Pub Date : 2023-06-30DOI: 10.16980/jitc.19.3.202306.277
Jeong-soo Son
Purpose – This study proposes a strategic direction to respond to deglobalization and trends that are changing due to COVID-19, the war in Ukraine, disruptive factors in the global supply chain, and domestic-centered supply chain establishment, and identifies changes in the global supply chain and the environment to respond. Design/Methodology/Approach – This study analyzes the changes in and structural characteristics of the global value chain, and develops case studies and related policies for the promotion and value of the urban mining industry as a countermeasure to solve problems in Korea through supply chain management. Findings – Utilizing the advantages of urban mining in Korea, the urban mining industry was selected as a strategic industry development plan to create an industrial cluster that encompasses the relevant public sector, research institutes, and companies at each stage of the industry. Research Implications – Through this study, it is possible to preemptively respond to the crisis by preparing an alternative to supply chain risk, and to secure and operate resources through the vitalization of the urban mining industry, which is the most realistic and long-term alternative. It will be possible to review the advantages and strategic development of the urban mining industry, job creation, and development of social enterprises by separately fostering the private and public sectors.
{"title":"A Study on the Establishment of a New Supply Chain and Risk Management According to the Global Transition Period: Focusing on the Urban Mining Industry","authors":"Jeong-soo Son","doi":"10.16980/jitc.19.3.202306.277","DOIUrl":"https://doi.org/10.16980/jitc.19.3.202306.277","url":null,"abstract":"Purpose – This study proposes a strategic direction to respond to deglobalization and trends that are changing due to COVID-19, the war in Ukraine, disruptive factors in the global supply chain, and domestic-centered supply chain establishment, and identifies changes in the global supply chain and the environment to respond. Design/Methodology/Approach – This study analyzes the changes in and structural characteristics of the global value chain, and develops case studies and related policies for the promotion and value of the urban mining industry as a countermeasure to solve problems in Korea through supply chain management. Findings – Utilizing the advantages of urban mining in Korea, the urban mining industry was selected as a strategic industry development plan to create an industrial cluster that encompasses the relevant public sector, research institutes, and companies at each stage of the industry. Research Implications – Through this study, it is possible to preemptively respond to the crisis by preparing an alternative to supply chain risk, and to secure and operate resources through the vitalization of the urban mining industry, which is the most realistic and long-term alternative. It will be possible to review the advantages and strategic development of the urban mining industry, job creation, and development of social enterprises by separately fostering the private and public sectors.","PeriodicalId":166989,"journal":{"name":"Korea International Trade Research Institute","volume":"15 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116691526","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-06-30DOI: 10.16980/jitc.19.3.202306.1
Lijiang Wang, Uprasen Utai, Qingmei Li
Purpose – The purpose of this paper is to analyze the mediated moderation role of foreign direct investment inflows (FDI), along with technological innovation (TI), in the relationship between investment in human capital (IHC) and the green economy, which is often ignored in current literature. Design/Methodology/Approach – In order to estimate the mediated moderating effect of TI and FDI on the nexus of IHC and the green economy, we use principle component analysis (PCA) to create a green economy index (GEI) by first selecting 15 relevant variables. Furtherly, the data analyzed covers 33 OECD nations from 2005 to 2018 using a Generalized Method of Moments (GMM) model. Findings – This paper demonstrates that while FDI positively moderates the relationship between IHC and the green economy, the positive role of FDI can be hindered by TI as a mediating variable in OECD countries. The empirical result reveals a U-shaped association between IHC and the green economy. Moreover, we also explain the joint effect of FDI and IHC on TI in OECD countries. FDI shows a negative role in the impact of IHC on TI. Research Implications – This paper puts forward dialectical thinking to view the impact of human capital investment on the green economy, and suggests that governments should view role of IHC in the green economy dialectically, plus adequately utilize its promotional role to address associated risks. The findings can support decision makers in how to use IHC precisely to achieve the goal of sustainable development.
{"title":"Mediated Moderation Analysis in the Nexus of Investment in Human Capital and the Green Economy","authors":"Lijiang Wang, Uprasen Utai, Qingmei Li","doi":"10.16980/jitc.19.3.202306.1","DOIUrl":"https://doi.org/10.16980/jitc.19.3.202306.1","url":null,"abstract":"Purpose – The purpose of this paper is to analyze the mediated moderation role of foreign direct investment inflows (FDI), along with technological innovation (TI), in the relationship between investment in human capital (IHC) and the green economy, which is often ignored in current literature. Design/Methodology/Approach – In order to estimate the mediated moderating effect of TI and FDI on the nexus of IHC and the green economy, we use principle component analysis (PCA) to create a green economy index (GEI) by first selecting 15 relevant variables. Furtherly, the data analyzed covers 33 OECD nations from 2005 to 2018 using a Generalized Method of Moments (GMM) model. Findings – This paper demonstrates that while FDI positively moderates the relationship between IHC and the green economy, the positive role of FDI can be hindered by TI as a mediating variable in OECD countries. The empirical result reveals a U-shaped association between IHC and the green economy. Moreover, we also explain the joint effect of FDI and IHC on TI in OECD countries. FDI shows a negative role in the impact of IHC on TI. Research Implications – This paper puts forward dialectical thinking to view the impact of human capital investment on the green economy, and suggests that governments should view role of IHC in the green economy dialectically, plus adequately utilize its promotional role to address associated risks. The findings can support decision makers in how to use IHC precisely to achieve the goal of sustainable development.","PeriodicalId":166989,"journal":{"name":"Korea International Trade Research Institute","volume":"2 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123744914","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-06-30DOI: 10.16980/jitc.19.3.202306.99
Sun-Young Sin, Kwang-Bae Lee, Soo-won Mo, Cheol Lee
Purpose – This paper aims to investigate the export competitiveness of the Korean HS 9031 product group from 2016 to 2021 by adopting two constant market share models. Design/Methodology/Approach – This study utilizes two constant market share models, CMSA and CMSB. CMSA consists of disaggregating export growth into three main components. These components are referred to as the national growth component, the product component, and the trading country component. CMSB decomposes the total effect into the scale effect, the competitiveness effect, and the cross effect. All data used in this study were taken from the UN Comtrade database and the Korea International Trade Association database for four digit HS items. Findings – This study shows that Korea has a competitive edge over Vietnam, the United States, Taiwan, and Mexico in the domestic market, but has a competitive disadvantage in their import markets, while for India, Korea has competitive edge at home, but has a competitive disadvantage in India’s market. Research Implications – The analysis suggests that approaches and policies that focus on import market share rather than a competitive edge in the domestic market are needed.
{"title":"Analysis of the Export Changes of Korea’s HS9031 Products Using a Constant Market Share Model","authors":"Sun-Young Sin, Kwang-Bae Lee, Soo-won Mo, Cheol Lee","doi":"10.16980/jitc.19.3.202306.99","DOIUrl":"https://doi.org/10.16980/jitc.19.3.202306.99","url":null,"abstract":"Purpose – This paper aims to investigate the export competitiveness of the Korean HS 9031 product group from 2016 to 2021 by adopting two constant market share models. Design/Methodology/Approach – This study utilizes two constant market share models, CMSA and CMSB. CMSA consists of disaggregating export growth into three main components. These components are referred to as the national growth component, the product component, and the trading country component. CMSB decomposes the total effect into the scale effect, the competitiveness effect, and the cross effect. All data used in this study were taken from the UN Comtrade database and the Korea International Trade Association database for four digit HS items. Findings – This study shows that Korea has a competitive edge over Vietnam, the United States, Taiwan, and Mexico in the domestic market, but has a competitive disadvantage in their import markets, while for India, Korea has competitive edge at home, but has a competitive disadvantage in India’s market. Research Implications – The analysis suggests that approaches and policies that focus on import market share rather than a competitive edge in the domestic market are needed.","PeriodicalId":166989,"journal":{"name":"Korea International Trade Research Institute","volume":"34 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129342847","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-06-30DOI: 10.16980/jitc.19.3.202306.293
Nak-hyun Han, D. Choi
Purpose – The purpose of this study is to suggest implications after analyzing Eiser v. Spain, and the impartiality and duty of disclosure of arbitrators in ICSID arbitration. Design/Methodology/Approach – In this study, in analyzing Eiser v. Spain, the literature analysis was mainly conducted using domestic and foreign related literature and Internet data. Findings – In 2017, Spain was ordered to pay Eiser €128 million on account of its failure to afford fair and equitable treatment. This award was subsequently annulled because the claimant-appointed arbitrator failed to disclose a professional relationship with the claimants’ damages expert, which led to, inter alia, the tribunal being improperly constituted. The full costs of the proceedings, including Spain’s legal fees and expenses, were shifted to Eiser. Research Implications – The Eiser Annulment Decision also casts doubt on the effectiveness of disclosure duties. Undisputedly, arbitrators must be neutral and must disclose facts or circumstances that may cloud their judgment. Many codes and rules specify that this duty is continuous. Yet, the vast majority of these instruments envisage no consequence for non-disclosure. This, coupled with the fact that arbitrators enjoy immunity from legal process pursuant to Article 21 of the ICSID Convention, leaves room for nonchalance when disclosing potential conflicts.
{"title":"A Study on the Impartiality and Duty of Disclosure of Arbitrators in ICSID Arbitration","authors":"Nak-hyun Han, D. Choi","doi":"10.16980/jitc.19.3.202306.293","DOIUrl":"https://doi.org/10.16980/jitc.19.3.202306.293","url":null,"abstract":"Purpose – The purpose of this study is to suggest implications after analyzing Eiser v. Spain, and the impartiality and duty of disclosure of arbitrators in ICSID arbitration. Design/Methodology/Approach – In this study, in analyzing Eiser v. Spain, the literature analysis was mainly conducted using domestic and foreign related literature and Internet data. Findings – In 2017, Spain was ordered to pay Eiser €128 million on account of its failure to afford fair and equitable treatment. This award was subsequently annulled because the claimant-appointed arbitrator failed to disclose a professional relationship with the claimants’ damages expert, which led to, inter alia, the tribunal being improperly constituted. The full costs of the proceedings, including Spain’s legal fees and expenses, were shifted to Eiser. Research Implications – The Eiser Annulment Decision also casts doubt on the effectiveness of disclosure duties. Undisputedly, arbitrators must be neutral and must disclose facts or circumstances that may cloud their judgment. Many codes and rules specify that this duty is continuous. Yet, the vast majority of these instruments envisage no consequence for non-disclosure. This, coupled with the fact that arbitrators enjoy immunity from legal process pursuant to Article 21 of the ICSID Convention, leaves room for nonchalance when disclosing potential conflicts.","PeriodicalId":166989,"journal":{"name":"Korea International Trade Research Institute","volume":"7 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122273785","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-06-30DOI: 10.16980/jitc.19.3.202306.37
Kelly Liu, A. Bian
Purpose – This study attempts to analyze the dynamic relationship between the NFT index and macroeconomic factors, and make effective suggestions using research methods in the field of management finance. Design/Methodology/Approach – The study sample was from January 2020 to March 2023. The variables used in the analysis were based on monthly time series data, measured on the basis of the Metaverse–NFT Index (MVNX) index released by Wavebridge Limited in Korea to reflect the growth trend of the NFT market, money supply, US dollar–won exchange rate, gross domestic product, consumer price index, and other macroeconomic indicators. The analytical tools in this study included a unit root test based on the VAR model, the Johansen cointegration Test, Granger causality test, impulse response analysis, and variance decomposition. These methods are very effective in analyzing time series data. Findings – The results of the analysis show that macroeconomic factors, such as money supply, exchange rate, GDP, and consumer price index are important sources of information in predicting the NFT index. Research Implications – The results of this study are expected to provide practical information for NFT users, virtual asset trading platforms, investors, and policymakers related to NFT ecology. Furthermore, this study’s findings are of great significance, being the first global study to explore the relationship between NFTs and macroeconomic factors.
{"title":"The Dynamic Relationship between the NFT Index and Macroeconomic Factors in Korea","authors":"Kelly Liu, A. Bian","doi":"10.16980/jitc.19.3.202306.37","DOIUrl":"https://doi.org/10.16980/jitc.19.3.202306.37","url":null,"abstract":"Purpose – This study attempts to analyze the dynamic relationship between the NFT index and macroeconomic factors, and make effective suggestions using research methods in the field of management finance. Design/Methodology/Approach – The study sample was from January 2020 to March 2023. The variables used in the analysis were based on monthly time series data, measured on the basis of the Metaverse–NFT Index (MVNX) index released by Wavebridge Limited in Korea to reflect the growth trend of the NFT market, money supply, US dollar–won exchange rate, gross domestic product, consumer price index, and other macroeconomic indicators. The analytical tools in this study included a unit root test based on the VAR model, the Johansen cointegration Test, Granger causality test, impulse response analysis, and variance decomposition. These methods are very effective in analyzing time series data. Findings – The results of the analysis show that macroeconomic factors, such as money supply, exchange rate, GDP, and consumer price index are important sources of information in predicting the NFT index. Research Implications – The results of this study are expected to provide practical information for NFT users, virtual asset trading platforms, investors, and policymakers related to NFT ecology. Furthermore, this study’s findings are of great significance, being the first global study to explore the relationship between NFTs and macroeconomic factors.","PeriodicalId":166989,"journal":{"name":"Korea International Trade Research Institute","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129010071","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-06-30DOI: 10.16980/jitc.19.3.202306.145
Eun-Hye Yun, Yoon-Say Jeong
Purpose – This study aims to analyze the impact based on the latest Technical Barriers to Trade from the Chinese government in the cosmetics industry, which is heavily dependent on exports to China, and discovers estimated difficulties to continue imports under new regulations. Design/Methodology/Approach – This study compared the cosmetic regulations and import standards of three major cosmetic importing countries. It was conducted through a literature review, especially in new regulations, Cosmetics Supervision, and Administration Regulations from China. Findings – First, it highlighted the challenges that Korean exporters face due to the different regulatory standards for cosmetics in different countries. The new ordinances required excessive information disclosure, product efficacy evaluation reports, and localization using only Chinese local laboratories. These requirements could cause duplicate inspections, leak core technology, and hinder the technological development and quality improvement of the cosmetics industry. Lastly, the absence of clarity on the basis and standards for protecting the safety data of cosmetic ingredients adds to the registration burden for companies to continue exporting. Research Implications – Korean cosmetics exporters are firmly positioned in the Chinese market with experience and world-class technology, but new Chinese Cosmetics Supervision and Administration Ordinance may impact export values. However, there is currently insufficient data to measure the impact of the ordinance. To become the world’s top cosmetics exporter, the Korean cosmetics industry needs a gradual approach to resolve China’s import regulations, and close cooperation between exporters and government agencies is essential. Future analysis may be possible with more quantitative data.
{"title":"A Study of New Chinese Cosmetic Product Registration: Focusing on Technical Regulations for Pre-Market Approval","authors":"Eun-Hye Yun, Yoon-Say Jeong","doi":"10.16980/jitc.19.3.202306.145","DOIUrl":"https://doi.org/10.16980/jitc.19.3.202306.145","url":null,"abstract":"Purpose – This study aims to analyze the impact based on the latest Technical Barriers to Trade from the Chinese government in the cosmetics industry, which is heavily dependent on exports to China, and discovers estimated difficulties to continue imports under new regulations. Design/Methodology/Approach – This study compared the cosmetic regulations and import standards of three major cosmetic importing countries. It was conducted through a literature review, especially in new regulations, Cosmetics Supervision, and Administration Regulations from China. Findings – First, it highlighted the challenges that Korean exporters face due to the different regulatory standards for cosmetics in different countries. The new ordinances required excessive information disclosure, product efficacy evaluation reports, and localization using only Chinese local laboratories. These requirements could cause duplicate inspections, leak core technology, and hinder the technological development and quality improvement of the cosmetics industry. Lastly, the absence of clarity on the basis and standards for protecting the safety data of cosmetic ingredients adds to the registration burden for companies to continue exporting. Research Implications – Korean cosmetics exporters are firmly positioned in the Chinese market with experience and world-class technology, but new Chinese Cosmetics Supervision and Administration Ordinance may impact export values. However, there is currently insufficient data to measure the impact of the ordinance. To become the world’s top cosmetics exporter, the Korean cosmetics industry needs a gradual approach to resolve China’s import regulations, and close cooperation between exporters and government agencies is essential. Future analysis may be possible with more quantitative data.","PeriodicalId":166989,"journal":{"name":"Korea International Trade Research Institute","volume":"27 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"117322678","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-06-30DOI: 10.16980/jitc.19.3.202306.115
Naying Zheng, Seong-Do Cho
Purpose – The purpose of this study is to verify the effects of brand crisis causes and brand personality types on negative emotions. This research investigates the different impacts of intentional and unintentional crisis causes on anger and disappointment. Furthermore, the differential impacts of sincere and exiting brands on anger and disappointment are analyzed. Design/Methodology/Approach – This study tests four hypotheses through experimental designs using different scenarios. In order to make a sincere brand personality an expression, ‘innocent and faithful’ is used in describing a company, and words such as challenging, liberal, and creative are used for making an existing brand personality. 249 participated, and 201 responses were analyzed, excluding unfaithful questionnaires. Findings – The results of the study show that an intentional cause brings about anger more strongly than disappointment. By contrast, an unintentional cause led to disappointment more than anger. A sincere brand’s crisis was associated more strongly with anger than disappointment, and an exciting brand’s crisis influenced disappointment more greatly than anger. Research Implications – In intentional brand crisis and sincere brand situations wherein anger was greater than disappointment, a prompt apology may be necessary before implementing specific compensation tactics. This is because it is crucial to rapidly mitigate the negative impact of intense anger. On the other hand, disappointment is a slower-moving emotion that arises from suboptimal performance. Therefore, compensatory tactics may be required to meet consumer expectations.
{"title":"The Effects of Brand Crisis on Consumer Negative Emotions: Focused on Crisis Causes and Brand Personality","authors":"Naying Zheng, Seong-Do Cho","doi":"10.16980/jitc.19.3.202306.115","DOIUrl":"https://doi.org/10.16980/jitc.19.3.202306.115","url":null,"abstract":"Purpose – The purpose of this study is to verify the effects of brand crisis causes and brand personality types on negative emotions. This research investigates the different impacts of intentional and unintentional crisis causes on anger and disappointment. Furthermore, the differential impacts of sincere and exiting brands on anger and disappointment are analyzed. Design/Methodology/Approach – This study tests four hypotheses through experimental designs using different scenarios. In order to make a sincere brand personality an expression, ‘innocent and faithful’ is used in describing a company, and words such as challenging, liberal, and creative are used for making an existing brand personality. 249 participated, and 201 responses were analyzed, excluding unfaithful questionnaires. Findings – The results of the study show that an intentional cause brings about anger more strongly than disappointment. By contrast, an unintentional cause led to disappointment more than anger. A sincere brand’s crisis was associated more strongly with anger than disappointment, and an exciting brand’s crisis influenced disappointment more greatly than anger. Research Implications – In intentional brand crisis and sincere brand situations wherein anger was greater than disappointment, a prompt apology may be necessary before implementing specific compensation tactics. This is because it is crucial to rapidly mitigate the negative impact of intense anger. On the other hand, disappointment is a slower-moving emotion that arises from suboptimal performance. Therefore, compensatory tactics may be required to meet consumer expectations.","PeriodicalId":166989,"journal":{"name":"Korea International Trade Research Institute","volume":"29 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125880383","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-06-30DOI: 10.16980/jitc.19.3.202306.81
Yuan Hua, Ji-Eun Park, Xiao-hui Li
Purpose – The purpose of this paper is to analyze the green contradiction between China’s NEVs subsidy policies and WTO rules. It proposes resolutions for China and South Korea from the perspective of GATT Article 20 and the US New Climate Bill. Design/Methodology/Approach – Based on the investigation of NEVs in the market, this paper finds that relevant effective subsidy measures can promote China’s NEVs development. Moreover, through case study and literature, this paper also analyzes the compliance of China’s NEVs subsidy measures under the SCM Agreement. Finally, it puts forward relevant implications for the NEVs development of China and South Korea. Findings – This paper studies credit preference, financing support and LCRs, which may be determined to be prohibited subsidies and production subsidies, Tax incentives and price support may be determined to be actionable subsidies. Subsidies for specific NEV enterprises or regions may be deemed to de jure or de facto specific subsidies with disordering global trade order. Research Implications – This study has far-reaching significance in promoting the reform of WTO related- subsidy regulations and formulating a special RE subsidy agreement under the multilateral trade system, which will resolve the conflicts of the environmental and energy trade under the background of low-carbon energy transition.
{"title":"Green Industrial Policy Conflict with WTO Rules and Implications for Emerging Economics: From the Perspective of New Energy Vehicles (NEVs)","authors":"Yuan Hua, Ji-Eun Park, Xiao-hui Li","doi":"10.16980/jitc.19.3.202306.81","DOIUrl":"https://doi.org/10.16980/jitc.19.3.202306.81","url":null,"abstract":"Purpose – The purpose of this paper is to analyze the green contradiction between China’s NEVs subsidy policies and WTO rules. It proposes resolutions for China and South Korea from the perspective of GATT Article 20 and the US New Climate Bill. Design/Methodology/Approach – Based on the investigation of NEVs in the market, this paper finds that relevant effective subsidy measures can promote China’s NEVs development. Moreover, through case study and literature, this paper also analyzes the compliance of China’s NEVs subsidy measures under the SCM Agreement. Finally, it puts forward relevant implications for the NEVs development of China and South Korea. Findings – This paper studies credit preference, financing support and LCRs, which may be determined to be prohibited subsidies and production subsidies, Tax incentives and price support may be determined to be actionable subsidies. Subsidies for specific NEV enterprises or regions may be deemed to de jure or de facto specific subsidies with disordering global trade order. Research Implications – This study has far-reaching significance in promoting the reform of WTO related- subsidy regulations and formulating a special RE subsidy agreement under the multilateral trade system, which will resolve the conflicts of the environmental and energy trade under the background of low-carbon energy transition.","PeriodicalId":166989,"journal":{"name":"Korea International Trade Research Institute","volume":"71 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126251590","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-06-30DOI: 10.16980/jitc.19.3.202306.195
Sun-Hwa Kim, Yong－Ki Jung
Purpose – This study analyzes the relationship between asymmetric cost behavior and greenhouse gas (GHG) regulation. This study examines cost behavior for cost of goods sold (CGS), selling, general and administrative cost (SG&AC), general and administrative cost (G&AC), and selling cost (SC). Design/Methodology/Approach – This study analyzes companies listed on the Korean Stock Exchange (KSE), and the analysis period is from 2011 to 2020. The sample taken for this study includes 5,120 firmyear observations. Findings – The main results are as follows. First, we find that when sales are decreased, the downward stickiness of CGS is accentuated in firm-related GHG regulation. This is interpreted as an increase in committed cost as much as idle resources due to an increase in facility investment to reduce GHG emissions. Second, this study demonstrates that the accentuation of the downward stickiness of CGS and G&AC by GHG regulation mainly occurs in owner manager firms. This study is the first in which GHG regulation affects asymmetric cost behavior. Research Implications – The results of this study will contribute to the development of corporate climate change strategies and government GHG regulation policy. This can provide a basis for market participants, such as financial analysts, in predicting the effect of GHG regulation on firm performance.
{"title":"The Effect of Greenhouse Gas Regulation on Asymmetric Cost Behavior","authors":"Sun-Hwa Kim, Yong－Ki Jung","doi":"10.16980/jitc.19.3.202306.195","DOIUrl":"https://doi.org/10.16980/jitc.19.3.202306.195","url":null,"abstract":"Purpose – This study analyzes the relationship between asymmetric cost behavior and greenhouse gas (GHG) regulation. This study examines cost behavior for cost of goods sold (CGS), selling, general and administrative cost (SG&AC), general and administrative cost (G&AC), and selling cost (SC). Design/Methodology/Approach – This study analyzes companies listed on the Korean Stock Exchange (KSE), and the analysis period is from 2011 to 2020. The sample taken for this study includes 5,120 firmyear observations. Findings – The main results are as follows. First, we find that when sales are decreased, the downward stickiness of CGS is accentuated in firm-related GHG regulation. This is interpreted as an increase in committed cost as much as idle resources due to an increase in facility investment to reduce GHG emissions. Second, this study demonstrates that the accentuation of the downward stickiness of CGS and G&AC by GHG regulation mainly occurs in owner manager firms. This study is the first in which GHG regulation affects asymmetric cost behavior. Research Implications – The results of this study will contribute to the development of corporate climate change strategies and government GHG regulation policy. This can provide a basis for market participants, such as financial analysts, in predicting the effect of GHG regulation on firm performance.","PeriodicalId":166989,"journal":{"name":"Korea International Trade Research Institute","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132637352","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-06-30DOI: 10.16980/jitc.19.3.202306.159
Sunghyoung Lee, Cheong-ghi Chun
Purpose – This is a study of the adjective law of the SPS Agreement, which has recently attracted attention in the field of the WTO SPS Agreement, and the purpose of this study is the interpretation of Art. 8 and Annex C. Design/Methodology/Approach – Although there are many ways to interpret the SPS Agreement, this study analyzed the arguments of the parties and the interpretations of the panel and appellate body that appeared through WTO dispute cases related to this provision. Findings – The main issues in disputes related to Art. 8 and Annex C of the SPS Agreement were related to the interpretation of 'unreasonable delay' and 'like products'. ‘Unreasonable delay’ is interpreted as ‘unreasonable delay’ or ‘excessive delay’. The Judgment Criteria was not the duration of the delay, but whether the reasons for the delay were justified. Regarding the interpretation of ‘like products’, in the case of Korea - Radionuclides (DS495), for the first time among disputes related to the SPS Agreement, the interpretation of like products was an issue. The panel and the Appellate Body applied the same criteria to SPS Agreement and GATT 1994 Art. 3(4). Research Implications – Since the entry into force of the WTO Agreement, most disputes of the SPS Agreement have been related to substantive law, but recently, disputes related to adjective law have increased. Therefore, compliance with procedural law is required when adopting SPS measures.
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