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This study examines the current status of carbon emissions in the electric power sector and presents future countermeasures in preparation for the EU Carbon Border Adjustment Mechanism, which will be implemented between 2026 and 2027 after a transition period of 2 to 3 years from January 2025. The EU agreed on details on carbon taxation for products imported from outside the EU through a provisional agreement (Trilogue) in December 2022. The main point of the Trilogue is to impose a carbon tax equal to the difference with the EU-ETS for direct emissions and, if necessary, indirect emissions for six industries. However, since there is a plan to expand the application to all imported products subject to the EU-ETS in the future, research on reducing indirect emissions generated during the electricity production process of power plants is urgently needed. This study presented the current status of carbon emissions in the electric power sector, which is subject to CBAM, and plans for reduction. The author argues that the most fundamental measure to reduce carbon emissions in this study is power generation using non-fossil energy. Therefore, as a measure to increase new renewable energy, which is a non-fossil fuel, the company supplements and expands the Korean FIT, activates the small-scale electricity market, equates K-ETS and EU-ETS, fosters the new renewable energy industry, and Manpower training was suggested.

After the COVID-19 pandemic, a cashless society is rapidly emerging into reality. With the prolonged COVID-19 in 2020, discussions on the introduction of Central Bank Digital Currency (CBDC) issued by each country’s central banks are growing. In addition, consumers prefer payment methods for mobile first and fully digital. In particular, China is leading the way in issuing digital currency. Since 2014, the People’s Bank of China has established a research organization dedicated to digital currency and has been promoting pilot tests step by step. Starting with the 2022 Beijing Winter Olympics, the scope of pilot tests is being expanded to enable regional transactions in intra-regional transactions with the aim of commercializing digital RMB. In addition, China is conducting pilot tests with the aim of increasing the efficiency of the international payment and settlement system with the digital RMB having an institutional and system advantage in cross-border transactions. The digital renminbi cross-border payment system test is still in its early stages of exploration. In the short term, it will take a lot of time for digital RMB technology to be properly established. However, each country’s digital currency development is also in its early stages, so it is important to make it compatible with other countries’ digital currencies. Korea also needs to take an advantageous position in establishing a global digital currency payment system by leading the establishment of global norms and systems related to CBDC. As such, it is an important task to establish specific international standards through international discussions and cooperation on digital currency that can be traded across borders.

This paper analyze the impact of countries' intellectual property protections on China’s exports. We construct panel data of China's export and 120 countries’s intellectual property protection level during the period of 2012~2020. First, the entire industry was analyzed, and only high-tech industries which intellectual property rights are important were analyzed. And also compare whether there was a difference in the protection of intellectual property rights by dividing trade partners into OECD and non-OECD countries. As a result, the higher the level of intellectual property protection in the imported country, the more positive in China's total exports and the high-tech industrial exports, which can be seen that the market expansion of intellectual property protection is effective. In the case of non -OECD member countries, the level of intellectual property protection has been significantly affected by China's total exports, and when targeting the entire industry, the impact of intellectual property protection level is larger than the high–tech industry.

This study looked at how COVID-19 has affected employment by industry, region, and firm size. Employment data of 28,142 companies for 6 years from 2016 to 2021 provided by NICE Information Service was used. First, it was found that employment decreased after COVID-19 compared to before COVID-19 in manufacturing, wholesale and retail, lodging and restaurant, transportation and warehousing (including air transport), information and communication, educational service, and associations. However, there was no difference in employment growth rates before and after COVID-19 in agriculture, forestry and fisheries, mining, electricity gas, water and sewage, construction, finance and insurance, real estate, professional science and business facilities, health and social services, and arts and sports. Second, employment decreased in Seoul, Gangwon, Chungbuk, Gyeonggi, Gyeongnam, and Daegu. In particular, negative (-) effects were found in Seoul (significance level 5%) and Gyeonggi (significance level 1%). This is because industry and population are concentrated in the metropolitan area (Seoul and Gyeonggi), so Corona 19 has had a worse impact on industries and confirmed cases than other regions, and therefore, it seems that companies have reduced employment. In the rest of the region, there was no difference in employment before and after COVID-19. Third, it was found that both large companies and small and medium-sized enterprises (SMEs) have reduced employment after COVID-19. Due to human and material restrictions between countries, conglomerates and small and medium-sized enterprises (SMEs) have been affected in many ways by supply and demand of raw materials and restrictions on parts. Therefore, it seems that both large enterprises and SMEs have reduced employment by affecting environmental uncertainty and crisis.

The This study aims to analyze the papers on Europe published in Korea during the past 2000-2020 years. As the research methodologies, this study uses the text mining and Social Network Analysis such as frequency analysis, several centrality analyses, and topic analysis. After analyzing the empirical results, there has been a tendency to change the key words and centrality coefficients between 2000-2010 and 2011-2020 years. While the most frequent keywords were policy, system, culture, globalization, and state during 2000-2010 years, the main keywords were policy, integration, market, system, and labor during 2011-2020 years, The degree and closeness centrality analyses appeared the higher frequency key words. However, the eigenvector centrality appeared very different from the order of frequency key words. The topic analysis shows that the culture, migration, system, security, and democracy were the most important keywords during 2000-2010 years but policy, integration, economy, market, employment, and free trade agreement became the most important keywords duing 2011-2020 years in topic analysis.

The purpose of this study is to examine the impacts of foreign direct investment (hereafter FDI) on economic growth in selected Asian countries: Brunei, Indonesia, Malaysia, Thailand, and Vietnam. The study also utilizes instrumental variables including regulatory quality, government effectiveness, corruption control, political stability and absence of violence, voice and accountability, and rule of law to explain differences in institutions and macroeconomic policies in the host countries. Data was gathered from the World Bank and the Worldwide Governance Indicators(hereafter WGI) between 2002 and 2019 and analyzed using ordinary least squares(hereafter OLS), two stage least squares(2SLS), and generalized method of methods(hereafter GMM) methodologies. These selected Asian countries have seen higher FDI inflows in recent years, it is important to figure out the reason, and we would like to concentrate on the influence of FDI on economic growth in each of these Asian countries, together with the effect of these instrumental factors on FDI. This study show that the impact of FDI on a country’s GDP growth rate is dependent on the economy’s institutional quality. The FDI and domestic investment are positively connected and have an influence on economic growth in these selected Asian countries when instrumental characteristics such as accountability, corruption control, political stability, and the absence of violences are taken into account. The country’s macroeconomic policies and institutional stability have an impact on its economic growth. For FDI-driven growth to materialize, comprehensive institutional stability and macroeconomic policies are required.

A management crisis has occurred in the entire industry due to the corona virus, and the government and related organizations are working hard to overcome the crisis, such as preparing an active support system and companies coming up with solutions on their own. Bonded stores are also facing a serious crisis due to the decrease in foreign visitors. And The Korea Customs Service implemented 15 tasks to revitalize the duty-free industry to support the management crisis of bonded shop operators. However, among them, the domestic sales system is incompatible with the unique functions of the bonded system, and negative effects such as the conversion of the bonded shop operator to a general importer may occur. Therefore, this study examines the negative consequences of the domestic sales system in bonded stores, and finds that the domestic sales system for operators who do not have their own alternatives to overcome the crisis on their own is ineffective, and that Opinions on improvement measures to overcome the management crisis were presented.

This study aims to derive innovation strategies for the higher education in the post-pandemic era through analyzing the feasibility of the online education as a global higher education service strategy for Korean universities. To this end, the study analysed the awareness of the necessity and contribution of university’s g lobalization a nd s uccess f actors o f global o nline education, s urveying for 2 2 7 faculty members related to international education at 147 universities in Korea. The study results present that the faculty members aware of the necessity and effectiveness of the internationalization and online education strategy for the higher education service industry to secure global competitiveness for Korean universities. Lastly, the study suggested practical implications for the direction of higher education policy for universities and educational authorities.

The paper focuses on structural analysis of Ukrainian export aiming to assess its competitiveness in the major trading countries. The research follows the CMSA (Constant market share analysis) techniques adopted for analysis of exports of a small economy. The effects of changes in the exports of Ukraine will be separated based on two models of constant market share (CMS). The CMS focused on trading country is composed of world’s trading country effect (WDN), Ukraine’s trading country effect (UAN), and Ukraine’s trading country-commodity effect (CAN). The CMS focused on commodity has the world’s commodity effect (WDP), Ukraine’s commodity competitiveness effect (UAP), and Ukraine’s commoditytrading country competitiveness effect(CAP). The results indicate that the competitiveness of Ukrainian sunflower seed oil in the Indian, Dutch and French markets is not only superior to other Ukrainian products, but higher in the Indian, Dutch and French markets than in the global market. However, the competitiveness of Ukrainian sunflower seed oil in the Spanish market is inferior to other Ukrainian products and is lower in the Spanish market than in the global market. This paper shows that the competitiveness of Ukrainian sunflower seed oil in the Chinese market is inferior to other Ukrainian products but is higher in the Chinese market than in the global market.

We empirically analyze the trade effect of the preferential trade arrangement (PTA) of Korea for least developed countries (LDCs). In 2000, Korea launched PTA that allows duty-free and quota-free market (DFQF) access to LDCs. Korea has granted DFQF access to LDCs and extended preferences for LDCs since 2012 . However, imports from LDCs account for less than 1% of Korea’s total imports. We incorporate Silva and Tenreyro(2006)’s PPML method in the traditional gravity model for unilateral preferential schemes as in Gil-Pareja, et al.(2014) to address “zeros” in trade data and the endogeneity issues between trade and trade agreements. An empirical study of Korean 2000-2020 disaggregated import data shows that DFQF failed to increase LDCs’ exports. Korea may need to reform DFQF and design mutually beneficial trade agreements for LDCs.

This study analyzed whether there was any change during this period in the information transfer phenomenon of the US stock market to the domestic stock market by dividing it into before and after the outbreak of the corona crisis. Also, during this period, we looked at the changes in the impact of foreign investors’ trading behavior on the domestic stock market. The period for the empirical analysis was from January 2, 2017 to June 17, 2022, and March 11, 2020, when the WHO declared a pandemic, was used as the reference point for the distinction between before and after the outbreak of COVID-19. The main analysis results are as follows. First of all, it was confirmed that the same information transfer phenomenon occurs in the US stock market in terms of yield and volatility in the domestic stock market as in previous studies. However, in the case of the transfer of the return of the domestic stock market to the US stock market, the night return showed a strong effect, but the weekly return showed the opposite result. Therefore, it was found that the domestic stock market overreacted to the US market at the beginning of the day and then went through an adjustment process during the day. No significant differences were found when comparing the domestic nighttime and weekly returns before and after the corona crisis regarding the yield transfer phenomenon from the US market. Second, the trading behavior of foreign investors was found to have a positive (+) effect on the domestic stock market, as expected. When net purchases by foreign investors have a positive (+) value, the KOSPI, as well as large-cap, mid-cap, and small-cap stock indices generally rise. Unlike before and after the outbreak of COVID-19, foreign investors’ trading behavior continued to show an advantage over significant selling, but in terms of their influence on the domestic stock market, no significant difference could be found before and after the outbreak of COVID-19. However, before the outbreak of COVID-19, most indices showed a positive (+) relationship between the nightly yield and the trading behavior of foreign investors, but after that, there was no statistical significance between them. The results of this study are meaningful in that the movements of the US stock market and the trading behavior of foreign investors after the COVID-19 crisis provide important information to investors participating in the domestic capital market in making investment decisions.

This study investigate the effect of exchange rate volatility on trade balance for Vietnam during the period of 2010 from first quarter to the 2021 second quarter. The dynamic simulations of autoregressive distributed lag (DYNARDL) approach is applied to analyze positive and negative changes on trade balance of exchange rate volatibility, finalcial development, financial globalization and economic growth in Vietnam. The conditional variance of the generalized autoregressive conditional heteroskedasticity (GARCH) model is used to estimate the exchange rate volatility. The results indicated a significant positive effect of real exchange rate volatility on Viet Nam’s balance trade while there was no effect of nominal exchange rate volatility.

With the development of digital economy and the digital transformation of traditional energy industry, new opportunities for urban construction are brought. Based on the digital economy+smart energy integration innovation model, this paper proposes the core competitiveness model of the future smart city, elaborates and analyzes the basic determinants of the future smart city’s smart degree, puts forward some ideas for the future smart city construction, and gives some basic development suggestions. This paper provides a reference for the basic design of future smart city construction, and tries to explain the driving factors of smart city, which provides a research direction for future smart city research and makes it have certain reference value.

In the context of global energy transformation, China’s photovoltaic industry has experienced explosive growth and two major crises. It has ushered in stable development amidst ups and downs, and has the advantages of industrial clusters, economies of scale and latecomer advantages. However, under the post-epidemic global new cold war situation, China’s photovoltaic industry is also facing many problems in international trade, such as international logistics obstruction, green trade barriers, low-price competition, local trade protection in target countries, and so on. This article will start from the comparative advantage theory to analyze the problem, and propose how to transform the comparative advantage into a competitive advantage to solve the problem, so as to enhance the competitiveness of China’s photovoltaic industry in international trade.

Originated in 2019, the COVID-19 at the end of the year had a huge impact on China and the world. The Chinese government has used the whole country to comprehensively prevent the outbreak of the new crown virus. In order to effectively prevent the COVID-19, in addition to the epidemic prevention and treatment measures of the frontline medical staff, it is also necessary to fully guarantee the back-end epidemic prevention materials, and the behavior of epidemic prevention material protection has a typical transaction cost paradigm. Starting from the three factors of asset specificity, uncertainty and transaction frequency of transaction costs, combined with the actual work experience of the COVID-19 prevention, the author analyzes the contractualization and institutional arrangements of the COVID-19 prevention materials.