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China has been the most important economic partner to Korea since the resurrection of their diplomatic relationship and economic interaction. It has been suggested that China simultaneously presents challenges and opportunities to the Korean economy. This paper investigates changes in trade specialization patterns and comparative advantage of Korea and China, and analyzes the effect of market expansion of Chinese industries on market shares of Korean industries. It is found that since the early 1990s, the industries that lost market share as China’s share increased include those in which Korea has maintained a comparative advantage or improved the level of disadvantage, such as IT equipment and other transport equipments. Considering growth of trade flows and emergence of China, it is critical for Korea to actively participate in international production chains, create competitive edges and extend complementary relationship with trading partners.

This paper examines global imbalance and rebalancing issues from the viewpoint of Korea. As IMF (2009) notes, the unwinding of global imbalance seems inevitable and, in fact, it is in progress. We illustrate that Korea, with a flexible exchange rate system and relatively balanced current accounts, has little direct linkage to global imbalance. However, we also find that Korea is not immune to the costly adjustment process of imbalance due to the triangular trade between Korea, China and the U.S. The fact that Korea is ‘indirectly’ linked to global imbalance limits Korea’s ability to cope with the situation. Boosting domestic demand, often mentioned recommendation for East Asia, is not an appropriate solution for Korea with low personal savings rate. A lot depends on China’s policy. If China reduces its dependence on U.S. market and increases domestic consumption despite unemployment risk in export manufacturing sector, it will provide Korea with an opportunity for more stable growth based on China’s final demand. Korea can also make efforts to increase economic integration and expand monetary cooperation in Asia that would help to increase consumption demands and final goods trade in the region.

The economic success of East Asia was due to an export-led growth strategy, which was heavily dependent on the global trading system underpinned by the General Agreement on Tariffs and Trade (GATT) and the World Trade Organization (WTO). In recent years, however; East Asian countries have shifted their trade policy focus to regional agreements and made Free Trade Agreements (FTAs) among themselves arid with other regions. Government organization has been restructured to increase FTA activities. Generally, the current literature predicts that FTA activities of East Asia would help to increase the welfare of the region. In this paper; we offer a critical assessment of East Asia FTAs. We note that East Asia FTAs provide incomplete coverage of sectors and are likely to lead to an inefficient resource allocation. FTA movements are not matched with actual trade flows. The benefits of East Asia FTAs are fairly limited and potential benefits, if any, would not likely be materialized in the near future. Our overall assessment is that the recent policy shift in East Asian countries from multilateral trade orientation or unilateral action to regionalism or a parallel multilateral and regional trade approach will not produce much gain. The governments should increase their efforts at economic reform and reduce barriers to trade and investment, rather than to allocate more resource and manpower to FTA activities.

This paper investigates the effects of risk neutral distribution (RND) from option prices on the distribution of the underlying asset. More specifically, we focus on the third moment of distribution, called skewness, which contains important information predicting the jumps of stock index. The sample period covers from January 2002 to July 2006 with the closing price returns of KOSPI200 Index and the KOSPI200 options. The skewness of the risk neutral distribution is estimated from non-parametric method of Bakshi et al.(2003) and the parametric method of Corrado and Su (1996). When estimating the skewness of the underlying assets, we employ Chen et al.(2001) model and calculate the historical skewness from the1-month ahead return underlying asset. Using statistical methodology such as VAR (Vector Autoregressive model), Granger causality test, impulse response and variance decomposition model, we examine whether the skewness of the underlying asset responds to the change of the implied RND. Followings are the major findings and implications drawn from the empirical analysis of the Korean options market. First of all, skewness of options estimated from non-parametric method have information contents predicting the third-moment of KOSPI200 index return whereas skewness of options estimated from parametric method does not have any information forecasting the skewness of KOSPI200 index return.

The main streams of the supply chain are defined as material, information and financial flow. There have been many studies and practical cases regarding the flow of material and information including information sharing. However, financial flow related studies have not been widely examined relatively, compared with their importance.

The information sharing is recognized as the method that can reduce the Bullwhip effect in supply chain management. The author intends to analyze the impact of financial information sharing on the results of the supply chain.

In the point of supply chain risk management view, the author examined the impact of financial flow among the various factors that can impede the stability of the supply chain.

In this study, the author embodied the simulation regarding the impact of financial information flow on supply chain performance and stability based on the system dynamics methodology and analyzed the performance.

Assuming the supply chain, composed of supplying company, manufacturing company and sales company , the author embodied the simulation model and assumed that working capital and cash information sharing were achieved. The author embodied the model to affect the settlement conditions according to the results of financial information sharing.

Recently the route connecting the trans-Korean railway and the trans-Siberian railway has become of particular interest for many academics and policy-makers in East Asian countries. The extensive review of previous studies, however, reveals that literature on the subject is lacking solid analytical framework. Most studies are one-sided, focusing on the political aspects of the issue or paying little attention to the economic aspects of the problem.

This study intends to develop an analytical framework through which the most efficient route among four major alternative routes connecting the trans-Korean and trans-Siberian railways can be identified. It attempts to assign priorities to the four alternative routes according to their level of economic efficiency.

This study utilizes a simple cost-benefit analysis in evaluating the four routes. Cost side, transportation time, effectiveness of customs procedures, and gauge difference are selected as the main economic factors. The volume of cargo, industrial production in adjacent regions, access to natural resources, and market size and foreign investment climate are used to evaluate the benefits of the routes.

The study concludes that Route 3, which connects ‘Busan - Seoul (South Korea) –Pyongyang -Sinuiju (North Korea) –Shenyang –Beijing - Erenhot (China) –Ulaanbaatar (Mongolia) –Ulan-Ude - Moscow (Russia)’ is the most efficient route.

This paper investigates a retrospective on the Journal of Derivatives and Quantitative Studies (JDQS) on its 30th anniversary based on bibliometric. JDQSs yearly publications, citations, impact factors, and centrality indices grew up in early 2010s, and diminished in 2020. Keyword network analysis reveals the JDQS's main keywords including behavioral finance, implied volatility, information asymmetry, price discovery, KOSPI200 futures, volatility, and KOSPI200 options. Citations of JDQS articles are mainly driven by article age, demeaned age squared, conference, nonacademic authors and language. In comparison between number of views and downloads for JDQS articles, we find that recent changes in publisher and editorial and publishing policies have increased visibility of JDQS.

The Government of Korea institutionalized the World Korean Business Convention (WKBC) and the World Korean Business Network (WKBN) to promote Korean diaspora entrepreneurs’ investment in the homeland. Few studies have examined the effectiveness of the WKBC and WKBN and the critical variables affecting them. This paper aims to fill this gap by exploring important variables affecting Korean diaspora entrepreneurs’ investment in the homeland. It also seeks to examine the relationships among these variables to inquire upon a set of critical questions pertaining to Korean diaspora entrepreneurs’ investment in the homeland including the effectiveness of the WKBC and WKBN.

To achieve the above purpose, critical variables influencing Korean diaspora entrepreneurs’ investment in the homeland were identified and four hypotheses that include the inquiries pertaining to the effectiveness of the WKBC and WKBN were developed in terms of those variables. The hypotheses were empirically tested using the survey data gathered from the participants of the annual WKBC.

The current research found that Korean diaspora entrepreneurs’ evaluation of the investment climate in the homeland was not favorable. The WKBC was positively evaluated by Korean diaspora entrepreneurs willing to make investment, There is discrepancy between expectations of the WKBN’s target group (i.e. Korean diaspora entrepreneurs willing to make investment) and its performance for the group, and there is a difference between ascending and descending Korean diaspora entrepreneurs in assessment of investment value of the homeland.

A majority of studies on diaspora entrepreneurship and development have so far cast light on ascending diaspora entrepreneurs while neglecting descending diaspora entrepreneurs. In this regard, the most interesting finding of the current study to both researchers and policymakers may be the fact that descending Korean diaspora entrepreneurs assess the investment value of the homeland differently from ascending Korea diaspora entrepreneurs. The finding calls for further research on causes of the difference, and different natures of descending diaspora entrepreneurs compared to those of ascending diaspora entrepreneurs. Such research will enable policymakers to formulate and implement effective strategic diaspora policies that take the differences into consideration.

This study performs a science mapping approach based on bibliometric analysis of the metaverse and its associated technology in tourism and hospitality. As an immersive technology, metaverse has penetrated various segments of human life and business activities. This digital transformation phenomenon has also penetrated tourism and hospitality in mixed reality, comprising virtual, augmented and extended reality.

The knowledge structure of the past and future trends in the sector’s metaverse application is analyzed to present the topological and temporal structure by a science mapping approach.

Findings show that current and emerging trends are related to tourism mobilities, cultural and heritage tourism, digital landscape transformation and motivation to adopt virtual reality. At the same time, future trends suggest three themes related to the transformation of the tourism industry through the metaverse: immersive heritage exploration, technology adoption in metaverse tourism.

Metaverse technology will continue impacting tourism services and product offerings. Stakeholders and players in the tourism sector need to adapt to the development of metaverse technology to stay competitive and relevant in today’s digital environment.

Through a science mapping approach, this study offers a crucial temporal and structural understanding of the metaverse in tourism phenomenon.

The main objective of this article is to visualize the structure and trends of pro-environmental behavior (PEB) between 1999 and 2023 through mapping and in-depth analysis. The aim is to analyze PEB, which has received considerable academic attention in recent years due to its key role in the conservation of the environment and the protection of local communities in tourist destinations. This paper provides an important summary of the recent research that has explored the role that tourists have in protecting the environment through PEB.

This study presents a visual analysis of 2005 scholarly articles between the years 1999 and 2023 related to PEB. Using the knowledge mapping based on VOSviewer it presents the current status of research, which includes the analysis of citation analysis, co-citation analysis, co-citation network and longitudinal analysis.

PEB is an emerging topic due to its relevance to protecting the environment in the context of travel. The citation and co-citation analysis show the relevance of the behavior of tourists with regard to protecting the environment. The co-word analysis highlights the current significance of research concerning green hotels and the destination image of environmentally responsible destinations.

This study sheds light on the current research progress of PEB in the context of tourism through a comprehensive analysis (citation, co-citation and co-word). In addition, we provide theories and factors that have been previously used to study PEB in the context of tourism. The findings contribute to a broad and diverse understanding of the concept of PEB, which can provide important insights for policymakers in formulating management strategies and policies aimed at reducing environmental impacts in destinations.