• Korea Trade Review
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• v.46 no.1
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• pp.83-111
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• 2021

This paper conducts a Structural Dcomposition Analysis on the structure of factors contributing to the output growth of Korean Maritime and Port Industry during year 2000~ year 2017. Some of results are as follows. The output growth rates of the industry (yearly average 4.3%) was far lower than the average growth rates of Service as well as of Manufacturing Industries (yearly average 9% and 6.8%, respectively) due to the lower output growth of Maritime Industry. Among the growth contributing factors, change in domestic demand for final goods is the first contributing factor, and then change in technology, change in export and import substitution for intermediate goods are followed in order, but import substitution for final goods decreased its output. However, in each respective sub-periods of pre-global financial crisis and post-global financial crisis, change in the export, especially change in the export of Maritime Industry is the dominant determinant of output change in the Maritime and Port Industry in opposite ways. In the periods of the former the increase in the export of Maritime Industry overwhelmingly led the output growth of the Maritime and Port industry, but in the periods of the latter the decrease in its export was the culprit of lower output growth of the industry. On the other hand, among all industries of service and manufacturing sectors, Wholesale and Retail industry is the leading industry in contributing to the output growth of the Maritime and Port Industry, and Transportation Equipment industry is the leading industry among all manufacturing industries.

• Korea Trade Review
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• v.41 no.4
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• pp.61-90
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• 2016

This study aims to identify the sources of productivity change in export manufacturing firms. After estimating the Malmquist productivity index, a panel regression was used to calculate the source of productivity change. Upon conducting a literature review of this field, six variables were selected as explanatory variables. The results of an analysis of 355 export manufacturing firms operating from 2009 through 2015 are as follows: First, both innovation activity and total assets had a positive impact on productivity change. However, employment cost intensity, equity ratio, and current ratio had a negative impact on productivity change in export manufacturing firms. Second, innovation activity and intangible assets had a positive impact on productivity change, but employment cost intensity, selling expense intensity, and equity ratio had a negative impact on productivity change in large export manufacturing firms. Third, innovation activity had a positive impact on productivity change, but employment cost intensity and equity ratio had a negative impact on productivity change in small and medium export manufacturing firms. Fourth, intangible assets had a positive impact on productivity change, but employment cost intensity, selling expense intensity, and current ratio had a negative impact on productivity change in export manufacturing firms listed on the Korea Composite Stock Price Index. Fifth, innovation activity and total assets had a positive impact on productivity change, but employment cost intensity and equity ratio had a negative impact on productivity change in manufacturing firms listed on the Korean Securities Dealers Automated Quotations. The managerial implications of this study are also discussed.

• International Commerce and Information Review
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• v.10 no.4
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• pp.553-577
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• 2008

Various export supporting systems of Korean government have affected Korean economy to be 13th in the world and over US$ seven hundred trillion in terms of the volume. Especially, export insurance system use to cover the commercial risks of Korean exporter. That is why Korean exporter have been able to do their best in exporting and expand overseas market actively. On the other hand, China who use to drive strong export expansion policy after joining WTO, have also very focused on export insurance system and developed its applicable items. From the point of view above, It is very meaningful study to compare the export insurance system between Korea and China. It is suggested that government funds for export insurance should be raised to give exporters more benefits. New kinds of export insurance items, also, should be developed to actively face international trade environment change.

• Asia-Pacific Journal of Business
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• v.13 no.2
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• pp.39-50
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• 2022

Purpose - The purpose of this study is to examine how Korea's macroeconomic factors, such as GDP, CPI, Export, Import, Unemployment rate and USD/KRW exchange rate, are affected by the oil price shocks. Design/methodology/approach - This study used monthly and quarterly time-series data of each variable for the period 1983 to 2022, consisting of two sub-periods, to employ Granger causality test and GARCH method in order to identify the role of the oil price movement in macroeconomic factors in Korea. Findings - Korea's currency rate to the US dollar is negatively correlated with the price change of crude oil while the GDP change is positively correlated with the price change of crude oil with strong relationship between Export and Import in particular. The exchange rate and GDP growth are believed to be not correlated with the oil price change for the pre-GFC period. According to the Granger causality test, the price change in crude oil has a causal impact on CPI, Export and Import while other factors are relatively slightly affected. Transmission effect from the oil price to Export is found and there also exists volatility spillover from oil price to economic variables under examination. Comparing two sub-periods, CPI and Export volatility responds negatively to shocks in the oil price for the pre-GFC period while volatility of CPI and Unemployment reacts positively to the oil price shocks for the post-GFC period. Research implications or Originality - The findings of this study could be helpful for both domestic and international investors to build their portfolio for the risk management since rising WTI price can be interpreted as a result of global economic growth and ensuing increase in the worldwide demand of the crude oil. Consequently, the national output is expected to increase and the currency is also expected to be strong in the long run.

• Journal of the Korea Convergence Society
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• v.10 no.1
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• pp.177-186
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• 2019

The purpose of this study is to examine the trend of export growth rate and rate of change by each port/airport in Korea. And to analyze which each port/airport are showing a high growth rate. To this end, Incheon Airport, Busan, Incheon, Ulsan, Gwangyang and Pyeongtaek were selected in order of export value. The analysis period for each port/airport was 200 monthly data from September 2001 to April 2018. Pyeongtaek, Incheon and Gwangyang are relatively larger than Busan and Ulsan in the rate of increase and change. This is because export to China and Southeast Asia has increased more than in the US and Japan. As a result of the analysis, exports from Busan, Incheon Airport and Ulsan have recently been shifted to Incheon Airport, Incheon, Gwangyang and Pyeongtaek. In addition, the export portion of Incheon International Airport, which is an aviation logistics service, is growing more and more. In the west coast era, interest and investment in Incheon, Pyeongtaek and Gwangyang seem to be more needed in preparation for import and export to China, Southeast Asia and North Korea.

• The Journal of the Korea Contents Association
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• v.10 no.12
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• pp.300-308
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• 2010

This study empirically investigates the export structure change of OECD countries in the field of information technology from 1995 to 2005. We used Between and Within Entropy index to estimate the difference of export structure change rather than RCA index(simple export structure change). In addition, we also estimate the relationship between R&D activities and export difference. First, empirical findings showed that IT export market concentration is decreasing gradually, and changing to more competitive market structure. Second, compared to other OECD countries, Korean exports weight of information and communication industry can be seen higher than that of bio-industry. Third, Entropy index was increased from 1995 and then gradually decreased as the starting point of 2000. Finally, the relationship between R & D activities in the telecommunications industry and impact of the export structure changes was a positive.

• International Commerce and Information Review
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• v.7 no.3
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• pp.269-286
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• 2005

The exchange rate volatility has been increased since the time when the floating exchange rate system was introduced in Korea. As a result, the increase of the exchange rate volatility raised the risk in international trades in Korea. The purpose of this study in to study the feature of exchange rate volatility and the main sources of its increase and to confirm whether the exchange rate volatility influence export volume and price of Korea. In the first place, I measured exchange rate volatility with two methods. The one is descriptive statistic method such as the width of daily exchange rate fluctuation and the rate of exchange rate devaluation. The other is the time varying conditional variance of exchange rate. Then, I studied the sources of exchange rate volatility. In the second place, I defined the exchange rate volatility as the time varying conditional variance and estimated it by using elastic a approach model which shows exchange rate is affected by itself and its conditional variance, I estimated its effects on export volumes and prices of electric home appliances, information & communication equal and semi-conductor. The result of this study is as follows. With presumed result EU and Korea because is not the goods which is to substantial competition relationship, The effect where the relative value change of presumed result expression anger and the dollar of import and export function goes mad to the import and export of Korea the income compared to is to export and it is appearing a lot. The EU goods is sold more expensively the Korean goods than from about length being caused by American market of the dollar and the balance of trade of Korea is visible like being visible the improvement of single breadth. Because the relationship of competition is weak but substantially there is to a short term and expression - the effect where the dollar rate fluctuation is big in Korean trade there is a possibility of saying that widely known it is not.

• International Commerce and Information Review
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• v.9 no.3
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• pp.151-160
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• 2007

The purpose of this study is to estimate the risk premium hedge ratio in foreign exchange risk of the foreign exchange rate insurance. The applicants of exchange rate insurance and Korea Export Insurance Corporation will be facing the risk in change of currency and guaranteed currency’s swap point upon contract being made. Also upon making decision of hedging exchange rate insurance, the company will need to be aware of the risk causing due to change in swap point.

• Journal of the Korean Society of Costume
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• v.53 no.7
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• pp.37-45
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• 2003

This study is to research the changing trends in the trading goods and the cause of the change in the early Chosun dynasty and to find out the influence that the export goods had on the Chosun society. This research demonstrated the costume culture of the early Chosun was affected by the trading trends. The export items of Chosun showed differences in chronological order. They changed from hemp cloth to cotton cloth. The cause of such change in the export items was due to the change in the amount of demand and supply, to products of Chosun. and to social factors. Looking at the amount and items of the export goods to Japan, the amount was huge and the number of trade was a lot. There were several influences that the exporting cotton cloth to Japan had on Chosun's costume culture. First, the export caused the growth of cotton industry through the reinforcement policy. Next, it made the amount of national deposit of cotton cloth exhausted as a result of the increase in the amount of the exporting cotton. It also made worse the dual distribution structure of cotton cloth and the leaning toward bad cotton cloth. And in consequence of the connection between rich merchants and politicians, these social phenomena became worse and worse. And these facts demonstrate that the costume culture of the early Chosun dynasty was affected by the trade between Chosun and Japan. Therefore, to better understand the costume culture of the early Chosun dynasty, I propose to consider the consequences resulted from the trade with Japan.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.11
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• pp.1033-1039
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• 2020

Vietnam is conducting an export-led growth model and labour-intensive industries contributing majorly to the total export value. In the context of Industry 4.0, the labour-based industries are significantly affected; hence, enhancing productivity is the key measure to maintain these industries. The garment industry contributes significantly to the total export value of Vietnam. Based on meta-frontier framework, the approach of data envelopment analysis is used to measure technical efficiency of Vietnamese garment firms and the global Malmquist TFP index is utilised to identify productivity change and its components including efficiency, technology and technical gaps between different groups of firms. The data of Vietnamese garment firms from 2013 to 2018 collected from the Vietnam General Statistic Office is used in this study. The results show that: (i) The total factor productivity of Vietnamese garment firms growth, technical progress is the main contributor; (ii) The private garment sector is the leading group; (iii) There is a large technological gap among Vietnamese garment sectors. The private and FDI garment firms have experienced a growth in all components of total factor productivity change. Meanwhile, technological progress change is the main reason to constrain the productivity growth of state-owned garment firms.