• Korea Trade Review
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• v.48 no.1
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• pp.83-126
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• 2023

The revenue histogram of venture businesses is shifting from bell-shaped normal distribution to power-law distribution, which implies that the fitness landscape of the venture businesses ecosystem is changing to be more rugged terrain. We argue that the firm should adopt both exploitation (fast follower) and exploration (or first mover) strategies not to get stuck in local maxima in the rugged fitness landscape from the complex system perspective. By designing and performing agent-based modeling simulation experiments which consist of three types of agents (new technologies, entrepreneurs, and consumers), we demonstrated that the ambidexterity strategy showed the highest performance score in three of four different environment except 'Fast Widening' case where the exploitation strategy showed the highest performance score under low technology appropriation and fast disruptive technology development speed. By investigating the financial and other statistics of 617 top venture businesses who have earned 100B won or higher annual revenue, we concluded that 82% and 9% of firms are bent on the exploitation and exploration strategy.

• Environmental and Resource Economics Review
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• v.18 no.1
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• pp.23-51
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• 2009

This research alms at quantifying economic impacts of free trading policy on environment-friendly fuel industry applying a static general equilibrium (CGE) model for Korea. Theoretically, 'polluters haven' hypothesis had been debated as major issue on the environmental effects of trade liberalization during 1970s and 1980s but recent literature emphasizes that production, scale, structural, and regulatory effects may derive rapid diffusion of environment friendly technologies. In this study, trade liberalization policy affects output of agricultural sectors negatively while that of biodiesel as environment-friendly technology positively. The rise m the output of biodiesel is derived from the reduction in import prices of agricultural products due to the abolishment of tariff. The policy implication from the analysis is that feedstock for producing biodiesel should be exploited in the foreign countries where productivity of agriculture is quite predominant compared to Korean agriculture.

• Korea Trade Review
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• v.44 no.3
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• pp.105-121
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• 2019

This study applies diverse game theories to the US-China Trade War. The US-China Trade War can be analyzed as a game situation because the strategic decision-making process to maximize one's profit while considering the reaction of the other party is a game situation. However, related research suffered from some mistakes in applying the US-China Trade War as it is to classic game theory, because while the prisoners dilemma is based on the situation of No Communication, No Trust, No Cooperation, the US-China Trade War has a precondition different from that of prisoners dilemma, since it mutually communicates information and negotiation is repeated several times in a cooperative situation. The result of the trade negotiation will likely end as 'cooperate-cooperate'. Further, considering trade volume, trade interdependence, bargaining power based on economy, and the scale of damage caused by the Trade War, the US-China Trade War is progressing with the bargaining power of the US being higher than that of China. Since the current US-China Trade War is in an asymmetrical situation under the dominant bargaining power of the US, it is likely to reach 'US defect-China cooperative' in the long run.

• Korea Trade Review
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• v.43 no.4
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• pp.155-175
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• 2018

This study estimates the technical efficiency and total factor productivity(TFP) of and analyzes the relationship between TFP and exports for Korean manufacturing companies from 2000 to 2016. Specially, TFP is decomposed into Technical Change(TC), Technical Efficiency Change (TEC), and Sale Effect(SE), and compared between large and small enterprises. First, in the case of technical efficiency, the Korean economy has been very vulnerable to external shocks, such as the sharp decline following the 2008 financial crisis. The efficiency of the electronics, automobile, and machinery sectors is low and needs to be improved. In addition, the technological efficiency of large enterprises is higher than that of SMEs in most manufacturing sub-sectors except for non-ferrous metals. In the case of TFP, most changes are due to TC, and the effective combination of labor, capital and the effect of scale have little effect, suggesting that improvement of internal structure is urgent. In addition, volatility due to the impact of the financial crisis in 2008 was much larger in SMEs than in large companies, so external economic impacts are more greater for SMEs than large enterprises. The relationship between TFP decomposition factors and exports shows that TC has a positive effect only on exports of SMEs. Therefore, in order to increase exports, in the case of SMEs, R&D support to promote technological development is needed. In the case of large companies, it is necessary to establish differentiated strategies for each export market, competitor company, and item to link efficiency and scale effect of exports.

• Journal of the Korean association of regional geographers
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• v.22 no.4
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• pp.792-808
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• 2016

Due to the high importance of foreign trade in the national economy, Korea has a lot of ports designated as trade ports compared to the small land size. However, because of the poor utilization results, some small trade ports have been criticized for wasteful financing due to redundant investment in SOC. This is because the characteristics and comparative advantage of foreign trade in trade ports have not been analyzed in detail by region. Therefore, this study analyzes the patterns and types of change in the size of trade, number of cargo items handled, and the number of trade target countries in the past 20 years for 19 domestic small trade ports using the time-series cluster analysis technique. As a result of analysis, Korean small trade ports were classified into five growth pattern types according to the analysis index, and characteristics and implications for each type could be derived. Today, as the foreign trade environment changes drastically and the importance of balanced regional development is emphasized, it is very important to study the growth types and implications of small trade ports and the results of this study are expected to provide meaningful implications for regional port development and operation in the future.

• Journal of Korea Port Economic Association
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• v.32 no.3
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• pp.21-33
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• 2016

This paper examines the effect of strategic trade policy on port ownership structures (nationalization or privatization) when two firms compete with each other in reciprocal markets. Furthermore, we analyze firms profits, port charges, ports profits and social welfare when ports are privatized or nationalized under tariff regime and under free trade regime respectively. Thus, we find that (i) under tariff regime, port nationalization is a dominant strategy regardless of transport costs. (ii) the effect of high port charges brings higher port profits than the effect of high trade volume. (iii) irrespective of trade regime, when transport cost is relatively low, port nationalization increases social welfare, while two government prefer free trade agreement to tariff regime when transport cost is sufficiently high regardless of port ownership structures.

• KDI Journal of Economic Policy
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• v.11 no.1
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• pp.3-30
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• 1989

본(本) 연구(硏究)에서는 원화(貨)의 평가절상(平價切上)이 산업별(産業別) 생산(生産), 가격(價格), 고용(雇傭), 무역(貿易) 등에 미치는 영향을 한국경제(韓國經濟)의 일반균형모형(一般均衡模型)을 통하여 분석하였다. 분석결과에 의하면 평가절상(平價切上)의 효과(效果)는 산업(産業)의 수요(需要), 공결탄성치(供結彈性値), 수출비율(輸出比率), 수입품과의 대체성(代替性), 부가가치비율(附加價値比率) 등 산업(産業)이 갖는 특성에 따라서 매우 상이(相異)하게 나타남을 알 수 있었다. 혁제품, 고무제품, 섬유 직물, 조선, 의복 등의 산업에서 생산감소효과(生産減少效果)가 큰 것으로 나타나고 있으며 석유제품, 철1차제품, 비철금속1차제품, 화학제품 등의 산업에서 가격하락효과(價格下落效果)가 큰 것으로 밝혀졌다.

• The Optical Journal
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• s.119
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• pp.20-23
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• 2009

산업연구원에서 발표한 ‘2009년 경제 산업 전망’에 따르면 우리나라의 2009년 경제성장은 세계경제 침체의 영향으로 작년보다 낮은 3.2% 내외의 성장이 전망된다. 수출은 세계경기 부진, 원자재가 하락에 따른 수출단가 상승세 둔화로 작년에 비해 증가세가 크게 둔화될 전망이며 수입은 수출보다 더 큰 폭으로 둔화될 것으로 보인다. 무역수지는 균형 내지 소폭 흑자가 예상된다. 2009년 산업분야에서 제조업 생산은 작년보다 크게 둔화될 전망이며 특히 IT 제조업은 내수부진이 심화되면서 증가세가 전년보다 둔화되겠지만 환율상승에 따라 원화 기준 수출 증강 힘입어 여타 업종에 비해 상대적으로 높은 증가율을 기록할 전망이다. 10대 주력업종의 수출은 4.4% 증가에 머물고 수입은 전년대비 0.4% 감소할 예정이다.

• Journal of the Korean Regional Science Association
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• v.35 no.1
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• pp.47-57
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• 2019

Daegu Metropolitan City has been continuously carrying out core functions of Yeongnam region, and especially plays a role as export base of textile and chemical products in Korea. Also Daegu Metropolitan City has contributed greatly to the expansion of Korea's import and export trade and the growth of the national economy. The purpose of this study is to analyze the influence of major factors affecting GRDP in Daegu Metropolitan City through regression analysis. For this purpose, this study uses the Vector Error Correction Model(VECM) to estimate the long-run equilibrium function that affects the GRDP in Daegu Metropolitan City. This study is meaningful in that it uses the statistics related to Daegu provided by Province of Gyeongsangbuk-do and explains the dynamic characteristics of major factors affecting the GRDP in Daegu.

• International Commerce and Information Review
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• v.19 no.4
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• pp.175-197
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• 2017

As a revision negotiation on the KORUS FTA has become a national pending issue, this study aims to analyze changes in the trade structure of Korean export industry before and after the KORUS FTA. For the analysis, this study used Market Comparative Advantage(MCA) and Intra-industry Trade(IIT) indexes. Results of the analysis are as follows: First, in analyzing the competitive and complementary relationships of export products using the MCA index, it was discovered that Korea has formed an export-oriented complementary relationship with the United States. Second, the results of analysing IIT showed that Korea has made a low-quality vertical IIT with the U.S. in some items while it has usually made a weak IIT with the U.S.. Based on the results above, this study proposes a few policy suggestions in the following areas: Improvement of competitiveness in trade-deficit service sector, achievement of the balance of profit and loss in goods and service sectors through the revision negotiation of the KORUS FTA, enhancement of competitiveness in competitive and comparative disadvantage items, reinforcement of ability to respond to consumption patterns in U.S. market, etc. in export-dominant items, and pursuit of horizontal-vertical division of labor in comparative advantage items and horizontal division of labor in comparative disadvantage items.