• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.18 no.6
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• pp.11-26
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• 2023

This study aimed to empirically analyze the effect of Korean companies' FDI(Foreign Direct Investment) on their financial performances, particularly divided into profitability, stability, growth and activity, while comparing distinct financial performances between SMEs(small and medium-sized enterprises) and large enterprises whose corporate attributes are different from each other. As research subjects, this study selected FDI Korean companies from the directory of oversea-expanded companies of KOTRA(Korea Trade-Investment Promotion Agency) and used financial data from a total of 409 companies(136 SMEs and 273 large enterprises) with complete financial data for the first five years after the initial investment out of all the financial data from 1990 to 2021. The analysis results can be summarized as follows; In the profitability sector, FDI had positive effects on ROA(Return on Assets) and ROS(Return on Sales) of SMEs, while having negative effects on those of large enterprises to the contrary. In the stability sector, FDI had no statistical significance for SMEs, while having significantly negative effect on LEV(Debt to Equity Ratio) of large enterprises. In the growth sector, FDI had significantly negative effect on AGR(Asset Growth) of SMEs, but showed no significant results for large enterprises. In the activity sector, FDI showed no statistical significance for SMEs, while having positive effects on ATR(Asset Turnover Ratio) and FATA(Fixed Asset Turnover Ratio) of large enterprises. In conclusion, it was found that when having made FDI, SMEs and large enterprises showed different financial performances from each other in terms of profitability, stability, growth and activity.

• Journal of Korean Home Economics Education Association
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• v.35 no.3
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• pp.169-190
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• 2023

Uzbekistan, one of the top five cotton-producing countries in the world, primarily focuses its textile and fashion industry on raw cotton exports and the sewing industry. For Uzbekistan to achieve high added value, it is essential for the textile and fashion industry, which is currently at the CMT(cut, make, and trim) stage, to upgrade to OEM (original equipment manufacturing), ODM (original design manufacturing), and OBM (original brand manufacturing). South Korea recognizes Uzbekistan as a potential manufacturing base and trading partner and has invested Official Development Assistance (ODA) funds for the development of Uzbekistan's textiles and apparel sector. This study aims to evaluate Uzbekistan's fashion higher education in the context of global competitiveness and measure the need and prospects for education ODA from the Korean government in this field. Comprehensive investigations, including surveys of academics, industry experts, and government officials, in-depth interviews, and focus group interviews, were conducted to understand Uzbekistan's current fashion education environment. According to the research results, despite the textile and fashion sectors playing a pivotal role in the Uzbek economy, there is room for improvement in the curricula and teaching and learning methods of the fashion higher education programs. This study holds significance as foundational data for establishing education ODA strategies.

• Journal of Korea Port Economic Association
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• v.34 no.4
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• pp.141-160
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• 2018

In this paper, to analyze the perception and response strategy of Korean ship owners on Global Sulphur Cap 2020, examined the IMO environmental regulation status focusing on MARPOL Annex VI regulation about air pollution prevention, technological measures to reduce SOx emission, shipping industry and management status of Korean ship owners. First of all, the questionnaire was conducted for Korean ship owners after selecting the evaluation factors. The purpose of this study was to investigate the difference of the perception and response strategy of Korean ship owners by corporation size and main vessel type using frequency and cross analysis. It is confirmed that various researches on SOx emission reduction have been carried out from various points of view at home and abroad. In this study, existing studies related to technical factors for regulatory response and economics analysis were examined and evaluation factors were selected. As a result of analysis, it is found that large-sized shipping companies are more prepared for regulatory response than small and medium-sized bulk carrier owners. There were similar perception and the direction of response strategy about the impacts by corporation size and main vessel type. In about two years to be implemented in 2020, It is necessary to find an appropriate response strategy based on the support policy of the government and related organizations and the systematic analysis of the ship owners. Through this study, although the difference between the perception and response strategy of the ship owners by corporation size and main vessel type was understood, it was found that there were limitations on specific response strategy and corporate data collection. In future research, we should overcome the limitations of this study and conduct an in-depth study.

• Journal of the Korean Society for information Management
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• v.38 no.3
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• pp.23-39
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• 2021

This study aims to explore research trends in Blockchain studies in South Korea using dynamic topic modeling and network analysis. To achieve this goal, we conducted the university & institute collaboration network analysis, the keyword co-occurrence network analysis, and times series topic analysis using dynamic topic modeling. Through the university & institute collaboration network analysis, we found major universities such as Soongsil University, Soonchunhyang University, Korea University, Korea Advanced Institute of Science and Technology (KAIST) and major institutes such as Ministry of National Defense, Korea Railroad Research Institute, Samil PricewaterhouseCoopers, Electronics and Telecommunications Research Institute that led collaborative research. Next, through the analysis of the keyword co-occurrence network, we found major research keywords including virtual assets (Cryptocurrency, Bitcoin, Ethereum, Virtual currency), blockchain technology (Distributed ledger, Distributed ledger technology), finance (Smart contract), and information security (Security, privacy, Personal information). Smart contracts showed the highest scores in all network centrality measures showing its importance in the field. Finally, through the time series topic analysis, we identified five major topics including blockchain technology, blockchain ecosystem, blockchain application 1 (trade, online voting, real estate), blockchain application 2 (food, tourism, distribution, media), and blockchain application 3 (economy, finance). Changes of topics were also investigated by exploring proportions of representative keywords for each topic. The study is the first of its kind to attempt to conduct university & institute collaboration networks analysis and dynamic topic modeling-based times series topic analysis for exploring research trends in Blockchain studies in South Korea. Our results can be used by government agencies, universities, and research institutes to develop effective strategies of promoting university & institutes collaboration and interdisciplinary research in the field.

• Journal of Korea Port Economic Association
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• v.38 no.1
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• pp.101-111
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• 2022

As Asia's leading advanced country, Korea has an absolute advantage over foreign trade routes and maritime economies over inland countries. Following the change in social background, the original port area is for various reasons, and some ills are gradually revealing people's private interests. Due to this, it is the economic interest and future development space of the marine industry cluster in the port area that are directly affected and damaged. This study studied the relationship between marine industry clusters and port urban regeneration. It is intended to present the necessity and importance of activating the marine industry cluster through port urban regeneration while analyzing the regenerative design from the quantitative analysis angle. Therefore, first of all, the theoretical backgrounds were considered, and the cases of port cities that did well worldwide were analyzed according to the current status of the northern port of Busan, the research target site, through analysis. In addition, in order to increase the reliability of this study, the data of marine industry clusters and port city regeneration were reviewed using empirical analysis. Looking at the results of this study's case study and empirical analysis, it is a relationship that actually improved and interacted between the marine industry cluster and the port city regeneration. Through the study, it is expected that the Busan North Port Redevelopment Project will be promoted at the design, environmental, and economic level, and at the same time, it will be able to enhance its status as a marine city in Busan. The results show that, no matter which country or port city, the development of economy, society, culture and will inevitably promote the vigorous development of the marine industrial cluster, also, the port area development to a certain degree. will naturally the physical conditions of regional development obstacle through the port city of regeneration. This promotion will overcome.

• Journal of Intelligence and Information Systems
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• v.28 no.1
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• pp.69-88
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• 2022

One of the characteristics of South Korea's economic structure is that it is highly dependent on exports. Thus, many businesses are closely related to the global economy and diplomatic situation. In addition, small and medium-sized enterprises(SMEs) specialized in exporting are struggling due to the spread of COVID-19. Therefore, this study aimed to develop a model to forecast exports for next year to support SMEs' export strategy and decision making. Also, this study proposed a strategy to recommend promising export countries of each item based on the forecasting model. We analyzed important variables used in previous studies such as country-specific, item-specific, and macro-economic variables and collected those variables to train our prediction model. Next, through the exploratory data analysis(EDA) it was found that exports, which is a target variable, have a highly skewed distribution. To deal with this issue and improve predictive performance, we suggest a separated learning method. In a separated learning method, the whole dataset is divided into homogeneous subgroups and a prediction algorithm is applied to each group. Thus, characteristics of each group can be more precisely trained using different input variables and algorithms. In this study, we divided the dataset into five subgroups based on the exports to decrease skewness of the target variable. After the separation, we found that each group has different characteristics in countries and goods. For example, In Group 1, most of the exporting countries are developing countries and the majority of exporting goods are low value products such as glass and prints. On the other hand, major exporting countries of South Korea such as China, USA, and Vietnam are included in Group 4 and Group 5 and most exporting goods in these groups are high value products. Then we used LightGBM(LGBM) and Exponential Moving Average(EMA) for prediction. Considering the characteristics of each group, models were built using LGBM for Group 1 to 4 and EMA for Group 5. To evaluate the performance of the model, we compare different model structures and algorithms. As a result, it was found that the separated learning model had best performance compared to other models. After the model was built, we also provided variable importance of each group using SHAP-value to add explainability of our model. Based on the prediction model, we proposed a second-stage recommendation strategy for potential export countries. In the first phase, BCG matrix was used to find Star and Question Mark markets that are expected to grow rapidly. In the second phase, we calculated scores for each country and recommendations were made according to ranking. Using this recommendation framework, potential export countries were selected and information about those countries for each item was presented. There are several implications of this study. First of all, most of the preceding studies have conducted research on the specific situation or country. However, this study use various variables and develops a machine learning model for a wide range of countries and items. Second, as to our knowledge, it is the first attempt to adopt a separated learning method for exports prediction. By separating the dataset into 5 homogeneous subgroups, we could enhance the predictive performance of the model. Also, more detailed explanation of models by group is provided using SHAP values. Lastly, this study has several practical implications. There are some platforms which serve trade information including KOTRA, but most of them are based on past data. Therefore, it is not easy for companies to predict future trends. By utilizing the model and recommendation strategy in this research, trade related services in each platform can be improved so that companies including SMEs can fully utilize the service when making strategies and decisions for exports.

• Journal of Korea Port Economic Association
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• v.34 no.3
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• pp.17-52
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• 2018

The purpose of this paper is to measure the clustering change and analyze empirical results. Additionally, by using k-means, hierarchical, and mixed models on Asian container ports over the period 2006-2015, the study aims to form a cluster comprising Busan, Incheon, and Gwangyang ports. The models consider the number of cranes, depth, birth length, and total area as inputs and container twenty-foot equivalent units(TEU) as output. Following are the main empirical results. First, ranking order according to the increasing ratio during the 10 years analysis shows that the value for average linkage(AL), mixed ward, rule of thumb(RT)& elbow, ward, and mixed AL are 42.04% up, 35.01% up, 30.47%up, and 23.65% up, respectively. Second, according to the RT and elbow models, the three Korean ports can be clustered with Asian ports in the following manner: Busan Port(Hong Kong, Guangzhou, Qingdao, and Singapore), Incheon Port(Tokyo, Nagoya, Osaka, Manila, and Bangkok), and Gwangyang Port(Gungzhou, Ningbo, Qingdao, and Kasiung). Third, optimal clustering numbers are as follows: AL(6), Mixed Ward(5), RT&elbow(4), Ward(5), and Mixed AL(6). Fourth, empirical clustering results match with those of questionnaire-Busan Port(80%), Incheon Port(17%), and Gwangyang Port(50%). The policy implication is that related parties of Korean seaports should introduce port improvement plans like the benchmarking of clustered seaports.

• Journal of Korea Port Economic Association
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• v.37 no.1
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• pp.31-70
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• 2021

The purpose of this paper is to measure the clustering change and analyze empirical results, and choose the clustering ports for Busan, Incheon, and Gwangyang ports by using Hierarchical clustering(single, complete, average, and centroid), Silhouette, and 2SCE[the Second Stage(Type II) cross-efficiency] matrix clustering models on Asian container ports over the period 2009-2018. The models have chosen number of cranes, depth, birth length, and total area as inputs and container TEU as output. The main empirical results are as follows. First, ranking order according to the efficiency increasing ratio during the 10 years analysis shows Silhouette(0.4052 up), Hierarchical clustering(0.3097 up), and 2SCE(0.1057 up). Second, according to empirical verification of the Silhouette and 2SCE models, 3 Korean ports should be clustered with ports like Busan Port[ Dubai, Hong Kong, and Tanjung Priok], and Incheon Port and Gwangyang Port are required to cluster with most ports. Third, in terms of the ASEAN, it would be good to cluster like Busan (Singapore), Incheon Port (Tanjung Priok, Tanjung Perak, Manila, Tanjung Pelpas, Leam Chanbang, and Bangkok), and Gwangyang Port(Tanjung Priok, Tanjung Perak, Port Kang, Tanjung Pelpas, Leam Chanbang, and Bangkok). Third, Wilcoxon's signed-ranks test of models shows that all P values are significant at an average level of 0.852. It means that the average efficiency figures and ranking orders of the models are matched each other. The policy implication is that port policy makers and port operation managers should select benchmarking ports by introducing the models used in this study into the clustering of ports, compare and analyze the port development and operation plans of their ports, and introduce and implement the parts which required benchmarking quickly.

• The Korean Journal of Air & Space Law and Policy
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• v.34 no.1
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• pp.3-38
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• 2019

In 1984, Congress enacted a new measure of administrative sanctions which is a civil money penalty program for violations of Aviation Act and its implementing regulations. This civil money penalty system has been in operations in lieu of suspending or revoking certificates issued by Korean government, Ministry of Land, Infrastructure, and Transport. According to the rules of Aviation Business Act or Aviation Safety Act, where the Minister of Land, Infrastructure and Transport should order an air carrier to suspend operation because of her violation under certain rules, in which case the suspension of operation is likely to cause serious inconvenience to consumers of air transport services or to harm public interest, the Minister of the department may impose an administrative monetary penalty in lieu of the suspension of operation. In this regard, airline related civil money penalties are somewhat different from those of fair trade, which is the origin of the money penalties system in Korea. Civil money penalties in the field of fair trade are imposed on executive duty violations that undermine the value of the market economy order, and focus on reimbursement of profits due to violations and compensation for unfair spending by consumers. However, in the aviation sector, breach of duty by a business operator does not simply cause the property loss of the public, but it has a direct impact on life or property of the public. In this respect, aviation penalties are more likely to be administrative sanctions or punitive measures than refunds of unfair benefits, compared to penalties in the field of fair trade. In general, civil money penalties have been highly preferred as administrative sanctions because they are subject to investigations by administrative experts and thus, efficiency can be ensured and execution is quicker than judicial procedures. Moreover, in Korea, because punitive civil damages cannot awarded by the courts, the imposition of civil money penalties is recognized as a means of realizing social justice by recognizing the legal feelings of the people. However, civil money penalties are administrative sanctions, and in terms of effectiveness, they are similar to criminal fines, which are a form of punishment. Inadequate legislation and operation of penalties imposition may cause damage to the value of Constitution. Under the above recognition, this paper has been described for the purpose of identifying the present status of the civil money penalties imposition system and operating status in the area of air transport under the laws and regulations in Korea. Especially, this paper was focused on exploring the problem and improvement direction of Korean system through the comparative study with foreign laws and regulations.

• Korea Trade Review
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• v.42 no.5
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• pp.71-91
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• 2017

This purpose of this study is to examine how emotional intelligence has a moderating effect on the relationship between emotional labor and job burnout. To test the hypotheses, moderation analysis, mediation analysis and moderated mediation analysis were performed. Of the 1,500 self-report questionnaires distributed to franchise employees, 1,412 usable responses and utilized in the final analyses. The resoults show that emotional labor significantly affected job burnout, and job burnout completely mediated the effect of emotional labor on turnover intention. And emotional intelligence moderated the relationship between emotional labor and job burnout, suggesting that the emotional dissonance-job burnout relationship was stronger in the low emotional intelligence group than in the high emotional intelligence group. The results of this study provide some implications for Korean companies entering the Chinese franchise field. First, the mediating effects of "emotional labor → job burnout → turnover intention" and the effect of emotional labor on job burnout were mitigated by self-efficacy in Chinese franchise workers. And the self-efficacy of the employees was an important factor. The implication of this study is that self-efficacy, which is a controlling variable affecting emotional labor, job burnout, and turnover intention, is important, so Korean companies that enter the Chinese franchise employ employees with high self-efficacy and to develop and implement an employee education program that can enhance self-efficacy.