• Korea Trade Review
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• v.47 no.4
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• pp.177-195
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• 2022

This study analyzed the volatility spillover effect between international non-ferrous metal futures markets using the BEKK-GARCH model. Statistical data are futures price data of copper (CU), aluminum (AL), nickel (NI), tin (SN) from Shanghai Futures Exchange (SHFE) and London Metal Exchange (LME) from April 1, 2015 to December 31, 2021. Combining the research results, first, in the case of copper, aluminum, and nickel, it was found that there was a two-way volatility spillover effect between the Shanghai and London markets, and the international influence of the London market was greater. Second, in the case of the tin, it was found that the Shanghai market has a volatility spillover effect on the London market from stage I, and it is strengthened in stage II. Third, in the case of nickel, it was found that there was a two-way volatility spillover effect in the first stage, but in the second stage, the London market had a unidirectional volatility spillover effect with respect to the Shanghai market. This study confirmed that China's influence in the international non-ferrous metal futures market is gradually increasing. In addition, it suggested that international investors can engage in arbitrage and hedging using China's non-ferrous metal futures market.

• Journal of Korea Trade
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• v.26 no.5
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• pp.56-75
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• 2022

Purpose - This study examines the influencing factors of China's cross-border e-commerce exports in the context of the current situation and trends of China's cross-border e-commerce development. Through an improved trade gravity model, it provides more in-depth research and constructive opinions on the development of cross-border e-commerce in China. In this paper, factors such as consumption gap, volume of trade frictions, number of tourists, Internet usage and trade openness are added to the formula of the traditional trade gravity model in the improved trade gravity model to examine the influencing factors on China's cross-border e-commerce exports. Design/methodology - According to the empirical analysis, China's cross-border e-commerce exports to ten countries are used as dependent variables, and consumption gap, trade friction volume, trade distance, trade openness and number of Internet users are taken as independent variables. Regression analysis is conducted through a modified gravity model to test whether the hypotheses hold. Findings - The analysis shows that the hypothesis that China's cross-border e-commerce exports are influenced by trade openness, trade distance, consumption gap between trade parties, and the number of Internet users in the importing country is supported by these four hypotheses, but not all independent variables have an impact on them. Specifically, the number of travelers, trade frictions do not have an impact on China's cross-border e-commerce. That is to say, trade friction between China and the United States and political issues such as China-India and China-Japan territorial disputes that emerged before do not affect the development of cross-border e-commerce in China. Originality/value - The analysis shows that the factors influencing China's cross-border e-commerce exports are the trade openness of the importing country, the trade distance, the number of Internet users in the importing country, and the consumption gap between the two sides of the trade. The trade openness and the number of Internet users positively contribute to China's cross-border e-commerce, while the consumption gap and trade distance are negatively related to them. And the analysis found that the Sino-US trade war and the Sino-Indian territorial disputes and other trade frictions to China's cross-border e-commerce exports did not have a substantial impact.

• International Commerce and Information Review
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• v.8 no.4
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• pp.45-69
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• 2006

First, the trade competitiveness of the textile industries in South Korea has been weakening, whereas, the counterpart in China has been growing as the main export industries. Second, the trade competitiveness of the mechanics industries in South Korea has been increasing and appearing as the new promising strategic export industries. And, the counterpart in China also shows that it has been rising, while the country’s level of the imports specialization index has been weakening. Third, the trade competitiveness of the transportation industries in South Korea has been rising as the export-oriented and at the same time, privileged industries. And, China has also been rising as South Korea has been in the case, whereas, imports specialization index has been weakening. Fourth, the trade competitiveness of the electrical and electronic industries in South Korea has relatively been at the very high level, giving rise to the core export-privileged industries in the South Korea. And, China has been emerging as the new strategic export industries, as its industry structure has been shifted from the import- specialization and export-specialization industries. Fifth, it is indicated that the trade in the both South Korean and Chinese industries of fable materials, mechanics goods for computer & office, and goods for electric mechanics has been going favorable and brisk.

• Journal of the Korean Society of Food Culture
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• v.32 no.5
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• pp.403-411
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• 2017

When purchasing products or services, consumers tend to purchase multiple value attributes through the acquisition of a product rather than physical characteristics. This study empirically analyzed the relations between consumption value, brand attitude, and purchase intention of customers purchasing fair-trade coffee, by dividing consumption values that would have significant effects on consumers' actual purchase behavior into five levels. Among the consumption value factors of customers purchasing fair-trade coffee, the functional value, social value, emotional value, and rare value all had significant effects on brand attitude and purchase intention while the influence of situational value on brand attitude and purchase intention was not verified. These finding are partially concordant with those of preceding studies, and the consumption value of consumers purchasing fair-trade coffee has positive effects on purchase behavior; therefore, it would be necessary for companies selling fair-trade products to understand consumers' specific values. Moreover, analysis of the influence of brand attitude on purchase intention of customers purchasing fair-trade coffee revealed that purchase intention increased when brand attitude was higher. These finding indicate that it is necessary to identify measures to increase purchase intention by targeting consumer groups with high brand attitude with intensive promotions.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.10
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• pp.49-59
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• 2022

This paper examined the impact of real exchange rate volatility on trade balance in Malaysia by using quarterly data from year 2000 until 2019. Generalized Autoregressive Heteroscedasticity (GARCH) model was used to extract the volatility component of real exchange rate before examining its impact on trade balance. Furthermore, Autoregressive Distributed Lag (ARDL) model was used to investigate the long-run relationship and short-run dynamic between trade balance, money supply, national income and volatility of exchange rate. Empirical results show the existence of co-movement between variables under study in the long-run. However, the results also suggest that volatility of real exchange rate does not significantly affect trade balance neither in the long-run nor short-run. The risk which is associated in the movement of exchange rate do not influence trader's behaviour toward Malaysia exports and imports. Thus, it should be note that any depreciation or appreciation in Malaysian Ringgit do not have an impact towards trade balance either it is being further improved or deteriorates. Hence, exchange rate volatility may not be too concern for policymakers. This may be partially due to manage floating exchange rate regime that has been adopted by Malaysia eventually eliminated the element of risk in the currency market.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.3
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• pp.127-137
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• 2021

Mainland China area has been a long-term, major trade rival and partner of Taiwan, accounting for more than 40% of Taiwan's total annual trade exports, and so Sino-US trade friction is expected to have a significant impact on Taiwan's economy in the future. This study focuses on major bad news of Sino-US trade frictions and how it generates short-term shocks for Taiwan's equity market and fear sentiment. It further explores the mutual interpretation relationship between price changes such as VIX, Taiwan's stock market index, and the VIX ETF to identify which factors have information leadership as leading indicators. The study period covers 750 trading days from 2017/1/3 to 2020/1/31. This study finds that, when a policy news is announced, the stock market index falls significantly, the change in the trading price (net value) of the VIX ETF rises significantly, and the overprice rate significantly drops, but VIX does not, showing that fear sentiment exists in the Taiwan's market. The net value of the VIX ETF shows an information advantage as a leading indicator. This study suggests that, when the world's two largest economies clash over trade, the impact on Taiwan's equity market is inevitable, and that short-term fear effects will arise.

• Korea Trade Review
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• v.46 no.3
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• pp.99-117
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• 2021

Korea's FTA e-commerce regulations are evolving into a standardized norm. However, "location of computing facilities", which was not covered by Korea's existing FTA, was newly established in Korea's first Mega FTA, RCEP. China, a member of RCEP, restricts data movement and requires data localization through its Cybersecurity law. These facts have led to start this study with interest in data-related regulations. It examined country-specific and regulatory characteristics in the process of forming digital trade norms, using the TAPED established by Burri et al. (2020). It also analyzed the current status of introducing norms related to 'data flow', 'data localization' and 'data protection' of the EU, USA and China, which are leading the formation of e-commerce trade norms. Finally, the legal review was conducted to compare the exact meaning of the wording expressed in each agreement for the six recently enacted Mega FTAs and Digital Economic Agreements. These findings are meaningful in that they provided implications for the effectiveness of RCEP and the direction of negotiations on Korea's digital trade norms.

• Journal of Korea Trade
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• v.26 no.3
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• pp.79-101
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• 2022

Purpose - The purpose of this study is to analyze and compare the international competitiveness of digital service trade between Korea and China and to help enhance the competitive advantage of digital service trade between the two countries. Design/methodology - This paper designs and establishes a comprehensive evaluation system for the international competitiveness of the Korea-China digital service trade. By using the analytical methods of combining theory and demonstration through qualitative and quantitative analysis, this paper makes a concrete and complete theoretical deconstruction and empirical measurement of its international competitiveness from the two levels of overall competitiveness and departmental competitiveness. At the same time, the study also analyzes the competitive advantages and comparative disadvantages of the two countries. Findings - It is found that South Korea has a strong competitive advantage in the sector competitiveness of digital service trade, and the export structure is reasonable and balanced, but the deficit pattern affects the overall competitiveness. China has a strong competitive advantage in the overall competitiveness of the digital service trade. However, the structural imbalance in the export sector weakens the competitiveness of the sector. Both Korea and China have the space advantage and competitive potential to enhance international competitiveness in terms of development trends. Originality/value - This paper takes the lead in solving the pain point of the relative lack of similar research topics. It demonstrates the evolution process, development trends, and structural characteristics of the digital service trade. A new combination of competitive power research methods is innovated, and a comprehensive evaluation system is established. The above innovation points show the academic theoretical value and practical application value of this study.

• 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.

• International Commerce and Information Review
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• v.8 no.2
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• pp.59-78
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• 2006

Considering rapid development of Internet Portal Site Contents in Korea, it is an important issue to analyze consumers' satisfaction and e-loyalty. This research develops, and empirically test a model for explaining/predicting the satisfaction and e-loyalty with internet-based Electronic Trade Site. This paper describes a theoretical model for investigating the Satisfaction and e-Loyalty of the Electronic Trade Site. This study investigates the concept of the satisfaction, e-loyalty in Electronic Trade Site and its determinants, and tries to establish e-loyalty analyzing model. The model of the satisfaction, e-loyalty electronic trade site is tested here using data from 158 samples. Based on the research model, a comprehensive set of hypotheses is formulated and a methodology for testing them is outlined. some of the hypotheses are tested empirically to demonstrate the applicability of the theoretical model. In examining the relationships of the determinants factors, service quality satisfaction show in significantly by Reliability, Information Provided, Trustworthiness, Convenience, International of contents but that show in not significantly by Interaction. In addition, Electronic Trade site retention shows indirect effect between customer satisfaction and referral. Although our research can not show the determinants of e-loyalty in the electronic trade site the empirical result give both theoretical and managerial implication for managing the consumers' satisfaction and e-loyalty in electronic trade site.