Purpose - This paper investigates the recent trade collapse, recovery, and prolonged slowdown to shed light on the discussions about whether the current slowdown is structural or cyclical. I examine structural, cyclical, and heterogeneous aspects of the recent trade trends using detailed statistics of a small open economy, South Korea, whose economic success and growth have been heavily dependent on exports. Design/methodology - I use both aggregated and disaggregated trade statistics of South Korea. I apply the following methodologies: 1) I decompose the trade growth into the extensive and the intensive margin and observe the effect of prices over time. 2) I estimate the trade-income elasticities focusing on the world's import demand, separately for goods from the world and from Korea. 3) I compare the drop in goods exports in slowdown and trade collapse, which are the two unusual periods in the recent history when world trade has substantially dropped altogether. Findings - I show that while the last drop of trade after 2015 has cyclical aspects, there is evidence that the continued slowdown from 2012 is structural: 1) the so-called 'China factor' is found in the analysis of trade-income elasticity of the world and China for imports from Korea. 2) The bilateral trade barriers between Korea and its principal trading partners are universally tightening. 3) Firm sizes, destination countries, and the mode of transactions affect disaggregated trade flows during the slowdown periods. Originality/value - This paper contributes to the debate regarding whether the current trade slowdown is structural or cyclical. I provide two concrete evidence that the export drop in 2015 stems from low oil prices: one is the divergence of Korean export value index from its export quantity index, which started in late 2014 when oil prices plunged. I also contribute to the literature by providing evidence that Korea's trade barriers with important trading partners are steadily increasing since 2012 as the protectionist measures toward Korea's export products are steeply increasing after the global financial crisis.

Purpose - The purpose of this paper is to develop a tractable general-equilibrium model of examining the impact of human resource management on intra-industry trade. Commonly, managers of Korean firms are promoted internally. It necessitates a study of human resource management and its impact on an industrial equilibrium. Design/methodology - This paper relies on theoretical analysis. We build a model in firms are hierarchical; an entrepreneur, managers, and workers. All individuals have heterogeneous managerial talents, which are the main source of managerial quality. Firms search talents for prospect managers, and eventually delegate them to supervise workers. The searching incurs a sunk cost. Findings - Our finding is as follows. Country 1, relatively abundant of managerial talents, can gain more from trade than Country 2, relatively scarce of managerial talents. This is because the higher searching cost leads to the lower survival rate of firms in Country 2. Implicatively, good jobs are destroyed, and aggregate income falls in Country 2. Originality/value - According to our study, relative abundance of managerial talents affects distribution of firm size and determines trade gain. This study can contribute to the literature of organization management and trade.

Purpose - This study examines the mediating effect of switching costs (economic risk costs and setup costs) on the relationships of country image with product attitude and product attachment. Switching-cost effects for the Korean Wave, which are insufficiently addressed in the literature, were investigated using the country image of Korea as a proxy for the Korean Wave. Moreover, this study examined the economic effects of the Korean Wave and the negative effect of the Terminal High Altitude Area Defense (THAAD) deployment on these economic effects. Design/methodology - A total of 302 Chinese consumers were surveyed using a questionnaire. Because this was an exploratory study and was not based on a classical model, the PLS-SEM method was employed to test the stability of the model and its hypotheses. Findings - Switching costs had mediating effects on the relationships of country image with product attitude and product attachment. The switching-cost effects for the Korean Wave were verified. However, neither the economic image nor cultural image of Korea had significant effects on the economic risk costs. Moreover, the economic image of Korea had no significant effect on the set-up costs. Originality/value - This study broadened the understanding of the relationships among country image, switching costs, product attitude, and product attachment and advanced the knowledge of relevant theories. The results contribute theoretically to the literature on switching-cost effects for the Korean Wave. The results confirmed the negative effect of THAAD deployment on the economic effects of the Korean Wave. In the rapidly developing international environment, these research results could serve as theoretical reference guidelines for suppliers when developing marketing strategies.

Purpose - This paper finds the repurchase intentions of customers in a sharing economy via Airbnb and Uber, which are classic sharing-economy service businesses. Design/methodology - This paper analyzes sharing economy effects using variables in a structural equation model. Findings - We verified that values have a significant effect on the trust in a platform. We also verified that the effects that value propositions have on repurchase intention are significant. Research Limitations/Implications - First, there may be some distinction between men and women with regard to divided trust. Second, if commitment is divided into commitment to the host and commitment to the platform, as is the case for trust, the results will not be as expected. Third, if results could be categorized by nationality after gathering more samples, each nationality might have different opinions about these factors. Finally, the sharing economy can be identified and analyzed for various industries, such as space, transportation, and service. At this point, it is inconvenient to not have more implications. Originality/value - This study focuses on the repurchase intentions of customers. Unlike earlier studies, it is meaningful that trust is divided between the host and the platform, and that it can be analyzed. It is also important to establish the relationship between trust and commitment, and the relationship toward repurchasing in the shared-economy.

Purpose - We perform an empirical analysis of the effects of global consumer culture positioning (GCCP) in TV advertisements on consumer's brand evaluations (perceived quality, perceived price, and brand prestige) and attitude toward brand. Also, we analyze the moderating roles of consumer characteristics (ethnocentrism and level of product knowledge) in those effects. Design/methodology - This research is based on a survey of 210 randomly-selected university students in Seoul, Korea. The participants in the survey were shown a total of 8 TV advertisements of consumer goods of nondurable goods (fast food and carbonated drinks), and durable goods (sports shoes and digital camera), which included two advertisements for each product where one uses GCCP strategy while another uses LCCP strategy. We estimate the structural model using the AMOS 18.0 computer program. Findings - We find that GCCP has more positive effects on consumers' brand evaluations and attitude toward brand than LCCP in TV advertising. We also find that GCCP has stronger effects on brand evaluation and attitude toward brand in consumers with weak ethnocentrism and in those with a low level of product knowledge. Practical implications - Using GCCP in an advertisement is an effective way of improving consumer's evaluation of the brand and attitude toward the brand mainly when cosmopolitan consumers and consumers with low knowledge levels are segmented as targets. Originality/value - The study contributes to identify how and for what consumer groups' global brand positioning strategies in TV advertisements affect consumers' brand evaluations and their attitudes toward brands.

Purpose - This paper investigates the implications for facilitating trade in the products of Industry 4.0. To identify the issues caused by the conflicts of policy objectives such as applying the tariff concession under the ITA and imposing the export control, by exploring the case of classification of drones. Design/methodology - We adopted a single case study method to gain a deeper understanding of the complex and multifaceted issues of Customs classification in the context of facilitating trade in the products of Industry 4.0. This study employs the case of drones to explore how these issues of Customs classification affect trade facilitation. We ensured the internal validity of the study by confirming the pattern of the results with the existing theories. Findings - Our main findings can be summarised as follows: the intrinsic nature of the products that converge several technologies causes issues in the classification. The inconsistency in product classification delays customs clearance by hindering the Customs risk-management system that pinpoints products subject to controls. To address the issues, therefore, we proposed fundamental reforms of Customs to empower themselves with management roles. Facilitating trade in the products of Industry 4.0 requires more enhanced Customs capability. Therefore, the reforms should include comprehensive capacity-building activities, such as changes in staff-trainings, promotion system, organisation and culture. Customs also need roles in robust designing of cooperative systems to compensate for the lacks of controls and to ensure concrete risk management for expedited Customs procedures. As well, by equipping the Single Window of Customs with crucial control functions of other ministries, Customs need to support the cooperation. The role of harmonising various preaudits of other ministries with its own is another essential role that ensures predictability of clearance procedure. Originality/value - There are scanty studies in the field of knowledge about what obstacles exist and what solution is available in the course of transforming to 'Industry 4.0'. In filling out the gap of knowledge, this paper is of academic significance in that it applies the research theory on trade facilitation for the specific cases of classification of the product of Industry 4.0 to verify its effectiveness and to extend the subject of the studies to the scope of Industry 4.0. It also has practical significance in that the results have provided implications for reforms of Customs procedures to facilitate trade in the products of Industry 4.0.

Purpose - The purpose of this paper is to suggest countermeasures to reduce the damage of manufacturers in halal industries and to increase the transparency of the halal market along with raising some problems of halal supply chain management (HSCM). Design/methodology/approach - To achieve to the aim of this research, halal supply chain is categorized as a green zone or a red zone according to the possibility of cross-contamination, and the study introduces 2 examples in Malaysia and Indonesia regarding cross-contamination. Findings - More than 70% of the companies producing halal-certified products are, ironically, non-Muslim suppliers under the halal certificate system and by using halal supply chain. Most Muslim countries do not exercise control over the completed halal supply chain. In most Muslim countries which do not exercise control over halal supply chain properly, there is always a possibility of cross-contamination of products during the processes of distribution. Research limitations/implications - This research has been conducted by accessing cases in halal supply chain. These cases are found in some Muslim countries, not all Muslim countries. Nevertheless, the authors found the possibility of these cross-contaminations in all Muslim countries, and it will damage the halal market. Originality/value - While existing studies have focused on protecting Muslim consumers by ensuring the integrity of halal products in halal supply chain, there is no research on how to protect halal product manufacturers as another important axis of halal SCM.