• Title/Summary/Keyword: Effects on the Korean Export

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The Basic Study on the Ripple Effect of Industrial & Technological Policy for New & Renewable Energy (신재생에너지 산업 기술 정책의 투자효과 분석에 대한 기초 연구)

  • Kim, Jeongbae
    • Journal of the Korean Solar Energy Society
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    • v.32 no.5
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    • pp.18-24
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    • 2012
  • This study is to propose the quantitative methods instead of total results on New & Renewable energy R&D investments. To do that, this study used KETEP R&D investment profile, National R&D investment profile, and ISTANS industrial census results. From the analysis, this study firstly showed that the R&D investment on New&Renewable energy is higher than that of other industrial parts. And the investment increase ratio on New&Renewable energy is also very higher during past 10 years. And finally showed that the ripple effects(relatively the employee number, the amount of sales, and the amount of export) of the focus energy group including feul cell, photovoltaic, and wind power was higher than those of general manufacturing industry. This approach was firstly conducted using the poor census results, so other analysis methods will be developed and performed to exact;y show the investment ripple effect.

A Study on the Born Global Venture Corporation's Characteristics and Performance ('본글로벌(born global)전략'을 추구하는 벤처기업의 특성과 성과에 관한 연구)

  • Kim, Hyung-Jun;Jung, Duk-Hwa
    • Journal of Global Scholars of Marketing Science
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    • v.17 no.3
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    • pp.39-59
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    • 2007
  • The international involvement of a firm has been described as a gradual development process "a process in which the enterprise gradually increases its international involvement in many studies. This process evolves in the interplay between the development of knowledge about foreign markets and operations on one hand and increasing commitment of resources to foreign markets on the other." On the basis of Uppsala internationalization model, many studies strengthen strong theoretical and empirical support. According to the predictions of the classic stages theory, the internationalization process of firms have been recognized and characterized gradual evolution to foreign markets, so called stage theory: indirect & direct export, strategic alliance and foreign direct investment. However, termed "international new ventures" (McDougall, Shane, and Oviatt 1994), "born globals" (Knight 1997; Knight and Cavusgil 1996; Madsen and Servais 1997), "instant internationals" (Preece, Miles, and Baetz 1999), or "global startups" (Oviatt and McDougall 1994) have been used and come into spotlight in internationalization study of technology intensity venture companies. Recent researches focused on venture company have suggested the phenomenons of 'born global' firms as a contradiction to the stages theory. Especially the article by Oviatt and McDougall threw the spotlight on international entrepreneurs, on international new ventures, and on their importance in the globalising world economy. Since venture companies have, by definition. lack of economies of scale, lack of resources (financial and knowledge), and aversion to risk taking, they have a difficulty in expanding their market to abroad and pursue internalization gradually and step by step. However many venture companies have pursued 'Born Global Strategy', which is different from process strategy, because corporate's environment has been rapidly changing to globalization. The existing studies investigate that (1) why the ventures enter into overseas market in those early stage, even in infancy, (2) what make the different international strategy among ventures and the born global strategy is better to the infant ventures. However, as for venture's performance(growth and profitability), the existing results do not correspond each other. They also, don't include marketing strategy (differentiation, low price, market breadth and market pioneer) that is important factors in studying of BGV's performance. In this paper I aim to delineate the appearance of international new ventures and the phenomenons of venture companies' internationalization strategy. In order to verify research problems, I develop a resource-based model and marketing strategies for analyzing the effects of the born global venture firms. In this paper, I suggested 3 research problems. First, do the korean venture companies take some advantages in the aspects of corporate's performances (growth, profitability and overall market performances) when they pursue internationalization from inception? Second, do the korean BGV have firm specific assets (foreign experiences, foreign orientation, organizational absorptive capacity)? Third, What are the marketing strategies of korean BGV and is it different from others? Under these problems, I test then (1) whether the BGV that a firm started its internationalization activity almost from inception, has more intangible resources(foreign experience of corporate members, foreign orientation, technological competences and absorptive capacity) than any other venture firms(Non_BGV) and (2) also whether the BGV's marketing strategies-differentiation, low price, market diversification and preemption strategy are different from Non_BGV. Above all, the main purpose of this research is that results achieved by BGV are indeed better than those obtained by Non_BGV firms with respect to firm's growth rate and efficiency. To do this research, I surveyed venture companies located in Seoul and Deajeon in Korea during November to December, 2005. I gather the data from 200 venture companies and then selected 84 samples, which have been founded during 1999${\sim}$2000. To compare BGV's characteristics with those of Non_BGV, I also had to classify BGV by export intensity over 50% among five or six aged venture firms. Many other researches tried to classify BGV and Non_BGV, but there were various criterion as many as researchers studied on this topic. Some of them use time gap, which is time difference of establishment and it's first internationalization experience and others use export intensity, ration of export sales amount divided by total sales amount. Although using a mixed criterion of prior research in my case, I do think this kinds of criterion is subjective and arbitrary rather than objective, so I do mention my research has some critical limitation in the classification of BGV and Non_BGV. The first purpose of research is the test of difference of performance between BGV and Non_BGV. As a result of t-test, the research show that there are statistically efficient difference not only in the growth rate (sales growth rate compared to competitors and 3 years averaged sales growth rate) but also in general market performance of BGV. But in case of profitability performance, the hypothesis that is BGV is more profit (return on investment(ROI) compared to competitors and 3 years averaged ROI) than Non-BGV was not supported. From these results, this paper concludes that BGV grows rapidly and gets a high market performance (in aspect of market share and customer loyalty) but there is no profitability difference between BGV and Non_BGV. The second result is that BGV have more absorptive capacity especially, knowledge competence, and entrepreneur's international experience than Non_BGV. And this paper also found BGV search for product differentiation, exemption strategy and market diversification strategy while Non_BGV search for low price strategy. These results have never been dealt with other existing studies. This research has some limitations. First limitation is concerned about the definition of BGV, as I mentioned above. Conceptually speaking, BGV is defined as company pursue internationalization from inception, but in empirical study, it's very difficult to classify between BGV and Non_BGV. I tried to classify on the basis of time difference and export intensity, this criterions are so subjective and arbitrary that the results are not robust if the criterion were changed. Second limitation is concerned about sample used in this research. I surveyed venture companies just located in Seoul and Daejeon and also use only 84 samples which more or less provoke sample bias problem and generalization of results. I think the more following studies that focus on ventures located in other region, the better to verify the results of this paper.

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An Empirical Study on the Modeling Determinants and Effects of Korean FDI (Focused on six Country of East Asia:01-08) (한국기업의 해외직접투자 모형설정에 관한 실증 연구 (동아시아 6개국 중심:01-08))

  • Lee, Eung-Kweon
    • International Commerce and Information Review
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    • v.12 no.1
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    • pp.403-428
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    • 2010
  • This research is about global investment for managing the important position, what Korea is doing in World's main market. Considering there are some differences between developed countries' model and developing countries' model in doing direct overseas investment, they target to get political agreement and develop the new invest plan and strategy by understanding changes of Korean manufacturing companies in direct overseas investment between 2001 and 2008 and analyzing the change of yearly investment motivation. The result from this result let us know that company should develop their own idea for their competitive advantage by doing direct overseas investment. And, the overseas investment, which was already done in other countries, 1. Review its realities and tendency in terms of investing countries, industries, and its scale and then Set up an actual model, based on strategic combination of investing location select and determination of Korean manufacturing companies. 2. Analyze how the situational factors have influenced and what factors would be considered for direct overseas investment. From the analyzing result, even though it is fairly true that raising wage and getting resources, and developing alternating industries for export had influenced at the beginning, overseas investing companies' policy will be influenced by the results from studying marketing-pursuit type, local producing and manufacturing by using low-wage people for local sale, and situation for changing investing tendency as service industry.

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The Historical Achievement of the South Korean Music Industry

  • Woo-Jun JANG
    • Journal of Koreanology Reviews
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    • v.3 no.1
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    • pp.7-13
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    • 2024
  • The study aims to examine the development of the South Korean music industry over time in order to capture the evolution process of the industry from its initial stages to its current state as one of the world's leading music markets. Based on the above consideration, a systematic literature review was conducted in order to provide an overview of the achievements of the South Korean music industry with the help of PRISMA method. The reason for doing this is to ensure that the process of selecting, filtering and collecting literature from different sources is not only efficient and time-saving but also rigid and coherent. This paper will explore the various elements that have defined the industry, including culture, technology, marketing and government policies and regulations (Jang & Song, 2017). Furthermore, it will inquire the effects of the K-pop cultural export on other industries, whether it be tourism, fashion, consumer goods, and more, thereby illustrating its vast significance. In more detail, this study aims to give an adequate idea about the historical accomplishments of the South Korean music industry in the global music map, identify factors that facilitated the enhancement of the industry and examine the significance of the findings and their applications for the industry's progression and development in the future.

An Study on Long Run Effects of Determinants on Export of Korean Goods to US (한국의 대미국 수출 결정요인의 장기적 영향에 관한 연구)

  • Choi, Mun Seong
    • International Commerce and Information Review
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    • v.16 no.5
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    • pp.409-433
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    • 2014
  • In this paper, I estimate long-run elasticities of US real GDP and real exchange rate between Korean Won and US Dollar on export of Korean goods to US and analyze changes in their trend by using VECM and rolling regression with a fixed window. For the purposes I use the year data from 1990 to 2013 which are selected from UNCTAD, Korea Trade Association(KTA), and Bank of Korea(BOK). The results are that the long-run elasticities of US real GDP vary from 2.849 to 2.938 for the period from 1990 to 2013 depending on the models in VECM and all of them are significant statistically. The elasticities of real exchange rate between Korean WON and US Dollar vary from 0.962 to 0.967 for the same period depending on the models in VECM and all of them are significant statistically. In case of the results through the OLS and the rolling regression, the long-run elasticities of US. real GDP are 3.015 for Basic Model, 2.949 for the modified Model 1, and 2.125 for the modified Model 2 for the period from 1990 to 2013 depending on the models and all of them are significant statistically. The average of long-run elasticities of real US GDP before the global financial crisis of 2008 is greater than that after the global financial crisis of 2008. On the other hand, the long-run elasticities of real exchange rate between Korean WON and US $ are 0.347 for Basic Model, 0.566 for the modified Model 1, and -0.217 for the modified Model 2 for the same period and all of them are significant statistically except for the modified Model 2. The average of long-run elasticities of real exchange rate before the global financial crisis of 2008 is greater than that after the global financial crisis of 2008.

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Analysis of the Impact of US, China, and Korea Macroeconomic Variables on KOSPI and VKOSPI (미국·중국·한국 거시경제변수가 한국 주식수익률 및 변동성 지수 변화율에 미치는 영향 분석)

  • Jung-Hoon Moon;Gyu-Sik Han
    • Asia-Pacific Journal of Business
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    • v.15 no.1
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    • pp.209-223
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    • 2024
  • Purpose - This article analyzes the impact of macroeconomic variables of the United States, China, and Korea on KOSPI and VKOSPI, in that United States and China have a great influence on Korea, having an export-driven economy. Design/methodology/approach - The influence of US, China, and Korea interest rates, industrial production index, consumer price index, US employment index, Chinese real estate index, and Korea's foreign exchange reserves on KOSPI and VKOSPI is analyzed on monthly basis from Jan 2012 to Aug 2023, using multifactor model. Findings - The KOSPI showed a positive relationship with the U.S. industrial production index and Korea's foreign exchange reserves, and a negative relationship with the U.S. employment index and Chinese real estate index. The VKOSPI showed a positive relationship with the Chinese consumer price index, and a negative relationship with the U.S. interest rates, and Korean foreign exchange reserves. Next, dividing the analysis into two periods with the Covid crisis and the analysis by country, the impact of US macroeconomic variables on KOSPI was greater than Chinese ones and the impact of Chinese macroeconomic variables on VKOSPI was greater than US ones. The result of the forward predictive failure test confirmed that it was appropriate to divide the period into two periods with economic event, the Covid Crisis. After the Covid crisis, the impact of macroeconomic variables on KOSPI and VKOSPI increased. This reflects the financial market co-movements due to governments' policy coordination and central bank liquidity supply to overcome the crisis in the pandemic situation. Research implications or Originality - This study is meaningful in that it analyzed the effects of macroeconomic variables on KOSPI and VKOSPI simultaneously. In addition, the leverage effect can also be confirmed through the relationship between macroeconomic variables and KOSPI and VKOSPI. This article examined the fundamental changes in the Korean and global financial markets following the shock of Corona by applying this research model before and after Covid crisis.

Overseas Subsidiaries and the Productivity of Two-way Trading Manufacturers in Global Value Chains

  • Jung, Ji-Eun;Hur, Jung
    • Journal of Korea Trade
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    • v.23 no.3
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    • pp.1-19
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    • 2019
  • Purpose - This research examines the effect of a foreign subsidiary on the productivity growth of a Two-way trading manufacturing firm in Korea. We explore firms engaged in both trade and FDI simultaneously to verify whether participation in GVC as a broad concept is an efficient internationalization strategy to increase the productivity of a Korean manufacturing firm. Design/methodology - Based on the firm-level data by utilizing the Survey of Business Activities from Statistics Korea, we examine the impact of vertically integrated foreign subsidiaries on the productivity of a manufacturing firm that exports and imports simultaneously. Findings - The results show that if a Two-way trading firm establishes one or more overseas subsidiaries, the total factor productivity growth increases. Moreover, the FDI effect is statistically significant when the destination country has an economically close relationship with Korea. However, these effects are disparate depending on the industrial competitiveness or market situation where the subsidiary is located. Nonetheless, the synergy effect resulting from industrial combination is represented in China and the USA only. Originality/value - As the importance of GVC has become more emphasized around the world. In spite of the scarcity of related domestic studies, we explored the effect of multinational manufacturing firms participating in GVC using firm-level data.

Research on the inlet preswirl effect of clearance flow in canned motor reactor coolant pump

  • Xu, Rui;Song, Yuchen;Gu, Xiyao;Lin, Bin;Wang, Dezhong
    • Nuclear Engineering and Technology
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    • v.54 no.7
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    • pp.2540-2549
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    • 2022
  • For a pressurized water reactor power plant, the reactor coolant pump (RCP) is a kernel component. And for a canned motor RCP, the rotor system's properties determines its safety. The liquid coolant inside the canned motor RCP fills clearance between the metal shields of rotor and stator, forming a lengthy clearance flow. The influence of inlet preswirl on rotordynamic coefficients of clearance flow in canned motor RCP and their effects on the rotordynamic characteristics of the pump are numerically and experimentally investigated in this work. A quasi-steady state computational fluid dynamics (CFD) method has been used to investigate the influence of inlet preswirl. A vertical experiment rig has also been established for this purpose. Rotordynamic coefficients on different inlet preswirl ratios (IR) are obtained through CFD and experiment. Results show that the cross-coupled stiffness of the clearance flow would change significantly with inlet preswirl, but other rotordynamic coefficients would not change significantly with inlet preswirl. For the case of clearance flow between the stator and rotor cans, influence of inlet preswirl is not so significant as the IR is not large enough.

Analysis of the Consumer's Intentions and Effects on the Introduction of Kimchi into a Geographical Indication System in Major Export Markets (김치 지리적표시제 도입에 대한 주요 수출시장 소비자 의향 및 효과 분석)

  • Park, Ki-Hwan;Seo, Hong-Seok;Shin, Sung-Chul
    • Journal of the Korean Society of Food Culture
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    • v.34 no.2
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    • pp.168-175
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    • 2019
  • Although Kimchi is a Korean traditional food, domestic consumption has been decreasing steadily and the trade inversion phenomenon has reached a serious level due to the surge of Chinese Kimchi imports. Moreover, cases where foreign Kimchi is transformed illegally into Korean Kimchi are frequent, which impedes the expansion of Korean Kimchi exports. To sustain the Korean Kimchi industry in a situation where the domestic and overseas conditions are deteriorating, it is necessary to positively review the introduction of Kimchi into a geographical indication (GI) system. This study examined the intention of foreign consumers to purchase Korean Kimchi with GI and analyzed the impact on the trade balance. Approximately 42.8% of 500 Japanese consumers answered that they would purchase Korean Kimchi with GI and they were willing to pay 7.8% more than the present price. Approximately 78.7% of 300 Taiwanese consumers replied that they purchase it and would pay 25.1% more. In addition, Japanese and Taiwanese consumers reported that they expected to increase their Korean Kimchi purchases by 21.9 and 22.4%, respectively. Based on the survey results, the effects of the trade balance were measured using the methodology of a preliminary impact assessment using the KREI-KASMO model. The trade balance of Kimchi is expected to improve slightly at an annual average of 11.718.6 million US$ to as much as 27.7~35.8 million US$.

Effects of film liners, ethylene scrubber, alcohol releaser and chlorine dioxide on the berry quality during simulated marketing in 'Campbell Early' grapes

  • Kim, Sung-Joo;Choi, Cheol;Ahn, Young-Jik;Lim, Byung-Sun;Chun, Jong-Pil
    • Korean Journal of Agricultural Science
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    • v.47 no.3
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    • pp.415-424
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    • 2020
  • This study investigated the effects of an ethylene scrubber (ES) with a micro-perforated polypropylene (MP-PP, 30 ㎛) or a high density polyethylene (MP-HDPE, 30 ㎛) film liner for the export carton packaging box in 'Campbell Early' grapes. Rachis browning was highest in the untreated group, followed by MP-PP and MP-HDPE for 14 days of simulated marketing at 20℃. The combination treatment of ES with the film liners showed a partial inhibition of the rachis browning regardless of the film liners. The effects of an alcohol releaser (AR) sachet or chlorine dioxide (CD) diffuser co-packaging were also investigated in the 'Campbell Early' grapes packed with the MP-HDPE (40 × 99 pin hole·m-2) film liner. The CD 1 g treatment showed a very limited weight loss of 1.1%, which was significantly lower than the 4.7% of the untreated control after 14 days of simulation marketing at 20℃. The berry shatter was 0.7% for the MP-HDPE + CD 1 g treatment and 1.8% for the MP-HDPE + CD 5 g treatment on the 10th day of the simulated marketing, which was significantly lower than the 8.9% of the control. The stem browning was significant suppressed until the 10th day of the simulated marketing. In particular, the CD 1 g treatment in combination with the MP-HDPE showed a low rachis and pedicel browning index of 2.0, which is 50% and 40% lower than that of the untreated control and the MP-HDPE single treatment, respectively. In addition, the CD 1 g treatment group showed a higher decay reduction effect than the CD 5 g treatment group, which caused high concentration damage.