• 무역학회지
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• 제45권2호
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• pp.51-65
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• 2020

According to an analysis of 560 foreign-invested companies investing in South Korea's manufacturing industry, the following three facts were found. First, the proportion of sales by manufacturing foreign-invested companies is divided into 68.5 percent of domestic sales and 31.5 percent of exports. From 68.5 percent of domestic sales, sales to Korean companies are 60.5 percent, including 37.1 percent for large companies and 23.4 percent for small and medium-sized companies, while only 8.0 percent for domestic consumers. Second, the investment sectors of manufacturing foreign-invested enterprises are 'machine and equipment manufacturing', 'chemical and chemical-chemical material manufacturing-excluding pharmaceuticals', 'electronic components, computers, video, sound and communication equipment manufacturing' and 'vehicle and trailer manufacturing'. It overlaps with electric·electronics, petro-chemicals and automobiles, which are Korea's main industries and areas of Korean global companies. Third, 31.5 percent of the sales of foreign-invested companies in the manufacturing sector are exported. Foreign-invested companies export their products to use them for their parents or affiliates or to the third countries. The analysis shows that foreign-invested companies invested in Korea for B2B transactions with Korean companies. The implications are that Korea can attract foreign investments by utilizing Korean companies' demand for intermediate goods. Foreign-invested companies can invest in Korea in order to use Korea, which has signed free trade agreements with the US, the EU and ASEAN, as an export platform.

• 한국콘텐츠학회논문지
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• 제22권6호
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• pp.692-700
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• 2022

외국인 투자기업의 사멸 연구를 위해 2013년부터 2017년까지 국내 시장 외국인 투자기업을 연구의 대상으로 선정했다. NICE 평가정보(주) 외국인 투자법인 자료를 표본으로 수집하고, 정제를 거쳐 분석에 사용했다. 종속변수인 외국인 투자기업 사멸에 대한 실증비교 검증은 기업 특성 지표인 외국인 투자 지분율과 근로자 수, 재무 유동성 지표는 자본, 자산, 부채, 매출, 수익성 지표로는 영업이익과 매출이익을 분석에 재무비율 지표로 ROA와 ROE를 사용했다. 이후 외국인 투자기업의 소유 지분을 100% 소유한 단독 투자기업과 합작회사, 기업분류에 따른 대기업과 중소기업의 사멸률을 실증했다. 외국인 투자기업 사멸률 영향요인 분석에서는 기업의 종업원 수, 부채, 영업이익과 매출이익 모두 기업의 경영위험도를 낮춰 지속 가능한 경영을 유지하는 효과가 있은 것으로 조사되었다. 그러나 지분 투자율, 자본, 자산, 매출 지표는 유의하지 않은 것으로 조사되었다. 외국인 투자기업 사멸률 실증 비교분석 결과에서도 100% 지분을 소유한 단독 투자기업과 대기업이 합작기업과 중소기업보다 상대적으로 사멸의 위험이 낮고, 지속 가능한 경영 가능성이 큰 것으로 분석되었다.

• 통상정보연구
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• 제8권3호
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• pp.193-206
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• 2006

The United States demands that the Korean Government include in the WTO GPA the privately invested projects of the BOT contract. Controversy surrounding BOT contract will continue. As of result of opening up of private investment market including BOT contracts, inflow of foreign capital will be expanded, and it will provide an opportunity for rectifying any unreasonable policies or regulations. With active penetration of foreign companies, there is a possibility for deepening of competition in the private investment market, and if a foreign administrative company is selected, possibility of assigning high value works such as design to foreign companies leaving labor intensive work such as construction to domestic companies exists, and also, difficulties resulting from agreement between the employer and the foreign administrative company exists. Large-scale construction companies must put forth their efficiency and creativity, and through revolutionary constructions by private sectors, reduction in construction cost should be made possible, and must also increase efficiency in maintenance, repair, and management of the facility. On the other hand, in order for Korean construction companies of BOT businesses to be able to enter the foreign BOT industry, the government needs to conduct studies in information and policies of various nations.

• 한국콘텐츠학회논문지
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• 제19권5호
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• pp.287-295
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• 2019

본 연구는 국내시장 외국인투자기업의 생존율과 영향요인 연구로서 2006년부터 2017년까지 NICE평가정보(주) Kis Value의 외국인투자법인 자료를 바탕으로 실증했다. 외국인투자지분, 수출 유무, 제조업 구분을 더미 변수로 변환한 요인과 근로자 수, R&D집중도 요인을 기업특성변수로 설정했다. 또한, 자본, 자산, 부채요인을 안정성변수로 매출이익, 당기순이익, 영업이익을 수익성변수로 구분해 기업의 재무적 특성변수로 설정했다. 영향요인 분석에는 콕스-비례 위험 모형을 생존율 비교에는 생명표 법을 사용했다. 분석 결과 외국인투자지분, 근로자 수, 매출이익, 당기순이익, 영업이익 요인이 기업생존에 정(+)의 영향요인으로 작용했다. 또한, 추가적 분석에서 자산요인은 정(+)의 영향 관계로 자본과 부채 요인은 부(-)의 영향 관계로 조사되었으며, 수출 유무, 제조업 구분과 R&D집중도는 유의수준을 벗어나는 영향 관계로 분석되었다. 기업특성변수 중 유의한 영향요인인 외국인투자지분의 더미 변수를 활용한 생존율 비교분석에서는 100% 외국인투자 지분기업이 외국인투자 합작기업과 비해 높은 생존율과 상대적으로 긴 생존 기간으로 조사되었으며, 기업의 사멸밀도도 낮은 것으로 분석되었다.

• 무역학회지
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• 제47권6호
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• pp.119-134
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• 2022

A new protectionism caused by the US-China competition and a following new Cold War would have a negative impact on global FDI. In this time, this study researched the effects of the long lasting global openness and liberalization on Korea's Inward FDI. 1,387 foreign invested companies in Korea were analyzed. The results are summarized as follows. First, Korea's FDI has been expanded under the environment of globalization. The IFDI amount and share in GDP increased. Seven countries out of the world top 10 were listed in Korea' the top 10. However, the share of the US and Japan's FDI in Korea's IFDI decreased. Second, non-manufacturing industry became prevalent in Korea's IFDI. Considering it's local market-oriented characteristics, the biggest investment motivation by global companies was Korean market pursuit. The US was more local market-oriented than Japan. Third, cross-border M&A, which became active in developed countries since 1980s, also kicked off in Korea from late 1990s. Global companies managed foreign-invested companies in Korea with shares close to wholly owned. The US had higher share ratios than Japan. The implications by this research are as follows. First, looming protectionism by a New Cold War would negatively affect Korea's IFDI through the adverse function of globalization. Second, Korea's IFDI has been converted to a market pursuit type being mainly leaded by non-manufacturing industry. Since GDP is the largest FDI motive in this type of FDI, the key policy for IFDI promotion is lying in the expansion of domestic market rather than deregulation.

• 한국중재학회지:중재연구
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• 제24권4호
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• pp.49-97
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• 2014

This study is about the availability of Chinese internal arbitration institutions by Korean invested companies. Generally, Chinese internal arbitration institutions lack independence from government. However, because parties seeking an arbitration award have ways to get neutrality from internal arbitration institutions that guarantee party autonomy, these Korean companies can use Chinese internal arbitration institutions to resolve disputes in China. Special attention should be given to the following. First, because Korean companies invested in China are legally in the same position as Chinese companies, unless foreign-related factors intervene, when disputes occur with Chinese companies or individuals, the disputes correspond to internal dispute, and when it comes to choosing the arbitration institution, these Korean companies must choose either a Chinese internal arbitration institution or foreign-related arbitration institution. Second, most Chinese internal arbitration institutions still lack independence from government, which can influence the fairness of arbitration in the future. Therefore, Korean companies invested in China should think about alternative ways to get a minimum impartiality in arbitration cases. Third, the parties are allowed to choose arbitration rules freely in Beijing, Xian, Chongqing, Guangzhou, and Hangzhou arbitration commissions. Therefore, in arbitration cases, the parties can get impartiality by choosing arbitrators according to the arbitration rules which they agree on, or by choosing partially modified arbitration rules of those arbitration commissions. Fourth, in order to get an impartial arbitration award from Chinese internal arbitration institutions in China, it is important for Korean lawyers or arbitration experts -- fluent in Chinese -- to be registered in the List of Arbitrators of Chinese internal arbitration institution by way of signing a MOU between the Korean Commercial Arbitration Board, or the Korean Association of Arbitration Studies and arbitration commissions such as those of Beijing, Xian, Chongqing, Guangzhou, and Hangzhou which comparatively do guarantee party autonomy. Fifth, because application of the preservation of property before application of arbitration is not approved in China, in practice, in order to preserve property before application of arbitration, it is best to file another suit in China based on other legal issue (e.g., tort) independent from the contract which an arbitration agreement is applied to. Sixth, in arbitration commissions which allow different agreement regarding arbitration procedures or arbitration rules, it is possible to choose a neutral arbitrator from a third country as a presiding arbitrator via UNCITRAL arbitration rules or ICC arbitration rules. Seventh, in the case of Chinese internal arbitral award, because the court reviews the substantive matters to decide the refusal of compulsory execution, the execution rate could be relatively lower than that of foreign-related cases. Therefore, when Korean companies invested in China use Chinese internal arbitration institution, they should endure low rate of execution. Eighth, considering the operational experiences of public policy on foreign-related arbitration awards so far, in cases of Chinese internal arbitration award, the possibility of cancellation of arbitral award or the possibility to refuse to execute the award due to public policy is thought to be higher than that of foreign arbitral awards. Ninth, even though a treaty on judicial assistance in civil and commercial matters has been signed between Korea and China, and it includes a provision on acknowledgement and enforcement of arbitral award, when trying to resolve disputes through Chinese internal arbitration institution, the treaty would not be a big help to resolve the disputes, because the disputes between Korean companies invested in China and the party in China are not subject to the treaty. Tenth, considering recent tendency of conciliation by the arbitral tribunal in China and the voluntary execution rate of the parties, the system of conciliation by the arbitral tribunal is expected to affect as a positive factor the Korean companies that use Chinese internal arbitration institution. Finally, when using online arbitration, arbitration fees can be reduced, and if the arbitration commissions guaranteeing party autonomy have online arbitration system, the possibility of getting impartial arbitration award through them is higher. Therefore, the use of online arbitration system is recommended.

• 통상정보연구
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• 제11권2호
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• pp.83-110
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• 2009

China's logistics industry is an growing one at a very higher rate, owing to the rapid expansion of the country's industrial base and the rise of domestic consumer markets. Essential to the development of china's economy, policy makers have paid constant attention to the logistics sector which is attracting growing volumes of both foreign and domestic investment. The inefficiencies are exacerbated by a number of factors such as transportation bottlenecks, regulatory constraints and local barriers to entry. Foreign and foreign-invested logistics companies have typically cornered the express delivery (for example DHL, FedEX), sea freight forwarding and specialized logistics services (for example Hanjin Shipping). The purpose of this paper is to contribute to the activation of Korean companies' entry into China's logistics market by studying the strategies and types for Korean companies enter into China's logistics Market.

• 무역상무연구
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• 제18권
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• pp.159-188
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• 2002

International joint ventures are usually formed and managed by domestic companies and foreign investors for the common objectives. They offer an opportunity for each partner to benefit significantly from the comparative advantages of the other. Local partners bring knowledge of the domestic market; familiarity with government bureaucracies and regulations; understanding of local labor markets; and existing manufacturing facilities. Foreign partners can offer advanced process and product technologies, management know-how, and access to export markets. In Korea, joint ventures have been encouraged to usher in foreign investors with foreign currency capital badly needed during the IMF financial crisis. In the meantime, Korean laws and regulations with respect to joint ventures have been largely overhauled to promote foreign direct investment (FDI) both inbound and outbound. They include four types of FDI, i.e., acquisition of foreign stocks, provision of long-term loans, participation in joint operations like resources development, and establishment of foreign offices. From the legal point of view, the formal joint venture agreement must be an offspring of a series of tough negotiations between domestic and foreign partners. They usually stress the long-term relationship with the good will and dedication to each other, and restrict the free transfer of stocks. Both partners are earnestly interested in the ownership and management of the joint venture. So they keep a close eye on the articles of incorporation, changes of business environment, conflict resolution methods, transparency of accounting and other financial matters. When a multinational corporation (MNC) is involved in the joint venture, conflicts over management strategies, marketing and other issues take place more often than not between the MNC and local partners. We have to pay attention to joint ventures, particularly, in China and North Korea. As witnessed in other transition economies, China is eagerly bringing in foreign direct investments for the development of nation's economy. China encourages foreign investors to establish ordinary joint ventures, contractual joint ventures, solely invested foreign capital companies and jointly operated development companies with local partners. In North Korea, however, joint ventures have a different meaning like contractual joint ventures in China, in which North Korean partners have an initiative in the management. Rather, jointly operated companies or simply processing-for-wage companies are recommended in view of the unpredictable legal infrastructure in North Korea.

• 통상정보연구
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• 제17권1호
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• pp.137-163
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• 2015

본 연구에서는 우리나라에 진출한 외국인투자기업의 투자지분율차이와 CEO국적별차이가 고용에 어떠한 차이를 미치는지 보기 위해서 실증분석을 하였다. 실증분석을 하기위해, 투자비중, CEO국적, 설립시기, 기업규모등을 독립변수로 사용하였다. 고용증가율(EMPG)을 종속변수로 하여 일원분산분석을 실시하고 회귀분석하였다. INVRATIO는 투자비중을 나타내는 변수로서 1-0%<투자비중<50%, 2-투자비중=50%, 3-50%<투자비중${\leq}100%$을 나타내는 변수이며 CEO국적은 1-한국, 2-공동, 3-외국인을 나타내는 변수이다. 실증분석 결과 투자비중=50%, 50%<투자비중${\leq}100%$에서 0%<투자비중<50%보다 고용을 더 낮게 하는 것으로 나타났다. 그리고 CEO국적에 따른 고용행태를 실증 분석한 결과 차이가 없는 것으로 나타났다. 본 연구의 시사점은 투자지분율형태와 CEO국적별에 따른 고용분석을 이론적 검토와 통계적 분석을 함으로써 대한(對韓) 외국인직접투자에서 고용에 미칠 수 있는 영향과 그에 대한 대처방안을 검토할 수 있다는 것이다. 또한 고용에 있어서 향후 투자지분율을 현재보다 더욱 중요하게 고려해야 할 요인이라는 점을 제공했다는 것이다.

• 무역학회지
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• 제44권1호
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• pp.115-127
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• 2019

In recent years, the Indian market has gained worldwide attention in the global trading business environment. Korean companies are also seeking to enter the indian market, and their foreign trade investment strategy is based on the Global Value Chain(GVC). In this study, we examine difference from traditional investment strategy to GVC investment strategy in the age of 4IR(fourth industrial revolution) through using POLS model(pooled least square), FEM(fixed effect model), and REM(randomized effect model). Based on the analysis of 84 monthly data related to the FDI and international trade effects between Korea and India, the following results were found. As Korean companies increased their share of export to the Indian market and export to the Indian market, the number of new companies directly invested in overseas market increased. However, the amount of import into the Indian market was relatively low in relation to the number of new companies directly in overseas markets. As a result of analyzing the investment strategy of the GVC in India, the GVC has shifted from manufacturing to process upgrading to enter the GVC on Smile Curve.