• The Journal of Information Technology
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• v.6 no.4
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• pp.163-175
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• 2003

SURF is a compliance engine, checking document content against detail in an established agreement. It provides a single vehicle for handling documentary trade settlement, regardless of the risk profile and financing requirements of the parties involved. That is, SURF, a Value Added Service connected to the Core Messaging Platform, is a documentary trade settlement service. It offers users of the system automated document compliance checking and a tool to manage the workflow in connection with documentary trade settlement. The Service supports varying degrees of risk transfer between buyer, sellers and banks and supports transactions from open account to more complex Letters of Credit.

• Korea Trade Review
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• v.44 no.1
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• pp.253-268
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• 2019

This paper analyses the characteristics of partner countries when multinational firms of Korea, China, and Japan make greenfield FDI in foreign countries. Particularly, this paper applies the gravity model for greenfield FDI flows for the period 2003-2017. This paper finds that multinational firms of Korea, as compared to those of China and Japan, are very significantly and negatively responsive to political risks of partner countries. In contrast, multinational firms of Korea as well as those of China and Japan tend to make greater amounts of greenfield FDI in financially high-risk countries. This result indicates that multinational firms from these three countries should take financial risks of partner countries into more serious consideration.

• Food Science and Industry
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• v.51 no.3
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• pp.196-208
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• 2018

This paper described the contents of the WTO (world trade organization) SPS (world trade organization) Agreement and trends in the WTO SPS provisions such as equivalence, localization, transparency, and risk assessment. The purpose of the WTO SPS agreement is to promote international trade by preventing arbitrary and unreasonable use of SPS measures, which are the rights of a country for the protection of human health and animal and plant health, and by abolishing the non-tariff barriers. To this end, the requirements for implementing the SPS measures taken by the importing country are restricted to those that can scientifically prove to be inevitable for SPS protection. The major provisions in WTO SPS agreement were elaborated to promote international trades. When trade-restricted SPS measures such as prohibition of imports are made, a scientific basis should be provided. Therefore, it is essential to provide scientific evidence based on risk analysis to protect people's health from potentially harmful imported foods.

• Korea Trade Review
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• v.48 no.2
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• pp.197-216
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• 2023

This research aims to examine and reevaluate the risk management procedures required for facilitating E-Commerce exports by Small and Medium-sized Enterprises(SMEs) in the context of customs risk management procedures. Based on risk management studies, this research focuses on three research questions. First, what courses comprise the export risk management structure? Second, what are the key issues in risk management in facilitating E-Commerce export clearance? Third, based on the research results, what are the implications and improvements for export customs risk management in boosting SMEs' E-Commerce exports? The research concluded that risk control for SMEs' E-Comerce exports should be further strengthened based on a compliance management approach. To achieve this, the customs authorities should develop a new method of reasoning about the difficulties SMEs face in exporting and the risks of failure to comply with the regulations at the foreign markets.

• International Commerce and Information Review
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• v.9 no.1
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• pp.99-117
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• 2007

The purpose of this study is to explore the application sphere of BPM(Business Process Management) to e-trade process using BPM technology and its service architecture in order to expand the usage of e-trade platform which is developing. After close reviewing the current status of trade process, the possibility of BPM application by e-trade process will be analyzed. The result of analysis is that BPM application to local L/C and purchasing confirmation process could be implemented because those processes are very suitable to apply standardized process and can minimize the risk and confusion of users. BPM application to remaining trade process have to be considered by mid-term and long-term project with the reflection of pilot project performance. Also this study suggests a business management model of e-trade process based on BPM technology which is the new IT technology and integrated interface in view of trade community.

• International Commerce and Information Review
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• v.14 no.4
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• pp.339-360
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• 2012

We have more risks in international trade market than in the domestic business market because economic activities are going on with business transactions in different countries. K-sure's Refund Guarantee System is the most important system for Korean Small and Middle Shipbuilding Industries' business, but Korean exporters of Shipbuilding Industries are more interested in export financing through K-sure rather than its financial supporting services. The export insurance becomes more important service for international trade business and it its count as the only one indirect way of supporting export business because export insurance is accepted internationally under the WTO system. Also, it is the only measure that can cover emergency risk, credit risk, exchange risk which cannot be covered by private insurance. As the major risk manager for Korean exporters, the K-sure needs to provide an integrated risk management service for customers. Korean exporters can take more challenges in ever competitive international trade market and we can witness promotion of export in the future which is essential to Korea's economic growth.

• International Commerce and Information Review
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• v.15 no.2
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• pp.25-47
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• 2013

In China, the commercial bank credit financing is the most important external financing channel for SMEs. However, the lack of credit guarantee significantly deters commercial banks to finance SMEs. which may generate a negative impact on the trade activities of SME in China. In this paper we examine the risk of credit guarantee for SMEs financing and the factors affecting this risk through a VAR (Value-at-Risk) model. Our analysis shows that the scale of enterprises' impact on the VAR (risk of financing guarantee) is not much relevant. We also find that the certainty of financing for SMEs, such as the fixed asset ratio, has a significant and negative effect on the VAR of Chinese credit guarantee institutions. The product uniqueness is positively correlated with the VAR, and operation risk is also positively related to the credit risk of Chinese credit guarantee institutions.

• Korea Trade Review
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• v.45 no.2
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• pp.191-209
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• 2020

Project logistics is becoming increasingly important in overseas plant projects. Efficient logistics risk management is needed to reduce construction period and reduce costs. However, Korean construction firms bid unconditionally without sufficient experience and analysis on overseas plants contract, companies are gradually losing profitability on projects due to not considering profitability. Despite the significant effects on the profitability of Korean construction companies, and although these companies still continue to bid on overseas plant projects, policies to manage project logistics risks for safe transport and compliance with the contracted building schedule in the long term is still lacking. Hence, this study investigates the risk factors related to project logistics and to analyze the effect of project logistics risk on overseas plant business performance. We conducted a survey of project-related workers. The results of the analysis are as follows: First, among the logistics risk factors, overseas platform business people recognize operational risk and financial risk factors, which have a positive effect directly on overseas plant performance. Second, the ability to manage project logistics risks can have a significant impact on the success or failure of overseas plants. Finally, if logistics risk factors are managed on the basis of the research results confirmed through empirical analysis, it is possible to carry out more efficient and effective management of the project, which implies that this will have a positive effect on overseas plant business performance.

• Korea Trade Review
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• v.47 no.3
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• pp.17-35
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• 2022

The Pandemic crisis caused by COVID-19 has raised awareness of the importance of supply chain risk management, such as the control of movement between countries and the simultaneous manufacturing paralysis in the world. Effective risk management within the supply chain of the company is a core competency in the global environment. Therefore, this study quantitatively analyzed the perspective of domestic large corporations and small and medium enterprises (SMEs) by using the hierarchical analysis method (AHP) to identify the factors that should be considered as the priority when establishing supply chain risk management plans for large and small business employees. In order to conduct the study, a survey was conducted on large corporations and small and medium enterprises in Gyeongnam and Busan, and AHP analysis was conducted using Microsoft 365 excel program. In addition, Mann-Whitney U test (independent sample-nonparametric test) was conducted using SPSS/18 version of statistical package program for comparative analysis between groups. As a result, the priority was highly evaluated in the order of financial ability, competitiveness, disaster in the overall priority evaluation. There were statistically significant differences in internal risk and strategic decision making of supply chain between groups. This suggests that fandemics such as COVID-19 can not be predicted, but strategic responses are needed to utilize opportunities expressed in the crisis through supply chain risk management and to increase the competitive advantage of domestic companies even in the crisis.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.33
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• pp.247-275
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• 2007

This paper is to propose the Direction for the institutional improvement of Financial Supply Chain Management(FSCM) Solution which are currently coming into operation under Global e-Trading Platform. The Financial Supply Chain compromise the entire trade processes and information that manage a trader's cash, Accounts payable and receivable, Risk, working capital, and so on in international trade transaction. From a buyer's perspective, this involves the full procurement-to-payment process. For the seller, it is the order-to-cash cycle. Bolero provides the party concerned a e-trade platform which conformed to these fundamental pre-requisites to underpin fully electronic trade. But this FSCM solution have failed to provide the efficient platform to effectively manage the process of Global e-Trade because it does not correspond with e-Trade environment. Therefore, present FSCM system need the institutional improvement as follows: AA) Strengthening the role of the correspondent Bank under e-Trade System, BB) Extending the function of e-Trade intermediary institution, CC) The introduction of Trade Insurance System, etc. So, by streamlining and automating these processes on an open and flexible platform, The party concerned can optimize their trade transaction and maintain better relations with their business partners