• Land and Housing Review
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• v.2 no.4
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• pp.367-377
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• 2011

This paper investigates the determination factors' variation of real estate price after sub-prime financial crisis, in korea, using a VAR model. The model includes land price, housing price, housing rent (Jensei) price, which time period is from 2000:1Q to 2011:2Q and uses interest rate, real GDP, consumer price index, KOSPI, the number of housing construction, the amount of land sales and practices to impulse response and variance decomposition analysis. Data cover two sub-periods and divided by 2008:3Q that occurred the sub-prime crisis; one is a period of 2000:1Q to 2008:3Q, the other is based a period of 2000:1Q to 2011:2Q. As a result, Comparing sub-prime crisis before and after, land price come out that the influence of real GDP is expanding, but current interest rate's variation is weaken due to the stagnation of current economic status and housing construction market. Housing price is few influenced to interest rate and real GDP, but it is influenced its own variation or Jensei price's variation. According to the Jensei price's rapidly increasing in nowadays, housing price might be increasing a rising possibility. Jensei price is also weaken the influence of all economic index, housing price, comparing before sub-prime financial crisis and it is influenced its own variation the same housing price. As you know, real estate price is weakened market basic value factors such as, interest rate, real GDP, because it is influenced exogenous economic factors such as population structural changes. Economic participators, economic officials, consumer, construction supplyers need to access an accurate observation about current real estate market and economic status.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.16 no.4
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• pp.115-133
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• 2021

This study examines the concept and related technologies of the 4th industrial revolution that has been mixed so far and examines the socio-economic changes and influences resulting from it, and the cases of responding to the 4th industrial revolution in major countries. Based on this, by deriving SWOT factors and calculating the importance of each factor for Korean venture companies to prepare for the forth industrial revolution, it was intended to help the government and policymakers in suggesting directions for establishing related policies. Furthermore, the purpose of this study was to suggest a direction for securing global competitiveness to Korean venture entrepreneurs and to help with basic and systematic analysis for further academic in-depth research. For this study, a total of 21 items derived through extensive literature research and data research to understand what are the necessary competency factors for internal and external environmental changes in order for Korean venture companies to have global competitiveness in the era of the 4th Industrial Revolution. After reviewing SWOT factors by three expert groups and confirming them through Delphi survey, the importance of each item was analyzed by using AHP, a systematic decision-making technique. As a result of the analysis, it was shown that Strength(48%), Opportunity(25%), Threat(16%), Weakness(11%) were considered important in order. In terms of sub-items, 'quick and flexible commercialization capability', 'platform/big data/non-face-to-face service activation', and 'ICT infrastructure and it's utilization' were shown to be of the comparatively high importance. On the other hand, in the lower three items, 'macro-economic stability and social infrastructure', 'difficulty in entering overseas markets due to global protectionism', and 'absolutely inferior in foreign investment' were found to have low priority. As a result of the correlation verification by item to see differences in opinions by industry, academia, and policy expert groups, there was no significant difference of opinion, as industry and academic experts showed a high correlation and industry experts and policy experts showed a moderate correlation. The correlation between the academic and policy experts was not statistically significant (p<0.01), so it was analyzed that there was a difference of opinion on importance. This was due to the fact that policy experts highly valued 'quick and flexible commercialization', which are strengths, and 'excellent educational system and high-quality manpower' and 'creation of new markets' which are opportunity items, while academic experts placed great importance on 'support part of government policy', which are strengths. The implication of this study is that in order for Korean venture companies to secure competitiveness in the field of the 4th industrial revolution, it is necessary to have a policy that preferentially supports the relevant items of strengths and opportunity factors. The difference in the details of strength factors and opportunity factors, which shows a high level of variability, suggests that it is necessary to actively review it and reflect it in the policy.

• Journal of Korean Port Research
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• v.6 no.2
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• pp.65-92
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• 1992

The Korean central government has not appreciate the full extent of the impact of seaports on the national economy. As a consequence port investment has not been given sufficient priority and capacity has failed to keep pace with demand. The principal reason for this failure is the fact that the linkages (or relationships) of the port transport industry with other sectors have not been quantified and fully appreciated. To overcome this dificiency this paper developed a port input-output model to determine the economic impact of the port industry on the national economy. This impact study was conducted by analysing the impact of the Korean port industry upon the national economy from the macroeconomic viewpoint, and identifying the spreading effects of port investments upon the nation's economy. The analysis of the economic impact of the port industry suggests that its contribution to the Korean economy is substantial. What the model shows is, in quantifiable terms, there are the strong economic linkages between the port industry and the other sectors of the national economy. The contribution of the port industry to the Korean economy was summarised in the Conclusion section.

• Environmental and Resource Economics Review
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• v.21 no.1
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• pp.175-210
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• 2012

As London and post-Koyto protocols presumably affect emission of organic waste in Korea in 2012, appropriate treatment of organic waste becomes very important. Organic wastes are regarded as non-point pollutants. It has been criticized that direct emission charges on the emission of non-point pollutants are not effective due to the high uncertainty in the relationship between pollution sources and pollution levels. This study suggests indirect emission charges on production of livestocks or consumption on foods. Furthermore, it is assumed that revenue from the emission charges will be recycled to support biogas production. Biogas can be fueled to produce energy. In order to evaluate potential economic and environmental impacts of recycling the indirect emission charges on organic wastes, a static CGE model was developed. Simulation results of emission charges on the production of livestock show that livestock, agriculture, and food industry will confront relatively high burden while emission charges on consumption of food will affect more broadly and consumers will suffer more. Production charge on livestock sector will lead to higher reduction in GDP and total expenditure relative to the consumption charge. GHGs reduction effect was higher for the consumption charge relative to the production charge. Synthetically, consumption charge on food sector is more desirable as an alternative charge for the emission of organic wastes.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.17 no.7
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• pp.648-655
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• 2016

As the FTAs' implementations are accelerated, an Ex-post assessment, such as an analysis of the tariff schedule and agricultural trade has been emerging as an important national issue for an agricultural sector Korea-EU FTA, which was to be implemented in the five years from July 2016 as one of the giant FTA. The purpose of this study was to determine the demand of an ex-post assessment on agricultural sector as a trade negotiation procedural law. In addition, by providing policy direction for the agricultural policy part requiring amendments and supplements through ex-post assessment, the conflicting arguments between agricultural and non-agricultural sector can be evaluated more objectively. The current evaluation method on the economic impact ex-post assessment of a FTA is generally compared using the change in trade balance before and after the time of FTA implementation. On the other hand, this comparison cannot be said to be the pure FTA effects and objective, tightening economic impact assessment of the FTA in all combined situations, such as the effects of exchange rates and international macroeconomic changes and climate change & occurrence of pests. Over the last 4 years, however, Korea-EU FTA's total accumulated agricultural GDP loss was measured to be 2,178 billion by these research attempts with dynamic analysis as ex-post assessment methodology. The greatest impact was mainly livestock and pork followed by cereals and vegetables. In addition, this research is expected to contribute to policy evaluations in the future.

• The Journal of the Korea Contents Association
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• v.15 no.10
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• pp.457-467
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• 2015

Despite the recent phenomena of Chonsei price increase, low interest rate and low growth, the indexes of financial and insurance industry production showed the results contrary to the common belief that the financial industry is sensitive to such financial crises. This is because the index of financial industry has continuously maintained a certain level of increase as opposed to the index of all industry production. Thus, this study aimed to analyze the dynamic correlation between the index of financial industry production and Chonsei price increase. A vector autoregression (VAR) model, which doesn't have a cointegrating relationship, was used to define the Chonsei price index and the indexes of all industry production and financial and insurance industry, which are macro economic variables, and describe the data. The results of the analysis on the time series data of 183 months from January 2000 to May 2015 showed that Chonsei price increase was not directly derived from the index of financial industry, but the finance industrial index affected Chonsei price increase.

• The Journal of Bigdata
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• v.2 no.1
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• pp.59-69
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• 2017

According to precedent research of disaster economics, most of the studies are either based on belated macroeconomic indicators or are limited to specific industries. It is certain that preventing disaster is important, but immediate analysis and reconstruction policy are crucial as well. This research analyzed the ripple effect of consumer spending followed by April 16 ferry disaster and MERS outbreak; it was done by applying credit card company's real-time big data with Marketing Mix Modeling. The main focus of this research is to see if it is possible to predict the scale of damage during ongoing disasters. It is found that setting up weekly MMM and moving the timeline draws significance conclusion. When disasters or events occur in future, this research may be the basis of building quick and intuitive indicator to monitor possible effects.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.19 no.12
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• pp.491-497
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• 2018

This study analyzes the relationship between R&D input and performance using panel data from the defense industry. A research model is established based on the R&D logic model, and the study sample consists of a strongly balanced panel data (n=351) empirically analyzed using panel linear regression. Results identified that defense improvement expenditure has a positive influence on the R&D input, and R&D input positively affected patents using a 5-year time lag. In addition, R&D input positively impacts economic performance, including sales and profit. Hence, the major finding includes R&D inputs have statistically significant effects on economic outcome and the R&D logic model featuring a time-lag.

• The Journal of the Convergence on Culture Technology
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• v.7 no.1
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• pp.511-517
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• 2021

In this paper, we analyzed the impact of capital adequacy requirements on the profitability of Korean banks using DOLS model. As a result of the analysis, the impact of BIS capital ratios on commercial and regional banks was different. Demand for capital adequacy has a greater and more significant negative impact on regional banks than on commercial banks. It was shown that bank characteristic variables rather than macroeconomic variables have a more significant effect on bank profitability. In addition, a rise in the BIS capital ratio reduces the profitability of commercial and regional banks, and the higher the ratio of loan-loss provisions, the stronger the relationship. In the case of commercial banks, it is estimated that the demand for capital adequacy did not have a significant impact as they are relatively large and faithful in capital compared to regional banks. However, in the case of regional banks, safer assets need to be selected to meet the BIS capital ratio, and the increasing propotion of these safe assets seems to have a relatively greater negative impact on profitability. Consequency, the financial authorities should consider this results and implement the bank's capital regulation policy.

• International Area Studies Review
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• v.13 no.3
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• pp.385-412
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• 2009

This study first analyzes economical environment change (factor) of investment nation Japan and Japanese enterprise at the analysis of Japanese enterprise's over-seas expansion factor and influence. As a result of an analysis of the factor about Japanese enterprise's overseas expansion from 1990 to 1996 and from 1998 to 2006, commonly applied factors were Yen exchange rate, interest rates, wage, enterprise profit, facility investment, and consumption expenditure. Especially, as a result of regression analysis, a sudden change of "low interest rate" was main factor at Japanese enterprise's overseas expansion from 1990 to 1996, and Japan's "Yen ex-change rate" was drawn as an important factor from 1998 to 2006. That is, from 1990 to 1996, a shock by a sudden rise in Yen value could be viewed gradually accumulated and absorbed inside Japanese economy from 1998 to 2006. Whereas it could be said that Japanese enterprise's overseas expansion was accelerated under Japanese government's overseas supporting policy and "low interest rate" together with the factor in the rise of Yen value from 1998 to 2006.