• Title/Summary/Keyword: unfair trade practices

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The Impact of Unfair Trade Restrictions on Corporate Behavior and Financial Performance of Pharmaceutical Companies: The Dual Punishment System in Korea

  • Kim, Hyun-jung;Noh, Jin-Won;Hong, Jin Hyuk;Kwon, Young Dae
    • International Journal of Contents
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    • v.12 no.4
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    • pp.76-82
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    • 2016
  • This study aims to evaluate the effectiveness of the dual-punishment system by analysis of the financial performance of pharmaceutical companies before and after introduction of the dual-punishment system. This study analyzed the business performance of 136 pharmaceutical companies from 2009 to 2011. The results from paired t-tests found that sales, operating cost, and EBITDA showed significant differences in performance, and, according to the variance analysis, the five groups obtained through a hierarchical cluster analysis differed from each other in sales, operating cost, EBITDA, and research and development cost. Differences in financial performance among the groups seem to be related to the strategy for response to the regulation. The introduction of the dual-punishment system is generally acknowledged to have had positive effects on the pharmaceutical industry. However, some companies appear to be continuing kickback practices.

A Study on the New Scheme for South Korea's Artwork Authenticity With a Review of the Overseas Art Distribution Dispute Setting System (해외 미술품 유통분쟁 해결제도를 통해 살펴본 국내 미술품 진본성 확보방안)

  • Rim, Sung Ryun;Byun, Seung Hyuk
    • Journal of Arbitration Studies
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    • v.30 no.1
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    • pp.199-215
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    • 2020
  • Compared to Korea's recently expanding art distribution market, the difficulty of securing the authenticity of art is hindering the healthy development and growth of the market. In this regard, the current situation of the emotional system in the UK and France's art distribution process are examined as excellent cases in foreign countries. In the UK, there is a full autonomous appraisal system by art experts without state intervention. In France, the judiciary and the administration of art have an appraisal system for art works, so the appraisal work has reliability and objectivity. Through the above system, this study suggests measures to strengthen transparency in art trade and to break unfair practices in order to secure the authenticity of the domestic art distribution market. In addition, this study proposes the establishment of a professional appraisal system and the improvement of administrative law regulations to explore the possibility of ensuring fairness through mediation through the example of an international arbitration body.

International Competition Order and Fairness Society for 21st Century: Focusing on the USA, EU, Japan, and Korea (21세기 국제경쟁질서와 공정사회의 고찰: 미국, EU, 일본, 한국을 중심으로)

  • Joo, Ro jong
    • International Area Studies Review
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    • v.16 no.1
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    • pp.123-146
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    • 2012
  • In this paper, we did on the new theory, policy, institution and legal research on the international competition order and justice society for 21st century. At first, we introduced the basic of competition law for fairness of trade in the new international market order under WTO. Secondly, we are researched on the economic approach of the competition law, market competition order and justice society in the new globalism. Third, we studied the international circumstance through the analysis of the patterns of the anti-competition practices and the regulation systems for competition order. We also reviewed the execution criteria and precedents of the fairness theory and competition laws in the USA, EU, Japan, and Korea, briefly. Finally, we presented to the alternative policies that based on our study about the new theory, policy, institution, competition law in opinion from reach the international market competition, fairness society and economic justice for 21st century under WTO.

Changes in Inequal Trading Practices due to Changes in Contents Production System (방송콘텐츠 제작방식 변화에 따른 불공정 관행 변화; 외주제작사 입장을 중심으로)

  • Roh, Dong-Ryul
    • The Journal of the Korea Contents Association
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    • v.17 no.5
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    • pp.540-551
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    • 2017
  • While the way broadcasting contents are made has changed drastically, some conflicts appear to remain unchanged. And they are about allegedly unfair practices. The whole arguments may even be deemed natural to a certain degree, considering the characteristics of the overall creative industry. But it needs to be highlighted the conflicts are being aggravated both in drama and non-drama production industries for different reasons. The drama side of the issue comes from how the project-based organizations are organized, and will be resolved if broadcasting companies do not send over their directors. On the other hand, the non-drama side's issues are about the complaints that outsourcing production companies have about the production cost. In general, due largely to the genre's relatively weak power to generate revenue, the producers do not get the upper hand when it comes to the negotiations over financial matters.

An Analysis of the Effects of Large-scale Retailer Operation Regulations on Agriculture and Fisheries (대형 유통업체 영업 규제가 농수산업에 미치는 영향 분석)

  • Kim, Dong-Hwan;Ryu, Sang-Mo
    • Journal of Distribution Science
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    • v.12 no.2
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    • pp.73-79
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    • 2014
  • Purpose - The Korean government has revised the distribution industry development law to regulate large-scale retailer operations to protecting medium- and small-scale retailers and traditional markets. According to the revised law, large-scale retailers must follow regulations on operating hours and compulsory store closures two days per month. Based on the revised distribution industry development law, most local governments regulate operation hours and they have adopted compulsory closure programs for large-scale retail stores. However, it is argued that fresh food producers suffer from a decrease in sales based on the compulsory closure of stores operated by large-scale retailers. Large-scale retailers reduce their fresh food orders from agricultural and fishery producers because of the compulsory store closures. Fresh food producers also suffer from a decrease in prices because reduced orders lead to a decrease in auction prices based on the availability of excess goods in wholesale markets. This paper investigates the effects of operation regulations for large-scale retailers on agricultural producers by surveying agricultural and fishery producer organizations. Research design, data, methodology - A survey was conducted on 117 producer organizations of fruits and vegetables, cereals, fisheries, and livestock products from September 10 to October 4, 2012. Survey items are annual sales, shares of sales accounted for by large-scale retailers, reduction of orders and prices from large-scale retailers, methods to deal with the sales reduction, unfair trade practices of large-scale retailers, opinion of the large-scale retailer regulations, and so on. The average sales of the sampled producer organizations are 13.7 billion won and the average share of sales accounted for by large-scale retailers is 35.4%. Results - Survey results show that the sample producer organizations' sales decreased 10.1% because of the compulsory closures of stores operated by large-scale retailers. It is estimated that the total sales of producer organizations decreased 371.2 billion won because of the regulations on the operation of large-scale retailers. In addition to the direct effect of a sales decrease due to order reduction, agricultural and fishery producer organizations suffered from the secondary effect of price reduction in wholesale markets. When orders from large-scale retailers decreased, most agricultural and fishery producer organizations shipped redundant products to wholesale markets, decreasing auction prices. It was estimated that the price received decreased 21.9% when sold in other marketing channels. As producer organization sales decreased, it was reported that the labor force employed by producer organizations also decreased by 15.1%. Therefore, we can conclude that the regulations for large-scale retailer operations resulted in negative impacts on agricultural producers. Conclusions - Although the sales reduction due to the regulations for large-scale retailer operations are not great, the cumulative effects due to the continued compulsory closure of stores operated by large-scale retailers could be great. This paper suggests governmental programs that could help agricultural producer organizations to find new and effective marketing channels such as direct marketing, farmers' markets, exports, Internet shopping, and so on.

A Contemplation on Measures to Advance Logistics Centers (물류센터 선진화를 위한 발전 방안에 대한 소고)

  • Sun, Il-Suck;Lee, Won-Dong
    • Journal of Distribution Science
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    • v.9 no.1
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    • pp.17-27
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    • 2011
  • As the world becomes more globalized, business competition becomes fiercer, while consumers' needs for less expensive quality products are on the increase. Business operations make an effort to secure a competitive edge in costs and services, and the logistics industry, that is, the industry operating the storing and transporting of goods, once thought to be an expense, begins to be considered as the third cash cow, a source of new income. Logistics centers are central to storage, loading and unloading of deliveries, packaging operations, and dispensing goods' information. As hubs for various deliveries, they also serve as a core infrastructure to smoothly coordinate manufacturing and selling, using varied information and operation systems. Logistics centers are increasingly on the rise as centers of business supply activities, growing beyond their previous role of primarily storing goods. They are no longer just facilities; they have become logistics strongholds that encompass various features from demand forecast to the regulation of supply, manufacturing, and sales by realizing SCM, taking into account marketability and the operation of service and products. However, despite these changes in logistics operations, some centers have been unable to shed their past roles as warehouses. For the continuous development of logistics centers, various measures would be needed, including a revision of current supporting policies, formulating effective management plans, and establishing systematic standards for founding, managing, and controlling logistics centers. To this end, the research explored previous studies on the use and effectiveness of logistics centers. From a theoretical perspective, an evaluation of the overall introduction, purposes, and transitions in the use of logistics centers found issues to ponder and suggested measures to promote and further advance logistics centers. First, a fact-finding survey to establish demand forecast and standardization is needed. As logistics newspapers predicted that after 2012 supply would exceed demand, causing rents to fall, the business environment for logistics centers has faltered. However, since there is a shortage of fact-finding surveys regarding actual demand for domestic logistic centers, it is hard to predict what the future holds for this industry. Accordingly, the first priority should be to get to the essence of the current market situation by conducting accurate domestic and international fact-finding surveys. Based on those, management and evaluation indicators should be developed to build the foundation for the consistent advancement of logistics centers. Second, many policies for logistics centers should be revised or developed. Above all, a guideline for fair trade between a shipper and a commercial logistics center should be enacted. Since there are no standards for fair trade between them, rampant unfair trades according to market practices have brought chaos to market orders, and now the logistics industry is confronting its own difficulties. Therefore, unfair trade cases that currently plague logistics centers should be gathered by the industry and fair trade guidelines should be established and implemented. In addition, restrictive employment regulations for foreign workers should be eased, and logistics centers should be charged industry rates for the use of electricity. Third, various measures should be taken to improve the management environment. First, we need to find out how to activate value-added logistics. Because the traditional purpose of logistics centers was storage and loading/unloading of goods, their profitability had a limit, and the need arose to find a new angle to create a value added service. Logistic centers have been perceived as support for a company's storage, manufacturing, and sales needs, not as creators of profits. The center's role in the company's economics has been lowering costs. However, as the logistics' management environment spiraled, along with its storage purpose, developing a new feature of profit creation should be a desirable goal, and to achieve that, value added logistics should be promoted. Logistics centers can also be improved through cost estimation. In the meantime, they have achieved some strides in facility development but have still fallen behind in others, particularly in management functioning. Lax management has been rampant because the industry has not developed a concept of cost estimation. The centers have since made an effort toward unification, standardization, and informatization while realizing cost reductions by establishing systems for effective management, but it has been hard to produce profits. Thus, there is an urgent need to estimate costs by determining a basic cost range for each division of work at logistics centers. This undertaking can be the first step to improving the ineffective aspects of how they operate. Ongoing research and constant efforts have been made to improve the level of effectiveness in the manufacturing industry, but studies on resource management in logistics centers are hardly enough. Thus, a plan to calculate the optimal level of resources necessary to operate a logistics center should be developed and implemented in management behavior, for example, by standardizing the hours of operation. If logistics centers, shippers, related trade groups, academic figures, and other experts could launch a committee to work with the government and maintain an ongoing relationship, the constraint and cooperation among members would help lead to coherent development plans for logistics centers. If the government continues its efforts to provide financial support, nurture professional workers, and maintain safety management, we can anticipate the continuous advancement of logistics centers.

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