This paper examines the services global value chain activities in Korea using the TiVA (Trade in Value-Added) database and firm-level data. The results indicate that Korea’s services sector has been expanding gradually, with its value-added share increasing from nearly 50 per cent during the...

This paper examines the role of firm heterogeneity in multinationals' choice of FDI type and location. Using Korean firm-level data, we find that more productive firms are more likely than their less efficient counterparts to invest in tough markets and choose horizontal FDI against vertical or...