• The Korean Journal of Air & Space Law and Policy
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• v.32 no.1
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• pp.139-175
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• 2017

The Assembly plenary session on December 3, 2017 passed a Product Liability Amendment bill that introduced clauses concerning consumer burden of proof and punitive damage reimbursement. More specifically, these newly approved provisions will reduce the burden of proof placed on consumers and levy triple punitive damage on suppliers. Significant increases in the number of product-liability lawsuit and the number of related insurance contracts are expected. Since military aircraft are designed for operational purpose(seeking greater combat effectiveness over greater safety) and used in high-risk environment, it is practically impossible to obtain an affordable product-liability insurance, Without having any backup plan, military aircraft manufacturers directly face all sort of liability risks under Product Liability Act, Warrant Liability Act and Non-Performance of Contract Act. The U.S. experienced similar problems when they first implemented their product-liability law in 1970s. There had been a big dispute among legal practitioner, insurance professionals and scholars concerning military aircraft manufacturer's liability. In order to settle the issue, the U.S. Supreme Court has established a new precedent of Government Contractor Defense(GCD). The U.S. government also included an indemnity clause for military aircraft manufacturers in their FMS Contract with the Korean government. Likewise, Korean military aircraft manufacturers should 1) clearly understand their current position that they cannot afford expensive product-liability insurance and the cost is not accounted in the military procurement calculation, 2) estimate potential liability risks with the ongoing overseas export expansion in mind, 3) set up appropriate risk management measures through regulatory reform and policy development.

• Journal of the Korean Regional Science Association
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• v.32 no.1
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• pp.27-49
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• 2016

This study examines the effects of real exchange rate (RER) depreciation shocks on firm-level productivity and employment in Daegu-Gyeongbuk manufacturing industries during 2006-2012. In particular, the study focuses on a sharp and persistent RER depreciation of the Korean Won from 2007 to 2009, which is a situation akin to a natural experiment in Korea. We find that RER depreciation has positive effects on productivity for firms with high export exposure in foreign markets. However, these effects disappear when RER depreciation persists. In addition, we do not find evidence that RER depreciation affects employment of Daegu-Gyeongbuk firms significantly. Firms in Daegu-Gyeongbuk region should pursue core competency to obtain international competitiveness rather than depending on temporary better price condition driven by RER depreciation. Further, policy makers in a local government should provide firms with financial and investment support to encourage innovation and R&D.

• Korean small business review
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• v.42 no.3
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• pp.123-144
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• 2020

This study attempt to use secondary data from KIS-Value to understand how rapid globalization strategy affects BGF's performance defined five categories such as sales volume, return on investment, net profit per employee, increase in sales, and increase in net profit per employee. In particular, this research defines the BGF based on the export ratio within five years after the establishment and classifies BGF into three levels according to 25%, 50%, and 75% concentration of exports. The main results of this study were first, the rapid internationalization strategy was proven to have a sales effect in the short and long term, and in particular, the short term effect was more significantly compared to the long term effect. However, the impact on the return on investment(ROI) of BGF was found that the more stringent the BGF level, the more short-term effect on ROI, but the longer-term effect was diluted according to time. Third, the sales growth rate is significant in the short-term depending on the BGF level, but do not have long-term effects same as ROI. On the other hand, the growth rate of net profit has shown that the BGF strategy has a negative (-) effect over the long term. In particular, the higher the BGF level, the greater the negative impact on the increase in net profit.

• Journal of the Korean Geographical Society
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• v.30 no.3
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• pp.269-295
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• 1995

This research is concerned with the social division of labor within the traditional industry district: Damyang bamboo ware industry district and Yeoju pottery industry district in South Korea, Damyang bamboo ware and Yeoju pottery are well known of the Korean traditional industry. The social division of labor in an industry district is considered as an important factor. The social division of labor helps the traditional industry to survive today. This summary shows five significant points from the major findings. First, Damyang bamoo ware industry and Yoeju pottery industry have experienced the growth stages until 1945, the stagnation in the 1960s, and the business recovery in the 1980s. Most Korean traditional industries had been radically declined under the Japanese colonization; while, Damyang bamboo ware industry and Yeoju pottery industry district have been developed during above all stages. The extended market to Japan helped the local government to establish a training center, and to provide financial aids and technical aids to crafts men. During the 1960s and 1970s, mass production of substitute goods on factory system resulted in the decrease of demand of bamboo ware and pettery. During the 1980s, these industries have slowly recovered as a result of the increased income per capita. The high rate of economic growth in the 1960s and 1970s was playing an important role in the emerging the incleased demand of the bamboo ware and pottery. Second the production-and-marketing system in a traditional industry district became diversified to adjust the demand of products. In Damyang bamboo ware industry district, the level of social division of labor was low until the high economic development period. Bamboo ware were made by a farmer in a small domestic system, The bamboo goods were mainly sold in the periodic market of bamboo ware in Damyang. In the recession period in the 1960s and 1970s, the production-and-marketing system were diversified; a manufacturing-wholesale type business and small-factory type business became established; and the wholesale business and the export traders in the district appeared. In the recovery period in the 1980s, the production-and-marketing systems were more diversified; a small-factory type business started to depend On subcontractors for a part of process of production; and a wholesale business in the district engaged in production of bamboo ware. In Yeoju pottery industry district, the social division of labor was limited until the early 1970s. A pottery was made by a crafts man in a small-business of domestic system and sold by a middle man out of Yeoju. Since the late 1970s, production-and-marketing system become being diversified as a result of the increased demand in Japan and South Korea. In the 1970s, Korean traditional craft pottery was highiy demanded in Japan. The demand encouraged people in Yoeju to become craftsmen and/or to work in the pottery related occupation. In South Korea, the rapid economic growth resulted in incline to pottery due to the development of stainless and plastic bowls and dishes. The production facilities were modernized to provide pottery at the reasonable price. A small-busineas of domestic system was transformed into a small-factory type business. The social division of labor was intensified in the pottery production-and-maketing system. The manufacturing kaoline began to be seperated from the production process of pottery. Within the district, a pottery wholesale business and a retail business started to be established in the 1980s. Third the traditional industry district was divided into "completed one" and "not-completed one" according to whether or not the district firms led the function of the social division of labor. The Damyang bamboo ware industry district is "completed one": the firm within the district is in charge of the supply of raw material, the production and the marketing. In the Damyang bamboo ware district, the social division of labor w and reorganized labor system to improve the external economics effect through intensifying the social division of labor. Lastly, the social division of labor was playing an important role in the development of traditional industry districts. The subdivision of production process and the diversification of business reduced the production cost and overcame the labor shortage through hiring low-waged workers such as family members, the old people and housewives. An enterpriser with small amount of capital easily joined into the business. The risk from business recession were dispersed. The accumulated know-how in the production and maketing provided flexiblility to produce various goods and to extend the life-cycly of a product.d the life-cycly of a product.