• Korea Trade Review
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• v.47 no.4
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• pp.215-231
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• 2022

Analysis and forecasting of the Baltic Capsize Index (BCI) is important for managing an entity's losses and risks from the uncertainty and volatility of the fast-changing maritime transport market in the future. This study conducted volatility transition analysis through the GARCH model, using BCI which is highly related to steel raw materials. As for the data, 2,385 monthly data were used from March 1999 to March 2021. In this study, after basic statistical analysis, unit root and cointegration test, the GARCH, EGARCH, and DCC-GARCH models were used for volatility transition analysis. As the results of GARCH and EGARCH model, we confirmed that all variables had no autocorrelation between the standardized residuals for error terms and the square of residuals, that the variability of all variables at this time was likely to persist in the future, and that the variability of the time-series error term impact according to Iron ore trade (IoT). In addition, through the EGARCH model, the magnitude convenience of all variables except the Iron ore price (IOP) and Capesize bulk fleet (BCF) variables was greater than the positive value (+). As a result of analyzing the DCC-GARCH (1,1) model, partial linear combinations were confirmed over the entire period. Estimating the effect of variability transition on BCF and C5 with statistically significant linear combinations with BCI confirmed that the impact of BCF on BCI was greater than the impact of BCI itself.

• Korea Trade Review
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• v.46 no.6
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• pp.73-92
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• 2021

Small and medium-sized enterprises (SMEs) account for a large proportion of the total number of enterprises in many countries. The development of SMEs has contributed to job creation and economic benefits. Every government has formulated active diversification strategies to promote the export market of SMEs, but the performance of export capabilities remains insufficient. The primary purpose of this study is to examine the effectiveness of export credit insurance in promoting SME export performance in Canada. Using data from 2008-2017, the augmented Dickey-Fuller (ADF) model to test the stationarity of the concerned variables and the error correction model (ECM) and autoregressive distributed lag (ARDL) cointegration test to empirically investigate the cointegration relationship between the research targets. The results represent the positive and critical impact of export relative price and domestic demand pressure on Canada's export performance, and the negative impact of the export volume index at a significant level. Regrettably, the impact of export credit insurance on the export performance of Canadian SMEs is considered exaggerated overall. In view of this result, it is necessary for the Canadian government to enact policies based on the current market status. And enhance confidence among SMEs to begin exports and diversify their markets rather than focusing only on the domestic or US market, especially given the impact of COVID-19. From the case of Canada, Korean government can attempt to learn from them to conduct more efficient strategies for SMEs.

• Korea Trade Review
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• v.48 no.4
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• pp.121-148
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• 2023

The rapid melting of Arctic sea ice has increased interest in the Northern Sea Route (NSR) as a viable alternative trade route between Europe and Asia. While extensive research has examined its competitiveness in terms of technical feasibility, safety, profitability, and environmental impact, the topic of the NSR ports remains relatively underrepresented in the literature. Hence, this study aims to contribute to the existing research by assessing the efficiency of 17 NSR ports to gain insights into their operations and identify areas for improvement using models of Data Envelopment Analysis(DEA). The obtained results show that efficient ports mainly belong to the western NSR region, with ports like Murmansk and Varandei consistently demonstrating high efficiency and constant returns to scale. Several ports, such as Onega, Arkhangelsk, Naryan-Mar, and Khatanga, showed inefficiencies in the utilization of berths and quay lengths. The findings not only contribute to academic knowledge but also offer practical implications for NSR port authorities, assisting them in making well-informed decisions regarding infrastructure development plans.

• Proceedings of the KOR-KST Conference
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• 1993.07a
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• pp.235-247
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• 1993

이십일세기상해항공운수발전전략연구, 시이 $\ll$진흥상해, 개발포동, 복무전국, 면향세계$\gg$ 적방침작위지도, 병통과이상해포동개방개\ulcorner\ulcorner\ulcorner장강삼각주지구내지정개장강류역경제발전, 축보사상해발전성위\ulcorner\ulcorner지 구경제, 김융, 무역중심지일작위목표개전전략연구. 상해재아국두\ulcorner\ulcorner의현대화건설진정중점유겁기중요적지위, 저장성위태평양서안최인적 제무역중심지일, 목전, 상해항공운수적현상여기재국민경제중적전략지 위급여세계경제발달국가급지구례여뉴약, 륜돈, 파려, 지가가, 동경, 향항, 신가파등국제대성시상비차거태대, 안통계수거상해1990년항공운수탄토량약시미국뉴약1986년적1.5%, 시향항적10%좌우, 가견상해민\ulcorner\ulcorner수적 발전속도이경한제료상해경제적등비, 한제료포동개방개발급여국내 외정치경제화문화적교류, 위료사상해항공운수여상해적국민경제급사사회 발전상괄응, 대력발전항공운수기박재미첩. 수착상해경제발전, 능원, 원재료적증가, 외향형경제발전급금후궤십년상해인민수입증가화경제결 구조정.고정첨기출적발전급국제교왕적증가. 예측이십일세기상해여객 운수량급화운량장성배증가, 소이탐색일개여상해경제발전전략목표상괄 응적현대화항공교통운수체계, 발혼항공운수특유적우핵시십분필요적. 본연구보고종이하오개방면대상해이십일세기항공운수발전전략진행천술. 일, 개술발전상해항공운수적필요성급긴박성. 이, 상해민용항공운수현상대상해지구주요승운인동방항공공사항선 망, 운력, 기대, 기장현상작료분석,설명상해민항유우운력불족, 기출 장비체후, 자김결, 불능만족상해경제등비발전적수요. 공중교통관제, 통신도항, 기무유수, 항유공응등방면야도불동정도지한 제료항공운수적발전, 필수인기겁대적중시. 삼, 상해항공운수적예측화전망, 통과자료연구급수거분석, 리용수 학모형대이십일세기상해항공운량진행예측, 제출발전상해항공운수적전 략목표급발전중점. 예측2020년 상해항공항총객운탄토량4300만인/년, 화운량달120만돈; 2050년객운량장달18150만인차/년, 화운량518만돈. 사, 발전상해민항기출경제정책, 제출위료$\ll$진흥상해, 개발포동, 복무전국, 면향세계$\gg$ 화도이십일세기중기국민경제달도중등발달국가수 평굉관전략목표적실현, 제료필수재지도사상상파교통운수진정방도전략 산업지위, 환응재관리체제상채취과단유효적개혁조시, 재기출경제정책 상급여대력부지. 오, 전략목표, 위파상해건설성위태평양서안최대적경제, 김융, 무역적중심, 요구상해항공항성위화동지구통향세계각지항선망출발참, 구성대외개방선면축심, 실현국제항선적함접화국내항반적전항, 형성다축심복사식항선망; 가강기장건설, 개피포동제이국제기장건설, 괄응포동개발경제발전적수요.

• International Area Studies Review
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• v.15 no.3
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• pp.95-126
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• 2011

The objective of this study is to quantify the potential economic effects of Non-Agricultural Market Access (NAMA) negotiations of the WTO on automotive industry of the world using a multi-region, multi-sector Computable General Equilibrium (CGE) model with 21 countries/regions and 22 sectors. According to the December 2008 NAMA modalities text, issued by the chair of the negotiation on NAMA, three different scenarios of tariff liberalization of NAMA are conducted on the basis of the Swiss formula with a coefficient of 8 for developed members and 20 for developing (scenario 1), with a coefficient of 8 for developed members and 22 for developing (scenario 2) and with a coefficient of 8 for developed members and 25 for developing (scenario 3). Simulation results show potential economic effects at the macroeconomic and microeconomic level of 21 countries concerned. In particular, Korea is to be one of the winners of tariff liberalization of NAMA in the WTO and Korean automotive industry is to benefit from it to a large extent in terms of its output, domestic sales, exports and trade balance, which implies that Korea needs to actively engage in NAMA negotiations of the WTO.

• International Commerce and Information Review
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• v.14 no.4
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• pp.409-431
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• 2012

This article deals with the nature of ISDS along with the admissibility thereof, for the settlement of investment disputes between states and nationals of other states. ICSID as an organization of World Bank Group, has been established in 1966 and as of May in 2011, 157 nations ratified its convention. As for the Republic of Korea(ROK) it has been involved in the problematic situation with regard to ISDS of the KORUS FTA in negotiation with the United States. The ruling Grand National Party is pushing the FTA for ratification including ISDS. However, the opposition party, the Unified Democratic Party rejected the ISDS with a view to a toxin infringing on its judiciary sovereignty. The ROK has invested in the US 3.5 times more than the US did in Korea up to now. As a result, it seems that the ROK is more concerned about ISDS than the US is, considering that exhausting local remedy through the US local courts, applying even a municipal ordinance in their decisions which will be unsatisfactory toward the ROK side. The ROK is now struggling with the ISDS as a political issue between the ruling party and the opposition party mostly based on sovereignty with a reference on AUSFTA which excluded the ISDS. Australian model about ISDS has been impacted by the experience from the NAFTA which allowes direct claims against each other(the US against Canada and Canada against the US). It seems not to be much sympathy for developed countries because it has long been held to standards for pressing on developing countries. Australia is also struggling with ISDS from the political point of view likewise the ROK. And the ISDS is destined to the political situations established within the domestic countries among the political parties in relation with the acceptance or rejection of thereof.

• International Area Studies Review
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• v.22 no.4
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• pp.123-143
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• 2018

Many studies on the acceptance of multi-national products have made academic contributions by offering various implications. However, there have been relatively few studies on the attitudes and behaviors of multi-national products depending on the purchasing tendency of consumers. The purpose of this study is to investigate how acceptance process of multi-national product, which is high involvement, appears by sorting consumers' purchasing tendency into rational consumption tendency, brand pursuit tendency, and consciousness of other people. Also, in order to supplement the measurement method of existing research, this study sought to analyze the acceptance behavior of consumers more precisely by classifying the situation before and after exposures of multi-national origin information on products. For this, 266 consumers were surveyed and statistical analysis was conducted through structural equation modeling. As a result of the research model, it was found that consciousness of other people has a significant effect on susceptibility and antipathy of multi-national product. In addition, antipathy against multi-national products has more powerful effect than susceptibility.

• International Area Studies Review
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• v.21 no.4
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• pp.101-124
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• 2017

This study is to examine the current situation of the AEC (ASEAN Economic Community) and analyze macroeconomic situation of Vietnam since the launch of AEC. According to recent trade indicators, Vietnam is expected to be more productive in the manufacturing and processing sectors because it is at the heart of the global value chains (GVCs) in electronics, telephones, and textiles and shoes industry. Vietnam has signed or is negotiating free trade agreements with various countries around the world including Korea, Israel, EU and RCEP and so on. Therefore, it is expected that Vietnam's trade dependency and FDI inflows to Vietnam increase more and more. However, the fact that the proportion of exports by foreign-invested companies accounts for about 70% of the total exports implies the uncertainty of Vietnam's economy in the future. Attracting FDI investment can further reduce the competitiveness of domestic companies in Vietnam. Therefore, in order for Vietnam to maintain sustainable development in the future, it is necessary to reform the momentum of foreign-invested enterprises to the development of Vietnamese companies.

• International Area Studies Review
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• v.15 no.1
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• pp.447-466
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• 2011

This paper examined the supply chain management Integration factors and environmental performance in Korean industry. Focusing on SCM Integration, GreenSCM practice, and environmental performance factors, purpose of this study is finding linkage between SCM Integration factors with new environmental practice factors and environmental performance. Based on the analysis of eighty-eight cases, the following results were found. First, We found External environmental collaboration factors and Internal environmental monitoring factors within Green Supply Chain Practices. Second, SCM Integration have a positively significant influence on environmental performance. Third, Internal environmental monitoring factors have a positively significant influence on Environmental performance but External environmental collaboration factors doesn't. This study suggests that only with high level of Integration firms may have good result on entire supply chain environmental performance. Finally, our empirical evidence shows that company should be prepared for new environmental trade regulation with Green Supply chain management integration.

• Korea Trade Review
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• v.48 no.2
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• pp.153-174
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• 2023

Electronic bill of lading, Letter of Guarantee, Surrender B/L, Seaway Bill, etc. have been proposed as alternative tools to overcome the crisis of bill of lading, but the most useful of these is by far the Surrender B/L. However, since the Surrender B/L has various problems due to the absence of a legal basis, studies so far have been conducted focusing on these legal limitations or problems in use of the Surrender B/L. This study tried to empirically identify the factors that affect the spread of Surrender B/L by expanding this point of research view. A hierarchical regression analysis was conducted by acquiring 190 valid samples centered on member companies of the Korea International Freight Forwarders Association. In addition, the R program was used to diagnose the research data and analyze the degree of spread by region. As a result of the empirical analysis, it was found that the utilization of Surrender B/L increased due to the convenience and cost reduction effect of Surrender B/L and the apprenticeship training of forwarding companies. In addition, as a result of regional analysis, the spread of Surrender B/L was notable not only in neighboring regions but also even in areas far from Korea.