• The Journal of the Convergence on Culture Technology
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• v.9 no.3
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• pp.167-181
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• 2023

This study utilized TEXTOM, a social network analysis program to analyze changes in current tourism behavior after travel restrictions were eased after the outbreak of COVID-19. Data on the keywords 'domestic travel' and 'overseas travel' were collected from blogs, cafes, and news provided by Naver, Google, and Daum. The collection period was set from April to December 2022 when social distancing was lifted, and 2019 and 2020 were each set as one year and compared and analyzed with 2022. A total of 80 key words were extracted through text mining and centrality analysis was performed using NetDraw. Finally, through the CONCOR, the correlated keywords were clustered into 4. As a result of the study, tourism behavior in 2022 shows tourism recovery before the outbreak of COVID-19, segmentation of travel based on each person's preferred theme, prioritization of each country's corona mitigation policy, and then selecting a tourist destination. It is expected to provide basic data for the development of tourism marketing strategies and tourism products for the newly emerging tourism ecosystem after COVID-19.

• International Area Studies Review
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• v.15 no.1
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• pp.87-106
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• 2011

Using an event study, this paper investigates stock price reactions on Korean listed firms' convertible bond (CB) issue announcements over the sample period of January 2000 to November 2007. This study finds that on the Korean Security market, the CB issue announcements are associated with an increase in shareholder wealth on the announcement date. An information leakage by insider traders is also observable at preannouncement dates. Unlike the prior studies that indicate a prevailing negative effect on the announcements, this paper shows that domestic CB issue announcements as well as offshore ones yield a positive impact on the stock prices. This presents that in terms of stock price reactions to the CB issue announcements, the two CB issue markets show the positively same effects on shareholder wealth for the post-2000 period. For its drivers, this paper suggests that on the Korean market, firm size have negative relationship with the increase in the wealth incurred by the announcements. By contrast, an issue to maturity, a growth opportunity, and a relative issue size make a positive impact on it.

• Asia Marketing Journal
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• v.11 no.1
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• pp.39-72
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• 2009

With the growing importance of accountability, it is getting necessary to test the impact of marketing expenditure on marketing performance. Including recent ROM, we can find a few researches about marketing accountability. But there are a few problems about definitions and metric of marketing expenditure and marketing performance. Therefore, by defining and analyzing the impact of marketing expenditure on marketing performance, we are going to set the classification scheme of marketing expenditure and marketing performance. Based on research findings, new definitions and metrics are proposed as follows. First, we suggest the classification scheme of marketing expenditure. Marketing expenditure is defined as expense accounts in the balance sheet for doing marketing tasks. Marketing expenditures includes many accounts, for example, marketing research, advertising, sales promotion, foreign market development, physical distribution, after services. Among these marketing investment, advertising expenses have a positive effect on marketing performance. Second, we suggest the classification scheme of marketing performance. Already, marketing performance has been defined as financial metrics, customer metrics, market metrics, and corporate social responsibility. But, in this study, we find that the process model is not relevant for explaining association between the performance metrics. The process model is a virtuous cycle: "customer metrics→market metrics→financial metrics→firm valuation metrics." But, in this study, it is not supported or a little significant association between these metrics. Based on these results, we suggest the balance model or flower model as the classification scheme of marketing performance.

• Korea Trade Review
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• v.45 no.4
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• pp.137-152
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• 2020

The increase in national income, the expansion of transportation network, the increase in leisure time, and the influx of foreign tourists in the era of internationalization, the influx of the outside population of Jeju region increased rapidly until 2020. However, the corona 19 (Covid-19) incident that began in January 2020 has hit the entire industry, and the tourism industry in Jeju has also been greatly damaged. However, in the second half of 2020, with some calming of the Corona 19 situation and difficult to leave overseas, the number of visitors to Jeju Island is increasing again as Koreans choose Jeju Island as their domestic tourism. This study analyzed the capacity of Jeju's external population based on the Contingent Valuation Method, and based on this, attempted to suggest policy recommendations for Jeju. The size of accommodations such as the density of visitors, toilets, and rest areas were excluded from consideration, and the level of securing the parking lot already exceeded the capacity, and the rate of securing the parking lot was 93.4%. In the case of accommodation, the total number of available rooms is 88,691, even if one guest per room is assumed, which is 32,372,215 per year, which is sufficient in terms of visitor capacity. To analyze the aspects of psychological capacity, this study analyzed whether the residents are feeling psychological discomfort through three methods of road congestion, garbage disposal, and sewage treatment through Contingent Valuation Method. However, the inconvenience caused by the increase of visitors and the effect of continuous population influx is working in combination, and it has the limitation that the effects of these independent factors cannot be specifically separated. As a result of the study, discomfort has already been recognized in terms of psychological capacity among the factors of capacity, and it was estimated that a cost of about 45 billion won per year was incurred as a result of deriving psychological costs through Contingent Valuation Method. In the future, a policy review is needed to resolve or maintain the perception of this discomfort through continuous management. Accordingly, it is necessary to recognize that the increase of visitors leads to the psychological discomfort of the residents, and to seek a policy alternative that can simultaneously increase the number of visitors and the comfort of the residence.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.17 no.6
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• pp.1-12
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• 2022

This paper put the goal on boosting up early startup investment by delivering and positioning SAFE as the main early startup investment type in Korea. In particular, this paper proves the better fitting of SAFE as to the early stage of venture investment than these of Convertible Note. This paper as referring the previous studies of SAFE as the major keystone issues determining active SAFE applying (legal positioning issue, tax treatment issue, failure of inducing the following investment with uncertainty over maturity) proposes boosting up policy of Korean SAFE. First, as to accounting treatment of SAFE, it suggests SAFE to recognize legally as "the capital" on the Korean Venture Investment Act of introducing SAFE actively as venture investment type. Second, as to tax treatment issue, it proposes on amending venture indication rule as the best alternative of resolving tax issue by accepting SAFE as the investment meeting to venture investment requirement. Third, as benchmarking foreign cases, it delivers the method of modifying foreign SAFE Contract Format by adding up more clauses about safety vehicles against the failure of the following investment and fixing maturity date and event. Ultimately, all resolutions of this paper fall on highlighting the role of Korean Venture Investment Act and Ministry of SMEs and Startups.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.18 no.3
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• pp.173-189
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• 2023

Although many researches have been conducted that the contents consumption, called Hallyu, has a positive effect on the national image of Korea, which leads to product purchases, there have been few empirical studies based on the experience economy theory that connects to value relationships with customers. Therefore, based on the experiential economy theory, this research conducted an empirical analysis of the effect on Korean image and cosmetics purchase intention targeting women living in Malaysia and the Philippines who have experienced the Korean Wave(Hallyu). As a result of the research, entertainment experience, educational experience, and escape experience had a significant effect on the image of Korea, but aesthetic experience did not. Entertainment experience, educational experience and escape experience also had significant relationships in the indirect effect of Korean image on cosmetics purchase intention. In the moderating effect analysis comparing the two countries, in Malaysia, escape experience had a significant effect on the image of Korea, but in the Philippines, entertainment experience and educational experience had a significant effect on the image of Korea, so there was a difference between the two countries. The effect of Korean image on cosmetics purchase intention was confirmed significantly in both countries, but it was greater in the Philippines than in Malaysia. This research is meaningful in that it is an empirical study based on the systematic framework of experiential economy theory. In order to maintain the effectiveness of the Korean Wave(Hallyu), various improvements in the contents that make up the Korean Wave are required and policy consideration by the relevant authorities is needed. It is also necessary to consider each country's different acceptance of the Korean Wave(Hallyu).

• Journal of Industrial Convergence
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• v.22 no.4
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• pp.31-38
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• 2024

The purpose of this study was to examine the current status of elderly sports both domestically and internationally, and to explore strategies for the activation of Silver Taekwondo as one of the sports disciplines for the elderly. To investigate the status of elderly sports globally, press releases and statistical data from various national public institutions and sports facilities (including the Ministry of Culture, Sports and Tourism, the Ministry of Health and Welfare, the Korean Statistical Information Service, e-National Indicators, and the Korea Sports Promotion Foundation) were collected. Comparative analysis with related papers, journals, and books led to the following findings for activating Silver Taekwondo. Firstly, elderly sports in South Korea are primarily conducted through welfare centers, with a preference for dance, yoga, and music, while martial arts, including Taekwondo, had a lower preference rate. To increase participation in Silver Taekwondo, a variety of marketing approaches, similar to those used internationally, such as experiential case studies in media, film production, distribution, and telephone promotions, are necessary. Secondly, the development of Silver Taekwondo programs tailored to the training targets and the cultivation of instructors capable of executing these programs are needed. The development of programs should involve collaboration with Taekwondo institutions, dojangs, universities, and lifelong education centers, requiring the participation of majoring students and elderly sports instructors.

• The Journal of Fisheries Business Administration
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• v.15 no.1
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• pp.131-153
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• 1984

Fishery resources are still abundant compared with other resources and the possibility of exploitation is probably great. The Korean fishery industry has grown remarkably since 1957, and Korea is ranked as one of the major fishery countries. Its of fishery products reached the 9th in the world and the value of exports was 5th in 1982. But recently a growth rate has slowed down, due to the enlargement of territorial seas by the declaration of the 200 mile, Exclusive Economic Zone, the tendency to develop fishery resources strate-gically in international bargaining, the change in function of the international organizations, the expansion of regulated waters, the illegal arrest of our fishing boats, the rapid rise in oil prices, and the fall in fish prices, the development of fishery resources as a symbol of nationalism, the fishing boats decreptitude, the rise of crew wages, regulations on fishing methods, fish species, fishing season, size of fish, and mesh size, fishing quotas and the demand of excessive fishing royalties. Besides the the obligation of coastal countries, employing crews of their host countries is also an example of the change in the international environment which causes the aggravation of foreign profit of fishing firms. To ameliorate the situation, our Korean fishery firms must prepare efficient plans and study systematically to internationalize themselves because such existing methods as conventional fishing entry and licence fishing entry are likely to be unable to cope with international environmental change. Thus, after the systematic analysis of the problem, some new combined alternatives might be proposed. These are some of the new schemes to support this plan showing the orientation of our national policy: 1. Most of the coastal states, to cope with rapid international environmental change and to survive in the new era of ocean order, have rationalized their higher governmental structure concerning the fishery industries. And the coastal countries which are the objectives of our expecting entry, demand excessive economic and technical aid, limit the number of fishing boats’entry and the use of our foreign fishing bases, and regulate the membership of the international fishery commissions. Especially, most of the coastal or island countries are recently independent states, which are poorer in national budget, depend largely on fishing royalties and licence entry fees as their main resources of national finance. 2. Alternatives to our entry to deep sea fishing, as internationalization strategies, are by direct foreign investment method. About 30 firms have already invested approximately US $ 8 million in 9 coastal countries. Areas of investment comprise the southern part of the Atlantic Ocean, the Moroccan sea and five other sea areas. Trawling, tuna purse seining and five other fields are covered by the investment. Joint-venture is the most prominent method of this direct investment. If we consider the number of entry firms, the host countries, the number of seas available and the size of investment, this method of cooperation is perhaps insufficient so far. Our fishery firms suffer from a weakness in international competitive ability, an insufficiency of information, of short funds, incompetency in the market, the unfriendliness of host coastal countries, the incapability of partners in joint-ventures and the political instability of the host countries. To enlarge our foreign fishing grounds, we are to actively adopt the direct investment entry method and to diversity our collaboraboration with partner countries. Consequently, besides proper fishing, we might utilize forward integration strategies, including the processing fied. a. The enterprise emigration method is likely to be successful in Argentina. It includes the development of Argentinian fishing grounds which are still not exploited in spite of abundant resources. Besides, Arentina could also be developed as a base for the exploitation of the krill resources and for further entries into collaboration with other Latin American countries. b. The co-business contract fishing method works in American territorial seas where American fishermen sell their fishery products to our factory ships at sea. This method contributes greatly to obtaining more fishing quotas and in innovation bottom fishing operation. Therefore we may apply this method to other countres to diffuse our foreign fishing entry. c. The new fishing ground development method was begun in 1957 by tuna long-line experimental fishing in the Indian Ocean. It has five fields, trawling, skipjack pole fishing and shrimp trawling, and so on. Recently, Korean fisheries were successful in the development of the Antarctic Ocean krill and tuna purse seining. 3. The acceleration of the internationalization of deep sea fishing; a. Intense information exchange activities and commission participation are likely to be continues as our contributions to the international fishery organizations. We should try to enter international fishery commissions in which we are not so far participating. And we have to reform adequately to meet the changes of the function of the international commissions. With our partner countries, we ought to conclude bilateral fishery agreements, thus enlarging our collaboration. b. Our government should offer economic and technical aids to host countries to facilitate our firms’fishery entry and activities. c. To accelerate technical innovation, our fishery firms must invest greater amount in technical innovation, at the same time be more discriminatory in importing exogeneous fishery technologies. As for fishing methods; expanded use of multi-purpose fishing boats and introduction of automation should be encuraged to prevent seasonal fluctuations in fishery outputs. d. The government should increases financial and tax aid to Korean firms in order to elevate already weak financial structure of Korean fishery firms. e. Finally, the government ought to revise foreign exchange regulations being applied to deep sea fishery firms. Furthermore, dutes levied on foreign purchaed equipments and supplies used by our deep sea fishing boats thould be reduced or exempted. when the fish caught by Korean partner of joint-venture firms is sold at the home port, pusan, import duty should be exempted.

• Management & Information Systems Review
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• v.36 no.4
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• pp.21-32
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• 2017

Motivated by the recent cases of negligent social responsibility as manifested by foreign luxury fashion brands in Korea, this study investigates whether agency costs depend on the sustainability of different types of corporate governance. Agency costs refer either to vertical costs arising from the relationship between stockholders and managers, or to horizontal costs associated with the potential conflicts between majority and minority stockholders. The firms with luxury fashion brand could spend large sums of money on maintenance of magnificent brand image, thereby increasing the agency cost. On the contrary, the firms may hold down wasteful spending to report a gaudily financial achievement. This results in mitigation of the agency cost. Agency costs are measured by the value of the principal component. First, three ratios are constructed: asset turnover, operating expense to sales, and earnings before interest, tax, and depreciation. Then, the scores of each of these ratios for individual firms in the sample are differenced from the ratios for the benchmark firm of S-OIL. S-OIL was designated as the best superior governance model firm for 2013 by CGS. We perform regression analysis of each agency cost index, luxury fashion brand dummy and a set of control variables. The regression results indicate that the agency costs of the firms with luxury fashion brand exceed those of control group in the fashion industry in the part of operating expenses, but the agency cost falls short of those of control group in the part of EBITD, thus the aggregate agency costs are not differential of those of the control group. In sensitivity test, the results are same that the agency cost of the firms are higher than those of the matching control group with PSM(propensity matching method). These results are corroborated by an additional analysis comparing the group of the companies with the best brands with the control group. The results raise doubts about the effectiveness of management of the firms with luxury fashion brand. This study has a limitation that the research has performed only for 2013 and this paper suggests that there is room for improvement in the current research methodology.

• Journal of Korea Society of Industrial Information Systems
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• v.23 no.5
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• pp.119-134
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• 2018

Today, many firms face the environment of high uncertainty and severe competition due to the rapid technology development and the diverse needs of customers. In the business environment, one of the most important ways to gain sustainable competitive advantage and future growth engine is related to NPD (New Product Development), which is a very important issue for practice and academia. Thus, this study intends to provide new values to practitioners and researchers related to NPD by analyzing current research trends and future trends in NPD field. For this, we bibliometrically analyzed keyword networks which consist of keywords that were already published in the eminent journals from Scopus database to generate insights that have not been captured in the previous reviews on the topic. As a result, we could understand the extant research streams in NPD field, and suggest the changes of specific research topics based on the connected relationships among keywords over the time. In addition, we also foresaw the general future research trends in NPD field based on the keywords according to preferential attachment processes. Through this study, it was confirmed that NPD keyword network is a small world network that follows the distribution of power law and the growth of network is formed by link formation by keyword preferential attachment. In addition, through component analysis and centrality analysis, keywords such as Innovation, New product innovation, Risk management, Concurrent engineering, Research and development, and Product life cycle management are highly centralized in NPD keyword network. On the other hand, as a result of examining the change of preferential attachment of keywords over the time, we suggested the required new research direction including i) NPD collaboration with suppliers, ii) NPD considering market uncertainty, iii) NPD considering convergence with the other academic areas like technology management and knowledge management, iv) NPD from SME(Small and medium enterprises) perspective. The results of this study can be used to determine the research trends of NPD and the new research themes for interdisciplinary studies with other disciplines.