• Asian-Australasian Journal of Animal Sciences
• /
• v.26 no.2
• /
• pp.151-156
• /
• 2013

Hanwoo (Also known as Korean native cattle; Bos taurus coreanae) have been used for transportation and farming for a long time in South Korea. It has been about 30 yrs since Hanwoo improvement began in earnest as beef cattle for meat yield. The purpose of this study was to determine the trend of improvement as well as to estimate genetic parameters of the traits being used for seedstock selection based on the data collected from the past. Hanwoo proven bulls in South Korea are currently selected through performance and progeny tests. National Hanwoo genetic evaluations are implemented with yearling weight (YW), carcass weight (CW), eye muscle area (EMA), backfat thickness (BF) and marbling score (MS). Yearling weights and MS are used for selecting young bulls, and EMA, BF, and MS are used for selecting proven bulls. One individual per testing room was used for performance tests, and five individuals per room for progeny tests. Individuals tested were not allowed to graze pasture, but there was enough space for them to move around in the testing room. Feeds including roughages and minerals were fed ad libitum, and concentrates were provided at the rate of about 1.8% of individual weight. Overall means of the traits were $352.8{\pm}38.56$ kg, $335.09{\pm}44.61$ kg, $77.85{\pm}8.838\;cm^2$, $8.6{\pm}3.7$ mm and $3.293{\pm}1.648$ for YW, CW, EMA, BF and MS. Heritabilities estimated in this study were 0.30, 0.30, 0.42, 0.50 and 0.63 in YW, CW, EMA, BF and MS, respectively, which are similar to results from previous research. Yearling weight was 315.54 kg in 1998, and had increased to 355.06 kg in 2011, resulting in about 40 kg of improvement over 13 yrs. YW and CW have improved remarkably over the past 15 yrs. Breeding values between 1996 and 2000 decreased or did not change much, but have moved in a desirable direction since 2001. These improvements correspond with the substantial increase in use of animal models since the late 1990s in Korea. Hanwoo testing programs have practically contributed to the improvement in aspects of quality and quantity. In sum, the current selection system is good enough to accommodate circumstances where fewer sires are used on many more cows. Although progeny tests take longer and cost more, they seem to be appropriate under the circumstances of the domestic market with its higher requirement for better meat quality. Consequently, accumulative data collection, genetic evaluation model development, revision of selection indices, as well as cooperation among farms, associations, National Agricultural Cooperative Federation, universities, research institutes, and government agencies must be applied to the Hanwoo selection program. All these efforts will assist the domestic market to secure a competitive position against imported beef under Free Trade Agreement trade system and will provide farmers with higher profits as well as the public with a higher quality of beef.

• KSCE Journal of Civil and Environmental Engineering Research
• /
• v.35 no.6
• /
• pp.1431-1438
• /
• 2015

According to the report from OECD, 80% of world trade quantity was influenced by standard, 50% of EU trade demand certification of forced standard. This leads to develop standard connected with R&D in most country and company worldwide. Recently, Technical standards have advantage of reduction of production cost and market dominating power. Standardization of construction technology has very important role that ouput of R&D refer to KS, national construction standards and it activates in the market. However, domestic construction research related to effectiveness of standadization fall short of expectation in comparison with manufacturing industry. This study present criteria that can analyze the performance and effectiveness in construction R&D project connected with standardization. And it applied domestic R&D cases (finished from 2000 to 2009), analyzes ouput of standadization and economic effect to verify the value of construcion technology standardization.

• Journal of the Korea Academia-Industrial cooperation Society
• /
• v.18 no.6
• /
• pp.110-118
• /
• 2017

This study investigated empirically one of the controversial subjects in modern finance, in that there is an optimal level of capital structure for KOSPI-listed firms in the Korean capital market. Given the major theories on the capital structure, such as Myers' pecking order, trade-off, and agency cost ones, this study applied an analysis of covariance models in parametric and non-parametric statistical methods. In particular, two covariates to control for the possible effects of trade-off and agency cost, were employed separately in each corresponding model, while the other proxy for pecking order rationale was adopted in previous research [1] to conduct inter- and intra-industry analyses. Based on the outcomes obtained from the study, it was demonstrated empirically that there are optimal capital structures for firms in the sample industries at the inter-industry level, whereas statistical differences indicating non-existence of an optimal point, were revealed within the industry. Accordingly, these findings suggest a new vision to potential investors that firms in the domestic market may have financial opportunities to increase their value by gradually adjusting the leverage ratios in terms of the intra-industry perspective.

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

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

• Journal of Korea Entertainment Industry Association
• /
• v.13 no.5
• /
• pp.47-57
• /
• 2019

New product innovation is a key component of a company's survival and sustained growth. With the rapidly changing market environment and global infinite competition, The importance of innovative new product development is growing. In the domestic entertainment industry, Competition is intensifying, and many companies are focusing on developing innovative new products in order to secure continuous competitive advantage in the era of global infinite competition. The problem is that as the intensity of competition increases and the idol production system develops more and more, The costs of planning and marketing are increasing. The fair trade commission estimated the cost of creating an idol group to be about 1 billion won, and some large entertainment companies claim that the investment cost is about 20 ~ 3 billion won. Lean startup is attracting attention as an innovation framework for sustainable competitive advantage of companies. But, there are not many related studies in Korea despite the growing interest. In particular, Case studies that can help to establish specific strategies are limited. Therefore, this study analyzed the successful case of JYP Entertainment's idol singer TWICE who succeeded in new product innovation and suggested practical implications. Theoretically, This study extended the Lean startup to the entertainment industry and suggested practical implications as the basic data for establishing the innovation strategies for the idol singers of domestic entertainment companies.

• Journal of Distribution Science
• /
• v.8 no.3
• /
• pp.17-26
• /
• 2010

Recently concerns have been raised due to the unbalanced supply of crops: the price of crops has been unstable and at one point the price went up so high that the word Agflation(agriculture+ inflation) was coined. Korea, in particular, is a small-sized country and needs to secure the stable supply of crops by investing in the produce importation at a national level. Investment in foreign produce importation is becoming more important as a measure for sufficient supply of crops, limited supply of domestic crops, weakened farming conditions worldwide, as well as recent changes in the use of crops due to the development of bio-fuels, influence of carbon emission on crops, the price increase in crops, and influx of foreign hot money. However, there are many problems with investing in foreign produce importation: lack of support from the government; lack of farming information and technology; difficulty in securing the capital; no immediate pay-off from the investment and insufficient management. Although foreign produce is originally more price-competitive than domestic produce, it loses its competiveness in the process of importation (due to high tariffs) and poor distribution system, which makes it difficult to sell in Korea. Therefore, investment in foreign produce importation is being questioned for feasibility; to make it possible, foreign produce must maintain the price-competitiveness. Especially, harvest of agricultural products depends on natural and geographical conditions of each country and those products have indigenous properties, so distribution system according to import and export of agricultural products should be treated more carefully than that of other industries. Distribution costs are differentiated into each item and include cost of sorting and wrapping, cost of wrapping materials, cost of domestic transport, cost of international transport and cost of clearing customs for import and export. So transporting and storing agricultural products generates considerable costs compared with other products. Also, due to upgrade of dietary life, needs for stability, taste and visible quality toward food including agricultural products are being raised and wrong way of storage causes decomposition of food and loss of freshness, making the storage more difficult than that in room temperature, so storage and transport in distribution of agricultural products needs specialty. In addition, because lack of specialty in distribution and circulation such as storage and wrapping does not solve limit factors in distance, the distribution and circulation has been limited to a form of import and export within short-distant region. Therefore, need for distribution out-sourcing which can satisfy specialty in managing distribution and circulation and it is needed to establish more effective distribution system. However, existing distribution system of agricultural products is exposed to various problems including problems in distribution channel, making distribution and strategy for distribution and those problems are as follows. First, in case of investment in overseas agricultural industry, stable supply of the products is difficult because areas of production are dispersed widely and influenced by outer factors due to including overseas distribution channels. Also, at the aspect of quality, standardization of products is difficult, distribution system is quite complicated and unreasonable due to long distribution channels according to international trade and financial and institutional support is not enough. Especially, there are quite a lot of ineffective factors including multi level distribution process, dramatic gap between production cost and customer's cost, lack of physical distribution facilities and difficulties in storage and transport due to lack of wrapping containers. Besides, because import and export of agricultural products has been manages under the company's own distribution according to transaction contract between manufacturers and exporting company, efficiency is low due to excessive investment in fixed costs and lack of specialty in dealing with agricultural products causes fall of value of products, showing the limit to lose price-competitiveness. Especially, because lack of specialty in distribution and circulation such as storage and wrapping does not solve limit factors in distance, the distribution and circulation has been limited to a form of import and export within short-distant region. Therefore, need for distribution out-sourcing which can satisfy specialty in managing distribution and circulation and it is needed to establish more effective distribution system. Second, among tangible and intangible services which promote the efficiency of the whole distribution, a function building distribution environment which includes distribution information, system for standard and inspection, distribution finance, system for diversification of risks, education and training, distribution administration and tax system is wanted. In general, such a function building distribution environment is difficult to be changed and supplement innovatively because its effect compared with investment does not appear immediately despite of its necessity. Especially, in case of distribution of agricultural products, as a function of collecting and distributing is performed individually through various channels, the importance of distribution information and standardization is getting more focus due to the problem of repetition of work and lack of specialty. Also, efficient management of distribution is quite difficult due to lack of professionals in distribution, so support to professional education is needed. Third, though effort to keep self-sufficiency ratio of staple food, rice is regarded as important at the government level, level of dependency on overseas of others crops is high. Therefore, plan for stable securing food resources aside from staple food is also necessary. Especially, governmental organizations of agricultural products distribution in Korea are production-centered and have unreasonable structure whose function at the aspect of distribution and consumption is quite insufficient. And development of new distribution channels which can deal with changes in distribution environment and they do not achieve actual results of strategy for distribution due to non-positive strategy for price distribution. That is, it implies the possibility that base for supply will become vulnerable because it does not mediate appropriate interests on total distribution channels such as manufacturers, wholesale dealers and vendors by emphasizing consumer protection excessively in the distribution of agricultural products. Therefore, this study examined fundamental concept and actual situation for our investment to overseas agriculture, drew necessities, considerations, problems, etc. of overseas agricultural investment and suggested improvements at the level of distribution for price competitiveness of agricultural products cultivated in overseas under five aspects; government's indirect support, distribution's modernization and distribution information function's strengthening, government's political support for distribution facility, transportation route, load and unloading works' improvement, price competitiveness' securing, professional manpower's cultivation by education and training, etc. Here are some suggestions for foreign produce importation. First, the government should conduct a survey on the current distribution channels and analyze the situation to establish a measure for long-term development plans. By providing each agricultural area with a guideline for planning appropriate production of crops, the government can help farmers be ready for importation, and prevent them from producing same crops all at the same time. Government can sign an MOU with the foreign government and promote the importation so that the development of agricultural resources can be stable and steady. Second, the government can establish a strategy for an effective distribution system by providing farmers and agriculture-related workers with the distribution information such as price, production, demand, market structure and location, feature of each crop, and etc. In order for such distribution system to become feasible, the government needs to reconstruct the current distribution system, designate a public organization for providing distribution information and set the criteria for level of produce quality, trade units, and package units. Third, the government should provide financial support and a policy to seek an efficient distribution channel for foreign produce to be delivered fresh: the government should expand distribution facilities (for selecting, packaging, storing, and processing) and transportation vehicles while modernizing old facilities. There should be another policy to improve the efficiency of unloading, and to lower the cost of distribution. Fourth, it is necessary to enact a new law covering exceptional cases for importing produce in order to maintain the price competitiveness; currently the high tariffs is keeping the imported produce from being distributed domestically. However, the new adjustment should be made carefully within the WTO regulations since it can create a problem from giving preferential tariffs. The government can also simplify the distribution channels in order to reduce the cost in the distribution process. Fifth, the government should educate distributors to raise the efficiency and to modernize the distribution system. It is necessary to develop human resources by educating people regarding the foreign agricultural environment, the produce quality, management skills, and by introducing some successful cases in advanced countries.

• The Journal of Industrial Distribution & Business
• /
• v.2 no.2
• /
• pp.15-24
• /
• 2011

Modern enterprises should concentrate their efforts on continuous improvements in focusing their development in the core areas of business and to reduce their expenses and to enhance the quality of service for customers. The enterprises should focus on their core business while outsourcing the non-core areas of business to external specialists for the purpose of reducing cost. In South Korea, the enterprises are becoming increasingly interested in outsourcing their logistics function, especially in using IT technologies to the 3PL. The underlying reason for this trend is because the logistics costs of Korean businesses are much higher than that of other advanced countries. This higher logistic costs weakens the price competitiveness of Korean companies in the overseas export markets and even dampening the balance of international trade. Domestically, the higher logistics costs have the effect of raising prices in the local markets and thus affecting the local economy. Therefore a solution is urgently needed to save the logistics costs for the Korean companies in the interest of increasing national competitiveness. Outsourcing to the 3PL is becoming an attraction solution to this problem. Thanks to the increasing supply of professional logistics companies, many of the enterprises are switching to the Third Party Logistics. Nevertheless the enterprises do not yet utilize the integrated third-party logistics services on a full scale. This study analyzes present conditions and problems of the domestic third-party logistics market and suggests directions for future development. To solve the problems in the domestic third-party logistics market, four actions are recommended. First there should be new supporting policies in the laws and regulations and a system for small and medium sized companies to grow. Solutions to structural problems such as abnormal multilevel merchandising, illegal operation of private cars, and freight dumping should be implemented concurrently. Furthermore, standards for new companies entry into the market should be enhanced to allow only the competitive distribution companies to enter the market. Second, development of variety of educational programs is needed through establishing human-resource development system and specialized formal educational institution focused on this market. Third, the third party distribution companies, which seek long-term relationships with the owners of goods, should endeavor to strengthen their communications capability. Fourth, adoption of high-tech distribution system and the advent of U-Logistics, making use of RFID is urgent. This study has the limitation of objectivity because it does not include various comparative case studies about companies relating to the Third Party Logistics and domestic franchise companies. However, this study is significant to the extent that it analyzes the general present conditions and the problems of domestic Third Party Logistics and suggests recommendations for revitalization of Third Party Logistics. For future studies, analyzing the successful cases of international third party logistics companies' empirical data and studying the application into domestic franchise companies would improve the objectivity of the results. This would assist the domestic third party logistics companies not only to perform excellent domestic logistics function but also to enter into the global market for international logistics.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
• /
• v.16
• /
• pp.183-203
• /
• 2001

To accomplish international electronic commerce via the Internet, the most serious dilemma is the international payment system. The BBL is a secure and effective electronic commerce framework for the replacement of traditional paper documents by electronic messages via the Internet providing significant benefits in terms of cost savings, improved logistics and reduced errors in documentation. The most important legal obstacles in the BBL are how to secure authenticity, non-repudiation and message integrity as well as the status of negotiability equivalent to paper B/L. These kinds of functions may be carried out through the electronic title registry of the Bolero International Limited. The technical structure is supported contractually by the Bolero Rulebook. And other documents except B/L can be made out without any legal or technical problems. What are the handicaps of the BBL in its practical use at this time? I can summarize the current and expected problems as follows: First, the fee to join Bolero Association Limited is burdensome to sellers, buyers and trade related organizations all over the world. Second, the liability in errors or defaults in operating central data registry of Bolero International Limited is limited to U.S.$100,000. The amount is not sufficient to the many bulk cargo owners to cover the damages. Third, businessmen are used to traditional paper documents; therefore it takes much time for them to change their customs and practices. So the BBL and traditional papers would be used simultaneously for the time being. Finally, it is very important to incorporate the Rulebook, a multilateral contract binding on all users signed, in each domestic law, which will accomplish the uniform law basis.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
• /
• v.40
• /
• pp.3-30
• /
• 2008

This article attempts to describe and analyze the rules on the buyer's remedies for lack of conformity under PELS. It shows that such remedies under the PELS operate in a two-tier remedial scheme which is alien to both domestic and international legal systems. That is, repair and replacement take the position of primary remedy, whereas termination, price reduction and damages are secondary remedies which are available only where the primary remedies cannot be invoked. Notwithstanding its superiority, the PELS have some drawbacks in several aspects. First, the PELS seems to place its focus on the factor of cost except the other factors, for instance, the significance of the lack of conformity, when one decides whether the first tier remedies cause the seller unreasonable effort or expense. It is argued that the factors can be considered by referring to art. 1:302 PECL. Second, the PELS does not expressively provide any exclusion of the seller's right to choose between repair or replacement on the basis of unreasonable uncertainty in reimbursing the expenses advanced by the buyer. It argues that if there is such uncertainty, it should be regarded as causing the buyer an unreasonable inconvenience under art. 4:204(1). Third, the PELS does not seem to properly reflect the consumer's interests in that most consumers prefer to have the absolute right of termination as against the commercial sellers who have a relatively stronger bargaining position. The reasons for that is that there is a big hurdle, i.e., a hierarchy of remedies, to be overcome by the consumer to battle with the commercial seller, and that unavoidable vagueness in defining a minor lack of conformity has been often used against the consumer, but in favour of the commercial seller with a strong bargaining position.