• Journal of Korea Port Economic Association
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• v.23 no.4
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• pp.159-175
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• 2007

The purpose of this study is to examine the causal relationship between trading volume of freight and industrial growth in Korea ports, and to induce policy implications. In order to test whether time series data is stationary and the model is fitness or not, we put in operation unit root test, cointegration test. And we apply Granger causality based on an error correction model, Hsiao(1981) method and variance decomposition. The results indicate that the extent of causality between trading volume of freight and industrial growth is strong in order of Incheon port, Busan port, Gwang Yang port, Ulsan port. We can infer policy suggestions as follows; The port policy of government must be focused on re-adjusting investment among Korea ports and raising competitive power of Korea ports

• KDI Journal of Economic Policy
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• v.14 no.2
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• pp.77-108
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• 1992

Many economists and policymakers regard the ratio of R&D investment to GNP to be a good indicator of a nation's technological capabilities. Consequently, their major policy recommendation to promote technological development is a rapid expansion in R&D investment. However, a low R&D ratio does not necessarily mean less efforts at technological advancement since the composition of technologies to be developed varies depending upon the stage of economic development. Technology policy to improve the international competitiveness of domestic industries should be based on the stage of economic development and present technological status rather than on a simple comparison with advanced countries. At Korea's stage of development, maximizing the efficiency of R&D investment is more important than enlarging the size of the investment. Strategic alliances between domestic firms and foreign enterprises should be encouraged to save time and costs involved in acquiring new technologies and learning how to use them. The government should establish institutional devices to stimulate private enterprises to internationalize their business activities such as R&D, production, and marketing. The government should also promote the development of domestic and international R&D networks, which can serve as the infrastructure for technological innovations.

• Journal of Korea Society of Industrial Information Systems
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• v.29 no.1
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• pp.31-48
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• 2024

The domestic automotive industry must consider a strategic shift from traditional automotive component manufacturing to align with future trends such as connectivity, autonomous driving, sharing, and electrification. This research conducted topic modeling on R&D projects in the future automotive sector funded by the Ministry of Trade, Industry, and Energy from 2013 to 2021. We found that topics such as sensors, communication, driver assistance technology, and battery and power technology remained consistently prominent throughout the entire period. Conversely, topics like high-strength lightweight chassis were observed only in the first period, while topics like AI, big data, and hydrogen fuel cells gained increasing importance in the second and third periods. Furthermore, this research analyzed the areas of concentrated investment for each period based on topic-specific government investment amounts and investment growth rates.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.16 no.3
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• pp.43-58
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• 2021

This study analyzes the entrepreneurship policies of the previous Korean administrations from the perspective of the Policy Paradigm by Hall(1993). A total of 195 newspaper articles and 202 government documents were examined to identify policy paradigm shifts through an analysis of policy objectives, policy instruments, and changing quality of policy instruments by each administration. The first paradigm was built during the 5th and 6th Republic, where 'Support for Small and Medium Enterprise Establishment Act' was enacted in 1986 to promote and support start-ups in the manufacturing sector. Next is the so-called 'people's government' period where 'Act on Special Measures for the Promotion of Venture Businesses' was enacted to tackle the challenges posed during the 1997 Asian financial crisis. A new policy goal was set to promote and nurture venture companies seeking subsequent means to achieve it. The third paradigm shift took place during President Moon's administration in order to effectively respond to the issues stemming from the fourth industrial revolution and the COVID-19 pandemic. Through the overall revision of the 'Support for Small and Medium Enterprise Establishment Act', the scope of startups were expanded, new industries and technology startups were supported and promoted, and venture investment-related laws were streamlined. In addition, the Small and Medium Business Administration was promoted as the Ministry of SMEs and Startups, enabling them to take initiative in implementing startup policies. Particularly, this study focuses on examining the low survival rate of startup companies and the revitalization of private investment as rising policy issues for recent startups, and suggests the improvement direction due to startup policy paradigm shift.

• Proceedings of the Korea Water Resources Association Conference
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• 2020.06a
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• pp.7-8
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• 2020

지속가능한 국가 발전을 위한 물관리 정책은 항상 국정 과제의 중심에 있다. 물관리는 수재해예방, 양질의 안정된 물이용, 충분한 식량생산, 수생태계와 물환경의 보호, 효과적 재정투자 등과 같이 다양한 분야에 계층적이면서도 상호연계성 있는 전문성을 요구한다. 동시에 물관리의 효과와 편익은 경제활동의 기반이 되고 환경보전의 원천이므로 정책의 수요는 정부뿐만 아니라 국민과 더불어 자연으로부터 기인한다. 특히 기후변화의 불확실성 또는 감염병 대발생과 국가적 위기에도 지속가능한 국가 발전을 이행하기 위해서는 시의성 있고 유효한 물관리 정책은 필수이다. 그동안 우리나라 물관리 정책의 세분화 또는 파편화는 물관리 전문성 강화의 효과보다는 비효율성의 결과를 더 크게 생산해 왔었다. 특히 부족한 협력과 조정은 과잉·중복 투자, 비일관적 정책, 비효율적 성과라는 왜곡된 통합물관리 정책 순환이 반복되게 하였다. 최근 정부는 국토교통부의 하천수량(홍수 포함) 및 광역상수도 관리 기능을 환경부로 이관하는 물관리일원화를 추진하여 통합물관리의 발판을 마련하는 계기를 달성하였다. 하지만 비록 정부조직법 개정과 물관리기본법 제정으로 통합물관리 정책의 틀은 마련되었으나, 국토교통부가 하천법 상의 일부 사무를 담당하므로서 하천관리 정책의 복잡성과 다원화는 높아졌다. 따라서 하천의 이용 및 관리에 관한 만족도, 관리주체, 미래상, 물관리일원화 후 정책수요, 기후변화에 관한 인식, 하천관리 참여 의향 등을 조사하는 연구는 시급한 실정이며 향후 하천기본계획, 생태하천복원사업, 소하천정비사업 등과 같은 재정사업의 추진 방향에도 매우 중요한 주제라고 할 수 있다. 본 연구에서는 현재와 미래 하천의 이용 및 관리, 그리고 정책방향에 대하여 일반 시민(4,500명)과 전문가(168명) 대상의 설문조사를 실시하였으며 인식의 공통점과 차이를 비교분석하였다. 설문조사의 내용은 3가지 부문(하천이용, 하천관리, 하천정책)으로 구분하여 각 부문별로 세부문항으로 구성하였다. 일반 시민과 전문가 간의 인식조사 비교 결과, 공통적으로 시민과 전문가는 하천의 바람직한 미래상으로 '깨끗한 수질의 하천'을 가장 높게 선호하였다. 하천관리 우선순위를 묻는 질문에 대한 시민과 전문가의 응답도 대하천, 도랑이나 개울, 중하천, 소하천 순으로 동일하였지만, 1순위와 2순위의 격차는 시민(26.1%)보다 전문가(1.2%)가 낮았다. 또한 시민과 전문가는 하천관리의 주체로 '물전문기관'을 가장 높게 선호하였지만, 전문가는 '물전문기관' 다음으로 중앙부처(20.2%)를 선호하였지만, 시민은 중앙부처(6.8%)를 가장 선호하지 않는 하천관리 주체로 응답하여 두 집단 간의 큰 인식의 차이를 알 수 있었다. 물관리일원화 후 보다 큰 관심을 가져야할 정책으로는 '건강하고 깨끗한 수질'을 시민(38.9%)과 전문가(47.0%)는 1순위로 선택하였으나, 2순위는 시민은 '생태서식공간'(11.6%)을 전문가는 '안정적 수량확보'(20.2%)를 선택하여 두 집단의 인식 차이가 있음을 알 수 있었다.

• Journal of Navigation and Port Research
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• v.48 no.1
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• pp.17-26
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• 2024

Port distripark can activate more functions. It is adjacent to a port. However, domestic port distripark is still limited to support port because of the shortage of infrastructure facilities, government policy, and investment. Therefore, this study tried to investigate the operation status of domestic port distripark and derive policy implications by conducting DEA analysis and productivity analysis based on internal data of each port distripark. As a result of Data Envelopment analysis, it was found that the west port distripark of Gwangwang and the northern port distripark of Incheon were efficient in the warehouse industry while the northern port distripark of Incheon and the Ulsan 1 port distripark were efficient in the manufacturing industry. In addition, in the case of foreign investment productivity, the west side port distripark of Gwangyang and the stage 1 port distripark of Pyeongtaek Dangjin were found to be higher than the others. In the case of facility investment productivity, the port distripark on the west side of Gwangyang and the north side of Incheon had the highest productivity. Lastly, in the case of labor productivity, the north side of Incheon and Busan ungdong port distripark showed the highest productivity. These results imply that it is important to review handling item when picking up enterprises in the port distripark for enhancing efficiency, foreign investment, and facility investment. The number of employees is not directly affecting the productivity improvement.

• Journal of Arbitration Studies
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• v.24 no.2
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• pp.33-52
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• 2014

Although climate change is a global scale question, some concerns have been raised that principles of investment arbitration may not adequately address the domestic implementation of climate change measures. A recent ICSID investment arbitration of Vattenfall v. Germany with regard to the investor's alleged damages from the phase-out of nuclear plants is a salient climate change case. The 2005 Kyoto Protocol was made to reduce greenhouse gas emissions and it provides a number of flexible mechanisms such as Joint Implementation (JI) and Clean Development Mechanism (CDM). Implementation of the Kyoto Protocol allows dispute settlement through investor-state arbitration. Any initiation of stricter emission standards can violate the prohibition on expropriations in investment agreements, regardless of the measures created to reduce greenhouse gas emissions. The effect-based expropriation doctrine can charge changes to existing emission standards as interference with the use of property that goes against the legitimate expectation of a foreign investor. In regulatory chill, threat of investor claims against the host state may preclude the strengthening of climate change measures. Stabilization clauses also have a freezing effect on the hosting state's regulation and a new law applicable to the investment. In the fair and equitable standard, basic expectations of investors when entering into earlier carbon-intensive operations can be affected by a regulation seeking to change into a low-carbon approach. As seen in the Methanex tribunal, a non-discriminatory and public purpose of environmental protection measures should be considered as non-expropriation in the arbitral tribunal unless its decision would intentionally impede a foreign investor's investment.

• KDI Journal of Economic Policy
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• v.14 no.1
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• pp.191-212
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• 1992

This paper discusses the role of money in the process of capital accumulation where financial markets are impeded by contract enforcement problems in the context of overlapping generations framework. In particular, in less developed countries (LDCs) creditors may know little about the repayment capability of potential debtors due to incomplete information so that financial instruments other than money may not acceptable to them. In this paper the impediments to the operation of the private finanical markets are explicitly modelled. We argue that creditors cannot observe actual investment decisions made by the potential borrowers, and as a result, loan contracts may not be fully enforceable. Therefore, a laissez-faire regime may fail to provide the economy with the appropriate financial instruments. Under these circumstances, we introduce a government operated discount window (DW) that acts as an open market buyer of private debt. This theoretical structure represents the practice of governments of many LDCs to provide loans (typically at subsidized interest rates) to preferred borrowers either directly or indirectly through the commercial banking system. It is shown that the DW can substantially overcome impediments to trade which are caused by the credit market failure. An appropriate supply of the DW loan enables producers to purchase the resources they cannot obtain through direct transactions in the credit market. This result obtains even if the DW is subject to the same enforcement constraint that is responsible for the market failure. Thus, the DW intervention implies higher investment and output. However, the operation of the DW may cause inflation. Furthermore, the provision of cheap loans through the DW results in a worse income distribution. Therefore, there is room for welfare enhancing schemes that utilize the higher output to develop. We demonstrate that adequate lump sum taxes-cum-transfers along with the operation of the DW can support an allocation that is Pareto superior to the laissez-faire equilibrium allocation.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.10 no.6
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• pp.47-57
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• 2015

This study examines whether successful stand-alone firms have more difficulties than the successful firms affiliated to business groups in external financing. The easiness of external financing is measured by investment-cashflow multiple. Controlling the effects on the multiple of the past business performances and the expectation of future business performances, we investigate how the ownership type affects the multiple. The empirical results show that, when cashflows are positive, the stand-alone firms exhibit higher investment-cashflow mupltiples. When cashflows are negative, however, the opposite is true, even though the statistical significance of the result is rather low. These results do not support the general idea that stand-alone firms must have more disadvantage than subsidiary firms in raising funds from outside. If member firms of business groups have no big trouble financing externally, then the above results imply that stand-alone firms do not either identify external financing as a major difficulty in running business. Thus, if the government seeks to formulate the selective policies supporting only the promising start-ups, instead of the general policies benefiting random start-ups, then the start-up financing policy should have a lower priority.

• Journal of Technology Innovation
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• v.18 no.1
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• pp.75-98
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• 2010

The purpose of this paper is to give policy implications for relevant policy-makers by analyzing factors affecting performance of industrial R&D programs of the Ministry of Knowledge Economy. The independent variables are type of project leader organization(Big Enterprises, SMEs, Ventures Businesses, Public Research Institutions, Universities), cooperative or noncooperative R&D among industry-university-research institution, total number of project participant organization, total R&D investment, and the ratio of private investment to total R&D investment. The dependent variables are domestic or foreign patents granted and domestic or foreign papers accepted. The method of analysis is Poisson Regression analysis operated by STATA. The results of this research are follows ; Universities show higher R&D performance compared to enterprises or public research institutions in terms of patents and papers as well. Venture businesses show higher patent performance compared to SMEs. Inverted U-shaped relationship between total number of project participant organization and R&D performance is not supported. The higher total R&D investment, the higher R&D performance. The higher the ratio of private investment to total R&D investment, the higher R&D performance.