• Journal of Korea Trade
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• 제24권1호
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• pp.35-58
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• 2020

Purpose - This study examines the determinants of foreign direct investment (FDI) location choice for Chinese firms, focusing on the agglomeration effect for firms of the same nationality. Design/methodology - The empirical data are China's inward FDI from the top 19 economies (excluding tax havens and Taiwan) in terms of FDI during 1997-2015 and China's outward FDI from the top 18 economies (excluding tax havens). This study uses a random effects generalized least squares model for panel data analysis. Findings - The results confirm that both host countries' costs and market conditions and the degree of agglomeration affect these countries' attractiveness for FDI inflows. Specifically, agglomeration has a significant effect on China's inward and outward FDI. This study confirms that the agglomeration of firms of the same nationality has predictive power for multinational enterprises' FDI location choices. The host countries' real GDP and trade openness also positively affect FDI inflows. Interestingly, however, China's production cost has a positive effect. Thus, inward FDI aimed at entering the Chinese market is increasing in recent years relative to the previous efficiency-seeking FDI. Inward FDI in China is therefore the market-entry type, whereas outward FDI by Chinese firms is the market-oriented type. Originality/value - These results suggest that the effects of the potential determinants of Chinese outward FDI are similar to those of inward FDI as China's trade liberalization progresses.

• 통상정보연구
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• 제8권2호
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• pp.249-274
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• 2006

This study extensively investigated Japan's FTA strategy and plan of FTA policy and analyzed the economic effect caused by it. In the analysis of economic effect using world economical model shows not only positive economic effect in home country but also to the foreign country. Recently, Japan's bilateral relation with Korea and China is getting worse, not in a friendly way. Consequently Japan's future FTA negotiation will be expected to be focused on the East-Asia region. In other words, Japan expressed assistance for the purpose of communication, stability and prosperity in the East-Asia and will seek individual economic cooperation with each East-Asia country trying to reinforce the stand of Japan. This means that Japan is trying to improve the relation with Korea and China in the other way because it cannot change the relation with Korea and China on its own. That is to say, It can be interpreted as Japan is trying to reinforce the economic cooperation with other East-Asia countries for the realization of East Asia community rather than directly negotiating with Korea or China.

• 산업노동연구
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• 제23권1호
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• pp.197-220
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• 2017

본 논문은 비선형 해저드 모형을 이용해 산업별 수입침투율 상승이 개별 노동자의 일자리 중단 확률에 미친 영향을 실증적으로 분석한다. 주요 결과는 다음과 같다. 첫째, 수입침투율 상승은 일자리 안정성에 상당히 크고 통계적으로 유의한 부정적 영향을 미친다. 산업 총공급 대비 수입 비중이 1%p 증가하면 해당 산업에서 일하는 노동자들의 이직 확률은 4.5%p 증가한다. 둘째, 무역자유화의 효과는 수입과 수출 간에 비대칭적이다. 수입침투율의 경우와 달리 수출의존도가 일자리 안정성에 미치는 영향은 통계적으로 유의하지 않다. 셋째, 수입침투율이 일자리 안정성에 미치는 부정적 효과의 크기는 노동자 특성에 따라 다르다. 중소기업과 무노조 기업에 속한 노동자와 저학력 노동자가 더 큰 부정적 영향을 받는다.

• 무역학회지
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• 제47권6호
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• pp.119-134
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• 2022

A new protectionism caused by the US-China competition and a following new Cold War would have a negative impact on global FDI. In this time, this study researched the effects of the long lasting global openness and liberalization on Korea's Inward FDI. 1,387 foreign invested companies in Korea were analyzed. The results are summarized as follows. First, Korea's FDI has been expanded under the environment of globalization. The IFDI amount and share in GDP increased. Seven countries out of the world top 10 were listed in Korea' the top 10. However, the share of the US and Japan's FDI in Korea's IFDI decreased. Second, non-manufacturing industry became prevalent in Korea's IFDI. Considering it's local market-oriented characteristics, the biggest investment motivation by global companies was Korean market pursuit. The US was more local market-oriented than Japan. Third, cross-border M&A, which became active in developed countries since 1980s, also kicked off in Korea from late 1990s. Global companies managed foreign-invested companies in Korea with shares close to wholly owned. The US had higher share ratios than Japan. The implications by this research are as follows. First, looming protectionism by a New Cold War would negatively affect Korea's IFDI through the adverse function of globalization. Second, Korea's IFDI has been converted to a market pursuit type being mainly leaded by non-manufacturing industry. Since GDP is the largest FDI motive in this type of FDI, the key policy for IFDI promotion is lying in the expansion of domestic market rather than deregulation.

• 한국항공운항학회지
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• 제15권2호
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• pp.32-39
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• 2007

Air Transportation industry becomes more competitive that the restriction on new access to market were eased and relaxed. Liberalization of international air transport will continue, via bilateral and multilateral process. Korea, Japan, and China have expanded enormously the economic trade and cultural exchange bilaterally in the Northeast Asia, they are acknowledging the importance and necessity of improved connection, it order to face effectively other regional blocks of US-Canada, NAFTA, ASEAN, CLMV. In particular, nobody denies that it is urgent to liberalize bilaterally the air transport in Northeast Asia for promoting reciprocal benefits and prosperity. Recently while open skies bilateral agreements was signed between Korea-China in June, 2006. The agreements processes are too heavily influenced by flag carriers; leading to capacity/market sharing between the bilateral carriers in most markets, against the interest of consumers and overall economic interest of the nation. For successful operation of Northeast Air Market, it is need to set up development strategy paradigm by creating cross-border sub-regional (Northeast Asian) open skies bloc as well as preparing and creating of LCCs operations.

• 한류연구
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• 제2권2호
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• pp.19-26
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• 2023

This study analyzes the historical events that shaped South Korean Foreign Direct Investment (FDI) and its value to businesspeople. Chapter 2 reviews South Korean FDI literature, highlighting critical studies and a research gap. Chapter 3 strategically separates findings into four major historical events. Every event-from economic liberalization to technical advances-is studied. Chapter 5 offers valuable insights and guidance on how these events affect practitioners. The following chapters aim to promote FDI dynamics understanding and enable businesses and governments to make strategic decisions in South Korea's dynamic economy. Foreign Direct Investment (FDI) history in Korea is significant for practitioners. These events have impacted the nation's economy from the 1960s economic liberalization to modern technology advances. Practitioners must understand these events' far-reaching implications to make informed decisions. The opening up of the economy, chaebols' involvement, financial crises, and high-tech industry emphasis provide excellent lessons. This understanding helps practitioners navigate the global economy, adapt, and be resilient for sustainable economic growth in the Republic of Korea. Thus, practitioners should actively advocate for FDI and economic growth policies with government agencies. Collaboration ensures that the government's strategic vision matches industry practitioners' requirements and goals. By working together, practitioners help create policies that make Korea more appealing to international investors.

• 무역상무연구
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• 제52권
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• pp.25-44
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• 2011

Possibility of credit risk, foreign exchange risk and interest rate risk of exporter increases in the recent international Commercial transactions, due to financial crisis of Europe and liberalization of Middle East. Under this circumstance, Forfaiting is trade finance that forfaiter purchase negotiable debt instrument without recourse from exporter, which occurred related with international commercial transactions, and credit risk, contingency risk, foreign exchange risk and interest rate risk of exporter can be transferred to forfaiter. Forfaiting is typically medium-term finance(three to five years) concluded at fixed interest rate, although it can also arranged on a floating interest-bearing basis for periods from six months to ten years or more. But Forfaiting service of Korea has limitation as follows. First, forfaiting in Korea deals with unrestricted irrevocable documentary credit as debt instruments. Period that forfaiting is provided is short and amount of money is limited, compared with advanced forfaiting. But forfaiting provided in advanced countries deals with various methods such as guarantee for bill, payment guarantee, and can be resold in financial market. Recently importance of forfaiting is increasing in international commercial transactions. Therefore profound study on forfaiting is required. The study will examine the risk that happens to the concerned parties in forfaiting, and its management measures. The study adopted literature review method such as local and foreign books and papers about trade finance, internet information about forfaiting, and professional journal related with international finance.

• 무역상무연구
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• 제68권
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• pp.171-195
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• 2015

The large increase in RTAs since the late 1980's has challenged the foundations of the multilateral trading system, and thereby has become an axis in the GATT/WTOsystem.While RTAs can be seen to be contradictory to the overall aim of the WTO, they were allowed for in Article XXIV of GATT conditional to certain provision. The failure of compliance and subsequently enforcement of these provisions could be seen as a serious flaw of Article XXIV since the inception of GATT system. Many elements of GATT Article XXIV are not clear and thus lead to divergent interpretations of its disciplines. This considerable divergence in opinions arise from both ambiguities throughout the provisions under GATT Article XXIV. In this regard, both economic and legal work is required to keep up with constantly changing nature of the world trading system. Further, global efforts are required to resolve another teething issue of WTO's problematic institutional framework on GATT/WTO's oversight and surveillance of RTAs. and thereby strengthen the multilateral trading system. Needless to say, theGATT/WTOframework has been essential in paving the way for RTAs while ensuring a more multilateral and liberal trading system. Consequently, global efforts should be made to restructure the WTO for the renewed multilateral trade liberalization in the GATT/WTO.

• 수산경영론집
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• 제40권3호
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• pp.89-105
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• 2009

South Korea imports more than one hundred tons of fishery products every year from China, Japan, North Korea, etc. However, imported North Korean fishery products was only 4% of the total fishery products imported in 2007. Though South-North Trade as inter-Korean trade is exempted from tax, imports of North Korean fishery products have not been activated owing to import restrictions, insufficient quality control etc. Expanding imports of North Korean fishery products seems, however, to contribute to lessen the supply and demand unbalance in fishery products of South Korea. It will especially gratify a part of fresh and cold fishery products demand. Therefore, we need to expand the imports of North Korean fishery products by quality control improvement, reformation of origin certifying system, import liberalization etc. This study researches the demand and supply of fishery products of South and North Korea, the actual conditions of imports of North Korean fishery products, and suggests strategies to expand their imports. As the greatest reason to oppose imports of North Korean fishery products is the pricing pressure of domestically produced fishery products due to imports of North Korean fishery products, we need to research and analyze the distribution channels, retail markets, sales prices of imported North Korean fishery products to verify that imports of North Korean fishery products has not caused lower pricing of domestically produced fishery products.

• 통상정보연구
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• 제8권1호
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• pp.437-453
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• 2006

Services could move over the world where they want to go. Especially, travel services shared 29.4 percent of total world exports, 625 billion dollars in 2004 (WTO, 2005). Tourism is a very important sector in service trade in the world. Of developing countries, Korea has been experiencing remarkable development in female outbound travel market since the complete liberalization on overseas travels in 1989, with about 3.85 million travelers in 2005, 2,000 percent growth rate over 1988. It means woman's social status has been increasing in Korea. Especially, in the study young housekeepers, solely office ladies, and college students were described as very important market segments in Korean woman outbound travel market. They were not only major decision makers, but also executors because of both enough economic power and social status improvement on small sized family. This study indicated that woman outbound travel market gets larger because their buying power and status are going to go improved in Korean social system. It is recommended that marketers be worth watching Korean woman travellers as a major target market through continuos observation and analysis.