• The Journal of Asian Finance, Economics and Business
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• 제8권11호
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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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• 제23권2호
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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.

• 유통과학연구
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• 제21권9호
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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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• 제27권5호
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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.

• 한국항만경제학회지
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• 제38권4호
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• pp.187-198
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• 2022

본 연구는 코로나 19 팬데믹의 전세계적인 확산으로 인하여 국경봉쇄와 이동제한과 같은 방역 조치와 전염병의 확산이 상품무역량을 감소시키는 원인인지를 살펴보고자 하였다. 이를 위해 한국과 주요무역 상대국의 상품무역 통계를 이용하여 중력모형 분석을 실시하였다. 분석 결과 코로나 19 확산시기인 2020년의 경우 코로나 팬데믹의 영향이 한국의 무역을 감소시키는 장애요인이라는 것을 실증적으로 확인 할 수 있었다. 그러나 2021년의 경우 팬데믹의 영향이 상품무역에 유의미한 영향을 주는 지 확인할 수 없었다. 2020년과 2021년의 코로나 19 팬데믹이 미치는 영향이 상이한 만큼 코로나 19 전염병이 안정적으로 관리되고 있는 2022년의 상품무역 상황 역시 달라질 가능성이 존재한다. 코로나에 대한 대응이나 백신의 보급 같은 요인들이 각 국가마다 상이하기 때문에 코로나 시대를 마감하는 정책 수립과정에 있어서 그러한 다양한 요인들을 충분히 고려해야 할 것으로 생각된다

• 무역상무연구
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• 제78권
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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.

• 통상정보연구
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• 제16권1호
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• pp.91-116
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• 2014

FTA가 확대됨에 따라 FTA별로 상이한 원산지결정기준을 활용한 특혜 수혜가 점차 어려워지고 있다. 특히 전문인력과 정보가 부족한 중소기업은 정확한 품목분류를 통한 원산지결정에 상당한 어려움을 겪고 있는 실정이다. 따라서 본 논문에서는 품목분류 지식이 부족한 비전문가도 수출입 상품의 품목분류를 손쉽게 하여 FTA를 최대한 활용할 수 있도록 지원하는 정보기술 활용방법으로서, 품목분류를 시뮬레이션 할 수 있는 기술적인 요소와 로직 등을 검토하였다. 그리고 이를 위해 품목분류를 위한 요소를 물품별로 분석해 사례베이스를 구축하여 품목번호 결정을 지원하는 기술을 제시하였다. 본 시스템의 사용자는 FTA 컨설팅 효과뿐만 아니라 교육 효과가 있는 품목분류 자가결정 시스템을 활용함으로써, 품목분류에 대한 자체점검이 가능하고 품목분류에 드는 시간과 비용을 줄일 수 있으며, 정확한 품목분류에 근거하여 원산지증명서를 발급하여 FTA 특혜관세 혜택을 향유할 수 있음에 따라 경쟁력을 강화할 수 있는 이점을 누릴 수 있을 것이다.

• 통상정보연구
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• 제9권4호
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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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• 제24권8호
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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.

• 한국항만경제학회지
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• 제37권4호
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• pp.145-160
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• 2021

본 연구는 국제무역에 있어서 물류규제와 물류역량에 대한 물류업계 종사자들의 평가지표라 할 수 있는 물류성과지표를 활용하여 한국과 아세안 FTA의 상품무역 증가에 미치는 영향을 분석하고자 하였다. World bank에서 발표한 물류성과지표는 관세통관, 물류인프라, 선적의 용이성, 물류서비스, 운반의 적시성, 물품추적역량의 6가지 세부항목과 총점으로 구성되어 있다. 본 연구에서는 이러한 물류성과지표를 관측변수로 하여 페널데이터 중력모형 분석을 실시하였다. 분석 결과는 물류성과지표의 총점과 세부항목 모두 상품무역량 증가에 긍정적인 효과를 나타내었다. 이러한 연구 결과는 한국과 아세안 양국교역 증대를 위해 물류비용을 현실화하고 물류 규제를 철폐하며, 물류 환경을 개선하기 위한 노력이 필요하다는 사실을 확인해주는 것이다.