• Asia-Pacific Journal of Business
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• v.9 no.4
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• pp.85-97
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• 2018

This paper investigates factors underlying a decrease in trading values in KOSPI 200 futures/options market on the basis of the current state of the markets. Among the factors that could affect trading values in KOSPI 200 derivatives market, we focus on the market activity of underlying assets as it has an impact on the trading of financial derivatives. Trading value and volatility are designated as market activity and the empirical results confirm that the market activity of the underlying assets is significant in explaining the decrease in trading values in KOSPI 200 futures/options market. To figure out fundamental reasons of the decrease in trading values in this market, we examine mitigation of home bias and decrease in leverage incentives as they are presumed to have influence on KOSPI 200 index market. As the global and local financial environment is time-varying, the degree of home bias and the leverage demand also changes. It implies that institutional change and/or policy effort to promote the trading of KOSPI 200 financial derivatives should be made taking into account the fact that considerable portion of the change in trading values in financial derivatives market depends on the state of the market.

• Proceedings of the Korean Society of Computer Information Conference
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• 2019.01a
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• pp.189-190
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• 2019

본 연구에서는 명절이 소비자들의 제품 교체주기에 영향을 미치는지를 탐색하기 위해 중국 온라인 휴대폰 판매 데이터를 바탕으로 명절 시기별 구매간격 차이검증을 통해 실증적으로 분석하고자 하였다. 분석결과, 명절시점과 평상시점 간에 제품 구매간격의 차이가 있는 것으로 나타났다. 즉, 명절시점이 평상시점보다 제품 교체주기가 짧은 것으로 나타나 명절효과가 있음을 증명하였다. 한편, 춘절, 노동절, 국경절 등 명절유형 간 제품 구매간격의 차이는 나타나지 않았다. 이는 기업이 명절시점을 활용하여 교체 가능성이 높은 소비자를 선별적으로 공략한다면 더 높은 성과를 얻을 수 있음을 시사한다. 본 연구의 결과는 실무적으로 볼 때 기업으로 하여금 교체확률이 높은 시기에 마케팅을 집중할 수 있도록 할 수 있을 것이며, 학술적으로는 제품 구매 간격에 영향을 미치는 구매시점 효과 중 명절효과를 온라인상의 고관여 제품에 적용하여 탐구했다는 공헌점이 있다.

• Journal of Korea Port Economic Association
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• v.39 no.1
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• pp.101-114
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• 2023

With the development of information and communication technology and the growth of e-commerce, the scale of international B2C transactions is expanding, and the scale of overseas direct purchase through online platforms will grow further in the future. However, with the growth of overseas direct purchase, the scale of illegal income is also growing, causing social problems. Under the current Customs Act, if a purchasing agent falsely provides a customs value and a shortage of tax occurs, the purchasing agent and the consumer, the shipper at the time of import declaration, are jointly and severally liable for tax payment. enemy improvement is needed This study proposed opinions on the problem of consumer damage caused by purchasing agents and institutional improvement in the Customs Act to solve it.

• Environmental and Resource Economics Review
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• v.18 no.4
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• pp.587-635
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• 2009

The purpose of this study is to develop the Global Dynamic Computable General Equilibrium Model (Global CGE Model) in order to produce an economic impact analysis, including prospective obligations for the Post-2012 regime. This model explores the impact of an international emissions trading market and macroeconomic variables such as GNP, consumption, investment, imports and exports, in accordance with potential increased obligations on the Republic of Korea. Distinguishing it from existing studies, this Global CGE Model divides the global community into major economic groups, and in the capacity of the analyzed global model, reflecting the principle nations' macroeconomic indicators through the theoretical approach of endogenous growth theory. Policies such as an emissions trading scheme and carbon tax are reflected in the model. Also, in particular, the model reflects exogenous technological advances. According to this analysis, the stronger the greenhouse gas reductions, the greater the adverse effects on the economy; among macroeconomic indicators that appear, a significant decline is realized in the balance of trade, along with a significant decrease in investment and consumption. Energy dependence, in particular, plays a large role-varying in degree by industry type-, as greenhouse gas reductions would have a greater impact on energy-intensive industries. Furthermore, if Korea, currently recognized as a developing country, is given the obligation to reduce greenhouse gas emissions, competing countries such as China and other developing countries will be given an advantage.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.11 no.11
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• pp.4296-4309
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• 2010

Globally Integrated Enterprise(GIE) has recently emerged as a popular concept in multinational enterprises(MNEs). In this paper, we use the AAA triangle in order to explain the degrees of adaptation, aggregation and arbitrage in IBM, P&G and NOKIA. The AAA triangle provides a basis for understanding GIE on the topic. This research also examines IT collaboration in order to provide practical guidance for implementation of AAA triangle. From the case study, several results are derived. First, we suggest a step-by-step approach for GIE to enhance global value creation with a situation. Second, we emphasize the importance of IT collaboration in process of introducing the AAA strategies. We believe that the issues we have raised in this paper will be useful to MNEs. In terms of the AAA triangle, this would be best thought of as a lateral shift to a new area of business, where the organization would have more of a competitive advantage.

• Journal of Intelligence and Information Systems
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• v.27 no.4
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• pp.73-95
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• 2021

This study uses Node2vec graph embedding method and Light GBM link prediction to explore undeveloped export candidate countries in Korea's food and beverage industry. Node2vec is the method that improves the limit of the structural equivalence representation of the network, which is known to be relatively weak compared to the existing link prediction method based on the number of common neighbors of the network. Therefore, the method is known to show excellent performance in both community detection and structural equivalence of the network. The vector value obtained by embedding the network in this way operates under the condition of a constant length from an arbitrarily designated starting point node. Therefore, it has the advantage that it is easy to apply the sequence of nodes as an input value to the model for downstream tasks such as Logistic Regression, Support Vector Machine, and Random Forest. Based on these features of the Node2vec graph embedding method, this study applied the above method to the international trade information of the Korean food and beverage industry. Through this, we intend to contribute to creating the effect of extensive margin diversification in Korea in the global value chain relationship of the industry. The optimal predictive model derived from the results of this study recorded a precision of 0.95 and a recall of 0.79, and an F1 score of 0.86, showing excellent performance. This performance was shown to be superior to that of the binary classifier based on Logistic Regression set as the baseline model. In the baseline model, a precision of 0.95 and a recall of 0.73 were recorded, and an F1 score of 0.83 was recorded. In addition, the light GBM-based optimal prediction model derived from this study showed superior performance than the link prediction model of previous studies, which is set as a benchmarking model in this study. The predictive model of the previous study recorded only a recall rate of 0.75, but the proposed model of this study showed better performance which recall rate is 0.79. The difference in the performance of the prediction results between benchmarking model and this study model is due to the model learning strategy. In this study, groups were classified by the trade value scale, and prediction models were trained differently for these groups. Specific methods are (1) a method of randomly masking and learning a model for all trades without setting specific conditions for trade value, (2) arbitrarily masking a part of the trades with an average trade value or higher and using the model method, and (3) a method of arbitrarily masking some of the trades with the top 25% or higher trade value and learning the model. As a result of the experiment, it was confirmed that the performance of the model trained by randomly masking some of the trades with the above-average trade value in this method was the best and appeared stably. It was found that most of the results of potential export candidates for Korea derived through the above model appeared appropriate through additional investigation. Combining the above, this study could suggest the practical utility of the link prediction method applying Node2vec and Light GBM. In addition, useful implications could be derived for weight update strategies that can perform better link prediction while training the model. On the other hand, this study also has policy utility because it is applied to trade transactions that have not been performed much in the research related to link prediction based on graph embedding. The results of this study support a rapid response to changes in the global value chain such as the recent US-China trade conflict or Japan's export regulations, and I think that it has sufficient usefulness as a tool for policy decision-making.

• Journal of Venture Innovation
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• v.2 no.2
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• pp.31-46
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• 2019

Materials and Parts acts as the bridge in the manufacturing industry. In 2018, the materials and parts industry became the leading industry in Korea as its export reached $316.2 billion, accounting for 52.3 percent of the country's total exports. As such, it is the main industry of Korea leading the trade surplus, but when it comes to Japan, it is not. The trade deficit with Japan shrinks to $24 billion last year but the materials and parts industry still accounts for 60 percent of total deficit, which is about $15.1 billion. Today Japan has the top competitiveness in the high-tech materials and parts industry and the factors can be found in cooperation and symbiosis among companies, monotsukuri spirit, and long-term government policy. In order for Korean economy to pursue the Japan's high-tech materials and parts industry, the following change of perception is necessary. First, the material and parts industry requires win-win cooperation. In general, materials and parts are intermediate products. Therefore, it is important to understand the characterist that the transactions are all made up between companies not the with consumers. Second, expansion of joint technology development is absolutely necessary. South Korea is a leading country in the field of general-purpose materials and parts. However, the research shows that South Korea has structure which small and medium-sized companies could have difficulties in developing high-tech products as finding demand and developing market are hard due to low participation of large corporations at R&D stage. It is necessary for large corporations to participate in joint R&D and share opinions of customers from the beginning stage of R&D. Third, a long-term approach is needed. Structural vulnerabilities in the Korea's materials and parts industry, including the lack of advanced technologies is the main reason of solidification of Korea's trade deficit with Japan but there are also cultural differences about technology in the background. Even if it takes time, a long-term approach is absolutely necessary to build up technology and know-how in order to secure competitiveness in the high-tech materials and parts industry. This approach applies to act of corporation and government policy.

• Korea Trade Review
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• v.48 no.1
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• pp.243-261
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• 2023

This study was conducted with the goal of analyzing the needs of Truckers, who are the main users of the cargo transportation platform, to find a development direction for the improvement and activation of the cargo transportation platform service. For this purpose, this study conducted an empirical analysis through IPA analysis targeting Truckers using domestic cargo transportation platforms. As a result of the IPA analysis, in the case of importance, fair fare presentation, unfair trade prevention measures, transportation payment deadline accuracy, transportation section information provision accuracy, quick interaction, application system quality, ease of use, user-customized service, settlement service support function, Variety of transportation sections, brand image, and additional services were shown in order. In the case of satisfaction, ease of use, settlement service support function, transport section information provision accuracy, application system quality, brand image, additional services, user-customized service, transport section diversity, quick interaction, transport payment deadline accuracy, unfair transaction prevention Measures and fair fares were presented in that order. The analysis results show high satisfaction with the ease of use related to the platform quality and the function to support the settlement work. These results can be seen as the result of a significant investment in system quality improvement for the convenience of users by suppliers in the domestic cargo transportation platform industry, where competition has become fierce. As the factors most urgently needed for improvement, 'observance of payment deadlines', 'prevention of unfair trade', and 'provision of fair fares' were selected, and these are related to chronic problems in the domestic freight transportation industry.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.54
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• pp.145-166
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• 2012

This article examines the limitations of the choice of law caused by Internationally Mandatory Rules in Entering into the Turn-Key Contracts. In June 2007, Clough Engineering, a corporation based in Western Australia, approached the Federal Court of Australia seeking injunctive relief and leave to commence proceedings against an entity located outside Australia, the Oil & Natural Gas Corp of India (ONGC). Clough had contracted with ONGC to provide a range of services in relation to the construction of gas and oil wells off the coast of India. The contract was governed by Indian law, and included a clause by which the parties agreed to submit their disputes to arbitration. Yet the Federal Court assumed jurisdiction over the dispute, principally because Clough had framed its claim as a plea for relief for contraventions of Australia's Trade Practices Act 1974. The result of this cases that it is possible for an arbitral tribunal to hear a claim made under the Trade Practices Act even if that claim arises "in connection with"a contract the proper law of which is not the law of Australia. However, in Transfield Philippines Inc v Pacific Hydro Ltd, the turnkey contract included a choice of law provision, selecting the law of the Philippines, and a clause providing that all disputes arising out of or in connection with the agreement were to be arbitrated under the ICC Rules, with the seat in Singapore. Hearings were in fact conducted in Melbourne, Australia, although all awards were published in Singapore. The result of this cases that it would not be appropriate for an Australian court to adjudicate claims for misrepresentation under Australian statutes dealing with misleading and deceptive conduct, once the arbitral tribunal had determined, applying appropriate choice of law rules, that such claims are governed by the law of the Philippines. To do so would lead to a multiplicity of proceedings, usurp the jurisdiction of the tribunal and deny the intention of the parties as expressed by them in the arbitration agreement. In short, the Internationally Mandatory Rules as an active part of public order create limitation of party autonomy in choice of law rules in a different way. The court is fully entitled to refuse to use those rules of law applicable on the contract which are in the contradiction to the internationally mandatory rules of law of the forum. And the court may give an effect to those Internationally Mandatory Rules that form a part of a law of foreign country when deciding about applicability of certain rules of applicable law.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.42
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• pp.33-66
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• 2009

Common law makes a distinction between partial breach and material breach. Attempted definitions of material breach are notoriously unsatisfactory, and the concept of partial breach does not necessarily bear an inverse relationship to substantial performance. This study will review the basic structure of common law contract remedies together with how these remedies are reflected in UCC Article 2 for sale of goods contracts. The matter is complicated because availability of remedy depends on the seriousness of the breach, and the right to cure, and (for sale of goods) these in turn depend on whether the contract is an installment contract or a single performance contract. Common law jurisdictions relegate specific performance of contracts to a last place in the hierarchy of contract remedies. Common law lawyers should recognize that this is the result of historical accident and not the product of some kind of superior intellectual effort. Not only is the attitude of civil law systems toward specific performance quite different, but for international sales contracts in developing nations, a remedy system based on the notion that substitute contracts are readily available(and therefore damage remedies are appropriate) is unrealistic. English common law courts were largely restricted to remedies in the form of monetary damages. For that reason the primary contract remedy at common law has never been specific performance. Rather, common law courts have struggled to develop an appropriate measure of monetary damages for breach of contract. Today, specific performance is viewed as an equitable remedy rather than common law. In the United States the dual court system has been abolished by a merger of law and equity courts into a single court structure. However some historical distinction linger on. The most important is that jury trials are generally not available in actions that seek equitable relief. If a plaintiff seeks in personam relief, such as specific performance of a contract, the action will be viewed as equitable and there will be no entitlement to a jury. Further, equitable relief will be granted only in those situations where the plaintiff pleads and proves that the remedy at law is inadequate. The purpose of this study aims to analyze the remedy system of breach of contract of U.K. and U.S. in the international commercial transactions with criterion of commercial rationality.