• Korea Trade Review
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• v.42 no.2
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• pp.145-174
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• 2017

Recently, due to the worsening global economic recession, Korea which is a small, export-oriented economy has decreased exports and the domestic economy also continues to stagnate. Therefore, for continued growth of our economy through export growth, we need to analyze the validity of export support system such as export insurance and prepare ways to expand exports. This study is to investigate the effects of Export Insurance on the exports of SMEs as well as LEs. For this purpose, this study conducted Time Series Analysis using data such as export, export insurance acquisition, export price index, exchange rate, and coincident composite index(CCI). First, as a result of the Granger Causality Test, the exports of LEs has found to have a causal relationship with the CCI, and CCI is to have a causal relationship with the short-term export insurance record. Second, the results of VAR analysis show that the export insurance acquisition result and the export price index have a positive effect on the exports of LEs, while the short - term export insurance has a negative effect on the exports of LEs. Third, as a result of variance decomposition, the export of LEs has much more influenced for mid to long term by the short-term export insurance acquisition compared to SMEs. Fourth, short-term export insurance has a positive effect on exports of SMEs. In order to activate short-term export insurance against SMEs, it is necessary to expand support for SMEs by local governments. This study aims to suggest policy implications for establishing effective export insurance policy by analyzing the effects of export insurance on the export of SMEs as well as LEs. It is necessary to carry out a time series analysis on the export results according to the insurance acquisition results by industry to measure the export support effect of export insurance more precisely.

• Journal of Information Technology and Architecture
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• v.9 no.2
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• pp.199-207
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• 2012

This study analyzed how the subcontracting business relations and structures of cooperation affect the relationship skills (Outcome) that is divided into three steps. We analyzed integrated data every other year from 2005 to 2009. As a results, in the execution of technical cooperation trade relations have influenced the positive attributes, but recently their influence has been weakened. As for technical cooperation, the structure should alleviate the problem of the uneven performance of technical cooperation. We suggested that technical expertise and infrastructure make possible the culmination of the long-term technological competitiveness level.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.41 no.2
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• pp.32-46
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• 2018

Research in the Servitization of Manufacturing has become focused more on cases than concepts over the past decade. This is because governments have emphasized some practical research with policies to support their industries. Manufacturers need differentiated strategies to gain competitiveness by servitization in the global market. They should examine how common servitization has become in the same industries and markets. They should also make sure how it works and for what purpose it is done since it is necessary to make the best decision to be able to distribute the limited resources most effectively to defeat the global competitors. South Korea has the sixth largest trade volume in the world, but Korean SMEs' marketing capabilities fall short compared to that of major global companies. This paper seeks to develop the proper model and its application for the servitization with global cases which are recommended for Korean SMEs. They need to check the urgency in servitization according to their products, industries and target markets. In addition, factors such as purposes, time and types of the servitization are examined to see how they are related each other. The most significant implication of this study is that the processes for early-stage companies in servitazation are modeled to help them make the best choices.

• Korean small business review
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• v.41 no.2
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• pp.1-24
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• 2019

This paper seeks to explore the effects of search strategies on innovation performance in the context of small and medium enterprises. The empirical results of 3,398 Korean SMEs demonstrate that there is a substitutive relationship between search depth and search width, and this substitutive relationship is weakened when a firm possesses collaboration experience. Furthermore, although these two types of search enhance innovation performance, the impact of search depth is greater than that of search width. The positive effect of search width on innovation performance is weakened when the firm adopts formal information protection mechanisms.

• Journal of Digital Convergence
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• v.14 no.12
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• pp.55-63
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• 2016

Recently, FTA may go beyond the agreement of the two countries, and also FTA is tinged aspects of Mega FTA between the economic sphere, under the situation that FTA and the business model are mutually intertwined in convergence industrial environments. Since South Korea came into force in 52 countries and 15 cases of FTA, South Korea have completed FTA network with the United States, as well as ASEAN and most of OECD member countries, and South Korea is now a critical time to take advantage of the FTA to determine the South Korea's economic performance. This paper examined the previous studies of FTA utilization and analyzed practical usages and problems of SMEs' FTA utilization. Through analysis, this paper suggests that the Training Plans of SMEs' Origin Management Specialist for the Improvement of FTA Utilization is as follows: to build up the effective management system of origin supports, to enrich the origin management competency, to reinforce the operation of supporting system, and to strengthen practical capacity of Origin administrative staff. Based on the results, it is expected to provide the policy implications for the FTA utilization in the future.

• International Commerce and Information Review
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• v.18 no.3
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• pp.181-201
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• 2016

In this study, transaction cost approach was applied to analysis on direct export determinants of SMEs by using key attributes of transactions, asset specificity, environmental uncertainty, frequency and marketing capability, with a parameter of opportunism. Typical Transaction Cost Analysis theory explains that when transaction cost with business channels(whether it is for buy or sell) increase, the firms integrate the channels. So it is a choice made by firms regarding direct versus indirect channels. The theory was extended to a model of choice of institutional form of direct or indirect export by a norm of opportunism in this empirical study. The survey result showed that lower level of asset specificity and marketing capability or higher level of environmental uncertainty were likely to expose indirect exporters to higher level of opportunism of direct exporter. And we also saw that indirect exporters were likely to choose direct export chanel when opportunism of exporters was higher. From the standpoint of theory, we can say that the basic propositions of the Transaction Cost Analysis, except the attribute of frequency, are supported. This study result could provide a profiling of target business areas and firms for government's policy on direct export promotion of SMEs.

• Korea Trade Review
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• v.41 no.1
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• pp.67-90
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• 2016

This study examines whether there is any significant relation between executive compensation and future firm performance for the Korean export manufacturing small and medium-sized firms. We sorted the whole sample firms into the sub-groups of 10 deciles by firm size and the KSIC standard. We found the following empirical results. First, Korean export manufacturing small and medium-sized firms typically showed lower or even negative profitability in terms of return on equity and operating profit ratio to sales. Foreign equity ownership is very low with an average of 3.77%. Second, for the firms with higher ratio of excess executive compensation to asset had lower future firm performance. It implies that the typical owner-manager in Korean export manufacturing SMEs earns excess pay, but do not contribute much to firm performance. Third, as for future cumulative abnormal returns for future one- and three-year periods, firms with higher owner-executive pay had lower returns compared with firms with lower pay. So the stock market investors set a lower value on them. Fourth, there is a positive relation between excess executive pay and executive overconfidence, and it implies that owner-CEOs with higher pay may become overconfident, thereby lowering future firm performance somehow.

• Korea Trade Review
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• v.43 no.5
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• pp.203-232
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• 2018

Gobizkorea is an online B2B matching platform operated by the Small & Medium Business Corporation. Gobizkorea provides an opportunity for resource-poor SMEs to promote their products and exploit new market opportunities at low cost. The successful operation of Gobizkorea will contribute to the increased exports of Korean SMEs. Accordingly, the present study examined determinants of foreign buyer loyalty toward Gobizkorea.com focusing on country image, e-service quality, and satisfaction. One hundred two survey questionnaires were collected from U.S. buyers registered with Gobizkorea.com. Exploratory and confirmatory factor analysis confirmed three dimensions of e-service quality including information & efficiency, reliability & privacy, and prompt communication & delivery. The path analysis results showed that the country image of Korea significantly and positively affected these three dimensions of e-service quality. Information & efficiency and reliability & privacy positively influenced buyer satisfaction. Reliability & privacy and satisfaction had a positive impact on buyer loyalty. This study enhances the understanding of the foreign buyers use of the domestic e-market platform by examining of determinants of U.S. buyer loyalty toward Gobizkorea.

• International Area Studies Review
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• v.18 no.3
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• pp.89-110
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• 2014

This study build an integrated model of a relationship between the supply chain orientation(SCO), the performance of a supply chain management(SCM) and an export performance in a domestic manufacturing SMEs. Twelves hypotheses including the mediating effect of the structural SCO and the customer-focused performance of SCM were analyzed on the 212 SMEs. In the result of the analysis, the strategic SCO has a positive effect on the both of the SCO and the operational performance of the SCM. The structural SCO has a positive effect on the performance of the SCM. Also, the operational performance of the SCM has a positive effect on the export performance of SMEs. In the mediating effect, the structural SCO has a fully mediating effect between the strategic SCO and the customer-focused performance of SCM. In addition, it has a partial mediating effect on the relationship of the strategic SCO and the operational performance of the SCM. The operational performance of the SCM has a fully mediating effect between the structural SCO and the customer-focused performance of SCM.

• Korea Trade Review
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• v.43 no.2
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• pp.159-180
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• 2018

The purpose of this study is to contribute to the efficient selection of SMEs' trade settlement system through the empirical analysis of determinants of the payment method of SMEs in Korea. In the previous study, external factors, internal factors, settlement characteristics, transaction goods, transaction amount factors and risk management factors were used. Questionnaires were excluded from analysis, and the number of validated samples collected was 155. To conduct the study, all empirical analyses were verified at the significance level p <.005. Statistical analysis was performed using the SPSSWIN 18.0 program. Analysis results found the payment method used in the company was based on the year of establishment, export items, transaction area, type of transaction, and size of company. Empirical analysis showed that factors influencing the choice of the letter of credit are external factors, internal factors, the risk management factors, and the transaction amounts, etc. Results of this study are as follows: First, the effects of external factors, internal factors, settlement characteristics, and transaction amounts were significant. Hypothesis testing of collections trading methods has not been adopted in all areas presented. In order to utilize the research results, we conducted the study and comparison of the payment method of the income.