• International Area Studies Review
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• v.13 no.2
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• pp.618-642
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• 2009

Currently the nations which join the WTO shall observe understanding on rules and procedures governing the settlement of disputes in WTO agreement. In addition this agreement provides it will be able to apply dispute settlement mechanism of the WTO. Korea and the United States are accomplishing an important role as the core members of the WTO. Regardless of this, The Korea - US FTA is providing a separate dispute settlement system. This paper pursues a comparative analysis concerning rules and procedures of dispute settlement between The Korea - US FTA and the WTO, and furthermore derives problems from the viewpoint of effectiveness, and suggests alternatives and implications in view of trade policy. I hope this study contributes to setting-up and development of national trade policy and is applied to FTA negotiation hereafter.

• Korea Trade Review
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• v.43 no.5
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• pp.139-158
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• 2018

As trade volume increases and the business environment becomes more complex and competitive, international trade disputes are also increasing and becoming more complex. Parties need to become more aware of alternatives to costly and time consuming arbitration and litigation. The ADR (Alternative Dispute Resolution) can encompass all dispute resolution processed and can act as a substitute for traditional litigation. Mediation, a type of ADR, offers an amicable dispute settlement mechanism between concerned parties through a natural mediator. There are several strong points of mediation compared with litigation or arbitration. First of all, mediation can take place without having to complete time-consuming and expensive discovery processes associated with litigation. In addition, since mediation is considered a private process, the dispute can remain out of the public eye. It can be embarrassing and disrupt business when customer or suppliers learn that a company is involved in litigation. Lastly, mediation is less adversarial than litigation or arbitration, so the parties often can salvage their relationships. Often the parties to mediation find themselves continuing to conduct business. In spite of such benefits of mediation, it is less used in Korea and therefore, this article aims to promote the mediation system in international trade disputes. However, this paper has limitation, for example, why ADR is not used well in Korea and need to suggest how ADR can work best in international trade disputes.

• Korea Trade Review
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• v.43 no.5
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• pp.47-66
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• 2018

This study analyzes the potential economic effects of a trade war between the U.S. and China. The CGE model is used to estimate the macroeconomic variables of each country and the change in imports/exports by industry by considering three different scenarios: (i) the US imposes a 25% of tariff on China; (ii) the US and China impose a 25% tariff bilaterally; (iii) the United States expands protection in vehicles and metals to Korea, Japan, and the EU. According to the results of the study, when the US and China initiate a trade war, GDP and welfare of both countries decline. China's decline in GDP and welfare are larger than those of the United States, which implies a trade war is more favorable to the U.S. than to China. In the long run, China's GDP and welfare decline widens further. While the trade volumes of the US and China are greatly reduced, the trade volumes of other countries does not significantly fluctuate. Finally, if the US extends protection policy to Korea, Japan and the EU, it creates undesirable effects on the US. In particular, damage to the US jeopardizes its advantageous position in a trade war with China. In order to emphasize the unfairness of protectionist policy and the damage to Korean industry, Korea needs to establish a strategy to counter US protectionist policy.

• 한국무역상무학회:학술대회논문집
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• 2003.06a
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• pp.47-73
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• 2003

• Korea Trade Review
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• v.42 no.5
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• pp.19-42
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• 2017

Nowaday typically international commercial transaction, buyer and seller communicate with each other using standard forms. So called "the battle of forms" results from the exchanges of these forms. There are several problems that have to be solved in the battle of the forms. For example, Do the exchanges of the different terms form a contract? What are the contract terms? Which party's terms could apply? etc. Around the world, two basic types of rules are applied to solve the problem as to the battle of forms : last-shot rule and knock-out rule. In 2015, Hague Conference in Private International Law finally approved Hague Principles. The principles deal with the battle of the forms. Also in 2013, CISG Advisory Council adopted the "Black letter rules" to provide an effective way of resolving regarding the inclusion of standard terms under the CISG. This study would try to comprehensively review the battle of forms concerning Hague Principles and CISG. The aim of this study is to propose the most appropriate way to resolve the problem of the battle of forms both parties.

• Journal of Arbitration Studies
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• v.17 no.3
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• pp.81-99
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• 2007

The purpose of this paper is to analyze trade disputes between Korea and China in terms of broad industrial policy concept and to derive some solution. It provide first a historical overview of the basic theory for the trade policy in the developing countries to see how the trade policy evolved the different stage of option and then try to highlight features of China's trade policy development after the capitalization. An attempt is also made to review the trade dispute in Kimchi in order to identify what are the underlying reasons for policy failure. Finally, we will try to suggest trade strategy with major policy directions which could be relevant for trade development of Korea today. The trade dispute issue with China has been newly coined referring to Korea's weakening economic stance among the two powerful Asians countries, China and Korea has always been closed partners geographically and economically. The study has stressed that the Koreans should not recoil from the trade crisis but to consider it as an opportunity. Rapidly growing Chinese manufacturing industry has heightened the importance of trade between Korea and China, indicating conversion in specialization from vertical to horizontal, according to the economic research so far. This paper has proposed strategy to cope with any trade disputes between Korea and China.

• Journal of the Economic Geographical Society of Korea
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• v.24 no.3
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• pp.243-258
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• 2021

By using the trade in value-added(TiVA) database and employing social network analysis, this paper analyzes changes in global trade to be triggered by the Belt and Road Initiative (BRI) and the US-China trade war. The main results are summarized as follows. First, the BRI will help maintain China's core position as the world's manufacturing hub, and will strengthen Europe's service industry capabilities within the global value chain(GVC) network. Second, the US R&D industry, US wholesale and retail industries, and Germany's automobile industry were considered the most influential industries in the GVC network during the 1995-2011 period, and will retain their status until 2049, when the US-China trade war and the BRI are reflected. Third, the increase of the number of communities shows that the BRI might spur fragmentation of the production process. Finally, community structures of inter-industry trade relations, including China's electronics industry, Germany's automobile industry, and US R&D, show important features that are related to the competiveness of each country's service industries.

• The Journal of the Convergence on Culture Technology
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• v.9 no.2
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• pp.285-294
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• 2023

The trade dispute between China and the U.S. began before Corona and is easing at this time by bringing new changes to the pendemic, and the development of the Chinese manufacturing industry has increased interdependence between the U.S. and China. However, the overall global trade should be less than before pendemic, and Korea's response strategy should be made serious at this time.However, new changes are taking place again these days. With the recent outbreak of COVID-19 in Shanghai, China, new changes are expected to occur in China's industrial chain. As the Chinese government strictly creates quarantine figures for COVID-19, many factories and companies among industries are forced to close for a while. As economic globalization and division of labor continue to deepen, multinationals choose suppliers and industrial chains within the world to form a global supply chain structure to pursue cost minimization and profit maximization. China is an indispensable part. Whether it is China, the U.S. or Korea, it can be a risk and an opportunity now.

• Journal of Arbitration Studies
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• v.4 no.1
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• pp.37-72
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• 1994

• Journal of Arbitration Studies
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• v.7 no.1
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• pp.547-569
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• 1997