• Journal of the Economic Geographical Society of Korea
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• v.7 no.1
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• pp.65-81
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• 2004

Foreign direct investment (FDI) by firms has various motives in terms of the strategy for firms' long-term growth. This research uses the case study of Hyundai Motor Manufacturing Alabama to analyze the motives of the Korean auto industry's FDI in the U.S. and the locational factors that determined the selection of the site. This paper starts from the question of why Hyundai made the decision to invest in the U.S., which is not favorable in terms of production cost, especially considering that its exports to the U.S. have been on the increase. The results indicate that the strongest motive for the decision to invest in the U.S. was to ameliorate the trade friction between Korea and the U.S. Given that Hyundai depends on the U.S. market to a large extent for its exports, the foremost motive was to use local production in order to reduce the serious trade imbalance in the automobile sector between Korea and the U.S. in order that trade friction with the U.S. may be avoided and causes for trade disputes may be reduced. Other motives such as improving the access to local consumers were of secondary importance. After the selection of the country in which to invest, however, various factors were considered in the decision regarding the location of the plant, and incentives by local governments ultimately played a key role in this decision. The results imply that the Korean manufacturing industry's investment in the U.S. cannot be explained by traditional FDI theories and instead was greatly driven by a strategic defensive motive. In addition, the results confirm that the design of an appropriate incentive structure by host governments is important for attracting FDI.

• Journal of the Korean Institute of Landscape Architecture
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• v.41 no.4
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• pp.85-101
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• 2013

The primary goal of this research is to link two currently disconnected literature; the history of urban redevelopment and the one of urban parks and open spaces in the United States (US). Through this exercise, this study attempts to reveal examples of urban parks and open spaces that have yielded economic effects, and emphasize their possibility as a measure of urban redevelopment. Five phases are presented, starting with two Pre-World War II urbanization periods, and three subsequent periods of Post-World War II urban redevelopment (1940s~1960s, late 1960s~1970s, 1980s~present). While urban parks in the 19th century urbanization period held a preeminent place in urban design, policy and economy, ensuing depression and World War II diminished their role as a channel to ease unemployment. In the first phase of urban redevelopment, the economic motive to build open space was to boost the appeal of specific locales in order to draw people and businesses back to a neglected city. In the second phase, public effort to create and maintain urban parks and open spaces declined due to the budget austerity, instead, community open spaces flourished through the voluntary actions and helped neighborhoods to regain desirability. In the third phase, the aspirations and functions of such projects resemble their forerunners of the first phase, but their targets extended to global businesses and elites.

• Journal of Korea Port Economic Association
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• v.34 no.3
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• pp.133-158
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• 2018

The role and ratio of national vessels in the global container shipping market have reduced significantly due to the bankruptcy of Hanjin Shipping in early 2017. All import-export companies, as well as container ports in Korea, are facing a crisis. The Trump's tariff and trade battles have had a negative impact on the increase in the North American cargo. However, Chinese and Japanese container shipping companies, which merged with domestic container shipping companies, and mega carriers such as Maersk and CMA CGM have benefited from the decline in shipping supplies due to the collapse of Hanjin Shipping, the world's 10th largest container carrier in Korea. The import/export freight trade in Korea is witnessing the increasing stronghold of foreign carriers. This scenario is expected to weaken Korea's negotiation powers with overseas shipping companies in domestic ports, such as Busan and Kwangyang, thereby making it more challenging to attract shipping carriers. This study compares the global container-shipping network in 2007 and 2017 by combining the network topology of the social network analysis and the economics of the liner shipping connectivity index (LSCI) and the container port connectivity index (CPCI) analysis. The findings of this study are that the role of the ports across the world can be identified, and CPCI has a high correlation with the centrality index and freight volume data. These findings can contribute toward the utilization of the meaning of the necessary centrality index without an additional centrality analysis. This study can be applied not only to the call strategy of container carriers but also to the alliance and development strategy of Korean ports.

• Journal of Korea Port Economic Association
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• v.37 no.3
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• pp.19-34
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• 2021

Yeosu Gwangyang Port, along with Busan Port, Incheon Port, Ulsan Port, and Pyeongtaek Dangjin Port, serves as Korea's top five ports for trade on the southern coast. It is the second largest port in Korea after Busan Port, and the largest port in terms of import and export volume. Yeosu Chemical Industrial Complex, the world's largest chemical industrial complex, has continued to grow rapidly, but recently, the increase in volume has been decreasing. Therefore, this study sought to find major development strategies for the development of Yeosu Gwangyang Port and to derive the priorities of the strategies. To this end, the development strategy of Yeosu Gwangyang Port was divided into three major categories: operation revitalization, infrastructure construction, and policy support using the AHP analysis technique and analyzed again in two aspects: short, medium, and long term. As a result of the analysis, 'integrated operation of container docks and strengthening competitiveness' were considered the most important in short- and medium-term policies. It is believed that it will be necessary to integrate container operators, establish routes in preparation for entry of super-large ships, and install large cranes. In the long-term policy, the most important thing was to foster high value-added industries based on local industries. It is believed that strategies are needed to attract companies from outside regions through the settlement support system. The results of this study are expected to be used to establish development strategies for Yeosu Gwangyang Port and to establish investment priorities.

• Information Systems Review
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• v.20 no.1
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• pp.137-158
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• 2018

Online platforms recently expanded their connectivity through an authing service. The growth of authing services enabled consumers to enjoy easy log in access without exerting extra effort. However, multiple points of access increases the security vulnerability of platform ecosystems. Despite the importance of balancing authing service and security, only a few studies examined platform connectivity. This study examines the optimal level of authing service of a platform and how authing strategies impact participants in a platform ecosystem. We used a game-theoretic approach to analyze security problems associated with authing services provided by online platforms for consumers and other linked platforms. The main findings are as follows: 1) the decreased expected loss of consumers will increase the number of players who participate in the platform; 2) linked platforms offer strong benefits from consumers involved in an authing service; 3) the main platform will increase its effort level, which includes security cost and checking of linked platform's security if the expected loss of the consumers is low. Our study contributes to the literature on the relationship between technology convenience and security risk and provides guidelines on authing strategies to platform managers.

• The Korean Journal of Air & Space Law and Policy
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• v.33 no.1
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• pp.147-174
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• 2018

The air transportation industry is a field where control and interference of the state are generalized compared to other industries. However, the premise for national intervention in the air transportation industry is the determination of the nationality of the aircraft or airline company concerned. This is because it is necessary to clarify the distinction between the domestic and foreign carriers so that they can exercise airspace sovereignty. The purpose of this paper is to compare the current status and contents of Korean law and regulations on the determination of nationality with the foreign legal system. To this end, the starting point of the discussion is to look at the history of nationality restrictions on the US air transport industry and the issues that arise in the content and operation of the system today. In addition, this paper examined the provisions of the Japanese aviation law, which is very similar to that of Korea, and then compared the current legal provisions of the United States, Japan and Korea. As a conclusion, this paper sought the direction of revision of the Korean law on the basis of the foreign status of the restriction of nationality in the air transportation industry. Compared with our law, the US and Japan are generally regarded to be more concerned with the contents of their own airline companies than those of foreigners or non-citizen. In spite of the fact that there are many laws and regulations in the United States regarding the de facto dominance of domestic airline companies by foreigners, there have been a lot of controversies in this matter. By the way, Japan has been stipulating regulations on holding companies and affiliated companies. In the global era, it would be meaningful to check the status of the nationality restrictions in the aviation industry, which is based on internationality. I hope that this study will be able to build a legal institutional basis for Korea's aviation industry development from a reasonable protectionist point of view rather than a narrow nationalism in a rapidly changing era.

• International Area Studies Review
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• v.22 no.3
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• pp.3-27
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• 2018

This paper analyzes Cuba's market-oriented reforms to alleviate essential problems with socialist countries such as soft budget constraints and incentive problems. It also discuss about effectiveness of industrial policy as a development strategy. The soft budget constraints and incentive problems resulted in the collapse of Soviet bloc and COMECON in early 1990s. After the collapse, Cuban economy suffered a steep dive, and national income tumbling down rapidly. Cuban faced serious shortages of food, gasoline, and other basic necessities of life. To halt and partially reverse economic downturn and dire austerity in the 1990's, the Cuban government made some partial reforms to the inherited Soviet system of cental planningand faced severe shortage in food, energy, and daily necessities. In response to the economic crisis. Cuba introduced economic reforms and implemented industrial policy as a development strategy as long as Cuba maintained a strong socialist country. Cuban government established the economic free zone law and attempted to induce foreign direct investment by implementing export-led industrial policy. Fiedel Castro approved the Law No. 165 "Free Zones and Industrial Parks", in 1996. However, Cuba's ESZ strategy seems to have failed because of the U.S. sanctions, but also because of Cuba's own policies, which do not allow foreign investors to hire workers directly and impose a high implicit tax on wages. By limiting advanced techniques of personnel and organization management, indirect employment can result in lowering work efforts and productivity of workers, and aggravating production efficiency in the ESZs. Another reason to fail comes from the double wage structure due to the double monetary-exchange rate system. Most of the high non-wage costs result from the double exchange rate system. Due to Cuba's imbalanced industry and production structures, concentrated labor force, and urbanization and centralization of agriculture production, the industrial transformation development model suggested by Lewis has not been successful unlike other Asian agriculture-led development model. Cuba has to overcome many difficulties in implementing industrial policy as a development strategy.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.18 no.3
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• pp.17-32
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• 2023

In recent years, the need for social ventures that aim to grow while solving social problems through the efficiency and effectiveness of commercial organizations in the market has increased, while there is a limit to how much the government and the public can do to solve social problems. Against this background, the number of social venture startups is increasing in the domestic startup ecosystem, and interest in impact investors, which are investors in social ventures, is also increasing. Therefore, this research utilized judgment analysis technology to objectively analyze the validity and weight of judgment information based on the cognitive process and decision-making environment in the investment decision-making of impact investors. We proceeded with the research by constructing three classifications; first, investment priorities at the initial investment stage for financial benefit and return on investment as an investor, second, the political skills of the entrepreneurs (teams) for the social impact and ripple power, and social venture coexistence and solidarity, third, the social mission of a social venture that meets the purpose of an impact investment fund. As a result of this research, first of all, the investment decision-making priorities of impact investors are the expertise of the entrepreneur (team), the potential rate of return when the entrepreneur (team) succeeds, and the social mission of the entrepreneur (team). Second, impact investors do not have a uniform understanding of the investment decision-making factors, and the factors that determine investment decisions are different, and there are differences in the degree of the weighting. Third, among the various investment decision-making factors of impact investment, "entrepreneur's (team's) networking ability", "entrepreneur's (team's) social insight", "entrepreneur's (team's) interpersonal influence" was relatively lower than the other four factors. The practical contribution through this research is to help social ventures understand the investment determinant factors of impact investors in the process of financing, and impact investors can be expected to improve the quality of investment decision-making by referring to the judgment cases and analysis of impact investors. The academic contribution is that it empirically investigated the investment priorities and weighting differences of impact investors.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.18 no.6
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• pp.57-70
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• 2023

The investigation delved into 457 pieces of scholarly work, encompassing articles, published theses, and dissertations from the National Research Foundation of Korea, spanning the period of the 1997 IMF financial crisis up to 2022. The materials were sourced using terms such as 'angel investment', 'angel investor', and 'angel investment attraction'. The initial phase involved filtering out redundant entries from the preliminary collection of 267 works, leaving aside pieces that didn't pertain directly to angel investment as indicated in their abstracts. The next stage of the analysis involved a more rigorous selection process. Out of 43 papers earmarked in the preceding cut, only 32 were chosen. The criteria for this focused on the exclusion of conference presentations, articles that were either not submitted or inconclusive, and those that duplicated content under different titles. The final selection of 32 papers underwent a thorough systematic literature review. These documents, all pertinent to angel investment in South Korea, were scrutinized under five distinct categories: 1) publication year, 2) themes of research, 3) strategies employed in the studies, 4) participants involved in the research, and 5) methods of research utilized. This meticulous process illuminated the existing landscape of angel investment studies within Korea. Moreover, this study pinpointed gaps in the current body of research, offering guidance on future scholarly directions and proposing social scientific theories to further enrich the field of angel investment studies and analysis also seeks to pinpoint which areas require additional exploration to energize the field of angel investment moving forward. Through a comprehensive review of literature, this research intends to validate the establishment of future research trajectories and pinpoint areas that are currently and relatively underexplored in Korea's angel investment research stream. This study revealed that current research on domestic angel investment is concentrated on several areas: 1) the traits of angel investors, 2) the motivations behind angel investing, 3) startup ventures, 4) relevant institutions and policies, and 5) the various forms of angel investments. It was determined that there is a need to broaden the scope of research to aid in enhancing and stimulating the scale of domestic angel investing. This includes research into performance analysis of angel investments and detailed case studies in the field. Furthermore, the study emphasizes the importance of diversifying research efforts. Instead of solely focusing on specific factors like investment types, startups, accelerators, venture capital, and regulatory frameworks, there is a call for research that explores a variety of associated variables. These include aspects related to crowdfunding and return on investment in the context of angel investing, ensuring a more holistic approach to research in this domain. Specifically, there's a clear need for more detailed studies focusing on the relationships with variables that serve as dependent variables influencing the outcomes of angel investments. Moreover, it's essential to invigorate both qualitative and quantitative research that delves into the theoretical framework from multiple perspectives. This involves analyzing the structure of variables that have an impact on angel investments and the decisions surrounding these investments, thereby enriching the theoretical foundation of this field. Finally, we presented the direction of development for future research by confirming that the effect on the completeness of the business plan is high or low depending on the satisfaction of the entrepreneurs in addition to the components.

• Journal of Intelligence and Information Systems
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• v.18 no.3
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• pp.153-169
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• 2012

Exhibitions have played a key role of effective marketing activity which directly informs services and products to current and potential customers. Through participating in exhibitions, exhibitors have got the opportunity to make face-to-face contact so that they can secure the market share and improve their corporate images. According to this economic importance of exhibitions, show organizers try to adopt a new IT technology for improving their performance, and researchers have also studied services which can improve the satisfaction of visitors through analyzing visit patterns of visitors. Especially, as smart technologies make them monitor activities of visitors in real-time, they have considered booth recommender systems which infer preference of visitors and recommender proper service to them like on-line environment. However, while there are many studies which can improve their performance in the side of new technological development, they have not considered the choice factor of visitors for booth recommender systems. That is, studies for factors which can influence the development direction and effective diffusion of these systems are insufficient. Most of prior studies for the acceptance of new technologies and the continuous intention of use have adopted Technology Acceptance Model (TAM) and Extended Technology Acceptance Model (ETAM). Booth recommender systems may not be new technology because they are similar with commercial recommender systems such as book recommender systems, in the smart exhibition environment, they can be considered new technology. However, for considering the smart exhibition environment beyond TAM, measurements for the intention of reuse should focus on how booth recommender systems can provide correct information to visitors. In this study, through literature reviews, we draw factors which can influence the satisfaction and reuse intention of visitors for booth recommender systems, and design a model to forecast adaptation of visitors for booth recommendation in the exhibition environment. For these purposes, we conduct a survey for visitors who attended DMC Culture Open in November 2011 and experienced booth recommender systems using own smart phone, and examine hypothesis by regression analysis. As a result, factors which can influence the satisfaction of visitors for booth recommender systems are the effectiveness, perceived ease of use, argument quality, serendipity, and so on. Moreover, the satisfaction for booth recommender systems has a positive relationship with the development of reuse intention. For these results, we have some insights for booth recommender systems in the smart exhibition environment. First, this study gives shape to important factors which are considered when they establish strategies which induce visitors to consistently use booth recommender systems. Recently, although show organizers try to improve their performances using new IT technologies, their visitors have not felt the satisfaction from these efforts. At this point, this study can help them to provide services which can improve the satisfaction of visitors and make them last relationship with visitors. On the other hands, this study suggests that they managers along the using time of booth recommender systems. For example, in the early stage of the adoption, they should focus on the argument quality, perceived ease of use, and serendipity, so that improve the acceptance of booth recommender systems. After these stages, they should bridge the differences between expectation and perception for booth recommender systems, and lead continuous uses of visitors. However, this study has some limitations. We only use four factors which can influence the satisfaction of visitors. Therefore, we should development our model to consider important additional factors. And the exhibition in our experiments has small number of booths so that visitors may not need to booth recommender systems. In the future study, we will conduct experiments in the exhibition environment which has a larger scale.