This study explores the role of relationship banking for the exports of SMEs (small and medium sized enterprises) in Korea. Using a sample of SMEs listed on the Korean stock markets between 2004 and 2018, I find that relationship banking has a positive impact on exporting behaviors of SMEs. This result indicates that relationship banking is suitable for SMEs to raise their funds in the export decision-making since the incentive for banks to obtain soft information enhances SMEs' access to external finance. In particular, through further analysis considering financial constraints, I find that the positive impact of relationship banking on exports is amplified for financially constrained SMEs. In addition, the positive impact on exports is also amplified for export starters. Finally, relationship banking provides benefits for SMEs' export decision-making regardless of the financial crisis. To sum up, relationship banking may be useful means of financing for Korean SMEs whose creditworthiness cannot be assessed only by hard information. As the role of finance in international trade has recently been highlighted, this study provides insightful evidence that relationship banking may enhance exports of SMEs as a source of trade finance.

The purpose of this study is to examine relationships among exhibition selection factor, performance, satisfaction and intention to revisit of participants in international exhibition. For this purpose, we set hypotheses relationship among external selection factor of exhibition (ESFE), internal selection factor of exhibition (ISFE), performance of sales (PS), performance of information gathering (PIG), performance of relationship building (PRB), performance of image building (PIB), satisfaction (SAT) and intention to revisit (IR). To verify theses hypotheses, we conducted path analysis on the data from 100 participants of 2019 Korea International Boat Show. The result of this study is as follows: Frist, ESFE positively impacts on PS, PIG, PRB, PIB. Second, ISFE positively impacts on PIG, PRB. Third, PS and PIB positively impacts on SAT. Fourth, SAT positively impacts on IR. The implication of this study is two fold. This study expands research area of international exhibition to a new industry such as marine leisure sports industry and provides useful information to firms that plan to participate in the international exhibition and to those who organize the international exhibitions.

This study aims to provide the implications of research development by comparing domestic and international studies conducted on the subject of FTA. To this end, among the papers written during the period from 2000 to July 23, 2020, papers whose title is searched by FTA (Free Trade Agreement) were selected as research data. In the case of domestic research, 1,944 searches from the Korean Citation Index (KCI) and 970 from the Web of Science and SCOPUS were selected for international research, and the research trend was analyzed through keywords and abstracts. Frequency analysis and word embedding (Word2vec) were used to analyze the data and visualized using t-SNE and Scattertext. The results of the analysis are as follows. First, in the top 30 keywords of domestic and international research, 16 out of 30 were found to be the same. In domestic research, many studies have been conducted to analyze the outcomes or expected effects of countries that have concluded or discussed FTAs with Korea, on the other hand there are diverse range of study subjects in international research. Second, in the word embedding analysis, t-SNE was used to visually represent the research connection of the top 60 keywords. Finally, Scattertext was used to visually indicate which keywords were frequently used in studies from 2000 to 2010, and from 2011 to 2020. This study is the first to draw implications for academic development through abstract and keyword analysis by applying various text mining approaches to the FTA related research papers. Further in-depth research is needed, including collecting a variety of FTA related text data, comparing and analyzing FTA studies in different countries.

This study examines the policy direction and specific countermeasures for addressing possible port labour issues from the perspective of Just Transition which may be raised by closing coal fired power plants in Korea. Current energy transition policy and port labour policy in Korea are reviewed and case studies in the countries which has experienced closure of coal fired power plants are undertaken. Although it varies from country to country, a similar approach was found that the employment problem of coal fired power plant closures and measures based on Just Transition regime to mitigate the negative impacts that occur in the region are the key to successful transition. It is suggested that countermeasures for port labour should be institutionalized for providing stakeholders with legal stability covering labours not only directly employed by the plants but also employed in entities in the whole supply chains.

The purpose of this paper was to analyze the trend of container volume using the Seasonal Autoregressive Intergrated Moving Average (SARIMA) model. To this end, this paper used monthly time-series data of the East Sea Rim from 2001 to 2019. As a result, the SARIMA(2,1,1)12 model was identified as the most suitable model, and the superiority of the SARIMA model was demonstrated by comparative analysis with the ARIMA model. In addition, to confirmed forecasting accuracy of SARIMA model, this paper compares the volume of predict container to the actual volume. According to the forecast for 24 months from 2020 to 2021, the volume of containaer increased from 60,100,000Ton in 2020 to 64,900,000Ton in 2021

The construction industry can be described as one of the most volatile industry depending on the situation. As such, a contractor, who is usually positioned to take all kinds of risk, may frequently require to form a strategic partnership for better execution of a project. In this study, we are going to review act or behavior that may happen among such partnership. For such review, a survey targeted at domestic construction companies has been conducted on their thoughts as regards opportunism, risk perception, and the contractual governance between partners. The analysis result of structural equation and regression has indicated that there exists a positive effect on the opportunistic behavior from the risk perception, a moderating effect on contractual governance between the performance risk and opportunism, whereas no such moderating effect on the same between relational risk and the opportunism. The output of this study may assist various domestic individuals who wish to participate large scaled overseas projects.

In case of international long-term transactions, there are various risks of economic change of circumstances including skyrocketing price increase and shortage of raw material, as well as force majeure in a general sense. Nevertheless, pretty many of international long-term commercial contracts do not include the provisions of renegotiation and adaptation of the contract. In this case, possibility of renegotiation and adaptation depends mainly on the applicable law. Namely, it may be possible or not, according to choice of law. The reason is that national laws have nuances each other, and most of national courts are traditionally reluctant to accept hardship. and also, provisions of international uniform law (CISG) has ambiguity and inflexibility in relation to the problems of change of circumstances. Accordingly, this paper analyzes comparatively the doctrines and provisions related to renegotiation and adaptation of contracts of the most representative countries such as England, U.S.A., France, Germany as well as provisions CISG and soft law such as PICC. By doing so, the author makes clear which laws of instruments is more flexible or acceptable in allowing renegotiation and adaptation of long-term commercial contracts, and emphasizes on the importance of inclusion of express terms by using other alternative supplementing clauses, as a best solution for settling the problems of legal uncertainty of contract in relation to renegotiation and adaptation.

Container terminals at Gwangyang Port are operated by three container operators: A, B and C. Ultimately, there is consensus that a single operator should operate all terminals so that economies of scale can be achieved even in the operation of the container terminal. Integration between operators has a positive effect on both operators and shipping companies. From the operator's point of view, overlapping fixed costs between operators can be unified, reducing overall costs and utilizing spare facilities. On the other hand, from the viewpoint of the shipping company, it is possible to ensure stable use of the port facilities and always allow berthing, reduce days on demurrage and ship waiting, and provide one-stop service for work. However, existing cases of operators' integration or relocation of terminals remained to estimate the expected effects of alternatives, emphasizing only the financial point of view. The port terminal is a large system, and it is important to consider that it is an aggregate of major logistics facilities and equipment. Moreover, if the estimation can be made by quantifying the expected effect, the justification of the terminals' relocation can be further emphasized. Therefore, it is very important to estimate the expected effect from the viewpoint of systemic operation. Moreover, the need for operators' integration can be further emphasized if it can be estimated through quantification of expected effects. Currently, three alternatives are considered as alternatives to the terminals' relocation, and in this study, the optimal plan was derived for the 3 alternatives by the linear planning model of the minimum shuttle transportation cost in the terminal. The optimal plan is alternative 2, which shows the most advantageous integration effect in terms of expected effects. Alternative 2 integrates the B terminal into the C terminal, and the A terminal operates independently as it is.

The importance of entering the international market for small and medium-sized enterprises (SMEs) has been continuously emphasized. As a way to overcome these factors, prior studies have increased interest in dynamic capability. The purpose of this study is to investigate the effects of entrepreneurial orientation, learning orientation, and dynamic capability on their international performance of SMEs. Drawing on an extensive review of the literature on dynamic capability view and internationalization, hypotheses are developed and tested using a sample of 214 SMEs in South Korea. Structural equation modeling was applied. As a result of analysis, first, dynamic capability has a significant effect on international performance. Second, entrepreneurial orientation has significant influence on dynamic capability. Third, learning orientation has significant influence on dynamic capability. Lastly, slack resource was found to moderate the relationship between dynamic capability and international performance. The results indicate that their entrepreneurial orientation and learning orientation ware driver of their dynamic capability. and that their dynamic capability was significant driver of their international performance. In the final conclusion, implications and limitations of research and suggestions for future research are discussed.

The Korea-Canada FTA and the EVTA have adopted cross-cumulation clauses in their rules of origin, aiming at the enhancement of the value chains among the FTA parties. In fact, intricate rules of origin are often considered as the major cause that discourages the utilization of the agreement for the exporting firms. From this perspective, the correct understanding of cross-cumulation clauses in FTAs is an urgent mission for the Korean exporters as well, and the EVTA, which has recently introduced the cross-cumulation method in a linkage with the Korea-EU FTA provides the timely motivation. This paper first analyzes the Korea-Canada FTA of 2015 as for the case study, because this is a unique trade agreement for Korea that has already adopted the cross-cumulation clauses. It is concluded that the clause is rather vague, particularly in certifying the origins of the intermediate goods from the territory of an authorized third party. From this perspective, the recently-ratified EVTA is particularly important and meaningful with its clearer explanations for the utilization of the privileged rules of origin. The paper finalizes the study by making policy suggestions to the stakeholders, expecting more future FTAs to come equipped with similar cumulative rules of origin, and implies the possibility of the modification of the current clauses in the FTA with Canada.

This paper examines that determinants of BAOMAI, (i.e., behavior of Chinese tourist bulk purchase in duty free shop) with analytical framework and empirical tests. The results of applying the structural equation modeling to 196 samples suggest that Chinese tourist consumption orientations (conspicuous/compulsive/unplanned consumption) have a positive effect on BAOMAI decision value chain (perceived value and loyalty). The marketing mix of duty free shop as control variables in research framework also have a positive effect on BAOMAI perceived values (functional/social/emotional value). This paper has a contribution to prior literatures: the first empirical analysis on BAOMAI determinants with exploring scholarly definition.

In the environment of protectionism and bilateral trade agreements, Korea has promoted the conclusion of FTAs for its export-oriented trading policy, and 16 FTAs have entered into force at present. The main goal of this paper is to introduce the ISI system and its benefits and to extend the preferential rule of origin regime by using the Integrated Sourcing Initiative in the U.S. Code of Federal Regulations. The ISI illustrates with impressive clarity the fact that it considered as a tool of expanding the geographic limit of states and maximizing the global sourcing strategy of multinational corporations, allowing the developing countries to gain access to the market of developed ones that avoid the complexity and costs of many rules of origin regimes. This paper utilizes the literature research and analyzes a case study of FTAs which have adopted the ISI system. In conclusion, it presents several implications of additional measures to satisfy rules of origin in Korea's existing FTAs relating to the global supply chain strategy.

This research was conducted on 176 GVCs-related research papers listed in the Index of Korean Academic Writers. The analysis methodology used the keyword network analysis methodology of big data analysis. For the comprehensive analysis of research trends, the research trends through word frequency (TF), important topic (TF-IDF), and topical modeling were analyzed in 176 papers. In addition, the research period of GVCs was divided into the early stages of the first study (2003-2014), the second phase of the study (2015-2017), and the third phase of the study (2018-2020). According to the comprehensive analysis, the GVCs research was conducted with the keyword 'value added' as the center, focusing on the keywords of export (trade), Korea, business, influence, and production. Major research topics were 'supporting corporate cooperation and capacity building' and 'comparative advantage with added value of overseas direct investment'. According to the analysis of major period-specific research trends, GVCs were studied in the early stages of the first phase of the study with global value chain trends and corporate production strategies. In the second research propulsion period, research was done in terms of trade value added. In the recent third phase of the study, small and medium-sized enterprises actively participated in the global value chain and actively researched ways to support the government. Through this study, the importance of the global value chain has been confirmed quantitatively and qualitatively, and it is recognized as an important factor to be considered in the strategy of enhancing industrial competitiveness and entering overseas markets. In particular, small and medium-sized companies' participation in the global value chain and support measures are being presented as important research topics in the future.

The purpose of this study is to analyze whether SMEs' technological capabilities and international marketing capabilities affect the export performance of the SMEs and to empirically test the moderating effect of the CEO's risk propensity on such a relationship. We obtained data from 190 SMEs located in Gwangju and Jeonnam Province in Korea through survey and performed a regression analysis for hypothesis testing based on these data. As a result of the analysis, it was found that SMEs' technological capabilities and international marketing capabilities had a significantly positive (+) effect on export performance, respectively. Also, the CEO's risk propensity was found to reinforce the relationship between technical competence and export performance, and the relationship between marketing capabilities and export performance was also found to be strengthened in the positive (+) direction. These results suggest that it is necessary for SMEs to continuously develop technological capabilities and international marketing capabilities to achieve successful export performance in overseas markets. Also, the CEO's propensity to promote these relationships may be important.

In the absence of any guidance under statutory law, such as the Rules for Construction of Policy, MIA 1906, judges should follow the general principles of interpretation that apply to all contracts. In simple terms, Contra Proferentem Rule means that if the contents of the terms and conditions are ambiguous, they are interpreted against the writer of the terms and conditions. In the Anglo-American Contract Law, the 'default rule' is an important judicial tool that can supplement defects in contract norms and reinforce the principle of private autonomy through gap-filling techniques related to the interpretation of contracts. In Korea, it is sometimes mentioned in case of precedent, and it has been established as a clear rule. This study analyzes the interpretation of terms and conditions is not in the form that the interpretation of other general contracts and other interpretation principles are valid, but contracts based on terms and conditions are also contracts, and as a general rule, the interpretation of terms and conditions is explained like the general contract interpretation.

The objective of this study is to verify the effect of the market orientation, CEO capacity, and environmental characteristics of overseas markets on the performance of overseas expansion among the success factors of domestic overseas expansion companies. For this purpose, employees of domestic overseas companies based in the Seoul metropolitan area were surveyed, and the hypothesis test was conducted. As a result of the verification, among the contributors to overseas advancement of domestic overseas companies, the factors of CEO capacity, overseas business_education ability, market environment and market size have a significant positive effect on the financial performance of overseas expansion. However, market-oriented factors were found to have no significant effect on the financial performance of overseas expansion. Among the contributors to overseas advancement of domestic overseas companies, the market-oriented factor, the customer-oriented factor, has a significant positive effect on the non-financial performance of overseas expansion. However, factors in CEO competency and environmental characteristics in overseas markets do not have a significant positive effect on the non-financial performance of overseas expansion.