• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.60
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• pp.195-209
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• 2013

South Korea, despite the financial turbulences has marked the trade volume of USD 1 trillion and marked $7^{th}$ largest exporter in 2013. Approximately 40% of the entire import of Korea was for export. In the South Korean trade structure, import and export are closely related, requiring proactive import financial assistance policies. Recognizing this, K-sure has made import insurance policy available on the market since July 2010. The K-sure insurance policy targets both financial institutions and importers. This is the reason why this research seeks to review the import insurance terms for importers and compare with foreign import insurance products to find out ways to improve. K-sure's import insurance for importers is to cover a loss of a policyholder when the policyholder or importer domestically addressed made a prepayment but cannot receive goods. The import insurance is applied to import transactions of goods or resources. K-sure's import insurance coverage needs to be expanded to intermediary trade and consignment processing trade, etc. In this sense, a more systematic educational program should be introduced about K-sure's import insurance.

• East Asian Journal of Business Economics (EAJBE)
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• v.11 no.2
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• pp.39-57
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• 2023

Purpose - This paper is to examine the work of a third party in the process of import and export management. In other words, the purpose of this paper is investigate the status and functional role of a third party in relation to each terms of the trade contract. Research design, data, methodology - This study consists of 5 chapters through literature survey. It will examine the involvement of the third party through each terms. Chapter 1 introduction, Chapter 2 deals with trade contracts, Chapter 3 investigates the shipping terms, payment terms, and insurance terms, and Chapter 4 reviews with commercial arbitration. And in Chapter 5, it looks at the conclusion and implications. Results - The relevant party in the import and export management process may be a third party through outsourcing, not the principal. At this time, in fulfilling each condition of trade, it can be seen that the implementation of tasks through the participation of a third party with high expertise can more smoothly and productively implement the overall import and export management. Therefore, it can be seen that the implementation of the trade business in which the third party participated can be interpreted in terms of derivative effects and at the same time can be a way to improve the principal's competitiveness procedurally. Conclusions -Through this study, in the import and export management, the performance of the work through the agent makes the entire process more smooth and efficient. Outsourcing of roles using the expertise of a third party, a subcontractor rather than a principal, is desirable and important.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.49
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• pp.189-212
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• 2011

As the international business increases among the nations of the world recently, it is an inevitable fact that its claims rise as well. The most reasons of the international business claims have been concentrated upon the unpaid issues. The other reasons are sequently the different interpretation of business contract's conditions, the inferior quality of the goods, the breach of shipping time, the uncertain market-claims and some problems of transportation, the quantity and bad package of the goods. As business transactions grow more complex, it becomes increasingly important to resolve claims as quickly and efficiently as possible. Recognizing the importance of comprehensive policy support for overall international trade and investment of local company in recent years, Korean government has reborn the Korea Insurance Corporation ("K-sure"). K-sure adopted a range of measures to improve management efficiency to strengthen national competitiveness and national economy by promoting oversea trade and investment. Especially, K-sure will be able cover not only export transactions but also import transactions to secure oversea natural resources and commodities vital the national economy. K-sure should be able to continue and expand the existing export insurance programs, support import transactions and lead export-oriented industrialization of Korea as the best trade insurance agency.

• Korean Journal of Agricultural Science
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• v.43 no.3
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• pp.496-505
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• 2016

The purpose of this study was to investigate the economic effects of a flame retardant aluminum screen developed by a company Economic effects were analyzed in terms of micro and macro-economic aspects. In the macro-economic aspect, economic effects were analyzed under the assumptions that the total import volume of flame retardant aluminum screen was approximately $50m^2$ in 2015 and that possible import substitution rates were 100%, 80%, and 60%. Results showed economic values of 2.25 billion won (100% import substitution rates), 1.8 billion won (80% import substitution rates), and 1.35 billion won (60% import substitution rates). If existing farms which had been using imported flame retardant aluminum screen replaced it newly developed with the flame-retardant aluminum screen developed in this study at rates of 100%, 80%, and 60%, the farms could save 750 million won, 60 million won, and 45 million won, respectively. Furthermore, the social cost savings from fire prevention could be 1.184 billion won. In the micro-economic aspect, if a farm with a typical-size ($1,000m^2$) greenhouse growing red pepper wanted to install flame retardant aluminum screen instead of generic aluminum screen, the farm may only pay an additional cost of 720,000 won. In comparison, if the farm chose fire insurance instead of flame-retardant aluminum screen, then the farm would pay 21,000,000 won for fire insurance. The above results show that the economic effect of flame retardant aluminum screen developed by the company would be be very efficient compared to the imported one.

• International Commerce and Information Review
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• v.9 no.3
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• pp.205-229
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• 2007

This study analyzed relation with risk recognition degree by customs business of customs brokers and actuality insurance accident occurrence. These study finding that risk recognition by customs work area of customs brokers and actuality insurance accident occur did not agree. So customs brokers more elevate risk recognition of entry field, origin/trademark right, HS and customs tariff application, customs refund, price estimation that are high the insurance accident rate. and they may have to do emphasis administration through employee education and ability elevation. Specially, operation risk that is produced from charge employee's simplicity mistake who tax invoice omission, a tax use mistake, document nondelivery, notice dispatch delayed action, may have to manage through moral management and employee bylaws and education, employee guidance etc. Also, they publicize these contents to import and export enterprise, and practice risk management of high risk business in priority through education and public information. so we will have to make can do more effective risk management.

• International Commerce and Information Review
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• v.19 no.2
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• pp.213-236
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• 2017

World trade has entered a stagnant state, protection trade measures are spread due to delayed economic recovery in developed countries, sluggish investment in emerging economies such as China, economic recession in resource exporting countries, and geopolitical and political uncertainties along with the election period in the US and other major industrialized countries. Thus, in the economic structure of our country with a focus on export, for small and medium enterprises to grow, efforts for having various markets are necessary. The importance of the trade insurance system, which can support the risk management of enterprises, is emphasized by the fact that the majority of SME exporters have a risk management level and a lack of corporate capacity to enter the global market. This study was surveyed with 87 small and medium export companies in South Korea. The purpose of this study is to verify the effect relationship how service quality of trade insurance and utilization of trade insurance impact on the risk management of trade payment and export performance. The research hypothesis and model was derived from the basis of existing theory and empirical research, and obtained the following results. Firstly, Service Quality of Trade Insurance showed positive (+) effect on Export Performance. Secondly, Utilization of Trade Insurance showed positive (+) effect on Risk Management of Trade Payment. Thirdly, Risk Management of Trade Payment showed positive (+) effect on Export Performance. This study is differentiated from previous research information by empirically evaluating the relationship between the risk management of trade payment and export performance through utilization of trade insurance. This study contributed to academic by examining the research on the risk management of trade insurance and also practically suggested the direction how small and medium export company is to take the advantage of the trade insurance.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.40
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• pp.33-63
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• 2008

This study introduces the adoption of the logistics industry by the Korean government as a threshold of overcoming economic difficulties. The core contents of the National Logistics Plans (2001-2020) which contain the basic principles of the logistics policies of the Korean government and its aim to be an 'Excellent Nation of Logistics' is introduced. The economic effect of the logistics policies implemented between 2001 and 2005, (the period of the first Medium-term Logistics Plan according to the National Logistics Plans (2001-2020) set up by the Korean government at the end of 2000) is estimated through input-output analysis. The input-output analysis result is as follows: the total output effect is 8,856 billion won of which indirect output effect is 3,982.9 billion won; indirect output effect comes mainly from real estate and business services, non-metal products, metal products, electrical and electronics products, finance and insurance, wholesale and retail, petroleum and coal; the total amount of value-added effect is 3,376 billion won and total import effect is 726 billion won. Employment effect including self-employed and unpaid family supporters with paid laborers is 79,203.7 people of which paid laborers comprise 67,547.7 people.

• The Journal of Korea Institute of Information, Electronics, and Communication Technology
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• v.14 no.1
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• pp.70-77
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• 2021

This paper was reclassified industries related to the 4th industrial revolution into manufacturing, information and communication services, finance and insurance services, and science and technology services by comparing the industry association table with the Korean standard industry classification. And the economic ripple effect was analyzed by exogenizing the four sectors of the industry using a demand-driven model. The wholesale and retail and product brokerage services were measured to be large in the manufacturing, information communication services, and science technology service sector according as a result of analysis of the production inducement effect, added value inducement effect, and employment inducement effect. And the financial and insurance services were analyzed to be large in the financial and insurance services sector. The import inducement effect was analyzed to be the largest in all sectors of the fourth industry. As a result of the forward and backward linkage effect, it was confirmed that the manufacturing and the information communication services sector were the intermediate primary production type sensitive to economic fluctuations. Also it was confirmed that the financial and insurance services and the science technology services sector were the final primary production type.

• International Commerce and Information Review
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• v.14 no.3
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• pp.31-47
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• 2012

The Eurozone was launched to set a goal on using the single currency perfectly in 1999. Using the Euro could get rid of exchange cost and cost of Foreign exchange risk management which was approximately 1% of each member's GDP. It was possible that members has maintained a stable level of inflation and stimulate investment and employment with low interest rate. In addition, they could lead to economic growth and investment as well as increase the Euro demand in financial market. Especially, members has used the Euro as the method of payment on trade each other so that the volume of trade among the Eurozone members has increased continuously which was called "the effect of single market." This paper analyzes the correlation between using the Euro and members' export/import by using random effect estimation and fixed effect estimation. As a result, Eurozone members can get export decreasing effect of 4.68% and import increasing effect of 10.5% respectively on average by using the Euro.

• Journal of the Korea Society of Computer and Information
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• v.3 no.3
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• pp.139-150
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• 1998

Due to development of science and telecommunication with wide-spread computer supply, it could be done through computer automatically instead of manpower-work for paper transportation & paper approval. It is developed to so-called Factory Automation. Further, it is developed to Office Automation. Trading companies & concerned trade authorities are interested in Trade Automation that such technique is applied to trade work. Generally, Trade Automation means to realize paperless trade by exchanging electronic papers through inter-computers after concerned trade operators transformed various papers to electronic papers that computer could read. In case Trade Automation fix in the trade business, it is expected one of innovations among traditional paper work of trade business, namely without going import-export authorities, Customs office, Banks. Shipping companies, Marine insurance companies on hand-carrying papers, it could be fast, simple, correct to finish every trade procedures such as commercial business, foreign currency, customs clearance, transportations, insurance. terms of payment, etc., with Electronic Data Interchange through computer facilities. Especially, telecommunication for trade form could be helpful to proceed trade paper with one-run-method Further we can anticipate 6 effects for Trade Automation as belows : First, as explained just above articles, with completion for Trade Automation, every trade procedures can be done by computer. so, time to work can be diminished. namely. logistics cost including accessory costs for trade procedures can be saved much. Second, viewing to private enterprise, effect of Office Automation can be maximized and rapid, correct exchange for various trade informations could raise efficiency of enterprise management establishing rational production, storage, transportation and could raise competition improving standard for consumers's service. Third, establishing Trade Automation systems makes it easier piling-up of harbor cargo by pre-transmission of electronic paper & trade informations make it possible to finish customs clearance in advance and can be dispatched upon cargo arrival. Fourth, most of concerned trade authorities such as import-export approval office. financial authorities, transport & insurance companies concentrated in Metropolitan area(Seoul, In -Cheon, Kyung-Ki). Therefore, in case Trade Automation could be realized. it is possible to proceed trade business instantly in every country area by computer facilities. Also. it contribute well-balanced development for suburb. region area by suburb dispersion of trading companies. Fifth, on the way to Trade Automation establishment & its enlargement process. producing enormous demand for over-all telecommunication such as hardware. software. network makes opportunity to progress telecommunication industry & concerned industries. Finally. Trade Automation accelerate change of employment structure leading unnecessary labors on the industries of office & logistics to manufacturing area.