• 무역학회지
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• 제45권6호
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• pp.181-205
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• 2020

International trade theory is largely divided into the pure theory of international trade and the theory of trade policy. The pure theory of international trade is an academic field that conducts research related to the trade flow of goods and services between countries and the movement of production factors across borders. Meanwhile, the theory of trade policy studies the positive and normative aspects of trade policy which a government adopts to achieve its policy goals. In this study, about 230 papers in the field of international trade theory published in the Korea Trade Review over the past 45 years (1975~2019) are examined in meta analysis by period and subject. First, this study provides the main research subjects of international trade theory, and historically reviews the overall development of trade theory by paying attention to the core and pioneering papers, domestic and foreign. Second, the publications in the field of trade theory are classified by subject, and the domestic and foreign research trends are also examined for each subject with the analysis of major publication of this Journal.

• 무역학회지
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• 제44권4호
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• pp.205-220
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• 2019

This article recapitulates the recent changes in trade laws, which may be accentuated due to the intriguing emergence of fortified protectionism and Mega FTAs. It points out the need to formulate not only the corporate strategy for enhancing the product differentiation and architectural capabilities but also the public policy, which comprises the industrial adjustment policy to cope with possible negative impulses caused by the digital trade and foreign direct investment. It is imperative for Korea to facilitate the alignment between corporate strategy and industrial adjustment policy as an effective means of enhancing industrial structure by nurturing those linkage effects between relevant forward and backward industries. Given the drastically volatile trade norms of multi-track trade policies, it may be a pivotal momentum for Korea to pursue a paradigm shift of its trade policy with a prime objective of achieving such an alignment between corporate strategy and industrial adjustment policy, which affords increased value-added and the further development of product or generic technology instead of resorting to the misuses and abuses of economies of scale and production technology for the maximization of export amount.

• 한국중재학회지:중재연구
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• 제17권3호
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• pp.81-99
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• 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.

• 무역학회지
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• 제48권4호
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• pp.285-301
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• 2023

디지털 무역의 핵심 주제인 정보의 국경 간 이동은 주요 통상국의 시장지배력을 강화하고, 개인정보 보호 등을 위해 정당한 공공정책 목표 달성이 필요한 경우 예외적으로 인정되고 있다. 본 연구는 WTO 주요 협정의 공공정책과 분쟁사례를 분석하고, 디지털 무역협정의 정당한 공공정책 목표의 개요 및 쟁점 분석을 통하여 WTO 다자간 규범을 중심으로 국제통상환경에 적합한 무역 규범화의 올바른 방향 및 시사점에 관하여 살펴보고자 한다.

• 무역학회지
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• 제47권6호
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• pp.39-53
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• 2022

This study conducted a conformity review of Korean shipping industry policy and suggested that the Korean five-year shipping reconstruction policy has not violated the WTO (World Trade Organization) trade law agreement yet. In order to investigate the latest Korean shipping policy, domestic and foreign reports were reviewed, and after that, the WTO's published data and domestic and foreign journals were analyzed. Through this process, this study tried to review the conformity of trade laws by major Korean shipping policies. The shipping industry is a representative service industry, and subsidies for this are not subject to WTO-level regulation in principle. The purpose of Korean shipping industry policy is to support the shipping industry, a type of service industry, and even if the ship-building and manufacturing industries (shipper) indirectly spread benefits in the process, this is unintentional or private-level support. That is, this study concluded that It is understood that Korea's five-year shipping reconstruction policy does not violate the WTO trade law agreement.

• 환경정책연구
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• 제1권1호
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• pp.111-128
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• 2002

The Ministerial Declaration of the 4th WTO Ministerial Meeting at Doha in November 2001 announced the launch of the New Round and a completion date of January 1st, 2005. It agreed to eventually negotiate trade and environment linkage issues, such as the relationship between the WTO rules and Multilateral Environment Agreements and the reduction or elimination of tariff and non-tariff barriers to environmental goods and services. The Committee on Trade and Environment was instructed to pursue work on all items on its agenda within the current terms of reference and to give particular attention to the effects of environmental measures on market access, relevant provisions of the TRTPS Agreement, and labelling requirements for environmental purposes. This means that far the first time, the members of the WTO will discuss and negotiate trade and environment linkage in the framework of multilateral trade negotiation. Korea, from the standpoint of a smaller open economy heavily dependent on international trade, is obliged to overcome the challenges imposed by the environment agenda in the Doha declaration. This study examined the linkage among environment, economic growth and international trade in order to review the possible trade and environment policy implications in Korea. Mutual supportiveness of trade and environment depends much on the effectiveness of trade and environment policy coordination. In this regard, we conclude that the Korean government should provide an appropriate institutional framework to promote closer cooperation among policy makers engaged in negotiations. Trade and environment policy review and environmental impact assessment of trade negotiation should be considered as a work programme of this institutional policy coordination framework.

• Journal of Korea Trade
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• 제27권5호
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• pp.153-166
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• 2023

Purpose - This research empirically analyzes the influence of economic policy uncertainty and free trade agreements (FTAs) on bilateral trade volumes between Korea and its trading partners. The study investigates whether fluctuations in the Economic Policy Uncertainty Index (EPUI) for both Korea and its trading partners significantly impact trade volumes and whether the implementation of FTAs mitigates these effects. Design/methodology - The study employs dynamic panel data analysis using the system generalized method of moments (system GMM) estimation method to achieve its research objectives. It utilizes country-month-level panel data, including the EPUI, trade volume between Korea and its trading partner countries, and other pertinent variables. The use of system GMM allows for the control of potential endogeneity issues and the incorporation of country-specific and time-specific effects. Findings - The analysis yields significant results regarding the impact of economic policy uncertainty on Korea's exports and imports, particularly before the implementation of FTAs. An increase in the EPUI of trading partners leads to a notable increase in Korea's exports to them. Conversely, an increase in Korea's EPUI negatively affects its imports from trading partners. However, post-FTA implementation, the influence of each country's EPUI on trade volume is neutralized, with no significant difference observed. Originality/value - This research contributes to the existing literature by providing empirical evidence on the interaction effects between economic policy uncertainty and FTAs on bilateral trade volumes. The study's uniqueness lies in its examination of how FTAs mitigate the impact of economic uncertainty on trade relations between countries. The findings underscore the importance of trade agreements as mechanisms to address economic risks and promote international trade relations. In a world where global market uncertainties persist, these insights can aid policymakers in Korea and other countries in enhancing their trade cooperation strategies and navigating challenges posed by evolving economic landscapes.

• East Asian Economic Review
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• 제17권1호
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• pp.3-25
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• 2013

This paper evaluates whether the proposed FTAAP is a desirable policy option for APEC member economies and the world economy. More specifically, this paper qualitatively investigates whether the FTAAP satisfies conditions for a trade bloc to generate positive and sufficient net trade creation effect. In addition, this paper estimates the likely impact of the FTAAP by using a CGE model analysis. From the qualitative analysis based on statistical data, this paper strongly argues that the FTAAP can be a desirable regional trade bloc able to generate positive gains from freer trade. From the ex-ante scenario analysis using both static and capital accumulation CGE Models, this paper concludes that the FTAAP has great potential for improving welfare of participating APEC economies and will boost economic growth in the region. In particular, the FTAAP would be even better if it can be linked with liberalization of trade in services and enhanced trade facilitation.

• KDI Journal of Economic Policy
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• 제45권3호
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• pp.1-24
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• 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.

• 한국항만경제학회지
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• 제36권4호
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• pp.93-106
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• 2020

무역은 국가 경제에 중요한 경제활동이다. 특히, WTO 출범 이후 2001년 중국의 WTO 가입, 다자간 무역체계의 확립, 자유무역협정(FTA) 등으로 무역의 범위가 확대되고, 국가 간 무역장벽의 완화 및 통합화로 인해 무역시장의 규모가 확대되고 있다. 그러나 무역시장 규모가 확대됨에도 불구하고, 2008년 글로벌 금융위기, 2016년 브렉시트, 2018년 미·중 무역전쟁과 같은 극단적인 사건 발생하여 무역시장이 직접적으로 타격받고 있다. 이에 본 연구는 무역활동을 대변하는 변수인 국제 해운 운임지수와 미국, 중국 무역 불확실성 사이의 의존구조를 분석 하였다. 분석 결과를 요약하면 다음과 같다. 첫째, 미국, 중국 무역 불확실성과 국제 해운 운임지수 조합의 결합분포가 각각 Frank copula, rotated Clayton copula 270°으로 나타나, 미국, 중국 국가별로 동일한 분포 구조를 보이는 것으로 나타났다. 둘째, Kendall's tau 상관관계를 살펴보면, 국제 해운 운임지수와 미국, 중국 무역 불확실성 사이에 음(-)의 의존성을 갖지만, 의존성 정도는 중국 무역 불확실성과 국제 해운 운임지수의 조합에서 더 크게 나타났다. 즉, 전 세계 수요와 무역 불확실성의 의존성은 미국보다 중국이 더 강하다는 것을 확인하였다. 마지막으로, 꼬리 의존성 결과를 살펴보면, 미국, 중국 무역 불확실성과 국제 해운 운임지수가 서로 독립적인 관계로 나타났다. 이는 무역 불확실성의 극단적인 사건 혹은 국제 해운 운임지수의 극단적인 사건이 발생해도 서로 영향을 받지 않는 것으로 의미한다.