• Title/Summary/Keyword: Economic downturn

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Characteristics and recent changes of the Hanbok industrial cluster in Gwangju, Korea (광주 한복산업 집적지의 특성과 최근 변화)

  • Heo, Seung-Yeun;An, Myung-Sook
    • Journal of the Korea Fashion and Costume Design Association
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    • v.21 no.3
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    • pp.161-172
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    • 2019
  • This study examines the characteristics and recent changes of the Hanbok industrial cluster in Gwangju Metropolitan City, in order to understand the problems in the activation of the Hanbok industry and to seek future policies. A total 32 companies comprise the 'Small Manufacturer Specialized Support Center of Hanbok' and were surveyed with a 41 questions with questions in four categories. The Gwangju Hanbok area has been in existence for more than 40 years and was composed of small groups of one or two manufacturers. They are experiencing the same difficulties as other Hanbok clusters, such as the aging of workers, the downturn of dress culture, and changing consumption paradigms. However, since 2015, various efforts have been made in order to seek countermeasures to cope with such difficulties, particularly with the foundation of the 'Small Manufacturer Specialized Support Center of Hanbok' with the support of the Ministry of Small Venture Business. This study focuses on the alterations in the current Hanbok industry due to the IT industrialization as well as the changes in the locations of the Hanbok clusters due to the revitalization of old towns by local governments., The results providing an opportunity to appreciate the problems therein and seek the solutions. Small manufacturers of the Hanbok cluster are trying to improve their entrepreneurship, digital technology application, and knowledge in accordance with the socio-economic trends, but they have limitations to practically apply it to business, barely keeping the minimum production base. The central government and the Gwangju should reinforce and expand the support for marketing and public relations for the Hanbok to foster the designer population, to establish mutual brands, to raise brand awareness, and to promote the technological perfection of the individual businesses, to allow them to cope with the current market trends, in order for the technological development and firm settlement of the local Hanbok industrial cluster.

A Study on the Effects That SMEs' Response to Non-Tariff Barriers Exerts on Export Performance: Focusing on Technical Barriers to Trade

  • Joo, Se-Hwan;Lee, Jae-Sung
    • Journal of Korea Trade
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    • v.25 no.6
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    • pp.105-125
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    • 2021
  • Purpose - This study analyzes the effects that the response to the technical barriers to trade (TBT), which are used by various countries as means to restrict imports, exerts on exports at a time when protectionism is emerging in the face of a global economic downturn. TBT has been widely used in developed countries for the safety and protection of their people. Recently, the use of TBT as a tool of protectionism has increased considerably in developing countries as well. Therefore, this study analyzes the South Korean SMEs' response and export performance. Design/methodology - To analyze SMEs' response to TBT and their export performance, this study conducted empirical analysis through statistical analysis. To this end, the research established a theory based on previous research and designed its hypothesis and research model. To verify the hypothesis and research model, factor analysis addressing validity and reliability was performed using SPSS 25 and AMOS 26, and the structural equation model was analyzed. Findings - This study found the causal relationship between the independent variable, the mediating variable, and the dependent variable adopted against the theoretical background to have little or no effect, in contrast with previous studies. In a break from previous studies, all hypotheses were rejected for innovation strategic competencies, one of the sub-factors of the independent variable, which is believed to be a result of the lack of practical research related to TBT. Originality/value - Previous studies performed analysis using trade statistics or macro data. A number of such studies analyzed the relationship between technical regulation and trade volume. This study differs from previous studies in some respects, because it analyzed the export performance of companies by establishing a hypothesis and implementing a research model with the factors analyzed in previous studies. In addition, a new attempt has been made by classifying the TBT response factors into technology competencies, human resource competencies, and innovation strategic competencies, and utilizing technology innovation and the export support system as mediating effects.

The Direction of the Korean Real Estate STO Market: Focused on MZ Generation (국내 부동산 STO 시장 발전 방향: MZ 세대를 중심으로)

  • Lee, Sangyeon;Son, Yerim;Yang, Hee-Dong
    • Knowledge Management Research
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    • v.23 no.1
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    • pp.27-46
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    • 2022
  • The current era's focus is on the surge in real estate prices triggered by the global economic downturn. This study advocated STO-based dispersed investment for the MZ generation, who has less capital than earlier generations. Existing real estate investment methods were categorized into online, offline, and hybrid formats and the effectiveness of the suggested STO was given in this study through case analysis domestically and overseas. The entry of STO into the financial industry was positively proved, and the efficacy of blockchain technology was validated, through the investigation of the STO framework. The findings of this study are projected to revitalize the new real estate sector by actively supporting the access of the MZ generation into the current inflexible real estate investment market by the application of blockchain and reflecting MZ generation's investment propensity.

Design of Intelligent Big data Convergence Service to Support Non-store Founders based on Non-face-to-face (무점포 창업자 지원을 위한 비대면 기반의 지능형 빅데이터 융합 서비스 설계)

  • Hyun-Mo Koo;Ji-Yun Hong;Cheol-Soo Kang
    • Journal of Advanced Technology Convergence
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    • v.2 no.2
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    • pp.1-8
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    • 2023
  • Due to the recent long-term economic downturn, the number of non-store and mail-order sellers is increasing as prospective entrepreneurs are concentrated due to the phenomenon of non-store start-ups with low start-up costs. In particular, in addition to unemployed young people and housewives who lack funds, many office workers who wish to have a 'two-job' are jumping into the business. Therefore, in this paper, we have moved away from provider-oriented service platforms that are dependent on specific networks, operators, and service types. In addition, we plan to design a business integration support system that can provide B2B services in the promotional material industry that contributes to business support and profit generation of wholesale and retail non-store entrepreneurs through sharing and participation. The proposed system is judged to be a business integrated operation support system applying orchestration and service management technology and enterprise business partner management technology that can provide stable operation management service.

A Study on the Grotesque Tendency in German Expressionism - Focused on Café Müller (독일 표현주의에 내재된 그로테스크 성향 연구 - 카페 뮐러(Café Müller)를 중심으로)

  • CHOI, Jung Yun
    • Trans-
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    • v.15
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    • pp.105-140
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    • 2023
  • This study aims to investigate the interrelationship between German expressionist dance and grotesque art, with a specific focus on the analysis of Pina Bausch's renowned work, <Café Müller>. German expressionist dance emerged as a response to the social instability and economic downturn that followed World War I, leading to the introduction of expressionism and grotesque aesthetics. The incorporation of grotesque expression in dance plays a critical role in boldly portraying the destruction of the human condition and its underlying causes, thereby offering insights into social contradictions and the erosion of human nature. This research thoroughly explores the intricate connection between German expressionist dance and grotesque expression, providing a comprehensive analysis of Pina Bausch's <Café Müller> to reassess the profound meaning and significance of expressionist dance. Additionally, this study delves into the inherent grotesque tendencies embedded within the work, surpassing conventional notions of visual beauty and ugliness, and strives to reinterpret the essence of grotesque expression through the nuanced movements of the dancers and the integration of auditory elements within the performance.

The Economic Cycle and Contributing Factors to the Operating Profit Ratio of Korean Liner Shipping (경기순환과 우리나라 정기선 해운의 영업이익률 변동 요인)

  • Mok, Ick-soo;Ryoo, Dong-keun
    • Journal of Navigation and Port Research
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    • v.46 no.4
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    • pp.375-384
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    • 2022
  • The shipping industry is cyclically impacted by complex variables such as various economic indicators, social events, and supply and demand. The purpose of this study was to analyze the operating profit of 13 Korean liner companies over 30 years, including the financial crisis of the late 1990s, the global financial crisis of the late 2000s, and the COVID-19 global pandemic. This study was conducted to also identify factors that impacted the profit ratio of Korea's liner shipping companies according to economic conditions. It was divided into ocean-going and short-sea shipping, reflecting the characteristics of liner shipping companies, and was analyzed by hierarchical multiple regression analysis. The time series data are based on the Korean International Financial Reporting Standards (K-IFRS) and comprise seaborne trade volume, fleet evolution, and macroeconomic indicators. The outliers representing the economic downturn due to social events were separately analyzed. As a result of the analysis, the China Container Freight Index (CCFI) positively impacted ocean-going as well as short-sea liner shipping companies. However, the Korean container shipping volume only impacted ocean-going liners positively. Additionally, world and Korea's GDP, world seaborne trade volume, and fuel price are factored in the operating profit of short sea liner shipping. Also, the GDP growth rate of China, exchange rate, and interest rate did not significantly impact both groups. Notably, the operating profitability of Korea's liner shipping shows an exceptionally high rate during the recessions of 1998 and 2020. It is paradoxical, and not correlated with the classical economic indicators. Unlike other studies, this paper focused on the operating profit before financial expenses, considering the complexity as well as difficulty in forecasting the shipping cycle, and rendered conclusions using relatively long-term empirical analysis, including three economic shocks.

Recent Tectonism in the Korean Peninsula and Sea Floor Spreading (한반도(韓半島)의 신기(新期) 지형운동(地穀運動)에 관(關)하여)

  • Park, Byong Kwon;Kim, Suh Woon
    • Economic and Environmental Geology
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    • v.4 no.1
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    • pp.39-43
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    • 1971
  • The Korean Peninsula is located between the tectonically stable Asian Continent and the tectonically active Japanese islands. The east coast of Korea shows evidence of uplift whereas the west coast shows evidence of submergence. However, radiocarbon dates indicate that the rate of submergence of the west coast of Korea is slower than the tectonically stable east coast of North America. Therefore, both east and west coasts of Korea might have been uplifted during the last post-glacial period. This uplift may result the spreading line of the from compressional strain produced along East Sea of Korea (Japan Sea) and/or the conversion hinge line of the Pacific mantle convection current plunging beneath the Asian continent. This downturn is supposed to be located in the Japan Trench. High heat flow near the east coast of Korea produces the differential strain. This strain accelerates the compressional strain of the peninsula. The Sea Floor Spreading Theory can explain the tectonism of the Korean Peninsula in Recent time. Baek-Doo Mt. and Han-Ra Mt., dormant volcanoes, may be an evidence of westward movement of the Korean Peninsula.

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An Analysis on the Economic Impact of ICT Based Innovation within Creative Industries in South Korea (창조산업 내 ICT기반 혁신의 경제적 파급효과 분석)

  • Lee, Youngjoo;Kim, Byungchae;Lee, Yeonwoo
    • Journal of Technology Innovation
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    • v.23 no.3
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    • pp.341-372
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    • 2015
  • While creativity and innovation is the key to drive the creative economy in the South Korea, the development of analysis framework to evaluate the size and performance is limited. The present study suggests a framework and a method to assess economic impact of the creative economy using inter-industry analysis which employs input-output efficiencies populated by the Korean Bank and empirical data from the national informatization survey conducted by the National Information-society Agency(NIA). The results indicated that, as of 2013, despite of economy downturn, the creative innovation based on the information communication technology(ICT) had been significantly led the production, value-added, and employment inducement. The effect is predominant in the creative industry in an broad sense, that is, technology intensive manufacturing industry. Theoretical and policy implications are discussed.

Structural Relationship between Mobile Advertisement Characteristics, Personal Characteristics, Purchasing Attitude and Purchasing Behavior -Focus on Youth Consumers- (모바일 광고특성, 개인특성, 구매태도와 구매행동과의 구조적 관계 -청소년 소비자를 중심으로-)

  • Bae, Jong Seo
    • The Journal of the Korea Contents Association
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    • v.20 no.5
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    • pp.303-317
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    • 2020
  • As the penetration rate of smart phones has spread and functions have been developed variously, a new advertising medium called mobile advertising has emerged. In addition, various mobile advertisements targeting teenagers, where most of their daily lives are conducted using smartphones, have been activated. Adolescents in the modern society called Generation Z have the longest time to use a smartphone among age groups. Even during the economic downturn, adolescent consumers are an important consumer group that can overcome the economic recession, so mobile advertisements targeting their purchasing power are being created like a flood. Therefore, in this study, the influence of mobile advertisement characteristics and personal characteristics on purchasing attitudes for adolescents using smartphones was identified, and how this was linked to purchasing behavior again. To conduct the research, a survey was conducted on 324 high school students using smartphones, and the results are as follows: First, the higher the recognition of convenience in mobile advertising characteristics and brand preferences, the higher the brand preference. Characteristics and brand trust had a positive effect on acceptance as the awareness of convenience, information, and entertainment increased. Third, the influence of adolescents' personal characteristics on purchasing attitudes had a positive effect on brand preferences by pursuit of fashion, pursuit of personality, and practical pursuit. Fourth, as a result of analyzing the relationship between purchase attitude and purchase behavior, it was verified that brand preference and brand trust among purchase attitude have a positive influence on purchase behavior. This study has significance in that it has grasped the influence of mobile advertising on purchasing behavior among teenagers who are rapidly growing as mobile consumers.

Motives for Moonlighting and Its Policy Implications (부업동기분석(副業動機分析)과 그 시사점(示唆點))

  • Park, Jin
    • KDI Journal of Economic Policy
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    • v.14 no.4
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    • pp.107-121
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    • 1992
  • Moonlighting or second-jobs will increase shirking of the primary job. This paper analyzes the motives for moonlighting so that the means of reducing these motives could be explored. The traditional theory claims that a worker who cannot fully realize his work potential will look to moonlighting. In a two-period model, however, the following motives are more important. The precautionary savings motive : A worker has an incentive to save for fear of losing his job and his income in the second period. The worker could save more by working more during the first period, and this additional motive for working is the precautionary savings motive. The insurance motive : When a worker is unemployed, he cannot expand his moonlighting hours according to his needs since the moonlighting hour is upward rigid. Therefore, a worker has an incentive to secure additional moonlighting hours in the first period so that quick adjustment can be made during the unemployment in the second period. Two policy measures to remove those motives for moonlighting are recommended, for these measures will enhance the productivity in the primary job. First, a firm should guarantee that there will be no layoffs in a downturn in the economy and that the employment level is adjusted to the economic states by work sharing among workers. Second, as unemployment insurance benefits compensate a portion of the income in case of unemployment, it substitutes the motives for moonlighting. A generalization of this argument can be found in Ehrlich and Becker(1972) where self-insurance(moonlighting) and market insurance(in this case, unemployment insurance) serves as substitutes. The two policy measures in the above have a spill-over effect : A decrease of labor supply in the moonlighting market will ease job search, and therefore will help those who have their primary job in the moonlighting sector.

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