• The Journal of Asian Finance, Economics and Business
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• v.9 no.4
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• pp.191-196
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• 2022

From several socioeconomic perspectives, the present health crisis can be connected to the 2008 financial and economic catastrophe. Governments worldwide are working hard to keep the markets in check, as evidence suggests that the health crisis may soon become an economic crisis. This paper aims to analyze the effect of COVID-19 on the selected stock market. Using a panel of daily COVID-19 confirmed cases and deaths and the stock market from 22 developing countries, we exploit an oil price as a shock to the stock market and examine the effect of COVID-19 on the slowdown of the stock market. We find a negative and significant impact of COVID-19 on the stock market in the first stage till April. However, there is no net influence on the stock market downturn when we extend the period. However, further study suggests that the outbreak's negative influence on the selected stock market has diminished and has begun to decline as of mid-April. As a result of the COVID-19 effect on the chosen stock, our findings imply that the government in the chosen market should consider a regulatory mechanism to reduce the stock market slowdown induced by the pandemic COVID-19.

• Korean journal of aerospace and environmental medicine
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• v.30 no.3
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• pp.86-90
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• 2020

Coronavirus disease 2019 (COVID-19) has had a significant impact on our society as a whole. The COVID-19 pandemic is not only a health crisis, it is also an economic, social and humanitarian crisis. Considering the dramatic global economic and social impact that the crisis has engendered, the aviation system is standing on the doorstep of rapid transformation. In particular, the impact on the aviation and travel industries is enormous. Air travel to most countries has been suspended and blocked. Looking at Korea's current situation, COVID-19 has wholly changed the aviation industry. As COVID-19 spreads around the world, countries have come up with aviation safety measures. Infectious disease safety measures were established to protect passengers and crew members, and countries with collapsed medical systems extended the validity period for aviation medical examinations. In Korea, on August 11, the Ministry of Land, Infrastructure and Transport provided guidance on medical measures related to COVID-19 through an official letter of "Notification of cautions for pilots and air traffic control officers (ATCO) when COVID-19 is confirmed". Overseas countries such as the United States and the United Kingdom have announced regulations for aviation medical examination regulations in relation to COVID-19, and have set standards for returning to aviation after COVID-19 is confirmed. In this paper, we would like to investigate the regulations for aviation medical examination related to COVID-19.

• The Journal of Industrial Distribution & Business
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• v.13 no.9
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• pp.27-36
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• 2022

Purpose: The coronavirus pandemic has affected the tourism industry in a big way. The travel industry suffered intense damage from the pandemic and procedures acquainted to containing its spread because the pandemic outbreak has led to a decline in the number of tourists and a change in their behavior. At this point, this research is to investigate adequate solutions for tourism industry to overcome the crisis in a post-Covid 19 era. Research design, data and methodology: The current author gathered data from each included study to analyze and summarize the evidence when conducting a literature analysis. This stage involves gathering and reviewing intricate texts databases for the meta-analysis. Results: The current author found total five solutions from numerous literature contents, suggesting how to overcome the crisis in a post-Covid era for tourism industry. Solutions as follows, (1) Drawing beginning illustrations, (2) Introducing Government Backing Programs, (3) Increasing Promotion of Tourism Destinations, (4) Enhancing Safety and Security Measures, and (5) Improving Infrastructure and Facilities. Conclusions: This research suggests that although the global economic recession leads to reduced demand and intense competition from other sectors, the tourism industry will be well positioned to weather these challenges if practitioners of tourism organizations follow five solutions of this research.

• KDI Journal of Economic Policy
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• v.30 no.1
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• pp.33-70
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• 2008

This paper examines sources of growth of Korea's economy for the period from 1980 to 2005, based on both primal and dual growth accounting methodology employed by Young (1995) and Hsieh (2002). Also, this paper evaluates post-crisis growth performance of Korea, using cross-country comparison of growth accounting results and cross-country regressions. Main results of this paper are as follows. First, the growth slowdown after the crisis has been mainly driven by the slowdown of per worker capital accumulation. By contrast, the estimated TFPG of Korea for the period from 2001 to 2005 seems higher than, or at least roughly comparable to, the estimated TFPG in the pre-crisis period of 1991-1995. In theses respects, there were no substantial differences between the results obtained from primal and dual growth accounting methodology. Second, the cross-country regressions revealthat post-crisis growth slowdown of the Korea's economy can be largely attributed to world growth slowdown (decade effect) and East Asia-specific effects. In particular, it was found that the noticeable decelerationin per worker capital accumulation can be mostly attributed to some unknown factors which commonly affected East Asian countries. Viewed from an international perspective, the lowered post-crisis per worker GDP growth rate, as well as per-worker capital growth, which triggered concerns and debates in varying contexts, still seems respectable. So, the slowdown in capital accumulation is likely to be mainly a story of spectacularly high rate of capital accumulation in the pre-crisis period, not a story of 'weak' investment after the crisis.

• Economic Analysis
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• v.25 no.1
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• pp.34-65
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• 2019

This paper investigates the effects on Korean exports of demand in developed economies, and how these effects have changed since the global financial crisis. As a measure of import demand, we use import intensity-adjusted demand to take into account heterogenous import intensities across components of aggregate demand. Our estimation of a dynamic panel regression model reveals that Korea's exports to the G7 countries were elastic with respect to the import demand of these countries until the global financial crisis, but have shifted to become inelastic since. Furthermore, we separately estimate the effects of the different components of the G7 countries' aggregate demand (private consumption, public consumption, investment and exports). The results show that the decrease in private consumption in the G7 countries during the crisis had a significant impact in causing the decline in Korea's exports to them, but that the increase in their public consumption since the crisis has had a significant effect on driving increased Korean exports to them. The effects of the G7 countries' exports on Korea's exports to them remain positive and significant during both the pre- and post-crisis periods. The effects of the G7 countries' investments on Korea's exports are also positive and significant, but the positive effect has weakened since the crisis. Our findings suggest that the overall effect of changes in the G7 countries' import demand on Korea's exports to them has weakened compared to the pre-crisis period.

• 한국정보디스플레이학회:학술대회논문집
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• 2009.10a
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• pp.1-1
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• 2009

Recently, the FPD industry has faced the limit in market growth due to lack of new growth engine as a replacement of television. With sluggish market demand deepened by global economic crisis and persistent concern over panel oversupply, growth of the panel market has sharply slowed down, and profitability has been eroded. This also has tremendous effect on related industries including component, material and machine industries, spreading a sense of crisis across the whole FPD industry. Under this circumstance, for the FPD industry to take off once again, all involved in the FPD industry must cooperate and come up with innovative ideas, and identify the driving force to realize turbo-charged growth.

• The Journal of Industrial Distribution & Business
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• v.12 no.12
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• pp.25-33
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• 2021

Purpose: This paper estimates the impact of the epidemic crisis on election outcomes through investigating the effect of Covid19 crisis on election results of 21st General Election held in April 15th 2020 in Korea. Research design, data and methodology: This study employs Ordinary Least Square (OLS) method using district-level data from Seoul and Gyeonggi province available at National election data in Korea. Results: Despite the current crisis in Korea, Covid-19 has had positive effects on voter turnout on average, after controlling for other factors. On the other hand, the effect of Covid-19 on the voter turnout was negative in districts with a larger aging population and higher health insurance premiums. In addition, Covid-19 negatively impacted vote shares for the incumbent party, while its rival party saw gains in their votes. Conclusion: The effect of Covid-19 election outcomes in Korea is distinct from other countries due to the nationwide acknowledgment of the Korean government's achievement in managing the epidemic. This implies that the crisis management ability of a government is crucial in gaining support for an incumbent party in future elections. Countries facing upcoming elections need to implement acceptable Covid-19 restriction policies as well as economic support for compensation to reap similar benefits.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.10
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• pp.57-64
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• 2021

In the last decade, the effect of digitalization was the most cited issue in economic discourse, especially since technological advances, automation, and artificial intelligence are the key to the future discussions. Unemployment is one of the most important and continuous debates, especially in times of crisis due to the COVID-19 pandemic. Therefore, this study aims to analyze the influence of leadership style in innovation organizations to deal with the crisis. In this study, a non-probability purposive sampling method was used. A total of 377 respondents were from LinkedIn social media in Indonesia, with the criteria of employees who have worked for at least 6 years. The structural equation model was analyzed with Amos 25.0. The results show that virtual, servant, and transformational leadership influence employee creativity. Moreover, employee creativity strongly influences organizational innovation; therefore, a new model was found to meet the challenges during the COVID-19 pandemic crisis, which is leadership. Therefore, these results are useful for managers to overcome challenges during the COVID-19 pandemic crisis to manage employee creativity for a better innovative organization and make science a reference for finding solutions to the global wave of unemployment in the revolution 5.0 era.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.17 no.5
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• pp.179-185
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• 2016

This study verifies whether speculative trading in commodity markets acted as the primary cause of the increase in commodity prices after the global financial crisis using the Structural Vector Autoregressive (SVAR) model. The effects of speculative trading on commodity prices increased by a factor of 3 to 6 after the crisis compared to those before the crisis. Although the demand related variables, such as industrial production, affected commodity prices significantly before the crisis, their effects decreased after the crisis. Consequently, the rebound of commodity prices after the crisis was mainly caused by the increase in speculative money, fortified by the expansion of the global liquidity supply. The global liquidity may well increase in the future, because the U.S. Federal Reserve Board is likely to continue to increase its interest rate. This study claims that when global liquidity shrinks as a result of a change in the Fed's monetary policy stance, speculative trading will slow down, leading to a decline in commodity prices.

• KDI Journal of Economic Policy
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• v.46 no.1
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• pp.21-51
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• 2024

Since the Global Financial Crisis of 2008-2009, the importance of nonbank financial institutions in macroprudential management has increased significantly. Consequently, major countries and international financial institutions have been actively discussing and implementing macroprudential supervision and regulation for non-bank financial institutions (NBFI). In this context, this paper analyzes the systemic risk of both banks and non-bank sectors (securities firms and insurance companies) in South Korea over different time periods. Using the widely recognized ΔCoVaR methodology for measuring systemic risk, the analysis reveals that systemic risk increased substantially across all three sectors (banks, securities firms, and insurance companies) during the Global Financial Crisis, the European Sovereign Debt Crisis, and the COVID-19 pandemic. Although the banking sector exhibited relatively high systemic risk compared to the securities and insurance sectors, the relative differences in systemic risk varied across the different crisis periods. Notably, during the margin call crisis in March of 2020, the gap in systemic risk between the banking and securities sectors decreased significantly compared to that during both the Global Financial Crisis and the European Sovereign Debt Crisis, indicating that securities firms had a more substantial impact on risk in the overall financial system during this period. Furthermore, I analyze the impact of the issuance of equity-linked securities (ELS) by financial institutions on systemic risk, as measured by ΔCoVaR, finding that an increase in the outstanding balance of ELS issuance by financial institutions had an impact on increasing ΔCoVaR during the three crisis periods. These findings underscore the growing importance of non-bank financial institutions in relation to South Korea's macroprudential management and supervision. To address this evolving landscape, enhanced monitoring and regulatory measures focusing on non-bank systemic risk are essential components of maintaining financial stability in the country.