• Journal of Korea Trade
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• v.26 no.4
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• pp.83-97
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• 2022

Purpose - In this paper, we, taking South Korea's foreign direct investment in RCEP partners as an example, will examine its investment efficiency in these countries and analyze the main influencing factors, making suggestions for further liberalizing and facilitating its investment in and even for promoting its trade and economic cooperation with them. Design/methodology - In this study, we look at the panel data of South Korea and the other 13 RCEP countries (Brunei excluded) from 2000 to 2019 and apply the stochastic frontier analysis to measure its foreign direct investment efficiency and explore the influencing factors in RCEP countries. We examine the investment potential of South Korea in these places. Findings - We find that South Korea's average investment efficiency in RCEP countries reached 0.62, indicating large investment potential. We also find that its investment efficiency in RCEP partners was heterogeneous. Our study reveals that South Korea's foreign direct investment is significantly positively correlated with the market size and population of the two countries, as well as with whether the host country has a coastline and rich natural resources, while negatively with geographic distance. It shows that free trade agreements, economic freedom, and regulatory quality play significant roles in improving investment efficiency. Originality/value - Through theoretical and empirical analysis, we deal with the efficiency and influencing factors of South Korea's direct investment in RCEP partners, proposing new drivers for facilitating its trade and investment in these countries and comprehensively evaluating the efficiency and revealing the trend of its FDI in these countries. In this paper, we put forward a solid theoretical basis for empirical analysis of the future economic and trade development between South Korea and its RCEP partners and give objective insights for further improving its foreign direct investment efficiency and tapping its investment potential.

• Journal of Information Technology Services
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• v.8 no.2
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• pp.189-204
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• 2009

Our study aims to investigate the determinants of international competitiveness and international specialization in services, using OECD service trade data. Real exchange rates, world demand, economies of scale, diffusion of IT, human capital, R&D expenditure and institutional variables are introduced as explanatory variables in regressions for 29 OECO countries over $1996{\sim}2003$. Some of major findings from the study can be summarized as follows. First, economies of scale play important role in transport and business services. Second, the index of freedom to trade measured by Faster Institute has a positive and significant impact on international competitiveness in telecommunication, finance and insurance and business services. Third, IT provides favorable condition to build international competitiveness in finance and insurance and business services. Fourth, R&D expenditure contributes to the amelioration of international competitiveness in transport services, while investment in new equipments contributes to increasing the competitiveness in telecommunication services. Thus, our results show the importance of the industrial base for developing a competitive service economy.

• The Transactions of the Korean Institute of Electrical Engineers D
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• v.50 no.3
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• pp.120-129
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• 2001

A two-degree-of-freedom quarter-car model is used as the basis for LQ and the proposed controller design for a semi-active suspension. The LQ controller results in the best rms performance trade-offs(as defined by performance index) between ride, handling and packaging requirements. In LQ controller, however, the conflict between road holding and ride comfort remains. The adaptive semi-active suspension control based on the road frequency are introduced in this paper. With this method, the trade-off between road holding and ride comfort can be relaxed. The road frequency is estimated by wavelet transform if rattle space signal. The simulation results show that the proposed controller is superior to the conventional LQ controller.

• 제어로봇시스템학회:학술대회논문집
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• 1994.10a
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• pp.82-87
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• 1994

In this study, dynamic optimal design far a two degree-of-freedom anthropomorphic robot module is performed. Several dynamic design indices associated with the inertia matrix and the inertia power array are introduced. Analysis for the relationship between the dynamic parameters and the design indices shows that trade-offs exist between the isotropy and the dynamic design indices related to the actuator size. A composite design index is employed to deal with multi-criteria based design with different weighting factors, in a systematic manner. We demonstrate the fact that dynamic optimization is another significant step to enhance the system performances, followed by kinematic optimization.

• International Commerce and Information Review
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• v.13 no.1
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• pp.97-120
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• 2011

Purpose of this study is to define competitiveness and attribution factors of Busan port on attracting high value added business such as transshipment cargo. Research finds condition to become optimal transshipment port comprises both internal and external circumstances. As for the internal circumstance, scale and location of the distripark as well as port facilities and the rates, for the external circumstance, international network and information technology on logistics managements are providing positive effects. Optimal plans to attract transshipment cargo should include, first, development of total logistics management system from port entry to unloading, transportation, processing, loading to departure. Second, assign port as free trade zone under customs law to attract foreign investment and goods traffic through tax exemption. Third, unless it is illegal, government needs to grant substantial freedom to shift capital for the foreign investors which will lead increase in cargo traffic and foreign investment.

• Korean Security Journal
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• no.20
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• pp.365-392
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• 2009

The increased concern about national security in the U.S. after the 9/11 terrorist attacks has influenced public rights of access to government information and its legal foundation, the Freedom of Information Act (FOIA). Public access to government information has been restricted at the policy level by a series of legislative and executive changes in FOIA after September 11, 2001, but the examination of statistics on FOIA implementation between fiscal years 1999 and 2004 shows that the strengthened national security measures did not have a considerable impact at the implementation level during this period. These contrasting findings might be due to the public officials' informal reaction to the criticism of the restriction on public access, bureaucratic inertia, and the use of new record categories not subject to FOIA.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.8
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• pp.335-343
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• 2021

This paper investigates the effect of institutional quality on FDI inflows by using FDI outflows from Asian countries from 2009 to 2017. We used the FDI data from five major Asian economies, which are South Korea, China, Japan, Singapore, and Hong Kong. The gravity model was used to examine the effect of institutional quality on FDI flows. The regression model considers several independent variables, and we select the most appropriate variables by using the Bayesian Model Averaging (BMA) estimator. We have shown that foreign direct investment from Asian countries depends on the size of home and the partner countries, geographical distance, trade interaction between two countries, economic freedom, labor supply, tariff rate, and capacity of the government. The results of different estimation techniques emphasize that multinational enterprises prefer to invest in those countries which have a higher income, which shows the evidence for Lucas's paradox. The results also show that economic freedom and control of corruption have a positive impact on FDI inwards. The regression results show that better institutional quality in host countries encourages more FDIs from Asian economies. It suggests that the state should control corruption and create a free economic environment to attract FDIs.

• Journal of Arbitration Studies
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• v.27 no.4
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• pp.91-113
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• 2017

UN Convention on International Sale of Goods (CISG) and International Commercial Arbitration aim at the promotion and facilitation of international trade. Both of them share similar general principles; i.e., party autonomy and pacta sunt servanda. Also they are often applied concurrently in the case of the international commercial trade. The purpose of this article is to investigate whether the CISG could apply the formation of the arbitration clause that is included in the main contract governed by CISG. Sellers and buyers have freedom of designating choice of law that is applied to their contracts. An international arbitration agreement is presumed to be separable from the contract in which it is found. However, arbitration clauses commonly form part of a general contract. Thus, the CISG is intended to be applied to dispute resolution clauses, including arbitration clause even if it is not completely suitable. Notably, there is a fundamental distinction between the CISG and arbitration. The CISG abolished the formalities of contract. New York convention requires Contracting States' Courts to enforce written international agreements to arbitrate.

• Strategy21
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• s.36
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• pp.150-179
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• 2015

This thesis analyzes Somali piracy as a non-traditional threat to the Sea Lines of Communication (SLOC) and international countermeasures to the piracy. In an era of globally interdependent economies, the protection of sea lines and freedom of navigation are prerequisites for the development of states. Since the post-Cold War began in the early 1990s, ocean piracy has emerged as a significant threat to international trade. For instance, in the Malacca Strait which carries 30 percent of the world's trade volume, losses from failed shipping, insurance, plus other subsequent damages were enormous. Until the mid-2000s, navies and coast guards from Malaysia, Indonesia, Singapore, together with the International Maritime Organization (IMO), conducted anti-piracy operations in the Strait of Malacca. The combined efforts of these three maritime states, through information sharing and with reinforced assets including warships and patrol aircrafts, have successfully made a dent to lower incidents of piracy. Likewise, the United Nations' authorization of multinational forces to operate in Somali waters has pushed interdiction efforts including patrol and escort flotilla support. This along with self-reinforced security measures has successfully helped lower piracy from 75 incidents in 2012 to 15 in 2013. As illustrated, Somali piracy is a direct security threat to the international community and the SLOC which calls for global peacekeeping as a countermeasure. Reconstructing the economy and society to support public safety and stability should be the priority solution. Emphasis should be placed on restoring public peace and jurisdiction for control of piracy as a primary countermeasure.

• Journal of Korea Trade
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• v.24 no.4
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• pp.1-17
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• 2020

Purpose - Since China has been South Korea's biggest export destination, uncertainty shocks originating from it would influence South Korea's exports. This paper evaluates the effects of China's economic policy uncertainty on Korea's exports to explore the transmission channels. Design/methodology - Incorporating endogeneities and nonlinearities, this study employs a quarterly time-varying parameters vector autoregressive model to investigate the relationships between China's economic policy uncertainty and Korea's exports, where the overparameterization due to time-varying specifications is overcome by a novel stochastic model specification search framework. According to previous theoretical studies, this paper assesses two channels, demand shock channel and exchange rate channel, through which foreign uncertainty affects Korea's exports. This paper identifies the primary drivers of Korea's aggregate exports and analyzes the rationales for the time-variant impacts of China's economic policy uncertainty on Korea's exports to China. Findings - Our empirical results reveal that Korea's aggregate exports are less responsive to China's economic policy uncertainty shocks and significantly move together with global demand. In contrast, its bilateral exports to China are highly responsive in a negative and time-variant way. Moreover, Chinese investment is an important channel through which China's economic policy uncertainty affects Korea's exports to China after 2010. Further, the time-variant effects of China's economic policy uncertainty on Korea's exports to China are related to changes in China's foreign trade policies, global economic conditions, and China's degree of economic freedom. Originality/value - Few previous studies touch the effects of external uncertainty shocks on South Korea's exports. This paper attempts to fill this gap and explicitly investigate the impacts of China's economic policy uncertainty on Korea's exports from a time-varying perspective. As Korea is an export-oriented economy, this study provides insights for the Korean government to understand the transmissions of external uncertainty better.