• International Commerce and Information Review
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• v.11 no.2
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• pp.173-201
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• 2009

As a result of overemphasizing the goods sector in trade structure, Korea does not meet properly the global trend which has the key role of 'trade in services' as the service economy have been expanded. Hereafter, it is easily forecasted that trade in services will be one of the main factors for Korea's competitiveness and engine of growth. Nevertheless, because Korea does not equip the concreteness of governance for trade in services, it is possible that the efficiency deterioration of trade volume, confusion of Korea's trade policy, conflict among trading countries, and discordance between the interested parties may be occurred. This paper analyzes the governance system of Korea for trade in services in order to enhance the competitiveness reflecting the importance of trade in services and to draw some strategies for remodeling the service governance system. It is expected to raise the efficiency of Korea's trade policy by constructing the systematic governance for trade in services, and to remove lots of latent risks during global transactions by improving the imbalance between manufacturing and service part for the development of trade in services in Korea. Analysis revealed itself the result that Korea is weak enough to can not identify the governance system about trade in services. Except 'Extent of Services' article of the Foreign Trade Act, Korea has not prepared the governance system for trade in services so that governance system have been scattered overly or decentralized. Problems about trade in services are not limited to enterprise's side, but extended to all the players including government agency whole, academic world and research institute. Therefore, the governance of trade in services should be strengthened and systematized by making the model law for trade in services(provisional name : Master Law for Trade in Services or Promotion Law for Trade in Services) by formatting type of fundamental law or separate legislation. If the bill legislation does not meet the conditions, the Foreign Trade Act should be totally reformed to Omnibus Trade Act concept including trade in services.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.69
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• pp.741-762
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• 2016

The importance of trade in services has been increasing day by day, but the research on it is insufficient so far in terms of basic information, statistics, influence, industrialization and so on. To foster of professional trader in services, we need curriculums, textbooks and training centers like academy or college in advance. We have well developed curriculums for trade in goods since 1960's in Korea, so we can transfer the trade in goods' curriculum to trade in services. There are some differences between trade in goods and trade in services basically, but we can borrow a lot of idea from trade in goods in terms of basic framework like international economics, international business and international commercial transactions. This study propose the basic framework for trade in services' curriculum. First, trade in services economics handle the basic concept, statistics, characteristics, theories etc. Second, trade in services business treat the global companies to expand their business to global market, so characteristics of service companies, marketing plan and strategies and so on. Third, international commercial transaction of trade in services concentrate for procedures and contracts in terms of formation, implementation and finish of contract. Finally, Services industries can be a future strategic industry to any contries, so there are some national and corporates' strategy for expanding their business. This study acts on the initial idea for curriculums of trade in services, so I am looking forward to many criticism and development from another researchers to develop the model curriculums and textbook for education of specialized trader in services.

• International Commerce and Information Review
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• v.6 no.1
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• pp.213-235
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• 2004

As national income of a country increases, people's needs for the services are also increasing. Recently, Korea has been confronted with deficit of service account in BOP, despite surplus of goods account. We can suppose that the reason why service deficit has been occurred continuously is mainly due to the system of Korean Foreign Trade Act which exclude the regulation of trade in services. That is, the Act could not regulate trade in services in Korea. So, Korea could not promote the export strategies for trade in services. This paper focuses on discovering the substitutional strategies for the revision of Foreign Trade Act in Korea. As a result, it was concluded that Foreign Trade Act in Korea should be reestablished fundamentally and also should include the articles related to trade in services and trade in goods simultaneously.

• Korea Trade Review
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• v.44 no.6
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• pp.23-38
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• 2019

This paper aims to empirically study how service trade regulations and FTAs have affected trade in services of Korea, China, and Japan (KCJ). We estimate the gravity equation using the OECD Services Trade Restrictiveness Index (STRI), the Heterogeneity Index, and service trade data of KCJ and their main trade partners from 2003- 2010. The analysis revealed that the more restrictive regulations measured by the STRI are negatively associated with the services trade of Korea and Japan. In addition, Korean FTAs have had a significantly positive effect on service trade. Further empirical results showed that FTAs with a longer implementation period had a greater effect on services trade.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.29
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• pp.65-86
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• 2006

In general, goods can be defined as objects, devices or things, whereas services can be defined as deeds, efforts or performances. Ultimately, the primary difference between goods and services is the property of intangibility - lacking physical substance. Recently, service industries span a wide variety of enterprises, from hamburgers to high technology. And the rules-based multilateral trading system so successful in reducing barriers to international trade in goods is now being expanded in the area of international trade in services. Therefore, the Korean Ministry of Trade, Industries and Energies has revised the Korea Foreign Trade Act and its Enforcement Ordinance to focus on expanding trade in service sectors, including transportation, communications, tourism services, and business services.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.75
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• pp.117-136
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• 2017

Trade finance services have been played an important role in the Korea trade development history since 1960's. These days the trade environment is confronted by the 4th Industrial revolution and new trade protectionism. So we need to improve the Korea Trade Finance Services in order to improve Korea trade volume. Bank of Korea(BOK) also revised the Rule of Korea Trade Finance in 2014 and enlarged the trade fund for commercial banks where they handle the trade finance to small and medium enterprises(SME) in 2016. This article handle the current state and problems of Korea trade finance services and suggest the improvement measures as follows; First, the commercial banks, which handle trade finance fund, should improve the customs and practice of judge loan for SMEs. Second, the export volume counting rule for trade loan should harmonize between BOK's Rule and Foreign Trade Management Regulation under the Foreign Trade Act. Third, the processing trade and intermediate trade also can use the trade finance like other trade. Fourth, Trade finance should be in balance between export and import finance to defend the new protectionism. It means that the trade finance should expand to import in the certain conditions. Lastly, the related trade promotion agencies and their employees should improve their skills and abilities for handling trade finance.

• East Asian Economic Review
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• v.16 no.3
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• pp.291-314
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• 2012

This paper attempts to investigate to what extent English proficiency can boost international trade in services. To achieve this purpose, this paper estimates the determinants of services trade including language variables with the aggregated and disaggregated data for nine different subsectors of OECD countries. The empirical tests are based on a theory-based gravity model derived from Anderson and von Wincoop. The findings show that English proficiency has a significant influence on services trade, while other languages such as French and German have only weak and mixed effects. In particular, communication, financial, commercial, insurance, and business services are revealed to be the most impacted by the level of English proficiency. The results imply that governments can use their English policies to promote international trade in services.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.49
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• pp.461-490
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• 2011

The purpose of this study is to examine which factors are encouraging SMEs to participate in uTradeHub(focused on the uTrade search service) in terms of product characteristics and sourcing patterns. The three factors encouraging Trade e-Marketplaces are identified in this study. First, internal factors include the support of top management, mature of IT infrastructure. Second, external factors include the pressure of industry, industry competition, dependence of trading partners. Third perception factors are perceived Usefulness, perceived easy of use. The empirical analysis had the following results. First, it reveals that support of top management, mature of IT infrastructure, industry competition have significant influence upon uTrade Search Services. On the other hand, pressure of industry, dependence of trading partners, Perceived relative benefits are not significant variable of the participation in uTrade Search Services. Second, the factors affecting the participation in uTrade Search Services are differentiated in terms of product characteristics and sourcing patterns. And the support of top management, mature of IT infrastructure, Perceived relative benefits are emphasized very important factors affecting the participation of uTrade Search Services in SMEs. The industry competition is recognized as more important factor in horizontal market in which Spot sourcing just like Operating products is trading. On the other hands, the dependence of trading partners are significant factor in vertical market in which Systemic sourcing just like Manufacturing products is trading.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.49
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• pp.409-434
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• 2011

SWIFT has designed Trade Services Utility(TSU) to meet the new paradigm of electronic trade. The Trade Services Utility is a matching and workflow application that sits on the SWIFT network. The TSU is designed to help banks offer advanced supply chain services to their corporate customers who are involved in open account trading. Nowadays, the Bank payment obligation(BPO) can optionally be included in a baseline by mutual consent. The BPO is an irrevocable and conditional obligation of an obligor bank(buyers bank) to pay a specified amount to seller's bank according to an established baseline of a single TSU transaction. Therefore, SWIFT enables its customers to automate and standardise financial transactions, thereby lowering costs, reducing operational risk and eliminating inefficiencies from their operations. Whereas, Banks can use the core functionality of the Trade Services Utility to offer competitive services that complement existing services. But SWIFT need to come up with the measures of activating the TSU BPO. So, this paper is to introduce TSU BPO and check the measures for the activation of the TSU BPO under the electronic trade environment.

• International Commerce and Information Review
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• v.11 no.2
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• pp.259-279
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• 2009

Recently, FTA is quickly spreading out all over the world. In Korea, roles of trade in the economy are significantly important. Therefore, in order to adapt quickly to changed international trade environment, FTA negotiation and its agreements have been accelerated. In Korea, the trade deficit is expected to continue in telecommunications services sector. Meanwhile, pressures to open the market have been intensified in telecommunications services at WTO and FTA negotiations. Therefore, in the middle of opening the market, the expansion plans to increase the competitiveness of our telecommunications services are required to be searched. Thus, in this paper, we reviewed the Korea trade policy status related to telecommunications services based on realistic situation. Also, after reviewing the trade issues which are raised in the WTO and FTA negotiations, the major issues in WTO and FTA were driven to the lessons.