• Title/Summary/Keyword: Export Risk

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A Study on G2 Risk and Export Diversification: Focusing on Export Support System for SMEs (수출다변화를 통한 G2 리스크 극복 방안에 관한 연구: 중소기업 수출지원 정책을 중심으로)

  • Choi, Don-Seung;Khoe, Kyung-Il
    • 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.

A Study on the Role of Export Insurance for Enterprise Risk Management of International Trade Business (중소수출기업의 전사적 리스크관리를 위한 수출보험의 역할에 관한 연구)

  • Chang, Dong-Han;Yu, Kwang-Hyun
    • THE INTERNATIONAL COMMERCE & LAW REVIEW
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    • v.49
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    • pp.379-405
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    • 2011
  • With the fast growing of international trade and ever-changing trade environment Korea is facing more risks in international trade and they are getting more diverse and happen more frequent with high severity. Big firms of international trade are ready and treat the risks quite well, but small and medium size firms have hard time to manage the risks due to their poor understanding, not much capital to spend, and weak skills of risk management. Holding significant size of international trade of Korea, the small and medium size firms need systematic and integrated risk management and the K-sure(former Korea Export Insurance) can make a significant contribution to help them manage risks in international trade business. This study is proposing the adoption of ERM(Enterprise Risk Management) for international trade business of Korea. Especially for small and medium size firms of international trade, the K-sure may set up integrated risk management system to help them and promote the export growth, which is a great mission of K-sure.

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The Effect of competitive strategy on Firms' Export Performance : Focusing on the Moderating Effect of Entrepreneurial Orientation (중국 중소기업의 경쟁전략이 수출성과에 미치는 영향 : 기업가 지향성의 조절 효과를 중심으로)

  • Sangyun Han;Hongchao Liu
    • Korea Trade Review
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    • v.47 no.4
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    • pp.103-124
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    • 2022
  • For venturing into international markets, small and medium enterprises (SMEs) have not only emphasized internal resources but entrepreneurial orientation has also become the need of the day due to its significant role in increasing firm's competitive capabilities. Although research indicates that the competitive strategies can significantly impact export performance, minor attention is given to the relationship between entrepreneurial orientation, business competitive strategy and export performance of small and medium enterprises (SMEs). This study scrutinizes the effect of each dimension of entrepreneurial orientation (i.e., innovativeness, risk-taking, and proactiveness) and each of generic competitive strategies (i.e., cost leadership and differentiation) on the export performance of Chinese SMEs. And we investigated the moderating effect of entrepreneurial orientation on the relationship between the competitive strategies and export performance. We surveyed 217 Chinese SMEs through a structured questionnaire. For the data analysis and hypotheses testing, we used AMOS. 27. The findings display that differentiation and cost leadership strategies significantly improve export performance. The innovativeness, risk-taking and proactiveness also spur Chinese SME's export performance. Further we find that adding entrepreneurial orientation significantly improves our model of the relationship between the competitive strategies and export performance. Thus, our study extends the entrepreneurial orientation literature and provides interesting new insights into how entrepreneurial orientation helps firms create more successful export operations.

The Role of Export Insurance for the Korean Export Promotion: Reflecting the Market Share of Korean Export in Trading Partner Countries (한국수출의 독점정도에 따른 수출보험의 수출촉진 효과 분석)

  • Song, Jeong-Seok
    • International Commerce and Information Review
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    • v.10 no.1
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    • pp.259-277
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    • 2008
  • This paper empirically analyzes the influence of export insurance on export promotion using panel data for the Korean case during the sample period from 2003 to 2006. We use the Korean export's share in trading partners' imports as a weight for the weighted least square (WLS) estimation to measure the effect of export insurance on the export promotion. Our main finding is that export insurance subsidy seems to enhance the export performance when the Korean export takes greater share in other countries' markets. On the other hand, under weaker monopoly power of the Korean export, export risk and trading partners' GDP growth rate has more influence on the export promotion rather than export insurance subsidy. Our finding implies that policy makers and practitioners should discern the Korean exports' monopoly power differential across trading countries for better performing export insuarnce policy.

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Government Support and Risk Management to Kaesong Industrial Business (개성공단 진출 기업에 대한 정부지원과 리스크 관리)

  • Kim, Jae Seong
    • THE INTERNATIONAL COMMERCE & LAW REVIEW
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    • v.63
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    • pp.245-260
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    • 2014
  • This study is aimed to summarize a tense situation of Risk management for Kaesong Industrial Business Enterprise in 2013 and to investigate trade insurance of K-sure. Now we have to find a new way to protect Kaesong Industrial Business Enterprises from uncertain environment and also need to prevent a recurrence of parallel cases in the domain of South-North economic cooperation in Korean peninsula. There are two method to protect Kaesong Industrial Business Enterprises. First they rely on the Korea government for protection. Second they need to effect trade insurance of K-sure. such as Export Credit Guaranty or Short-term Export Insurance. They shall create a wise predictable environment to protect Kaesong Industrial Business Enterprises themselves without resort to Korea government. Of course there are many things left behind to consider I hope it will be helpful to those who prepare South-North economic cooperation especially in Kaesong Industrial Complex.

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Study on Main Issues and Points of K-sure's Refund Guarantee System of Korean Small and Middle Shipbuilding Industries Around Global Financial Crisis -Focus on the Support of K-sure for 'S' Shipbuilding Co.- (한국무역보험공사의 중소 조선 산업에 대한 보증제도 운영지원과정상의 문제점과 정책시사점)

  • Lee, Eun-Jae
    • International Commerce and Information Review
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    • v.14 no.4
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    • pp.339-360
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    • 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.

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A study on International Payment Trend and Measures to Protect Credit Risk by International Factoring (국제대금결제 추세와 국제팩토링에 의한 신용위험 대처방안에 관한 연구)

  • Park, Se-Hun;Han, Ki-Moon
    • THE INTERNATIONAL COMMERCE & LAW REVIEW
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    • v.44
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    • pp.85-107
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    • 2009
  • L/C allows the exporter to have a bank's payment undertaking against shipping documents required by L/C. This means that the exporter can take export proceeds from a L/C issuing bank regardless of importer's payments and therefore the L/C better mitigate importer's credit risk compared to remittance and collections. Recently the use of L/C has been on down trend in line with increasing use of T/T, causing a big change of payment system. This tells that the payment method change in Korea is positive as the change also happens same in developed countries. This however gives more buyer's credit risk to exporters and therefore a systematic solution to this negative effect is required. In Korea, export credit insurance has been widely used to cover the buyer's credit risk. But the export credit insurance is limited because of lack of government's financial support and strict evaluation of buyer and exporter. Now Korea is ranked 10the largest trading country and therefore the exporters shall find another source for credit risk protection elsewhere. And as such this paper suggest International Factoring as a tool for the credit risk protection. The International Factoring gives advantages to the exporter in terms of credit protection and advances by purchasing account receivables on a without recourse basis.

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Empirical Study on Determinants of T/T Payment Risk in International Trade (무역거래에서 송금(T/T)방식의 결제 위험성에 영향을 미치는 요인분석)

  • Han, Woo-Jung;Cho, Hyuk-Soo
    • Korea Trade Review
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    • v.44 no.6
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    • pp.87-103
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    • 2019
  • L/C(Letter of Credit) is a common payment term designed to prevent credit risk in international trade. However, most companies prefer T/T (Telegraphic Transfer) payment due to its time and cost efficiency. According to related statistics, more than 70% of international trade contracts are based on T/T rather than other payment terms. The time required from the export negotiation to the completion of the export transaction and collection in international trade is very long. In this process, disputes related to settlement are continuous, so caution should be exercised. Therefore, whether or not the export payment is recovered in a timely manner is the core issue of trade transactions for exporters. The purpose of this study is to identify problems that cause delayed payments during settlement by the remittance (T/T) method, which can lead to settlement risk, in order to investigate those factors which can lead to delays in payments and increased risk as well as to determine ways to prevent such factors in advance. According to empirical findings, trading experience, transaction duration, and contract contents can be important determinants in terms of payment delays. Industry uniqueness and market uncertainty were found to be in opposition to the hypothesized relationships. The results of this study will be useful for trading companies to reduce their payment risk.

An Analysis on Determinants for China Market Entry Type of the Korean Company (한국기업의 중국시장 진출유형에 따른 결정요인 분석)

  • Lee, Je-Hong
    • International Commerce and Information Review
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    • v.12 no.3
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    • pp.223-242
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    • 2010
  • Since the reopening of official relations in 1992, Korean and China have become major trading partners, apart from myriad exchanges in culture and other aspects of society. The subject of this study is to analysis on determinants for China market entry type of the Korean company. This article measure the effects on Korea exporter interests of Korea's trade with china. This paper investigates the determinants of export and FDI referring in entry type in the China's market of Korea company. There are 250 samples and 130 returns, 170 of them are analyzed for a entry competitiveness. This paper has there main a parts, Multiple regression result shows that the export entry competitiveness are positively affected by the product character and market character. However, The enterprise character and location character does not affect in the export competitiveness. Also, the direct investment entry competitiveness are positively affected by the market character and location character. However, The enterprise character and product character does not affect in the direct investment. Logit analysis result show that the direct investment entry does positively affected in CEO international mind and export entry does affect in more than rival competitive products. In addition, the export entry does positively affected in the customer taste diversity, political risk and economical risk, market environment instability.

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A Study on Risk Management for Export Control on Strategic Trade in Supply Chain Management

  • Roh, Tae-Hyun;Park, Jin-Hee
    • Journal of Navigation and Port Research
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    • v.37 no.6
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    • pp.709-718
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    • 2013
  • In this study, AHP analysis was conducted through a survey that was organized by 9 job categories. The results show that sustainable operation risks have the highest priority level among all criteria with management interest having the highest priority level within sustainable operation risks related attributes. The most important risk attributes among stakeholder risks appeared to be asset security and cargo and conveyance security, with education and training being the most important among regulatory risks. Effective management and response to the risks from export controls on strategic trade require an understanding of supply chain security and compliance programs, effective training programs, investments for development of security systems that meet international standards. In addition, the government needs to focus on developing professionals and providing support for companies with compliance programs, working closely with businesses.