• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.47
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• pp.379-402
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• 2010

The Korea Foreign Trade Act(KFTA) was revised the penal provisions of the breach of the Country of Origin Labeling(COOL) recently. The ceiling of penalties became to 5 years for imprisonment, one hundred or three hundred million won for fine. The level of penalties are adjudged quite fair but the amount of penalty should be increased according to the profits from the breach or the nature of crime in some cases. The problems of the penalties are differences between KFTA and other related laws. There are related several laws on the breach of the COOL such as KFTA, Unfair Trade related Law, Customs Law, Consumer Protection Law, Law of COOL on Agricultural and Marine products etc. The penal provisions of the breach of the COOL has more heavier level than other the breach because of the criminal qualities. The problems are the penalty differences between the KFTA and the Unfair Trade Law under the Ministry of Knowledge Economy. The KFTA's penal provisions need to equate with Unfair Trade Law as long as same breaches on the COOL. The government can also consider some policies to rigid enforcement of breaches on the COOL. There are the Country of Origin Tracking system, the RoO Paparazzi System, Make public the names of habitual RoO Violators, Correction Order of breach of the COOL etc.

• Korea Trade Review
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• v.47 no.6
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• pp.39-53
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• 2022

This study conducted a conformity review of Korean shipping industry policy and suggested that the Korean five-year shipping reconstruction policy has not violated the WTO (World Trade Organization) trade law agreement yet. In order to investigate the latest Korean shipping policy, domestic and foreign reports were reviewed, and after that, the WTO's published data and domestic and foreign journals were analyzed. Through this process, this study tried to review the conformity of trade laws by major Korean shipping policies. The shipping industry is a representative service industry, and subsidies for this are not subject to WTO-level regulation in principle. The purpose of Korean shipping industry policy is to support the shipping industry, a type of service industry, and even if the ship-building and manufacturing industries (shipper) indirectly spread benefits in the process, this is unintentional or private-level support. That is, this study concluded that It is understood that Korea's five-year shipping reconstruction policy does not violate the WTO trade law agreement.

• The Journal of Industrial Distribution & Business
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• v.12 no.9
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• pp.31-42
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• 2021

Purpose: After the reform and opening up, China's overall economic development has entered a new era. From mutual investment and trade transactions between domestic provinces and regions to investment and trade with foreign companies, the continuous supplement of investment funds makes the follow-up development of all aspects of economic development smoother and has played a strong impetus. effect. Foreign direct investment has many influences on the economic development of a country or region. Research design, data and methodology: This article uses the sample data of Shandong Province from 2011 to 2019 to analyze the foreign direct investment in Shandong Province by industry, region, method and other aspects, and study the relationship and influence between foreign direct investment and economic growth. Results: The results show that there is a relatively close relationship between foreign direct investment and economic growth, and it has played a role in promoting economic development in many aspects such as industrial structure, foreign trade, and employment. Conclusions: At the same time, corresponding suggestions are put forward based on the analysis and conclusions drawn.

• Journal of Arbitration Studies
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• v.16 no.1
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• pp.3-44
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• 2006

Arbitration, which involves a final determination of disputes, has elements of the judicial process. Although an alternative to formal court litigation, it does not replace it in all aspect, but rather coexists with court procedure as an adjunct and part of administering justice. As the international trade has the basic problems of business managed between the parties of other countries having different laws, customs, cultures, currencies and religions. It has been known that these defects caused the commercial disputes and suspended economic fluence in world economic development through the foreign business. The United Nations launched 'the United Nations Convention on the Enforcement and Recognition of the Foreign Arbitral Awards' in 1958 to give effect to the international commercial arbitration. However, the convention has the limitation in excluding the legal obstacles originated from domestic arbitration systems of every states. As the result, the UN succeeded in making world wide arbitration law named 'The UN Model Law on International Commercial Arbitration' in 1983 and recommended all member countries to accept it to revise their domestic arbitration laws thereafter. Korea revised national arbitration law accepting 100% of the model law in 2000. In this respect korea became to have the international dispute settlement system. Korea will be able to settle more business disputes arisen from the international trade and enjoy the world credibility through the new arbitration system.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.41
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• pp.267-292
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• 2009

It is a right time to improve the Korea Foreign Trade Act(KFTA) as a fundamental law on Rules of Origin(RoO) in the global trade circumstances which are summarized FTA and WTO. The KFTA's RoO constitutes the labelling system of the Country of Origin, the criterion of it, the issuing of certificate of origin and the punishing offender mainly around the importing goods. This study has focused on the problems of KFTA's RoO at the macro and practical level, and proposed the programs to improve the KFTA's RoO about importing, exporting and domestic production goods. KFTA need to create a purpose clause to protect consumers and industries also, and has to be located a general and top position in the RoO of Korea. In the concrete, the labelling system of the Country of Origin has to set limited in the point of minimum necessity view. The criterion of the Country of Origin also has to improve the wholly obtained criterion, the changing in tariff classification criterion, value added criterion and processing operation criterion to harmonize WTO Rules of Origin and FTA Rules of Origin. The punishment ceiling against offender has to raise to guarantee the effectiveness of RoO.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.75
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• pp.117-136
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• 2017

Trade finance services have been played an important role in the Korea trade development history since 1960's. These days the trade environment is confronted by the 4th Industrial revolution and new trade protectionism. So we need to improve the Korea Trade Finance Services in order to improve Korea trade volume. Bank of Korea(BOK) also revised the Rule of Korea Trade Finance in 2014 and enlarged the trade fund for commercial banks where they handle the trade finance to small and medium enterprises(SME) in 2016. This article handle the current state and problems of Korea trade finance services and suggest the improvement measures as follows; First, the commercial banks, which handle trade finance fund, should improve the customs and practice of judge loan for SMEs. Second, the export volume counting rule for trade loan should harmonize between BOK's Rule and Foreign Trade Management Regulation under the Foreign Trade Act. Third, the processing trade and intermediate trade also can use the trade finance like other trade. Fourth, Trade finance should be in balance between export and import finance to defend the new protectionism. It means that the trade finance should expand to import in the certain conditions. Lastly, the related trade promotion agencies and their employees should improve their skills and abilities for handling trade finance.

• Fourth Industrial Review
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• v.2 no.2
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• pp.39-46
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• 2022

Purpose - This study analyzes the investment environment of South Korea by using the rating scale of Robert B Stobaugh, Jr, and draws conclusion implication. Research design, data, and methodology - The study conducted a survey on according to the political stability, capital repatriation, foreign ownership allowed, discrimination and controls, foreign vs domestic businesses, currency stability, willingness to grant tariff protection, availability of local capital, and annual inflation for last 5 years. The score of these eight aspects will be given based on the current situation in South Korea and the sum of the scores will be calculated. Result - China-Korea economic and trade relations are in a stage of transformation and upgrading, and the level of economic and trade cooperation in various fields is reaching a new level. It is hoped that Chinese enterprises will grasp business opportunities, strengthen research and analysis of the Korea market and achieve mutually beneficial cooperation. Conclusion - The investment environment of South Korea is superior according to the political stability, capital repatriation, foreign ownership allowed, discrimination and controls, foreign vs domestic businesses, currency stability, willingness to grant tariff protection, availability of local capital, and annual inflation for last 5 years.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.58
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• pp.313-328
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• 2013

Today FTA extends over the world and Korea as a main member of international trade is no exception. In the past Korea, as the developing countries, has made endlessly effort to induce foreign investment from foreign enterprise and/or government to be a truly OECD countries today and made it. Korea's trade economy was reached 1 trillion dollars in 2012. Now we have to find a new way to produce, process, procure goods from foreign investment and also need to protect our profit and/or rights within foreign judicial territory. There are two method to protect foreign enterprise or government. First they rely on general principles in WTO or Bilateral Investment Treaty that the principle of equality, national treatment, and most-favored-nation treatment, you can create a predictable environment to protect foreign enterprise and/or government. Second they need to incorporate contractual clauses in their agreement such as stabilization clause, force majeure, arbitration, governing law or sovereign immunity. Of course there are many things left behind to consider I hope it will be helpful to those who prepare foreign investment contract.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.52
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• pp.119-135
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• 2011

Korea's trading volume is expected to surpass USD 1 trillion in 2011. Korean economy achieves this largely due to its dependence on export and enhanced technological capacity and product quality. Improved recognition of Korean enterprises in the global arena also helped. However, the largest reason behind theses could be found in exporters' ceaseless marketing endeavors and continued government supports. Today, more and more people become to rely on trade exhibitions to boost export effectively. Trade exhibitions are employed as a useful tool to attract buyers and enter a market. This is because such exhibitions' marketing effect and professional aspects. South Korean export relies on large conglomerates for most part. However, 95% of the country's entire industry are small and medium-sized companies. This means that SMEs' export has a huge impact on the national economy. Therefore, as a way to improve SME export and minimize their losses, we need to use trade exhibitions more actively. The overseas policy insures only promotional activities regarding foreign exhibition and fair (including international events held in Korea), foreign distributor, shopping mall, home shopping, etc. and does not include air fare, traffic cost in the local place, accommodation cost and dining expenditures as costs to be excluded mentioned above. It is not easy for them to take part in events abroad if they have to pay for such expenses. If full financial support is difficult, the Korea trade insurance corporation still may give a certain level of aid for successful exporters to engage in marketing activities abroad more actively and further stimulate SMEs' export.

• International Commerce and Information Review
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• v.7 no.3
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• pp.213-228
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• 2005

China is our second largest trade partner and the biggest country of our investment. For this reason, the Korea active strategy for coping with China's changes is very critical at the current point in time due to the economic structure of Korea dependent on exports. This essay is aimed at studying the Foreign Trade Administration System of China and selecting Korea's prospective exports-imports to China. The purpose of this, essay is to help Korean trading corporation to understand the difference between Korea and China in foreign trade administration in order to promote bilateral trade between Korea and China.