• 한국중재학회지:중재연구
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• 제17권3호
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• pp.81-99
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• 2007

The purpose of this paper is to analyze trade disputes between Korea and China in terms of broad industrial policy concept and to derive some solution. It provide first a historical overview of the basic theory for the trade policy in the developing countries to see how the trade policy evolved the different stage of option and then try to highlight features of China's trade policy development after the capitalization. An attempt is also made to review the trade dispute in Kimchi in order to identify what are the underlying reasons for policy failure. Finally, we will try to suggest trade strategy with major policy directions which could be relevant for trade development of Korea today. The trade dispute issue with China has been newly coined referring to Korea's weakening economic stance among the two powerful Asians countries, China and Korea has always been closed partners geographically and economically. The study has stressed that the Koreans should not recoil from the trade crisis but to consider it as an opportunity. Rapidly growing Chinese manufacturing industry has heightened the importance of trade between Korea and China, indicating conversion in specialization from vertical to horizontal, according to the economic research so far. This paper has proposed strategy to cope with any trade disputes between Korea and China.

• 무역학회지
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• 제47권6호
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• pp.39-53
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• 2022

This study conducted a conformity review of Korean shipping industry policy and suggested that the Korean five-year shipping reconstruction policy has not violated the WTO (World Trade Organization) trade law agreement yet. In order to investigate the latest Korean shipping policy, domestic and foreign reports were reviewed, and after that, the WTO's published data and domestic and foreign journals were analyzed. Through this process, this study tried to review the conformity of trade laws by major Korean shipping policies. The shipping industry is a representative service industry, and subsidies for this are not subject to WTO-level regulation in principle. The purpose of Korean shipping industry policy is to support the shipping industry, a type of service industry, and even if the ship-building and manufacturing industries (shipper) indirectly spread benefits in the process, this is unintentional or private-level support. That is, this study concluded that It is understood that Korea's five-year shipping reconstruction policy does not violate the WTO trade law agreement.

• KDI Journal of Economic Policy
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• 제45권3호
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• pp.1-24
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• 2023

This paper empirically examines the relationship between inter-Korean trade and inter-Korean relations over the past three decades. It asks two questions: (1) Does inter-Korean trade contribute to improved inter-Korean relations and peace on the Korean Peninsula? (2) Does improved inter-Korean relations lead to increased inter-Korean trade? The study employs a time-series causal relationship analysis methodology to answer these questions. The findings show that during the progressive government's reign, inter-Korean trade was not impacted by inter-Korean relations. This is due to the implementation of a political-economic separation policy towards North Korea. Moreover, the increase in general trade and processing on commission did enhance inter-Korean relations, reflecting the "inclusive policy" aimed at achieving peace on the Korean Peninsula through inter-Korean trade. In contrast, during the conservative government's reign, inter-Korean relations had a direct impact on inter-Korean trade, with deteriorating relations leading to a significant decrease in trade. This was due to the implementation of North Korea policies that were linked to politics and the economy.

• 환경정책연구
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• 제1권1호
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• pp.111-128
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• 2002

The Ministerial Declaration of the 4th WTO Ministerial Meeting at Doha in November 2001 announced the launch of the New Round and a completion date of January 1st, 2005. It agreed to eventually negotiate trade and environment linkage issues, such as the relationship between the WTO rules and Multilateral Environment Agreements and the reduction or elimination of tariff and non-tariff barriers to environmental goods and services. The Committee on Trade and Environment was instructed to pursue work on all items on its agenda within the current terms of reference and to give particular attention to the effects of environmental measures on market access, relevant provisions of the TRTPS Agreement, and labelling requirements for environmental purposes. This means that far the first time, the members of the WTO will discuss and negotiate trade and environment linkage in the framework of multilateral trade negotiation. Korea, from the standpoint of a smaller open economy heavily dependent on international trade, is obliged to overcome the challenges imposed by the environment agenda in the Doha declaration. This study examined the linkage among environment, economic growth and international trade in order to review the possible trade and environment policy implications in Korea. Mutual supportiveness of trade and environment depends much on the effectiveness of trade and environment policy coordination. In this regard, we conclude that the Korean government should provide an appropriate institutional framework to promote closer cooperation among policy makers engaged in negotiations. Trade and environment policy review and environmental impact assessment of trade negotiation should be considered as a work programme of this institutional policy coordination framework.

• Journal of Korea Trade
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• 제23권7호
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• pp.83-95
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• 2019

Purpose - This study analyzed the effect of the Trump Government's protectionist trade policies on foreign ownership. Specifically, this study empirically analyzes the hypothesis that foreign ownership will decrease after the Trump Government rather than before the Trump Government. Design/methodology - The hypothesis of this study is based on the expectation that US protection trade policy will negatively affect the profitability of Korean companies. The dependent variable in this study is the foreign ownership ratio, and the independent variable is a dummy variable representing before and after the Trump Government. Multiple regression analysis was performed, including the control variables suggested in previous studies related to foreign ownership. Findings - As a result, foreign ownership increased after the Trump Government rather than before the Trump Government. This study further analyzes whether the main variables affecting foreign investor's decision-making are differences before and after Trump Government. The export ratio, profitability and dividends did not differ before and after Trump Government. However, the level of information asymmetry decreased after the Trump Government than before the Trump Government. This suggests that US protection trade policies do not adversely affect the profitability of Korean companies. However, Korean firms are improving their information environment because US protectionist trade policies can lower profitability and negatively impact capital raising. In this regard, the foreign ownership ratio seems to differ before and after the Trump Government. Originality/value - This study contributes in that it presents data that US protectionist policies can affect Korean corporate governance. This study has implications from the short-term analysis of US protection trade policy.

• Journal of Korea Trade
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• 제23권3호
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• pp.118-137
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• 2019

Purpose - As global trade disputes intensify and global trade uncertainty increases due to the prevailing trade protectionism all over the world, mega-FTAs such as the RCEP and CPTPP are suggested as strategic trade policy options for export-driven small open economies, such as Korea. This paper aims to provide a comprehensive analysis of Korea's mega-FTA participation and the induced implications for the Korean economy. Design/methodology - We use a multi-region, multi-sector global CGE model, and investigate the different effects of both the US-China and US-EU trade wars on the relative changes in GDP, welfare, and trade under different trade policy regimes; (i) Korea does not participate in any mega-FTA, (ii) Korea participates in the RCEP, and (iii) Korea participates in the CPTPP. Findings - We show, among others, that though industrial effects might be largely varied, the overall enlarging of free trade zones through multilateral mega-FTA participation may contribute significantly to the macroeconomic soundness and stability of Korea, even when global trade protectionism prevails. Under RCEP and CPTPP trade regimes, Korea's GDP may increase even when the global trade environment deteriorates as trade wars occur and intensify between the US and China, or between the US and EU. It is also estimated that RCEP participation increases Korea's GDP, welfare (measured in equivalent variation), and total trade by 1.12%, $1.09 billion, and 2.54%, respectively, while CPTPP participation increases them by 0.19%, $0.92 billion, and 0.13%, respectively. Originality/value - Existing studies usually focus on the direct impacts of mega-FTA participation on macroeconomic variables such as GDP, welfare, and trade, and do not consider the possible buffer effects of a mega-FTA when the global trade environment worsens. In this paper, we analyze and quantify not only the direct impacts of RCEP and CPTPP on the main macroeconomic variables but also the possible buffer effects of the RCEP and CPTPP in the cases of the US-China and US-EU trade wars.

• 한국콘텐츠학회논문지
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• 제18권2호
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• pp.92-102
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• 2018

본 연구는 트럼프 행정부 이후 보호무역이 강화되는 시점에 미국의TPP 탈퇴로 기존 TPP 협정 체결국 중 베트남을 중심으로 한국 통상 정책의 변화와 영향에 대해 연구를 하였다. 한국은 자유무역과 자유경제 시장의 흐름으로 경제 성장과 발전에 많은 성과와 결과물을 이루어냈고 이후에도 통상으로 국력을 더욱 공고히 해야만 한다. 그러나 외부환경은 보호주의로 통상정책을 시행하려는 강대국이 많지만 정량적으로 경제의 기반을 무역에 두고 있어 자유무역주의를 더욱 발전시켜야할 위치에 있는 것이다. 따라서 자유무역주의의 흐름이 계속되고, 세계화가 지속된다면 현재 진행 중이던 TPP가 미국의 탈퇴 이후 한국은 어떤 방향으로 나아갈 수 있을지를 고찰하여 다음과 같은 시사점을 제시하였다. 첫째로 생산비용이 저렴한 국가를 활용한 공급망 구축이다. 둘째로 일본과 대미 수출 경쟁관계에 있는 품목은 GVC를 활용한 경쟁력을 확보하여야 할 것이다. 셋째로 동남아 시장 전초 기지 역할을 할 수 있도록 중간재의 생산과 판매 거점을 확보하는 것 등을 제시하였다. 그리고 본 연구는 문헌 연구를 중심으로 하였다.

• 수산경영론집
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• 제32권1호
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• pp.125-149
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• 2001

The study tries to suggest policy proposals for enhancing competitiveness of our country as the base of fisheries logistics in East-North Asia. The study strongly recommends the adoption of the system of fisheries free trade area(FTA) to achieve the object under the analysis of structure of international fisheries trade in East-North Asian countries.

• 동남아시아연구
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• 제24권2호
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• pp.35-79
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• 2014

This study examines the measures for the activation and the growth of intra-regional trade in Southeast Asia taking a look at the four dimensions of tariff rates, non-tariff barriers, trade facilitations, and trade infrastructures. Utilizing a gravity model, we performed empirical analysis and discussed the policy implications with the priorities to implement. To expand the intra-regional trade in Southeast Asia it would be necessary to enhance the level of trade facilitations and provide trade infrastructures, such as ports and airports as well as cutting the tariff rates and eliminating the non-trade barriers. In particular, in the case of exports of ASEAN6 to ASEAN6 the infrastructure is the important factor. Also, in the case of the exports of ASEAN6 to CLMV(Cambodia, Laos, Myanmar, and Vietnam), it is expected that eliminating non-tariff barriers and enhancing trade facilitations may play important roles in the progress of intra-regional trade. These results may provide the important implications for Southeast Asian countries, which are trying to promote intra-regional trade ahead of the constitution of ASEAN Economic Community by 2015. Southeast Asian countries could be evaluated to achieve a certain level of trade liberalization and economic integration through the formation of AFTA. But in order for Southeast Asia to develop to advanced economic integrated region it requires mutual cooperations and policy harmonizations among regional countries. Also, for the elimination of non-tariff barriers, promoting trade facilitations, and providing infrastructures, the administrative, legal, and institutional measures would have to be fulfilled in advance. In addition, capital investment for constructing infrastructures would be necessary to realize the intra-regional trade expansion. However, to achieve the goal, it would require a large capital investment and highly mandated policy considerations and harmonizations among Southeast Asian countries in terms of further trade liberalization and economic integration.

• 무역학회지
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• 제45권6호
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• pp.23-43
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• 2020

This study aims at analyzing the interactions between two of the most significant trade stakeholders in Korea, the Trade Ministry and the Legislature, using text network analysis. Tackling seven Action and Plan Reports for Requests from Parliamentary Inspection released by the National Assembly, this paper conducts a topic modelling analysis, particularly focusing on the reports for the three trade-related institutes: the MOTIE headquarter, Korea Trade Insurance Corporation, Korea Trade and Investment Promotion Agency. According to the analysis, such traditional topics of the MOTIE as enterprise, industry, business, management, development were frequently appeared in the reports. Trade-related topics including export, trade, commerce, investment, overseas, domestic, dispute, cooperation, efficiency, negotiation, service, promotion were repeatedly shown. Lastly, a case study on 2019 Parliamentary Inspection Report showed specific trade-related topics and relevant contents that raised issues in that year. This analysis implies that the text data driven from the Parliamentary Inspection Reports between the MOTIE and the National Assembly, can be established as so called 'trade policy information system' which are valuable not only for the two but also the rest of the trade stakeholders in Korea.