• Journal of Korea Port Economic Association
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• v.27 no.3
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• pp.1-12
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• 2011

The effect of real exchange rate changes on trade balance is called the J-curve effect. That is, after real depreciation, the trade balance will deteriorate in the short run and improve in the long run. Specially, import and export prices respond with little or no decline in volume. Assuming a zero initial trade balance and dominance of the exporter currency in invoicing trade contracts, the trade balance continues to deteriorate in the medium term. Over time, the relative price-induced volume effect comes to dominate the price effect and the trade balance improves. This pattern of the trade balance adjustment is commonly referred to as the J-curve effect. This study examines the effects of changes in the exchange rate on the Korean port trade balance to China. The empirical results indicate that whilst there is J-curve effect in the short-run, but in the long-run, the real depreciation of the Korean won has positive impact on port trade balance to China.

• Proceedings of the Korea Water Resources Association Conference
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• 2017.05a
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• pp.426-426
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• 2017

국가간 지역간 물의 이동을 개념화하여 물 부족 현상을 정치경제학적 관점에서 접근하려는 가상수(virtual water) 연구가 국제적으로 진행되고 있다. 가상수를 양적 측면에서 산정하여 정확한 물 수지를 파악하면 수자원에 대한 국가의 계획과 전략 수립에 매우 유리한 여건이 조성된다. 우리나라의 국가계획인 수자원장기종합계획은 국가 간의 물 이동을 고려하지 않고 국내에서 발생하는 용수의 수요와 공급 측면만을 산정하고 있다. 그러나 현재에도 국내에서 소비하는 농산물과 축산물의 상당량은 수입에 의존하고 있으며, 향후 국제교역과 FTA의 확대 등으로 그 의존도는 더욱 증대될 것으로 추산된다. 따라서 국가 간 물 이동에 대한 양적 규모를 파악하여 국가전략을 수립하는 기초자료로 활용하기 위한 연구가 필요하다. 이에 본 연구에서는 산업연관분석법을 활용하여 국내 산업별(제조업, 서비스업) 가상수를 산정하여 국가 수자원계획 수립에 필요한 기초자료로서 제공하고자 한다. 산업연관분석(Inter-industry analysis)은 산업연관표를 바탕으로 산업 간의 상호 연관관계를 수량적으로 파악하는 방법이다. 이를 가상수 산정에 활용하여 직접수와 간접수를 포함한 물의 전체 사용량을 산정할 수 있다. 본 연구에서는 각 산업의 용수량을 총 생산량으로 나누어 물 강도($m^3$/원)를 계산하고, 생산유발계수와 최종수요를 곱하는 방식으로 산업별 가상수량을 산정하였다. 산업별 가상수 산정 결과는 경제총조사의 용수비와 산업연관표의 생산유발계수를 적용하였으며, 제2차 산업인 제조업 분야의 연간 가상수량은 60.4억 $m^3$, 제3차 산업인 서비스 분야의 가상수량은 연간 43.1억 $m^3$으로 분석하였다. 또한 향후 10년의 OECD 기술수준 제품군별 무역수지 전망을 고려한 결과, 기술수준 중 및 고 기술제품의 가상수 수출량이 2020년에는 2010년에 비해 약 3배 증가하는 것으로 산정하였다. 이와 같은 방법으로 산정된 산업별 가상수는 각 산업의 물 사용량을 추정하고 산업 전반의 수자원 활용도를 파악하는데 이용 가능하다. 더불어 국제 환경 및 기후변화가 반영된 가상수 시나리오 연구를 통해 장래 용수 수요변화예측 등 효과적인 물 관리 정책 수립에 기여할 수 있다.

• Journal of Digital Convergence
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• v.9 no.6
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• pp.137-151
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• 2011

This dissertation aims to empirically analyze the effect of cultivation of software industry on the local economy through Inter-regional Software Input-Output Analysis. The temporal range of analysis of effect of software industry on the local economy shall be for the year 2005 since analysis is made on the basis of the Regional Industrial Input-Output Table published by the Bank of Korea in 2005, and spatial domain shall be limited to the 16 metropolitan cities and provinces, which are the standards for each administrative zone. Results of analysis of this dissertation are as follows. Firstly, average inverse matrix coefficient of software industry for each region was computed to be 1.6248, which is lower than the average inverse matrix coefficient of 1.7979 for the entire industries. Secondly, among these, inverse matrix coefficient of software industry for each region on other industry within the same region was 0.1794, which is higher than that of entire industries at 0.1382. However, average inverse matrix coefficients of software industry for each region on self-industry within the same region and entire industries in other regions were found to be 1.0119 and 0.4335, respectively, which is lower than those of entire industries at 1.0982 and 0.5616, respectively. Thirdly, domestic produces induced by final demand items of software industry for each region was the highest for Seoul with 17.3309 trillion Korean won, accounting for 81.0% of the total, followed by Gyeonggi with 2.3370 trillion Korean won, 10.9% of the total. Fourthly, distribution ratios of domestic produces induced by final demand items of software industry for each region were found to be 19.1%, 72.1% and 8.8% with respect to the weight of consumption, investment and export, respectively, thereby illustrating very high level of distribution ratios of domestic produces being induced by investment in comparison to the distribution ratios of domestic produces being induced for the entire industries at 47.3%, 19.8% and 32.9%, respectively.

• Economic Analysis
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• v.27 no.3
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• pp.61-96
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• 2021

This study is to structurally examine the regional income disparity in Korea. It measures the regional income inducement by household consumption expenditure per unit income, and the regional interdependency of income using 2005 and 2015 Regional Input-Output Tables of 16 provincial regions of Korea. The results are as follows. Firstly, the income inducement by consumption expenditure per unit income decreased overall, mainly due to the decrease in the income inducement of other regions than due to that of their region. Secondly, in many regions, the inter-relational income dependency per unit income decreased also, this too, mainly due to the decrease in the income transfer to other region. And, the income inducement effects of consumption expenditure per unit income of Seoul and Gyeonggi, which occupy a large portion of the Korean economy, were lower than that of other regions, but took the largest portion of income inducements generated by other regions as well as by themselves and absorbed the income transfers from other regions the most. The higher income inducement and income absorption in Seoul and Gyeonggi by consumption expenditure of other regions were mainly because of the high share in service of their consumption structure, the progress in tertiarization of their industrial structure, and the high wage portion. These results also mean that viewed from the regional interdependency of income, the income of Seoul and that of Gyeonggi are highly dependent on the income of other regions. Especially, Gyeonggi which leads the overseas exports of high-tech based manufactured products, has other external factors that contribute to their high income inducement, whereas, Seoul which shows high income absorption using its inter-relations with other domestic regions based on the services, has an income-generating structure that is sensitive to other regions' economic situation. Amid overall declines in regional income inducements and in income transfers, and continuing concentrations into Seoul and Gyeonggi regions, to alleviate the regional disparity, the regional industry policies should, rather than benchmarking the policies of the two concentrated regions, enhance their own inter-regional relationships by strengthening the comparative advantage of their regionally specialized industry.

• Journal of the Korean Wood Science and Technology
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• v.14 no.2
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• pp.43-49
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• 1986

In the light of real situation of Korean timber resources, it is no wonder that Korean economy depends on a lot of imported timber, however, we only need to draw attention how have they kept the balance of payment in the field of forest products trade for the last few decades, until the second oil crisis in 1979. Afterwards, the gap between imports and exports of forest products in terms of value has been widened so far, on account of various reasons inside and outside. However, according to national economic policy to drive more active exportation, new policy and strategy to expend world market of forest products urgently expectable in order to shorten the gap between imports and exports of forest products in the future. On the other hand, the current timber importation policy should be reconsidered, not only to support optimum domestic timber price level so as to compensate timber producers' cost but also to make suitable economic environment to induce new investments in the field of private forestry sector.

• The Journal of Small Business Innovation
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• v.19 no.3
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• pp.1-16
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• 2016

Korean government had used public 'credit guarantee schemes' (CGS) as a counter-cyclical measure. However, it is still controversial about the effectiveness of policy financing on the SMEs. Criticism on policy financing involves the argument that supporting enterprises hampers competition and innovation of SMEs by increasing their dependence on the government and delays the exit of marginal firms. In this paper, we investigate how to effectively build up the rationale of running public CGSs. At the same time, we propose the ways to coexist of public credit guarantee and market-based private finance system for SMEs. First, CGS, as a counter-cyclical function, must coexist with the private financial system by compensating the market failure caused by pro-cyclical behavior of the private financial market. Second, CGS has the comparative advantages, compared to both the interest rate policy of the central bank and fiscal policy of the government. The credit guarantee is the symptomatic treatment that could revitalize the economy shortly by providing liquidity. Also, knowing that CGS is provided based on the leverage ratio defined by outstanding guarantee divided by capital fund, public 'credit guarantee' (CG) has an advantage that is free from the risk of government deficit. Third, the reason for existence of the CGS should be founded in supporting services for SMEs, available only in a public sector that is difficult to expect from private banks. In this regard, it is desirable to strengthen the publicness of credit guarantee over the support for start-ups, growing companies, the improvement of productivity, increase of exports, a long-term investment in facilities, the employment-creating businesses, and innovative enterprises.

• Journal of Dairy Science and Biotechnology
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• v.30 no.2
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• pp.111-117
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• 2012

A number of recently developed cheese analogues that are available in dairy food markets are currently being produced for improving health or diet, and they include Mozzarella, Cheddar, American, Muenster, and other custom flavors. Cheese analogues have many benefits such as extended-and-improved shelf life, price stability, and functional qualities that include better texture, higher melting point, and better stretching properties. Various cheese analogues can now be made by using soybeans or soy protein products, gelatin, gum arabic, and other ingredients. Hence, in this study, on the basis of previously published studies, we recommend soy protein for cheese analogues, for improving the texture and flavor of cheese analogues. Moreover, the best conditions for making cheese analogues and the factors that affect the characterization of cheese analogues have been described in this paper.

• Journal of Korea Port Economic Association
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• v.34 no.2
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• pp.17-30
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• 2018

The regional industry promotion system, which seeks to link the characteristics and resources of the region to its core strategic industry, is spreading the industrial resources in the form of an organic network. The Seosan-Daesan Port is the only port in the Chungcheong provinces that is equipped with international passenger dock and terminal, and it will soon have a ferry service operating to the Longyan port in Rongcheng, China in 2018. The study focuses on effects of the first international ferry operation in the provinces that are being realized with the aim of developing the regional industry. The study also analyzes the ripple effects on the tourism and port industries in the provinces by tapping into the 2013 regional inter-industry table. The analysis shows that the scheduled ferry operation will generate 47,815 million won in production and 23,423 million won in added value for the region's tourism industry. It will also generate total revenue of 12,567 million won for the port industry driven by the locally handled freight containers and the added value. Currently, the Korea-China ferry operation in other regions exhibits greater dependence on the cargo than the passengers. Thus, for the international ferry operation to and from Seosan, generating maximum employment in tourism from the passengers of the international ferry operation will require strategic marketing to attract tourists. At the same time, a steady supply of cargo needs to be sustained by maintaining a balance between import and export cargoes. Furthermore, greater efforts should be made to create more sea routes than other regions or to increase voyages for the purpose of generating more added value.

• Journal of the Economic Geographical Society of Korea
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• v.12 no.4
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• pp.421-437
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• 2009

China has transformed her strategies for economic development from exogenous development founded on foreign capitals to endogenous development based on enhancing technology innovation capabilities since 2000. More specifically, Chinese business activities have coupled with new institutional settings which enable them to facilitate advanced technology and management methods. As a result, the characteristics of the spatial economy in China are likely to transfer from export-led developmental space to technology-oriented developmental space. In this context, this paper aims to identify the characteristics of technology-oriented space by investigating intra-, inter- and extra-firms relations of Korean FDI firms in Shanghai, China. In terms of intra-firm relations, Korean FDI firms adopted strategies for maximizing business efficiency and effectiveness by transforming their personal networks into formal networks. In terms of inter-firm relations, the distinction of Korean FDI firms' networks has been found in accordance with firm size, industrial sectors, ways of investment etc. Finally, Korean FDI firms has formal networks resulted from institutional involvement, as well as informal (personal) networks based on guanxi (inter-personal relations) in extra-firm relations. Therefore, two types of processes affecting the networks and institutional legacies of the Soviet system can be identified. First is the interaction of institutions and restructuring of pre-existing networks. Second is the insulated institutions and endurance of preexisting networks. And these two governance types have created regional economies which are embedded and over-embedded.

• The Journal of the Convergence on Culture Technology
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• v.7 no.4
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• pp.833-844
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• 2021

In the era of Corona, companion animals provide a lot of comfort to people, and the Pet Pam group, who thinks of companion animals as family members, has appeared. There is also the Pet Pour phenomenon, in which young consumers spend less on their pets and spend on their companion animals. Despite these changes in the times, pet products, including pet food, are still highly dependent on imports. In addition, since domestic standards for cosmetics and supplies for companion animals have not been established, they rely only on cosmetic safety standards and regulations. In addition, the terminology for domestic pet cosmetics has not been established yet. Currently, only the Animal Protection Act related to companion animals has been amended in the domestic law, but in the case of Japan, the Companion Animal Feed Safety Act came into effect in June 2009. In the United States, the federal Food, Drug, and Cosmetic Control Act covers pet cosmetics and supplies. Germany, which has strong animal protection laws, has various national regulations on food and feed, and detailed national regulations are also provided on the website of the Food Safety Administration. National policies and environments should be established to manage and develop the companion animal industry in Korea as in such a country, and it is considered essential for the development of companion animal cosmetics and various companion animal industries.