• Journal of Korea Trade
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• v.25 no.1
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• pp.89-111
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• 2021

Purpose - The U.S. Trade Preference Expansion Act (TPEA) of 2015 enables the US Department of Commerce (DOC) to inflate dumping margin when the particular market situation (PMS) exists in the exporter's home market. DOC applied PMS provisions to the steel products from Korea. This paper analyzes whether DOC's calculation by using the regression analysis is consistent with WTO rules. Design/methodology - This paper analyzes the PMS application in law and regression analysis that extends the data period from 10 years to 18 years using the same economic model with DOC, and changes the country group according to the quantities of steelmaking capacity. Findings - Results show that DOC's argument conflating the sales-based with cost-based PMS designed to inflate dumping margins might not be consistent with WTO Antidumping Agreement Article 2.2 and 2.2.1.1 in which costs shall normally be calculated on the basis of records kept by the exporter, providing generally accepted accounting principles and reasonably reflection of the costs and PMS that exists in the Korean steel product markets. Even if it will be consistent, DOC's calculated margin by the regression analysis using a 10-year data is a big gap (5 times) compared with an 18-year data projection and different countries' data through the same methodology, which is a huge gap of regression coefficient. It means that dumping margin would be very wide range from 7.8% to 38.54% and unstable to calculate. Inflating dumping margin by DOC using regression analysis would not only be inconsistent with WTO rules, but also projection result is unreliable. Originality/value - Literature papers have mainly analyzed WTO law itself. This paper however, would be the first attempt to analyze the DOC's new way of dumping margin calculation in both manners of law and an empirical methodology perspective at the same time.

• Journal of Korea Trade
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• v.23 no.7
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• pp.147-155
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• 2019

Purpose - As the U.S.-China trade war has become considerably worse, the Chinese government is considering applying non-tariff barriers to trade, especially local contents rule. The main purpose of this research is to check whether it is suitable for Korean investors to invest in the current Chinese capital market. Design/methodology - In order to check the stability of the recent Chinese capital market, we investigated the behavior of foreign equity investment (including Korean equity investment) in the Chinese capital market after China announced the Shanghai-Hong Kong Stock Connect (SH-HK Connect). In this paper, we researched whether international portfolio investment would or would not contribute to an increase the volatility of an emerging market's stock market (Chinese capital market) when foreign investors make investment decisions based on the objective of short-term gains by rushing into countries whose markets are booming and fleeing from countries whose markets are falling. Findings - The empirical results indicate that foreign investors show strong, negative feedback trading behavior with regard to the stock index of the Shanghai Stock Exchange (SSE), and when the performance of foreign investors in the Chinese stock market was fairly good. Also, we found evidence that the behavior of foreign investors significantly decreased volatility in SSE stock returns. Consequently, the SH-HK Connect brought on a win-win effect for both the Chinese capital market and foreign investors. Originality/value - It appeared that the Chinese capital market was very suitable for Korean investors after the China's declaration of the SH-HK Connect. However, the win-win effect was brought on by the Chinese government's aggressive capital control but the capital controls could possibly cause financial turmoil in the Chinese capital market. Therefore, Chinese reform in industrial structure and the financial sector should keep pace with suitable capital control policies.

• The Journal of Fisheries Business Administration
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• v.53 no.3
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• pp.1-15
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• 2022

The global cod market is supposed to have weak structure with a high dependence on the supply of Russia, the United States, Norway, and China. The COVID-19 pandemic has significantly disrupted the cod supply chain for the worse. Fish processing facilities in China stopped their operation, and cod demand declined due to shrinking consumption in Europe. The position of South Korea as an intermediary trade country between Russia and China strengthened due to the U.S.-China trade war and the Atlantic cod decrease in 2019. However, this global cod supply chain collapse has caused South Korea to export accumulated cod to Indonesia and Vietnam at a bargain price, showing that South Korea was unable to cope with this supply chain crisis. The primary purpose of this study is to investigate changes in the global cod supply chain and their impacts on the intermediary trade of South Korea caused by the COVID-19 pandemic. It also aims to provide implications by analyzing advanced cases in Denmark. As the cod supply chain crisis countermeasures, this study suggests that South Korea develop high value-added marine products, gain competitive advantages by solidifying the value chains of related countries, and activate export by discovering alternative markets in terms of the supply chain of the cod industry.

• Journal of Arbitration Studies
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• v.23 no.3
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• pp.61-80
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• 2013

The U.S. Supreme Court delivered a decision on the case between AT&T and Concepcion, which confirmed the contractuality of a defense as a threshold to distinguish between what is a viable defense for invalidation of consumer arbitration agreement and what is not. In this paper, the adhesiveness of arbitration clause, which is a unique character for consumer arbitration, is investigated in the U.S. as a legal defense to invalidate the consumer arbitration agreements, and its contractuality and related legal doctrines are analyzed. The legal issues of consumer arbitration have been analysed in several legal perspectives including the voluntary, knowing and intelligent doctrine, doctrine of separation, contract of adhesion and the contractuality of defenses. Among all of these, the first three issues are related with arbitration clause, and the last one, the contractuality of defenses, reflects the nature of defenses invalidating the consumer arbitration agreement.

• Journal of Contemporary Eastern Asia
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• v.20 no.2
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• pp.237-258
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• 2021

The COVID-19 pandemic has highlighted the risks of an over-concentration of supply chains in one country. It has motivated stakeholders to pursue diversification strategies. However, a paradox exists. Stakeholders have shied away from a complete decoupling and preferring to selectively enhance economic ties with China. This article explores this paradox by examining supply chain concentration in China as a form of asymmetric interdependence and the countermeasures from the U.S., Japan, Australia, and India to minimize vulnerabilities. It argues that while the COVID-19 disruptions have brought to light the risk of supply chain overconcentration in China, countermeasures are also driven by coercive diplomacy and the deepening U.S.-China rivalry. The paper also examines the feasibility of diversification efforts by focusing on the capacity and capabilities of alternative supply chain hubs. It finds that while states are actively seeking ways to prevent China from using asymmetric interdependence of supply chains and trade to gain political leverage, there are structural limits to the degree of diversification in the short to mid-term.

• International Commerce and Information Review
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• v.3 no.1
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• pp.225-240
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• 2001

미국과 싱가포르는 모두 세계에서 가장 우수한 기업 경영환경을 제공하는 국가이다. 그러나 미국이 자유방임형이라고 한다면 싱가포르는 철저하게 계획형이라는 점에서 다르다. 따라서 본 연구에서는 미국과 싱가포르의 전자무역 지원정책의 사례를 분석하고, 상호비교를 통해 우리 나라 전자무역 지원정책에 대한 시사점을 파악하였다. 본 연구의 가장 큰 시사점은 전자무역의 활성화가 기본적으로 민간의 적극적인 참여로 이루어져야 한다는 것이다. 정부의 역할은 주도적인 입장이 아닌 철저한 지원자의 입장에서 수행되어야 한다. 정부가 거래알선 및 e마켓플레이스 등 전자무역의 핵심적인 활동에 직접적으로 관여하기보다는 관련된 민간기업을 육성하고, 기업들의 전자무역 수행능력을 제고시키며, 기업의 전자무역 활동이 원활하게 이루어질 수 있도록 전자무역 인프라의 확충에 정책의 초점을 맞추어야 한다는 점이다. 향후 전자무역 촉진을 위한 주요 정책의 방향으로 전자무역에 대한 기본적인 인식을 제고 할 수 있는 홍보활동 강화, 전자상거래 지원기관과 전통적인 무역지원기관들의 연계 및 산학연계 활동의 촉진을 통해서 중소 기업에 대한 실질적인 전자무역의 지원, 전자무역 관련 전문인력의 체계적인 양성, 무역 관련 공공정보시스템의 개선 등이 제시될 수 있다.

• International Commerce and Information Review
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• v.12 no.2
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• pp.85-107
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• 2010

A comprehensive electronic trade portal such as the electronic bills of lading, e-negotiations and so on, is developed by the Korea Ministry of Knowledge Economy and International Trade Association and serviced by KTNET. The portal, so called u-TradeHub, formally started to provide its services on 22nd May, 2009. If the shipper issues electronic bills of lading, the negotiating bank examines it through the established e-Nego system. However, the issuing bank overseas cannot examine the electronic bills of lading, because any interactive system does not exist. So, after the e-Nego, the electronic bills of lading gets automatically transformed into the paper-type electronic bills of lading and issuing bank examine paper B/L. In process of examining documents, the beneficiary using electronic means in letter of credit transactions may face some risks such as the corruption to the electronic bill of lading after its issuance by the carrier, the corruption after e-Nego and the corruption after the presentation to the issuing bank. In this paper, we studied the problems on corruptions to occur in the middle of the examination process of the electronic bills of lading and suggestions how to solve them are discussed.

• Environmental and Resource Economics Review
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• v.17 no.3
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• pp.31-59
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• 2008

This paper is intended to analyze the toxic substances transmission between South Korea and U.S. through international trade, based on 2000 international input-output data and both country's toxic substances. According to result, The high TEI sectors are metal, chemical and general machinery in Korea, and the high TEI sectors of America are electric & electronics, Chemicals, Rubber and Plastics. Korea's export structure to America is more pollutant than America's export structure to Korea.

• Korea Trade Review
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• v.44 no.3
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• pp.253-269
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• 2019

This study examines the utilization effect of FTA on the sales and profit of the secondary auto-part suppliers in two aspects: 1) firm-level survey on the utilization of FTA and 2) statistical inference on the FTA effects on their sales and profit. We use the GLS statistical technique, panel and survey data of 130 secondary auto-part suppliers in the Daegu and Kyungpook area in 2007-2016. The evidence shows that the secondary auto-part suppliers struggle to prepare documents for the FTA certificates of origin due to their small firm size, although they utilize the FTA at the relatively high rate of 92 percent. Statistical evidence shows that an increase in the export of the first vender significantly affects the sale of the secondary auto-part vendors, but not their profit. The low profit and high managing cost of utilizing the FTA deteriorate the utilization effect of the FTA of the secondary auto-part vendors, which is a key factor in a global supply chain and for the competitiveness of the automobile industry. Government policies are required for the secondary auto-part suppliers to utilize the FTA more effectively and share the benefits of tariff reduction with first auto-part vendors under FTA transaction.

• Korea Trade Review
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• v.43 no.2
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• pp.69-86
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• 2018

The paper studies the degree of international price dispersion for 300 individual goods and services between cities of three country groups over 1999 and 2013, focusing on the role of oil prices in generating deviations from the law of one price. We find that while oil prices did not contribute to the trend in cross-country price dispersion, it does account for within-country price dispersion. Once the oil price effect is subtracted out, the remaining price dispersion between U.S. cities no longer exhibits a noticeable upward trend. If oil prices increase transportation costs, they should increase the deviations from the law of one price, raising price dispersion. Our findings indicate that this effect is more pronounced within a country, while factors such as elasticity of substitution and other trade barriers are likely to matter more in price dispersion across borders. We view our results as complementary to those that emphasize the role of time-varying factors in accounting for price dispersion.