• The Journal of the Korea Contents Association
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• v.21 no.1
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• pp.55-65
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• 2021

The purpose of this study is to explore whether entering the overseas market can be an opportunity in overcoming the limitations of the single profit structure in which the traditional performing arts industry relies on public support. To this end, we applied the concept of industrial value-chain and business model and divided the overseas market entry process into four stages-preparation, promotion, harvest, and follow-up. Based on three case-studies that actively pursued overseas market development with market-oriented thinking in the field of traditional music, the relevant entry model of overseas market for the Korean traditional performing arts industry was suggested. Although the overseas market is not yet a major source of revenue, the traditional performing arts teams searching for profit diversification can consider the overseas entry model derived from this study. Also as found in case studies, the Korean government should establish an institutional system to foster planning and distribution experts in charge of overseas markets for the traditional performing arts, and develop a long-term information provision program away from the one-time expense support.

• Korean Journal of Construction Engineering and Management
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• v.20 no.1
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• pp.86-95
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• 2019

As the urban development economy is stagnating due to the reduction of the budget for Social Overhead Capital (SOC) and the stabilization policy of the real estate market, there is a steady increase in the interest of domestic construction companies to enter the overseas market. However, domestic construction companies are showing a decline in overseas urban development market as compared with advanced foreign companies having excellent financial management and overseas project management ability. Therefore, it is necessary for domestic companies to select an urban development model that meets the environment and the level of the country of entry, and to establish an advance strategy to manage the risks of overseas business. For this purpose, the factors of entry into the overseas urban development market through the existing research, literature analysis, and FGI were derived, and survey strategy and IPA analysis were conducted to develop strategies for entering the overseas urban development market. As a result, we have established a strategy for private companies to enter the overseas urban development market.

• Journal of the Korean housing association
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• v.26 no.5
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• pp.71-78
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• 2015

Currently, the Korean construction industry is shifting its interest to the overseas construction market because of a stagnating domestic market. In the meantime, the international housing construction market is expanding with respect to new city development projects that are supported by population growth and urban migration. Despite the Korean construction industry's expertise in new city development, technology, and systems for apartment supply, the share of Korean players in the international housing construction market is continuously decreasing. As a measure to overcome this situation, the authors of this study considered the paper "The Development of a Cost Effective, Long-life Housing Model and Construction of Testbed," which is currently in progress as a part of national project. Through literature review and interviews with experts, the authors determined that there are "column+minimum interior (infill)" apartments that are similar to the long-life housing in some areas of China, Southeast Asia, and Russia. Candidate countries expected to be feasible for the entry of long-life housing were selected by determining the top countries that have already entered the long-life housing market and analyzing those selections through additional specific techniques. The external environments of the selected countries were also analyzed. Please refer to the full paper for details.

• Journal of the Korea Institute of Building Construction
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• v.22 no.4
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• pp.391-402
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• 2022

With the number of social overhead capital(SOC) projects that introduce private capital on the rise, overseas construction global companies today need to establish and advance their overseas order strategies. In this context, the purpose of this study is to develop the public private partnership(PPP) capacity evaluation model for developing countries and use it for domestic overseas construction companies to establish strategies for overseas expansion. The PPP competency evaluation model analyzes the importance of PPP competency evaluation items and infrastructure environment competency evaluation items through a review of previous studies and an interview survey with overseas construction experts. Through the above analysis results and expert surveys, problems that may occur when overseas construction companies enter the PPP market were derived, and improvement measures were proposed. Countries with a high probability of overseas construction companies entering the PPP market were determined to be those that have a mature PPP system, low risk in construction, and a good entry environment with a high infrastructure market size and growth rate. In addition, a lack of PPP investment experience, the absence of information on the infrastructure environment, and a shortage of PPP experts were identified as problems when entering the overseas construction PPP market. As an improvement measure, it was suggested to enter in cooperation with domestic and foreign companies. In addition, a plan was proposed to develop a curriculum to secure experts in areas such as PPP finance and contracts and to provide PPP information for each country. These findings are expected to contribute to overseas construction companies proposing strategies for entering the overseas construction market and using them for overseas expansion strategies and policy establishment.

• Journal of Korea Trade
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• v.24 no.8
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• pp.121-132
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• 2020

Purpose - The principle aim of this study is to further investigate the relationship between market diversity and export performance. We examine the benefits and costs of geographic market diversity regarding the number of countries exported to by firms on their export performance. Based on the financial risk reduction model and the entry costs model, we propose a way to incorporate the costs and benefits aspects of market diversity. Design/methodology - To empirically investigate our research question, the curvilinear relationship between market diversity and export performance, we built a secondary panel data set between 2015 and 2019, containing 17,863 observations of Korean exporting companies. A generalized least squares panel estimator with fixed effects was employed to test the hypothesis, and the statistical package, Stata 14, was used. Findings - Our main findings are as follows: As market diversity increases, export performance increases because exporters can diversify and reduce financial risks in export markets. However, the relationship between the two does not grow. As it peaks, the entry costs increase due to the high market diversity, thereby outweighing the benefits, leading, eventually to decrease in the export performance. Consequently, there is an inverted U-shaped relationship between market diversity and export performance. Originality/value - In the export and trade literature, the impact of market diversity on export performance has not been addressed yet, despite the importance of this subject. Many scholars have assumed a positive linear relationship between the two, considering only the decrease in market risks as the number of overseas markets increases, without examining the increase in the entry and management costs. Therefore, our study contributes by providing a new perspective for analyzing the characteristics and outcomes of market diversity.

• Korean Journal of Construction Engineering and Management
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• v.10 no.5
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• pp.135-147
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• 2009

The world has witnessed the dramatic expansion of international construction markets during the last decades, particularly around the developing economies and energy resource-rich countries. However, despite the booming markets, the risks of emerging regions have also increased under the rapidly changing environments confronting the global contractors. Most of all, success in overseas business mainly depends on selecting the right market to enter. Accordingly, the right market selection requires global firms to carefully carry out the scientific market entry decision by evaluating country risks, market prospects, firm's capability, level of competition, and among others. This study aims at developing a market entry model by the use of real option analysis (ROA) and scenario planning, which addresses the corporate strategic flexibility against the uncertainties encompassing the overseas construction markets. Based on the suggested approach, global contractors are expected to make a better decision rather than a typically static approach in pursuing, postponing, or abandoning a prospective market to their capacity with a concurrent consideration of uncertainties as well as its option value.

• Journal of the Korea Institute of Building Construction
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• v.22 no.3
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• pp.305-316
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• 2022

Domestic construction companies have difficulty in establishing strategies when entering overseas markets because they do not have an overseas construction economic sentiment index to refer to for data on overseas construction prospects. Considering that the fluctuation of overseas construction orders over the past decade has been substantial and large companies and SMEs are actively advancing overseas, this study developed an evaluation model for an overseas construction business sentiment index to grasp the economic experience of overseas construction companies. In 2021 Korean companies earned 30.6 billion in overseas construction contracts, 87% the level of the previous year, despite difficulties such as COVID-19 and low oil prices, thanks to efforts by construction companies to strengthen their strategies for entry, such as regional diversification, and government support for winning orders. Since the overseas construction industry fluctuates greatly due to changes in the international environment, it is necessary to investigate and analyze the economic sentiment index of overseas construction companies. In particular, despite the increase in overseas expansion of small and medium-sized construction companies and engineering companies, the provision of information on the overseas construction market sentiment index is insufficient, limiting the establishment of strategies for overseas construction expansion. Therefore, this study intends to develop an overseas construction market sentiment index model that can understand the economic sentiment of overseas construction companies, provide a forecast for overseas construction, and use it to establish overseas construction strategies and policies.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.32 no.5D
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• pp.473-481
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• 2012

Demand of Natural Gas (NG) consumption is continuously increasing by long service life and low environmental impact than other fossil fuels. Because of this reasons, Gas wells exploration and huge LNG plant construction project are being boosted world-widely. Especially, overseas NG pipe-line projects are emerging by considering safe and efficiency at the inter-country sections. At the same time, Korean contractors are being achieved to record-breaking performance at 2011's overseas construction market and 80% of new-record was attained from overseas plant construction projects. Nevertheless, Korean contractors are behind than overseas leading contractors by geographical distance from gas wells and concentrated demand for storage plant. In these reasons, this paper aims to develop the standardized business process model(BPM) for overseas NG pipe-line project at project planning phase to support the project entry. To this aim, first of all, extract the BPM through the broad literature and overseas construction market review and domestic/overseas pipe-line project analysis. Second, Test-bed was performed to confirm of practical applicability by 4 experts. And then 15 experts survey were performed to validate the usability and effectiveness of BPM for overseas NG pipe-line project. Consequently, if Korean contractors are using this BPM with their own know-how and experiences, it will be returned to more reasonable and rational references for decision making in overseas NG pipe-line project.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.46 no.2
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• pp.176-182
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• 2023

With about 80% of the global economy expected to shift to the global market by 2030, exports of reverse direct purchase products, in which foreign consumers purchase products from online shopping malls in Korea, are growing 55% annually. As of 2021, sales of reverse direct purchases in South Korea increased 50.6% from the previous year, surpassing 40 million. In order for domestic SMEs(Small and medium sized enterprises) to enter overseas markets, it is important to come up with export strategies based on various market analysis information, but for domestic small and medium-sized sellers, entry barriers are high, such as lack of information on overseas markets and difficulty in selecting local preferred products and determining competitive sales prices. This study develops an AI-based product recommendation and sales price estimation model to collect and analyze global shopping malls and product trends to provide marketing information that presents promising and appropriate product sales prices to small and medium-sized sellers who have difficulty collecting global market information. The product recommendation model is based on the LTR (Learning To Rank) methodology. As a result of comparing performance with nDCG, the Pair-wise-based XGBoost-LambdaMART Model was measured to be excellent. The sales price estimation model uses a regression algorithm. According to the R-Squared value, the Light Gradient Boosting Machine performs best in this model.

• Journal of Korea Trade
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• v.23 no.7
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• pp.64-82
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• 2019

Purpose - This study's the ultimate goal is to analyze competitiveness improvement on multinational enterprises as firstly providing which factors are to strengthen or weaken competitiveness, secondly investigating if hypotheses development and research design is correct and thirdly finding significant implications for research and practices across country specific advantage. Design/methodology - Using feedback data provided by 250 firms, we extracted variable factors and hypotheses, which were empirically carried out by reliability and validity testing, correlation analysis, path analysis, and confirmatory factor analysis to prove which factors are to make the positive effect on the improvement of overseas subsidiaries' management performance and competitiveness. Findings - Through proceeding empirical analysis study, we found out that technology management capability, knowledge management capability, and local management capability had a statistically significant effect on the improvement of overseas subsidiaries' competitiveness, while linked activity capability revealed a negative effect. Originality/value - During business globalization, overseas investments and establishment of overseas subsidiaries have been essential. It is anticipated that this study results would be meaningful for analysis on multinational enterprises' competitiveness and helpful in promoting their entry into Korean market and enhancing their competitiveness. This paper would also help Korea government develops new FDI model and induce more investment from global major companies to Korea region.