This study examined the intricate effects of the COVID-19 pandemic on international trade complexity. Focusing on major international trading entities such as Hong Kong, Korea, China, Japan, and the U.S., we evaluated how confirmed COVID-19 cases and government responses influenced trade patterns, particularly in exports and imports. We employed a seemingly unrelated regression (SUR) analysis with cyclic regression coefficients to scrutinize changes in trade relationships between 2020 and 2021. Korea serves as the central country for this analysis, and the findings extend to other nations. The results revealed the varied impact of COVID-19 on trade across countries. Exports from Korea to China were correlated with COVID-19 case numbers and government actions in both countries. Additionally, imports from China, Japan, the U.S. and Vietnam—excluding Hong Kong—were significantly influenced by confirmed COVID-19 cases in Korea, reflecting the demand dynamics. Government interventions also played a substantial role in shaping trade patterns. Previous studies have primarily focused on financial markets and supply chains, whereas our study analyzed the changes in trade with Korea’s five largest trading partners: China, the U.S., Japan, Vietnam, and Hong Kong. Notably, we utilized long-term data and changes in major trading partners in Asia over time.

Park, S.; Kim, H.; Choi, S., and Kim, T., 2023. The impacts and implications of interest rate hike on Korean shipping companies. In: Lee, J.L.; Lee, H.; Min, B.I.; Chang, J.-I.; Cho, G.T.; Yoon, J.-S., and Lee, J. (eds.), Multidisciplinary Approaches to Coastal and Marine Management. Journal of Coastal Research, Special Issue No. 116, pp. 418-422. Charlotte (North Carolina), ISSN 0749-0208. The COVID-19 pandemic has resulted in record-breaking container freight rates and profits for the top 10 global container carriers. This shipping industry upswing has been fuelled by the surge in money supply prompted by the aggressive monetary policies of major economies, which is driving global inflation. The U.S Federal Reserve has raised it's the federal funds rate in response to soaring prices, and the Bank of Korea has followed suit, increasing its key policy rate to 3.50 % on 10 occasions between August 2021 and January 2023. The study initially analyzed the developments in domestic and international shipping markets as well as the responsiveness of shipping firms to changes in the global economy. It then assessed the financial impact of probable interest rate hikes on Korean shipping companies utilizing scenario analysis. The findings reveal that a predicted 3 % increase to the key policy rate in 2022 would result in a KRW 1.65 trillion (116 %) rise in interest expenditure across the 127 shipping companies. Ultimately, the Korean shipping sector is expected to ready itself for the impending recession in the post-COVID-19 epoch through the provision of precautionary support measures and policy implications in response to the predicament induced by interest rate hikes.

This study examines the effects of the International Maritime Organization’s (IMO) market-based measures, with a particular focus on the greenhouse gas (GHG) levy and on the financial and operational performance of Korean shipping companies. The analysis estimates that these companies, which play a vital role in global trade, consume approximately 9211 kilotons of fuel annually and emit 28.5 million tons of carbon dioxide. Under the lowest proposed carbon tax scenario, the financial burden on these companies is estimated at approximately KRW 1.07 trillion, resulting in an 8.8% reduction in net profit, a 2.4% decrease in return on equity (ROE), and a 1.1% decline in return on assets (ROA). Conversely, under the highest carbon tax scenario, costs rise to KRW 4.89 trillion, leading to a significant 40.2% decrease in net profit, thereby posing a serious threat to the financial stability and competitiveness of these firms. These findings underscore the urgent need for strategic policy interventions to mitigate the financial impact of carbon taxation while promoting both environmental sustainability and economic resilience in the maritime sector.