• KDI Journal of Economic Policy
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• v.35 no.4
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• pp.1-29
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• 2013

This paper examines the effect of trade liberalization or globalization, more broadly, on plants' growth as well as on "bi-polarization". To do so, we reviewed the possible theoretical mechanisms put forward by recent heterogeneous firm trade theories, and provided available micro-evidence from existing empirical studies on Korean manufacturing sector. Above all, the empirical evidence provided in this paper strongly suggests that globalization promoted growth of Korean manufacturing plants. Specifically, evidence suggests that exporting not only increases within-plant productivity but also promotes introduction of new products and dropping of old products. However, the empirical evidence also suggest that globalization has some downsides: widening productivity differences across plants and rising wage inequality between skilled and unskilled workers. Specifically, trade liberalization widens the initial productivity differences among plants through learning from export market participation as well as through interactions between exporting and R&D, both of which increase plants' productivity. We also show that there is only a small group of large and productive "superstar" plants engaged in both R&D and exporting activity, which can fully utilize the potential benefits from globalization. Finally, we also show evidence that trade liberalization interacts with innovation to increase the skilled-unskilled wage inequality.

• KIPS Transactions on Software and Data Engineering
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• v.11 no.10
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• pp.427-436
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• 2022

Korea Trade-Investment Promotion Agency (KOTRA) annually publishes the trade data in South Korea under the guidance of the Ministry of Trade, Industry and Energy in South Korea. The trade data usually contains Gross domestic product (GDP), a custom tariff, business score, and the price of export items in previous and this year, with regards to the trading items and the countries. However, it is challenging to figure out the meaningful insight so as to predict the future price on trading items every year due to the significantly large amount of data accumulated over the several years under the limited human/computing resources. Within this context, this paper proposes a multi layer perception that can predict the future price of potential trading items in the next year by training large amounts of past year's data with a low computational and human cost.

• Journal of Fisheries and Marine Sciences Education
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• v.26 no.6
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• pp.1278-1295
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• 2014

The Sixteenth Meeting of the Conferences of Parties of the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES), which was held in March 2013 in Bangkok, Thailand, listed five shark species and one genus, and uplisted one sawfish species. All new species listings will be come into force of the eighteen months delay, on the fourteenth of September, 2014. The purpose of the delay is to support the preparation of the domestic measures on shark trade by the parties, as there has been no previous experience in trading the commercially exploited aquatic species in the CITES. The CITES Secretary-General has visited several potential shark trade countries to encourage and facilitate the implementation of the new CITES listings. The newly listed sharks have been caught as a target or non-target species by Korean distant water fisheries and introduced into Korea. So the establishment or change of the domestic laws, regulations, and measures for the implementation of the new CITES species must be prepared before the effective entry date. This paper is prepared to assess the effects of the trade of the CITES listed shark species, and to suggest effective government service measures for the management of Korean distant water fisheries. The Ministry of Environment (MOE) is the general Management Authority of the CITES, and the Ministry of Food and Drug Safety (MFDS) is in charge of the medical trade of CITES listed species in Korea. By law, all imported medicines and medical materials must be inspected by the MFDS during the customs examination; this kind of authority sharing is reasonable and effective way of providing government service. Similarly, the designation of new CITES Management Authority for the trade of commercially exploited aquatic CITES species is critical and the Ministry of Oceans and Fisheries (MOF), which is now in charge of the trade of fisheries products, is the most appropriate governing body for this purpose in Korea. The revision of the National Plan of Action for Conservation and Management of Sharks, initially submitted to the Food and Agriculture Organization (FAO) of the United Nations in 2011 as a practical guideline for shark conservation in all Korean fisheries, could be a effective measure to achieve unification of conservation of endangered species and sustainable use of fisheries stocks. The proper CITES measures for the trade of listed species, such as the establishment of the documenting system for Non-detriment Findings, domestic measures suitable for the "Introduction from the Sea" clause, species specific Harmonized System Codes for the customs service, and an effective shark catch data reporting system should be in place prior to the fourteenth of September 2014.

• Korea Trade Review
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• v.43 no.1
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• pp.131-152
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• 2018

This study evaluates the potential by Chines region for entry of Korean logistics companies and retailers. The variables affecting e-commerce business and retail sales concerning the Chinese omni-channel market were extracted from a thorough literature review. Empirical analyses for variables based on 31 regions in China were performed. Results show that e-commerce is affected by disposable income and internet traffic and that retail sales are affected by urban and rural population, GRDP and urbanization. In addition, we performed variance decomposition analysis in order to estimate responses of logistics GDP(transport, storage and communication) and the number of Chinese mobile users. Exogenous shocks to logistics GDP and the number of mobile phone users play a strong role in explaining the forecast error of express service variance over time. Based on our results, we suggest 7 potential regions(Guangdong, Jiangsu, Zhejiang, Beijing, Shanghai, Liaoning and Shandong) as well as managerial implications for entry into China for logistics companies and retailers.

• Journal of the Economic Geographical Society of Korea
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• v.22 no.4
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• pp.488-512
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• 2019

This study examines the 'Asia Decoupling' hypothesis, focusing on changes in trade patterns between regions and countries, based on the latest value added trade statistics. As an analytical tool, indicators that can directly measure the degree of distribution of actual value added were used. Main findings are: Firstly, creating potential at regional level which used to be the growth engine of East Asia until the mid-2000s declined sharply after the global financial crisis. Secondly, in the development pattern of the value added distribution network, no positive change has been detected in the give-out or gain capacity of emerging countries that can generate future growth in East Asia through GVC development. Lastly, China's value added contributing capacity, as different from the hub countries in other regions such as US and Germany, has declined significantly since the mid 2000s, while its capability to benefit greatly increased, and the gain potential of advanced group countries in competition with China is decreasing. We suggest the establishment of intra-regional economic cooperation mechanism including all countries in East Asia for expanding the value creating capacity in the region.

• Journal of Information Technology Services
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• v.20 no.3
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• pp.87-101
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• 2021

Since the introduction of block chain technology, its potential use in financial service area have been increasing, and financial firms are seeking ways to take advantage of the benefits of it. The purpose of this study is to present an approach to prioritize block chain-based services for bank. Toward this, we picked out potential financial services through focus group interview and derived the criteria that can be used in evaluating the priorities of block chain-based banking services in the same way. Then, we propose an analytic hierarchy process model to help decision makers prioritize the banking services while considering multiple criteria of technology issues, governmental regulations in the financial industry, cost, managerial issues, customers' needs, and the business opportunity for the bank. By using the analytic hierarchy process model, we can estimate the weighting coefficients to be assigned to each criteria and determine the order of priority in determining the best block chain-based service for the case study bank. The results show that banking login authentication would be forefront service, followed by money transfer, document notarization, and trade financing service in the order, and the trade financing could be most important service in terms of the business profitability for the bank in the future.

• Food Science of Animal Resources
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• v.37 no.3
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• pp.329-341
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• 2017

Livestock is considered central component in agricultural sector of Pakistan, provides employment to more than 8 million families. Meat and meat products holds pivotal significance in meeting dietary requirements serving as major protein source and provide essential vitamins and minerals. Globally, consumer demand is increasing for healthy, hygienic and safe meat and meat products due to growing population, income level and food choices. As, food choices are mainly influenced by region, religion and economic level. However, religion is one of the major factor to influence the food choices. In this context, halal foods a growing trend, trade estimated to cross USD $ 3 trillion and among this, meat sector contribute about US$ 600 billion. Halal meat and allied products is requirement from Muslims but it is also accepted by non-Muslims due to safe and hygienic nature, nutritious value and superior quality. Pakistan meat industry is vibrant and has seen rigorous developments during last decade as government also showed interest to boost livestock production and processing facilities to meet increasing local and global demand. The industry has potential to grow owing to its natural animal rearing capability, muslim majority country (96% of total population), improvisation of market and consumer preference towards halal meat. Current review debates Pakistan meat industry scenario, production trend, global trade as well as future potential with respect to modernization, processing, distribution and trade. The data presented here is useful for meat producers, processors and people involved in export of Pakistani meat and meat based products.

• Journal of Navigation and Port Research
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• v.44 no.2
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• pp.128-135
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• 2020

Long-term shipping contracts represent the cooperative and coexisting relationships between the shipping and steel industries. Yet, differences between the contract forms for iron ore and steel products have emerged. Specifically, the large proportion of consecutive voyage charters (CVC) is being applied in the iron ore trade, whereas the contract of affreightment (COA) is proportionally higher for shipping steel products. The literature review and in-depth interviews in this study identified through the research model, the characteristics of the shipping and market structure in both markets have significantly contributed to the preference of different long-term contracts. It has been determined that the mutual oligopoly market structure and the characteristics of shipping such as, the small number of suitable vessels in the market, the single fixed load/discharge ports, the long-distance voyages, and the potential risks for fatal accidents because of cargo liquefaction, for the iron ore trade, provide higher contribution to the preference of CVC contracts. In contrast, the consignor oligopoly market structure and the shipping characteristics, such as the greater number of suitable vessels available in the market, the variation in ports, the cargo quantity per shipment, the various load/discharge ports, and the need for experienced carriers for steel product loading in the steel product trade has shown higher preference on the COA contracts as the consignors with superiority over the shipowners, resulting in favorable contract types and conditions for the consignors.

• Journal of Korea Trade
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• v.23 no.6
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• pp.131-144
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• 2019

Purpose - The purpose of this study was to investigate market power of soybeans exported by the United States to Korea. Particularly, this paper considered dichotomous characteristics of genetically modified (GM) soybeans and non-GM soybeans and conducted empirical analysis of these two segregated soybean markets to understand key tenets of market power in international soybean trade. Design/methodology - The difference in market power between GM and non-GM soybeans was analyzed using Residual Demand Elasticity (RDE) and Residual Supply Elasticity (RSE) models over the period of 2008~2018. RDE and RSE models under an imperfect competition condition were used to estimate market margins and determine whether GM and non-GM exporters or importers exercised market power in the destination market. Findings - Empirical results suggested that the U.S. had a market power on both GM and non-GM soybean exports. GM exports had greater market power than non-GM exports (14% vs. 9%). By contrast, Korea showed an inability to grab market margin or exert market power in soybean imports. Both export supply by the U.S. and import demand by Korea were found to be more responsive to price changes of GM soybeans than to prices changes of non-GM soybeans. This might be due to a self-interested, profit-seeking strategy by the exporter and many concerned consumers regarding potential adverse effects of GMOs in the importing country. Originality/value - This paper fills the literature gap by exploiting market power in both GM and non-GM markets with explicit consideration of price correlations between GM and non-GM soybeans in Korea. A number of existing studies have provided evidence for market power broadly embedded in international commodity trade. However, studies focusing on Korean markets are limited. No study has explored the country's soybean trade. Furthermore, the majority of prior studies have almost exclusively focused on the market power from a standpoint of exporting countries without discussing importers' market structure. This paper also sought to understand potentially distinguished patterns of market power between GM and non-GM markets.

• Journal of Korea Trade
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• v.27 no.1
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• pp.42-59
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• 2023

Purpose - As a leading source of foreign exchange and investment, tourism has grown in importance as a component of international trade. Accordingly, in recent decades much attention has been directed toward attracting foreign tourists and, in turn, positively affecting the recommendation intentions of foreign tourists. Despite such interests, there remains a dearth of empirical research on this issue. Moreover, prior research has focused primarily on the simple main effect of a certain factor on recommendation intentions. Therefore, the present study aims to (1) investigate the effect of overall satisfaction on the recommendation intentions of foreign tourists, and (2) examine the potential moderating effects of personal factors (i.e., age and destination image) on the association between overall satisfaction and recommendation intention. Design/methodology - Using a moderated moderation analysis of the data drawn from the 2018 International Visitor Survey conducted by the Korea Tourism Organization, this study proposes the three-way interaction effects of overall satisfaction, age, and destination image on recommendation intention. Findings - The findings of the study indicate that overall satisfaction is positively associated with recommendation intention and this relationship becomes stronger among younger tourists. The findings further indicate that the moderating effect of age on the relationship between overall satisfaction and recommendation intention depends on changes in the image of the destination. Specifically, the destination image exerts a positive moderating impact on the influence of age that moderates the overall satisfaction and recommendation intention relationship. Originality/value - Considering that the tourism economy has been severely affected by the current COVID-19 pandemic, this study contributes to a more accurate understanding of the factors affecting the recommendation intention, especially in times of crisis.