• Journal of Korea Port Economic Association
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• v.29 no.2
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• pp.239-253
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• 2013

Changes of a port's market share in the exports of domestic ports result from many interrelated factors. Therefore, the analysis of the export performance of a port should be put in perspective by analysing long periods to identify trends. This paper aims to show the development of competitiveness, product and geographical structure of the Busan Port's merchandise exports from 1995 to 2012 using constant-market shares (CMS) analysis. This article is relevant for Busan port because its export market shares have been showing disappointing path. The dynamic consideration of the CMS analysis, which the static indicators have been replaced by time series, helps to track all changes in the export structure and competitiveness of the Busan port over time. The long-term trend of the indicators suggests that it may be very hard for the Busan port to maintain its market share in the global environment. The advantage in competitiveness of the Busan port has vanished and the product and geographical structure effects show negative trends after 1995, pointing to vulnerability in the Busan port's exports.

• Journal of Korea Port Economic Association
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• v.29 no.3
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• pp.25-37
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• 2013

This study investigates the export behavior of port of Pyeongtaek-Dangjin and Daesan. The monthly data cover the period from January 2002 to December 2012. This paper tests whether the exchange rate and the industrial production are stationary or not, rejecting the null hypothesis of a unit root in each of the level variables and of a unit root for the residuals from the cointegration at the 5 percent significance level. The error-correction model is estimated to find that Daesan port is faster than Pyeongtaek-Dangjin in adjusting the short-run disequilibrium. This paper finds that the exchange rate coefficient of Daesan port is higher than that of Pyeongtaek-Dangjin port, while the industrial production coefficient of the former is much smaller than that of the latter. The industrial production coefficient is, however, much higher than the exchange rate coefficient in both ports. The rolling regression shows that the influence of exchange rate and industrial production tends to increase in Pyeongtaek-Dangjin port but tends to decrease in Daesan. The impulse response functions indicate that export volumes respond much greater to the positive shocks in industrial production than in exchange rate, and the exchange rate shock decays very fast, while the industrial production shock lasts very long.

• Journal of Distribution Research
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• v.7 no.2
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• pp.1-19
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• 2003

This study intends to explore the relationship between export motivating factors and export channel-structure. Two proactive motivating factors (market-opportunity development and productivity improvement) and one reactive motivating factor (business-risk hedge) were extracted from the survey data collected from Korean exporting firms. The data show that the two proactive motives enhance the likelihood of using the export channels that allow strong controls over export-marketing activities. This study also finds that these proactive motives tend to increase the amount of relationship investment in an export distribution channel.

• Journal of Korea Port Economic Association
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• v.25 no.2
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• pp.115-128
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• 2009

This study aims to identify the influence of exchange rate and national economy on Export through container ports (Busan Port, Incheon Port, Gwangyang Port, and Pyeongtaek Port) from January 2001 to October 2007. This study carried a unit root test on the results of the analysis and failed to reject the null hypothesis that level variables have a unit root at the level of 1%. However, it carried out a unit root test on the variables by the first order difference and succeeded in rejecting the null hypothesis aforementioned at the level of 1%. As a result of the cointegration test, it was found that the model is stable. When this study carried out a variance decomposition on the prediction error of export at container various container ports, it found 89% for Busan Port, 83% for Incheon Port, 86% for Gwangyang Port, and 84% for Pyeongtaek Port. These figures indicate that such variables significantly account for export at container ports. For Busan Port, Step 2 of exchange rate showed negative (-) effect, and Step 3 shows an extreme transition into a positive (+) effect. The national economy showed an extreme change from Steps 2 to Step 7, and then a positive effect has been maintained. The Incheon Port, Gwangyang Port and Pyeongtaek Port showed similar trends to Busan Port. From Step 7, it seems that they have Shifted to more stable trends.

• The Korean Journal of Applied Statistics
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• v.24 no.3
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• pp.455-464
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• 2011

Overseas direct investment is constantly on the rise, while domestic investment has been slowing and has led to concerns that the expansion of overseas investment may be weakening domestic investment. Considering the change of environment as economic growth, this paper analyzes the relationship between domestic and overseas investment using a regression tree. The result shows that overseas investment substituted domestic investment in the past (before 1985); however, they compensated for each other during the rapid growth period based on exports (1986-1997). The relationship turns out to be insignificant after the Asian currency crisis(after 1998). In addition, this paper also examines the factors determining domestic facilities investment and overseas direct investment at each stage of the changes in their influence due to globalization. Taking into account the results, we need to re-evaluate the current pattern of corporate investment apart from the past restricted point of view to help domestic enterprises efficiently utilize the international production network and resources.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.18 no.11
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• pp.252-262
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• 2017

In recent years, there has been a growing need for measuring consumer demand in overseas markets in order to increase the sales of Korean dried persimmons. The country of origin of products is associated with consumer ethnocentrism and has become one of the important factors for explaining consumer demand in overseas markets. The purpose of this study was to analyze the Taiwanese consumers' preferences and consumption behaviors concerning dried persimmon based on ethnocentrism. Results found no significant differences in the consumer awareness of imported dried persimmons according to the level of ethnocentrism. The perception and preference of Korean dried persimmons were statistically significant in terms of satisfaction, taste, color, safety, packaging, and hardness by level of ethnocentrism. The factors affecting Taiwanese consumer's preference of Korean dried persimmon were found to be the satisfaction of Korean dried persimmon. Age was the most influential factor in the purchase experience of Korean dried persimmon. This implies that it would be necessary to increase consumer awareness of Korean dried persimmons by targeting the segmented market and promoting marketing strategy in the Taiwan market for securing sales channels and generating profit.

• The Korean Journal of Financial Management
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• v.27 no.2
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• pp.63-84
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• 2010

We investigate whether FX hedging materially increases firm value by testing the valuation effect of Foreign Exchange Risk Insurance in Korea, using our sample of 84 listed firms with 617 observations between 2000 and 2008, Employing Tobin's Q as a proxy of firm value and foreign exchange risk insurance as a proxy of hedging instrument, we find a positive relation between firm value and the use of foreign exchange risk insurance. The hedging premium is statistically significant and is on average 7.4% of sample firm value. We also find our empirical results consistent with the preceding evidence that firm uses the hedging instrument in order to alleviate economic frictions and then hedging causes an increase in firm value.

• The Journal of the Korea Contents Association
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• v.20 no.7
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• pp.352-367
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• 2020

This study critically reviewed whether the South Korean press reported the issue of conflict between South Korea and Japan in a way consistent with their journalistic values. To this end, this study conducted frame analysis and textual analysis for the articles of three press(Chosun Ilbo, Hankyoreh and KBS) from the three major branches of conflict (Korea's Supreme Court's ruling on forced labor compensation in October 2018, the Japanese government's decision to regulate exports in July 2019 and the Korean government's decision to end GSOMIA in August 2019) to one week. There were many superficial reports of simply relaying conflicts around the occurrence and outcome of events, and there were few reports that analyzed the context in depth or suggested alternatives. And partisan reporting, which is cited as a key issue in the Korean journalism, has been strongly revealed in the midst of a conflict between Korea and Japan, a national emergency situation.

• KDI Journal of Economic Policy
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• v.27 no.1
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• pp.185-209
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• 2005

This study examines ERPT with asymmetric response and both import and export market shares, using wool trade data. The study found that, asymmetric response may be as common as symmetric response. In addition, the responses (both in price and quantity demanded) to the changes in exchange rate are considerably different across goods, and even for the homogenous goods, across countries. In case of depreciation, the export price changes more than appreciation case in general, and as a result the destination price changes less. It is also found that the cases of excessive or perverse pass-through are found more frequently than reported by previous studies. This finding points out that strategic behavior of firms or unexpected response to exchange rate fluctuation takes place more frequently than we commonly expect or take, in particular at disaggregated levels. When the model considers asymmetric responses of the export price to appreciation and depreciation (of exporter's currency), the estimation provided that for 39 trade cases out of 83, export price responded to appreciation and depreciation in different fashions, although the normal response was the dominating phenomenon with 99 cases or about 60% out of 166 cases. Market shares affected the extent and direction of responses in select cases. These findings will have important implications for policy makers and traders.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.19 no.3
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• pp.75-82
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• 2018

Recently, emerging countries have been paying attention to Korean economic development policy, trying to adopt the Korean regional innovation model. Korea is also interested in exporting its regional innovation model and enhancing economic cooperation with those countries. This paper aims to analyze the capacity-building programs of the Korean regional innovation model for emerging countries and suggests policies for it. For this purpose, the local innovators' participation patterns in the process of collaborative learning/networking/interaction are investigated with a focused group-interview method. From an analysis of the programs supported by Korean organizations, this study finds that the correlation coefficient between the training time of capacity building and the participation rate of local members' collaborative learning is very high (0.975). Since the correlation coefficient between the participation rates of collaborative learning and networking is relatively low (0.667), a policy to link local collaborative learning to networking should be provided. As the correlation coefficient between the participation rates of networking and interaction is high (0.950), networking is a key to regional innovation. This study recommends activity programs to promote networking among local innovators, rather than training and consulting programs. As introduced in the Chungnam Techno Park case, this study suggests that the capacity-building program should include programs to initiate a collaborative learning network, to create a local-demand, regional innovation model, and to operate the regional innovation platform, which should be done by local innovators in the emerging countries.