• Fashion, Industry and Education
• /
• v.14 no.2
• /
• pp.24-34
• /
• 2016

This research examined two decades of the U.S. used clothing exports to the world. All countries (209) were classified into four groups based on the level of economic development. Between 1996 and 2012, U.S. used clothing exports shifted away from low-income economies to high-income economies. For the first time, our research demonstrated that the majority of used clothing discarded by American consumers is exported to high-income economies instead of poorest nations of the world. Next, used clothing exports and imports by volume and value in seven high-income countries were analyzed. The high-income countries not only exported but also imported significant amount of used clothing, which indicates a growing demand for worn apparel in developed nations. The demand might be at least partially attributed to the popular vintage clothing trend and increasing consumer environmentalism. Implications regarding development and implementation of a new classification system of worn clothing and recommendations for future research are presented.

• Journal of The Institute of Information and Telecommunication Facilities Engineering
• /
• v.8 no.4
• /
• pp.163-169
• /
• 2009

Recently, the concern of the FTA (Free Trade Agreement) have shifted to the promotion of the professional service's trade via the bilateral and reciprocal agreement of its professional laws. In the construction industry, this policy has intended to make the standardization of the construction manager's profession in the world. The purpose of this paper is 1) first to define the general model of professions in the U.S., UK and Japan, 2) then to declare the construction manager's model of the profession in them to apply the general model of professions, and 3) finally to analyze the identity of Korean construction managers and acquirement of its construction manager's law comparing with construction manager's model of the profession in the U.S., UK and Japan.

• East Asian Economic Review
• /
• v.22 no.4
• /
• pp.507-529
• /
• 2018

This paper evaluates the whole impact of quantitative easing on inflation in Korea implemented by the central banks in four major advanced economies, the U.S., Euro Area, U.K. and Japan. According to the analysis employing a VAR-X model with the security holdings of those central banks an exogenous variable, quantitative easing is estimated to exert downward pressures on inflation in Korea. Considering the impulse responses of Korean macroeconomic variables to a quantitative easing shock, the spillover effect is transmitted through exchange rate channel while trade channel turns out to be ineffective. In an additional analysis assessing the impact of each quantitative easing program of the central banks, only those of the Fed and European Central Bank are estimated to be significant. The empirical results prove to be robust even if using long-term interest rates as an alternative indicator of quantitative easing.

• Journal of Korea Port Economic Association
• /
• v.36 no.4
• /
• pp.93-106
• /
• 2020

Trade is an important economic activity. In particular, since the establishment of the World Trade Organization (WTO), the scope of trade has been expanding due to events such as the entry of China into the WTO in 2001, the establishment of a multilateral trading system, mitigation and integration of trade barriers, and the establishment of the free trade agreement (FTA). Despite the expansion of the trade market, however, extreme events such as the 2008 global financial crisis, the 2016 Brexit, and the 2018 US-China trade war have had a direct negative impact on the trade market. Therefore, the present this study analyzed the dependence structure between the international shipping freight rate index, a variable representing trade activities, and the trade uncertainty between the US and China. The following is a summary of the analysis results. First, the US-Chinese trade policy uncertainty and international shipping freight rate index presented a Frank copula and rotated Clayton copula 270° distribution, respectively, showing the same distribution structure for each country. Second, the Kendall's tau correlation revealed a negative dependence between the international shipping freight rate index and US-Chinese trade policy uncertainty. The degree of dependence was greater in the combination of uncertainty in China's trade policy and international shipping freight rates. In other words, the dependence of global demand and trade policy uncertainty confirmed that China was stronger than the US. Finally, the tail dependence results revealed that the US-Chinese trade policy uncertainty and international shipping freight rates were independent of each other. This means that extreme events related to the trade policy uncertainty or international shipping rate index were not affected by each other.

• Journal of the Korean association of regional geographers
• /
• v.18 no.1
• /
• pp.55-70
• /
• 2012

Busan port has played a part as the main trade gateway in Korea for several decades. However, due to the rapid integration of China into the global economy and the grand changes in global trade structures, the trade gateway system in Korea and the status of Busan port have been transformed. Busan port's role as a trade gateway toward Japan and U.S. has increased during last two decades but, in cases of China, its importance has relatively decreased. Moreover, Busan port's competitiveness has been undermined in the most part of commodity trade. These phenomena reflect the high competition among trade ports which tend to increase the effectiveness of supply chains. Based on the geographical research tradition which has understood a port as a nexus between hinterland and foreland, this study focuses the changes in characteristics of trade freights and the status as a gateway of Busan port. This approach will contribute to the understandings of dynamics in the comtemporary international logistics.

• International Commerce and Information Review
• /
• v.19 no.1
• /
• pp.155-187
• /
• 2017

In the US, the Sections 301 of the Trade Act of 1974 are still being used to resolve disputes. The U.S' such unilateral retaliations grounded on the Sections 301 of the Trade Act, in fact, violate the WTO agreements and hinder the development of international trade as the trade partner may assume it as a reprisal move impeding the fair settlement of disputes. Here, this study is going to examine the characteristics and functions of the WTO dispute settlement system briefly and compare the countermeasures recognized to be legitimate by the WTO with the U.S' unilateral retaliation. Also, this author will analyse the US-Japan Automobiles (DS6) and EC-Bananas III (DS27) as one of the typical cases resulted from the unilateral retaliation. According to the result, these cases do not conform to WTO-consistency, and it implies that it is absurd to accept the US' unilateral retaliation internationally. In conclusion, presently, it is a global trend to solidify protectionism, and to vitalize trade and resolve trade disputes efficiently, it is needed to prohibit the recourse to unilateral retaliations and also positively apply the WTO dispute settlement system(DSU) defining rules about how to strengthen the multilateral system.

• Journal of the Economic Geographical Society of Korea
• /
• v.19 no.4
• /
• pp.677-693
• /
• 2016

Using Social Network Analysis and Trade in Value Added Database(TiVA), this paper examines the world trade network. Main findings are as follows. Firstly, there are three types of industries, which have dominant status in the world value added trade network. Those are the manufacturing industries in the developing countries such as China's electronics industry, the service industries in the developed countries such as U.S. R&D, and the manufacturing industries in the developed countries such as German motor vehicle industry. Secondly, the major hub industries in the world trade network have their own specific types in the brokerage roles. Most interestingly, U.S. service industries such as the R&D, the logistics industry, and the whole sale and retail industry reveal itinerant and liaison brokerage roles. Thirdly, Korean industries have been dominated by Chinese industries. However, the financial industry and the R&D industry could have revealed superior status as the brokerage role of itinerant. This implies Korean industries could sustain their competitiveness of the hubness status only by openness policy in the service industry.

• Korea Trade Review
• /
• v.43 no.5
• /
• pp.25-45
• /
• 2018

This paper estimates the export losses of the Korean domestic automobile industry due to US trade pressure and its economic ripple effects. Using the HS 6 digit tariff and export data from 2010 to 2017, this paper estimates the tariff elasticity of Korea's US automobile exports against a US tariff increase by applying the Poisson Pseudo maximum likelihood estimation method. After estimating Korea's export losses to the US in three trade pressure scenarios, we estimate its impact on Korean domestic production, value-added and job creation by applying the tariff impact accumulation model based on the industry input-output analysis. Empirical results show that the impact of 25% global tariff by the US on the Korean domestic economy is estimated to result in $30.8 billion in export losses for the five years from 2019 to 2023, about 300 thousand job losses, 88.0 trillion in production inducement losses, and 24.0 trillion in value-added inducement losses. The impacts of withdrawal of the automobile tariff concession are estimated at $4.27 billion export losses and 41.7 thousand job losses. A 15% tariff rate on automobile parts for 3 years is estimated to result in $1.93 billion export losses and 18.7 thousand job losses.

• Communications for Statistical Applications and Methods
• /
• v.15 no.2
• /
• pp.161-171
• /
• 2008

This study discusses Johnson's $S_U$-normal distribution capturing a wide range of non-normality in various regression models. We provide the likelihood inference using Johnson's $S_U$-normal distribution, and propose a likelihood ratio (LR) test for normality. We also apply the $S_U$-normal distribution to the binary and censored regression models. Monte Carlo simulations are used to show that the LR test using the $S_U$-normal distribution can be served as a model specification test for normal error distribution, and that the $S_U$-normal maximum likelihood (ML) estimators tend to yield more reliable marginal effect estimates in the binary and censored model when the error distributions are non-normal.

• Journal of Korean Society of Occupational and Environmental Hygiene
• /
• v.25 no.1
• /
• pp.1-12
• /
• 2015

Objectives: The major objectives of this study are to review the U.S. Standard which affected Korean worker's Right-to-Know Standard and to propose the way of improving the reliability of MSDS and labels. Methods: To review the U.S. Standard historically, we used the Federal Register, other criteria documentation and peer-reviewed literatures. Then we analysed major issues in the historical debatement on the worker's Right-to-Know Standard. Results: Korean MSDS Standard benchmarked the U.S. Hazard Communication Standard which finally established by President Reagan in 1983. Reagan's Hazard Communication Standard was aimed to preempt States Right-to-Know Acts for chemical industry and not to improve the awareness of workers on chemical hazards. Too much protection on trade secrets and low reliability of hazard information were key problems of the U.S. Standard. Conclusions: We recommend some ways to improve Korean MSDS and Label Standard. First, A new analysis frame is needed to understand the U.S Standard. Second, hazard identification is the key element of reliable information and chemical name and CAS number should be on the label of the container. Third, trade secrets should be limited to low hazardous substances and be permitted by government before the chemical product is on the market.