• International Commerce and Information Review
• /
• v.19 no.1
• /
• pp.43-63
• /
• 2017

I focused on LVTS compare with Fedwire to advance a research effects in this paper. The Fedwire Funds Service is generally used to make large-value, time-critical payments. The Federal Reserve Banks provide the Fedwire Funds Service, a real-time gross settlement system that enables participants to initiate funds transfer that are immediate, final, and irrevocable once processed. The Fedwire Funds Service is a credit transfer service. While, The LVTS(Large Value Transfer System) is the high value electronic wire system that facilitates the transfer of irrevocable payments in canadian dollars across the country. Through LVTS, funds can be transferred between participating financial institutions virtually instantaneously in a fully collateralized environment. Thus in this article, first of all, I considered features of payment system between LVTS and Fedwire. Second, I analyzed the governing structure and legal background. Third, I focused on the operational policy and risk aversion policy. Lastly, I suggested that the payment and banking system have to assume, with good reason, more efficiently accurately and securely operation together with conclusion.

• International Commerce and Information Review
• /
• v.16 no.3
• /
• pp.53-71
• /
• 2014

This study analysis the current status and policies of Korean Medium Sized Enterprises, and compared with those of U.S and Germany Recently the number of Korean Medium Sized Enterprises is highly increased. But the average sales, employment, and export which can be the indicator for growth were decreased, particularly the decrease of R&D intensity was remarkable. There are 3 policies suggestions necessary to accelerate growth of Medium Sized Enterprises. First, reform the system for Medium Sized Enterprises to grow their activity. There need to direct support as well as arrange governmental regulation. Second, need to increase R&D aid for enhance innovative competence of MSE. Lone-term continuous support for R&D is most import for promoting competitive Medium Sized Enterprises. And the lastly, for successful supporting policy there need to modify the comprehensive criterion for present Medium Sized Enterprises.

• International Area Studies Review
• /
• v.15 no.2
• /
• pp.101-123
• /
• 2011

The paper is basically attempted to reveal the factor price equalization(FPE) on Korea, United States, and Japan by the ARDL-bounds testing. Wage-rental ratio and relative commodity prices between Korea, United States, and Japan are analyzed by employing equality and convergence frameworks. Empirical evidences are shown that necessary and sufficient conditions for the FPE seems to be easily satisfied in a small country such as Korea rather than large ones as like United States and Japan. And, the FPE is more easily achieved by a nominal term rather than the real term. Due to the fact that an error correction term in the Error Correction Model is insignificant, direct mobility of labor and capital between the countries is not that effective to a short run adjustment. It implies that the FPE is in general going through a long run path. It also has to be mentioned that a trade policy has to selectively implemented depending on the weight of trading volumes and it has to be build up by a long run basis.

• Korean Journal of Construction Engineering and Management
• /
• v.23 no.2
• /
• pp.16-23
• /
• 2022

This study examined the trend of international competitiveness over the past 10 years (2011-2020), focusing on comparative analysis with China and the United States, targeting seven major export items of Korean construction machinery based on 6 units of HS code. To this end, the export similarity index and trade competitiveness index were calculated and analyzed using UN Comtrade and Korea International Trade Association trade statistics. As a result of the analysis, competition between Korea and China has intensified over the past decade, and competition with the United States has remained at a certain level. Korean forklifts (8427.20) are exporting to the world with strong competitiveness in the global market. Excavators (8429.52) and loaders (8429.51), which have the largest export share of Korean construction machinery, have a weight advantage, but they are exporting due to price inferiority. The rest of the items were found to be inferior in price and weight, and were not competitive in the global market. These analysis results suggest the following implications. First, it is necessary to strengthen efforts to expand exports of universal construction machinery items, which are expected to increase in demand in the future, by boosting the economy and expanding infrastructure investment in accordance with eco-friendly policies. Second, excavators, which have been shown to have a quality advantage and a price competitive advantage, need to further strengthen export marketing activities not only in China and the United States but also in emerging developing countries.

• International Commerce and Information Review
• /
• v.12 no.1
• /
• pp.35-54
• /
• 2010

This article explored the bank's responsibilities in electronic payment system between Korea and U.S.A. In order to complete my research object, I used Article 4A of the U.C.C. and EFTA of 1978 and by Electronic Financial Transaction Act of Korea as a analytic instruments. I also adapted America's various regulations to regulate concerned parties(banks). The system of this article is going to display as fellows; First, I presented recent trend and legal stabilities of electronic payment in this article. Second, I focuses on the allocation of risk of loss caused by ambiguous term in payment orders that do not express the subjective intention of the senders. I also did analyze the solution procession of error occurring in course of send of payment order. Third, In any action which involves a customers's liability for an unauthorized electronic fund transfer, the burden of proof is upon the financial institution to show that the electronic fund transfer was authorized. Forth, Customers have to report the error and unauthorized electronic fund transfer after awaring of it. Then bank will be liable for such a unauthorized electronic fund transfer. But If customer's failure to report, the bank has exemptions. Lastly, In order to prevent or detect the unauthorized electronic fund transfer, bank will agree with custom to establish a commercially reasonable security procedure, while bank has duties to notify in order to decrease the loss resulted from unauthorized payment order in korea law.

• International Area Studies Review
• /
• v.15 no.1
• /
• pp.107-133
• /
• 2011

This paper aims to analyze the causal relationships between agricultural exports and economic growth in the U.S. economy by 50 states. Using the annual data from 1973 to 2007, the theoretical methodologies based on the export-led growth (ELG) model under the static model, the impulse response function (IRF) and forecast error variation decomposition (FEVD) under the vector autoregressive (VAR) model, and the Granger causality test. The results show the causal relationship between agricultural exports and economic growth at the states' level. Especially, the ELG hypothesis is strongly supported in the case of 16 states (HI, ID, KS, MD, MI, MN, NJ, NC, ND, OK, OR, RI, SD, TX, WA, and WI) and is also weakly supported in the case of 31 states. Therefore, the agricultural exports are important factor of developing in the U.S. economy, and furthermore some states (located in coastal area and breadbasket) indicate the strong evidence for agricultural exports-led growth.

• International Commerce and Information Review
• /
• v.13 no.2
• /
• pp.205-234
• /
• 2011

The study analyzes the shifts of international competition in the digital products market between South Korea and major FTA partners. The analysis utilizes trade statistics to calculate changes in the volume of trade, and in competitiveness between FTA partners. The target countries for this analysis include USA and the European Union with whom Korea has made agreements recently, and the period is set for the decade from 2000 to 2009. The trade records of the UN are employed to investigate the indexes of each country: trade structure and market share of digital products, the trade specialization index (TSI), and annual change of revealed comparative advantage index (RCA) against global market and both the American and EU markets. This analysis shows clearly the status quo of the development and growth of the international competitiveness of South Korea. The study will improve the understanding of international competitiveness in digital products and contents industry, which is rapidly evolving, and of the resulting industrial structure.

• International Commerce and Information Review
• /
• v.19 no.4
• /
• pp.29-50
• /
• 2017

In emerging technologies, innovation processes are dynamic in that the government needs to regularly review its policies to resonate with rapid technological advancements, changing public needs, and evolving global trends. In the 1990s, the Internet grew at an explosive rate, but many applications were constrained due to security concerns. Public Key Infrastructure (PKI) seemed to be the fundamental technology to address these concerns by providing security functions. As of 2017, PKI is still one of the best technologies for electronic authentication in an open network, but it is used only in limited areas: for user authentications in closed networks and for server authentications within network security infrastructure like SSL/TLS. The difference between expectation and reality of PKI usage is due to the evolution of the Internet along with the global adoption of new authentication policies under the Internet governance in the early 2000s. The new Internet governance based on the cooperation between multi-stakeholders is changing the way in which a government should act with regard to its technological policies. This paper analyzes different PKI policy approaches in the United States and Korea from the perspective of path-dependence theory. Their different policy results show evidence of the rise of the Internet governance, and may have important implications for policy-makers in the current global Internet society.

• International Commerce and Information Review
• /
• v.16 no.5
• /
• pp.27-47
• /
• 2014

Gartner mentioned IoT (Internet of Things) as one of the ten growth engines in the world in 2014. In addition, IoT has been frequently invited as a theme by participants at CES held in the early this year. Gartner predicts that the number of devices connected will reach to 26 billion and a total of economic value added will grow to 1.9 trillion dollars until 2020. The definition of IoT has been arranged in a different way by each institution. Therefore, this study arranged the concept of IoT which has been variously defined and used together with M2M and IoE. Further, forecasts presented by research institutions which stated domestic and foreign market outlook were collected and arranged. As IoT is on the uptrend and is selected as one of the ten growth engines in the world, it was found out how policies on IoT in the US, China, Japan and Korea were established and promoted as well as how recent strategies on IoT of major large companies have been carried out. Lastly, the following countermeasures of our government and companies were discussed.

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