• International Commerce and Information Review
• /
• v.13 no.1
• /
• pp.179-196
• /
• 2011

This study aims to measure the relative importance of trade insurance using AHP developed by Thomas Saaty of Pennsylvania in early 1970s. Moreover, it provides help in the development of a comprehensive strategy of trade insurance. To obtain priority of trade insurance in its functions, this study discovered significance and relative importance of two evaluation standards and four individual evaluation items. Of the two evaluation standards, importance of credit exposure was 63%. It was discovered that it was more important than political means (37%). Of the four individual evaluation items, importance of banking supplementation was 60%. It was more important than credit investigation of overseas traders (40%). Importance of trade promotion policy was 69%, which was more important than removal of anxiety in trade (31%). As a result of comparing priorities of the f tire evaluation items, priority of banking supplementation was 38% followed by trade promotion policy means (26%), credit investigation of overseas traders (25%) and removal of anxiety in trade (12%).

• International Commerce and Information Review
• /
• v.3 no.2
• /
• pp.235-259
• /
• 2001

최근 군산에 자유무역지역이 신규 지정되고 기존의 마산과 익산의 수출자유지역은 자유무역지역으로 이름이 바뀌었다. 새로 도입된 자유무역지역은 성격상 기존의 수출가공구적인 입장에서 탈피하여 제조, 물류, 금융 등이 동시에 가능한 복합적인 성격을 지향하며, 특히 대중국 수출전진기지로서의 군산자유무역지역의 성패가 서해안시대를 맞이한 국민경제 발전의 관건이 되고 있다. 본 연구는 기존의 자유무역지역의 경험과 외국의 자유무역지역의 제도, 군산자유무역지역의 현안문제 등을 종합적으로 검토하여 자유무역지역의 제도개선과 자유무역지역 통합관리시스템 도입방안을 모색하였다.

• International Commerce and Information Review
• /
• v.15 no.3
• /
• pp.289-310
• /
• 2013

In the past, an policy measures for the promotion of the export has actively used trade finance, but also in its effect there is no doubt. However, in 2008 the bankruptcy of Lehman Brothers triggered the global financial crisis. As a result, the need to effectively manage liquidity risk posed, and was a debut for Basel III. Focusing on trade finance banks are being made. Domestic commercial banks have not been able not utilize various trade finance techniques. In these situations, the introduction of Basel III can discourage trade finance. Therefore, responses should be prepared for it. Therefore, this study analyzes the status of trade finance system. And international regulation of the financial market are investigated for changes. Based on this, the development direction of Korea's trade finance is proposed.

• International Commerce and Information Review
• /
• v.14 no.4
• /
• pp.339-360
• /
• 2012

We have more risks in international trade market than in the domestic business market because economic activities are going on with business transactions in different countries. K-sure's Refund Guarantee System is the most important system for Korean Small and Middle Shipbuilding Industries' business, but Korean exporters of Shipbuilding Industries are more interested in export financing through K-sure rather than its financial supporting services. The export insurance becomes more important service for international trade business and it its count as the only one indirect way of supporting export business because export insurance is accepted internationally under the WTO system. Also, it is the only measure that can cover emergency risk, credit risk, exchange risk which cannot be covered by private insurance. As the major risk manager for Korean exporters, the K-sure needs to provide an integrated risk management service for customers. Korean exporters can take more challenges in ever competitive international trade market and we can witness promotion of export in the future which is essential to Korea's economic growth.

• International Commerce and Information Review
• /
• v.14 no.1
• /
• pp.345-366
• /
• 2012

The country using factoring actively today is England. The history of factoring could throw back to the Middle Ages, but modern factoring was developed in colonial age of the United States and it was known throughout England in 1960s. At the beginning, it performed mercantile agent who works in local area in order to get rid of uncertainty and inconvenience of a distant trade, but it was getting developed into a today's factoring system which focusing more on financial function. The factoring is called 'account receivable financing' in the United States and it is started out as sales agent and getting developed to 'del credere agent' who guarantee the payment. The activities of factors have been expanded to not only consignment sale and payment guarantees but also advance financing service. However, at the end of the 19th century, the direct sales(direct marketing) was expanded by the development of telecommunication and transportation technology, and then the marketing service by factor was degraded, but the collection of payment and advance finance had been maintained until now and developed into today's factoring system. Especially, the establishment of Uniform Commercial Code in 1931 had formed the basis for activating factoring in the United States through preparing a legal basis of factoring. Due to changes of international trade environment, most of commercial bank in Korea have to deal with export factoring as a trade finance service and it is desirable to specialize as a financing for small and medium company.

• Journal of Korea Society of Industrial Information Systems
• /
• v.28 no.2
• /
• pp.95-107
• /
• 2023

The purpose of this study is to investigate the impact of export promotion programs (EPPs) on the export performance of small- and medium-sized enterprises (SMEs), with a specific focus on the influence of EPPs for promising SMEs in the export market. Using data on SMEs provided by the Industrial Bank of Korea (IBK), we conducted a fixed-effects model analysis from 2016 to 2019. Our study shows that EPPs have a positive and significant relationship with export intensity. Further analysis reveals that SMEs utilizing the financing support system provided by EPPs tend to improve their export growth and financial performance relative to their counterparts. While EPPs can assist SMEs with their internationalization efforts, their similarity and redundancy are recognized as potential limitations. This study complements the existing literature that has mainly focused on surveys and cross-sectional analysis by specifying the research subject to promising SMEs in export, and analyzing the effects of the export promotion program supported by IBK Industrial Bank. The results of this study are expected to provide implications for improving SMEs' export capabilities.

• Bulletin of Korea Environmental Preservation Association
• /
• s.388
• /
• pp.14-17
• /
• 2010

"저탄소 녹색성장 기본법" 제정('10.1)을 계기로 녹색산업의 민간참여 확대 및 기술 시장 산업의 빠른 성장 유인을 위하여 녹색분야 금융 지원 방안을 목적으로 하는 '녹색인증제'가 지난 4월부터 본격 시작되었다. 녹색인증제는 정부가 녹색기술 또는 녹색사업에 대하여 인증을 해주거나 인증받은 녹색기술을 활용하여 일정 비율 이상의 매출실적이 있는 기업에 대하여 녹색전문기업으로 확인해 주는 새로운 제도이다. 녹색기술 보유 기업을 대상으로 자금 R&D 수출 마케팅 등 지원을 강화하고 정책자금 융자, 기술평가 보증 우대를 해주며, 녹색펀드 등에 투자하는 기업 또는 일반인에게 세제혜택을 주자는 취지다. 아직은 제도 시행 초기단계에 불과하지만 많은 녹색기술 보유 업체들로부터 관심이 커지고 있는 만큼 기존 인증제도와 변별력을 갖춘 차별화되고 실효성있는 추진을 기대한다.

• Korean Business Review
• /
• v.17
• /
• pp.27-52
• /
• 2004

The miraculous growth of Korean economy and its business corporations during 1960' s and 1970's are mainly due to the government leadership and its market intervention. We can find the reasons why the government initiated economic growth plan was so successful in Korea in its efficient bureaucratic government system and fair discipline to the corporations based on its contribution to the economy. During 1960's, the primary factors for the growth of business entities and the formation of business groups were the financial special favor, the preferential treatment in the new industry entrance and the merge & acquisition, lavish export incentives from the government, and the export explosion to Vietnam. During 1970's, the substantial deduction of corporations' private debt, enormous support in heavy industry investment, special benefits to general trading companies by the government, and the construction export to the Middle-East were the main causes of the business growth and the business groups formation. Also, the economic rent for the big companies had still been effective since 1960's. However, the preferential benefit to the big companies made them to diversify into the unrelated business ares and to be in very vulnerable financial position. The governmental support brought about the monopoly as well.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
• /
• v.77
• /
• pp.113-144
• /
• 2018

This study explores how to prevent the fraudulent export financing and its subsequent export insurance fraud in relation to O/A negotiation. Under the traditional letter of credit(L/C) transactions, the banks, as a negotiation bank, can extend trade financing to the exporters through negotiation of draft and/or shipping documents. Under the O/A transaction scheme, however, bank cannot ascertain existence of trade performance and it is much riskier to extend an advance financing to the exporters before the buyer sends confirmation of debt. In O/A negotiation. some exporters tried to fraud banks by falsifying the shipping documents and the size and gravity of this fraudulent export financing were huge. Therefore, this study examines the banking process in O/A-based trade financing, documents examination process, the negotiation of instruments, treatment of trade financing in export credit guarantee, most importantly, explores what could be the criteria for appropriate treatment of account receivable to insure the safe transfer of account receivable. To maximize the benefit for optimum trade financing, the Bank of Korea established several Trade Finance Rules (refers to "BOK Rules") requiring that commercial banks should maintain optimal credit limits(so called, 'the principle of optimal loan') to extend the trade finance. The K-sure post-shipment credit guarantee programs and short-term export insurance program(EFF)can also facilitate 'the principle of optimal loan' principle.

• Journal of the Economic Geographical Society of Korea
• /
• v.14 no.4
• /
• pp.453-466
• /
• 2011

The main aim of this paper is to explore the Korean development strategy in the context of trajectories of the economic development from 1961 to 2010. The fast and high growth in the period of 1961 and 2010 resulted from the 'export-oriented industrialization' through a combination of 'mass production-mass exports' and '(relatively) high productivity-low wages' up to the late 1980s, a mixture of 'mass production-mass exports' and '(relatively) high productivity-high wages' to the late 1990s, and a combination of the reformation of public and private sectors for overcoming the Korean financial crisis and the gradual improvement of the marketization and social safety net since 2000. With respect to this model of development, the global and national modes of regulation were established. Along with the formation of endogenous forces (as the national mode of regulation), that of exogenous forces (as the global mode of regulation) are the important rules of the game at the global level, which lead and stabilize the process of accumulation by the export-led industrialization in Korea. In this respect, the establishment of global modes of regulation is led by exogenous forces such as trade regulations, exchange rates, global-Korean industrial relations, and global regulations of loans to developing countries. On the other hand, the national modes of regulation are formed by endogenous forces such as the triangular relationship of the state, capital and labor.