• Title, Summary, Keyword: imports

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Lead-Lag Relationships between Import Commodity Prices and Freight Rates: The Case of Raw Material Imports of Korea

  • Kim, Chi-Yeol;Park, Kwang-So
    • Journal of Korea Trade
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    • v.23 no.2
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    • pp.34-45
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    • 2019
  • Purpose - This study investigates the lead-lag relations between the prices of major commodities imported into Korea and corresponding shipping freight rates. This paper aims to provide implications for cross-market causal relations between related economic segments. Design/Methodology - For economic long-run equilibrium between commodity prices and freights, a Johansen (1988) cointegration test is employed first. Then, Granger (1987) causality tests are performed under the vector error correction model (VECM) framework. Findings - The results indicate that the direction of causality varies by raw materials, which is attributable to different economic mechanisms in the corresponding shipping transportation sectors. In addition, the significance of causality becomes blurred during the post-2008 period. Practical Implication - Corporate managers in commodity trading, steelmaking, power generation, and oil refinery sectors can take advantage of the findings in this study as identifying leading economic indicators can be helpful for decision making in both short- and long-term strategies. Originality/value - This study is the first attempt to analyze the inter-relations between commodity prices and corresponding freight rates focusing on raw material imports of Korea.

An Analysis on Changing Factors of World Soybean Markets (세계 대두시장 변화요인 분석 및 시사점)

  • Lee, Sang Hyeon;Ahn, Soojung
    • Journal of the Korean Society of International Agriculture
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    • v.29 no.1
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    • pp.18-25
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    • 2017
  • As economic growth has occurred in Asia over the last several decades, the demand for soybeans, soybean meal and soyoil have also increased. Over the last 50 years, the cultivation of soybeans in the U.S., Brazil, and Argentina increased dramatically. Consequently, these three countries have become the major soybean producers and exporters in the world. The growth in soybean production in those countries over the years, however, has been insufficient to meet the demand. With the opening of China's market to soybean and soybean products trade in 1995/96 and the accession of China to that trade agreement in 2001, Asian soybean imports began to increase dramatically. Korea opened its soyoil market in 1991 and it brought about a great change not only in soyoil market but in soymeal and soybean market as well. As imports of soyoil expanded, the increased consumption was covered by imports and this caused burden cost to soybean manufacturers leading to decrease in soybean purchase. Since that time, consumption of Korean soybeans has become stagnant and due to this reason, production of soymeal, which is byproduct of soybeans, also decreased replacing increased domestic consumption with imported soymeal. This implies that market openness of soyoil, has brought negative effect in soybean and soymeal market. As a result, decrease in soybean consumption led to decrease in self-sufficiency of soybean products.

The Sale Characteristics of the Optician's Shop located in Daegu Dongseongro (대구 동성로에 위치한 안경원의 판매 특성)

  • Park, Jeong-Sik;Lee, Jeung-Young;Jang, Woo-Yeong
    • Journal of the Korea society of information convergence
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    • v.6 no.1
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    • pp.21-24
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    • 2013
  • This research used the sales information of the optician's shop located in Dadgu Dongseongro from January 2013 to October 2013. We used the sales information including the sale of glass frame, lens, sunglass, sale price, weekly sale and monthly sale generated in an optician's shop. It is difficult to direct expression for product sales quantity or amount. The sales ratio of the glass frame and sunglasses was very higher than a domestic about the imports. But the sales ratio of the lens was a little bit higher than a domestic about the imports. The glasses price in which it is sold the most was 500,000 won betweens in 300,000 won. The sale was concentrated than a weekday on weekend. While a summer became close, a sale increased and after decreased gradually.

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An Inter-industry Analysis of the Korean Railway with Input-Output Statistics: A Decade Comparison (철도운송산업의 산업연관 분석 2003~2013년, 지난 10년의 비교)

  • Yoon, Jae-Ho
    • Journal of the Korean Society for Railway
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    • v.19 no.6
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    • pp.815-825
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    • 2016
  • The inter-industrial inducement effects of the Korean railway services on the output, value-added, and imports of 383 industrial sectors of the Korean economy have been computed by the input-output analysis technique utilizing the '2013 Input-Output Statistics', which was published most recently in December 2015 by the Bank of Korea. The research results are, then, compared and contrasted with the former research results with the '2003 Input-0utput Statistics', which were published in the Journal of the Korean Society for Railway, August, 2008. The economic inducement effects computed in this study are as follows. The Korean railway service industry produced \5,841 billion worth of passenger and freight railroad services in the year 2013, and it induced \8,511 billion worth of output, \84 billion worth of value-added, and \1,050 billion worth of imports for Korean industry as a whole.; the production inducement multiplier, value-added multiplier, and imports inducement multiplier of 2013 results are shown to be quite different from 2003 multipliers.; it has been shown that it is necessary to utilize the most recent Input-Output Statistics for the computation of the most recent inter-industrial analysis.

Development of IoT-based data acquisition device (Gateway) for context-awareness of hospital facilities (병원 시설물의 상황 인지형 Light Things 제어를 위한 IoT기반 데이터 수집장치(Gateway) 개발)

  • Lee, Kack-Hee;Lee, Min-Woo;Cha, Jae-Sang
    • The Journal of the Convergence on Culture Technology
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    • v.3 no.4
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    • pp.181-184
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    • 2017
  • Korea is the world's top ten energy consumer, relying on foreign imports for 97% of its total energy. In 2007, energy imports amounted to US $ 95 billion, accounting for 26.6% of total imports. Thus, fundamental and long-term countermeasures against the same energy crisis It is a fact that is required. Despite the fact that the world is moving rapidly around the world in response to energy saving and low-carbon economic era, domestic movements are relatively slow. In this paper, we developed an IoT data collection device (Gateway) to control Light Things (lighting, signage, display, etc.) built in medium and large facilities under the assumption of hospital facilities, We propose the Light Things control algorithm and data acquisition (Gateway) development technology.

Satisfaction with the Quality of Agricultural Machinery and the Propensity for Replacement Purchases

  • Shin, Seung-Yeoub;Kang, Chang Ho;Yu, Seok Cheol;Kim, Byounggap;Kim, Yu-Yong;Kim, Jin Oh
    • Journal of Biosystems Engineering
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    • v.39 no.4
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    • pp.261-266
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    • 2014
  • Purpose: This study was conducted to serve as a basis for strengthening policy support and R&D to improve the domestic and international competitiveness of domestic agricultural machinery. Levels of satisfaction among farmers and service engineers were analyzed regarding the current quality of agricultural machinery and the primary consumers' propensity for replacement purchases. Methods: A survey was carried out targeting farmers in over 150 townships and 300 villages in South Korea who collectively used 711 tractors, 286 rice transplanters, and 221 combine harvesters. Furthermore, agricultural machinery service engineers from 20 different after-services were surveyed regarding the quality of main components in domestic agricultural machinery versus those in imported agricultural machinery. Results: The farmers' overall quality satisfaction ratings for tractors, rice transplanters, and combine harvesters ranged from 57.1% to 62.6% in consideration of operating performance, failure rate, and durability. Compared with imports, satisfaction ratings for domestic agricultural machinery were 19.1%p to 38.1%p lower for quality. Regarding engines, transmissions, hydraulics, planters, reapers, threshers, and electrical components, only 5.3% to 25.0% of service engineers indicated that domestic agricultural machinery was higher in quality compared with imports. By contrast, 33.3% to 78.9% of those surveyed indicated that domestic components were lower in quality compared with imports. Intent to purchase replacement agricultural machinery at the end of their respective products' lifecycles was indicated that they planned to purchase imported tractors, rice transplanters, and combine harvesters comprised 25.2%, 46.9%, and 43.9%, respectively. This clearly shows that a very high percentage of farmers were satisfied, particularly for transplanters and combine harvesters. Conclusions: The level of desire for purchasing imported agricultural machinery was very high among those who expressed intent to purchase replacement machinery. Therefore, strong policy support and R&D for domestic agricultural machinery is critical for improving competitiveness on the domestic and foreign markets.

Prospect of Soybean Production, Consumption and Supply in Korea (콩 생산 수급전망과 대책)

  • Kim Seok Dong;Park Keum Yong
    • Proceedings of the Korean Society of Crop Science Conference
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    • pp.249-265
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    • 1998
  • The yearly consumption of soybean ranged from 1.5 to 1.7 million tons in Korea during 1995-1997 with an increasing trend of annual consumption by 60,000 tons. Gross consumption of soybean was 1.74 million tons in 1997: 1.292 million tons for feed, 0.433 million tons for food and its processing, and 15,000 tons for seed and other uses. Particularly, Korea totally depends upon imports of soybean for feed and oil. Only about $40{\%}$ of soybeans used for food and its processing are supplied through domestic production. Korean markets will be open to foreign agricultural products except for rice in 2004 when the Uruguay Round treaty is completed. According to the Korean Rural Economics Institutes reports, soybean consumption in 2004 is expected to be 1.87 million tons that is higher than that in 1997 by 0.13 million tons. In order to meet the need for soybean, Korean government planned to supply from 0.17 million tons of domestic production plus 1.7 million tons of imports, and also planned to raise the self-supply rate of $9.1{\%}$ in 2004 from $8.6{\%}$ in 1997. According to the USDA reports on international soybean production and consumption, its production is expected to be 150 million tons over the world and the international market prices for soybean will be unstable in 2004. Based on these reports, international soybean trade capacity will be 36 million tons in 2004 that is lower than 39 million tons (accounting for $25{\%}$ of gross production) in 1597. Also, a term-end stock in 2004 is estimated to be 9.6 million tons that is low as compared to 18.6 million tons In 1997, In coping with domestic and international soybean production, consumption and supply, and further possible food crisis, national policies and continuous efforts are necessarily required to promote domestic production and to reduce imports of soybean.

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A Study of the Effects of Trade between North Korea and China on the Conflict between South Korea and North Korea (북한·중국 간 교역이 남한·북한 간 분쟁관계에 미친 영향에 관한 연구)

  • Ju, Sung Whan
    • International Area Studies Review
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    • v.13 no.3
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    • pp.361-383
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    • 2009
  • This study extends theoretically the expected utility model of trade-conflict developed by Polacheck if a third country is involved, and analyses empirically how trade between North Korea and China affects to the political conflict between South and North Korea. The results of empirical analysis show that North Korea's exports to South Korea and China do not affect the conflict or cooperative relations between South and North Korea. But North Korea's imports from South Korea and China affect to the conflict between South and North Korea: increasing of North Korea's imports to South Korea reduce conflict between South and North Korea, but increasing of North Korea's imports to China increase conflict between South and North Korea.

A Study on Korean FDI in China by Industries and Intra Industry Trade between Two Countries (한국의 대 중국 업종별 FDI와 산업내무역에 관한 연구)

  • Kim, Seong Ki;Kang, Han Gyoun
    • International Area Studies Review
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    • v.13 no.3
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    • pp.759-780
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    • 2009
  • The purpose of this paper is to analyse the effect of Korean FDI(1990-2008) in China by industries on exports and imports between two countries. We use time series regression, Vector Error Correction Model and Impulse Response Function as methodologies. Our findings through empirical tests are as follows. First Korean FDI in China increases Korean exports with China but shows a tendency to decrease due to the local content of China. Second Korean FDI in China increases Korean imports in SITC 8 with China. Finally Korean trade surplus caused by Korean FDI in China shrinks due to the decreasing of exports and increasing of imports in Korea. Korean FDI in China should be oriented host country's market oriented rather than production efficiency oriented because of unfriendly foreign investment environments in China.