한국 중소기업의 글로벌 가치사슬 진입전략 및 정책적 시사점 연구 (Strategies for Korean Small and Medium Enterprises' Participation in Global Value Chains and Policy Implications).
한국 중소기업의 글로벌 가치사슬 진입전략 및 정책적 시사점 연구 (Strategies for Korean Small and Medium Enterprises' Participation in Global Value Chains and Policy Implications).

Author: Zukweon Kim

Publisher:

Published: 2016

Total Pages: 143

ISBN-13:

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English Abstract: One of the major changes in the current global business environment is that the global value chains (GVCs) of just a few multinational enterprises (MNEs) conduct most of the global business activities. These GVCs are structurally subdivided and regionally dispersed as a result of these MNEs' new strategies, which are influenced by the globalization, liberalization and deregulation of nations and enterprises, the development of transportation and telecommunication technologies, and the growth of emerging market economies. The process of such globalization is further accelerated by the decreasing costs of coordinating international division of labor activities and simultaneously provides threats and opportunities not only for multinational enterprises, but also for small and medium enterprises (SMEs). Small and medium enterprises (SMEs) can secure financial stability, increase productivity and enter the global market by participating in GVCs of the MNEs. However, SMEs require higher levels of financial and managerial resources and face more global competition to successfully participate in GVCs. Due to the many opportunities and threats to SMEs that come with participating in GVCs, appropriate government policies providing protection and support are needed for SMEs in developing, emerging, as well as developed markets (OECD 2007; UNCTAD 2010). The purpose of this study is to examine the political and strategic implications of supporting the participation of Korean SMEs in GVCs through detailed analyses of the current global competitiveness and industrial revealed comparative advantages (RCAs) of Korean SMEs. While previous studies on this topic exist, this study differentiates itself in three main ways: (1) This is the first time trade in value added (TiVA) is used to analyze Korean SMEs' industrial competitiveness. (2) The methods of Korean SME participation in GVCs are classified by domestic and foreign production, of which competitiveness is measured by domestic value added and foreign direct investment, respectively. (3) This study proposes the linkage strategy between Korean MNEs and SMEs based on the evaluation of their industrial competitiveness.

Korean SME's Capabilities for Globalization and Policy Implications
Korean SME's Capabilities for Globalization and Policy Implications

Author: Youngjoo Lee

Publisher:

Published: 2022

Total Pages: 0

ISBN-13:

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Business environment is becoming global, and so are corporate strategies. Korean SMEs (Small and Medium Enterprises) are launching their products with international market in mind. The importance of globalization strategy is increasing in correspondence with the growth of SMEs.There are unique features in SME globalization. Global firms are required to have a significant level of assets and capabilities for successful global market entrance and good performance. Many studies have examined the characteristics of global firms. However, most of their researches have focused on large and well-endowed firms from developed economies. The studies on SME globalization from emerging economies such as Korea is poorly understood and under researched. The purpose of this research is to shed light on the globalization features of Korean SMEs. Prior researches have tended to focus on large multinationals. However, increasing number of scholars are suggesting that globalization of SMEs may be different from that of large multinationals, because limited resources constrain a SME's choice of options in globalization. Despite their resource restriction, SMEs have experienced a rapid growth in global market.This research identifies globalization activities in Korean SMEs. Main purpose for examining their globalization activities is to estimate whether they have global capability for achieving the status as global SMEs. The research has also examined on the growth conditions for global SMEs. A SME can be categorizes as a global SME when the SME has the capacities enough to serve global market successfully with complex entry modes. This study will provide insights into a unique growth path of SMEs in global market.Data are obtained from the survey results collected from Korean SMEs. limited samples to manufacturing firms that have sales volume from 40 billion won to 1,000 billion won, who have potential to become global SMEs. The large firms were not included in the survey.

Korea's Participation in Global Value Chains and Policy Implications
Korea's Participation in Global Value Chains and Policy Implications

Author: Sunghoon Chung

Publisher:

Published: 2016

Total Pages: 11

ISBN-13:

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The expansion of global value chains during the past 20 years has widened the gap between export value and domestic value added, diminishing the per-unit contribution of exports to the country's economic growth. Thus, policies now need to target creating value added rather than increasing gross exports and focus on enhancing the competitiveness of input and production activities. In particular, regulatory reform must take place in the service sector to eliminate unnecessary obstacles to competitiveness. Moreover, to utilize global value chains more effectively, efforts should be made to enhance the efficiency of offshoring and attract production to the country's shores in order to create more domestic valued added and jobs.

Measuring and Analyzing the Impact of GVCs on Economic Development
Measuring and Analyzing the Impact of GVCs on Economic Development

Author: World Trade Organization

Publisher: World Trade Organization

Published: 2017

Total Pages: 0

ISBN-13: 9789287041258

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This report is about a huge contribution to our deepening understanding of what the global economy really means and how it is changing. The report helpfully distinguishes elements of an economy that are tradable and the large set that are non-tradable. Clearly the tradables set is expanding with the support of enabling technology. The report argues that connectivity in the networks that define the evolving architecture of GVCs is important. This Global Value Chain Development Report is the result of intensive and detailed work in assembling and analyzing data on the structure of economies and on how they are linked. It creates a much clearer picture of evolving patterns of independence. It also presents a much clearer picture of comparative advantage. --Publisher description.

World Development Report 2020
World Development Report 2020

Author: World Bank

Publisher: World Bank Publications

Published: 2019-11-19

Total Pages: 511

ISBN-13: 1464814953

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Global value chains (GVCs) powered the surge of international trade after 1990 and now account for almost half of all trade. This shift enabled an unprecedented economic convergence: poor countries grew rapidly and began to catch up with richer countries. Since the 2008 global financial crisis, however, the growth of trade has been sluggish and the expansion of GVCs has stalled. Meanwhile, serious threats have emerged to the model of trade-led growth. New technologies could draw production closer to the consumer and reduce the demand for labor. And trade conflicts among large countries could lead to a retrenchment or a segmentation of GVCs. World Development Report 2020: Trading for Development in the Age of Global Value Chains examines whether there is still a path to development through GVCs and trade. It concludes that technological change is, at this stage, more a boon than a curse. GVCs can continue to boost growth, create better jobs, and reduce poverty provided that developing countries implement deeper reforms to promote GVC participation; industrial countries pursue open, predictable policies; and all countries revive multilateral cooperation.

Global Value Chain Development Report 2019
Global Value Chain Development Report 2019

Author: World Tourism Organization

Publisher: World Trade Organization

Published: 2019-06-04

Total Pages: 184

ISBN-13: 9789287049674

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Global value chains (GVCs) are evolving in light of technological developments, such as robotics, big data and the Internet of Things. These technologies are reshaping GVCs and effecting changes on labor markets in developed and developing economies and on supply chain management. This report discusses how technological developments are creating new opportunities for the participation of small and medium-sized enterprises in global value chains and reviews issues related to GVC measurement. The report is a follow-up to the first Global Value Chain Development Report, which revealed the changing nature of international trade when analyzed in terms of value chains and value-added trade. This report is co-published by the World Trade Organization, the Institute of Developing Economies (IDE-JETRO), the Organization for Economic Cooperation and Development, the Research Center of Global Value Chains headquartered at the University of International Business and Economics (RCGVC-UIBE), the World Bank Group, and the China Development Research Foundation.

Global Value Chain Development Report 2021
Global Value Chain Development Report 2021

Author: Banque asiatique de développement

Publisher:

Published: 2022-01-25

Total Pages: 0

ISBN-13: 9789287054296

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A radical shift is underway in global value chains as they increasingly move beyond traditional manufacturing processes to services and other intangible assets. Digitization is a leading factor in this transformation, which is being accelerated by the coronavirus disease (COVID-19) pandemic. The Global Value Chain Development Report, the third of a biennial series, explores this shift beyond production. The report shows how the rise of services value chains offers a new path to development and how protectionism and geopolitical tensions, environmental risks, and pandemics are undermining the stability of global value chains and forcing their reorganization geographically. It is co-published by the WTO, the Asian Development Bank, the Research Institute for Global Value Chains at the University of International Business and Economics, the Institute of Developing Economies, and the China Development Research Foundation.

Korea's Participation in Global Value Chains
Korea's Participation in Global Value Chains

Author: Sunghoon Chung

Publisher:

Published: 2017

Total Pages: 33

ISBN-13:

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This paper measures the extent to which South Korea participated in global value chains (GVCs) from 1995 through 2011 and scrutinizes the consequences of such participation on the Korean economy. To this end, the World Input Output Database is utilized to calculate GVC income, GVC employment, and value-added exports created by Korean and foreign industries. Our findings show that Korea radically internationalized its production activities during the sample period, widening the gap between gross exports and value-added exports. We also document that Korea's participation in GVCs has changed the value-added and employment structures in domestic industries in accordance with their comparative advantages while exacerbating the degree of wage inequality.

Rising Asia and American Hegemony
Rising Asia and American Hegemony

Author: Paul Hong

Publisher: Springer Nature

Published: 2020-02-07

Total Pages: 256

ISBN-13: 9811376352

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This book provides an overview of evolving patterns of trade partnership with historical perspective. It presents changing requirements of industry competitiveness and explains the vital relationships between trade partnerships and industry competitiveness. As well, it further examines the interactive relationships between trade partnerships and industry competitiveness. In recent years, with decreasing strategic alliances among nations and less visibility of international governance mechanisms (e.g., WTO) and counter to globalization, preferential trade agreements and free-trade agreements have proliferated among nations. At the same time, industrial competitiveness is becoming a serious strategic policy priority of nations—both advanced and emerging economies. Theoretical discussion focuses on the practices of global network capabilities for the top of the pyramid (ToP) and base of the pyramid (BoP). Special focus is on trade partnerships and industry competitiveness in the Asian economies (China, Japan, South Korea, India, Indonesia), three ASEAN nations (Vietnam, Thailand, and Malaysia), and Mexico. Extensive industry and firm-level case studies discuss ToP and BoP interface capabilities in the form of manufacturing and services life-cycle management, which extends value creation and delivery of manufacturing and services. This extension integrates the cloud ecosystem, such as timely data/information/knowledge flows via the virtual world; and ground value chains, such as the flow of complex real goods and services in the visible world.

Global Value Chains and the Skill-biased Effects on Wages in Korea
Global Value Chains and the Skill-biased Effects on Wages in Korea

Author: Heeseon Choi

Publisher:

Published: 2022

Total Pages: 0

ISBN-13:

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Global Value Chains (GVCs) are known to have a skill-biased effect on the wage structure in developed countries. If the skill groups are divided into two - high-skilled vs low-skilled groups - then the direction of the skill-biased effect is clear in the existing literature. Many studies have pointed out that deepening of GVCs has more detrimental effects on the low-skilled group, though the size of the effect was controversial. The OECD (2015) argued that a skill-biased effect on wages was not that large, and it was also associated with the type of engagement of GVC participation.If the skill levels are divided by three - high-skilled, medium-skilled, and low-skilled groups - then the direction of the skill-biased effect is obscure, especially that of the medium-skilled group. It is about which groups - medium-skilled vs low-skilled- suffers more detrimental effects from deepening GVCs. Acemoglu and Autor (2011) argued that employment and wages in many developed countries were recently polarized, which means that international competition due to globalization has targeted primarily medium-skilled labor. Low-skilled jobs, such as cleaning or nursing care services, are relatively difficult to off-shore, since those jobs are offered on a person-to-person basis. However, technology development and its impact on GVCs have intensified in recent years, and the negative impact on low-skilled workers is more significant.This study analyzes the skill-biased effect of GVCs on wages in Korean manufacturing and derives policy implications. Skill groups are divided into three groups - high-skilled, medium-skilled, and low-skilled- according to the education level. To derive the policy implications, we also refer to the German case. The German economy, as well as the Korean economy, has grown significantly with the GVCs in the 2000s.