여행사의 외환위험관리기법에 관한 연구

A Study on Developing the Method of Managing Foreign Exchange Risk

This study intends to protect travel agencies from their exposure to foreign exchange risk and fluctuation of foreign exchange rate by proposing the method for such travel agencies to be able to simply use in order to minimize such risk through developing the method of managing foreign exchange risk. In this research, the method of managing foreign exchange risk are generally reviewed and established. Thereafter empirical research is performed by questionnaires. Risk management of foreign exchange of travel agencies could be explained in two ways Transactional foreign exchange risk is an embedded foreign exchange risk caused by a travel package to be paid in foreign currency in performance of obligation under such contract. For a travel agencies, economic foreign exchange risk is a transaction exposure, which is possibility for national currency to be influenced by fluctuation of foreign exchange rate when making payment in foreign currency such as settlement of landing fee, etc. An external management method of economic foreign exchange risk is not effective for a travel agencies. Accordingly, in the future, various studies regarding risk management method of foreign exchange in a travel industry should be continued.