한국의 대중국 해외직접투자의 입지 결정요인에 관한 연구: 시장추구와 지식추구를 중심으로

he Locational Determinants of Korean Companies’ FDI in China: Focusing on Market-seeking and Knowledge-seeking Motivation

This paper explores the locational determinants of Korean Companies’ FDI flows to China 26 regions by using panel data for the period 2004-2014. Concerning theoretical background, this paper is based on the conventional perspective consisting of the ownership-specific, location-specific, and internalization-specific advantages, especially the location-specific advantages. The main findings of this paper are as following. First, the market size and the number of HTIDZ (High Tech Industry Development Zone) are very significant factors in Korean investors’ choice of FDI location in China. Second, the geographic distance and the number of ETDZ (Economic Technology Development Zone) show negative and significant coefficients. Lastly, labor cost, trade openness, and infrastructure condition are not identified as significant determinants of Korean FDI in China. The main contribution of this study is to prove that the Korea’s investment motivation is turning from resource-seeking to knowledge-seeking. Additionally, this paper provides some empirical business implications for organizational managers and contributes to theoretical advancements.