• Title/Summary/Keyword: export to Vietnam

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Factors Affecting Firm Performance of Small and Medium Enterprises: Empirical Evidence from Hanoi, Vietnam

  • VO, Thi Van Khanh
    • The Journal of Asian Finance, Economics and Business
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    • v.9 no.6
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    • pp.325-329
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    • 2022
  • Enterprises play an increasingly important role in economic development in each country. Effective businesses will make the economies of countries also become efficient and develop. Enterprises play a role in creating jobs, improving labor productivity, and connecting foreign trade and import-export activities. The study aims to evaluate the factors affecting the profitability of small and medium enterprises in Hanoi by using a study of 210 enterprises in the area as well as advanced econometric regression analysis. The research results show that firm size and human capital have no impact on business performance. However, older firms are likely to have higher firm performance, and conversely, younger firms have lower firm performance. The research also confirms that the growth of businesses often has higher firm performance than low-growth ones. Furthermore, a firm with greater value is also more likely to stimulate business performance than lower its value, and this effect is the largest among the analyzed factors. Finally, the study also has some recommendations for the Vietnamese government to develop small and medium enterprises. Specifically, the government needs to create an open mechanism for the start-up movement and create a favorable financial mechanism for small and medium-sized enterprises to be able to access.

History of kimchi industry (김치산업의 발달사)

  • Jo, Jae Sun
    • Food Science and Industry
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    • v.49 no.4
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    • pp.70-81
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    • 2016
  • Kimchi has been one of the main menu on our dining table at all seasons as the best matching side dish with boiled rice. Kimchi was privately made in every household, and it has been commercially made for military feeding since Korean Civil War in 1950. Commercialized kimchi in can was also made for soldiers sent to Vietnam in late 1960s and for workers sent to Middle East in 1970s. As industry was growing, the number of people dining out increased, and with export to Japan in 1980s. Kimchi industry had greatly expanded until 1990s. However. the growth of industry has slowed down as individual consumption decreased and import from China radically increased. Since 2000, kimchi industry has been growing again focusing on quality improvement, which is possible due to up-to-date system and high standard sanitation control in manufacturing. Kimchi becomes the most important cultural product at the core of our food culture as all Korean people realize that it contains not just a wide variety of ingredients but unique flavors of each local areas and sincere heart of local people. Commercialization of kimchi will increase even though its consumption decreases as people's dietary life changes.

Economic Impacts of a Possible South Korea-Malaysia FTA on Trade

  • Kim, Yoomi
    • SUVANNABHUMI
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    • v.15 no.1
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    • pp.255-275
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    • 2023
  • Trade between South Korea and Malaysia has been steadily increasing since the conclusion of the multilateral Free Trade Agreement (FTA) between the Association of Southeast Asian Nations (ASEAN) and South Korea. Bilateral FTAs such as Singapore-South Korea, Vietnam-South Korea, and Indonesia-South Korea came into effect to enhance the economic cooperation between South Korea and major ASEAN countries. However, the bilateral FTA between South Korea and Malaysia, known as Republic of Korea-Malaysia FTA, is still under negotiation. Therefore, this study aims to analyze the economic impact of a possible FTA between these two countries. To examine the economic effects of bilateral FTAs, this study analyzes the trade structure and change in the value of trade between Malaysia and South Korea using panel data analysis. Two significant findings were identified by the analysis. First, the Republic of Korea-Malaysia FTA is expected to promote trade and have a positive effect on the Gross Domestic Product (GDP) of South Korea. Second, the result of the calculated price elasticity based on substituting figures such as tariff, demand elasticity, and export value is that the value of manufacturing exports is expected to considerably get an increase. Therefore, an early FTA between South Korea and Malaysia would be beneficial for both national economies.

Export Prediction Using Separated Learning Method and Recommendation of Potential Export Countries (분리학습 모델을 이용한 수출액 예측 및 수출 유망국가 추천)

  • Jang, Yeongjin;Won, Jongkwan;Lee, Chaerok
    • Journal of Intelligence and Information Systems
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    • v.28 no.1
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    • pp.69-88
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    • 2022
  • One of the characteristics of South Korea's economic structure is that it is highly dependent on exports. Thus, many businesses are closely related to the global economy and diplomatic situation. In addition, small and medium-sized enterprises(SMEs) specialized in exporting are struggling due to the spread of COVID-19. Therefore, this study aimed to develop a model to forecast exports for next year to support SMEs' export strategy and decision making. Also, this study proposed a strategy to recommend promising export countries of each item based on the forecasting model. We analyzed important variables used in previous studies such as country-specific, item-specific, and macro-economic variables and collected those variables to train our prediction model. Next, through the exploratory data analysis(EDA) it was found that exports, which is a target variable, have a highly skewed distribution. To deal with this issue and improve predictive performance, we suggest a separated learning method. In a separated learning method, the whole dataset is divided into homogeneous subgroups and a prediction algorithm is applied to each group. Thus, characteristics of each group can be more precisely trained using different input variables and algorithms. In this study, we divided the dataset into five subgroups based on the exports to decrease skewness of the target variable. After the separation, we found that each group has different characteristics in countries and goods. For example, In Group 1, most of the exporting countries are developing countries and the majority of exporting goods are low value products such as glass and prints. On the other hand, major exporting countries of South Korea such as China, USA, and Vietnam are included in Group 4 and Group 5 and most exporting goods in these groups are high value products. Then we used LightGBM(LGBM) and Exponential Moving Average(EMA) for prediction. Considering the characteristics of each group, models were built using LGBM for Group 1 to 4 and EMA for Group 5. To evaluate the performance of the model, we compare different model structures and algorithms. As a result, it was found that the separated learning model had best performance compared to other models. After the model was built, we also provided variable importance of each group using SHAP-value to add explainability of our model. Based on the prediction model, we proposed a second-stage recommendation strategy for potential export countries. In the first phase, BCG matrix was used to find Star and Question Mark markets that are expected to grow rapidly. In the second phase, we calculated scores for each country and recommendations were made according to ranking. Using this recommendation framework, potential export countries were selected and information about those countries for each item was presented. There are several implications of this study. First of all, most of the preceding studies have conducted research on the specific situation or country. However, this study use various variables and develops a machine learning model for a wide range of countries and items. Second, as to our knowledge, it is the first attempt to adopt a separated learning method for exports prediction. By separating the dataset into 5 homogeneous subgroups, we could enhance the predictive performance of the model. Also, more detailed explanation of models by group is provided using SHAP values. Lastly, this study has several practical implications. There are some platforms which serve trade information including KOTRA, but most of them are based on past data. Therefore, it is not easy for companies to predict future trends. By utilizing the model and recommendation strategy in this research, trade related services in each platform can be improved so that companies including SMEs can fully utilize the service when making strategies and decisions for exports.

Is China a Trade Competitor of ASEAN? A Chinese Perspective on the Proposing, Cultivation and Implications of the CAFTA

  • WANG, Liqin
    • Journal of Contemporary Eastern Asia
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    • v.10 no.2
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    • pp.1-23
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    • 2011
  • China's proposal of the CAFTA (China-ASEAN Free Trade Area) in 2001 prompted a great debate about whether China was a trade competitor of ASEAN, given their similarity in economic development levels and trade/export structures. That Beijing shifted its focus on economic cooperation from the international level to the regional level led to its proposal of the CAFTA. As the Framework Agreement (Framework Agreement on Comprehensive Economic Cooperation between China and ASEAN) showed, Beijing's careful consideration for four newer ASEAN members (Cambodia, Laos, Myanmar and Vietnam) intended not only to help all ASEAN members develop economically, but also to narrow the economic gap existing between them and the six old ASEAN members; in return, China was recognized as a full market economy, which it is not currently recognized within the framework of the WTO. The substantial rise in bilateral trade and the structural changes of the trade in goods between China and ASEAN member nations after 2001 proves that ASEAN benefited more from the CAFTA, particularly when the areas where ASEAN had the comparative advantages were designated as the priority cooperation areas between China and ASEAN. In sum, similarities existing in economic development levels and industrial structures between China and ASEAN made them natural economic competitors. However, closer studies of trade in goods of S1-7, S1-6 and S1-0 reveal that China acted as an increasingly complementary trade partner of ASEAN after 2001.

Analysis of the Characteristics of Korean Mushroom Exports (2008-2022) (한국의 버섯 수출의 특징 분석(2008~2022))

  • Woo-Sik Jo;Chang-Yun Lee;Young-Hyun Rew;Hun-Joong Kweon
    • Journal of Mushroom
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    • v.21 no.1
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    • pp.1-7
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    • 2023
  • This study addresses the current demand of the Korean mushroom export industry to establish an export strategy and governing policies.The enoki mushroom exports increased by 89% in 2009 and 23% in 2010, resulting in the largest export volume (17,163 tons) and export value ($26,292,000) being recorded in 2010. In contrast, exports in 2020 yielded only $18,525,000, which was 29% lower than that in 2010. In case of king oyster mushrooms, exports increased by 10% in 2012, 13% in 2013, and 2% in 2014, maintaining a moderate-growth trend. Moreover, Korea's mushroom exports are focused on a few specific countries. Enoki mushrooms accounted for more than 50% of the total exports to North America and Vietnam from 2012 to 2022, whereas king oyster mushrooms accounted for more than 50% of the total exports to Europe and North America (USA and Canada) from 2009 to 2022. Another characteristic trend in Korean mushroom exports is the diversification of export markets. The number of countries importing enoki mushrooms and king oyster mushrooms from Korea is increasing.

An Exploratory Study on Logistics Infrastructures in Cambodia : Current Issues and Future Solutions (캄보디아의 물류 기반시설에 관한 탐색적 연구 : 그 쟁점과 해결방안)

  • Long, Dannsoleilnay;Kim, Jong-Chill
    • International Commerce and Information Review
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    • v.16 no.4
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    • pp.333-362
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    • 2014
  • This study uncovered some issues that have constrained the development of logistics performance in Cambodia. Firstly, literature review was narrowed down to include studies involving the relationship between Logistics and transportation, the relationship between the infrastructure and economic growth and the important role of logistics on economic growth and poverty reduction. Then the next step the study identified some issues related to transport infrastructure that were assumed to cause the enhancement of logistics sector. Moreover, a case study about cost and time analysis was used to address some issues of logistics cost in Cambodia comparing to its neighboring countries: Thailand and Vietnam. Based on the time and cost analysis, it revealed that the logistics cost in Cambodia is much high than Thailand and Vietnam. In addition, some logistics issues were found through other two case studies about the export and trade facilitation. The participants raised some issues related to issuance of certificate of origin, the availability of information about agreements, laws, rules, and regulations, checkpoints along the corridor and opening hours of logistics service providers and slow processes. Then the authors suggested some appropriate solutions to answer to the current issues related to transport infrastructure and logistics sector in Cambodia.

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Quality evaluation of local brand rice in rice exporting countries

  • Kwak, Kang Su;Yoon, Mi Ra;Cho, Young Chan;Lee, Choon Ki;Choi, In Duck;Kim, Mi Jung;Kim, Sun Lim;Kim, Wook Han
    • Proceedings of the Korean Society of Crop Science Conference
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    • 2017.06a
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    • pp.254-254
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    • 2017
  • This study evaluated the grain quality of local brand rice from 6 major rice exporting countries which are anticipated to export their rice to Korea. Recently, with the end of the postponement of rice import tariffs in 2014, Korea is in a very easy environment to import foreign rice. Therefore, the quality evaluation of local brand rice in those countries is needed to secure the quality competitiveness of Korean rice, also to protect the rice industry in Korea. We provided total 38 local brand rice from USA(7), China(16), Australia(4), Thailand(3), Vietnam(5) and India(3), and 2 imported brand rice through MMA from USA and China to find out the status of the grain quality for each country. For the quality evaluation, we analyzed the physicochemical properties, milling and palatability-related characteristics. The amylose content on country average ranged from 24.4(India)~16.2%(Thailand). The protein content was 6.66% by overall average, and was higher in order of India(7.86), Australia(6.80), Vietnam(6.61), Thailand(6.59), China(6.28), USA(5.82). In Toyo glossiness value, it ranged from 75.7~45.2, and the figures in USA and China were the highest level. The head rice ratio ranged from 95.2~72.4%, and the figures in Thailand, USA and China were distinctly high. When we analyze the palatability of boiled brand rice with Chucheongbyeo as check variety by expert panelists, several rice brands from USA and China showed equal or better scores in shape, smell, taste, stickiness, texture and overall score, although most rice brands showed a tendency to decrease significantly in the taste characteristics compared with Chucheongbyeo. From the above results, it can be seen that the grain quality of USA and China rice is very competitive when imported into Korea. The results will provide basic information for the quality control of foreign rice which will be imported into Korea in the near future, also for the quality information which could be applied on the development of high-quality Korean rice varieties. Continuous monitoring about the foreign brand rice is advisable to improve the quality competitiveness of Korean rice.

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The Impact of COVID-19 and Korea's New Southern Policy on Its Global Value Chain

  • Yoo, Jeong-Ho;Park, Seul-Ki;Cheong, In-Kyo
    • Journal of Korea Trade
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    • v.24 no.8
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    • pp.19-38
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    • 2020
  • Purpose - The Korean government has been promoting the New Southern Policy (NSP) prior to the onset of the COVID-19 pandemic, which damage global value chain (GVC). The purpose of this paper is to emphasize that the NSP should be developed to provide tangible support in corporate GVC adjustment, away from diplomatic activities in order to offset GVC losses due to COVID-19 and expand export capabilities. Design/methodology - Two research methodologies are combined for this paper: A computational general equilibrium (CGE) model is used to estimate the impacts of the COVID-19 pandemic and NSP on Korea's exports, and the decomposition methodology (Wang, Wei and Zhu, 2013) to evaluate the stability of GVC. The conventional CGE model was modified to obtain an estimate for decomposition. The research methodology adopted in this study was attempted for the first time, and it can be widely used in future GVC research. Findings - Results found the effects of COVID-19 reduced Korea's total exports by 27% and GVC by more than 30%. In particular, VA in Korea's exports to the NSP region was found to have a huge impact in heavy industries and textiles, and its exports to Vietnam seemed to suffer the largest loss in GVC among ASEAN countries. If the NSP is implemented properly, it appears that it could offset much of the negative impacts of COVID-19, implying the importance of the effectiveness of the NSP. Originality/value - Many papers have assessed the NSP descriptively, and the GVC has been a topic for many publications. However, the impact of COVID-19 on Korea's GVC with the NSP countries has not been quantitatively studied. This paper emphasizes that the NSP should be pursued based on the results of quantitative analysis. In addition, the research methodology of this paper can be used for other GVC research with relevant modifications.

Bear Park Plan to Promote the Welfare of Breeding Bears, South Korea (사육곰 구호를 위한 곰 공원 계획)

  • Lee, Min-Ju;Lee, Jung-Hwan;Park, Hyun-Chul;Lee, Gwan-Gyu;Cha, Jin-Yeol
    • Journal of the Korean Society of Environmental Restoration Technology
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    • v.17 no.6
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    • pp.73-91
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    • 2014
  • Recently the countries breeding bears such as China and Vietnam are promoting a policy that gives relief to wild animals through agreement with AAF and WSPA. Currently our country has lacking breeding space for the increased number of bred bears due to the prohibition of bear import and export from joining the CITES in 1992. There needs to be a place that treats, protects accepts breed bears in the terms of animal welfare. The bear park was hoped to be designed as a means to give relief to bears and promote harmony with the local society, and is made of parking area, waiting area, visitors center, treatment research management facilities, restaurants, food warehouse, food store, bear museum, sanitation facilities, gondola, plaza, rehabilitation area for wild animals, outdoor exhibition center, direct indirect experience area of wild animals, resting facilities and areas, photo zones, bear playground, bear experiencing facilities, fences, information facilities, tree protection facilities and more. The design can be used as a reference in examining alternative measures following the future change in breeding policy as a bear park example which reflected the ecology of a bear in the term of animal welfare.