• East Asian Journal of Business Economics (EAJBE)
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• v.3 no.4
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• pp.21-28
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• 2015

With CJK FTA as a starting point, this paper mainly studied the role of the logistics legal system in promoting marine industrial cooperation, facilitating investment trade, establishing international transport logistics, building marine economy international cooperation demonstration zone and deepening the economic and financial cooperation between China, Japan and Korea, and explored the way to establish an integrated logistics system between China, Japan and Korea to match the e-commerce certification system, online payment system and logistics distribution, thereby gradually promoting economic development and logistics integration in Northeast Asia, improving logistics efficiency, reducing logistics costs and establishing a unified logistics industry standardization system. This will accelerate logistics industry integration in Northeast Asia, build a unified logistics management center in Northeast Asia, and promote a new model of integrated logistics cooperation in Northeast Asia. Therefore, it has a practical and reference significance. In short, the improvement for the logistics legal system in CJK FTA is not the responsibility of a country or several countries. It concerns the development and prosperity for the logistics industry in the three countries and is an inevitable choice to promote the vigorous development of CJK FTA and economic take-off of each country.

• The Journal of Asian Finance, Economics and Business
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• v.3 no.3
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• pp.67-77
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• 2016

Shareholders solely depend on annual reports to make investment, credit and other decisions. Investors expect that information should be reliable, relevant, comparable, consistent and thus easy to use for decision making. But whether the importance of annual reports to all shareholders is equally significant is a question of research. Thus, this research study tries to find out the importance of reading annual reports to the investors. A questionnaire survey is conducted on investors considering thirty one general shareholders and six brokers. This research based survey finds that most of the shareholders have no knowledge about accounting or finance and they have little knowledge about capital markets due to lack of training. This study also finds that general shareholders read an annual report at least moderately except value added statement, chairman's review, director's report and rumor. This study recommends human resource should be developed through adequate training, and annual reports should provide transparent and quality information which will ultimately increase the confidence of investors.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.9
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• pp.251-261
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• 2020

The paper examines the role of some determinants of economics, politics and institutions on the budget deficit volatility in some countries of the Association of South East Asian Nations (ASEAN) such as Indonesia, Thailand and Vietnam. The paper uses the fixed effects model (FEM) and the random effects model (REM) to investigate panel data of these countries in the period of 1990-2018. Moreover, the study also explores ordinary least square (OLS) to analyze time-series data for each country in the same period to make comparison among them. The economic data is collected from international financial statistics and world development indicators. The data on political variables are collected from International Country Risk Data Guide (ICRG). The empirical results both confirm that corruption and political stability are important indicators of budget deficit. Besides, the paper suggests authorities should pay more attention on improving the institutional setup of the economy in order to avoid high and unstable deficit. The findings offer new insight on the budget deficit in essence and suggest that the most important thing need to be done ahead is to strongly implement anti-corruption actions. By doing so, the status of budget deficit would be remarkably improved immediately.

• International Journal of Contents
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• v.16 no.3
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• pp.66-86
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• 2020

With the rapid growth of high-tech, the development of cultural and creative industries has gradually become the focus of national industrial development. With the proposal of China's "Belt and Road" strategy, the role of cultural and creative industries in the provinces and cities along the "Belt and Road" in the entire international trade is becoming increasingly critical. It is necessary to explore solutions to improve the competitiveness of China's cultural and creative industries, factoring the surrounding cities of the "Belt and Road" as an example. Thus, this paper proposes the six-element diamond model based on innovation capability and government support to render a comprehensive evaluation of the competitiveness of the cultural and creative industries in the 31 provinces and cities across the country. The results show that the overall competitiveness of the 18 provinces and cities along the "Belt and Road" cultural and creative industries is weak. Focusing on the 18 provinces and cities along the "Belt and Road", using the linear regression measurement model quantitative analysis, the four types of influencing factors affecting the development of the competitiveness of cultural and creative industries along the "Belt and Road" were obtained. Finally, according to the four types of influence, the competitiveness improvement plan is proposed from the four aspects: government role, consumption preference, industrial innovation ability, and the introduction of high-quality talent.

• Ocean and Polar Research
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• v.38 no.1
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• pp.71-79
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• 2016

In this study, we attempt to examine the economic impacts of the CCS marine geological storage demonstration project in Korea using Input-Output analysis utilizing the inter-industry relation table issued in 2013. In particular, this study defines the $CO_2$ ocean storage industry and then added the inter-industry relation table and treated the $CO_2$ ocean storage industry as exogenous. In addition, this study assumed two scenarios based on the means of $CO_2$ transport, which are pipe and ship. After defining the industry and scenarios, this study investigates the production-inducing effect, value added inducing effect, and employment-inducing effect of the industries associated with the $CO_2$ ocean storage industry based on a demand-driven model. The results pertaining to the scenarios are estimated as follows: total production-inducing effects, value added inducing effects, and employment-inducing effects are calculated as 1.9044 won, 1.2487 won and 16.7224 people/billion won, respectively. In addition, compared to other industries, the indirect economic impacts of the $CO_2$ ocean storage industry are ranked high: the rankings of production-inducing effects, value added inducing effects, and employment-inducing effects are fourth, second, and fifth, respectively.

• Environmental and Resource Economics Review
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• v.26 no.3
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• pp.319-357
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• 2017

The pillar of the Paris Agreement, which will define the efforts of the international community against climate change since 2020, is the INDCs submitted by each country. In this study, the INDCs of the major industrial and developing countries (EU, USA, Japan, China, India) and South Korea are reviewed and national circumstances are analyzed based on the status of industrial structure, power mix and GHG emissions. We will also present South Korea's strategies in future climate change negotiations. South Korea should ; find out the special differentiating factors favorable to Korea with which the international community can agree; and establish an interagency working group to prepare for the periodical renewal of the INDC.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.11
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• pp.607-617
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• 2020

This study investigates the causal relationship between public and private external debt and economic growth in developing countries. Our model includes 18 selected Asian developing and transition economies from 1995 thru 2019. We employ the dynamic heterogeneous panel data methods, pooled mean group (PMG), robust cross-sectional augmented autoregressive distributed lag (CS-ARDL), and pairwise panel causality test. The results of PMG and CS-ARDL show the existence of causality between external debt and economic growth both in the short-run and long-run. The pairwise Granger causality test found the bidirectional causal relationship runs from total external debt, public external debt, and private external debt to economic growth and economic growth to external debt. The results showed first the existence of causality in the short-run and long-run between external debt and economic growth and the second, bi-directional causality that runs from external debt to economic growth and economic growth to external debt. Both the dynamic models and robust estimator found the same inferences about the impact of main variables on economic growth in Asian developing and transition economies. The findings of this study suggest to assure debt management, investment in productive sectors, increase domestic savings, decrease external dependency, and focus on international trade.

• Journal of the Korea Safety Management & Science
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• v.12 no.4
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• pp.183-190
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• 2010

This paper selects length of berth, area of yard, unloading capacity and number of berth as the input indexes, and cargo turnover as output index to research the source of TFP(Total Factor Productivity) growth of 23 main ports in Korea. The major conclusions are as follows. The TFP of the trade ports in Korea is at the fluctuating stage, but it generally displays a rising trend, and it’s growth originate from the growth of technical efficiency. The Growth rates of TFP of trade ports in the different areas are different, and the sources of growth are also different, but the changing trends are basically the same. Four major factors to the increase of TFP are following: competition between ports, reform of property system, harbor-hinterland economic and international trade, modeling, imitation and innovation in management, technology and system.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.10
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• pp.23-34
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• 2020

The paper revisits the author's previous paper to examine short-run and long-run dynamic relationships between macroeconomic variables and stock prices in Korea. The data is updated to the period for which monthly data are available from January 1986 to June 2018 (390 observations) retrieved from the Bank of Korea. The results of Johansen cointegration test indicate that at least one cointegrating equation exists, confirming there is a long-run equilibrium relationship between macroeconomic variables and stock prices in Korea. The results of vector error correction estimates confirm that: 1) the coefficient of the error correction term is significant with a negative sign, which is, a long-run dynamic relationship is observed between macroeconomic variables and stock prices; 2) for short-run dynamics, the nominal exchange rate of the Korean won per the US dollar is positively related to stock prices, while interest rates are negatively related to stock prices in the short-run; 3) the coefficient of global financial crises is insignificant, that is, the changes of stock prices are determined largely by their own dynamics in the model. The results suggest only that the global financial crises neither cause instability in the cointegrating vector, nor affect significant changes in the endogenous variables in the model.

• Journal of Korea Trade
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• v.25 no.4
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• pp.60-87
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• 2021

Purpose - This study examines the role of e-commerce resulting from technological innovation as a new approach toward internationalization. We study the relationship between e-commerce export and country distance, measured in CAGE distance, which has hindered traditional internationalization. As a control variable, entrepreneurship was introduced to check the moderating effect on the relationship between country distance and e-commerce export. Design/methodology - Based on empirical analysis, e-commerce exports from the Republic of Korea to 96 countries were used as dependent variables. First, hierarchical regression analysis was conducted to test the hypothesis about each country's distance, measured by CAGE distance, and each dimension of CAGE, on e-commerce exports. Next, the hypothesis was tested through the interaction term to examine the moderating effect of entrepreneurship. Findings - The analysis showed that the hypothesis, which postulated e-commerce exports as affected negatively by the country's distance, was supported but not that all CAGE dimensions affected it. Specifically, geographical distance and economic distance have negative effects, but cultural distance and administrative distance did not affect e-commerce exports. Thus, in contrast to the expectation that distance restrictions in e-commerce would not exist, this study confirmed that distance still matters to internationalization and that entrepreneurship can mitigate the adverse effects. Originality/value - Through these results, when export firms try to enter new markets and start internationalization through e-commerce, the entrepreneurship of the importing country should be considered.