• International Area Studies Review
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• v.15 no.2
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• pp.427-447
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• 2011

In global, there is an active movement to reduce the green house gas. Allowance and carbon tax are the one of effective alternatives to mitigate green gas effect. In addition, the clean development machinism(CDM) can be applied between the ANNEX 1 and developing countries. It could be an one good solution to reduce the GHG. In the Northern Asia, the CDM can be the one of the possible solution to reduce the GHG because the Japan has a responsibility to reduce GHG and the China and Korea have a room to supply CDM credit. It is suffice to say that if these three countries decide to collaborate, the new international carbon market can be established that can be the similar form of EU-ETS. It is clear that few barriers must be removed to launched such new form of carbon market. Protection of domestic technology, excessive financial request of business opportunities by CDM, and irrational needs of carbon credit that created by CDM, listed constraints define as an one single word, the national selfishness. Once it is cleared, there is high possibility that the Northern Asia CDM trading system can be launched.

• The Journal of the Convergence on Culture Technology
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• v.5 no.1
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• pp.353-360
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• 2019

Trade credit is being used as a price discrimination strategy by the suppliers in order to increase the customer's demand. From the viewpoint of the customer, if delayed payment is allowed for a certain period of time from the supplier, the effect of reducing the inventory carrying cost will positively affect the customer's order quantity. Also, in deriving the economic order quantity(EOQ) formula, it is tacitly assumed that the customer's ordering cost is a fixed cost. However in many business transactions, the customer pays the freight cost for the transportation of his order and so, the customer's ordering cost contains not only a fixed cost but also a freight cost which is a function of the order size. Therefore, in this study, we analyzed the inventory model which considers that the customer's ordering cost contains not only a fixed cost but also a freight cost which is a function of the customer's order size when the supplier permits a delay in payments. For the analysis, it is also assumed that inventory is exhausted not only by customer's demand but also by deterioration. Investigation of the properties of an optimal solution allows us to develop an algorithm whose validity is illustrated using an example problem.

• International Commerce and Information Review
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• v.14 no.4
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• pp.339-360
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• 2012

We have more risks in international trade market than in the domestic business market because economic activities are going on with business transactions in different countries. K-sure's Refund Guarantee System is the most important system for Korean Small and Middle Shipbuilding Industries' business, but Korean exporters of Shipbuilding Industries are more interested in export financing through K-sure rather than its financial supporting services. The export insurance becomes more important service for international trade business and it its count as the only one indirect way of supporting export business because export insurance is accepted internationally under the WTO system. Also, it is the only measure that can cover emergency risk, credit risk, exchange risk which cannot be covered by private insurance. As the major risk manager for Korean exporters, the K-sure needs to provide an integrated risk management service for customers. Korean exporters can take more challenges in ever competitive international trade market and we can witness promotion of export in the future which is essential to Korea's economic growth.

• Journal of Korea Trade
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• v.24 no.6
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• pp.157-172
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• 2020

Purpose - This research empirically proves the extent to which export insurance promotes Korean exports to research object countries among New Southern countries. The outcome of this research will present implications for the operations of export insurance for exports to these countries. Design/methodology - For the empirical analysis, the export equation was composed using a basic gravity model. Based on this, the determinants of Korea's exports to research object countries were analyzed. In this study, a panel unit root test and panel cointegration test were conducted. As a result of the panel unit root test, it was confirmed that the variables of the panel data are not belonging to I(0), but to I(1). As a result of the panel cointegration test, it was established that there are long-term stable relationships among all variables. Accordingly, the gravity model was estimated using original data in order to reduce the information loss caused by the first difference, in spite of individual data belonging to I(1). Findings - For the estimated results of panel OLS, the estimated coefficient of short-term export insurance was 0.56-0.64, with statistically significant results at the significance level of 1%. In addition, for the analysis results of the random effect model, the estimated coefficient of short-term export insurance was 0.59-0.64%, with a statistically significant result at the 1% significance level. This could indicate that Korean export insurance has positive influences on export promotion to New Southern countries. Originality/value - The research implies that export insurance has a 4.1 to 4.7 multiplier effect in expanding exports to the New Southern countries for Korea. This research has intensively analyzed the effects of export insurance on the promotion of exports to a selected area by a government foreign economic policy, which is the originality and value of this paper.

• The Journal of the Convergence on Culture Technology
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• v.8 no.5
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• pp.577-582
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• 2022

Credit transactions are used as a means of price discrimination from competitors in order for suppliers to increase customer demand. In particular, in the case of a two-stage supply chain consisting of a supplier, a retailer, and a customer, the deferral of payment for goods allowed by the supplier is a means of reducing the inventory investment cost of the retailer. Retailers have the opportunity to discount the selling price while anticipating an increase in end-customer demand through the reduction of the inventory investment cost. In view of the fact that such trade credit is provided for the purpose of increasing demand as a means of discrimination from competitors, it may be more general that the credit transaction period is allowed flexibly according to the transaction volume. In particular, in the case of deteriorating products, the credit transaction period given according to the order volume is a factor that increases the order volume of the retailer, but product deterioration can be a limiting factor in the increase in the order volume. The deterioration rate actually plays an important role in determining the inventory policy of the retailer. Therefore, in this paper, the effect of such deterioration rate on the inventory policy of retailer is analyzed.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.3
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• pp.295-302
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• 2020

The paper aims to investigate the impact of foreign direct investment (FDI) on private investment with a sample having 49 developing countries in Asia (17 countries) and Africa (32 countries) during the period of 1990-2017. Unlike previous studies, we split the data into three groups for further analysis, including the Asian, African and the full-panel samples. The results confirm a crowding-in effect which shows that foreign direct investment promotes private investment on all three research samples. Besides, the lagged private investment has a positive and significant effect on itself in the next period which reflects the inertia in the trend of private investment in recipient countries. In the full-panel sample, there are some macro factors such as GDP per capita, trade openness, and electricity that also have a positive and statistically significant impact on private investment. Besides, when more deeply estimate with smaller samples, we find that trade openness and labour force have a positive and significant in Africa, on the other hand, not in Asia. However, the domestic credit variable has a negative and significant effect on private investment only in Asian developing countries. Furthermore, there is only a positive and significant impact of the electricity variable on private investment in Asia.

• Korean Business Review
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• v.15
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• pp.115-131
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• 2002

In Korea's point of view the ASEAN is geographically located near to Korea's peninsula and can supply Korea with IT products safely, it is also a significant market that we can effectively export IT products. This study analyzes ASEAN as a. strategic market, by enlarging the IT export and import, Korea's IT market excessively leaning upon the United States and Japan's market, so ASEAN is the proper market to which we can drive multilateral trade of IT market and multikinded trade of goods. In order to enhance exports of various IT products, we have to retain a good reputation and to remove revolting factors. Also, the marketing of Korea's IT export against ASEAN have to reinforce and to activate the direct investment, plant exports, and loan credit. Therefore, this study reviews Korea's IT Industry analysis to ASEAN, and finally we suggest the way to solve the main problems.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.5
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• pp.543-549
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• 2021

The stock market plays a crucial role in the growth of industry and trade, which eventually affects the economy. This paper studies the determinants of stock market development in Jordan using yearly time-series data (1978-2019). The autoregressive distributed lag approach is applied to examine co-integration, while the vector error correction model is employed to estimate (long-run and short-run) causal relationships. The results show that macroeconomic determinants such as gross domestic product, gross domestic savings, investment rate, credit to the private sector, broadest money supply, stock market liquidity, and inflation rate are important determinants of stock market development. These findings provide vital implications for policymakers in developed and emerging stock markets. First, economic development plays an imperative role in stock market development. Second, developing the banking sector is mandatory because it can significantly promote stock market development. Third, domestic investment is a significant determinant of stock market development, especially in emerging countries. However, it is vital to launch policies that lead to encourage investment and promote stock market development, and this could be done through (1) encouraging competition, (2) improving the institutional framework, and (3) removing trade blocks by establishing a mutual connection between foreign private investment entities and government authorities.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.5
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• pp.7-44
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• 1993

This study is focused on the review of buyer's remedy resulting from the breach of seller's duty in contracts for the international sale of goods focusing on UNCCIS, 1980 and the problems and suggestions of proper ideas for solving the problems. First problem on the buyer's remedy is related to the breach of seller's duty on del ivory of the contracted goods. When seller has failed to deliver the contracted goods to buyer within the stipulated periods, buyer can treat the contract as avoided and claim damages from seller. By the way, since UNCCIS does not provide any stipulation on the time of buyer's avoidance of the contract, buyer can delay the time of avoidance when the price of contracted goods is rising rapidly and enlarge the amount of damages, Since this stipulation is clearly unreasonable, proper solutions are required for UNCCIS. Second problem is related to the breach of seller's duty on deliver of goods which are of the quantity, quality and description required by the contract and which are contained or packged in the manner required by the contract. When seller has failed to deliver goods which are confirm with the contract, buyer may have one of the two rights of damages and the price reduction according to UNCCIS provided that he does not choose the avoidance. But, since the character and position of the price reduction as a buyer's remedy are not sufficient solutions, more detailed review on this point is required. Third, Seller's duty to provide documents is very important for overseas trade, but UNCCIS does not provide any specific buyer's remedy in comparison with the other remedy and also does not provide any stipulation on the Letter of Credit which have important roles for a device of setting payment in overseas trade. This means that trade customs and practice have not sufficiently reflected in UNCCIS. As the problems mentioned above may decrease the evaluation of buyer's remedy in UNCCIS and, furthermore, that of UNCCIS itself, proper solutions on these points are needed.

• Korea Trade Review
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• v.43 no.5
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• pp.1-23
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• 2018

Forfaiting is a trade finance facility whereby financial institution purchases accounts receivable from exporters on a without recourse basis to resolve exporters' credit risk. Since the effectuation of Uniform Rules for Forfaiting(URF 800), exporting companies have been interested in forfaiting and foreign exchange banks in South Korea have expanded products related to forfaiting. However, the risk management for dealing with forfaiting needs improvement. In this paper, we will compare current forfaiting risk managements between foreign exchange banks and foreign banks in South Korea by studying the agreements for each bank and standard forfaiting agreements of the ICC. There is a significant gap for risks covered and points of reserve(points of recourse) between each bank. This work suggests the need for unification for these gaps in order to enhance risk management for exporting companies and foreign exchange banks in South Korea.