• The Journal of Fisheries Business Administration
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• v.15 no.1
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• pp.131-153
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• 1984

Fishery resources are still abundant compared with other resources and the possibility of exploitation is probably great. The Korean fishery industry has grown remarkably since 1957, and Korea is ranked as one of the major fishery countries. Its of fishery products reached the 9th in the world and the value of exports was 5th in 1982. But recently a growth rate has slowed down, due to the enlargement of territorial seas by the declaration of the 200 mile, Exclusive Economic Zone, the tendency to develop fishery resources strate-gically in international bargaining, the change in function of the international organizations, the expansion of regulated waters, the illegal arrest of our fishing boats, the rapid rise in oil prices, and the fall in fish prices, the development of fishery resources as a symbol of nationalism, the fishing boats decreptitude, the rise of crew wages, regulations on fishing methods, fish species, fishing season, size of fish, and mesh size, fishing quotas and the demand of excessive fishing royalties. Besides the the obligation of coastal countries, employing crews of their host countries is also an example of the change in the international environment which causes the aggravation of foreign profit of fishing firms. To ameliorate the situation, our Korean fishery firms must prepare efficient plans and study systematically to internationalize themselves because such existing methods as conventional fishing entry and licence fishing entry are likely to be unable to cope with international environmental change. Thus, after the systematic analysis of the problem, some new combined alternatives might be proposed. These are some of the new schemes to support this plan showing the orientation of our national policy: 1. Most of the coastal states, to cope with rapid international environmental change and to survive in the new era of ocean order, have rationalized their higher governmental structure concerning the fishery industries. And the coastal countries which are the objectives of our expecting entry, demand excessive economic and technical aid, limit the number of fishing boats’entry and the use of our foreign fishing bases, and regulate the membership of the international fishery commissions. Especially, most of the coastal or island countries are recently independent states, which are poorer in national budget, depend largely on fishing royalties and licence entry fees as their main resources of national finance. 2. Alternatives to our entry to deep sea fishing, as internationalization strategies, are by direct foreign investment method. About 30 firms have already invested approximately US $ 8 million in 9 coastal countries. Areas of investment comprise the southern part of the Atlantic Ocean, the Moroccan sea and five other sea areas. Trawling, tuna purse seining and five other fields are covered by the investment. Joint-venture is the most prominent method of this direct investment. If we consider the number of entry firms, the host countries, the number of seas available and the size of investment, this method of cooperation is perhaps insufficient so far. Our fishery firms suffer from a weakness in international competitive ability, an insufficiency of information, of short funds, incompetency in the market, the unfriendliness of host coastal countries, the incapability of partners in joint-ventures and the political instability of the host countries. To enlarge our foreign fishing grounds, we are to actively adopt the direct investment entry method and to diversity our collaboraboration with partner countries. Consequently, besides proper fishing, we might utilize forward integration strategies, including the processing fied. a. The enterprise emigration method is likely to be successful in Argentina. It includes the development of Argentinian fishing grounds which are still not exploited in spite of abundant resources. Besides, Arentina could also be developed as a base for the exploitation of the krill resources and for further entries into collaboration with other Latin American countries. b. The co-business contract fishing method works in American territorial seas where American fishermen sell their fishery products to our factory ships at sea. This method contributes greatly to obtaining more fishing quotas and in innovation bottom fishing operation. Therefore we may apply this method to other countres to diffuse our foreign fishing entry. c. The new fishing ground development method was begun in 1957 by tuna long-line experimental fishing in the Indian Ocean. It has five fields, trawling, skipjack pole fishing and shrimp trawling, and so on. Recently, Korean fisheries were successful in the development of the Antarctic Ocean krill and tuna purse seining. 3. The acceleration of the internationalization of deep sea fishing; a. Intense information exchange activities and commission participation are likely to be continues as our contributions to the international fishery organizations. We should try to enter international fishery commissions in which we are not so far participating. And we have to reform adequately to meet the changes of the function of the international commissions. With our partner countries, we ought to conclude bilateral fishery agreements, thus enlarging our collaboration. b. Our government should offer economic and technical aids to host countries to facilitate our firms’fishery entry and activities. c. To accelerate technical innovation, our fishery firms must invest greater amount in technical innovation, at the same time be more discriminatory in importing exogeneous fishery technologies. As for fishing methods; expanded use of multi-purpose fishing boats and introduction of automation should be encuraged to prevent seasonal fluctuations in fishery outputs. d. The government should increases financial and tax aid to Korean firms in order to elevate already weak financial structure of Korean fishery firms. e. Finally, the government ought to revise foreign exchange regulations being applied to deep sea fishery firms. Furthermore, dutes levied on foreign purchaed equipments and supplies used by our deep sea fishing boats thould be reduced or exempted. when the fish caught by Korean partner of joint-venture firms is sold at the home port, pusan, import duty should be exempted.

• The Research Journal of the Costume Culture
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• v.27 no.1
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• pp.33-45
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• 2019

This study identified types of online retail internationalization in the fast-fashion context and proposed driving factors of retailers' choices in online-based market entry following the logic of the Uppsala model and the eclectic theory. In particular, this study proposes three types of online-based internationalization: 1) entering a host market with a physical store first, and then expanding with an online store, 2) entering a foreign market with an online store, then expanding to physical stores, and 3) entering only with an online business. In addition, this study investigated the causal factors, ownership-specific and location advantages, that influence the choice of the type of developmental process of online-based internationalization. To develop theoretical and managerial insights into the issue researched, this study employed a qualitative research design involving case studies of three European fast-fashion retailers, H&M, TOPSHOP, and ASOS. This study suggested that fast-fashion retailers that enter a host market with high ownership-specific advantages are likely to choose to enter the market with physical stores and then expand with online stores. On the other hand, when faced with uncertainties attributable to low ownership-specific or location advantages, fast-fashion retailers are likely to choose to enter with an online store first and then expand with physical stores as conditions change. Consequently, this study provides a better understanding for fast-fashion retailers who are willing to expand their businesses to foreign markets via online stores.

• Korea Trade Review
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• v.44 no.4
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• pp.1-17
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• 2019

The purpose of this paper is to suggest strategies for Korean companies to overcome the limitation of the international trade structure between Korea and Vietnam. This study examined foreign multinational distribution companies, Korean distribution companies and domestic distribution companies in Vietnam. A SWOT analysis conducted to propose effective strategies revealed that Saigon Mart, Vietnam's largest regional mart company, needs an O/W strategy and to capture market opportunities quickly through strategic alliances with foreign distribution companies, in order to gradually complement their core competencies internally. Lotte mart in Vietnam, one of Korea's three largest marts, needs to establish a T/S strategy in order to overcome the crisis situation in Vietnam market and succeed in business. BIG C Mart has over 40,000 diverse products needs to use a T/S strategy in order to effectively overcome the crisis situation in the Vietnamese market and to increase the possibility of business success. From the study findings and conclusions, various implications are derived. Vietnam is still very strong in socialism and regional characteristics, so it needs to build up close cooperation such as joint venture with local partners in the region and strategic alliances to increase the possibility of investment success.

• East Asian Journal of Business Economics (EAJBE)
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• v.6 no.3
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• pp.1-15
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• 2018

Purpose - This study investigates the effect of MNEs' characteristics on the use of foreign currency denominated debt in the context of Korean firms. This study examines the relationship between MNEs and the use of foreign debt focusing on the accessibility to the capital market in addition to the motive of hedging against foreign exchange exposure. Research design and methodology - Probit estimation is employed for estimating significant factors in determination of the use of foreign debt by firms. The dependent variable is a dummy variable to indicate whether a firm uses foreign debt or not at the end of 2004. Independent variables include foreign subsidiaries ratio, export to sale, R&D expenditure to sale, and credit rating. Results - The results show that the interaction between the level of internationalization represented by intra-regional diversification and the strategic characteristics embedded in the region of entry affects the use of foreign debt. In case of a high level of diversification within the developing region with a strong pursuit of asset exploitation, MNEs are more likely to use foreign debt, whereas a high level of diversification within the developed region with a strong pursuit of asset seeking, MNEs are less likely to use foreign debt. Conclusions - The differences between MNEs in terms of intra-regional diversification, strategic orientation, and the accessibility to capital markets as well as the hedging motive affect the use of foreign debt.

• Korea Trade Review
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• v.48 no.4
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• pp.1-21
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• 2023

This study investigates the effect of internationalization speed and scope on the performance in Korean SMEs. Through empirical regression analysis, the following results were identified. both the time-based speed of internationalization and the scope of internationalization by a geographical perspective have significant positive impacts on international performance. This implies that the earlier and wider in global market expansion, the more positive the effect on performance. It was also confirmed that the scope has a significantly greater effect on international performance than speed, which suggests that the geographical national scope is more meaningful for international performance than the initial foreign market entry speed. In addition, the characteristics of the CEO's international experience strengthened the positive relationship between internationalization speed and performance. In conclusion, it means that the internationalization speed and the scope after foreign market entry should be managed in a balanced way to enhance the level of SMEs internationalization.

• International Commerce and Information Review
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• v.11 no.2
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• pp.149-172
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• 2009

Service industries nowadays have become the subject of a scientific research. However, unlike research on manufacturing, there has not yet been a broader presentation of important aspects theoretically and methodologically. The importance of service sector in both national and global economies has grown significantly. An active participation of service industries in the internationalization process, notably by licensing and FDI, has occurred over time. But a few sub-sectors still dominate on this process, for example, financial institutions such as banks, securities, and insurance as well as producer services in advertising and accounting. On the other hand, personal services that are owned by small- and medium- sized firm have limited capabilities in their transnational transfer. This paper attempts to examine various factors influencing decisions for these small- and medium- sized Korean beauty firms in entering to the foreign markets. Determining factors for these firms in the engagement of internationalization depends largely on competitive advantages in both domestic and host countries, and they may be different from those in the sub-sectors mentioned above. Based on previous researches, i identified three categories of independent variables(characteristics of firms, managers, and competition) that can influence decisions to enter to the foreign markets. Seven hypotheses have been tested by using a sample of beauty firms in Daegu city and Kyungbuk province. The results show that the intention of these firms to enter to the foreign markets is significantly influenced by the factors of the innovative character of CEO's, the competitiveness of firms, and size of firms.

• Journal of Distribution Science
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• v.13 no.10
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• pp.23-34
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• 2015

Purpose - Currently, the foreign trade environment in China has shifted to a very different system. Korean enterprises have been forced to compete with Chinese enterprises in today's world market owing to the economic growth and technical improvement in China. Research design, data, and methodology - The author visited Korean export enterprises in Shanghai from January 5 to 12, 2014 to implement a questionnaire survey and conduct in-depth interviews with the local enterprises. The author investigated the Shenyang area using e-mail communication. For the questionnaire, one copy of the questionnaire was given to each business and to a staff member for each of the products when a company sold multiple products. Results - Selling cost advantage, efficiency of economic scale, and product differentiation had the most influence on Korean enterprises' export strategy to China. Additionally, entry barrier, product differentiation, and concentration all had an influence on Korean enterprise export strategy to China as well. Conclusion - Korean enterprises developed strategies for price priority, economies of scale, and product differentiation based on changes in the competitive structure in the Chinese market.

• The Journal of Industrial Distribution & Business
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• v.14 no.11
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• pp.27-35
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• 2023

Purpose: China's economy has changed considerably in recent decades. By delivering a comprehensive knowledge of the elements that support successful foreign direct investment (FDI) in China and practical insights for multinational firms operating in this dynamic environment, this research offers a new perspective and sets itself apart from previous studies. Research design, data and methodology: It is necessary to give a thorough overview of the body of information on successful FDI in China, which justifies the adoption of a systematic literature review. The study may use a wide range of studies because of this methodology, which guarantees that inferences have a solid and supported basis in data. Results: The findings in the present study have clarified how China's government policies and regulatory framework affect foreign direct investment (FDI). Previous studies have indicated that regulatory changes can significantly impact FDI. For instance, more foreign direct investment (FDI) has been drawn to liberalized industries such as technology and finance. Conclusions: In conclusion, for foreign direct investment (FDI) to be successful in China, it is essential to consider these four factors: local partnerships and cultural adaptation, market research and entry strategy, regulatory environment and policy support, and risk management and contingency planning.

• Journal of the Korean Society of Clothing and Textiles
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• v.27 no.9_10
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• pp.1081-1092
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• 2003

The purpose of this study was to identify the current situation of textiles and apparel firms in the overseas markets and to examine the relationship between firms' characteristic(i.e., sales volume) and international marketing strategies. A random sample of 311 textiles and apparel firms were selected. The survey design method was used to test conceptual framework. Adjusted response rate was 33.4%(n=115). Descriptive analysis (i.e., frequency, percent) and $\chi$$^2$-test were used for data analysis. About the current situation of textiles and apparel firms in the overseas markets, the motivation for international market entry was highly found to expand their operation from domestic to international market, and most firms were found to be involved with OEMs(Original Equipment Manufacturers) as an entry mode for international market. China and US market were the most popular market among Korean textiles and apparel firms. Product differentiation strategy, pricing strategy based on manufacturing cost and buyer's offering price, place strategy using foreign buyers and participating a few international exhibition were frequently used among Korean textiles and apparel firms for international marketing. Among textile firms, sales volume was related to product strategies(product development), price strategy(buyer's offer) and place strategy(channel). Among apparel firms, product strategy(product labeling), price strategy(price satisfaction). The findings of this can be used when Korean textiles and apparel firms do strategic planning and evaluate the international marketing strategies. Also information and results of this study may assist policy makers to develop better ideas and strategies for textiles and apparel industry.

• Journal of Korea Trade
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• v.25 no.4
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• pp.37-59
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• 2021

Purpose - Although models of innovation and exporting dominate recent studies of relations between innovation and access to foreign markets, relations between innovation and foreign direct investment (FDI) are less explored. This is especially true of relations between types of innovation and FDI. We fill that gap in the literature with empirical evidence that clarifies whether firms enter foreign markets through exports or FDI. Design/methodology - In order to assess the role of innovation in firms' international engagement strategies, we develop research hypotheses and present new empirical evidence on firms' choice of entry - exports and FDI - based on firm-level data. Findings - Our empirical results suggest that the impact of product innovation is more significant in transition from being a purely domestic firm to an exporter, while process innovation more significantly affect transition from being an exporter to a multinational enterprise. Our results also support 'self-selection into FDI' rather than 'learning-by-performing FDI' in the relationship between innovation and firms' overseas expansion. Originality/value - Recent literature on the relationship between innovation and firms' participation in foreign markets is dominated by models of innovation and export behavior. However, foreign direct investment by multinational enterprises may also be associated with firms' innovative activities. We first analyze how product and process innovations influence firms' choices to initiate exports or FDI.