• Archives of design research
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• v.9
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• pp.1101-1114
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• 1994

As of today-half a century has passed after 1945, the liberation from Japanese imperialism-it's significant to introspect our culture. On the one hand our culture has succeeded due to the peculiar history, but on the other hand it hasn't. So to speak, it has gained in Quantity but lost in Quality. There are keen, international competition and exchange in the modern culture. So the Qualitive success of modern design depends on if it had an original character or not. According to Korean rapid industrialization, technological extence, and economic growth, the export has increased greatly, but package design hasn't been match for them. Korean expoters have been meeting with cutthroat competition in world market. Under these circumstances it's very important that we have a real understand and interest in our culture, we strengthen the competitive power of home products with good package design. This is our age of not home market but world market. We live in an age when design wins, so that we have to develop the good design native to Korea. Many designers have proposed their opinions with the characteristic designs, but it has been only a fragmentary and passive method. We must seek for the new method more positively. The effective and proper method resolves itself into the following four points. First, to understand Korean history and culture. Second, to have the exact grip of this economic situation. Third, to promote the national emotion. Fourth, in conclusion, to accord the package design with them. We cannot put off this task to overcome the cultural subordination, to place Korea on a firm cultural basis in the world, and to contribute to the cultural exchange of package design. First, to understand Korean history and culture. Second, to have the exact grip of this economic situation. Third, to promote the national emotion. Fourth, in conclusion, to accord the package design with them. We cannot put off this task to overcome the cultural subordination, to place Korea on a firm cultural basis in the world, and to contribute to the cultural exchange of package design.

• Journal of Korea Port Economic Association
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• v.25 no.4
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• pp.147-164
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• 2009

The short-term impact of the recent depreciation of Korean Won on the cost of the Korean logistics industry, which was caused by the global liquidity crisis began from the American financial market in 2007, is analyzed through the inter-industry analysis. The input-output data of the 2007 benchmark input-output accounts table which was most recently published by the Bank of Korea in 2009 have been utilized for the analysis. The results show that the cost of the Korean logistics industry as a whole rises 4.24% when the Korean exchange rate is depreciated by 10%. The impact of the depreciation of Korean exchange rate on the cost of the Korean logistics industry for December, 2007 ~ December, 2008 is estimated to be about 31.1 billion Won. If the Korean logistics companies should cover the rising cost of 11.7 billion Won only through sales promotion, then they should sell 1.9 times as much their current sales amount, which means 101.6 billion Won's worth of sales should be made.

• Journal of Korea Trade
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• v.24 no.6
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• pp.1-18
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• 2020

Purpose - This study investigates whether a listing effect exists in cross-border M&As and whether the effect can be attributed to the uncertainty of the GDP growth rate in the target firm's home country. We apply a joint variable analysis using M&A announcement data from the Korea Exchange (KRX), Shanghai Stock Exchange (SSE), and the Taiwan Stock Exchange (TWSE) from 2004 to 2013. We also conduct an event study using the measure of the uncertainty of the GDP growth rate (based on IMF statistics) in 55 target countries. Design/methodology - We measure the abnormal return (AR) using the market-adjusted model. We test the significance of the AR and the cumulative abnormal return (CAR) using a one-sample t-test. We examine the characteristics of the CARs depending on whether the target company is listed by applying a difference analysis using CAR as a test variable. In addition, we set CAR (-5, +5) as a dependent variable to identify the cause of the listing effect, and test both the financial characteristic variables of the acquirer and the collective characteristic variables of the merger as independent variables in the multiple regression analysis. Findings - First, we find the listing effect of cross-border M&As in the KRX, SSE, and TWSE, which represent the capital markets in Korea, China, and Taiwan, respectively. This listing effect persists during the global financial crisis and has a negative effect on the wealth of acquiring shareholders, especially when the target countries are emerging markets. Second, greater uncertainty regarding the target countries' economic growth in cross-border M&As has a negative effect on the wealth of acquiring firms' shareholders. Third, our empirical analysis demonstrates that the listing effect is attributable to the fact that firms listed in a target country with greater uncertainty of economic growth are more directly and greatly exposed to uncertain capital markets through stock markets, than are unlisted firms. Originality/value - This study is significant in that it presents a new strategic perspective in the study of cross-border M&As by demonstrating empirically that the listing effect is attributable to the uncertainty regarding the economic development of the target firms' home countries.

• The Journal of Industrial Distribution & Business
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• v.6 no.2
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• pp.5-11
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• 2015

Purpose - This research investigates the effect of disclosure quality with two main components, reliability and timeliness, on economic value added in Iran. Research design, data, and methodology - The sampling includes 170 Tehran Stock Exchange listed companies from 2008-12. Multiple regression analysis was applied to test the hypotheses and estimates of the coefficients. Firm size and return on assets were the control variables. Results - The results show that timeliness of information has a positive impact on economic value added. We did not find any significant relationship between disclosure quality and reliability of information and economic value added. The regressed model shows that there is no significant association between firm size and economic value added. The results also show that there is a positive association between return on assets and economic value added. Conclusions - Theoretically, timely information is effective in decision-making. This study shows that timeliness of information has positive effect on the creation of economic value added. However, disclosure quality, reliability, and firm size do not effect on economic value added. Companies with greater return on assets produce greater economic value added.

• Proceedings of the KIEE Conference
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• 2005.11b
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• pp.151-155
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• 2005

An electricity consumption is closely related to the economic growth structure. The change of economic growth structure affects the pattern of electricity consumption widely and severely. This paper gives that the primary changing factors of electricity growth are economic growth, change of industry structure(the change of electricity consumption ratio in case of residential sector), and the effect of electricity saying. It gives a model to analyze the influence of GDP to the change of electricity consumption patterns by sector through the period of pre and post 1998(IMF, financial crisis) to observe the contribution of each factor to the growth of electricity demand. It is anticipated that this study shows the feasible scheme of economic structure to become the developed country.

• KDI Journal of Economic Policy
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• v.31 no.2
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• pp.235-266
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• 2009

This paper investigates changes in the extent of exchange rate pass-through to export price in Korea. First, empirical results show that export prices have become less responsive to the exchange rate since the financial crisis in 1997. The decline of exchange rate pass-through to export prices suggests that Korean exporters are more likely to use profit margins to absorb part of the impact of exchange rate changes, consistent with pricing to market phenomenon. Second, this paper finds asymmetries in the response of export prices to exchange rate changes. In the post-crisis period. appreciations are more likely to be offset by markup adjustment than depreciations. Third, this paper documents that a significant portion of the decline of exchange rate pass-through is a result of both increased volatility of exchange rate and increased competition with China in the world market.

• Journal of Korea Port Economic Association
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• v.25 no.3
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• pp.269-282
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• 2009

This study investigates the difference of behavioral patterns between the import container volume of all ports and that of Gwangyang port in Korea. All series span the period January 1999 to December 2008. I first test whether the series are stationary or not. I can reject the null hypothesis of a unit root in each of the level variables and of a unit root for the residuals from the cointegration at the 5 percent significance level. I hitherto make use of variance decompositions and impulse response functions, both of which have now been widely used to examine how much movement in one variable can be explained by innovations in different variables and how rapidly these fluctuations in one variable can be transmitted to another. The variance decompositions for the import container volume show that the proportions of the forecast error variance of import container volumes explained by themselves are 30 and 26 per cent after 12 months, respectively. As a result, innovations in exchange rate and business activity explain 70 and 74 per cent of the variance in the import container volume. All in all, innovation accounting indicates that import container volumes are not exogenous with respect to exchange rate and business activity. The impulse responses indicate that container volumes decrease sharply to the shocks in exchange rate and decay very slowly to its pre-shock level, while container volumes respond positively to the shocks in the business activity and disappear very slowly, showing that the shocks last very long. Furthermore Gwangyang port is more sensitive to the change of the exchange rate and the industrial production than all ports.

• Journal of the Economic Geographical Society of Korea
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• v.14 no.4
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• pp.603-615
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• 2011

This article explores the causes of why there are many international exchange festivals and events regarding South Korea in Kyushu, Japan. It can be explained as follows. Firstly, Kyushu is the closest region to South Korea and there are many transport links between the two places. Secondly, Kyushu has many rich historical sites relating to Korea which would be ideal themes for international exchange festivals and events. Thirdly, Kyushu has the highest number of sister city connection with South Korea in Japan. This means that it is easy to hold international exchange festivals and events with the sister city. Tsushima city in Nagasaki prefecture is thought to best encompass all of the above criteria. Therefore, it would seem that Tsushima city is especially eager to hold international exchange festivals and events with South Korea as a means of meeting the regional development strategy.

• The Journal of Industrial Distribution & Business
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• v.8 no.2
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• pp.5-10
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• 2017

Purpose - The purpose of this paper was to analyze the Chinese government's announcement of the RMB's appreciation on July 1, 2010, and its aim was to ascertain whether the appreciation has affected Chinese export prices by empirically measuring the degree of the exchange rate pass-tough on those prices. Research design, data, and methodology - Using 73 HS trade categories with cross-industry and time-series data, the panel estimation of a fixed-effects model has been applied to measure the degree and stability of any exchange rate pass-through effects. The estimation results show that the export prices of most trade categories were affected by the exchange rate changes. The pass-through effect was generally small, at about -0.485, and statistically significant in most export prices. Results - The empirical results indicate that China would lose its advantage and competitiveness in export if the RMB were appreciated continuously and rapidly because its export goods would no longer operate under strong monopolistic competition. Conclusions - The implications for China's exchange rate policy suggest that it would be better for the RMB to appreciate slowly and gradually rather than radically. It is clear that it would be allow the capital free flow in Chinese overall economic interest to reduce the continuous appreciation pressure on the currency and pave the way for improvements in export distribution competitiveness.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.4
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• pp.339-347
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• 2021

This study aims to forecast the exchange rate by a combination of different models as proposed by Poon and Granger (2003). For this purpose, we include three univariate time series models, i.e., ARIMA, Naïve, Exponential smoothing, and one multivariate model, i.e., NARDL. This is the first of its kind endeavor to combine univariate models along with NARDL to the best of our knowledge. Utilizing monthly data from January 2011 to December 2020, we predict the Pakistani Rupee against the US dollar by a combination of different forecasting techniques. The observations from M1 2020 to M12 2020 are held back for in-sample forecasting. The models are then assessed through equal weightage and var-cor methods. Our results suggest that NARDL outperforms all individual time series models in terms of forecasting the exchange rate. Similarly, the combination of NARDL and Naïve model again outperformed all of the individual as well as combined models with the lowest MAPE value of 0.612 suggesting that the Pakistani Rupee exchange rate against the US Dollar is dependent upon the macro-economic fundamentals and recent observations of the time series. Further evidence shows that the combination of models plays a vital role in forecasting, as stated by Poon and Granger (2003).