• KDI Journal of Economic Policy
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• v.27 no.1
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• pp.185-209
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• 2005

This study examines ERPT with asymmetric response and both import and export market shares, using wool trade data. The study found that, asymmetric response may be as common as symmetric response. In addition, the responses (both in price and quantity demanded) to the changes in exchange rate are considerably different across goods, and even for the homogenous goods, across countries. In case of depreciation, the export price changes more than appreciation case in general, and as a result the destination price changes less. It is also found that the cases of excessive or perverse pass-through are found more frequently than reported by previous studies. This finding points out that strategic behavior of firms or unexpected response to exchange rate fluctuation takes place more frequently than we commonly expect or take, in particular at disaggregated levels. When the model considers asymmetric responses of the export price to appreciation and depreciation (of exporter's currency), the estimation provided that for 39 trade cases out of 83, export price responded to appreciation and depreciation in different fashions, although the normal response was the dominating phenomenon with 99 cases or about 60% out of 166 cases. Market shares affected the extent and direction of responses in select cases. These findings will have important implications for policy makers and traders.

• Fashion & Textile Research Journal
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• v.9 no.1
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• pp.24-34
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• 2007

The shroud of the Chosun dynasty period originally meant the new start in the next world. Its basic principle was to wear the best clothes or wedding garments during one's life. The white hemp cloth-shroud worn during this time was formed after the 20th century. In the beginning it started simply by imitating the shroud of the common people. However recently many aspects of the trade have deteriorated by the commercialism of the shroud traders. So this study focuses on the way of keeping traditions and making the shroud desirable. First, the shroud was made of the best materials such as silk, hemp cloth, ramie cloth and cotton cloth in the past. A thought that the shroud material must be white hemp cloth is the result from misunderstanding of the traditional shroud of the Chosun dynasty period. We can produce beautiful shrouds using natural materials without losing dignity and at diverse prices. Second, the shroud was produced not only to keep the dignity of a dead person but also to avoid wasting the original cloth. Third, The shroud has pursued diversity in classifying the traditional style or the basic style. It is possible to select the shroud flexibly according to one's sense of values or the way the tomb was made. These days, the Korean full-dress attire and Wonsam (Korean woman's ceremonial clothes) are the standardized form of the ready-made shroud. The man's Korean full-dress attire on sale is sewn in the wrong way and its shape looks more like the Wonsam. I offer diverse shrouds of the Chosun dynasty period, for example, the official uniform, hemp cloth upper garment, men's black upper garment, Korean full-dress attire, Korean overcoat, Wonsam, the long hood worn by a Korean woman and a woman's long upper garment, so that we can see the Korean originality and beauty through the different types of shrouds. Also, I adjusted a number of items, undergarments and other articles according to the price. As mentioned before this study helps to portray a desirable understanding of the culture of the shroud. So I corrected many problems of the present shroud and propose a new type of shroud based on tradition. Furthermore, I recommend a way of making use of the Hanbok which the man wears during his life, at the wedding ceremony or a his 60th birthday without buying a new shroud.

• Journal of Distribution Science
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• v.12 no.2
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• pp.105-112
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• 2014

Purpose - This research undertakes to understand the trade structures of both China and Japan to strengthen Sino-Japan economic cooperation and examines impediments to trade between the 2 countries to analyze causes which affect trade and to examine improvements in these areas to find out ways of trade expansion. Through this survey of a defined period of time, we can identify the structural factors of trade dependence in the relationship between China and Japan. Research design, data, methodology - The data were collected from Korea Traders Association, Korea Customs Office and UN Comtrade, from which whole table indexes are calculated by author. This research methodology uses trade related indexes to focus on analyzing comparative advantages based on time-series analysis statistics data (2000~2012), by using the analysis index of Trade Intensity Index (TII), Revealed Comparative Advantage Index (RCA) and Trade Specialization Index (TSI). Results - The export ratio for China against Japan was a little higher in 2000 at 2.867 and the export ratio for China against Japan was sustained in 2005. However, it diminished gradually and reached 1.263 in 2012. During the whole period of 2000~2012, the indexes were maintained without any significant change. However, they are still moving closer to -1. Especially, in 2012 it is the closest it has been to -1. Therefore, Japan has a comparative advantage toward export specialization. On the other hand, China has a comparative advantage toward import specialization. For the whole research period, all indexes were much smaller than 1, which means that China has comprehensively had a comparative disadvantage against Japan for the past 10 years when compared to other industries, even though it had improved in 2000. Conclusions - The summary of conclusions based on empirical analysis research are as follows: First, per the Trade Intensity Index of industries between the 2 countries, we can conclude that export ratio index is 2.867, based on the formula, in 2000, which means the export ratio of China against Japan is a little bit higher. Furthermore, the ratios of 2.259 and 1.263 are indicated in 2005 and 2012 respectively which mean the export ratio of China against Japan was maintained in 2005 but was diminishing gradually as the index is 1.263 in 2012. Second, per the Trade Specialization Index of the shipping industry between China and Japan, -0.379 is indicated in 2000, -0.368 in 2005 and -0.568 in 2012. Looking at the whole period of 2000~2012, the indexes were maintained without any significant change. However, they are still moving closer to -1. Especially, in 2012 it is the closest it has been to -1. Third, per the Revealed Comparative Advantage Index of the automobile industry between China and Japan, the RCA indexes in 2005 and 2012 are 0.246 and 0.306 respectively which are still far from 1 even though the index is improved compared to 2000's value of 0.0001. Therefore, the Chinese automobile industry is very much at a comparative disadvantage to that of the Japanese automobile industry.

• International Commerce and Information Review
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• v.2 no.1
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• pp.149-158
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• 2000

[ $\Box$ ]무역업계는 인터넷의 발전에 따라 급속히 사이버화 하고 있는 무역환경에 적극적으로 대응하기 위해 사이버무역의 도입과 활성화를 위한 움직임을 급속히 확대하고 있는 것으로 나타났다. - 조사대상업체의 절반이 넘는(51.8%) 업체들이 자사제품 홍보, 거래선 발굴, 오퍼 및 거래협상 둥 각종 무역업무에 인터넷을 이용하고 있는 것으로 나타났다. - 그러나 무역업계의 사이버무역 활용은 아직 초기단계 수준으로, 이용업체의 절반이상(57.3%)은 작년(1999년) 이후에 처음으로 사이버무역을 시작하였으며 사이버무역에 의한 수출비중도 10% 미만(1999년: 8.8%)의 낮은 수준인 것으로 조사되었다. - 반면, 향후 무역업계의 사이버무역 도입 확대와 수출비중 증가는 가속화될 것으로 나타나, 2000년에는 사이버무역 비중이 전년보다 두 배 이상 늘어난 18.7%에 달할 것으로 예상되었으며, 특히 중소기업의 경우 사이버무역 비중이 상대적으로 대기업보다 커질 것으로 전망되었다. $\Box$ 무역업계가 사이버무역을 도입하는 이유로는 "해외시장 개척효과" 때문이라는 응답이 가장 많았으며, 다음으로 "수출업무 신속화률 통한 인건비 절감"과 "광고비의 절약" 등의 효과를 염두에 두고 있는 것으로 나타났다. - 따라서 여러 수출단계 중에서도 "해외거래선 발굴"， "해외시장정보의 수집", "자사 제품의 해외 홍보" 등 주로 시장개척과 마케팅단계에서 사이버무역이 가장 많이 활용되고 성과도 큰 것으로 나타났다. - 시장개척과 마케팅을 위하여 약 40%의 무역업체가 무역거래 알선 사이트를 이용하고 있으며 특히 중소기업의 활용이 두드러진 것으로 파악되었다. - 반면, 사이버무역 활동이 애로를 겪고 있는 수출단계로는 "대금결제, 물류 유통", "신용조회", "거래계약 체결" 등의 순으로 조사되었는데, 이는 국제적 인증제도의 미비, 신용조사에 대한 공신력 부족 둥이 주된 요인인 것으로 분석되었다. $\Box$ 한편, 무역업계는 사이버무역의 필요성과 활용성과에 대해 긍정적인 인식을 갖고 있으나, 사이버무역을 활성화하는데 필요한 인프라로서 사이버 무역 전문인력이나 인터넷 통신환경 등은 아직 만족할 만한 수준이 못 되는 것으로 조사되었다. - 사이버인력 부문에서는 무역업무 종사자 중 인터넷 활용직원의 비율이 50%가 되지 않는 업체가 전체의 절반을 넘고 있으며, 특히 중소기업의 인터넷 활용 직원의 비율이 대기업에 비해 낮은 것으로 나타났다. - 향후 무역업체가 10명의 무역인력을 채용한다고 가정할 경우, 평균 4.5명을 사이버무역 전문인력으로 채용할 계획이라고 밝히고 있으며, 중소기업(4.7명)이 대기업(3.4명)보다 사이버무역 전문인력에 대한 수요가 더 큰 것으로 나타나 이에 대한 대책이 시급한 것으로 파악되었다. - 인터넷 전용선 설치비율도 전체적으로 40%대에 그치고 있으며, 특히 중소기업의 경우 전용선 이용비율(38.5%)이 대기업(80%)의 절반에도 못미치는 열악한 수준에 있어 중소기업의 사이버 무역이용에 하나의 걸림돌이 되고 있는 것으로 조사되었다. $\Box$ 사이버 무역활성화를 위해 가장 시급한 과제로는 "사이버무역 전문인력 확충을 위한 체계적 교육 및 훈련제공"과 "사이버무역 관련법규 및 제도의 마련"으로 나타나, - 정부나 유관기관이 앞장서서 사이버무역 관련 교육프로그램의 개발, 자격시험제도의 도입 등과 아울러 대외무역법 둥 관련법률 및 제도를 정비해 줄 것을 무역업계에서 기대하는 것으로 지적되었다.

• International Commerce and Information Review
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• v.16 no.1
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• pp.91-116
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• 2014

This study reviews the methodology for utilizing information technology by which even non-professionalists in FTAs and commodity classification area can perform the determination of commodity classification, with ease and by themselves, by means of easy utilization of the information on commodity classification and FTAs, of importing and exporting goods. This article examines the technological elements and logics, etc. which simulate the commodity classification for utilizing FTAs. To achieve this, the author has developed the technology to support the determination of commodity classification numbers by accumulating the database of examples for classification after analyzing the classification factors by each commodity item. Utilizing this Commodity Classification Determination Supporting System, users can enjoy effects of education as well as consulting. In this regards, the advantages of this system can be enumerated as followings : Firstly, self-checking on commodity classification can be performed. Secondly, time and cost for classification can be saved. Thirdly, comprehensive competitiveness will be enhanced by allowing traders to achieve the benefit of FTA preferential tariff, for they will be able to issue the Certificate of Origins on a more accurate and precise basis of commodity classification.

• The Korean Journal of Financial Management
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• v.20 no.1
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• pp.191-212
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• 2003

Recently, there is a growing body of literature that suggests that information inefficiency is one of the causes of the asymmetric volatility. If this explanation for the asymmetric volatility is appropriate, then innovations, such as the introduction of futures, may be expected to impact the asymmetric volatility of stock market. As transaction costs and margin requirements in the futures market are lower than those in the spot market, new information is transmitted to futures prices more quickly and affects spot prices through arbitrage trading with spots. Also, the merit of the futures market may attract noise traders away from the spot market to the futures market. This study examines the impact of futures on the asymmetry of stock market volatility. If the asymmetric volatility is significant lower post-futures and exist in the futures market, it has validity that the asymmetric volatility is caused by information inefficiency in the spot market. The data examined are daily logarithmic returns on KOSPI 200 stock price index from January 4, 1993 to December 26, 2000. To examine the existence of the asymmetric volatility in the futures market, logarithmic returns on KOSPI 200 futures are used from May 4, 1996 to December 26, 2000. We used a conditional mode of TGARCH(threshold GARCH) of Glosten, Jagannathan and Runkel(1993). Pre-futures the spot market exhibits significant asymmetric responses of volatility to news and post-futures asymmetries are significantly lower, irrespective of bear market and bull market. The results suggest that the introduction of stock index futures has an effect on the asymmetric volatility of the spot market and are inconsistent with leverage being the sole explanation of asymmetry. However, it is found that the volatility of futures is not so asymmetric as expected.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.77
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• pp.239-258
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• 2018

The purpose of this study is to examine the legal standards of agreements on the origin of liability and the relevant laws in Korea, to suggest implications for custom authorities and traders wishing to benefit from preferential tariff via FTA, citing the excluded cases of related FTA preferences (court cases and administrative judgments). In order to examine the provisions related to supporting evidence of the origin of liability in FTA, we examined FTAs agreed between Korea and EU, EFTA, ASEAN, U.S., and India relevant to FTA Special Customs Act, court cases and administrative judgements. If verifying the origin to protect the fair trade order impedes to promote utilizing FTA, solutions will need to be suggested. If FTA preference is exempted due to verifying the origin by the import customs authorities, the importer shall pay the income tax calculated in accordance with the general tax rate. This is because the certificate of origin confirmed during verification process is different from the actual origin. In most agreements, the exporter (the producer) shall issue the certificate of origin and since the importer has no other option than obtaining the certificate of origin from the exporter, it may face consequences such as declined credibility from the custom authorities in addition to being disqualified for FTA preferential, if the certificate of origin received from the exporter has flaws. On the other hand, the exporter cannot help but being punished by the customs authorities due to issuing defective origin certificates, but it doesn't have conventionary liabilities for damages incurred to the importer. As a result, importers are forced to pursue legal proceedings to claim damages to exporters or to give up FTA preference. As FTA is increasingly utilized, the number and amount of origin verification in Korea has continuously been increasing while administrative judgements indicates other FTA exporters doesn't seem to gain any support in utilizing FTA like Korea does. It has been 8 years since full-scale supports in FTA launched and now is the time to introduce more efficient and intensive FTA support system In this regard, it is desirable to conduct comprehensive verification on export Next, an institutions that assures FTA-based exports should be established in order to compensate the importer's damages that may occur from disqualified certificate of origin issued by the exporter.

• Journal of Korea Port Economic Association
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• v.36 no.1
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• pp.59-76
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• 2020

The purpose of this study is to analyze the factors of the main selection criteria of the contract form used to conclude the sales contracts of used ships and to assist parties in selecting the most suitable contract form for trading situations. The methods of the study are based on identifying the factors from the questionnaires using analytic hierarchy process analysis, following the selection of typical details through interviews with the S&P Broker Group and finding the solutions that match each detail. The analysis shows that ship traders prefer the Norwegian Sales Form (NSF) to NIPPONSALE for various reasons. Considering the sellers' situations, NFS is the more reasonable option for major countries, except Japan. NIPPONSALE is relatively more focused on the advantages of the buyer's conditions, including for Japan. It is important to select the appropriate clauses from these types of contract, according to the trading conditions, including the main and additional terms, in order to create a mutual agreement between the shipper and the consignee that leads to more cooperation and balances the purposes of both parties in adjusting the time for securing and disposing of the vessels.

• Asian-Australasian Journal of Animal Sciences
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• v.33 no.4
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• pp.640-650
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• 2020

Objective: Although the slaughter of cull sows (CS) for human consumption and meat products processing appears quite common throughout the world, relatively limited scientific information regarding the meat quality parameters of this pork type is available. The present study aimed at providing the technological quality characteristics and eating quality of CS meat, and comparing with those of commercial pork. Methods: Longissimus thoracis et lumborum muscle samples of CS and finisher pigs (FP) at 24 h postmortem were collected and used for investigation of the meat quality traits (pH, color, shear force, cooking loss, water holding capacity), fatty acids, flavor compounds and sensory characteristics. Results: The CS meat had significantly higher moisture content (p = 0.0312) and water holding capacity (p = 0.0213) together with lower cooking loss (p = 0.0366) compared to the FP meat. The CS meat also exhibited higher (p = 0.0409) contents of unsaturated fatty acids, especially polyunsaturated fatty acids (PUFA, p = 0.0213) and more desirable PUFA/total saturated fatty acids ratio (p = 0.0438) compared to the FP meat. A total of 56 flavor compounds were identified, amongst the amount of 16 compounds differed significantly between the two pork groups. Most of the PUFA-derived flavor compounds (e.g., hexanal, benzaldehyde, and hydrocarbons) showed higher amounts in the CS meat. While, 3-(methylthio)-propanal and 4-methylthiazole associated with pleasant aromas (meaty and roast odor notes) were only found in the FP meat. Furthermore, no differences were reported by panelists for flavor, juiciness, tenderness, and acceptability scores between the two pork groups studied. Conclusion: The sow meat exhibited better technological quality and its eating quality could be comparable to the commercial pork. This study provides meat processors and traders with valuably scientific information which may help to improve the utilization and consumption level of sow meat.

• Journal of Distribution Science
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• v.13 no.10
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• pp.93-99
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• 2015

Purpose - It has been argued that the regulations restricting entry and opening hours of General Super Markets and Super Super Markets have not been as effective as expected. In contrast, the win-win item scheme that appeared recently has the advantage that it could raise the effectiveness of the system in that win-win items are in principle resigned on the basis of bilateral agreements. This study analyzes the win-win item agreement made between Homeplus at Hap-jung and small traditional markets to examine the practical effectiveness of the win-win item scheme. While existing literature studying the regulatory effects have concentrated on the restrictions around store entry or opening hours of large retailers, it can be said that there have been few empirical studies on the effect of win-win items agreement with large retailers. Research design, data, and methodology - Homeplus at Hap-jung made a win-win items agreement with nearby small traditional market traders in 2013. In accordance with this voluntary agreement, Homeplus started by limiting its sales to 15 win-win items. The survey was conducted through one-on-one interviews, April 14 to May 2, 2014, by a professional public opinion research agency. The interviews were targeted at small business retailers in the nearby traditional market. We divided the traditional markets near Homeplus at Hap-jung where the win-win item agreement was achieved into two groups, win-win item agreement markets and non win-win item agreement markets, to compare the performance difference between the two groups. Results - To determine the change in sales of the 15 win-win items, we examined the performance difference between the two groups using two criteria (compared with similar items, and compared to sales volume a year ago). The results show that the individual sales of win-win items in the win-win item agreement markets are more likely to increase than in the non win-win item agreement markets. Total sales volume of individual stores in the agreement markets also showed a more significant increase compared to a year ago than those in non win-win item agreement markets. Conclusions - Contrary to the existing retail regulations that have one-sided and uniform characteristics, it can be pointed out that the win-win item scheme has the effect of increasing the success of the system itself because it is done on the basis of mutual agreement between General Super Markets and traditional markets. The empirical results of this study can be said to support this conjecture. For the successful settlement of a win-win items agreement, the following points should be reviewed. First, it requires a great effort from the selection process of win-win items in order to improve the effectiveness of the agreement. Second, the existing General Super Markets customers should be introduced to the traditional markets or small shops to increase the sales of win-win items. Therefore, voluntary effort is essentially required from the traditional markets to engage customers.