• Title/Summary/Keyword: Core Assets

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Analysis of the Landscape Conservation Direct Payment System Based on Spatial Information Data and Utilization of Rural Area Regeneration (공간정보데이터 기반의 경관보전직불제도 실태분석과 농촌공간 재생의 활용방안)

  • Kim, Young-Jin;Kang, Dong-Jin;Choi, Jin-ah;Son, Yong-hoon
    • Journal of Korean Society of Rural Planning
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    • v.29 no.3
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    • pp.39-52
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    • 2023
  • There is a clear need to enhance the attractiveness of rural areas by leveraging their core assets to respond to emerging mega-trends. This paper analyzes the progress of the direct payment program that has been implemented to preserve agricultural landscapes in rural areas, using spatial information data. The study identified the planting characteristics of landscape crops, spatial utilization characteristics of the system, and utilization characteristics of the system by the beneficiaries. According to the analysis, the spatial utilization characteristics of the system could be classified into eight types: tourism resources and nearby agricultural areas, designation across the entire rural area, agricultural areas around villages, large-scale agricultural areas, small-scale agricultural areas, scattered and dispersed areas, independent parcels of land, and ranches. Based on the characteristics and limitations of the landscape preservation direct payment system, this study provides directions for future rural specialized zones. The landscape preservation direct payment system focuses on income support for farmers and providing agricultural benefits in terms of public interest. Meanwhile, the landscape agricultural zone serves as a rural specialized zone, highlighting the need to explore the direction of integrated rural landscape management. It is important for farmers, as the key stakeholders, to preserve the agricultural landscape in rural areas. Forming community-level cooperatives and engaging in relevant activities are crucial for achieving this goal. In order to actively preserve the agricultural landscape, it is necessary to consider the resumption of financial support for village landscape preservation activities, along with the designation of landscape agricultural zones. There is a need to conduct a specific review and explore measures to accommodate the designated landscape complexes at the local government level. The higher the ratio of designated landscape complexes, the more agricultural landscape management based on public value has been carried out. The designation of such landscape complexes can be seen as a demand for voluntary utilization of agricultural landscapes in the region. Moreover, as the ratio of designated landscape complexes increases, it becomes evident that farmers at the village level actively participate in agricultural landscape preservation and contribute to providing public value or utilize it as a tourism resource. This highlights the need for managing agricultural landscapes at the village level within the appropriate context.

The effects of knowledge management strategy on the management performance in the hotel industry (호텔기업의 지식경영전략이 경영성과에 미치는 영향)

  • Kim, Hyoung-Gu;Son, Jae-Young;SunWoo, Young-Soo
    • Journal of the Korea Society of Computer and Information
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    • v.14 no.3
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    • pp.227-235
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    • 2009
  • The ultimate goal of hotel corporations is to maintain their existence by securing competitive advantages over their competitors. In order to secure competitive advantages, they need to shed off the conventional paradigm of company management, which increasingly grows weaker as the industrial society turns into a knowledge-based one, and make effective use of knowledge, which is the core source of their wealth and competitiveness, in their management. Thus this study set out to identify knowledge management strategy to result in great management performance to hotel corporations. It also aimed to suggest specific action plans for them to do knowledge management efficiently based on the results. The causal relations between the knowledge management strategy and management performance were examined to figure out the former's influences on the latter. As a result, Two types of knowledge management strategy seemed to have positive(+) impacts on competitive advantages, but negative(-) impacts on financial performance.

Cultural Services Assessment in DMZ(Demilitarized Zone) Border Areas (DMZ(Demilitarized Zone) 접경지역의 문화서비스 평가)

  • Ko, Ha-jung;Kwon, Hyuk-soo;Kim Jung-in
    • Journal of the Korean Institute of Landscape Architecture
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    • v.51 no.6
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    • pp.46-60
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    • 2023
  • This study examines the appropriateness of indicators and methodologies through the evaluation of cultural services in border areas and uses them as basic data for the ecosystem service-based management of border areas, which are key domestic ecological assets. Accordingly, in this study, seven border cities and counties were evaluated and compared based on the evaluation indicators and methods presented by the National Institute of Ecology. As a result of the cultural service evaluation, it was found that Paju City was superior in leisure and tourism, Inje-gun was best in scenic beauty and heritage, and Yanggu-gun was strongest in education, and Inje-gun in heritage. Accordingly, through this study, future tasks for comprehensive cultural service evaluation were presented as follows. First, in order to evaluate ecosystem services at the national and regional levels, it is necessary to establish an indicator system for cultural service evaluation and monitoring. Second, when building a cultural service evaluation index system, it is necessary to review upper and lower conceptual units and the consistency between indicators according to the scale of the evaluation region. Third, a specific review of DB utilization for cultural service evaluation should be conducted depending on the type of ecosystem. Lastly, given the significant lack of domestic cultural service research, additional basic research must be conducted to evaluate cultural services including non-material and qualitative perceptions. In order to evaluate cultural services in the future, additional basic research is needed for each ecosystem type, and a process of finding appropriate evaluation indicators and methods through research is necessary.

An Examination of Knowledge Sourcing Strategies Effects on Corporate Performance in Small Enterprises (소규모 기업에 있어서 지식소싱 전략이 기업성과에 미치는 영향 고찰)

  • Choi, Byoung-Gu
    • Asia pacific journal of information systems
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    • v.18 no.4
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    • pp.57-81
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    • 2008
  • Knowledge is an essential strategic weapon for sustaining competitive advantage and is the key determinant for organizational growth. When knowledge is shared and disseminated throughout the organization, it increases an organization's value by providing the ability to respond to new and unusual situations. The growing importance of knowledge as a critical resource has forced executives to pay attention to their organizational knowledge. Organizations are increasingly undertaking knowledge management initiatives and making significant investments. Knowledge sourcing is considered as the first important step in effective knowledge management. Most firms continue to make an effort to realize the benefits of knowledge management by using various knowledge sources effectively. Appropriate knowledge sourcing strategies enable organizations to create, acquire, and access knowledge in a timely manner by reducing search and transfer costs, which result in better firm performance. In response, the knowledge management literature has devoted substantial attention to the analysis of knowledge sourcing strategies. Many studies have categorized knowledge sourcing strategies into intemal- and external-oriented. Internal-oriented sourcing strategy attempts to increase firm performance by integrating knowledge within the boundary of the firm. On the contrary, external-oriented strategy attempts to bring knowledge in from outside sources via either acquisition or imitation, and then to transfer that knowledge across to the organization. However, the extant literature on knowledge sourcing strategies focuses primarily on large organizations. Although many studies have clearly highlighted major differences between large and small firms and the need to adopt different strategies for different firm sizes, scant attention has been given to analyzing how knowledge sourcing strategies affect firm performance in small firms and what are the differences between small and large firms in the patterns of knowledge sourcing strategies adoption. This study attempts to advance the current literature by examining the impact of knowledge sourcing strategies on small firm performance from a holistic perspective. By drawing on knowledge based theory from organization science and complementarity theory from the economics literature, this paper is motivated by the following questions: (1) what are the adoption patterns of different knowledge sourcing strategies in small firms (i,e., what sourcing strategies should be adopted and which sourcing strategies work well together in small firms)?; and (2) what are the performance implications of these adoption patterns? In order to answer the questions, this study developed three hypotheses. First hypothesis based on knowledge based theory is that internal-oriented knowledge sourcing is positively associated with small firm performance. Second hypothesis developed on the basis of knowledge based theory is that external-oriented knowledge sourcing is positively associated with small firm performance. The third one based on complementarity theory is that pursuing both internal- and external-oriented knowledge sourcing simultaneously is negatively or less positively associated with small firm performance. As a sampling frame, 700 firms were identified from the Annual Corporation Report in Korea. Survey questionnaires were mailed to owners or executives who were most erudite about the firm s knowledge sourcing strategies and performance. A total of 188 companies replied, yielding a response rate of 26.8%. Due to incomplete data, 12 responses were eliminated, leaving 176 responses for the final analysis. Since all independent variables were measured using continuous variables, supermodularity function was used to test the hypotheses based on the cross partial derivative of payoff function. The results indicated no significant impact of internal-oriented sourcing strategies while positive impact of external-oriented sourcing strategy on small firm performance. This intriguing result could be explained on the basis of various resource and capital constraints of small firms. Small firms typically have restricted financial and human resources. They do not have enough assets to always develop knowledge internally. Another possible explanation is competency traps or core rigidities. Building up a knowledge base based on internal knowledge creates core competences, but at the same time, excessive internal focused knowledge exploration leads to behaviors blind to other knowledge. Interestingly, this study found that Internal- and external-oriented knowledge sourcing strategies had a substitutive relationship, which was inconsistent with previous studies that suggested complementary relationship between them. This result might be explained using organizational identification theory. Internal organizational members may perceive external knowledge as a threat, and tend to ignore knowledge from external sources because they prefer to maintain their own knowledge, legitimacy, and homogeneous attitudes. Therefore, integrating knowledge from internal and external sources might not be effective, resulting in failure of improvements of firm performance. Another possible explanation is small firms resource and capital constraints and lack of management expertise and absorptive capacity. Although the integration of different knowledge sources is critical, high levels of knowledge sourcing in many areas are quite expensive and so are often unrealistic for small enterprises. This study provides several implications for research as well as practice. First this study extends the existing knowledge by examining the substitutability (and complementarity) of knowledge sourcing strategies. Most prior studies have tended to investigate the independent effects of these strategies on performance without considering their combined impacts. Furthermore, this study tests complementarity based on the productivity approach that has been considered as a definitive test method for complementarity. Second, this study sheds new light on knowledge management research by identifying the relationship between knowledge sourcing strategies and small firm performance. Most current literature has insisted complementary relationship between knowledge sourcing strategies on the basis of data from large firms. Contrary to the conventional wisdom, this study identifies substitutive relationship between knowledge sourcing strategies using data from small firms. Third, implications for practice highlight that managers of small firms should focus on knowledge sourcing from external-oriented strategies. Moreover, adoption of both sourcing strategies simultaneousiy impedes small firm performance.

On the Research of 17th Century Joseon Dynasty's Bulsang, a Buddist Statue, Manufacturing Technique by Examining the Daeungbojeon Hall Samse-bulsang, The Buddha of the Three Words, at the Haenam Daeheungsa Temple (해남 대흥사 대웅보전 삼세불상을 통해 본 17세기 조선시대 불상의 제작기법 연구)

  • Lee, Su-yea
    • Korean Journal of Heritage: History & Science
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    • v.47 no.1
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    • pp.164-179
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    • 2014
  • The Buddhas of the Three Words in a form of arranging Bhaiṣajyaguru and $Amit{\bar{a}}bha$ at its side based on ${\acute{S}}{\bar{a}}kyamuni$ at the center is enshrined in Daeungbojeon Hall of Daeheungsa Temple located at Haenam. So far, this Buddhas of the Three Words has been known as a wooden Buddha statue. However, as a result of X-ray screening, in left/right Buddha statues excepting main Buddha, wood and molding clay layer were observed at the same time. Therefore, this study intended to observe its internal structure, grafting method and to clarify making technique of Buddha statue during Joseon era based on image information being obtained through X-ray screening of The Buddhas of the Three Words of Daeheungsa Temple. As its result, it was revealed that form of ${\acute{S}}{\bar{a}}kyamuni$ was completed by mainly grafting 5 pieces of timber and this statue shows a typical wood grafted Buddha statue during Joseon era. Form of Bhaiṣajyaguru and $Amit{\bar{a}}bha$ were completed based on molding technique by applying clay on sculpture similar to its appearance after sculpturing more than 10 pieces of timber through its grafting. In other words, internal timber is considered to play a role of its core and grafting method of timber is more close to a technique of molding Buddha statue than to that of wooden Buddha statue during Joseon era. However, clay was directly applied on timber thinly, not applying clay thickly on it after winding straw rope on wooden core and its characteristic is that its facial area was completely composed of wooden construction only. Therefore, it is hard to rule out a possibility that the original sculpturing intention of an artist might be a wooden Buddha statue but in view of the fact that a word, 'molding' was used in a record of relics buried in statue, it could be seen that this Buddha statue might have been recognized as a molding statue at the time when creation of this statue was completed. It is considered that number of case of making statue based on this technique would be more increased when more results of X-ray screening should be accumulated and if more data should be collected, it would provide a significant evidence for identifying chronological, regional aspects of making technique of Buddha statue.

Structural Adjustment of Domestic Firms in the Era of Market Liberalization (시장개방(市場開放)과 국내기업(國內企業)의 구조조정(構造調整))

  • Seong, So-mi
    • KDI Journal of Economic Policy
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    • v.13 no.4
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    • pp.91-116
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    • 1991
  • Market liberalization progressing simultaneously with high and rapidly rising domestic wages has created an adverse business environment for domestic firms. Korean firms are losing their international competitiveness in comparison to firms from LDC(Less Developed Countries) in low-tech industries. In high-tech industries, domestic firms without government protection (which is impossible due to the liberalization policy and the current international status of the Korean economy) are in a disadvantaged position relative to firms from advanced countries. This paper examines the division of roles between the private sector and the government in order to achieve a successful structural adjustment, which has become the impending industrial policy issue caused by high domestic wages, on the one hand, and the opening of domestic markets, on the other. The micro foundation of the economy-wide structural adjustment is actually the restructuring of business portfolios at the firm level. The firm-level business restructuring means that firms in low-value-added businesses or with declining market niches establish new major businesses in higher value-added segments or growing market niches. The adjustment of the business structure at the firm level can only be accomplished by accumulating firm-specific managerial assets necessary to establish a new business structure. This can be done through learning-by-doing in the whole system of management, including research and development, manufacturing, and marketing. Therefore, the voluntary cooperation among the people in the company is essential for making the cost of the learning process lower than that at the competing companies. Hence, firms that attempt to restructure their major businesses need to induce corporate-wide participation through innovations in organization and management, encourage innovative corporate culture, and maintain cooperative labor unions. Policy discussions on structural adjustments usually regard firms as a black box behind a few macro variables. But in reality, firm activities are not flows of materials but relationships among human resources. The growth potential of companies are embodied in the human resources of the firm; the balance of interest among stockholders, managers, and workers of the company' brings the accumulation of the company's core competencies. Therefore, policymakers and economists shoud change their old concept of the firm as a technological black box which produces a marketable commodities. Firms should be regarded as coalitions of interest groups such as stockholders, managers, and workers. Consequently the discussion on the structural adjustment both at the macroeconomic level and the firm level should be based on this new paradigm of understanding firms. The government's role in reducing the cost of structural adjustment and supporting should the creation of new industries emphasize the following: First, government must promote the competition in domestic markets by revising laws related to antitrust policy, bankruptcy, and the promotion of small and medium-sized companies. General consensus on the limitations of government intervention and the merit of deregulation should be sought among policymakers and people in the business world. In the age of internationalization, nation-specific competitive advantages cannot be exclusively in favor of domestic firms. The international competitiveness of a domestic firm derives from the firm-specific core competencies which can be accumulated by internal investment and organization of the firm. Second, government must build up a solid infrastructure of production factors including capital, technology, manpower, and information. Structural adjustment often entails bankruptcies and partial waste of resources. However, it is desirable for the government not to try to sustain marginal businesses, but to support the diversification or restructuring of businesses by assisting in factor creation. Institutional support for venture businesses needs to be improved, especially in the financing system since many investment projects in venture businesses are highly risky, even though they are very promising. The proportion of low-value added production processes and declining industries should be reduced by promoting foreign direct investment and factory automation. Moreover, one cannot over-emphasize the importance of future-oriented labor policies to be based on the new paradigm of understanding firm activities. The old laws and instititutions related to labor unions need to be reformed. Third, government must improve the regimes related to money, banking, and the tax system to change business practices dependent on government protection or undesirable in view of the evolution of the Korean economy as a whole. To prevent rational business decisions from contradicting to the interest of the economy as a whole, government should influence the business environment, not the business itself.

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Measuring Consumer-Brand Relationship Quality (소비자-브랜드 관계 품질 측정에 관한 연구)

  • Kang, Myung-Soo;Kim, Byoung-Jai;Shin, Jong-Chil
    • Journal of Global Scholars of Marketing Science
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    • v.17 no.2
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    • pp.111-131
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    • 2007
  • As a brand becomes a core asset in creating a corporation's value, brand marketing has become one of core strategies that corporations pursue. Recently, for customer relationship management, possession and consumption of goods were centered on brand for the management. Thus, management related to this matter was developed. The main reason of the increased interest on the relationship between the brand and the consumer is due to acquisition of individual consumers and development of relationship with those consumers. Along with the development of relationship, a corporation is able to establish long-term relationships. This has become a competitive advantage for the corporation. All of these processes became the strategic assets of corporations. The importance and the increase of interest of a brand have also become a big issue academically. Brand equity, brand extension, brand identity, brand relationship, and brand community are the results derived from the interest of a brand. More specifically, in marketing, the study of brands has been led to the study of factors related to building of powerful brands and the process of building the brand. Recently, studies concentrated primarily on the consumer-brand relationship. The reason is that brand loyalty can not explain the dynamic quality aspects of loyalty, the consumer-brand relationship building process, and especially interactions between the brands and the consumers. In the studies of consumer-brand relationship, a brand is not just limited to possession or consumption objectives, but rather conceptualized as partners. Most of the studies from the past concentrated on the results of qualitative analysis of consumer-brand relationship to show the depth and width of the performance of consumer-brand relationship. Studies in Korea have been the same. Recently, studies of consumer-brand relationship started to concentrate on quantitative analysis rather than qualitative analysis or even go further with quantitative analysis to show effecting factors of consumer-brand relationship. Studies of new quantitative approaches show the possibilities of using the results as a new concept of viewing consumer-brand relationship and possibilities of applying these new concepts on marketing. Studies of consumer-brand relationship with quantitative approach already exist, but none of them include sub-dimensions of consumer-brand relationship, which presents theoretical proofs for measurement. In other words, most studies add up or average out the sub-dimensions of consumer-brand relationship. However, to do these kind of studies, precondition of sub-dimensions being in identical constructs is necessary. Therefore, most of the studies from the past do not meet conditions of sub-dimensions being as one dimension construct. From this, we question the validity of past studies and their limits. The main purpose of this paper is to overcome the limits shown from the past studies by practical use of previous studies on sub-dimensions in a one-dimensional construct (Naver & Slater, 1990; Cronin & Taylor, 1992; Chang & Chen, 1998). In this study, two arbitrary groups were classified to evaluate reliability of the measurements and reliability analyses were pursued on each group. For convergent validity, correlations, Cronbach's, one-factor solution exploratory analysis were used. For discriminant validity correlation of consumer-brand relationship was compared with that of an involvement, which is a similar concept with consumer-based relationship. It also indicated dependent correlations by Cohen and Cohen (1975, p.35) and results showed that it was different constructs from 6 sub-dimensions of consumer-brand relationship. Through the results of studies mentioned above, we were able to finalize that sub-dimensions of consumer-brand relationship can viewed from one-dimensional constructs. This means that the one-dimensional construct of consumer-brand relationship can be viewed with reliability and validity. The result of this research is theoretically meaningful in that it assumes consumer-brand relationship in a one-dimensional construct and provides the basis of methodologies which are previously preformed. It is thought that this research also provides the possibility of new research on consumer-brand relationship in that it gives root to the fact that it is possible to manipulate one-dimensional constructs consisting of consumer-brand relationship. In the case of previous research on consumer-brand relationship, consumer-brand relationship is classified into several types on the basis of components consisting of consumer-brand relationship and a number of studies have been performed with priority given to the types. However, as we can possibly manipulate a one-dimensional construct through this research, it is expected that various studies which make the level or strength of consumer-brand relationship practical application of construct will be performed, and not research focused on separate types of consumer-brand relationship. Additionally, we have the theoretical basis of probability in which to manipulate the consumer-brand relationship with one-dimensional constructs. It is anticipated that studies using this construct, which is consumer-brand relationship, practical use of dependent variables, parameters, mediators, and so on, will be performed.

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A Study on the Application of Block Chain Technology on EVMS (EVMS 업무의 블록체인 기술 적용 방안 연구)

  • Kim, Il-Han;Kwon, Sun-Dong
    • Management & Information Systems Review
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    • v.39 no.2
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    • pp.39-60
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    • 2020
  • Block chain technology is one of the core elements for realizing the 4th industrial revolution, and many efforts have been made by government and companies to provide services based on block chain technology. In this study we analyzed the benefits of block chain technology for EVMS and designed EVMS block chain platform with increased data security and work efficiency for project management data, which are important assets in monitoring progress, foreseeing future events, and managing post-completion. We did the case studies on the benefits of block chain technology and then conducted the survey study on security, reliability, and efficiency of block chain technology, targeting 18 block chain experts and project developers. And then, we interviewed EVMS system operator on the compatibility between block chain technology and EVM Systems. The result of the case studies showed that block chain technology can be applied to financial, logistic, medical, and public services to simplify the insurance claim process and to improve reliability by distributing transaction data storage and applying security·encryption features. Also, our research on the characteristics and necessity of block chain technology in EVMS revealed the improvability of security, reliability, and efficiency of management and distribution of EVMS data. Finally, we designed a network model, a block structure, and a consensus algorithm model and combined them to construct a conceptual block chain model for EVM system. This study has the following contribution. First, we reviewed that the block chain technology is suitable for application in the defense sector and proposed a conceptual model. Second, the effect that can be obtained by applying block chain technology to EVMS was derived, and the possibility of improving the existing business process was derived.

The Relationship among Country of Origin, Brand Equity and Brand Loyalty: Comparison among USA, China and Korea (원산지효과, 상표자산 및 상표충성 간의 관계에 관한 연구: 미국, 중국, 한국의 비교분석)

  • Ko, Eun-Ju;Kim, Kyung-Hoon;Kim, Sook-Hyun;Li, Guo-Feng;Zou, Peng;Zhang, Hao
    • Journal of Global Scholars of Marketing Science
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    • v.19 no.1
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    • pp.47-58
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    • 2009
  • The marketing environment has become competitive to an extent that requires firms to target their products at markets that span national boundaries. However, competitive clout cannot be achieved in global consumer markets unless firms thoroughly understand and adequately respond to the core values and needs of those consumers. Brand equity is one of the most important assets to a company. Especially in sportswear markets, brand equity is the crucial value added to a product by its brand name. Factors such as country of origin also influence customer's attitude towards brand equity. Therefore, this paper discusses the relationship between country of origin effect and brand equity, and how they influence consumers' loyalty for respective brands. This paper focused on the sports shoes market, because it is an increasing area of opportunity for world manufacturers. The objectives of this study were the following. (1) Test the effect of country of origin on brand equity. (2) Test how brand equity influences consumers' brand loyalty. (3) Find whether there are differences in the effects of country of origin and brand equity among the three countries. (4) Find whether there are differences in the effects of country of origin and brand equity among the different lifestyles. Based on the review of literature results, the hypotheses are concluded as the following: H1-a: Country image has positive influence on country of origin. H1-b: Product perception has positive influence on country of origin. H2-a: Perceived quality has positive effect on brand equity. H2-b: Perceived price has positive effect on brand equity. H3: Country of origin has positive effect on brand equity. H4: Brand equity has a positive impact on brand loyalty. Research model was constructed (see Fig. 1). After data analysis, the following results were concluded: sports shoes purchase behavior showed significant differences among Korean, Chinese, and American consumers for favorite brand, purchased brand, purchased place, information usage, and favorite sports games. The results of this study also extend the research of the relationship among country of origin, brand equity and brand loyalty to the sports shoes market. Brand equity was proven to have a significant relationship with brand loyalty for all countries. The factors which can influence brand equity are different for different countries. The third finding of this paper is that we identified different three lifestyles, adventurer, follower, and laggard, for Korean, Chinese and American consumers. Without the nationality boundary, seeing the emergence of a new group of consumers who have similar preferences and buy similar brands is more important. All of the consumers consider brand equity to keep their brand loyalty. Perceived price is the only factor which can influence brand equity for adventurers; brand is more important for them. The laggards were not influenced by any factor. All of the factors expect perceived price are important for the followers. Marketing managers should consider brand equity when introducing their brand into a new market. Also localization is the basic strategy that all the sports shoes companies should understand. But as a global brand, understanding the same characteristics for each country is more important to build global strategy.

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Spatial Characteristics of Cultural Economy Emergence and Diffusion: Creative Retail Shops in Bukchon (문화경제의 발현과 확산의 공간적 특징: 북촌의 창의적 소매업을 중심으로)

  • Lee, Kyung-Ok;Lee, Keum-Sook
    • Journal of the Economic Geographical Society of Korea
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    • v.9 no.1
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    • pp.23-38
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    • 2006
  • This study attempts to investigate the spatial characteristics of cultural economies of Bukchon in Seoul, where abundant cultural assets exist. This area has been the administrative-political core locale since 14C, therefore, a lot of traditional- and contemporary-cultural facilities are remains, This area possessed unique place characteristics by coexisting traditional and modern cultures, and thus attracted to culture demanders. Recently many economic activities have increased in this area, and most of them are related with the cultural elements of the region, In particular creative retail shops, which produce goods by flexible-specialized production system, have been agglomerated in this area, The goods are designed, produced, and sold at the shop place. Most of them are uniquely designed hand made products, and produced a few amount. The economic value of these products related with the cultural environment of Bukchon. These creative shops emerged at the front of Samcheongdong street in the beginning, and then have diffused into the inside of Samcheongdong street and Hwagae street. The shops have very unique exteriors related with traditional houses in this area, and located on roadsides where are not many passerby. Most owners of the retail stores are highly educated and studied design, and produce goods by themselves at the shops. The reason that they opened their shops in Bukchon is directly related with the unique cultural environment of this area. They hope that more unique and artistic stores join this area so that developed this area as culture and fashion combined area.

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