• KDI Journal of Economic Policy
• /
• v.45 no.3
• /
• pp.1-24
• /
• 2023

This paper empirically examines the relationship between inter-Korean trade and inter-Korean relations over the past three decades. It asks two questions: (1) Does inter-Korean trade contribute to improved inter-Korean relations and peace on the Korean Peninsula? (2) Does improved inter-Korean relations lead to increased inter-Korean trade? The study employs a time-series causal relationship analysis methodology to answer these questions. The findings show that during the progressive government's reign, inter-Korean trade was not impacted by inter-Korean relations. This is due to the implementation of a political-economic separation policy towards North Korea. Moreover, the increase in general trade and processing on commission did enhance inter-Korean relations, reflecting the "inclusive policy" aimed at achieving peace on the Korean Peninsula through inter-Korean trade. In contrast, during the conservative government's reign, inter-Korean relations had a direct impact on inter-Korean trade, with deteriorating relations leading to a significant decrease in trade. This was due to the implementation of North Korea policies that were linked to politics and the economy.

• Journal of Korea Port Economic Association
• /
• v.29 no.1
• /
• pp.195-213
• /
• 2013

Since 1990, North Korea's economic situation has drawn the international community's attention and became an important factor to analyze and judge the situation in North Korea, in the Korean Peninsula and even in the whole Northeast Asia. As North Korea's neighbors, Sino-Korean trade and Inter-Korean trade play an important role in North Korea's foreign trade. Based on situation analysis, the great connection and difference between Sino-Korean trade and Inter-Korean trade are given an introduction. Also by exploring reasons for Sino-Korean trade development, we can gather some insights for Inter-Korean trade development.

• East Asian Economic Review
• /
• v.20 no.3
• /
• pp.339-363
• /
• 2016

This paper analyzes why the global financial crisis in 2008 severely affected Asia's trade. Asia has been suffering from the falls in export demand from developed countries. However the abrupt trade declines in Asia are not fully explained by reactions to this as in previous experiences. The question is why the financial crisis in 2008 brought about the abrupt and deep collapse in world trade, while other world-wide recessions had more moderate effects on world trade. This paper shows that the dynamic relationship between trade and trade finance is one important factor in explaining this question. This paper also applies the Granger (causality) test to uncover different relationships in the developed and developing economies and show different results for different countries in Asia. We employ a Markov-Switching FAVAR (Factor Augmented VAR) to show that global liquidity shocks are important factors in explaining the huge and abrupt trade drops in Asia.

• Journal of Korea Port Economic Association
• /
• v.20 no.2
• /
• pp.275-288
• /
• 2004

The rising of east-north economic bloc is notable in world economy due to the rapidly growth of china economy. The China's economic standing is gradually higher and higher because the joining of the WTO at 2001, development of the exterior open-door policy and the expansion of the trade between chain and several nations. Since Korea and China normalized diplomatic ties in 1992, the two have made remarkable progress in bilateral relations in the fields of economy and diplomacy in particular. The amount of Korea's trade with China has increased by over 20% a year on the average because of the development of the economic cooperation of Korea and China. That is to say, China was sixth trade partner by the end of 1993, based on the amount of trade. But China became third partner at 1993, second partner at 2003 and first partner at the first half of 2004, based on the amount of trade. Korea can not trade with China from the Korea's port opening period to Cold War period after second world war. But historically, the two countries have shared a active and long history of trade relations from the ancient times up to now. This is because two countries get near geographically and two countries have a implication of history and culture. Not only had Korea trade with China at prehistoric age, but also at BC 7. We knew that Korea had traded with China very actively at ancient times through the Paekje(Korea's ancient country) people's village at Santung province and Changbogo's trade works. Korea-china trade relation has played an important role for the development of world economy. Therefor, based on reviewing the korea-china trade, I study the historical meaning of the trade at the region of east-north asia.

• Management & Information Systems Review
• /
• v.23
• /
• pp.175-199
• /
• 2007

With starting of the WTO system, the environments of international trade and commerce met new aspects of affairs such as lowering of trade barriers among nations and bittering of competition among companies that transcend nation's border. In these changing environments of international trade and commerce, to accomplish high rates of export growth, it is necessary that the government and private companies have to establish new international trade and commerce policies and effective counter plans. In relation to these situations, to cultivate international trade and commerce specialist constantly who can be adapted to the situation of the times, the persons concerned with international trade and commerce education of the university must be considering the change of environments, and analyze the problems and pursue the change constantly to fulfill the needs of the society. Therefore, in this study, we investigated the changing features of the educational environments for international trade and commerce in Korea, and suggested improvement direction of education of international trade and commerce of university. We suggest that following; firstly, development of the link major, secondly, development of standardized curriculum, thirdly, enlargement of cooperation with foreign countrie's universities, and fourthly, activation of the trade incubator project.

• KDI Journal of Economic Policy
• /
• v.45 no.1
• /
• pp.33-68
• /
• 2023

The present article investigates empirically whether non-reciprocal trade preferences (NRTPs) offered by QUAD countries (Canada, the European Union, Japan, and the United States) to developing countries have helped to promote economic growth in the beneficiary countries. Two main blocks of NRTPs are considered here: Generalized System of Preferences (GSP) programs and other trade preferences programs. The analysis used a set of 90 beneficiary countries of NRTPs that are concurrently recipients of development aid over the period of 2002-2018. Using the two-step system generalized method of moments, the analysis indicated that while a higher degree of utilization of each of these two blocks of NRTPs has been associated with a high economic growth rate, development aid enhances this positive effect. This highlights the need for donors to support a development strategy based on the provision of both development aid and NRTPs if they are to help beneficiary countries to promote economic growth. Finally, when the positive economic growth effect of the utilization of NRTPs is higher, the result is a greater country's share of exports (under preferential tariffs) to QUAD countries out of their total merchandise exports.

• Journal of Arbitration Studies
• /
• v.17 no.3
• /
• pp.81-99
• /
• 2007

The purpose of this paper is to analyze trade disputes between Korea and China in terms of broad industrial policy concept and to derive some solution. It provide first a historical overview of the basic theory for the trade policy in the developing countries to see how the trade policy evolved the different stage of option and then try to highlight features of China's trade policy development after the capitalization. An attempt is also made to review the trade dispute in Kimchi in order to identify what are the underlying reasons for policy failure. Finally, we will try to suggest trade strategy with major policy directions which could be relevant for trade development of Korea today. The trade dispute issue with China has been newly coined referring to Korea's weakening economic stance among the two powerful Asians countries, China and Korea has always been closed partners geographically and economically. The study has stressed that the Koreans should not recoil from the trade crisis but to consider it as an opportunity. Rapidly growing Chinese manufacturing industry has heightened the importance of trade between Korea and China, indicating conversion in specialization from vertical to horizontal, according to the economic research so far. This paper has proposed strategy to cope with any trade disputes between Korea and China.

• The Journal of Asian Finance, Economics and Business
• /
• v.8 no.3
• /
• pp.191-199
• /
• 2021

The study examines the causal relationship between financial development and economic growth through trade openness for the leading ASEAN countries (Indonesia, the Philippines, Malaysia, Singapore, Thailand, and Vietnam). The study employs a panel data for the period of 25 years spanning from 1995 to 2015 for the six countries, yielding a balanced panel of 150 observations. Fixed effect model (FEM) and random effect model (REM) are used for the panel data, following the Hausman test performed for model selection. The trivariate Granger causality test is also used to check for possible relationship between the variables. The results show that REM is chosen based on the Hausman test result, suggesting that the trade openness has a positive association with growth whereas the financial development is positively, but insignificantly associated with growth. The reason for this is that the financial development and economic growth may be related to each other. The results are, then, further explored and confirmed by the causality test. That is, the financial development and the economic growth, through the trade openness, are found to have bidirectional positive relationships. This implies that there would be shortcomings when ignoring the presence of trade openness, which positively impacts the relationship between finance and growth.

• Journal of Distribution Science
• /
• v.15 no.1
• /
• pp.7-14
• /
• 2017

Purpose - The purpose of the paper is to examine development strategy that Shanghai port has practiced, and to take out some productive implications to be applied to other port. Research design, data and methodology - The research methods to be applied is first to look into some development progress in terms of trade volumes, and then to review development strategy that is classified with two different aspects, and finally to identify implications. Results - Following the change of economic environment that China has joined to WTO, the way of doing business in Chinese economy has transferred to market economy more closely. Trade volume is higher than before and it attracts to build national infrastructure including port. Development strategy has to be needed to take care of newly faced economic situations, within two aspects, hardware and software approach. Both construction and management are answer to competitive port of Shanghai. Conclusions - From the development strategy of Shanghai port, hardware and software aspects should be emphasized, and it is evident that both trade volume of shipping market and the willingness of port authority have to be getting along with each other in development strategy.

• International Commerce and Information Review
• /
• v.11 no.1
• /
• pp.3-25
• /
• 2009

These days international trade has been converting to e-Trade formation. At this point, Korea has been striving for the trade facilitation; reducing logistics cost and improving foreign competitiveness by computerization operations of the maritime transportation that logistics and customs clearance are involved. However, due to the substantial characteristic of logistics service, the necessity of flexible and various logistics service development using internet has been strongly suggested. In particular, the logistics service which could share documents related to international physical movement between shippers and logistics organization. In this regard, this study carried out interview to explore the problems of physical distribution service and to suggest development direction of e-logistics service. The reason why this survey carried out is that most of users want more effective e-logistic service that could diminish successively real expense decrease. After analysis of survey results, this paper presents the basic development direction and emphasis development subjects. Therefore, the basic direction is presented from four viewpoints; customer-oriented approach, service-oriented approach, total approach and step-by-step implementation. Furthermore six development subjects; web-based standard module development for small and medium forwarders, development of standard logistics ERP system, collaboration model between KTNET and KLNET, system improvement for real users, on-demand system building for SMEs and connection with legacy system have been required.