• Korea Trade Review
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• v.42 no.5
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• pp.233-252
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• 2017

The fast changes of global financial environment in recent years increase the risk of trade settlement. This means are required to minimize risk of non payment and to maximize secure payment. Open Account trade accounts for 90% of global trade flows. The O/A system means that the goods, along with all the necessary documents, are shipped and delivered before payment is due, usually within a time frame from 30 to 90 days. Meanwhile, Korean small and medium-sized export enterprises are compelled to globalize their activities owing to limitation and competitiveness of domestic marketplace. To keep face with the global trade settlement system and to support globalization of small and medium-sized export firms, the BPO together with Supply Chain Finance will be solutions. The introduction of the BPO system will allow banks to broaden O/A offerings to their client base and due to secure safety, sellers could ship the goods without delay according to orders and buyers could settle promptly by payment undertaking of correspondent banks. Therefore, it is more effective for companies which have sustainable customers and stable transaction. This study take a look at the trend of the global payment systems and suggested limitation of existed payment in order to derive improvement measures of electronic payment for small and medium-sized export enterprises.

• Korea Trade Review
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• v.41 no.4
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• pp.1-19
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• 2016

This paper analyzed what determines affected FDI inflow of developing countries by using panel data from 65 lower-middle income and low income countries(Asia, Africa and Latin America). Empirical results showed that economic growth has a more positive impact on a middle income country than a lower one, and has a better impact on the Asian continent than others. Trade has similar effect on lower and middle income countries, respectively. ODA, however, has a negative effect on both sides, regardless of the continent. Industrial value added rate and labor force have a positive effect on FDI in low and middle income countries. Infrastructure was found to be a significant impact on FDI inflows in lower-middle income countries than in low income countries. There is no geographically significant difference except Africa.

• Korea Trade Review
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• v.41 no.3
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• pp.43-62
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• 2016

As global online business expands, direct overseas sales, where company directly sells products to foreign consumers, has become a new trend. The purpose of this study is to find out the characteristics of B2C Korean online exporters. This study analyzes export companies, 45,267 doing offline business and 205 online, and the two findings drawn from the study are as follows: First, B2C online exporters shipped 4-5 times more products to 10-13 times more countries than offline exporters. It also showed higher rate of export persistency. Second, from using gravity model analysis, it was found that export through online sales removes distance barrier by 60% more than offline. In addition, Free Trade Agreement appears to help boost online overseas sales. This study has significance in that it is the first analysis on B2C online export using actual proof, and it can be differentiated by other researches in terms of identifying the traits of Korean online export.

• International Area Studies Review
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• v.13 no.1
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• pp.341-367
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• 2009

This study is aimed to analyse the performances and market positions of Korean products at the Central and South America where recently come into the spotlight for the emerging markets with FTA. The main problems were not the communication or geographical distance but the faint Central and South American specific support of the government and indifferent market approaching concepts. New cultural merchandising approach, Korean enterprise can maintain the competitive advantage against with chinese low products which is main opponent in this market. In order to achieve the close cultural approach, Korean enterprise should use the 'elite groups' in the Central and South america whom are multi cultural leaders in there and also needs to use the Korean CQO merchandisers in the Central and South America. And the new FTA with rest of countries in the Central and South America more aggressively will be the inmost objet of maintaining competitive advantage and we could change the concept of the this market from 'big indifferent market' to 'strategic market' as a hopeful market for achieve the diversification of export.

• Korea Trade Review
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• v.48 no.1
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• pp.287-306
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• 2023

This study tries to explore that the relationship between social media company's coercive and involuntary marketing stimuli and the negative consequences that have not been intensively discussed in measuring the performance of social media companies. To reflect the influence of the socio-cultural environment of country, a comparative study was conducted on major social media market in Korea and China. As result of the verification, it was found that coercive marketing stimuli had influence on social media firm's negative consequences. And there are significant differences by country in the effect of company's coercive marketing stimulus on user attitudes and negative performance. The results of this study are expected to provide practical implications for the operation of social media firms and individuals who want to do business using social media.

• Korea Trade Review
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• v.46 no.5
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• pp.49-63
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• 2021

The HS Convention is an agreement on the harmonized commodity description and coding system enacted by the World Customs Organization in January 1988 to promote international trade and unify the commodity classification systems internationally, and the seventh revision will take effect in January 2022. This study's main purpose is to consider criteria for classifying unmanned autonomous transport systems(UATS) in accordance with Section 17 of the HS nomenclature and to present recommendations for improvement of laws related to tariff classification which may be used to amend related laws in Korea. Currently, there are no provisions within the HS Nomenclature that classify unmanned autonomous transportation systems and equipments. Although such technologies have yet to be commercially deployed, they are being actively developed globally. Thus, this study aims to classify UATS and suggest appropriate amendments to the new edition of the HS Nomenclature and Korean law. This paper examines advance ruling cases from domestic and foreign HS classification under the revision of the HS Convention and the criteria for the classification of UATS and Domestic Korean and foreign classification case studies were investigated, along with a survey of the literature on UATS, in order to derive reasonable tariff classification criteria and present legislative implications. In conclusion, this study aims to provide legislative recommendations for how to improve the system to apply the revisions to the HS Convention to the domestic Korean statutes.

• Korea Trade Review
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• v.45 no.2
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• pp.1-16
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• 2020

Korea is one of active countries in terms of FTA(Free Trade Agreement) around the globe. Local market is not big enough for Korean companies. This is why Korea is actively participating in FTA with various countries. Individual companies should conform to regulation, policy and system relevant to the agreement. Otherwise, it is not easy for companies to enjoy benefits of FTA. The Korean government is using various FTA programs to support domestic companies, in particular SMEs(Small and Medium-Sized Enterprises). FTA-PASS is a representative program. FTA-PASS is an official program of Korea Customs Service. Korean companies can use the program as free. However, some companies may have difficulties regarding the use of FTA-PASS. The program may cause of compatibility problem related their own ERP(Enterprise Resource Planning) systems. This study is designed to analyze determinants of FTA-PASS and ERP system compatibility. Furthermore this study aims to examine effects of the system compatibility on export performances. This study collected data from Koreas SMEs. In specific, the primary data was based on surveys distributed to 303 SMEs. Based on empirical findings, we could get important determinants to improve compatibility between FTA-PASS and ERP systems. For instance, the government support, product standardization, HS Code clearness and market stability could be considered important determinants. Also, according to empirical findings, a positive relationship between system compatibility an export performance was supported. Analyzing comprehensive determinants of system compatibility can be suggested as an important topic for future research.

• 한국벤처창업학회:학술대회논문집
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• 2021.11a
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• pp.173-176
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• 2021

중국 중소기업들은 기업 경영에서 아웃소싱을 광범위하게 활용하고 있다. 이에 따라 아웃소싱을 위한 정보 수집 및 활용 역량은 기업의 성과에 영향을 미치는 매우 중요한 역량으로 작용할 수 있다. 특히, 글로벌 시장에서 이러한 정보 역량은 기업의 수출 경쟁력을 제고하고, 지속가능한 성과 향상의 핵심 역량으로 작용할 수 있디. 이에 본 연구에서는 중국 중소기업의 이러한 아웃소싱 전략을 개방형 혁신 전략의 프레임워크에서 논의하고, 중국 중소기업의 정보수집 및 활용 능력이 기업들이 추진하는 제품 차별화나 원가우위 전략에 미치는 영향을 실증분석 하였다. 또한, 이러한 정보 역량들이 궁극적으로 기업의 최종적인 성과로서 수출성과에 어떠한 영향을 미치는지 검증하였다. 이를 위하여 설문조사를 통해 중국 중소기업 345개사의 응답을 확보하였고, 구조방정식모형(SEM)을 통해 실증분석을 실시하였다. 분석 결과 중국 중소기업들의 정보수집 및 활용 역량은 각각 제품차별화 전략과 원가우위전략의 실행에 긍정적 영향을 미치는 것으로 나타났다. 또한 이를 통해 최종적으로 기업의 수출성과 역시 향상되는 것을 규명하였다.

• Korea Trade Review
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• v.47 no.6
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• pp.247-267
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• 2022

Since the Korea-Vietnam FTA was signed in 2015, trade between the two countries has increased rapidly, accounting for 6.8% of Vietnam's exports and 17.9% of its imports in 2020. The two countries show differences in import and export items. Vietnam has a high export ratio of agri-food products or products with the low-middle level of technology, while Korea has a high export ratio of products with the upper-middle level. The purpose of this study is to present implications by analyzing changes in trade competitiveness between Vietnam and Korea by technology level (2002-2020). For this purpose, statistics from UN Comtrade were used, and methodologies such as market share, Export Market Share (EMS), Trade Specialization Index (TSI), Intra-Industrial Trade Index (IIT), Revealed Comparative Advantage (RCA), and BCG Matrix were used. The results of the study are as follows. First, when looking at Vietnam's trade structure with South Korea by technology level, it was analyzed that the trade deficit widened as it showed a competitive disadvantage in high-tech, ICT, middle- and low-level technology items, excluding low-end technology items. Second, in terms of market share, the market share of Vietnamese products in the Korean market is continuously increasing, while the Korean market share in Vietnam is gradually decreasing from 2017. Third, Vietnam's export competitiveness to Korea by technology level shows that low-level technologies are competitive, but they are inferior in competitiveness in all other technology level, and especially in areas with high technology level, the level of inferiority is high. In conclusion, the trade relationship between Vietnam and Korea has maintained a mutually complementary rather than competitive relationship, which is expected to continue in the future.

• 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.