• 무역학회지
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• 제47권6호
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• pp.21-37
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• 2022

This study sought to look at why Facebook and Twitter, which have dominated the social media market, are moving away from other services. To this end, we sought to identify the causes of churn in terms of firm-level strategic direction and resource allocation, which have not been actively presented to the studies. For this purpose, this study divides the social media firm's strategies into horizontal expansion strategy and vertical integration strategy based on the existing reports and researches, and how each of the representative firms' strategies affects users' switching behavior. As a result, there was a significant difference in the strategic direction of the social media firm, when a horizontal expansion strategy is taken, user's switching intention is higher than when a vertical integration strategy is taken. In addition, the switching intention according to the level of dependence showed that the lower the dependence on social media, the higher the intention to switch to other media. The findings are expected to provide highly realistic and concrete strategic alternatives for a variety of economic actors, such as individuals and companies who want to do business using social media.

• 무역학회지
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• 제47권2호
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• pp.31-46
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• 2022

The purpose of this study is to measure the degree of discrepancies in the bilateral trade data between South Korea and its five major trade partners and to identify the key factors causing the discrepancies. By analyzing statistics based on the CIF/FOB ratio estimation and taking into consideration the trade flow via Hong Kong, the study finds that the discrepancies in South Korea's trade data with the US, Vietnam, and Japan are insignificant. In case of Hong Kong, however, the value of South Korea's import from Hong Kong is extensively inconsistent with Hong Kong's export to South Korea(i.e. the mirror data) while the value of South Korea's export to Hong Kong generally corresponds to its mirror data. Such discrepancies are caused by differences in recording re-exports, which are often found in the trade flow via entrepôt economics including Hong Kong. Meanwhile, discrepancies in reported bilateral trade flows between South Korea and People's Republic of China(PRC) remain relatively marginal. The discrepancy of statistics between South Korea as the exporter and PRC as the importer is mainly caused by the trade flow via Hong Kong. On the other hand, the discrepancy of statistics between South Korea as the importer and PRC as the exporter is assumably due to the differences in attribution of trade partners.

• 무역학회지
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• 제47권4호
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• pp.161-176
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• 2022

Most companies are achieving economic benefits by producing products in the form of bi-national products, but there are also negative consequences such as reduced brand power, so strategic bi-national product planning and branding is essential. In order to actively reflect these practical needs, this study conducted a comprehensive and easy-to-generalize evaluation of Bi-national products that has been somewhat underdeveloped in previous studies. To this end, the selection and evaluation criteria of the products to be investigated were differentiated. This is to classify the products by place of use and the purpose of use so that the majority of bi-national products can be included, and then use the combination to derive the specific products to be evaluated for bi-national products. The evaluation of the product identified the phenomenon of psychological conflict among consumers due to the country of origin discrepancy at the level of decreasing brand authenticity. The above research design is an evaluation method that can encompass bi-national products as a whole, rather than an evaluation of a specific product or product line that is mainly reported in previous studies, and it is also very easy to apply to practice because it allows us to more carefully identify changes in psychological attitudes.

• 무역학회지
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• 제47권3호
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• pp.1-16
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• 2022

The purpose of this study is to analyze how Korea's exports amount changed due to COVID-19 and what factors played a role in these changes. We analyze Korea's exports with 40 countries around the world. In analyzing the impact of COVID-19, we estimate the gravity model using international trade data for five years from 2015 to 2019 and and compare the results with those for 2020. Several factors such as mortality, quarantine intensity, industry characteristics are considered for the analysis. The following results were obtained. First, as a whole, exports of Korea decreased significantly to countries with strong containment measures. In addition, Korea's exports (increase further) or decrease less to countries with a large number of deaths and confirmed cases in importing countries. Second, these results were similar in the major industries, classified by HS two units. Exports to countries with strong containment decreased a lot while exports decreased less to the countries with severe COVID19 (based on the number of deaths or confirmed cases). Third, however, different results were obtained in the analysis of reagents and vaccines, which are detailed items directly related to COVID-19. Rather, the degree of containment does not matter for these items, and it seems that Korea exported more to countries to more severe Corona countries.

• 무역학회지
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• 제47권4호
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• pp.233-254
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• 2022

Although there is growing literature evidence of linkages between global value chains (GVCs) and foreign direct investment (FDI), the results are mixed and ambiguous by geographic dimension, time period and sectoral scope. Moreover, bilateral approaches on these connections have been rarely analyzed. In this context, we investigate the effect of bilateral greenfield FDI and cross-border M&A on GVC linkages between host countries and source countries. We match three-year averages of bilateral FDI and UNCTAD-Eora GVC value-added data from 2005 to 2019 between 37 OECD sources and 176 host countries (37 OECD versus 139 non-OECD countries). In the structural gravity model, the empirical specification includes bilateral and country-period fixed effects and uses a Poisson Pseudo-Maximum Likelihood (PPML) estimator. We find that greenfield and M&A FDI promote forward and backward GVC linkage for all sectors between OECD countries, whereas greenfield FDI promotes backward GVC linkage between OECD and non-OECD countries. In addition, the results indicate that the degree of influence of GVCs by FDI flows is greater for forward GVC than backward GVC among OECD countries.

• 무역학회지
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• 제46권6호
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• pp.127-142
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• 2021

The Pohang Youngilman Port is the only international trade port in the Daegu-Gyeongbuk region, but its cargo throughput has been stagnated since its opening. Finding out ways to revitalize the port has been a big issue in the region, taking its potential business effects on the surrounding areas into consideration. This study, therefore, aimed to critically evaluate the government policies and empirically analyze business environments of the Pohang Youngilman Port as a fundamental to reach solutions for its revitalization. The policy evaluation showed that there are discrepancies in viewing contexts, implementations and mechanisms of the port at each government level, which resulted in implementing various but inconsistent solutions. Also, the interview results were analyzed to point out the fundamental problems, such as limited cargo volume due to weak hinterland development, lack of shuttle shipping between Busan New Port and Pohang Youngilman Port, and lack of large shippers to diverse the shipping network. This study has academic and managerial implications in suggesting measures for facilitation of the Pohang Youngilman Port by amalgamating various viewpoints of governments and stakeholders, which can be used for policy development as well as practical solutions for the port.

• 무역학회지
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• 제45권2호
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• pp.211-228
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• 2020

The purpose of this study aims to analyze the comparative effects of luxury consumption behavior for Chinese consumers. Many research have been conducted in luxury consumption behavior based on perspective of culture, brand, and purchase motives. However, previous studies seem somewhat limited in fully explaining luxury consumption behavior due to less understanding of consumers' psychological trait. In order to fill this gap, this study adopts narcissism (overt narcissism and covert narcissism) to explain consumers' psychological trait. Based on specific psychological trait, consumers would lead to different luxury purchasing behavior depending on purchase motives. Especially, overt narcissism would show high tendency of self-esteem, arrogance, which means that it is closely related to need for uniqueness. Conversely, covert narcissism would show high sensitivity to others, which indicate that it is involved with need for approval. Also, each narcissism would result in different behavior for luxury purchasing based on generation difference (20-30s, vs. 40-50s). The result of this study shows that overt narcissism, covert narcissism, need for uniqueness, need for approval have significant influence on luxury consumption behavior. Especially, overt narcissism has interaction effect with need for uniqueness and young generation (in the 20s, 30s) for luxury purchasing behavior. On the other hand, it was found that covert narcissism has no interaction effect with other variables.

• 무역학회지
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• 제46권1호
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• pp.23-38
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• 2021

This paper investigated the preference change of payment terms in international trade along with counteroffer or first offer conditions of the other parties. Studies on trade payment terms have mainly focused on payment term determination factors such as firm size, product price level, country credit rate, etc. We tried to find other factors affecting payment terms choice, during the negotiation process. We applied behavioral economics theories such as 'Status Quo Bias' and 'Anchoring effect' to build our research model. To prove the existence of the above effects, we proceeded with field experiments to the exporting companies in Alibaba.com. Both 'Status Quo Bias' and 'Anchoring effect' were found in the field experiment. Most of the exporting companies preferred traditional payment methods to new payment methods. And an initial request for a low advance payment ratio led to a lower advance payment ratio. Also, the experience of using new payment methods could diminish status quo bias. This paper applied behavioral economics theories and field experiment methodology to the payment term studies in international trades. These attempts could contribute to expanding the diversity of methodology and scope of international trade studies.

• 무역학회지
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• 제45권1호
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• pp.173-201
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• 2020

As the US's trade deficit with China and China's manufacturing industry has risen rapidly, the US has begun to regulate trade items as part of China's checks. Four rounds of reprisal measures have greatly altered the trade structures of both countries. In particular, Korea, which is highly dependent on the US and China, has been directly affected by US-China trade disputes. The purpose of this study was to analyze the effects of US-China trade disputes on the stock price of Korean export firms by performing an event study. This study analyzed stock price fluctuations for 7 days before and after entry into forced [Please check] retaliatory tariffs on Korean exporters' export items subject to retaliatory tariffs. According to the analysis results, among companies that produce goods with major tariffs imposed on China by the US, such as electronic appliances, semiconductors, machinery, and automobiles, those producing electronics and semiconductor products were positively affected by the tariff incident. Secondly, among the companies producing steel, chemicals, and machinery, which the main tariffs imposed by the United States, companies producing steel and chemicals were negatively affected by the incident due to the stagnation of trade between China and the US. The results of this study suggest future trade policy directions for Korea and help to establish an export strategy for major industries.

• 무역학회지
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• 제46권4호
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• pp.39-60
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• 2021

Despite the fast growth and rising importance of digital trade, there still exists no multilateral agreement governing digital trade. Significant differences in policy directions regarding key digital trade issues among the U.S., EU and China are the main stumbling blocks for reaching agreement on the multilateral front. To overcome this deficiency in digital trade rules, there has been active movement among mainly countries in the Asia-Pacific region for rule-making on digital trade. Starting with the CPTPP chapter on E-Commerce in 2018, there has been a series of digital trade rules agreed in bilateral or plurilateral formats, such as the USMCA, USJDTA, DEPA, DEA and RCEP. Korea is currently only member of RCEP, which contains an e-commerce chapter with lower levels of commitment as compared to other digital trade agreements. This paper provides a broad analysis of the recently concluded digital trade agreements, comparing the different coverage of rules, levels of commitment, and rules templates. The analysis aims to provide implications for the desirable direction of rule-making on digital trade and Korea's digital trade strategy.