• The Journal of the Korea Contents Association
• /
• v.22 no.2
• /
• pp.514-528
• /
• 2022

This study attempted to understand the characteristics of foreign direct investment by Chinese companies from the perspective of Dunning's OLI paradigm. This development of OFDI by Chinese companies was influenced by the Chinese government's policy, internal factors of the Chinese economy, and the economic and institutional environment of the investment target country. The characteristic of Chinese companies' OFDI is that investment in developed countries is gradually increasing amid regional concentration in Asia. And the proportion of tertiary industries is high, In the meantime, the structure of the secondary industry is changing. In addition, Chinese companies are gradually expanding and showing characteristics by considering the economic and political factors of the investment target country in the selection of overseas investment areas, and then selecting areas with little cultural difference from China's system. This characteristic of OFDI by Chinese companies is basically evaluated to be in line with the OLI paradigm of Dunning. However, the difference is that Chinese companies' OFDI not only advances in overseas investment using the strengths of companies, but also advances in investment to compensate for their shortcomings.

• Korea Trade Review
• /
• v.46 no.3
• /
• pp.119-133
• /
• 2021

After 'Zhou Chuchu (走出去, Go global)' in the early 2000s, and with the 'One-to-One Road' initiative in 2012, China's Overseas Foreign Direct Investment (OFDI) has increased significantly, resulting in high academic interest. The purpose of this study is to analyze the impact of national risks of home country on China's OFDI by using data from 49 countries along the 'One-to-One Road' between 2007 and 2018, and to compare the factors of national risks that attract investment from the world. As a result of the study, market economy companies' perceptions of national risks are mostly negative, so risk acts as a deterrent to investment. On the other hand, national risks of home countries have had positive effects on China's OFDI, which would mean that Chinese investors, mostly state-owned enterprises have a high tendency to invest in regions or countries with high national risks. Other economic factors, such as the size of the investment partner country's market, GNI per capita, and trade openness, had a positive (+) effect, and natural resources had a negative (-) effect on China's OFDI. As dummy variables, FTA, which is an economic and diplomatic factor, SCO, which is a political and diplomatic factor, and bordering which is a geographical factor, were also found to have a positive (+) effect. This study implies the investment pattern of China's OFDI is due to the characteristics of China's unique geopolitical and economic system, and it is judged to be influenced by political and strategic factors, especially the aspects led by state-owned enterprises.

• Korea Trade Review
• /
• v.41 no.4
• /
• pp.245-267
• /
• 2016

The purpose of this study is to investigate the current situation of foreign direct investment of Korea based on GVC (Global Value Chain) perspective and to presentthe policy direction. From GVC perspective which comprehensively describes the world's increasing FDI and imports/exports phenomenon since the 2000s, the level of internationalization of Korea is excessively concentrated in trade. Therefore, the expansion of foreign investment (OFDI, IFDI) is urgently needed. The results of regression analysis using data from 50 countries and the international comparison of major countries including Germany, Switzerland, Singapore, etc, showed that the level of foreign direct investment of Korea is 20 to 30 years behind compared to those major countries. Therefore, exploiting the benefits of trade and foreign direct investment at the same time is needed to increase the level of GDP per capita.

• The Journal of the Korea Contents Association
• /
• v.22 no.9
• /
• pp.283-297
• /
• 2022

This study analyzed to strategy and structure of outward foreign direct investment(OFDI) by Chinese Enterprises in 'one belt, one load' countries along the line from the perspective of Dunning's OLI paradigm. Chinese enterprises' investment in 'one belt, one road' countries was largely promoted for two strategic purposes. One is an investment to secure energy resources due to the nature of resource holdings in 'one belt, one road' countries, and the other is a transfer investment to solve the problem of surplus facilities, a problem in China's domestic economy. Chinese enterprises' investments in these 'one belt, one road' countries is evaluated to have been made with Dunning's investment decision conditions in the OLI paradigm, namely, Ownership specific advantages, Location specific advantages, and Internalization specific advantages. only if there is a difference, investment country, investment method, and investment industry are different due to the structure of international relations, religious conflict and cultural heterogeneity, institutional investment environment of the region, and awareness of Chinese enterprises.

• East Asian Economic Review
• /
• v.26 no.2
• /
• pp.119-142
• /
• 2022

This paper uses social network theory and the internationalization process model (IPM) to determine how external network linkages influence the location choices of multinational enterprise from emerging economies (EMNEs); specifically, whether past alliance experience influences location choices and its impact on the subsequent entry of MNEs from emerging economies. This paper applies survival analysis using initial and secondary investments from 2,000 Chinese A-share listed companies that entered 90 countries between 1997 and 2018 to analyze both the initial and subsequent entries of Chinese outward foreign direct investments (OFDIs) in major host countries. The findings indicate that an MNE's previous experience with a company from a particular country will increase the likelihood of an initial investment in that country. Previous alliance experience may accelerate the foreign investment process of EMNE and stimulate firms making a commitment to a position in a foreign network, regardless of cultural distance and stage of internationalization. Alliance before initial investment may increase the likelihood and speed of entering a host country as wholly owned subsidiaries and that network linkages not only significantly influence the internationalization process of small and medium-sized enterprises, as indicated by the IPM, but also that of large listed firms.

• Korea Trade Review
• /
• v.46 no.2
• /
• pp.177-191
• /
• 2021

Based on the existing OFDI (outward foreign direct investment) literature, this study endeavored to verify how the corruption of host countries affects the partner strategy of EMNEs (emerging multinational enterprises) when EMNEs enter global markets through joint ventures. Following the existing literature, this study classified corruption and partner strategies into two categories, respectively. First, the corruption of host country was divided into grand corruption and petty corruption. Second, EMNEs' joint venture partner strategy was divided into home country partner joint venture and host country (i.e., local) partner joint venture. Our hypothesis suggested that the greater the host country's grand corruption, the more EMNEs would choose the host country partner, while the strong petty corruption leads to the preference of home country partner in host country. The hypotheses were verified with a sample of 890 foreign direct investment cases of Chinese multinational companies from 2005 to 2015. As a result of the study, regardless of the degree of corruption, it was found that they prefer joint ventures with home country partners when EMNEs enter the global market through joint ventures.

• Korean Journal of Optics and Photonics
• /
• v.25 no.2
• /
• pp.67-71
• /
• 2014

Intravascular optical coherence tomography (OCT) enables imaging of the three-dimensional (3D) microstructure of a blood vessel wall. While 3D vascular visualization provides detailed information of the vessel wall and intraluminal structures, a longitudinal imaging pitch that is several times bigger than the imaging resolution of the system has limited true high-resolution 3D imaging. In this paper we demonstrate high-speed intravascular OCT in vivo, acquiring images at a rate of 350 frames per second. A 47-mm-long rabbit aorta was imaged in 3.7 seconds, after a short flush with contrast agent. The longitudinal imaging pitch was 34 micrometers, comparable to the transverse imaging resolution of the system. Three-dimensional volume rendering showed greatly enhanced visualization of tissue microstructure and stent struts, relative to what is provided by conventional intravascular imaging speeds.