• International Commerce and Information Review
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• v.6 no.1
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• pp.213-235
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• 2004

As national income of a country increases, people's needs for the services are also increasing. Recently, Korea has been confronted with deficit of service account in BOP, despite surplus of goods account. We can suppose that the reason why service deficit has been occurred continuously is mainly due to the system of Korean Foreign Trade Act which exclude the regulation of trade in services. That is, the Act could not regulate trade in services in Korea. So, Korea could not promote the export strategies for trade in services. This paper focuses on discovering the substitutional strategies for the revision of Foreign Trade Act in Korea. As a result, it was concluded that Foreign Trade Act in Korea should be reestablished fundamentally and also should include the articles related to trade in services and trade in goods simultaneously.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.63
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• pp.185-207
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• 2014

There are over 20 administrative rules related to Korea Foreign Trade Act including Export and Import Notification, Consolidated Notification, Notification for Strategic Materials and so on. The purpose of this research proposes to reform some administrative rules related to Korea Foreign Trade Act. First, the administrative rules are a little many and hidden in part, so the effort need for simplification and publication. Especially Export and Import Notification is no need more, and some articles can be transfer to the similar notification. Second, the prohibited or regulated items are only 135, and the reason is cooperation to world trade policy and Korea trade purpose. The item number of trade limitation are decreased sharply compare to several decades, but we still effort to decrease. Third, There are 2 tracks trade regulation both Korea Foreign Trade Act and 57 specific acts. The number of trade limitation item is over 5,000, so it is impossible to control by Consolidated Notification. The role of Consolidated Notification is the just guides for Export and Import, so trader has to use the specific trade-related law.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.29
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• pp.65-86
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• 2006

In general, goods can be defined as objects, devices or things, whereas services can be defined as deeds, efforts or performances. Ultimately, the primary difference between goods and services is the property of intangibility - lacking physical substance. Recently, service industries span a wide variety of enterprises, from hamburgers to high technology. And the rules-based multilateral trading system so successful in reducing barriers to international trade in goods is now being expanded in the area of international trade in services. Therefore, the Korean Ministry of Trade, Industries and Energies has revised the Korea Foreign Trade Act and its Enforcement Ordinance to focus on expanding trade in service sectors, including transportation, communications, tourism services, and business services.

• Journal of Arbitration Studies
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• v.30 no.2
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• pp.91-120
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• 2020

The Scope of Application of North Korea's Foreign Economic Arbitration Act and Foreign Investment Act This article examines whether the Foreign Economic Arbitration Act and the Foreign Investment Act of North Korea apply to South Korean parties or companies. This article analyzes laws and agreements related to economic cooperation between South Korea and North Korea. Furthermore, this article compares and evaluates laws related to foreign investment and enacted in North Korea. Now, North Korea's door is closed due to economic sanctions against it, but it will be opened soon. Thus, this article prepares for the future opening of North Korea's markets. Is there a rule of laws in North Korea or just a ruler? Are there laws in North Korea? North Korea has enacted a number of legislation to attract foreign investors, referring to those Chinese laws. For example, North Korea enacted the Foreigner Investment Act, the Foreigner Company Act, the Foreign Investment Bank Act, the Foreign Economic Arbitration Act, the Foreign Economic Contract Act, the International Trade Act, and the Free Economy and Trade Zone Act, among others. Article 2 (2) of the Foreign Investment Law of North Korea states, "Foreign investors are corporations and individuals from other countries investing in our country." It is interpreted that South Korea is not included in the "other countries" of this definition. According to many mutual agreements signed by South Korea and North Korea, the relationship between the two Koreas is a special relation inside the Korean ethnic group. An arbitration between a South Korean party and a North Korean party has the characteristics of both domestic arbitrations and international arbitrations. If the South Korea and North Korea Commercial Arbitration Commission or the Kaesong Industrial Complex Arbitration Commission is not established, the possibility of arbitration by the Chosun International Trade Arbitration Commission, established under North Korea's Foreign Economic Arbitration Act, should be examined. There have been no cases where the Foreign Economic Arbitration Act is applied to disputes between parties of South Korea and North Korea. It might be possible to apply the Foreign Economic Arbitration Act by recognizing the "foreign factor" of a dispute between the South Korean party and North Korean party. It is necessary to raise legislative clarifications by revising the North Korea's Foreign Economic Arbitration Act as to whether Korean parties or companies are included in the scope of this Act's application. Even if it is interpreted that South Korean parties or companies are not included in the scope of North Korea's Foreign Economic Arbitration Act, disputes between South Korean companies and North Korean companies can be resolved by foreign arbitration institutes such as CIETAC in China, HKIAC in Hong Kong, or SIAC in Singapore. Such arbitration awards could be enforced in North Korea pursuant to Article 64 of North Korea's Foreign Economic Arbitration Act. This is because the arbitration awards of foreign arbitration institutes are included in the scope of North Korea's Foreign Economic Arbitration Act. The matter is how to enforce the North Korean laws when a North Korean party or North Korean government does not abide by the laws or their contracts. It is essential for North Korea to join the New York Convention (Convention on the Recognition and Enforcement of Foreign Arbitral Awards) and the ICSID Convention (Convention on the Settlement of Investment Disputes Between States and Nationals of Other States).

• International Commerce and Information Review
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• v.7 no.3
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• pp.213-228
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• 2005

China is our second largest trade partner and the biggest country of our investment. For this reason, the Korea active strategy for coping with China's changes is very critical at the current point in time due to the economic structure of Korea dependent on exports. This essay is aimed at studying the Foreign Trade Administration System of China and selecting Korea's prospective exports-imports to China. The purpose of this, essay is to help Korean trading corporation to understand the difference between Korea and China in foreign trade administration in order to promote bilateral trade between Korea and China.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.41
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• pp.267-292
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• 2009

It is a right time to improve the Korea Foreign Trade Act(KFTA) as a fundamental law on Rules of Origin(RoO) in the global trade circumstances which are summarized FTA and WTO. The KFTA's RoO constitutes the labelling system of the Country of Origin, the criterion of it, the issuing of certificate of origin and the punishing offender mainly around the importing goods. This study has focused on the problems of KFTA's RoO at the macro and practical level, and proposed the programs to improve the KFTA's RoO about importing, exporting and domestic production goods. KFTA need to create a purpose clause to protect consumers and industries also, and has to be located a general and top position in the RoO of Korea. In the concrete, the labelling system of the Country of Origin has to set limited in the point of minimum necessity view. The criterion of the Country of Origin also has to improve the wholly obtained criterion, the changing in tariff classification criterion, value added criterion and processing operation criterion to harmonize WTO Rules of Origin and FTA Rules of Origin. The punishment ceiling against offender has to raise to guarantee the effectiveness of RoO.

• International Commerce and Information Review
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• v.11 no.2
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• pp.173-201
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• 2009

As a result of overemphasizing the goods sector in trade structure, Korea does not meet properly the global trend which has the key role of 'trade in services' as the service economy have been expanded. Hereafter, it is easily forecasted that trade in services will be one of the main factors for Korea's competitiveness and engine of growth. Nevertheless, because Korea does not equip the concreteness of governance for trade in services, it is possible that the efficiency deterioration of trade volume, confusion of Korea's trade policy, conflict among trading countries, and discordance between the interested parties may be occurred. This paper analyzes the governance system of Korea for trade in services in order to enhance the competitiveness reflecting the importance of trade in services and to draw some strategies for remodeling the service governance system. It is expected to raise the efficiency of Korea's trade policy by constructing the systematic governance for trade in services, and to remove lots of latent risks during global transactions by improving the imbalance between manufacturing and service part for the development of trade in services in Korea. Analysis revealed itself the result that Korea is weak enough to can not identify the governance system about trade in services. Except 'Extent of Services' article of the Foreign Trade Act, Korea has not prepared the governance system for trade in services so that governance system have been scattered overly or decentralized. Problems about trade in services are not limited to enterprise's side, but extended to all the players including government agency whole, academic world and research institute. Therefore, the governance of trade in services should be strengthened and systematized by making the model law for trade in services(provisional name : Master Law for Trade in Services or Promotion Law for Trade in Services) by formatting type of fundamental law or separate legislation. If the bill legislation does not meet the conditions, the Foreign Trade Act should be totally reformed to Omnibus Trade Act concept including trade in services.

• The Journal of Information Technology
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• v.4 no.2
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• pp.137-154
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• 2001

Years in preparation, the revised law on Foreign Trade Law of Korea came into effect on March 1, 2001, adopted at the Congress on June 17, 2000. The purpose of this Act is to contribute to the growth of the national economy by means of contriving to maintain the balance of international payments and to expand commerce, and through promoting foreign trade and establishing fair trade system. Particular, revised Foreign Trade Law of Korea shall be based on the general provisions on transactions of exports or imports and measures for promotion of electronic Trade. Because electronic trade is not bound by physical geography provides a fundamentally new way of conducting commercial transactions, therefore Korea importers and exporters need to be aware of the character and problems that may occure from what was above-mentioned revised Foreign Trade Law of Korea. In the thesis, i tried to explain and survey the character and evaluation of revised Foreign Trade Law in Korea with particular attention to revised frameworks for electronic commerce on focus legal and commercial problems.

• Journal of Arbitration Studies
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• v.17 no.3
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• pp.57-79
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• 2007

Laws regarding to Arbitration in North Korea are Arbitration Act, Foreign Economic Arbitration Act, Regulations on the Foreign Trade Arbitration Commission, Regulation for treatment of cases in Arbitration Commission, Rules of Hearing. North Korea has enacted the laws related to Arbitration including Arbitration Act enacted in 1995 and Foreign Economic Arbitration Act enacted in 1999. In the North Korea's planed economy system, as there will be many disputes among organizations, companies, other Institutions Arbitration Act resolves the disputes to compete the economic plan. North Korea's Arbitration Act is different from Normal Arbitration Acts in particular other socialist states in view of arbitration agreement and selection of arbitrator and functions as the tools controlling the members of North Korea and have the characteristics such as national arbitration system and mixture of criminal trial and governmental control and strict legal control system on violent acts in North Korea's plan and plan regulation. And North Korea's Arbitration Act deals with the civil disputes and limits the parties and subject matter of arbitration. The parties in dispute such as organizations, companies, other Institutions could apply for arbitration to Central Arbitration Body and Provincial (City under the direct control of Government) Arbitration Body and Sectional Arbitration Body. The purpose of this paper is to contribute to the enhancement of the understanding arbitration in North Korea by studying the clauses in the Arbitration Act.

• Korea Trade Review
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• v.44 no.5
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• pp.93-106
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• 2019

The purpose of the study is to investigate whether monetary and non-monetary incentives paid to exporters influence the level of compliance and tendency to behave opportunistically. As one of the most common ways to export one's products overseas is to establish relationships with foreign agents, numerous research has aimed to identify types of incentives to motivate foreign agents to bring the most efficient outcomes. Stemming from previous studies, this research hypothesizes that the type of incentives affects exporter's level of compliance, and tendency to act opportunistically which determine the level of exporter's satisfaction on foreign agency role performance. Data was collected from 196 Korean exporters, and the findings suggest that exporters should actively engage in providing non-monetary incentives to their agents to motivate importers to comply with exporter's rules. Conversely, agents tend to act more opportunistically when they receive monetary incentives only. These phenomena lead to the conclusions that the satisfaction level of foreign agency role performance is improved when non-monetary incentives are actively in place, and at the same time, foreign agent's level of compliance and opportunism play mediating roles.