium. The methodology of this study is extrapolation, which recognises various controversies surrounding 5･18 as trend lines, and backwards calculates the trend of history leading to the occurrence of 'Gwangju SF in 1980'. To outline the process by period, in the 1980s in Korea, the idea of combining "5･18" with "SF" was not possible. The turning point came in 1993. In March 1993, Chae Young joo's Rogue in Time and Kim Serang's Armor's Story were published in the March and April 1993 issues of ‘ Chwimiga 취미가’. During the period of the People's Government and participatory government, the convergence of 'Gwangju in the 80s' and 'SF' was less pronounced. Paradoxically, it was revived during the Lee Myung bak and Park Geun hye administrations. Kang Yoo han's alternate history novel Return 1979, which renews the '5･18 imagination' from a right wing perspective, was serialised during this period (2007-2011). In 2017, the first year of the Moon Jae in administration following the impeachment of President Park Geun hye in a candlelight protest, Kim Hee sun's The Book of Muhan is published. I would like to approach '5･18 Imagination' as a discovery of SF that considers the 'slit' that is possible when it does not fall within the realm of the state or institutionalised academia, the 'slit' that does not allow it to get lost in a list of facts, interpretations and emotions that must be included.

정유정의 「7년의 밤」은 두 가정을 통해 현재 대한민국 사회의 불안과 공포, 모멸감을 부각시킨다. 낙오자인 최현수의 부정과 오영제의 가족에 대한 폭력들은 현재를 살아가는 아버지상에 대한 근원적인 성찰과 질문을 던지게 한다. 오영제가 보여주는 사이코패스에 가까운 캐릭터는 우리사회가 안고 있는 사회병리적 문제들을 일정부분 투영한다. 이 소설은 광기로 점철된 괴물 같은 두 남자의 대립과 사건들의 연속으로 끊임없는 긴장과 공포를 조성하고, 댐의 물을 방출하며 한 마을과 숲 전체가 수몰되는 엄청난 범죄로 스펙터클을 연출한다. 작가는 이러한 과정들을 치밀하게 묘사한다. 우리나라 소설들이 사회문화적 맥락에 집중하는 경향이 짙다보니 서사전개의 긴박감과 스펙터클이 부족했던 것도 사실인데 정유정은 이를 일정 정도 유지하면서도 스릴러 본연의 장르적 전개를 충실하게 재현하고 있다. 따라서 이 소설이 가진 몇 가지 한계에도 불구하고, 우리 소설에는 아직까지 드문 스릴러 장르의 특성과 작가 나름의 개성을 녹여낸 점은 이 장르의 전망에 청신호일 가능성이 높다.

Jeung, yoo-jeung’s ‘The night of the 7th years’ bring out the present Korea’s anxiety, horror, contempt through two families. The father’s attachment of a failure Choi Huyn-soo and the family violence by Oh Young-jae take some time for introspection what is a true father’s image. Oh Young-jae represent psychopath character that the author express korea’s social pathology problems. Then two madness men as like monster are in confrontation with each other over revenge, the reader feel horror and suspense. And the novel create a spectacle scene that dam release great water, as a result a village around the dam is in danger of being submerged. The crime is done by Choi Huyn-soo. Jeung, yoo-jeung describe minutely those situation. In truth most Korea’s mystery novel treat urgent narratives and spectacle poorly because they are more concerned with Korea’s social context. Otherwise Jeung, yoo-jeung show a special thriller genre quality. This novel has some weakness, yet show development possibility over the author personality, genre feature.

이 연구는 수몰이주민의 문제를 다룬 소설을 중심으로 근대화 과정에서 무조건적 희생을 강요당한 수몰민의 고통을 서사화하는 방식과 그 의미를 고찰한 것이다. 한국의 근대화 과정에서 물은 핵심적인 관리의 대상이었고, 그 일환으로 대형다목적댐 건설이 이뤄졌다. 문제는 댐 건설 과정에서 일방적인 희생을 강요당한 수몰민들의 문제는 제대로 부각되지 못했다는 점이다. 그런 이유에서 수몰민을 다룬 소설은 제대로 기억되지 못한 수몰민의 상실감과 고통을 기억하는 장치이자 그들의 기억을 지속시킬 수 있는 저장소다. 또한 제대로 기억되지 못한 수몰민의 고통에 주목한 작가들은 수몰민의 상실감과 고통에 공감하며 그들을 기억하고자 하는 책임감과 사명감을 지닌 소설가이자 기록자라 할 수 있다. 그런 의미에서 그들의 소설은 작가들의 고통스러운 애도 행위이기도 하다. 『운암강』의 작가인 김여화는 섬진강댐 건설로 물에 잠긴 입석리 잿말의 수몰민을 가까이서 지켜본 작가로서 아무도 기억해주지 않는 섬진강댐 수몰민의 이야기를 소설로 담아냈다. 김여화의 소설로 강물에 묻혀 버린 입석리 잿말의 이야기가 다시 살아난다. 「징소리」의 작가인 문순태는 장성댐 건설로 고향 수몰을 직접 경험한 세대로, 소설에서 댐 건설로 고향을 잃고 난민이 되어 도시를 떠돌아야 했던 수몰민의 고향 상실의 아픔과 고통을 드러낸다. 『바람꽃은 시들지 않는다』의 유안진 또한 임하댐 건설로 고향을 잃은 수몰세대로, 댐 건설로 오래된 씨족 공동체 마을이 물에 잠기게 되면서 주민들이 겪었던 애환을 생생하게 보여준다. 이들 세 작가들이 수몰을 서사화한 것은 그들 스스로가 수몰을 직간접적으로 경험해서만은 아니다. 이는 자신들의 경험을 떠나 각자 취약한 인간으로서 타인의 고통에 가슴 깊이 아파하고 공감하며 애도하는, 잊지 않아야 할 것을 문학적으로 기억하는 윤리적 기억 행위이다.

This study examines the method and meaning of narrating the suffering of the submerged migrants who were forced to make unconditional sacrifices during the modernization process, focusing on novels that deal with the problem of submerged migrants. During the modernization process of Korea, water was a key management target, and as part of this, large multipurpose dams were built. The problem is that the problems of the submerged migrants who were forced to make unilateral sacrifices during the dam construction process have not been properly highlighted. For that reason, novels dealing with submerged migrants are a device to remember the loss and pain of the displaced people who have not been properly remembered, and a repository that can sustain their memories. Also, the writers who paid attention to the suffering of the submerged migrants, who were not properly remembered, can be said to be novelists and recorders who sympathize with the loss and suffering of the submerged migrants and have a sense of responsibility and mission to remember them. In that sense, their novels are also the writers' painful acts of mourning. Kim Yeo-hwa, the author of “Un-am River,” closely observed the displaced people of Ipseok-ri, which was submerged in water due to the construction of the Seomjin River Dam. She has captured the story of the submerged migrants of Seomjin River Dam, which no one remembers, in a novel. The story of the Ipseok-ri Jaesmal that was buried in the river comes back to life through Kim Yeo-hwa’s novel. Moon Soon-tae, the author of “Jingsori,” is from a generation that experienced the submergence of his hometown due to the construction of the Jangseong Dam. In his novel, he reveals the pain and suffering of the people who lost their hometowns due to the construction of the dam and were forced to wander the city as refugees. Yoo An-jin of "The Wind Flower Never Withers" is also a member of the submerged generation who lost their hometown due to the construction of the Imha Dam. She vividly shows the sorrows experienced by the residents when their old clan community village was submerged due to the construction of the dam. These three writers' narratives of submergence are not only because they themselves have experienced submergence directly or indirectly. It is an ethical act of memory that goes beyond their own experiences and deeply hurts, sympathizes, and mourns the suffering of others as vulnerable human beings, and literary memory of what must not be forgotten.

동산을 담보로 자금을 조달하는 방식은 이중양도 혹은 이중담보제공의 위험으로 인하여 크게 활성화되어 있지 않다. 상품․원료 등 재고자산이나, 외국으로부터 수입한 물건과 같이 제3자(창고업자 혹은 운송인)가 직접점유하고 있는 동산을 소유자(간접점유자)가 담보로 제공하는 방식은 민법상 목적물반환청구권의 양도에 의하여야 한다. 그럼에도 불구하고 대법원 판결 중에는 간접점유를 점유개정으로 이전할 수 있다는 취지의 판결이 발견되고, 실무에서는 ‘화주이체’라는 방식까지 광범위하게 사용되고 있어서, 간접점유물을 담보로 제공하는 권리관계는 여러 요소를 고려하여야 한다. 따라서 이 논문은 점유매개관계의 대표적인 형식인 ‘창고계약’을 전제로, 창고업자가 보관 중인 임치물에 담보를 설정하는 방식을 살펴보고자 하며, 이는 점유개정과 목적물반환청구권의 양도가 허용되는 범위에 관한 검토로 이어진다. 이 논문에서는 동산양도담보의 우선순위에 관하여, 작성자가 실무에서 담당하였던 사안을 바탕으로 미력하나마 일정한 기준을 제시하고자 한다. 결론적으로는 첫째, 민법의 체계와 맞지 않고, 외부에서는 파악할 수도 없기 때문에 이중양도의 위험이 있고 거래안전을 위협하는 ‘간접점유에 대한 점유개정’은 인정하지 말아야 한다고 보며, 둘째, 현실적으로는 새로운 대법원 판결의 선고나 명확한 입법이 이루어지기 전까지는 양수인은 목적물반환청구권의 양도와 간접점유의 점유개정을 함께 이용하는 편이 안전하다고 하겠다.

In Korea, financing of funds using personal property as security has not enjoyed much commercial usage due to risks of a double transfer or a double provision of security. Where an owner (being an indirect holder) of certain goods (such as inventories (products or raw materials) or imported goods) intends to grant security over such goods that are held by another party (such as warehouse owner/ carrier) (being a direct holder), such grant of security will necessarily have to be in the form of a “transfer of the right to return of the subject goods” (mok-jeok-mool-ban-hwan-cheong-goo-gwon in Korean) under the Korean Civil Code. Nevertheless, when examining the issue of how goods (which are indirectly held by the owner thereof) may be granted as security, there exist numerous factors to consider, especially given the lack of clarity on point, as highlighted by a conflicting court decision by the Supreme Court of Korea (which provides that goods held in indirect possession (gan-jeop-jeom-yoo in Korean) may be transferred via “agreement on possession” (jeom-yoo-gae-jeong in Korean) and also, by the frequency of a practical method often referred to as a “Transfer of the titleholder of goods” (hwa-joo-ee-chae in Korean) (which refers to the procedures for changing the titleholder of goods vis-a-vis a warehouse owner). With the above in mind, this paper seeks to examine the methods of creating a security over bailed goods (im-chi-mool in Korean) held by a warehouse owner in the context of a warehouse agreement (chang-go-gae-yak in Korean) (it being a representative case of a legal relationship (jeom-yoo-mae-gae-gwan-gae in Korean) that governs the rights among an indirect holder of goods (gan-jeop-jeom-yoo-ja in Korean) and a direct holder of goods (jik-jeop-jeom-yoo-ja in Korean)). Such examination will necessarily extend to ascertaining the extent to which “agreement on possession” and “transfer of the right to return of the subject goods” may be resorted to. The author hopes to contribute to the existing literature by proposing certain standards/guidelines that are drawn from the author’s practical experience of working on a court case that involved determining the priority of rights vis-a-vis security over personal property. In conclusion, firstly, agreement on possession by way of indirect possession should not be recognized as an appropriate legal means as it does not fit well into the current construct of the Korean Civil Code nor there is a proper way to put other third parties on notice which may lead to risks of double transfer thereby threatening the certainty and finality of a given transaction and secondly, as a matter of practice, it would be prudent for an assignee to resort to both means of the transfer of the right to return of the subject goods and agreement on possession by way of indirect possession until such time we have a court decision on point overturning the precedent and/or the relevant laws and regulations are further developed and clarified.