• The Transactions of the Korean Institute of Electrical Engineers A
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• v.53 no.7
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• pp.414-419
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• 2004

In TWBP new uncertainty will be increased. Risk management is risen to a important problem. Vesting contract makes market Players trade at fixed price in TWBP early stages. In the case of advanced country, market players manage risk with a future contract. When a risk management method moves from vesting contract to future contract, it may have to use together two contracts for schedule period. In this paper, risk management strategy that use vesting contract and forward contract at the same time is proposed.

• Korean Journal of Veterinary Research
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• v.47 no.2
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• pp.259-263
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• 2007

The choice of input distribution in quantitative risk assessments modeling is of great importance to get unbiased overall estimates, although it is difficult to characterize them in situations where data available are too sparse or small. The present study is particularly concerned with accommodation of uncertainties commonly encountered in the practice of modeling. The authors applied parametric and non-parametric bootstrap simulation methods which consist of re-sampling with replacement, in together with the classical Student-t statistics based on the normal distribution. The implications of these methods were demonstrated through an empirical analysis of trade volume from the amount of chicken and pork meat imported to Korea during the period of 1998-2005. The results of bootstrap method were comparable to the classical techniques, indicating that bootstrap can be an alternative approach in a specific context of trade volume. We also illustrated on what extent the bias corrected and accelerated non-parametric bootstrap method produces different estimate of interest, as compared by non-parametric bootstrap method.

• International Commerce and Information Review
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• v.9 no.3
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• pp.107-129
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• 2007

In 1990s, both development of internet and digital economy would make new products such as digital goods. Recently, digital goods composed of softwares, digital contents, and digital services have grown up rapidly in the world market. Characteristics of goods and transaction forms in the international trade of digital goods is different from those of traditional goods. Thus, this difference would appear a new risk that did not exist in the international trade of traditional goods. Identification and confirmation about unique export risks of digital goods would be necessary to the increase of export of digital goods needs; however, in spite of the importance, very few studies have been based on the export risks of digital goods particularly in research on the relationships between export risk management and export performance. This study classifies the types of export risks based on the previous studies, and examines the relationship between both management and identification of export risks.

• International Commerce and Information Review
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• v.19 no.4
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• pp.3-28
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• 2017

This study examined factors, such as benefit perception, risk perception, product, and website, which affect consumer attitude toward overseas direct purchase. To achieve this, 298 Korean consumers who have experienced overseas direct purchasing were analyzed. The results show that delivery risk and product risk were the most influential determinants of the level of trust level in overseas direct purchase sites. In addition, the results of this study confirm that the level of trust in overseas direct purchase sites has a strong influence on both the intention to recommend and the intention to continue patronizing the site. Moreover, this study conducted a mean difference analysis according to the types of overseas direct purchases (overseas direct delivery, overseas purchasing agency, and overseas delivery agency) and product categories (clothes, food and beverage products, and household appliances). This study lists various practical implications that can be applied to each overseas direct purchase service by firm and consumer characteristics.

• Korea Trade Review
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• v.43 no.5
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• pp.1-23
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• 2018

Forfaiting is a trade finance facility whereby financial institution purchases accounts receivable from exporters on a without recourse basis to resolve exporters' credit risk. Since the effectuation of Uniform Rules for Forfaiting(URF 800), exporting companies have been interested in forfaiting and foreign exchange banks in South Korea have expanded products related to forfaiting. However, the risk management for dealing with forfaiting needs improvement. In this paper, we will compare current forfaiting risk managements between foreign exchange banks and foreign banks in South Korea by studying the agreements for each bank and standard forfaiting agreements of the ICC. There is a significant gap for risks covered and points of reserve(points of recourse) between each bank. This work suggests the need for unification for these gaps in order to enhance risk management for exporting companies and foreign exchange banks in South Korea.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.12
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• pp.21-31
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• 2020

This study investigates the dynamic effects of economic development, international cooperation, electricity consumption, and political risk on the escalation of CO₂ emission in Vietnam. We adopted autoregressive distributed lag model and Granger causality method to examine the interaction between CO₂ and various economic and political factors, including foreign direct investment, trade openness, economic growth, manufacture, electricity consumption, and political risk in Vietnam since the economic revolution in 1986. The findings reflect opposite influence between these factors and the level of CO₂ in the intermediate and long-term durations. Accordingly, foreign direct investment and CO₂ emission have a bidirectional relationship, in which foreign direct investment accelerates short-term CO₂ emission, but reduces it in the long run through an interactive mechanism. Moreover, economic development increases the volume of CO₂ emission in both short and long run. There was also evidence that political risk has a negative effect on the environment. Overall, the findings confirm lasting negative environmental effects of economic growth, trade liberalization, and increased electricity consumption. These factors, with Granger causality, mutually affect the escalation of CO₂ in Vietnam. In order to control the level of CO₂, more efforts are required to improve administrative transparency, attract high-quality foreign investment, and decouple the environment from economic development.

• Journal of Korea Trade
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• v.25 no.3
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• pp.65-86
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• 2021

Purpose - This paper empirically investigates the relationship between the corporate value chain and performance of non- financial businesses of South Korean stock market companies. It aims to explore the evidence that can be used to infer the relationship between value chains and corporate performance in the case of firms forming a value chain with other companies with the means of an equity investment or a special business relationship. Design/methodology - Non-financial corporations listed from 2011 to 2017 on the securities market of South Korea are analyzed. The data used for analysis are found for transactions with the related party by year for all the corporations of non-financial industries in the securities market. Multiple analysis attempts are conducted including the relationship between the value chain and productivity, corporate value, risk-adjusted corporate value, and mediation effects of productivity. The empirical model employs sixteen variables including the value chain index which identifies its impact on various aspects of business performances. Findings - The results of this study clearly supports the phenomenon that corporate productivity and value are enhanced when the corporation expands its value chain established with domestic related firms and overseas companies. Such a positive effect is statistically significant even after the possible risk factors that accompany the expansion of value chain were considered, and productivity plays the role as a medicating variable in the effect of the value chain on the corporation values. Originality/value - The findings of this study confirms that domestic companies' expansion of their value chain centered on the related firms overseas that helped them in terms of the maximization of their productivity and corporate values. This study shows that Korean government's policy on expanding the corporate GVC can enhance the productivity and value of firms. The expansion of value chain and its impact on business performance has not been explored thoroughly, although it is getting more and more important in the global trade operation.

• Journal of Korean Society for Quality Management
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• v.38 no.1
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• pp.34-41
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• 2010

This paper proposes the compliance collaboration index(CCI) which can be useful to measure the level of supply chain's compliance collaboration quantitatively. It can be shown that the proposed index is quite flexible when applied in real situations at the request of the index user. For instance, even if only one company of many companies in trade supply chain to be tested through the AEO certification test is not satisfied the required specification. the index is designed in such a way that the score can't be higher than a certain predetermined value. The proposed CCI can be used as the guidance for a trade company's collaboration process control strategy to increase the efficiency of compliance improvement activity. In this paper, we use the Analysis Hierarchy Process(AHP) which is one of the methods recommended by ISO/ICE as a measurement of weight to be assigned to the relevant parameters considered in the CCI.

• Korea Trade Review
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• v.44 no.4
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• pp.19-34
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• 2019

This study investigates the WTO dispute over Japanese fishery products originated from Fukushima and another seven prefectures. Being subject to an import ban and additional radioactive test requirements, Japan complained that the Korean government's trade measures are inconsistent with the principles of the Agreement on Sanitary and Phytosanitary Measures. This paper considered the contrasting judicial decisions made by the Panel and Appellate Body and analyzed the debates with respect to their trade-discriminatory effects (Article 2.4), the relevance of appropriate level of protection (Article 5.6) and the precautionary approaches (Article 5.7). Consistent with the final rulings, this paper identifies the need for a broaden understanding of regional conditions and qualitative aspects of protection in risk analysis. Findings also suggest that Korea has diverted its fishery imports from Japan to other countries, while Japan has created export diversion from Korea to other destinations.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.39
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• pp.105-142
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• 2008

For many companies, selling in an international market place is the ultimate challenge. One of the greatest problems facing exporters is the increasing insistence by importers that trade be conducted on open account terms. This often means that payment is received many weeks or even months after delivery. Unsurprisingly, many organisations find that giving buyers credit in this way can cause severe cash flow problems. Further problems can arise if the importer delays payment beyond originally agreed terms or makes no payment at all because of financial failure. In particular, many SMEs find it difficult to finance their production cycle, since after goods are delivered most buyers demand 30 to 90 days to pay. Therefore, International factoring for SME has been developing very rapidly in the world trade financing markets. Functions of international factoring as trade financing is a comprehensive financial service that includes credit protection, accounts receivable bookkeeping, collection services and financing. Factoring can be a powerful tool in providing financing to high-risk, informationally opaque sellers. International factoring is very helpful for international exporters to get competitiveness in the world markets. In Korea, a few banks are operating international factoring. But International factoring in Korea could not play a key roll as general trade supporting service. So, This study is to suggest importances of international factoring development for trade development and to investigate real operation situations and problems by way of interviews with operators in banks that are operating international factoring and suggest development strategies for international factoring in Korea.