• The Journal of Industrial Distribution & Business
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• v.13 no.8
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• pp.1-7
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• 2022

Purpose: The present study concentrates on the issues that affected the employees directly and acted as stress factors. These stress factors affect how the employees perform while undertaking their duties. Furthermore, this study evaluated how the involvement of the corporate counsel affected the company by enhancing the productivity of the employees. Research design, data and methodology: The research design of this research is a literature content analysis and method for data handling should be described, and the resultant combination of the studies should include the consistency measures for every meta-analysis. Specify any risk assessment of bias that may impact the cumulative evidence, such as the publication bias and the selective reporting within studies. Results: The finding shows that change in the location of employees' organizational restructuring and the introduction of new technologies also contributed to significant organizational stress factors. These results show a substantial correlation between the magnitude of the adjustments' effects on employees' performance. Conclusions: The current study strongly concludes that counselors, through their prowess, can analyze and evaluate the stress factors that are evident among the employees and in the organization. Some of these factors may be office layout, organizational codes of ethics, organization rules, and employees' personal challenges.

• KDI Journal of Economic Policy
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• v.30 no.2
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• pp.27-59
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• 2008

This paper empirically investigates the finance-growth linkage in Korea by utilizing firm-level data of manufacturing industries before and after the 1997 financial crisis. We find that, first, an increase in external finance is associated with a faster subsequent capital accumulation of firms. However, this capital accumulation channel became relatively attenuated after the crisis. Second, the total factor productivity growth effect of external finance has been considerably weak both before and after the crisis. Third, the information production and industry restructuring effects of external finance have also remained weak after the crisis. The limited role of external finance in post-crisis Korea partially reflects sluggish corporate investment and weakening dependence of good credit firms on external finance. The evidence suggests that, in order to effectively sustain economic growth, further reform efforts may be required to strengthen resource allocation and corporate restructuring roles of financial markets and institutions.

• Journal of the Economic Geographical Society of Korea
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• v.14 no.3
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• pp.358-376
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• 2011

This study investigated the agglomeration process of the towel industry in the Daejeon and Chungcheong regions, which are located in the mid-western part of South Korea, focusing in particular on industrial restructuring. Moreover, it aimed to identify the spatial features of the towel industry by analyzing the subcontracting linkages and to discover the implications of such linkages on government policy. The towel industry in the Daejeon and Chungcheong regions began to grow from the end of the Korean War when textile technicians from North Korea settled down in this area, spreading their techniques and know-how within the region. Later, in the 1980s, the industry underwent restructuring when companies within the region strengthened their linkages through corporate specialization based on the concept of social division of labor. Accordingly, the industrial linkages and linkage spaces, as well as characteristics of the industry, should all be considered to develop and implement policies for the regions of the towel industry.

• Journal of the Economic Geographical Society of Korea
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• v.16 no.4
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• pp.597-612
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• 2013

The purpose of this paper is to examine the building process of industrial competitiveness of the Korean cosmetics industry in the global production network. For this study, cosmetics industry in Korea is selected as a research subject. Secondary data and the Korea Health Industry Statistics are analyzed to examine the overall changes of the cosmetics firms under the changes of global economy overtime. In-depth interviews of the case firms are also conducted to understand the old and new corporate strategies which locate with the sustainability and competitive advantages under an uncertain environment. As a result of the restructuring processes, the Korea cosmetics industry has upgraded its position as an innovative power in the world cosmetics industry. In addition, during the restructuring processes, cosmetics industry is overwhelmingly concentrated in the Capital Region, reflecting intensification of agglomeration economies.

• Journal of the Economic Geographical Society of Korea
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• v.13 no.4
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• pp.548-560
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• 2010

This study aims to estimate the payment of farmland reverse mortgage(FRM) and to explore policy considerations about the restructuring of rural area after the initiation of farmland reverse mortgage. Farmland reverse mortgage provides stable monthly income basement for the welfare of rural elderly by liquidating fixed asset such as farmlands which the elderly in rural area owns. The main results of this study can be summarized as follows. First, FRM model based on Housing Equity Conversion Model, which is suggested by Rodda et al (2003), was built. Then, critical factors like farmland value rising rates and interest rates were elaborated, and affordable and proper monthly payment were estimated. 246,982 won, 419,374 won and 757,379 won is given to the borrower at age 65, 75 and 85 respectively with 100,000,000 won value farmland. Second, policy considerations which are necessary for the successful launch of FRM, and restructuring of rural area after launching FRM were discussed. Three policy considerations were proposed. First is about the integrated asset management system for rural elderly people. Second is about the reasonable settlement of corporate farmers system. And third is about the preparations for rural land use planning.

• KDI Journal of Economic Policy
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• v.26 no.2
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• pp.179-208
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• 2004

With the outbreak of the financial crisis in mid-1997, the Korean government has removed a majority of M&A-related regulations in order to facilitate M&A transactions. This was based upon the belief that M&As are one of the most efficient ways to restructure financially distressed firms compared to other government-driven restructuring programs. In this paper, we try to empirically assess the role of M&A in restructuring distressed firms in Korea following the financial crisis. In doing so, three empirical analyses have been conducted. The first analysis attempts to identify financial characteristics of the insolvent M&A targets. The second exercise directly tests the change in performance of insolvent M&A targets before and after such M&A transactions. The third analysis is a more general assessment on the role of M&A transactions to determine if being involved in an M&A transaction (regardless of its motivate) has reduced the probability of becoming insolvent in the future. Overall, we find some evidence supporting that M&A activities after the financial crisis have played a positive role in restructuring financially distressed firms in Korea.

• Proceedings of the CALSEC Conference
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• 1998.10a
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• pp.27-43
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• 1998

Recently, most corporations in Korea need to construct new management system for overcoming economic crisis. Firstly, this paper suggests “Value Creation system”. Secondly, this paper suggests CALS as strategic substitute to achieve market efficiency, capital efficiency, personal efficiency, and operation efficiency, which are four critical factors of “Value Creation system”. Korean corporations should build new business model founded on cooperation by completing CALS system and reconstruct competitive management system by using knowledge and know-how accumulated in that process. Because most corporations keep exclusive corporate culture and little experience of cooperative relationship among businesses, strategic approaches are essential for construction of CALS. These are vertical integration, organization of CALS construction teams, concurrent development of product/process, CEO's iron will, Precise vision and strategies, and education/training of participant.

• ETRI Journal
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• v.25 no.4
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• pp.258-265
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• 2003

In our study, we extracted the market, finance, and government factors determining R&D investment of individual firms in the IT industry in Korea. We collected the financial data of 515 individual firms belonging to IT and non-IT industries between 1980 and 1999 from the Korea Investors Service's database and investigated the empirical relationship between the factors using an ordinary regression model, a fixed effects model, and a random effects model. The main findings of our study are as follows: i) The Herfindahl Index variable representing the degree of market concentration is statistically insignificant in explaining R&D expenditures in the IT manufacturing industry. ii) Assets, which is used as a proxy variable for firm size, have a positive and statistically significant coefficient. These two results suggest that the Schumpeterian Hypothesis may be only partially applied to the IT manufacturing industry in Korea. iii) The dividend variable has a negative value and is statistically significant, indicating that a tendency of high dividends can restrict the internal cash flow for R&D investment. iv) The sales variable representing growth potential shows a positive coefficient. v) The subsidy as a proxy variable for governmental R&D promotion policies is positively correlated with R&D expenditure. This suggests that government policy has played a significant role in promoting R&D activities of IT firms in Korea since 1980. vi) Using a dummy variable, we verified that firms reduced their R&D investments to secure sufficient liquidity under the restructuring pressure during Korea's 1998 and 1999 economic crisis.

• The Journal of the Convergence on Culture Technology
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• v.10 no.2
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• pp.245-255
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• 2024

This study will look at various implications of China's resumption of trade with Korea, such as trade restructuring, changes in trade policies and the impact on corporate competitiveness, and how the two countries resolved trade disputes. We will evaluate the evolution of trade between China and Korea from a historical and economic perspective, analyze how policy changes have shaped corporate strategies, and discuss how these changes have affected both countries' positions in the global economy. Through this study, we aim to provide a deeper understanding of regional economic cooperation and global economic governance and insight into future policy decisions.

• Journal of the Korean association of regional geographers
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• v.7 no.2
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• pp.17-34
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• 2001

This paper is to analyze how firms in a large firm-led industrial city have carried out the restructuring in the face of radical shifts, with focus on the strategy and the restructuring of firms in Ulsan, a typical industrial district in Korea that is specialized in heavy & chemical industry. It has been well known that the local economy has been led by a small number of large firms, including affiliates of chaebol, and its industrial structure has also been characterised as a clear dichotomy between large firms as a customer and small and medium-size firms as a supplier, which can be called not horizontal but vertical relations. It can identify some tendencies, however, that local companies have been rather dynamically changing in response to increasingly turbulent environment since the Asian crisis. Some are radical, but some incremental. These can be summarized in four distinctive but interlinked ways. First, more than half of local companies surveyed have attempted to change their production systems, mainly from the fordist mass production towards the flexible mass production, seeking both economies of scale and scope. Second, local firms have vigorously continued to reorganize the boundary of the production and the organization, by specializing products and focusing on the core competence in order to save costs and cope with radically changing customer demands in a flexible way. Third, there have been various strategies for the organizational innovation such as the introduction of team organization, the boundary blurring between the managerial and production workers and the intra-firm spin-offs, so as to improve managerial efficiency and competence in the use of internal labour market. Finally, they have tried to be more sensitive to the market and customers. These tendencies seem to be increasingly critical to sustain their competitiveness. To do so, they tend to focus increasingly not only on the competing via the product quality rather than through price, but also to seek to diversify the market and customer firms beyond national boundary.