• The Journal of Asian Finance, Economics and Business
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• v.8 no.11
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• pp.107-120
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• 2021

The development of the ethnic minorities and mountainous areas (EMMA) is currently receiving the attention of countries around the world. This is demonstrated through a large number of studies, in many respects, in many different countries. The objective of the study is to find out the current situation of the commodity market in the ethnic minorities and mountainous areas (EMMA) of Vietnam. In particular, the authors will study whether there is a link between the ability to access governmental policies and the characteristics of this commodity market. To achieve the goal, the authors employed the secondary data collection method to gather the relevant information on government policies for EMMA and conducted an interview of seventy (70) enterprises in the Northern midlands and mountainous regions and the Central Coast to clarify the characteristics of commodity market. By Levene's test, the results showed that the accessibility to governmental policies has a certain influence on the development of the commodity market patterns in the EMMA in terms of diversification of distribution forms and sales method of the business. These findings brought some basic solutions to further enhance the role of the government in developing commodity markets in the EMMA of Vietnam.

• Journal of Korea Trade
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• v.23 no.2
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• pp.34-45
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• 2019

Purpose - This study investigates the lead-lag relations between the prices of major commodities imported into Korea and corresponding shipping freight rates. This paper aims to provide implications for cross-market causal relations between related economic segments. Design/Methodology - For economic long-run equilibrium between commodity prices and freights, a Johansen (1988) cointegration test is employed first. Then, Granger (1987) causality tests are performed under the vector error correction model (VECM) framework. Findings - The results indicate that the direction of causality varies by raw materials, which is attributable to different economic mechanisms in the corresponding shipping transportation sectors. In addition, the significance of causality becomes blurred during the post-2008 period. Practical Implication - Corporate managers in commodity trading, steelmaking, power generation, and oil refinery sectors can take advantage of the findings in this study as identifying leading economic indicators can be helpful for decision making in both short- and long-term strategies. Originality/value - This study is the first attempt to analyze the inter-relations between commodity prices and corresponding freight rates focusing on raw material imports of Korea.

• Journal of Distribution Science
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• v.21 no.9
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• pp.67-79
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• 2023

Purpose: To investigate the intensity of bilateral international trade of the Silk Road Economic Belt (SREB) countries with Kazakhstan, its relationship with logistics (LPI), to assess their contribution to economic growth and distribution of commodity flows. Research design, data, and methodology: The method of analyzing the bilateral trade flow was applied by using the trade intensity index (TII) and a multidimensional regression model describing the relationship between LPI and its components, TII, the volume of exports and imports, GDP. Results: The nature and directions of the relationship between TII and the key components of logistics, the positive impact of LPI on the intensity of trade are established. It is revealed that the intensity of trade between the countries in the direction of the EAEU-Kazakhstan has a greater impact on the growth of LPI than in the opposite direction. At the same time, the higher the level of trade integration and the volume of GDP, the stronger their impact on the efficiency of logistics and distribution of commodity flows. Conclusions: Effective distribution of commodity flows will require the development of logistics components based on the direction of bilateral trade and the size of countries, the intensification of state reforms in the field of international trade and distribution logistics.

• Journal of Korea Trade
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• v.27 no.5
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• pp.167-198
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• 2023

Purpose - This paper aims to compare and analyze the co-movements and information spillover effects between the international commodity futures markets and the South Korean stock markets during the COVID-19 and the 2008 financial crises. Design/methodology - The DCC-GARCH model is used in the co-movements analysis. In contrast, the BEKK-GARCH model is used to evaluate information spillover effects. The statistical data used is from January 1, 2005, to December 31, 2022. It comprises the Korea Composite Stock Price Index data and daily international commodity futures prices of natural gas, West Texas Intermediate crude oil, gold, silver, copper, nickel, soybean, and wheat. Findings - The results of the co-movement analysis were as follows: First, it was shown that the co-movements between the international commodity futures markets and the South Korean stock markets were temporarily strengthened when the COVID-19 and 2008 financial crises occurred. Second, the South Korean stock markets were shown to have high correlations with the copper, nickel, and crude oil futures markets. The results of the information spillover effects analysis are as follows: First, before the 2008 financial crisis, four commodity futures markets (natural gas, gold, copper, and wheat) were shown to be in two-way leading relationships with the South Korean stock markets. In contrast, seven commodity futures markets, except for the natural gas futures market, were shown to be in two-way leading relationships with the South Korean stock markets after the financial crisis. Second, before the COVID-19 crisis, most international commodity futures markets, excluding natural gas and crude oil future markets, were shown to have led the South Korean stock markets in one direction. Third, it was revealed that after the COVID-19 crisis, the connections between the South Korean stock markets and the international commodity futures markets, except for natural gas, crude oil, and gold, were completely severed. Originality/value - Useful information for portfolio strategy establishment can be provided to investors through the results of this study. In addition, it is judged that financial policy authorities can utilize the results as data for efficient regulation of the financial market and policy establishment.

• Journal of Korea Port Economic Association
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• v.38 no.4
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• pp.187-198
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• 2022

This study attempted to examine whether the spread of infectious diseases and quarantine measures such as border blockade and restrictions on movement due to the global spread of the COVID-19 pandemic is the cause of a decrease in product trade. To this end, a gravity model analysis was conducted using commodity trade statistics from Korea and major trading partners. As a result of the analysis, it was empirically confirmed that in 2020, the time of the spread of COVID-19, the influence of the COVID-19 pandemic was an obstacle to reducing Korea's trade. However, in the case of 2021, it was not possible to confirm whether the impact of the pandemic had a significant effect on commodity trade. As the impact of the COVID-19 pandemic in 2020 and 2021 is different, the commodity trade situation in 2022 when the COVID-19 epidemic is stably managed is also likely to change. Since factors such as response to COVID-19 and the spread of vaccines vary from country to country, it is thought that such various factors should be fully considered in the process of establishing policies to end the COVID-19 era

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.78
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• pp.73-91
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• 2018

When existing trade creates a product, a series of processes is terminated when a seller or a buyer subscribes for transportation insurance and is guided through customs procedures according to the terms of the sales contract and then receives payment for it. Training practical Trade kowhow is also educated focusing on the procedures of these contracts. A new paradigm of the fourth industrial revolution was launched in the development of information communication technology and computer technology. Also, due to the Xinhuo tradeism triggered by the United States, the risk of commodity trading is further increasing. Currently, trade practical education of university and industry is carried out for most lecture and discussion. Since 2014, the curriculumof the department of trade has been increasingly managed by the NCS process. The curriculumof the department of trade department has the advantage of being managed in consideration of the characteristics of the company that wishes to find employment and the level of work content. Standardized, the curriculumcan faithfully reflect the characteristics of the company and the level of the work content. In the new era, a new educational method that reflects the trend of the 4th industrial revolution era is necessary. In this research, we propose that service trade practical education should be educated mainly on contracts, not on procedural basis as with traditional commodity trade education.

• International Commerce and Information Review
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• v.16 no.1
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• pp.91-116
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• 2014

This study reviews the methodology for utilizing information technology by which even non-professionalists in FTAs and commodity classification area can perform the determination of commodity classification, with ease and by themselves, by means of easy utilization of the information on commodity classification and FTAs, of importing and exporting goods. This article examines the technological elements and logics, etc. which simulate the commodity classification for utilizing FTAs. To achieve this, the author has developed the technology to support the determination of commodity classification numbers by accumulating the database of examples for classification after analyzing the classification factors by each commodity item. Utilizing this Commodity Classification Determination Supporting System, users can enjoy effects of education as well as consulting. In this regards, the advantages of this system can be enumerated as followings : Firstly, self-checking on commodity classification can be performed. Secondly, time and cost for classification can be saved. Thirdly, comprehensive competitiveness will be enhanced by allowing traders to achieve the benefit of FTA preferential tariff, for they will be able to issue the Certificate of Origins on a more accurate and precise basis of commodity classification.

• International Commerce and Information Review
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• v.9 no.4
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• pp.67-89
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• 2007

The purpose of this study is to find out current problems facing the Commodity Trust of Internet Shopping Mall and to suggest proper solutions. the Commodity Trust of Internet Shopping Mall recently emerged as ubiquitous business environment that is not this only sales promotion but the Commodity Trust. Now we should have focused on the cooperation among the organizations in the Commodity Trust of Internet Shopping Mall; need various kind of government aids; need marketing-oriented and professional skills to build and enhance the growth of trade show exhibition industry. Accordingly, the important thing is an exploratory study of assessing the Commodity Trust of Internet Shopping Mall etc.

• Journal of Korea Trade
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• v.24 no.8
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• pp.133-152
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• 2020

Purpose - The purpose of this study is to analyze the determinants of commodity trade in Korea and China and to examine the implications of China's GVC shift from export to domestic market on its impact on Korea's trade. Design/methodology - This study selected 30 major trading partner countries. The dependent variable is the trade volume, and the independent variables are general economic factors such as gross domestic product (GDP), GDP per capita, distance, and FTA. Findings - The trade pattern of Korea's commodities shows that GDP has a positive relationship with trade, import, and export. Distance has a significant negative relationship with total trade, import, and export. FTA is significant for import but it is not significant for total trade and export. The trade pattern of China's commodities shows that GDP has a significant positive relationship with total trade, import, and export. Distance has a negative relationship with trade, import, and export. GDP per capita is not significant for total trade and import, but it is significant for export. FTA is significant for total trade and export, but it is not significant for import. Originality/value - Existing papers were studied mainly in certain industrial sectors such as agriculture, manufacturing, automobile industry and steel industry. This paper attempts to collects vast amounts of data about the 30 countries of Korea and China respectively and analyzes by Random Effect Model dividing the goods (0 to 9) in units of STIC (Rev. 4). The major contribution is that the decision factors affecting commodity trade can be analyzed in SITC units (0-9) to obtain analysis results that are subdivided by product group and organized by product.

• Journal of Korea Port Economic Association
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• v.37 no.4
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• pp.145-160
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• 2021

This study attempted to analyze the trade in goods effect of the Korea-ASEAN FTA by using logistics performance index, which are evaluation indicators of logistics industry workers on the logistics environment and logistics system in international trade. The World Bank's logistics performance index are six indicators: customs clearance, logistics infra, ease of shipment, logistics services, goods tracking abilities, and on-time transportation. The purpose of this study was to examine how it affects commodity trade between Korea and ASEAN states using the gravity model using panel data. Through this, it was confirmed that logistics performance index affect the increase in commodity trade.