고려시대대일교류(高麗時代對日交流)와 부산(釜山)

이종봉 ( Lee Jong Bong ) 부경역사연구소 2004 지역과 역사 Vol.- No.15

This study is to examine the development of relations between Koryo and Japan and the exchange towards Japan in the Koryo dynasty. It may be briefly summed up as follows. First, relations between Koryo and Japan may be broadly divided into four phases. In the first phase, the period from the 10th century to the early 11th century, Koryo attempted to establish official diplomatic relations with Japan by dispatching envoys in Japan, but failed to advance relations between two countries owing to the Japanese reluctance to open the door to foreign intercourse and fear of the Koryo’s aggression. However in the second phase from the early 11th century to the end of 11th century, the Yozin(女眞) Doi ethnic’s(刀伊族) invasion of Japan renewed relations between two countries. At this time, Koryo and Japan returned castaways to their home country and dispatched envoys to each country as well. Especially, the Japanese traders carried on commercial transactions under the order of Palkwanhoi(八關會) in the Koryo dynasty. Although diplomatic relations between two countries were strained, because the Koryo’s patrol seized ship included in the Japanese crews in Yunpyung island in the end of 11th century, in the third phase also, the Koryo-Japan traders still made contact with each other. In the fourth phase, from the late 13th century to the fall of the Koryo dynasty, two countries had not a normal foreign relation but a invading spoiled relation. Secondly, as the Koryo’s relation towards Japan took a turn for the better and the exchange with Japan advanced in the early 11th century, the Koryo-Japan trade became active. And trading post where exchanged goods with Japan was KuemJoo(金州). At that time, Koryo had trade relation with Japan in private as well as in public. The business named Jinbong trade(進奉貿易) was an official one. Jinbong trade means that Koryo carried on commercial transactions under the order of Palkwanhoi(八關會) rather than under the order of Jogong(朝貢)․Chaekbong system (冊封體制) in East Asia. Like this, Jinbon trade went into effect partly from about the mid 11th century to the middle 13th century, even in the maelstrom of the struggle against Mongol invasion. On the other side, here were also somewhat of private trade with Japan. At this time, the fact that were castaways and traders returned to their home country proves that they smuggled goods without permission or abnormally. Thirdly, Kuemjoo(金州) in which located Gaekkwan(客館) was a commercial center in the Koryo trade with Japan. Gaekkwan(客館) in Kuemjoo(金州) was established as the house of the Japanese envoys and traders in the early 11th century, and took exclusive charge of the Koryo-Japan trade, unlike other Gaekkwan(客館) which were established in Seoul. Gaekkwan was managed under the control of Dongnamhaedobuseo(東南海都府署) which took charge of southeast coast, not local official in Kuemjoo(金州). The quarter of Dongnamhaedobuseo had originally located in Kyungjoo in the 22th year of King Taejo(太祖) regime, but was transferred to Kuemjoo owing to conditions at the location of relations between Koryo and Japan in the 32th year of King Moonjong(文宗) regime(1079). It is at present Gurangdong, Noksandong, Gangseogu, Busan metropolitan-city the place where Gaekkwan in Kuemjoo located. In conclusion, I suggest that the present Busan was a base of foreign trade on and from the Koryo dynasty.

The Peace Effects of Inter-Korean Trade and the Political-Economic Separation: Analysis of the Reciprocal Effects of Inter-Korean Relations and Inter-Korean Trade

김규철 한국개발연구원 2023 KDI Journal of Economic Policy (KDI JEP) Vol.45 No.3

This paper empirically examines the relationship between inter-Korean trade and inter-Korean relations over the past three decades. It asks two questions: (1) Does inter-Korean trade contribute to improved inter-Korean relations and peace on the Korean Peninsula? (2) Does improved inter-Korean relations lead to increased inter-Korean trade? The study employs a time-series causal relationship analysis methodology to answer these questions. The findings show that during the progressive government’s reign, inter-Korean trade was not impacted by inter-Korean relations. This is due to the implementation of a political-economic separation policy towards North Korea. Moreover, the increase in general trade and processing on commission did enhance inter-Korean relations, reflecting the “inclusive policy” aimed at achieving peace on the Korean Peninsula through inter-Korean trade. In contrast, during the conservative government’s reign, inter-Korean relations had a direct impact on inter-Korean trade, with deteriorating relations leading to a significant decrease in trade. This was due to the implementation of North Korea policies that were linked to politics and the economy.

The Influence of Sino-US Trade War on China-ROK Relations

Wu Jinfeng(Jinfeng Wu) 아시아사회과학학회 2023 Jornal of Asia Social Science Vol.10 No.1

For China and the United States, South Korea is an important trading partner, and it is also highly concerned about the Sino-US trade war. Because South Korea's economy relies heavily on the external environment, it has also been impacted to a certain extent by the Sino-US trade war. Although some studies believe that the Sino-US trade war has brought new development opportunities to South Korea, from a practical perspective, South Korea's gross domestic product, export trade, and stock market have been greatly impacted, especially by the intensified competition among big countries and the reshaping of global value chains brought about by the Sino-US trade war. With the intensification of the Sino-US trade war, both China and South Korea should think about how to reduce the influence of Sino-US relations and maintain the stability of Sino-Korean relations. Therefore, South Korea needs to actively adjust its economic policies, speed up the upgrading of its economic cooperation with China, take the initiative to seize the American market, and play a certain role in promoting regional multilateral economic cooperation and economic and trade diversification, especially avoiding taking sides between China and the United States. China, on the other hand, should strengthen its economic and political cooperation with South Korea so as to alleviate other countries' worries about Sino-US competition and the rise of China and thus realise the stable, healthy, and sustainable development of China-South Korea relations.

РАЗВИТИЕ РУССКО-КИТАЙСКИХ ТОРГОВЫХ ОТНОШЕНИЙ В XIX В.

Патапова Эдита Эдуардовна(E. E. Patapova) 경북대학교 러시아-유라시아 연구소 2020 러시아유라시아연구 Vol.3 No.1

The article is devoted to the study of the development of Russian-Chinese trade relations in the XIX century. For the first time, trade relations between Russia and China were established in 1727. However, by the XIX century, there were many unresolved issues in trade between the countries. The main problems were: the need to increase trading places, the expansion of land trade and the beginning of sea trade, and the increase in exports of Russian goods to Chinese markets. The author examines how Russian-Chinese treaties of the mid XIX century influenced the expansion of trade relations. The author alsostudies the main items of trade. The main export items were furs, Russian textile, and precious metals. The main import items wereChinese fabrics and tea. Trade between the two countries is seen as the basis for stability in bilateral relations.

한-중 수교 이후 무역구조 변화와 특징 분석: 수출경쟁력과 무역결합도를 중심으로

서창배 현대중국학회 2022 現代中國硏究 Vol.24 No.1

Since establishing diplomatic ties in 1992, Korea-China relations have been developing rapidly in various fields such as trade, investment, and people-to-people exchanges. In particular, Korea- China's merchandise trade increased 47 times from US$6.4 billion in 1992 to US$301.5 billion in 2021. And also, Korea-China trade relations had transformed from ‘Inter-industry trade’ to ‘intra-industry trade.’ Accordingly, this paper analyzes structural changes such as export competitiveness and trade intensity developed in the bilateral markets of Korea-China over the past 30 years since the establishment of Korea-China diplomatic relations. Based on this, we look back on the 30 years of the Korea-China trade relations through the structural characteristics of trade between the two countries according to the determinants of the trade structure and provide implications for enhancing Korea's manufacturing export competitiveness to China. To summarize the analysis results, first, in terms of export competitiveness, Korea has a comparative advantage in chemicals and chemical products,electrical and electronic equipment, and precision machinery. And China has a comparative advantage in food and beverage products, other manufacturing, textile products, and metal products. Second, in the case of intra-industry trade, in Korea, 'intra-industry trade' between Korea and China was the largest in the transport equipment sector, with textile products and other manufacturing in the 1990s and general machinery and metal products in the late 2000s. In China, 'intra-industry trade' between Korea and China was actively conducted in metal products and electrical/electronic equipment, textile products in the 1990s, and general machinery in the late 2000s. Third, in the case of trade intensity, it was found that trade intensity between the two countries was high in most industries after establishing Korea-China diplomatic relations. In particular, in China, the trade concentration of electric/ electronic products, chemicals, and chemical products was high. In Korea, transportation equipment and food and beverage products were highly concentrated. 한-중관계는 1992년 수교 이래 무역, 투자, 인적 교류 등 다양한 분야에서 비약적인 발전을 거듭하고 있다. 특히 한-중 상품무역은 1992년 64 억 달러에서 2021년 3,015억 달러를 기록함으로써 약 47배 증가하였고, ‘산업간 무역’은 ‘산업내 무역’ 형태로 전환되었다. 이에 본고는 한-중 수교 이후 지난 30년간 양국 상호시장에서 전개된 수출경쟁력과 무역결합도등의 구조적 변화를 분석하였다. 이러한 분석내용을 바탕으로 무역구조결정요인에 따른 양국 무역의 구조적 특징을 통해 한-중 무역관계 30년을 회고하는 한편, 한국의 對중국 제조업 수출경쟁력 제고를 위한 시사점을 제공하고자 한다. 분석 결과를 요약하면, 첫째, 수출경쟁력의 경우, 한국은 화학물질 및 화학제품, 전기・전자제품, 정밀기기 등이, 중국은 음식료품과 기타제조품, 섬유제품, 금속제품 등에서 비교우위를 보이고 있다. 둘째, 산업내 무역의 경우, 한국 시장에서 한-중간 산업내 무역은 수송기기 분야에서 가장 크게 나타났으며, 섬유제품과 기타제조품은 1990년대에, 일반기계와 금속제품은 2000년대 후반에 산업내 무역이 나타났다. 중국 시장에서는 금속제품과 전기・전자제품에서 한-중간 산업내 무역이 활발히 이루어지고 있으며, 섬유제품은 1990년대에, 일반기계는 2000년대후반에 산업내 무역이 나타났다. 셋째, 무역결합도의 경우, 한-중 수교 이후 대다수 산업에서 양국 간 무역긴밀도가 높은 것으로 나타났다. 특히중국 시장에서는 전기・전자제품, 화학물질 및 화학제품이, 한국 시장에서는 수송기기, 음식료품의 무역집중도가 높게 나타났다.

4차 산업혁명에 대응하는 무역교육을 위한 학회의 역할 제고 방안

유광현,방성철 한국통상정보학회 2022 통상정보연구 Vol.24 No.3

Trade combined with the 4th industrial revolution technologies such as AI, big data, and blockchain is undergoing a transition from traditional trade to digital trade. In particular, COVID-19 has further accelerated the development of digital technology, resulting in many changes in trade products and trade methods. It is not easy to achieve 2 trillion dollars in Korea's trade scale, which has been stagnant in the midst of such changes in the trade environment. Therefore, it is necessary to nurture trade manpower who can preemptively respond to changes in the domestic and global trade environment, such as the transition to digital trade and the expansion of service trade for high added value of exports. Specifically, it is necessary to nurture trade manpower who can recognize not only trade practices based on trade knowledge, but also ideas and innovative technologies suitable for the era of the 4th industrial revolution, and create overseas markets through networks Therefore, this study intends to propose a new paradigm of trade practice education for nurturing trade manpower who can respond to changes in the domestic and foreign trade environment and the spread of the 4th industrial revolution technology at the present time. To this end, we intend to redefine the trade manpower and necessary competencies to respond to changes in the current trade environment. In addition, based on this, concrete measures were presented along with the necessity of enhancing the role of trade-related societies in seeking a new paradigm for trade practice education.

중국의 무역관련 환경규제조치

이은섭;최홍실 법무부 2006 통상법률 Vol.- No.72

경제글로벌화와 자유무역의 확대는 무역과 환경문제를 국제사회의 주요이슈로 등장시켰으며 무역과 환경을 어떻게 조화할 것인가는 오늘날 중국을 비롯한 각 국 정부가 직면한 심각한 과제로 부각되었다. 중국은 WTO가입 후, 국제시장 진입과정에서 국제사회의 무역관련 환경규제조치의 광범위한 적용을 받고 있어, 이에 대한 적절한 정책적 대응은 중국의 대외무역의 발전을 위한 필수조건으로서 중국정부와 기업이 직면한 절박한 과제이다. 본 논문은 먼저 무역관련 환경규제조치의 이론적 분석을 그 생성원인, 특징, 유형 등을 중심으로 다룬 다음 중국의 현행 환경세, 환경라벨제도, 강제인증제도, 동식물위생검역제도, 기술규제 등 무역관련 환경규제조치의 현황을 검토하여 그 문제점을 찾아낸 다음 마지막으로 WTO체제하에서 적합한 중국의 무역관련 환경규제조치의 개선방향을 제시하고 있다. 본 논문은 중국이 객관적이고 공정한 입장에서 무역관련 환경규제조치를 입안․시행하고 WTO 관련 규정을 합목적적으로 반영시킴과 동시에 적극적으로 관련 국제법제정에 참여하고 무역환경분쟁 발생 시에는 가능한 한 WTO분쟁해결기구의 이용이 바람직함을 제시하고 있다. With the deepening globalization of world economy and trade, the relationship between trade and environment has attracted world wide attention in recent years. Harmonization of trade and environment has been found urgent and important by the governments all over the world. After having entered into the WTO, Chinese products designed to enter into the international market, shall meet the requirements of trade-related environmental measures under the WTO provisions as well as importing countries' domestic regulations. Considering the gradual environmental aggravation and the growing trade dispute with the trade partner countries in china, it is required to harmonize the trade-related environmental measures with the principle of free trade under the WTO as soon as possible. The fact that unresolved environmental problems can use up all the profits from the trade liberalization in China urges them to build the system to impose timely and efficiently trade measures related to environment. This article examines the Chinese trade-related environmental measures under the WTO mechanism and suggests the more efficient operation of trade-related environmental measures in China for the harmonization with the free trade principle of WTO.

The Effect of Trade Agreements on Korea’s Bilateral Trade Volume: Mitigating the Impact of Economic Uncertainty in Trading Countries

박희대,안지영 한국무역학회 2023 Journal of Korea trade Vol.27 No.5

Purpose – This research empirically analyzes the influence of economic policy uncertainty and free trade agreements (FTAs) on bilateral trade volumes between Korea and its trading partners. The study investigates whether fluctuations in the Economic Policy Uncertainty Index (EPUI) for both Korea and its trading partners significantly impact trade volumes and whether the implementation of FTAs mitigates these effects. Design/methodology – The study employs dynamic panel data analysis using the system generalized method of moments (system GMM) estimation method to achieve its research objectives. It utilizes country-month-level panel data, including the EPUI, trade volume between Korea and its trading partner countries, and other pertinent variables. The use of system GMM allows for the control of potential endogeneity issues and the incorporation of country-specific and time-specific effects. Findings – The analysis yields significant results regarding the impact of economic policy uncertainty on Korea's exports and imports, particularly before the implementation of FTAs. An increase in the EPUI of trading partners leads to a notable increase in Korea's exports to them. Conversely, an increase in Korea's EPUI negatively affects its imports from trading partners. However, post-FTA implemen- tation, the influence of each country's EPUI on trade volume is neutralized, with no significant difference observed. Originality/value – This research contributes to the existing literature by providing empirical evidence on the interaction effects between economic policy uncertainty and FTAs on bilateral trade volumes. The study's uniqueness lies in its examination of how FTAs mitigate the impact of economic uncertainty on trade relations between countries. The findings underscore the importance of trade agreements as mechanisms to address economic risks and promote international trade relations. In a world where global market uncertainties persist, these insights can aid policymakers in Korea and other countries in enhancing their trade cooperation strategies and navigating challenges posed by evolving economic landscapes.

내부자거래와 정보비대칭의 관계에 관한 연구

기도훈(Do Hoon Ki),김승준(Seung Jun Kim) 글로벌경영학회 2022 글로벌경영학회지 Vol.19 No.5

본 연구는 내부자거래와 정보비대칭의 관계를 분석하고자 내부자거래가 발생한 기업-분기의 거래전 이익-주가수익률 편의를 통제기업-분기의 이익-주가수익률 관련성과 비교 분석하였다. 연속적으로 발생하 내부자거래가 분석결과에 미치는 영향을 최소화 하기 위하여, 연속적으로 발생하는 내부자거래를 하나의 거래로 통합하는 과정을 거쳤다. 본 연구는 더욱 일반화가능한 결과를 제시하기 위하여 전자공시시스템을 통하여 공시되는 임원·주요주주 특정증권 등 소유상황보고서의 정보를 Python을 이용하여 전수 수집하였고, 분기재무정보를 이용함으로써 연간정보를 이용한 분석에서의 시차문제를 완화하고자 하였다. 또한, 내부자거래 기업의 생존편의(Survival bias)를 최소화하기 위하여 상장폐지 기업의 폐지 전 표본도 분석에 포함하였다. 분석기간은 2012년부터 2018년까지이며, 한국유가증권시장 및 KOSDAQ시장 상장기업들 중 비금융업 기업들을 대상으로 하였다. 실증분석 결과, 첫째, 이익-주가수익률 과대 편의가 클수록 내부자매도의 발생확률과 내부자매도거래 비중이 증가하고, 과소 편의가 클수록 내부자매수 발생확률과 내부자매수거래 비중이 증가하는 것으로 나타났다. 이러한 영향은 내부자의 미래전망을 대리하는 미래 이익성과, 미래 이익성장성, 미래 주가수익률보다 더욱 크고 유의하게 나타났다. 둘째, 이익-주가수익률 편의가 내부자 거래 발생확률에 미치는 영향은 내부자매도에서 내부자매수보다 강하고 즉각적으로 나타났다. 선행연구에서 보고한 미래전망과 내부자거래의 정의 관계는 내부자매도보다 내부자매수에서 강하게 나타났다. 본 연구는 내부자거래를 유발하는 원인으로서 선행연구에서 주장한 미래성과에 대한 전망정보보다 내부자와 외부이해관계자의 정보비대칭이 주요한 역할을 한다는 것을 이익-주가수익률의 관계를 이용하여 직접적으로 분석하였다는 점에서 선행연구와 차이가 있다. 또한 내부자거래의 유형(매도 및 매수)별 속성 차이로 인하여 내부자와 외부이해관계자의 정보비대칭차이가 내부자거래에 미치는 영향이 차별적으로 나타날 수 있음을 보여주었다는 점에서 의미가 있다. This study analyzes the pre-transaction period accounting earnings-stock price relation among companies with and without insider trade(insider sell and buy) to find out whether information asymmetry increase potential insider’s profit, thereby, motivate insider to trade their own stocks. In order to figure out correct relationship between insider trading and information asymmetry, this study recognize succesive insider trading, and use only first trade observation of succetive insider sell and buy, respectively. Therefore the total number of stocks and the first trade of each successive insider tradings are respectively presumed as an insider trading volume and as an observation of the the succesive insider trading. Also, all ownership information of directors and major shareholder is cellected from DART using Python, and quarterly financial information is used for our analysis to alleviate the possible problem coming from assumption of period of insider trading. The analysis period is from 2012 to 2018, and non-financial companies among listed companies on the Korea Stock Exchange and KOSDAQ are targeted. Empirical analysis shows as follow. First, it was found that the greater the over-estimate of earnings-return relation incurs greater probability of occurrence of insider stock sales and greater insider sales stock volume. These relationships are larger and more significant than those between insider trading and future earnings level, future earnings growth, and future stock return, which represent insiders' information advantage on future prospects of the firm. Second, the effect of estimation bias of earnings-return relation on the probability of insider sales was stronger and more immediate than those of insider purchases. The positive relationship between future prospects and insider trading, reported in previous studies, was stronger in insiders purchases than in insider sales. This study directly analyzed whether information asymmetry between insiders and external stakeholders plays a major role of insider trading, comparing pre-period earning-return relation estimates of insider trading firms with those of control firms. It is also meaningful in that it shows that the information asymmetry difference between insiders and external stakeholders can have different effects on insider trading for different properties of insider sales and purchase.

An Adverse Social Welfare Effect of Quadruply Gainful Trade

Oded Stark,Grzegorz Kosiorowski 대외경제정책연구원 2020 East Asian Economic Review Vol.24 No.3

Acknowledging that individuals dislike having low relative income renders trade less attractive when seen as a technology that integrates two economies by merging separate social spheres into one. We define a “trembling trade” as a situation in which gains from trade are less than losses in relative income, with the result that global social welfare is reduced. We show that a “trembling trade” can arise even when trade is more gainful in four ways: through trade the absolute income of everyone increases, the income gap in both economies is reduced, as is the income gap between the trading economies. However, trade brings populations, economies, or markets that were not previously connected closer together in social space. As a consequence, separate social spheres merge, and people’s social space and their comparators are altered. Assuming that people like high (absolute) income and dislike low relative income, the aggregate increase in unhappiness caused by the trade-induced escalation in relative deprivation can result in a negative overall impact of trade on (utilitarian-measured) social welfare, if the absolute income gains are not large enough to mitigate the relative income losses.