• Journal of the Korea Academia-Industrial cooperation Society
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• v.20 no.11
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• pp.436-445
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• 2019

This study quantitatively evaluates the economic value of an intelligent crime-zero testbed by using the contingent valuation method (CVM), which is the most effective for non-market valuations in fields like crime prevention. To minimize hypothetical convenience and increase respondents' awareness regarding the actual situation, an analysis was conducted for Indukwon District, Anyang City, Gyeonggi-do, by using the intelligent crime prevention technologies and solutions being developed by the KICT Research Center. This analysis was aimed at providing a systematic basis for determining the feasibility of crime prevention-related public projects. As a result, the WTP of Anyang citizens in the intelligent crime prevention demonstration district was estimated to be 7,160 won. The analysis shows that the area of Gwanyang 2, where the test bed belongs, has a high economic value of KRW 660 million per year, and KRW 51.4 billion per year when expanded to Anyang City. This study is significant in that it provides the first domestic evaluation of the crime-zero testbed. In addition, it has academic and practical value for a future-oriented service model by using intelligent crime prevention technologies and solutions that can be applied in real life and to the crime-zero testbed.

• Journal of the Korean Society of Marine Environment & Safety
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• v.24 no.2
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• pp.215-222
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• 2018

This study aims to compare and analyze the quality of life of residents between those living in coastal and non-coastal areas. The indicators for the quality of life were divided into three different sectors. First, the economic sector observed the rate of population growth, the number of businesses per 1000 people, the employment and unemployment rate. The second was the environmental sector, which included the number of car registrations per capita, water supply and sewer service ratio, the urban park composition area per 1000 people and the road pavement rate. Thirdly, the social sector comprising data about the number of students per teacher, the number of sickbeds in medical institutions per 1000 people, the rate of traffic accidents per 1000 cars and the portion of social welfare budget in general accounting. The analysis method of standardized indicators and T-Test were carried out in 24 coastal cities and 51 non-coastal cities across the country. Results of the indicator comparison suggested there were significant differences in the number of businesses per 1000 people, the road pavement rate and the rate of traffic accidents per 1000 cars. From the results of each sector comparison, the coastal cities showed a higher value than non-coastal cities only in the economic sector. The quality of life comparison showed that coastal cities were better than non-coastal cities but were not statistically significant.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.17 no.8
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• pp.502-507
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• 2016

The transition from a carbon economy based on fossil fuels to a hydrogen economy is necessary to ensure energy security and to combat climate change. In order to pursue the transition to a hydrogen economy while achieving sustainable economic growth, a preliminary study into the establishment of the necessary infrastructure for the future hydrogen economy needs to be carried out. This study addresses the economic and environmental interactions in a dynamic computable general equilibrium (CGE) model focusing on the economic effects of the introduction of renewable energy into the Korean energy system. Firstly, the introduction of hydrogen results in an increase in the investment in hydrogen production and the reduction of the production cost, ultimately leading to GDP growth. Secondly, the mandatory introduction of renewable energy and associated government subsidies bring about a reduction in total demand. Additionally, the mandatory introduction of hydrogen energy into the power sector helps to reduce CO2 emissions through the transition from a carbon economy-based on fossil energy to a hydrogen economy. This means that hydrogen energy needs to come from non-fossil fuel sources in order for greenhouse gases to be effectively reduced. Therefore, it seems necessary for policy support to be strengthened substantially and for additional studies to be conducted into the production of hydrogen energy from renewable sources.

• Journal of the Economic Geographical Society of Korea
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• v.20 no.2
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• pp.214-227
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• 2017

There is an increasing attention by scholars and policy makers that university campus can be the key space for the location of high-tech companies and research facilities as well as the promotion of university-industry collaboration activities. There is a tendency that science parks in the UK have a close connection with neighboring universities on the basis of university-industry collaboration activities. Moreover, the role and importance of the university in the evolution process of science parks has been rapidly increased since the 1990's. Recently, the UK government started to push ahead with the university enterprise zone programme, as a new type of enterprise zone, in order to promote university-industry collaboration and local economic development. In this regard, the Korean government also needs to pay attention to the new role of universities, especially universities located in non-capital areas, for not only strengthening the competitiveness of universities, but also fostering regional and national economic development.

• Journal of the Korean Regional Science Association
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• v.38 no.3
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• pp.51-63
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• 2022

COVID-19 has had a detrimental effect on urban vibrancy, particularly in urban commercial districts. Against this backdrop, the goal of this study is to examine the changes in social and economic vitality in Seoul's commercial area before and after the COVID-19 outbreak, and to identify influential factors for the changes in vitality using multinomial logistic analysis. The following are the key findings derived from the study. First, an examination of the changes in the vitality of commercial districts by type revealed that the decline in economic vitality was greater than the decline in social vitality. Second, the greater the residential ratio, the less harmful the impact of COVID-19 on urban vibrancy. Third, unlike other types of commercial districts, traditional markets had a minor increase in credit card sales even though the floating population fell during the COVID-19 pandemic. Fourth, the accessibility of the subway did not play a positive role in reversing the decline in social and economic vitality caused by the pandemic in the commercial district of Seoul; rather, the accessibility of private automobiles contributed to the increase in social and economic vitality. These results imply that the development and activation of commercial areas accessible by non-motorized modes in the residential neighborhood are becoming crucial in the post pandemic era.

• Journal of Navigation and Port Research
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• v.44 no.1
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• pp.44-52
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• 2020

More accurate forecasting of port cargo in the global long-term recession is critical for the implementation of port policy. In this study, the Busan Port container volume (export cargo and transshipment cargo) was estimated using the Vector Autoregressive (VAR) model and the vector error correction (VEC) model considering the causal relationship between the economic scale (GDP) of Korea, China, and the U.S. as well as ARIMA, a single volume model. The measurement data was the monthly volume of container shipments at the Busan port J anuary 2014-August 2019. According to the analysis, the time series of import and export volume was estimated by VAR because it was relatively stable, and transshipment cargo was non-stationary, but it has cointegration relationship (long-term equilibrium) with economic scale, interest rate, and economic fluctuation, so estimated by the VEC model. The estimation results show that ARIMA is superior in the stationary time-series data (local cargo) and transshipment cargo with a trend are more predictable in estimating by the multivariate model, the VEC model. Import-export cargo, in particular, is closely related to the size of our country's economy, and transshipment cargo is closely related to the size of the Chinese and American economies. It also suggests a strategy to increase transshipment cargo as the size of China's economy appears to be closer than that of the U.S.

• Journal of Korea Technology Innovation Society
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• v.10 no.1
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• pp.47-72
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• 2007

Ideas do not become exhausted, and there are no diminishing returns in the creation of knowledge. Nonetheless, growth ultimately ceases in this simplest model of endogeneous innovation. The reasons are similar to those that are discussed in the context of the neoclassical model of capital accumulation. Even if the resource cost of creating new goods does not rise, the economic return to invention may decline as the number of available products increases. When the rate of return to R&D falls to the level of the discount rate, private agents cease to be willing to defer consumption in order to invest in product development. But, if we treat knowledge capital as a public capital considering of its non-appropriable benefits, economic growth can be sustained in the economy. Romer(1986) has pointed out that growth might be sustainable if the accumulation of knowledge is not subject to long-run diminishing returns. Actually Romer assumed diminishing returns in the production of private knowledge from available resources, but increasing returns in the production of output from labor and total (public and private) knowledge. His condition for the sustainability of long-run growth amounts to an assumption that the diminishing returns in the former activity do not outweigh the increasing returns in the latter. The Johansen(1988) cointegration test method is used for finding long-run equilibrium relationship between R&D input and the product innovation. Test results indicate the existence of cointegrating equation between each pair of regression variables including dependent variable in the knowledge production function. And, the signs of cointegrating vectors are well accord to the prediction of sustainable growth. In the empirical analysis, from all cases of the form for the knowledge production function, we could not reject the null hypothesis that R&D spillover effect is significant($H_{0}:\;{\gamma}=1$). In summary, we showed that considering goodness of fit of regression model, we can see that the empirical evidence is strongly in favor of the character of knowledge as the public knowledge capital. So, we can expect that by product innovation, economic growth can be sustained in the Korean economy.

• Journal of Distribution Science
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• v.13 no.5
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• pp.71-82
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• 2015

Purpose - The purpose of this study is to investigate risk price implied from the pricing kernel of Korean stock distribution market. Recently, it is considered that the quantitative easing programs of major developed countries are contributing to a reduction in global uncertainty caused by the 2007~2009 financial crisis. If true, the risk premium as compensation for global systemic risk or economic uncertainty should show a decrease. We examine whether the risk price in the Korean stock distribution market has declined in recent years, and attempt to provide practical implications for investors to manage their portfolios more efficiently, as well as academic implications. Research design, data and methodology - To estimate the risk price, we adopt a non-parametric method; the minimum norm pricing kernel method under the LOP (Law of One Price) constraint. For the estimation, we use 17 industry sorted portfolios provided by the KRX (Korea Exchange). Additionally, the monthly returns of the 17 industry sorted portfolios, from July 2000 to June 2014, are utilized as data samples. We set 120 months (10 years) as the estimation window, and estimate the risk prices from July 2010 to June 2014 by month. Moreover, we analyze correlation between any of the two industry portfolios within the 17 industry portfolios to suggest further economic implications of the risk price we estimate. Results - According to our results, the risk price in the Korean stock distribution market shows a decline over the period of July 2010 to June 2014 with statistical significance. During the period of the declining risk price, the average correlation level between any of the two industry portfolios also shows a decrease, whereas the standard deviation of the average correlation shows an increase. The results imply that the amount of systematic risk in the Korea stock distribution market has decreased, whereas the amount of industry-specific risk has increased. It is one of the well known empirical results that correlation and uncertainty are positively correlated, therefore, the declining correlation may be the result of decreased global economic uncertainty. Meanwhile, less asset correlation enables investors to build portfolios with less systematic risk, therefore the investors require lower risk premiums for the efficient portfolio, resulting in the declining risk price. Conclusions - Our results may provide evidence of reduction in global systemic risk or economic uncertainty in the Korean stock distribution market. However, to defend the argument, further analysis should be done. For instance, the change of global uncertainty could be measured with funding costs in the global money market; subsequently, the relation between global uncertainty and the price of risk might be directly observable. In addition, as time goes by, observations of the risk price could be extended, enabling us to confirm the relation between the global uncertainty and the effect of quantitative easing. These topics are beyond our scope here, therefore we reserve them for future research.

• Korean Journal of Social Welfare Studies
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• v.48 no.4
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• pp.157-185
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• 2017

This study aimed to explore the trajectories of economic preparations for the aging among people with physical disabilities and to identify the determinants according to the Andersen model. For this study, data were drawn from Panel Survey of Employment for the Disabled (PSED). A total of 1,847 samples were used from the second to the eighth wave. Latent class growth model was conducted to explore the longitudinal change classes for the disabled, and the multinominal logistic regression analysis was conducted to examine the influence of the determinants. As a result, four classes were identified: preparation decrease group, continuous non-preparation group, preparation increase group, and continuous preparation group. Each group was found to be associated deferentially with education level, family income, socioeconomic status, employment, home ownership, national basic livelihood security recipient status, and ADL. These findings proposed the practical and political implications for the strategies concerned with facilitating the economic preparations for the aging among the disabled.

• Journal of Korea Game Society
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• v.9 no.2
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• pp.81-93
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• 2009

This study aims to investigate human capital in Korea's online game industry (as the representative of IT-based creative services) under the knowledge-based economy paradigm. In recognition of the importance of intellectual capital closely intertwined with human capital and the economic potential of the online game industry, Korean government has begun to show active support. In this context, this study measures the human capital efficiency in online game business by using non-parametric analysis (Data Envelopment Analysis, DEA). Most previous studies (human capital theory, knowledge based economy theory, economic growth theory) have proved that human capital has a very positive effect on sustainable growth of corporate management and wealth of nations. As such, this paper uses the DEA to obtain the efficiency of the human capital (scale, investment, education, compensation). The results of this study will suggest strategic implications on maximizing the human capital in online game corporations and provide a reference frame for government policies.