• East Asian Economic Review
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• v.20 no.3
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• pp.311-338
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• 2016

In the race for establishing trading architecture consistent with new landscape of the global economy, the US is ahead of the game by concluding the Trans Pacific Partnership Agreement with 11 countries. To make it reality, the ratification is essential. In the battle for ratification in the US, declining globalism confronts rising protectionism. This paper models the ratification process as contest between globalism and protectionism, and analyzes the optimal timing for ratification. Based on this framework, various ratification scenarios are analyzed. The paper argues less likelihood for the lame-duck session passage and more likelihood for prolonged and protracted delay, due to changing political dynamics and declining intellectual support for globalism. Hence, the future of Trans Pacific Partnership Agreement may prove different, compared to the North American Free Trade Agreement and the Korea-US Free Trade Agreement, both of which were renegotiated and ratified eventually. Then, the US would lose the first move advantage. The paper also discusses strategic implications of delayed ratification on the evolution of trading architecture in East Asia.

• Journal of Korea Port Economic Association
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• v.18 no.1
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• pp.135-157
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• 2002

The fact that Pyeongtaek Port is located ideally at the central point of the Yellow Sea's Economic Zone and it is very close to the metropolitan area of South Korea which occupies more than 50 percent of the total trade volume in terms of tonnage is providing a good prospect of development for the Port of Pyeongtaek. This study examines the perception of shippers in Kyonggi-do on the development of Pyeongtaek Port, giving some suggestions to the Pyeongtaek Port Authority. It begins with a description of the port such as current economic status, statistics on the economy, trade and investment regarding the Port of Pyeongtaek. According to a particular questionnaire survey conducted in December 2001, the major obstacles to the utilization of the port are as follows: a shortage of liner shipping routes, lack of container handling facilities including container terminal, crane etc., and port sales promotion activity. Therefore the port should make aggressive efforts to attract container cargoes to and from China by expanding port facilities, implementing effective marketing strategies, introducing a customs-free zone/free trade zone, and strengthening port sales etc.

• Journal of Korea Port Economic Association
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• v.32 no.3
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• pp.21-33
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• 2016

This paper examines the effect of strategic trade policy on port ownership structures (nationalization or privatization) when two firms compete with each other in reciprocal markets. Furthermore, we analyze firms profits, port charges, ports profits and social welfare when ports are privatized or nationalized under tariff regime and under free trade regime respectively. Thus, we find that (i) under tariff regime, port nationalization is a dominant strategy regardless of transport costs. (ii) the effect of high port charges brings higher port profits than the effect of high trade volume. (iii) irrespective of trade regime, when transport cost is relatively low, port nationalization increases social welfare, while two government prefer free trade agreement to tariff regime when transport cost is sufficiently high regardless of port ownership structures.

• Asia-Pacific Journal of Business
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• v.11 no.4
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• pp.303-315
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• 2020

Purpose - The purpose of this study is to analyze Korea's trade relations centered on the Pacific Alliance (PA), a major economic integration in Latin America, and identify its problems and suggest measures that can be taken by the government and corporations to reinforce economic cooperation. Design/methodology/approach - To improve the level of contribution of the study, an empirical analysis is necessary. However, due to limited data access, the study will approach the topic of trade relations between Korea and the PA with various statistics and literature. Findings - First, there is an urgent need for changes in import-export goods between Korea and the PA, as trade is focused on specific items. Second, although foreign direct investment from Korea to the PA is centered in manufacturing and mining industries, there should be different investment strategies by countries and industries. Third, it is necessary to reinforce commercial cooperation. Korea currently has Free Trade Agreements with Chile, Peru, and Columbia, but not with Mexico, the largest trading partner among the PA. Therefore, Korea must take active measures to sign an FTA with Mexico, which has been put on hold. Research implications or Originality - Latin America has the most thriving market when it comes to Free Trade Agreements worldwide. With the official establishment of the Pacific Alliance (PA) in 2012, the economic integration of Latin America faced entirely new circumstances. Reinforcing economic cooperation with the PA is extremely important for Korea in terms of entering and dominating the Latin American market. However, there is still a lack of research on the Pacific Alliance, and corporations that aim to enter the Latin American market face difficulties due to lack of information. By investigating the Pacific Alliance and its prospects and analyzing the trade relations with Korea, this study will provide strategic measures for corporations that wish to enter the Latin American market.

• Proceedings of the Korean Institute of Navigation and Port Research Conference
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• 2003.05a
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• pp.231-236
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• 2003

Currently, the adoption of FTZ(Free Trade Zone) has been recognized as one of the most important strategies for becoming hub port in the world. For this reason, various policies for successful implementation and adoption of FTZ have been presented, and a special law related this FTZ was actually built in 1999. In the mean time, a port logistics industry is deeply related to the successful implementation of FTZ. However, although many research about FTZ have been conducted, there have been little previous studies about port logistics firms and FTZ. Thus, the aim of this study is to investigate a market structure of firms related to Port Logistics effectively and to analyze the perception of these firms about FTZ in Busan.

• Proceedings of the KGS Conference
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• 2003.11a
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• pp.120-125
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• 2003

The manner in which the World Trade Organization (WTO) is altering the economic and political dimensions of geography is an important academic concern There are several reasons why the establishment of the no should be or interest to geographers. First, the WTO embodies the principle of comparative advantage and thereby global free trade. (omitted)

• Journal of Agricultural Extension & Community Development
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• v.25 no.2
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• pp.71-83
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• 2018

This study aims to analyze the competitiveness of agricultural products in Korea, China and Japan and the effect of increasing imports from Korea and China. and then we discussed how to cooperate in the agricultural trade field between the three countries. The results are summarized as follows. First, The intra-industry trade of agricultural products was the most active in Korea and China, followed by the intra-industry trade index between Korea and Japan. The intra-industry trade between China and Japan were the lowest. Second, The mutual complementarity of agricultural products trade between Korea, China and Japan is mostly high. Among them, Korea and Japan are the highest, while Japan and China have the lowest complementarity. Third, it was found that in tariff elimination, imports of rice and meat products increased the most, while the import growth rate of green tea, meat products and ginseng increased the most. Finally, the three countries in Korea, China, and Japan can consider the way to increase the trade of agricultural products in the region by internalizing the trade of complementary items while maintaining a constant level of production of mutually competitive products.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.9
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• pp.209-217
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• 2020

The purpose of this study is to investigate the development and determinants of China-ASEAN trade relations over the period of 2000-2018. Employing both the qualitative and quantitative approaches, the results show that the trade relations between China and the Association of South East Asian Nations (ASEAN) have remarkably developed and rapidly grown over times, with a significantly important concentration on the segments of high technological and medium technological products. We also find that China's economic scale is crucially impacting on the China-ASEAN trade relations under both the aggregate and sub-sector level. It is interesting to notice that there is no evidence to support accession to the World Trade Organization (WTO) and officially forming of ASEAN-China Free Trade Agreement (ACFTA) to enhance trade relation between both sides. The findings also quantitatively indicate that there is much significant potential for the expansion of mutual trade between China and some members of ASEAN such as Brunei, Laos and Malaysia, while less potential is predicted for other members of ASEAN. It is strongly suggested that China and ASEAN should find a new proactive approach and make more efforts in improving the mutual political trusts to enhance trading activities in the coming years.

• Journal of Distribution Science
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• v.13 no.7
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• pp.11-18
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• 2015

Purpose - This paper reviews the changes in the ship export and import structure between Korea and China. It utilizes the comparative advantage trade theory to analyze time-series statistical data from the market share index, revealed comparative advantage index (RCA), and trade specialization index(TSI). Research design, data, and methodology - Based on their economic phases, both Korea and China have similar country characteristics. The purpose of this research is to understand the two country's trade structures to fortify the Korea-Sino economic relationship including verifying what is working and what is not. Results - Based on the analysis, bilateral economic activity to achieve a plus trade stimulus environment should be realized in the long run. Both countries should establish guarantee-free trade negotiations and boundaries instead of various non-tariff barriers. Conclusion - Reviewing the research, a sound competitive relationship can be grown for mutual benefit including export market diversification in the near future. The review of the Korea-Sino ship industry is keenly important and investigative research about it is timely because it is a major industry in each country.

• Korea Trade Review
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• v.44 no.1
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• pp.17-30
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• 2019

This study is to investigate the effect of real exchange rate on bilateral trade balance between Korea and ASEAN 10 countries. Using quarterly data from 1991 to 2017 the paper analyzes whether or not the real depreciation of Korea's won could improve the trade balance in the short and long term. Based on Autoregressive Distributed Lag(ARDL) model, the empirical results show that trade balance, GDP, and real exchange rate are all cointegrated, representing the long-run relationship among variables. In the consideration of long-run relationship, the increases in ASEAN countries' GDP could have a negative impact and Korea's GDP positive impact on trade balance between Korea and ASEAN countries unexpectedly. For the main variable, the paper did not find the long-term effect of real exchange rate on the trade balance, for the short-term effect of the real exchange rate it was found that there exists the J-curve effect only in the case of Vietnam and Brunei. Therefore, these results imply that the intended policy concerning the exchange rate in the free-floating exchange rate system could be limited to improve the trade balance between Korea and ASEAN countries.