• Title/Summary/Keyword: Export Strategy

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A Study on the Thai Consumers' Perception and Willingness to Pay for Korean Paprika and Tomatoes (태국 소비자의 한국산 파프리카 및 토마토에 대한 인식과 지불의사에 관한 연구)

  • Lee, Je-Yun;Lee, Choon-Soo
    • Korean Journal of Organic Agriculture
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    • v.31 no.1
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    • pp.1-27
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    • 2023
  • This study investigated Thai consumers' perception and willingness to pay for Korean paprika and tomatoes to establish effective export strategies, To this end, an online survey was conducted on 300 consumers living in Bangkok, Thailand, and the factors affecting the purchase intent and willingness to pay price premium for Korean paprika and tomatoes were analyzed. The results are as follows. First, Thai consumers usually buy fruit and vegetables offline, such as supermarkets and large discount stores, but not a few respondents obtained purchase information online. Second, the price competitiveness of Korean paprika and tomatoes is low to Thai products, and the quality, safety, freshness, and cost-effectiveness are similar or low to other exporting countries. Therefore it is important to improve non-price competitiveness using positive perceptions of Korean products and Korean Wave. Third, the most important reason why Thai consumers not buying Korean paprika and tomatoes is the lack of stores and high prices. Fourth, as a result of analyzing the factors affecting the purchase intent for Korean paprika and tomatoes, the strategy of selling paprika and tomatoes through supermarkets to consumers with high income is effective. Fifth, considering the factors of willingness to pay premium prices for Korean paprika and tomatoes, a high pricing strategy targeted consumers with high income and many family members is appropriate.

A Study on the Strategy of Technological Innovation to Enforce International Competitive Power for the Factory Automation - in the Industry of Automated Transportation and Stevedoring Machinery (국가 경쟁력 강화를 위한 공장자동화의 기술개발 전략에 관한 연구 - 운반 하역 기계 산업 중심으로)

  • 신용하;이근희
    • Journal of Korean Society of Industrial and Systems Engineering
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    • v.18 no.36
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    • pp.205-218
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    • 1995
  • The trends of economic business environment have been changed to the ultimate competion, diverse market and need of new technology. To enforce the international competitive power, continuous technology innovation should be propelled. But the characteristics of small and medium company make it hard to get lead of market share. The industry of transportation and stevedoring machinery also have the same situation as small and medium company. This paper try to present the way of competitive power. The Strategic technology innovation for the industry of transportation and stevedoring machinery consists of product strategy, process design strategy, infra-structure strategy and R&D. There are benefits and shortcommings to get the competitive power for the industry of transportation and stevedoring machinery. Therefore the onclusion presented that capital for reverse engineering, export policy, human resource, thechnical cooperation with the institutions are required.

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A Study on Aquaculture Policy among Japan's Fisheries Policy Reform (일본의 수산정책개혁 중 양식업 정책에 관한 연구)

  • Jung-Hun Song
    • The Journal of Fisheries Business Administration
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    • v.55 no.1
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    • pp.1-20
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    • 2024
  • Among Japan's agriculture, forestry, fisheries and regional revitalization plans established in June 2018, the key matters related to aquaculture include ① a new perspective on the sponge use system for the development of aquaculture and coastal fisheries, ② a comprehensive strategy for growth and industrialization of aquaculture, and ③ expansion of suitable aquaculture areas. There are four countermeasures including ④ research and development trends. In accordance with these key points, the Japanese government established a comprehensive strategy for aquaculture growth and industrialization by strategically setting aquaculture items in consideration of domestic and international demand, establishing a comprehensive strategy from production to sales and export, and then working in earnest to promote the aquaculture industry. This study analyzes environmental changes surrounding aquaculture in Japan and trends in fish farming and marine products, and summarizes the key points of the June 2018 Agriculture, Forestry, Fisheries and Regional Revitalization Plan to suggest measures that can be utilized in Korea's aquaculture policy.

Competitiveness Comparison between Korea and Japan in the Spectacles Industry (한국과 일본 안경산업의의 경쟁력 비교)

  • Lim, Jun-Hyeong;Hyun, Sung-Cheol
    • Journal of Korean Ophthalmic Optics Society
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    • v.15 no.1
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    • pp.19-23
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    • 2010
  • Purpose: The aims of this paper are to assess the competitiveness about the spectacles industry of Korea against Japan. Methods: We use export competitiveness indexes such as market share index, trade specialization index and market comparative advantage index to evaluate the competitiveness of spectacles industry of Korea against Japan. Results: This paper shows that the comparative advantage of the Spectacles industry of Korea in MC(market comparative advantage) against Japan arc spectacles lenses and contact lenses. Furthermore, it can also be known that the spectacles lenses and contact lenses have export competitiveness in the TSI (trade specialization index) against Japan. Conclusions: We need to choose spectacles lenses and contacts lenses as the main export items against Japan in the spectacles industry of Korea. Along with this, we need to improve the image of the Spectacles industry in Korea; after that, we have to create a strategy that would strengthen export competition in other items.

Export Prediction Using Separated Learning Method and Recommendation of Potential Export Countries (분리학습 모델을 이용한 수출액 예측 및 수출 유망국가 추천)

  • Jang, Yeongjin;Won, Jongkwan;Lee, Chaerok
    • Journal of Intelligence and Information Systems
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    • v.28 no.1
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    • pp.69-88
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    • 2022
  • One of the characteristics of South Korea's economic structure is that it is highly dependent on exports. Thus, many businesses are closely related to the global economy and diplomatic situation. In addition, small and medium-sized enterprises(SMEs) specialized in exporting are struggling due to the spread of COVID-19. Therefore, this study aimed to develop a model to forecast exports for next year to support SMEs' export strategy and decision making. Also, this study proposed a strategy to recommend promising export countries of each item based on the forecasting model. We analyzed important variables used in previous studies such as country-specific, item-specific, and macro-economic variables and collected those variables to train our prediction model. Next, through the exploratory data analysis(EDA) it was found that exports, which is a target variable, have a highly skewed distribution. To deal with this issue and improve predictive performance, we suggest a separated learning method. In a separated learning method, the whole dataset is divided into homogeneous subgroups and a prediction algorithm is applied to each group. Thus, characteristics of each group can be more precisely trained using different input variables and algorithms. In this study, we divided the dataset into five subgroups based on the exports to decrease skewness of the target variable. After the separation, we found that each group has different characteristics in countries and goods. For example, In Group 1, most of the exporting countries are developing countries and the majority of exporting goods are low value products such as glass and prints. On the other hand, major exporting countries of South Korea such as China, USA, and Vietnam are included in Group 4 and Group 5 and most exporting goods in these groups are high value products. Then we used LightGBM(LGBM) and Exponential Moving Average(EMA) for prediction. Considering the characteristics of each group, models were built using LGBM for Group 1 to 4 and EMA for Group 5. To evaluate the performance of the model, we compare different model structures and algorithms. As a result, it was found that the separated learning model had best performance compared to other models. After the model was built, we also provided variable importance of each group using SHAP-value to add explainability of our model. Based on the prediction model, we proposed a second-stage recommendation strategy for potential export countries. In the first phase, BCG matrix was used to find Star and Question Mark markets that are expected to grow rapidly. In the second phase, we calculated scores for each country and recommendations were made according to ranking. Using this recommendation framework, potential export countries were selected and information about those countries for each item was presented. There are several implications of this study. First of all, most of the preceding studies have conducted research on the specific situation or country. However, this study use various variables and develops a machine learning model for a wide range of countries and items. Second, as to our knowledge, it is the first attempt to adopt a separated learning method for exports prediction. By separating the dataset into 5 homogeneous subgroups, we could enhance the predictive performance of the model. Also, more detailed explanation of models by group is provided using SHAP values. Lastly, this study has several practical implications. There are some platforms which serve trade information including KOTRA, but most of them are based on past data. Therefore, it is not easy for companies to predict future trends. By utilizing the model and recommendation strategy in this research, trade related services in each platform can be improved so that companies including SMEs can fully utilize the service when making strategies and decisions for exports.

Selection Factors for Distribution Partners for the Market Entry in Southeast Asia

  • Choi, Eun-Mee;Kwon, Lee-Seung;Kwon, Nam-Hee;So, Young-Jin
    • Journal of Distribution Science
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    • v.16 no.5
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    • pp.17-29
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    • 2018
  • Purpose - This study analyzed the success strategy of Korean small & medium cosmetics exporting companies to enter the Southeast Asian market. Research design, data, and methodology - The independent factors are classified into firm capacity, financial factor, institutional factor, and operational factor. The results of the selection of distributor partners of cosmetics related export companies as a were classified as financial performance and non - financial performance. In order to analyze this, 65 Korean small and medium export companies were recruited through structured online questionnaire for 44 days from September 18, 2017 to October 31, 2017. These data were analyzed by frequency analysis, correlation analysis, factor analysis and regression analysis using SPSS. Results - The Cronbach's alpha coefficient was found to be 0.846. Factor analysis between variables revealed that the eigen value exceeded 1 and was considered valid. As a result of the correlation analysis between the variables, the financial factor and the corporate's competence showed the highest correlation with 0.774. Conclusions - Among the factors influencing the financial performance of the exporting firms, the factors influencing the financial performance of the exporting companies are the factors that influence the non - financial performance rather than the financial performance.

Mitigating Economy Risk in The Digital Era Through Export Diversification

  • RENTNOSARI, Lili;RAMANA, Febria
    • The Journal of Industrial Distribution & Business
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    • v.10 no.9
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    • pp.19-24
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    • 2019
  • Purpose - In the digital era, technology advancement enables goods and services to be produced more efficiently but also create economy risk in the global economy including Indonesia. Previous studies stated that the risk can be mitigated through export diversification. This study investigates strategy to expand the markets for existing products and explore the potential market. Research design, data, and methodology - The criteria was followed using a review and considerations combination through the Focus Group Discussion (FGD) to determine the priority product in trading house of Indonesia. This study implemented market share to explore those products' markets and compare it to other ASEAN countries. Results - The Indonesian potential products are T-shirts, singlets and other vests of textile materials, knitted or crocheted (excluding cotton); food preparations; medicaments consisting of mixed or unmixed products for therapeutic or prophylactic purposes; soap in the form of flakes, granules, powder, paste or in aqueous solution; and cocoa powder, not containing added sugar or other sweetening matter. The market analysis also showed that Indonesia still had not optimally accessed yet the largest market in the world for each product. Conclusions - The government should focus more on increasing the competitiveness of those products, particularly in those global marketplaces.

Entry to Chinese Market for Korean Fashion Brands: Current Situations and Suggestions of Marketing Strategies (국내 의류브랜드의 중국진출 현황 및 마케팅전략 제안)

  • 고은주;송윤아
    • Journal of the Korean Society of Clothing and Textiles
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    • v.28 no.2
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    • pp.212-223
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    • 2004
  • The purpose of this study is 1) to identify Chinese environment for investment and apparel market, 2) to analyze the current situations of Korean fashion brands'entry to Chinese market, 3) to analyze the marketing strategies to China according to product category, and 4) to identify merits and problems of Chinese market. For data collection, secondary resources were collected, and the telephone interview with merchandisers were implemented with brand managers. Twenty-one fashion brands were included for the study. Results of the study were as followed: 1) China was a big potential apparel market due to its rapid economic growth. Apparel purchase behavior and clothing preference of Chinese consumers were various by regional groups. 2) The motives of entry to China were to competition in domestic markets, saving raw material cost. The entry modes to China were direct export, license and regional manufacturing system. 3) Marketing strategies were to pursue high quality branding, high pricing and placing strategies with high-class department stores. Also star marketing were used with "Han Rue". Also various promotion strategies were implemented such as fashion show and unique VMD. 4) The merits of Chinese market were high potential market for export, close proximity, cultural similarity and Han-Ryu syndrome. Problems of Chinese market for export were lack of experts on Chinese market, fierce competition in China, and unstable economic policies.

Impact of US-China Trade War on Stock Price of Korean Exporting Firms (미·중 무역분쟁이 한국 수출기업 주식가격에 미치는 영향)

  • Yoo-Kyung Won;Chae-Deug Yi
    • Korea Trade Review
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    • v.45 no.1
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    • pp.173-201
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    • 2020
  • As the US's trade deficit with China and China's manufacturing industry has risen rapidly, the US has begun to regulate trade items as part of China's checks. Four rounds of reprisal measures have greatly altered the trade structures of both countries. In particular, Korea, which is highly dependent on the US and China, has been directly affected by US-China trade disputes. The purpose of this study was to analyze the effects of US-China trade disputes on the stock price of Korean export firms by performing an event study. This study analyzed stock price fluctuations for 7 days before and after entry into forced [Please check] retaliatory tariffs on Korean exporters' export items subject to retaliatory tariffs. According to the analysis results, among companies that produce goods with major tariffs imposed on China by the US, such as electronic appliances, semiconductors, machinery, and automobiles, those producing electronics and semiconductor products were positively affected by the tariff incident. Secondly, among the companies producing steel, chemicals, and machinery, which the main tariffs imposed by the United States, companies producing steel and chemicals were negatively affected by the incident due to the stagnation of trade between China and the US. The results of this study suggest future trade policy directions for Korea and help to establish an export strategy for major industries.

A Study on the Facilitation Strategies of e-Trade in the Korean SMEs (중소기업의 전자무역(e-Trade) 활성화 방안에 관한 연구)

  • Choi, Jang-Woo
    • International Commerce and Information Review
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    • v.5 no.1
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    • pp.63-83
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    • 2003
  • This paper's objective is to provide insights about the problems and expansion strategies of electronic trade. Korean small and medium-sized firms have adopted the Internet since the end of 1990s in order to reshape their competitiveness, and it is now being utilized as a major export marketing instrument to develop new customers, save export transaction costs ad facilitate new work processes. However, at present, the use of the internet in the field of trading is limited to the collection of market information, owing to legal, technical and institutional restraints between countries. In addition to that, because firms have the difficulties in making the trade contract through the e-trade system, the negative recognition on its' utility has been spreaded gradually between companies. This is one of the barriers to block the expansion of e-Trade between Korean firms. Therefore, this paper points out the problems of e-trade in the environmental, institutional and strategic view and provides many considerations for establishing the expansion strategy of e-trade by the Korean government and trade supporting institutions.

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