• The Journal of Information Technology
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• v.7 no.4
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• pp.119-127
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• 2004

As increasing trade through the world, especially in food, asymmetry of information can make the trade shrink. With the industrial development, Korea's agriculture had shrunk dramatically. By the result of the nation's industrial restructuring, over than 3/4 of Korea food consumption comes from abroad. And China is an important source of agricultural product to Korea. Increasing family income and increasing importing food consumption, Korean consumers have been interested in food safety. Especially. after experiencing several cases like struggle for safety of GMO food, poultry influenza, lead contained Chinese fish import, mad cow disease, cheating origin, etc. Obviously, those unreliable cases will hinder the increase of world free trade as well as the trust of two countries. Furthermore, distrust will be a cause of adverse selection. So, it need to find a way to solve the distrust which caused by asymmetry of information. And automatic identification procedures can help mitigate asymmetry of information in trade. And it will make Korean consumers can avoid adverse selection. This paper suggests adoption of Auto ID to encourage agricultural trade between Korea and China.

• Journal of Korean Port Research
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• v.6 no.1
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• pp.3-36
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• 1992

In according to the rapid economic growth and strengthening of economic cooperation of Asian-Pacific countries, Pusan is capable of developing to the international trade center of Pan-Pacific Area. Therefore a lot of functional preparations are required for the international trade center. First the expansion and functional specialization of harbor which is a gateway of international physical distribution is required. Second, raising physical distribution inducement effect through establishment of free trade zone and producing financial and information service accompanied with trade activity through establishment of international financial center and teleport are necessary. And the research complex of high technology (sciencepark) which utilizes the industrial base of Pusan area is necessary for the development of Pusan toward the international trade city. And the establishment of marine sightseeing complex in Pusan utilizing the ocean natural resource is helpful for the growth of Pusan to the international trade center.

• Korea Trade Review
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• v.45 no.4
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• pp.171-194
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• 2020

Although there is a lot of literature on the effectiveness of regional trade agreements(RTAs), it is usually analyzed only using trade-related theories and data. However, this paper has a differentiation in that we examine the linkage between international trade and financial markets through the stock markets reactions when the trade agreements related news arrived. Specifically, using an event study, we look into the Korea-US free trade agreement(KORUS FTA) which is the most commercially significant FTA in almost two decades for both the countries. Korean stock market generally responded more sensitively to FTA news than the US stock market, especially in 'Auto & Parts', 'Electrical Equipment' and 'Chemicals' industries. And the investors' perception toward the effect of KORUS FTA on Korean industries changed from negative to positive as negotiations proceed. Korea has a comparative advantage in the production of labor-intensive goods relative to US, but the economies of scale hypothesis does not hold.

• Korea Trade Review
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• v.45 no.3
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• pp.71-89
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• 2020

This study was carried out to identify the impact of EU GDPR on international trade amid the ongoing digital trade liberalization. To do this, we first looked at the current trend of digital trade liberalization, the role of data in it, and the trade-restrictive elements of EU GDPR. This allowed us to identify the negative impact of GDPR on free trade. It then conducted an interview survey on Korean companies operating in the EU to verify the conclusions reached. The result of this survey showed that the level of GDPR risk perceived by Korean firms was very low compared with those of American, Japanese and Chinese firms. In particular, the impact of GDPR is not clear for Korea's SMEs. It can be assumed that the reason for this is that Korean SMEs are not using data as a major business tool while the capability of SMEs is sufficient to cope with GDPR. In this regard, the government's appropriate policies and further research for SMEs are needed.

• Monthly Duck's Village
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• s.55
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• pp.45-45
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• 2008

• International Commerce and Information Review
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• v.15 no.3
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• pp.25-39
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• 2013

This study is to analyze Gwangju's trade structures with China, Japan and the United Sates, and to contribute, through clarification of product competitiveness, to minimizing free-trade-induced costs as well as maximizing profits from free trade. To obtain this study purpose, two export competitiveness indicators are used; they are Trade Specialization Index (TSI) and Grubel & Lloyd(GL) Index. Intra-industry trade is examined to see if there exists a technological gap between nations. Intra-industry trade is divided into two; Low Quality Vertical Intra-Industry Trade (LQVIIT) and High Quality Vertical Intra-Industry Trade (HQVIIT). Gwangju's trade with China is HQVIIT; Gwangju exports high-quality and high-priced items to China, and imports low-quality and low-priced ones. On the other hand, Gwangu's trade with Japan is mainly LQVIIT; Gwangju exports low-quality and low-priced processed stuffs to Japan, and imports high-quality and high-priced ones from Japan. While Korea-US is mainly of both high-quality and low-quality Vertical Intra-Industry Trade; Gwangju exports low-quality and low-priced items as well as high-quality and high-priced items to the USA. Based on the analysis result, export marketing strategies are presented as follows: the transition to high value-added export system, the local entry networking, government support for trade exhibition, offer of special program on local small businesses.

• Journal of Arbitration Studies
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• v.17 no.1
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• pp.3-32
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• 2007

This age is called the age of global trade, and the World Trade Organization is a forerunner in promoting the global free trade through multilateral negotiations as the global level. On the other hand, regional economic cooperation such as North American Free Trade Agreement(NAFTA) is appearing, saying that promotion by WTO takes too much time. As is known to everybody, Europe is on the way of integrating member states through EU not to mention economic cooperation. Even in Asia such tendency is shown through ASEAN, Korea, China and Japan in Northeast Asia share geographical proximity, many common historical experiences, and similar cultural norms and values although they have disparities in stages of development, trade and economic policies, and financial and legal frameworks. Under the situation, efforts have been made between three countries of Korea, China and Japan for the conclusion of investment agreements including FTA. If the conclusion of the FTA between the three countries would be realized, it would promote regional trade and investment, contributing to economic growth in the Northeast Asian region. The writer in this paper reviewed the settlement of private commercial dispute including investment dispute arising from the FTA and investment agreements. The investment dispute is quite different from an ordinary commercial dispute arising from commercial transactions in view of disputing parties, applicable laws and rules, etc. Therefore it is a problem of vital importance that the parties interested in investment under the FTA as well as the relevant investment agreement should understand and cope with the settlement mechanism of investment disputes arising therefrom. The ICSID Convention provides facilities for the conciliation and arbitration of disputes between member countries and investors who qualify as nationals of other member countries. All contracting states of the ICSID Convention are required by the Convention to recognize and enforce the ICSID arbitral awards. The New York Convention(formally called "United Nations Convention on the Recognition and Enforcement of Foreign Arbitral Awards") is also applicable for the enforcement of arbitral awards to be rendered under the FTA. As to applicable rules, the UNCITRAL Arbitration Rules may be required for the settlement of investment disputes under the FTA. This Rules has adopted by the internationally recognized arbitral organizations although it was developed primarily for use in ad hoc arbitration. The promotion of arbitral cooperation may be realized through agreements between arbitral institutions. Especially under the NAPTA system, a central common system was established to resolve jointly private commercial disputes arising from such free trades by the initiative of arbitral organizations among the member countries. It is called Commercial Arbitration and Mediation Center for the Americas(CAMCA), which may be a good example for the settlement promotion of the private commercial disputes between Korea and other relevant countries.

• Journal of Korea Trade
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• v.23 no.5
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• pp.27-44
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• 2019

Purpose - The purpose of this paper is to analyze the net effect of the green total factor productivity (GTFP) of China's manufacturing industry from the China-Korea Free Trade Area (China-Korea FTA) quantitatively. Design/methodology - Firstly, the Global Malmquist-Luenberger (GML) index based on the SBM directional distance function is used to measure the GTFP of China's manufacturing and analyze the driving force for its growth. Secondly, the regression discontinuity quantitative analysis is used to determine the impact of the China-Korea FTA on China's manufacturing GTFP. Findings - Our main findings can be summarized as follows: the China-Korea FTA has promoted the GTFP of China's manufacturing with an effect evaluation mainly resulting from green technology progress. And there is industry heterogeneity in the policy effect on the manufacturing GTFP due to the China-Korea FTA. Namely, policy promotion from the China-Korea FTA is more effective on the GTFP of equipment manufacturing than it is on those of other industries. Originality/value - First, an evaluation and analysis of the GTFP development of China's manufacturing that employs GML index based on SBM directional distance function. Second, a quantitative estimate of China-Korea FTA's net effect on China's manufacturing industrial GTFP that uses regression discontinuity analysis, which is considered to be the closest method to natural experiments and superior to other causal inference methods. Third, an in-depth discussion of the practical steps that China's manufacturing can take to improve GTFP development and integrate China-Korea FTA construction into economic development.

• International Commerce and Information Review
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• v.7 no.2
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• pp.163-181
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• 2005

The purpose of this paper is to review the major issues of trade facilitation that have been discussing in relevant international organization such as WTO, WCO, UN/ECE, and UNCTAD In recent years the term, trade facilitation, has become extremely popular and, therefore, applied to an ever-growing number of activities. Trade Facilitation encompasses the simplification, standardization, harmonization and elimination of the procedures, data requirements and administration involved in an international trade transaction. The facilitation of trade procedures is seen by all major international business as vital for economic development. Several factors are fuelling the need for trade facilitation of which two are the globalization of international trade and the rapid IT-development. Another important factor includes increased economic integration by an explosion of regional and bilateral free-trade agreement that often feature complex customs requirements. Technological progress has also introduced faster and cheaper forms of transportation and transportation management techniques, such as the increased use of e-business and JIT. The Internet is also fragmenting containers of goods that could have been custom cleared on a single entry into dozens of individual shipments that each require separate customs documents and clearance procedures. This creates a challenge for express couriers who anticipate exponential growth in small shipments by individual consumers, as compared to shipment by wholesalers or retailers. These consumers expect goods to be cleared immediately. It is no wonder that express couriers are actively promoting, and participating in the trade facilitation agenda.

• Journal of Korea Trade
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• v.27 no.2
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• pp.47-60
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• 2023

Purpose - This paper assesses the trade potential and efficiency of Korea and China in the aquatic products trade. Trade efficiency and potential are the main factors that affect the growth of a country's trade. In this study, a time-varying stochastic frontier trade gravity model was constructed to analyze the trade potential and efficiency between Korea and China. By integrating the results of trade theory and empirical analysis, measures and suggestions were proposed to encourage the release of trade potential of fish exports between Korea and China. Design/methodology - In this paper, GDP per capita instead of economic size was chosen as an explanatory variable, and population size and relative distance were selected as explanatory variables to measure trade potential. For trade non-efficiency terms, regional organizations, political factors, and economic factors were mainly considered, and variables such as free trade agreements, political stability, regulatory quality, government efficiency, currency freedom, investment freedom, financial freedom, and trade freedom were selected. Panel data for South Korea and 14 aquatic products trading partners (including China) from 2002 to 2020 were used in the empirical analysis. Findings - In the past 19 years, South Korea's export trade potential of aquatic products to China has never been lower than 70%. It was above 90% from 2006 to 2018, and has been at a high level for a long time. This shows that China's aquatic product market has large potential for development. Originality/value - This study examines the effectiveness and potential of South Korea's exports of aquatic items to China in a methodical and comprehensive empirical manner. The evaluation of the export trade potential of South Korea's aquatic goods to China is more precise when the effects of regional organization, political, and economic variables are taken into account in the trade non-efficiency term of the stochastic frontier gravity model. At the same time, we propose to increase the scale of South Korea's aquatic products trade from the perspective of China's demand. This issue of trade studies is underexplored both empirically and in theory, although the issue has long been important to Korean and world trade.