• Journal of Korea Port Economic Association
• /
• v.37 no.4
• /
• pp.145-160
• /
• 2021

This study attempted to analyze the trade in goods effect of the Korea-ASEAN FTA by using logistics performance index, which are evaluation indicators of logistics industry workers on the logistics environment and logistics system in international trade. The World Bank's logistics performance index are six indicators: customs clearance, logistics infra, ease of shipment, logistics services, goods tracking abilities, and on-time transportation. The purpose of this study was to examine how it affects commodity trade between Korea and ASEAN states using the gravity model using panel data. Through this, it was confirmed that logistics performance index affect the increase in commodity trade.

• The Journal of Economics, Marketing and Management
• /
• v.6 no.3
• /
• pp.1-9
• /
• 2018

Purpose - Current society is competitive society. Rules of the game is applied to every kind of aspects not only business but also academic matters. This research is to analyze competitiveness between China and USA by use of trade related data together with revealed comparative advantage index(RCA) including trade specialization index(TSI). Research design, data, methodology - Per economic phase, both China-USA have mutually complementary character. That's why it is significant to analyze this 2 country's important industry. From our economic viewpoint, Both 2 economic powers should cooperate to achieve partnership in the steel business industry under the severe business competition. Results - This paper will provide which country is more comparatively advantage in case international business is held. Especially, steel industry is in a sense technology related business. Therefore, tied-up up-to-date advanced know-how and technology should be developed to be a leader for one of major industries in the world market. Conclusion - Among those various phenomena, this paper categorizes international business and research boundary is international trade contract. It is available to find out how to cooperate securing permanent and reliable business provider and supplier is essential and eminent for the successful accomplishment in the world steel market.

• Journal of Arbitration Studies
• /
• v.16 no.1
• /
• pp.3-44
• /
• 2006

Arbitration, which involves a final determination of disputes, has elements of the judicial process. Although an alternative to formal court litigation, it does not replace it in all aspect, but rather coexists with court procedure as an adjunct and part of administering justice. As the international trade has the basic problems of business managed between the parties of other countries having different laws, customs, cultures, currencies and religions. It has been known that these defects caused the commercial disputes and suspended economic fluence in world economic development through the foreign business. The United Nations launched 'the United Nations Convention on the Enforcement and Recognition of the Foreign Arbitral Awards' in 1958 to give effect to the international commercial arbitration. However, the convention has the limitation in excluding the legal obstacles originated from domestic arbitration systems of every states. As the result, the UN succeeded in making world wide arbitration law named 'The UN Model Law on International Commercial Arbitration' in 1983 and recommended all member countries to accept it to revise their domestic arbitration laws thereafter. Korea revised national arbitration law accepting 100% of the model law in 2000. In this respect korea became to have the international dispute settlement system. Korea will be able to settle more business disputes arisen from the international trade and enjoy the world credibility through the new arbitration system.

• East Asian Journal of Business Economics (EAJBE)
• /
• v.6 no.1
• /
• pp.31-41
• /
• 2018

Purpose - The main target to do this analysis is to find out the competitiveness between 2 countries (China and USA) in the aircraft business industry. The main target about mentioned research is to find out how a certain country takes more advantage against the other partner country in the country's trade structure. Research design, data, and methodology - Mentioned research period ranges from 1995 to 2016. Research basic data are coming from UN COMTRADE database which is top of top in the world statistical data and Research methods are used 3 types of international trade related theory for credible data outcomes. Results - Even though general data about aircraft industry are open to world society, detailed classified data are not easy to get them. Generally, Both China & USA are not easy to obtain data especially, in the overseas production field as a business secret which is one of research limitation in every research scopes. Conclusions - Even though Chinese aircraft industry looks like strong and more advantage against those of other countries based on competitive labor work wages and low price of raw material and resources, Actually, USA has overwhelmingly dominant advantage against that of China in the field of aircraft industry because USA has abundant capitals and up-to-date advanced high-technology as top of world economic communities. Additionally, even if USA aircraft industries hold a dominant position so far, if USA proposes sound competition relationship with China about aircraft industry, both 2 countries' future will be bright as their cooperation will make synergy effects for mutual benefits under current circumstances in 2 countries.

• East Asian Economic Review
• /
• v.26 no.1
• /
• pp.27-48
• /
• 2022

In the past decade, Korea and Japan have increasingly exhibited different strategic priorities in trade in face of China's rising global economic prowess and worsening US-China trade conflict. Japan's trade policy decisions have worked to reinforce its economic and security ties with the US as a means to counter China. Japan has used both bilateral and multilateral means to secure its ties with the US against China. In contrast, Korea's trade policy positions have been one of 'strategic ambiguity'. Korea has been more conciliatory towards China, reluctant to take actions that would counter China's interest. Korea has mainly resorted to bilateral channels to maintain favorable relations with both China and the US. Korea's reluctance to clearly ally with the US against China has been observed across different administrations with opposing political orientations. This paper examines Korea and Japan's diverging strategic priorities in trade through the 2017 World Trade Organization Ministerial Conference; the 2017 US imposition of Section 232 on steel; the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, the Korea-US FTA renegotiation and the Korea-China FTA Phase Two Negotiation; and the 2019 Japan-US Trade Agreement.

• Korea Trade Review
• /
• v.42 no.6
• /
• pp.111-129
• /
• 2017

According to the World Bank statistics, China's contribution to global economic growth during the year of 2013-2016 was estimated at 31.6 percent. This figure is even larger than 29.0 percent, the contribution by summing each contribution of the United States, EU and Japan. The Chinese commodity trade accounts for up to 11.5 percent of world trade volume. Thus, we can consider that the Chinese economy has a strong influence on the global economy. The primary purpose of this study is to analyze the contribution level of Chinese seaborne trade volume on world economy. First, this study conducted a time-lag analysis using Moran test, so we can find that China's level of contribution to global economic growth varies from time to time. The contribution of the first phase (1999-2007) was nearly three times higher than the contributions from the second phase (2008-2016), suggesting that the overall contraction of the global trade volume starting from the subprime mortgage crisis in 2008 has continued until recently and recovery has not even occurred. Second, using the econometrics model, this study conducted an regression analysis of the impact of Chinese imports and exports in chemicals, grain, steel, crude oil, and container on global economic growth. Fixed effects model with time series data has been applied to examine the effect of Chinese seaborne trade volume on global economic growth. According to the empirical analysis of this study, China's exports of steel products, exports of container, imports of containers, imports of crude oil and imports of grain have significant contributions to global economic growth. Estimates of China's exports of steel products, exports of container, imports of containers, imports of crude oil and imports of grain are 1.023, 1.020, 1.019, 1.007 and 1.006, respectively. For example, the estimated value 1.023 of China's exports of steel products means that the growth rate can be 1.023 times higher than the current world GDP growth rate if Chinese seaborne trade volume of exports of steel products increased by one unit (one million tons). This study concludes that the expansion of China's imports and exports should be realized first to increase the global GDP growth rate. The expansion of Chinese trade can lead to a simultaneous stimulus of production and consumption in China, which can even lead to global economic growth ultimately. Thus, depending on how much China's trade will be broaden in the future, the width of global economic growth can be determined.

• International Commerce and Information Review
• /
• v.14 no.3
• /
• pp.407-428
• /
• 2012

Service trade is very important in Korea Economy. The world economy is changing with the FTA. Lots of FTAs are going on between countries and economic blocs in the world economy, as the battle field of FTA. Therefore, Service trade should be activated in FTA. The conclusion of this study are as follow. First of all, the government quickly create a service-related laws. and establish the principles and criteria for recognition systems. Also, Exports should change developed countries. and the government should establish a policy for attracting investment to expand overseas markets in FTA. The field of service trade is very important for the growth of the Korea Trade. If we neglect to increase the competitiveness of service trade, we can not expect the growth of the Korea trade. We should strive to strengthen the competitiveness of service trade.

• Journal of Dairy Science and Biotechnology
• /
• v.14 no.1
• /
• pp.1-15
• /
• 1996

With the starting of Uruguay Round(UR) and World Trade Organization(WTO), the direction of trade in world market has been setting up with the beginning of an opening age. However, world nations has been expressed a deep concern on the marketing and the circulations of unsafe foods, especially in the international trade of food products. Therefore, administration of most countries are taking a firm step on the safety of imported food products. The implementation of hazard analysis critical control point(HACCP) system in food industry is strongly appeared on the world stage at this point. Major international organizations, such as WHO, WTO, and EC have been recognized the importance of HACCP and already documented on their future plan for standardization of food safety in the international trade of food products by means of the this system. Several advanced countries have already developed HACCP system for the food industry and have been producing food products under this system. Now they have proposed rulemakings on a mandatory HACCP program in the production of domestic and imported food products. However, with the lacking of knowledge and information on the HACCP, there has been no actions for applying this system in the food industry of Korea. It is a very clear fact that Korean dairy and food industry will be faced on serious problems in exporting food products without applying HACCP system in the very near future. The objective of this article is to introduce the world trend. necessity, and application of HACCP system in food and dairy industry. Also a HACCP system developed by one dairy processing plant in Europe will be demonstrated as a moldel system.

• The Journal of Asian Finance, Economics and Business
• /
• v.5 no.4
• /
• pp.95-100
• /
• 2018

The study investigates the factors that affect Kyrgyzstan's bilateral trade flows with its main trading partners and attempts to predict trade potential for Kyrgyzstan. Using panel data, the gravity model is applied to estimate Kyrgyzstan's trade from 2000 to 2016 for its 35 main trading partners. The coefficients derived from the gravity-model estimation are then used to predict trade potential for Kyrgyzstan. Results proved to be successful and explained 63% of the fluctuations in Kyrgyzstan's trade. According to the results, Kyrgyzstan's and its partners' GDP have a positive effect on trade, while distance and partners' population prove to have a negative effect. Predicted trade potential reveals that neighboring countries (China, Kazakhstan, Uzbekistan, and Tajikistan) and Russia still have a significant trade potential. Kyrgyzstan, being a less developed economy, even by Central Asia standards, can only achieve its goals of reducing poverty and becoming more developed by increasing its overall trade with the rest of the world. Therefore, it is essential to study the main determinants of Kyrgyzstan's bilateral trade. In this way, we can help policy makers formulate policies to expand Kyrgyzstan's trade. This study is the first attempt to apply to the gravity model to Kyrgyzstan in an attempt to predict trade potential.

• Korea Trade Review
• /
• v.46 no.6
• /
• pp.21-38
• /
• 2021

China adopts the "Outline of the 14th Five-Year Plan for National Economic and Social Development of the People's Republic of China and the Long-Range Objectives Through the Year 2035" in the context of tremendous changes in the international environment. A new development paradigm is proposed to prioritize domestic circulation, reinforcing both domestic and international circulations. The industrial policies of China's "14th Five-Year Plan" will have an impact on Korea. Thus it is necessary for Korea to cooperate with China to actively respond to changes in the industrial chains and value chains in Asia and the world. Over the past 29 years since the establishment of diplomatic relation between China and South Korea, the two countries have enjoyed close economic and trade relations. China-ROK cooperation is critical to regional economic development in the Fourth Industrial Revolution and the era of remarkable changes in the world's political and economic structure. China is a robust developing country, while Korea is a developed one in with steady foothold in the world economy. China and South Korea should work together to contribute to the rapid recovery and development of the world economy instead of becoming competitors.