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The purpose of this paper is to review characteristics and functions of an advance payment guarantee (AP-Bond), and to analyse some legal and practical issues concerning a “reduction clause” in an AP-Bond under an overseas construction contract.

This paper compares relevant provisions of the URDG 758, the UN Convention, the ISP 98, and the FIDIC Silver Book, and also cites relevant case laws of the USA, UK and Korea. This paper also refers many Korean scholars’ views on characteristics of an independent guarantee including an AP-Bond.

A demand for payment under an AP-Bond shall not be honoured in the event that an employer wrongfully refuses to issue documents required for reduction of an AP-Bond. A beneficiary shall not be favoured by independence nature of an AP-Bond in case of fraud or abuse of right.

This paper originally analyzes a “reduction clause” in an AP-Bond. This paper provides logics that a demand for payment shall not be honoured in the event that a beneficiary wrongfully refuses to issue documents required for reduction of an AP-Bond.

The purpose of this paper is to explore the interconnection between the corporatisation of K-beauty and Korea’s nation branding exercise and its links with soft power. Through the investigation of the transformation of Korea’s beauty industry, the authors seek to illustrate the inter-relationship of the market systems and national identification practices.

This study employed the qualitative case study approach to examine the latest development of Korea’s medical tourism. Through analysing a variety of secondary data that associated to the latest development of cosmetic tourism, this paper presents the impact of the transformation and reconfiguration of Korea’s beauty industry on the country’s nation branding strategy and the development of Korea’s soft power in the global marketplace.

The findings highlight how Korea’s new cosmetic tourism industry contributed to the renewal of Korea’s nation brand in the global market. The findings also illustrate the interconnection of the emerging Korean popular cultural products (K-pop and K-beauty) in the regional and global marketplace.

The findings demonstrate the role of market in re-defining a nation’s brand and identity. The findings also illustrate how market-driven strategy influences the development of a nation’s soft power in the regional and/or global marketplace.

The study shows that practitioners can be active agents in nation branding. Through highlighting strategies to develop soft power within and beyond the country boundary, this study shows how market agents, governments and other stakeholders can co-create a market system that transform and reconfigure the nation brand in the global marketplace.

In additional to explore the transformation of the beauty industry in Korea, this paper also presents the history and transformation of the beauty standards in Korea and other Asian cultures. Such dialogue invites marketing and consumer researchers to further explore the role of history and culture in guiding the production and consumption of new (consumption) standards.

This is the first paper that connects the theory of soft power in nation branding and country-of-origin literature. The case analysis of the socio-historical development of K-beauty also demonstrates how non-Western cultural goods enter the international marketplace. In summary, this paper provides new conceptual framework that illustrates a new collaborative mechanism that engages government and practitioners to co-create new cultural norms and standards to the local and international markets.

This paper aims to present a case study investigating Chinese tourists’ perceptions of North Korea which is regarded one of the most unique tourism destinations in the world.

This exploratory study reports findings based on semi-structured interviews with 30 Chinese tourists. This study uses the cognitive-affective model to categorise destination image proposed by respondents. Data were analysed using content analysis.

The study found that the cognitive image focusses on attributes such as the country’s unique economic/political situation, unspoiled natural environment and poor infrastructure construction. Affective components centre on the friendly relationship between China and North Korea, and a comparison between North Korea’s current situation and that of China during the period of the cultural revolution.

Given the qualitative approach and exploratory nature, the results may not be generalised to the wider literature of the Chinese outbound market. This article’s theoretical contribution to destination image may be limited to Chinese cultural contexts. This study provides practical implications for promoting North Korea’s images to attract more Chinese visitors.

Cognitive-affective model, as one of the most commonly used models, was used to explore North Korea’s destination image in Chinese tourists’ eyes. In addition, this study highlights the importance of politics in influencing a country’s destination image.

这篇文章探究朝鲜作为世界上最神秘的旅游目的地之一在中国游客心目中的形象。

这个探索性研究报告的发现是基于和30位中国游客的半开放式访谈。认知情感模型被用来概括访谈对象提出的目的地形象。内容分析用来进行数据分析。

这个研究发现认知影响主要关注于国家特殊的经济、政治情况, 未受污染的自然环境和落后的基础设施建设。情感印象主要关注于中朝鲜友谊和目前的朝鲜与文化大革命时期的中国相比较。

作为探索性研究, 这篇文章的发现可能没法通用于中国出境游的市场。这篇文章的理论贡献可能局限于中国文化。这篇文章也为如何宣传朝鲜作为旅游旅游目的地来吸引中国游客提出了实际建议。

认知情感模型作为最常用的模型用来探索朝鲜在中国游客心里的目的地形象。除此之外, 这个研究强调了政治作为影响目的地形象的因素。

este documento presenta un estudio de caso que investiga las percepciones de los turistas chinos sobre Corea del Norte, considerado uno de los destinos turísticos más singulares del mundo.

este estudio exploratorio informa resultados basados en entrevistas semiestructuradas con 30 turistas chinos. Este estudio utiliza el modelo cognitivo-afectivo para clasificar la imagen de destino propuesta por los encuestados. Los datos se analizaron mediante análisis de contenido.

el estudio encontró que la imagen cognitiva se enfoca en atributos tales como la situación económica/política única del país, el entorno natural virgen y la construcción de infraestructura deficiente. Los componentes afectivos se centran en la relación amistosa entre China y Corea del Norte, y una comparación entre la situación actual de Corea del Norte y la de China durante el período de la Revolución Cultural.

de la investigación: dado el enfoque cualitativo y la naturaleza exploratoria, los resultados pueden no generalizarse a la literatura más amplia del mercado emisor chino. La contribución teórica de este artículo a la imagen de destino puede estar limitada a los contextos culturales chinos.Este estudio ofrece implicaciones prácticas para promover las imágenes de Corea del Norte para atraer a más visitantes chinos.

el modelo cognitivo-afectivo como uno de los modelos más utilizados se utilizó para explorar la imagen de destino de Corea del Norte a los ojos de los turistas chinos. Además, este estudio destaca la importancia de la política para influir en la imagen de destino de un país.

During the last 20 years trade between Korea and Mexico has increased steadily, reaching $2.8 billion in 2003. This trade expansion will be further accelerated with the increase in intra-industry trade in the future. Mexico's chronic trade deficit against Korea, which is attributed to Korea's increasing investment in Mexico, has rather contributed to Mexico's exports to the American region.

As Mexico expands its FTA networks, Korean companies are having difficulties in accessing the Mexican market. Considering this situation and the economic benefits of a Korea-Mexico FTA for both countries, we should first expand cooperation between private sectors, which is expected to facilitate a formal discussion on the Korea-Mexico FTA.

Using a dynamic perspective this article examines, the general situation of the development of South Korean direct investment in China since 1992, when the two countries established diplomatic relations. It probes many characteristics of South Korean direct investment in China: its late start yet rapid rise; the smaller average value of Korean project investments; the accelerated process of localization by large South Korean enterprises in China; the diversified industrial distribution; and the wide-ranging geographical distribution. It analyses the reasons for the rapid increase in South Korean investment in China: the use of China's low-priced production factors, the direct entry of South Korean enterprises into the Chinese market, and the stable investment environment with fewer labor disputes that China provides. Finally, this article also proves that South Korean enterprises have achieved satisfactory results from their direct investment in China.

The study of international business has become increasingly important in recent years. So important that the American Assembly of the Collegiate Schools of Business (AACSB) has called for the internationalisation of business curricula. In 1992 and beyond, successful business people will treat the entire world as their domain. No one country can operate in an economic vacuum. Any economic measures taken by one country can affect the global economy. This book is designed to challenge the reader to develop a global perspective of international business. Globalisation is by no means a new concept, but there are many new factors that have contributed to its recently accelerated growth. Among them, the new technologies in communication and transport that have resulted in major expansions of international trade and investment. In the future, the world market will become predominant. There are bound to be big changes in the world economy. For instance the changes in Eastern Europe and the European Community during the 1990s. With a strong knowledge base in international business, future managers will be better prepared for the new world market. This book introduces its readers to the exciting and rewarding field of international management and international corporations. It is written in contemporary, easy‐to‐understand language, avoiding abstract terminology; and is organised into five sections, each of which includes a number of chapters that cover a subject involving activities that cross national boundaries.

Since 1988 Russia and Korea have been developing bilateral economic relations. After the conclusion of, the first trade agreement, Korea has become one of the largest trading and investment partners of the Russian Far East. Annually, Korea has increased trade and investment flows to the Russian Far East, a region with high growth potential. By the 2000s Korea has become the Russian Far East’s third largest trading partner. This article considers trade and investment flows from the 1990s to the present, analyses the prospects of achieving goals, and the problems of developing further bilateral cooperation between Russia and Korea.