• Journal of Korea Trade
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• v.23 no.7
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• pp.147-155
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• 2019

Purpose - As the U.S.-China trade war has become considerably worse, the Chinese government is considering applying non-tariff barriers to trade, especially local contents rule. The main purpose of this research is to check whether it is suitable for Korean investors to invest in the current Chinese capital market. Design/methodology - In order to check the stability of the recent Chinese capital market, we investigated the behavior of foreign equity investment (including Korean equity investment) in the Chinese capital market after China announced the Shanghai-Hong Kong Stock Connect (SH-HK Connect). In this paper, we researched whether international portfolio investment would or would not contribute to an increase the volatility of an emerging market's stock market (Chinese capital market) when foreign investors make investment decisions based on the objective of short-term gains by rushing into countries whose markets are booming and fleeing from countries whose markets are falling. Findings - The empirical results indicate that foreign investors show strong, negative feedback trading behavior with regard to the stock index of the Shanghai Stock Exchange (SSE), and when the performance of foreign investors in the Chinese stock market was fairly good. Also, we found evidence that the behavior of foreign investors significantly decreased volatility in SSE stock returns. Consequently, the SH-HK Connect brought on a win-win effect for both the Chinese capital market and foreign investors. Originality/value - It appeared that the Chinese capital market was very suitable for Korean investors after the China's declaration of the SH-HK Connect. However, the win-win effect was brought on by the Chinese government's aggressive capital control but the capital controls could possibly cause financial turmoil in the Chinese capital market. Therefore, Chinese reform in industrial structure and the financial sector should keep pace with suitable capital control policies.

• Korea Trade Review
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• v.45 no.3
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• pp.1-19
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• 2020

Recently, traditional trade in the global trade market has stagnated in the aftermath of the US-China trade war and the coronavirus (COVID-19) pandemic. However, the global e-commerce market is growing rapidly, presenting a new opportunity for exports. To examine the effect of an online matching and logistics system on reverse overseas direct purchase and the mediating effect of reliability, this study conducted a questionnaire survey on 320 employees in a Korean trade company from March 10 to April 30, 2018. The study model's goodness of fit was tested, and an analysis was performed using the AMOS statistical package. The online matching and logistics system were found to have a positive effect on reverse overseas direct purchase. Furthermore, results revealed that while a country's reliability mediated online matching and reverse overseas direct purchase, it did not mediate the logistics system. These results mean that online matching is affected by a country's reliability in overseas consumers' buying decision process. This study provides implications for the future directions of export companies and national policies to promote reverse overseas direct purchase. Future research including more countries and companies would be able to make further contributions toward the development of the Korean cross-border e-commerce industry.

• Journal of Arbitration Studies
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• v.17 no.2
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• pp.101-124
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• 2007

The legal systems and open-door policies to foreign affairs in North Korea have been followed by those of China. Whereas an arbitration system of South Korea accepted most parts of UNCITRAL Model Law, North Korea has succeeded to an arbitration system of a socialist country. China, under the arbitration system of socialist country, enacted an arbitration act reflected from UNCITRAL Model Law for keeping face with international trends. We have used these three arbitration system as a tool for analyzing an arbitration system in North Korea. With an open-door policy, North Korea and China enacted an arbitration act to provide a legal security. Therefore, the core parts of arbitration system in North Korea and China are based on a socialist system while those of South Korea is on liberalism. So, North Korea and China enacted an arbitration act on the basis of institutional arbitration, on the other side, South Korea is based on ad-hoc arbitration. Because of these characters, in terms of party autonomy, it is recognized with the order as South Korea, China and North Korea. Also North Korea enacted separate 'Foreign Economic Arbitration Act' to resolve disputes arising out of foreign economies including commercial things and investments. There are differences in arbitration procedures and appointment of arbitrators : South Korea recognizes parties' autonomy, however parties should follow the arbitration rules of arbitration institutes in North Korea and China. According to an appointment of arbitrators, if parties fail to appoint co-arbitrators or chief arbitrators by a mutual agreement, the court has the right to appoint them. In case of following KCAB's rules, KCAB secretariats take a scoring system by providing a list of candidates. A party has to appoint arbitrators out of the lists provided by arbitration board(or committee) in North Korea. If a party may fail to appoint a chief arbitrator, President of International Trade Arbitration Board(or Committee) may appoint it. In China, if parties fail to appoint a co-arbitrator or a chief arbitrator by a mutual agreement, Secretary general will decide it. If a arbitral tribunal fails to give a final award by a majority decision, a chief arbitrator has the right for a final decision making. These arbitration systems in North Korea and China are one of concerns that our companies take into account in conducting arbitration procedures inside China. It is only possible for a party to enforce a final arbitral award when he applies an arbitration inside North Korea according to International Trade Arbitration Act because North Korea has not joined the New York Convention. It's doubtful that a party might be treated very fairly in arbitration procedures in North Korea because International Trade Promotion Commission controls(or exercises its rights against) International Trade Arbitration Commission(or Board).

• International Commerce and Information Review
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• v.13 no.1
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• pp.217-241
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• 2011

The basic purpose of Customs Drawback System of the material for export goods is export support as cut a price down the export goods' price. Especially the trade volume between South Korea and China is the greatest in comparison with other countries in 2010. Therefore companies involved China is necessary to understand exactly for China's tariff system(duty drawback system). Due to inconsistent policies, it is difficult to understand VAT-related provisions on exports goods of China compared with South Korea Tax System. Accordingly, the results of this study is significant in China-related companies. In South Korea and China, amount of customs duty drawback is very large 4.017606 billion won 732.8 billion yuan respectively. Thus, the amount of customs duty drawback is greater, a comparison of customs duty drawback in South Korea and China is very necessary on Customs Drawback System.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.56
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• pp.77-100
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• 2012

China draws lots of attention from many multinational corporations all over the world as one of the biggest market in the world. Due to the huge territory and explosive population, it is considered that China has endless potentiality. Moreover, since China joined the WTO, China opens its market, developing the policies for opening of its market. Based on the enormous purchasing power, China gets another attention in industry of electronic commerce. With the development and expansion of information technologies, China's electronic commerce has rapidly developed. Since the market of electronic commerce in China is in the developing stage, there is still a big market for electronic commerce and also Chinese government has made much effort in order to develop the industry of electronic commerce. However, in spite of these circumstances, the Chinese electronic commerce industry is far behind the developed countries. There could be many reasons for slow development in industry of electronic commerce and the main purpose of this paper is to discuss these reasons. First of all, the current status of electronic commerce industry in China will be analysed, and then, main problems of electronic commerce industry will be discussed in order to find out the reasons why the industry of electronic commerce cannot develop as much as it is anticipated. It is expected that this paper can contribute to understanding electronic commerce industry in China, and it will be helpful for companies which have a plan to extend their businesses in China.

• Journal of Convergence for Information Technology
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• v.9 no.10
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• pp.48-55
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• 2019

This study argued problems and improvement of export support system for SMEs in the uncertain world global trade environment with G2(US-China) risk. In SMEs export support system, The authorities needs stronger control tower to promote consistent export support policies. There is also another problem of repetitious work that export support system has been operated by individual project. In order to overcome these problems, first, the authorities set clearly organization to control various export support policies. Second, export support system needs the efficient operation based on long term road map. Third, the authorities defines clear roles and responsibilities of supporting units, and enhances cooperation between the different organizations. Finally, the system should arrange performance evaluation index and feedback system to build the desirable export support system.

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

• Acta Via Serica
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• v.5 no.2
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• pp.25-49
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• 2020

This essay, based on an oral presentation, provides the non-specialist, with an evaluation of the Mongols' influence and China and, to a lesser extent, on Russia and the Middle East. Starting in the 1980s, specialists challenged the conventional wisdom about the Mongol Empire's almost entirely destructive influence on global history. They asserted that Mongols promoted vital economic, social, and cultural exchanges among civilizations. Chinggis Khan, Khubilai Khan, and other rulers supported trade, adopted policies of toleration toward foreign religions, and served as patrons of the arts, architecture, and the theater. Eurasian history starts with the Mongols. Exhibitions at the Metropolitan Museum of Art and the Los Angeles County Museum of Art confirmed that the Mongol era witnessed extraordinary developments in painting, ceramics, manuscript illustration, and textiles. To be sure, specialists did not ignore the destruction and killings that the Mongols engendered. This reevaluation has prompted both sophisticated analyses of the Mongols' legacy in Eurasian history. The Ming dynasty, the Mongols' successor in China, adopted some of the principles of Mongol military organization and tactics and were exposed to Tibetan Buddhism and Persian astronomy and medicine. The Mongols introduced agricultural techniques, porcelain, and artistic motifs to the Middle East, and supported the writing of histories. They also promoted Sufism in the Islamic world and influenced Russian government, trade, and art, among other impacts. Europeans became aware, via Marco Polo who traveled through the Mongols' domains, of Asian products, as well as technological, scientific, and philosophical innovations in the East and were motivated to find sea routes to South and East Asia.

• Journal of Korea Technology Innovation Society
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• v.17 no.2
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• pp.421-447
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• 2014

Traditional medicine has been integrated into the national health system in many countries such as Korea, China, Taiwan, etc. Korea and China are most representative among them. The purpose of this study is to compare the policies on traditional medicine in Korea and China focusing on where it came from and where it is headed. In this regard, the study suggested the first analysis tool in the world for analyzing the policy of traditional medicine. The results of the study are as follows: First of all, the development process of Korean Medicine (KM) and Traditional Chinese Medicine (TCM) shows the same pattern, that is, both are influenced by its own national policies. Secondly, the difference between the two countries is due to the gap in the development status or the different aspects in national heath system. TCM is more vitalized in health system and has larger category, and stays ahead in globalization compared to KM. TCM covers Chinese medicine, integrative medicine and ethno-medicine. Korea emphasizes the role of KM in the declining birthrate and aging society, and promotes the overseas patient invitation strategy. China, on the other hand, establishes the medical system for emergency medical treatment and preventive treatment of major diseases and promotes overseas expansion of TCM service. In addition, Korea stressed the safety and distribution of herbal medicine, and China emphasizes production technologies. Korea has a strong medical device industry along with the government's fostering policy; however, in China, medical devices are in the R&D stage yet. Even though both countries promotes the drug development from natural products, Korea focuses on developing herbal cosmetics in application industry, but China shows weakness in policies on application industry. China shores up the foundation for culture and theory of traditional medicine, while Korea doesn't have related policy. Korea places emphasis on promoting collaboration with international organizations and medical volunteer programs, whereas China is more interested in mutual cooperation and real trade with other countries.

• Journal of Korea Trade
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• v.27 no.4
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• pp.77-100
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• 2023

Purpose - Using the Model of Goal-Directed Behavior (MGB), this study identifies the critical factors that influence consumer intention to purchase an electric vehicle (EV). This study also provides differentiated policy implications to the Korean and Chinese governments and EV-related companies for the expansion of the EV market in both countries by comparing consumers' perceptions of EV purchase intentions. Design/methodology - Our extended MGB model adds to the standard model consideration of financial incentives, perceived risks, and environmental concerns. An online survey was conducted of Korean and Chinese consumers. Based on the collected responses, all tested hypotheses were verified using PLS-SEM (Partial Least Squares-Structural Equation Modeling). Differences in the path analysis results between Korea and China were compared and verified using Henseler's MGA (multi-group analysis), the parametric test, and the Welch-Satterthwaite test. Findings - The most critical factor that influences the intent to purchase an EV in consumers from both countries is personal desire. PBC and SN were identified as the critical factors that respectively increase personal desire in Korea and China. In addition, in Korea, among the three factors EC, FIP, and PR, environmental concerns were found to have the most significant impact on attitudes and purchase intention. In contrast, in China, economic factors (specifically financial incentives) had greater importance than environmental issues. Originality/value - This study has academic contributions in that it presents a new research model that includes financial incentive policies, environmental concerns, and perceived risk variables based on the MGB to explore consumers' purchase intentions. This study can also make a practical contribution in that it provides some meaningful implications to the governments and EV-related companies of both countries based on the differences in the analysis results of the Korean and Chinese markets.