• Analyses & Alternatives
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• v.2 no.1
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• pp.31-69
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• 2018

This study examines the role of science in resolving trade disputes. After the Great East Japan Earthquake of 11 March 2011 that not only jeopardized the people of Japan, but also put the safety of an entire region at risk, the Republic of Korea (Korea) has imposed import bans as well as increased testing and certification requirements for radioactive material on Japanese food products. Japan has challenged these restrictions at the World Trade Organizations Dispute Settlement Body (DSB). This study aims to explain how international trade agreements and previous DSB rulings have dealt with different scientific viewpoints provided by confronting parties. In doing so, it will contrast the viewpoints espoused by Korean and Japanese representatives, and then analyzes the most similar case studies previously ruled on by the DSB, including the case of beef hormones and the case of genetically modified crops including biotech corn, both between the United States and the European Communities (EC). This study finds that science is largely subordinate to national interests in the case of state decision-making within the dispute settlement processes, and science has largely been relegated to a supportive role. Due to the ambiguity and lack of truly decisive decisions in the Appellate Body in science-based trade disputes, this study concludes that the Appellate Body avoids taking a firm scientific position in cases where science is still inconclusive in any capacity. Due to the panel's unwillingness to establish expert review boards as it has the power to do, instead favoring an individual-based system so that all viewpoints can be heard, it has also developed a system with its own unique weaknesses. Similar to any court of law in which each opposing party defends its own interests, each side brings whatever scientific evidence it can to defend its position, incentivizing them to disregard scientific conclusions unfavorable to their position. With so many questions that can arise, combined with the problems of evolving science, questions of risk, and social concerns in democratic society, it is no wonder that the panel views scientific information provided by the experts as secondary to the legal and procedural issues. Despite being ruled against the EC on legal issues in two previous cases, the EC essentially won both times because the panel did not address whether its science was correct or not. This failure to conclusively resolve a debate over whose science is more scientific enabled the EC to simply fix the procedural issues, while continuing to enforce trade restrictions based on their scientific evidence. Based on the analysis of the two cases of disputes, Korea may also find itself guilty of imposing an unwarranted moratorium on Japan's fish exports, only to subsequently pass new restrictions on labelling and certification requirements because Japan may have much scientific evidence at its disposal. However, Korea might be able to create enough uncertainty in the panel to force them to rule exclusively on the legal issues of the case. This will then equip Korea, like the EC in the past, with a way of working around the ruling, by changing whatever legal procedure they need to while maintaining some, if not most, of its restrictions when the panel fails to address its case on scientific grounds.

• Korea Trade Review
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• v.41 no.5
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• pp.1-14
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• 2016

Consumers have been increasing their interests in firms' ethicality as well as in the features of the firms' products when they decide to purchase a certain product. Recently, fair trade is considered to be a type of ethical marketing in the business-to-consumer market. In this regard, the effects of fair trade-based marketing on firm performance have become the center of academic and managerial concerns. Despite this importance, few studies have investigated whether fair-trade is a source of competitive advantage or just a cost of doing business. The present research attempts to provide evidence of how fair trade-based marketing influences competitive advantage. Two experimental studies were conducted to explore consumers' purchase intention, which can be a proxy of competitive advantage, in a foreign product-consumption context. Drawing on the stakeholder theory, the first study was performed to examine the effects of fair trade marketing on consumers' purchase intention through a within-subjects design. In addition, building on the signal theory, the second study was executed to test the effects of a fair trade mark on consumers' purchase intention. The findings of the current research reveal that consumers prefer fair trade-based products to others and that when it comes to fair trade-certified products, consumers are more likely to purchase products with that certification than otherwise, even when those products are sold at higher costs than rival products. Interestingly, the results of this research present that there is a significant difference of consumers' purchase intention of a fair trade-based product between two different marketers. This implies that fair trade-based products should be differentially distributed and targeted at a certain type of consumers.

• Korea Trade Review
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• v.43 no.1
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• pp.199-221
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• 2018

The internationalization of venture firms is of importance resulting from the increased opportunities as well as the entry barriers faced in this process. This study is to investigate barrier factors affecting Korean venture firms' internationalization. Among these factors, we measured relative weights using Analytic Hierarchy Process (AHP). Literatures regarding global firm's internationalization was reviewed, and barriers were classified environment, corporate and CEO barriers. Multiple variables were used in order to measure their relative significance. We surveyed executives of venture firms comprising two groups: first, 15 global venture firms, and secondly, gradually internationalizing firms. The two groups show contradictory results as environment barriers are the primary for born-global ventures and corporate barriers are the primary for gradually internationalizing ventures. Concerning corporate barriers, the lack of marketing capability is the highest barrier for both groups. The CEO barrier is the lowest for both groups. Regarding corporate barriers, gradually internationalizing ventures considers the risk of business as highest, whereas born-global ventures features the lack of R&D capacity as highest Results of this paper imply that firms should consider priority and sequential approaches in facing environment, corporate and CEO barriers.

• International Area Studies Review
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• v.15 no.1
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• pp.87-106
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• 2011

Using an event study, this paper investigates stock price reactions on Korean listed firms' convertible bond (CB) issue announcements over the sample period of January 2000 to November 2007. This study finds that on the Korean Security market, the CB issue announcements are associated with an increase in shareholder wealth on the announcement date. An information leakage by insider traders is also observable at preannouncement dates. Unlike the prior studies that indicate a prevailing negative effect on the announcements, this paper shows that domestic CB issue announcements as well as offshore ones yield a positive impact on the stock prices. This presents that in terms of stock price reactions to the CB issue announcements, the two CB issue markets show the positively same effects on shareholder wealth for the post-2000 period. For its drivers, this paper suggests that on the Korean market, firm size have negative relationship with the increase in the wealth incurred by the announcements. By contrast, an issue to maturity, a growth opportunity, and a relative issue size make a positive impact on it.

• Asia Marketing Journal
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• v.10 no.2
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• pp.31-69
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• 2008

The purpose of this study is to identify the organizational characteristics that enhance CRM performances of a company. Based on a review of diverse definitions of CRM performance, this study examines the relationships among CRM performance measures and organizational characteristics. A questionnaire survey of 123 CRM managers of Korean companies was conducted to test the proposed research model, and a series of structural equation modeling identified the strong effects of organizational characteristics on CRM performance. It was found that top management commitment to CRM and a firm's strategic readiness lead to high levels of CRM investment, which, in turn, enhance directly task-related performance and indirectly customer-related performance. This study also confirmed that customer orientation is significantly related to task-related CRM performance and that the variables of CRM commitment and organizational culture may enhance customerrelated performance indirectly through their effects on the task-related performance. However, organizational members' resistance to change was found to have no effects on CRM performance. Overall our research broadly supports the role of organizational characteristics revealed in the CRM literature.

• Korean small business review
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• v.40 no.1
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• pp.25-52
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• 2018

The purpose of this study is to investigate the relationship between supply chain sustainability antecedent, supply chain competence, and supply chain sustainability. The relationship between supply chain sustainability antecedence factor and supply chain competence, supply chain competence and supply chain sustainability and to identify the differences between sustainability antecedence factors, capacity and sustainability depending on the size of the firm. To accomplish this, each research hypothesis was established and the results are as follows. First, compliance with environmental regulations, NGO response activities, CSR activities, and trade fairness were found to have a significant positive impact on manufacturing agility, environmental management, and social capital. And manufacturing agility, environmental management, and social capital has been confirmed that most of the economic, environmental and social sustainability have a significant positive influence. In addition, it has been confirmed that there are differences in the factors of supply chain sustainability, capacity, and sustainability depending on the size of the company. According to the results of the study, environmental regulation compliance, NGO response activities, CSR activities, and fairness factors selected as the leading factors of supply chain sustainability play a role as fundamental prerequisites for supply chain competence to achieve sustainability. Manufacturing agility, environmental management, and the formation of social capital have confirmed that they can raise the level of economic, environmental and social sustainability. Therefore, it was confirmed that the enhancement of supply chain sustainability precedence factors can lead to enhancement of supply chain competence, and furthermore, sustainability of supply chain. Compared with large corporations, SMEs' supply chain sustainability precedence factor, capacity and sustainability should be further improved.

• Korean small business review
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• v.42 no.3
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• pp.173-193
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• 2020

This study analyzes the effects of KOSDAQ-listed firms' convertible bonds, which have recently increased rapidly in number and size. Although KOSDAQ companies are called mid-size companies, KOSDAQ companies belong to SMEs. Furthermore, convertible bonds have traditionally been a critical capital raising tool for SMEs in the US and Europe. In Korea, KOSDAQ companies actively employ convertible bonds. Convertible bonds provide investment incentives for hesitant investors, allowing companies to raise capital at low interest rates. This study analyzes whether capital raising through issuance of convertible bonds by KOSDAQ companies affects their financial constraints. Financial constraints result from incomplete capital markets, which are embedded in most companies and countries.. In particular, financial constraints have a significant impact on the growth and survival of SMEs. The seminal study FHP(1988) is the most important and effective study of firm's financial constraints. We find that FHP's financial constraint measures show that convertible bond issuance would mitigate the financial constraints of KOSDAQ companies. However, the significance of the evidence is not strong.

• Information Systems Review
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• v.19 no.4
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• pp.1-25
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• 2017

Despite high uncertainty on financial return, firms have continuously increased their investment on technologies because they recognize the potential value of technology investment in terms of enhancing operational efficiency and sustaining competitive advantage. Notably, an individual technology investment pattern or strategy within an industry may ultimately lead to significant differences in business performance. Hence, we first categorized technology investment into traditional research and development investment and information technology investment. Afterward, we examined the effects of each pattern with combination of the two types of technology investment on business performance according to firm size and position in the supply chain through fuzzy-set qualitative comparative analysis. Data collected from 562 manufacturing firms in Korea were used in the analysis. Results showed that large-sized firms were slightly affected with microscopic patterns in their technology investments, whereas small firms were highly affected with their technology investment patterns and their positions in the supply chain. The findings implied that a small enterprise requires an appropriate technology investment strategy to achieve successful business outcomes.

• Information Systems Review
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• v.20 no.2
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• pp.87-110
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• 2018

This study reviews previous studies about the effects of RFID capabilities on strategic supply chain competence and business performance in the Chinese context. This study introduces a new perspective that measures the degree to which RFID capability levels contribute to business performance. Such an assumption is based on the fact that companies build their own capabilities through RFID capabilities and that these capabilities provide a competitive advantage for enterprises. Data on all sorts of logistics, distribution, and manufacturing companies that introduced RFID system in China were collected for data analysis. This study analyzes the structural equation modeling using Smart-PLS 2.0 program. This study confirms that internal reliability, convergent validity, and discriminant validity are satisfied. The hypothesis test result on the relationship between RFID capacity and strategic supply chain competence and strategic supply chain competence and company results is partially adopted. This study aids in establishing a RFID system construction strategy to enhance supply chain competence by suggesting guidelines for the successful introduction of RFID system through identifying the causal relationship between RFID capacity and strategic supply chain competence. This study also suggests the influence of RFID competency on visibility, agility, flexibility, and collaborations.

• Journal of Preventive Medicine and Public Health
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• v.27 no.4 s.48
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• pp.711-734
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• 1994

Among chemical agents in herbicides, dioxin (2, 3, 7, 8-tetrachloro dibenzo-$\rho$-dioxin : TCDD), a chemical contaminant in herbicides sprayed during the Vietnam War has been known to be the major agent causing toxic effects. Approximately 320,000 korean soldiers participated the Vietnam War from 1964 to 1974. Although the potential hazards of the herbicides among Korean veterans exposed were implicated, the problem had not been a public issue until 1991 when Korean veterans were informed U.S. companies, the herbicides manufacturer payed fund, from which a trust fund for New Zealand and Australian Class members were established in 1985. After a series of appeals and demonstration by the Korean Veterans demanding medical care and compensation for their serious health damages, a bill of medical care and compensation for herbicides victims was promulgated in March 1993 and become effective from May 1993, This study was carried out with two major objectives : the first to understand the health problems caused from the herbicides by reviewing literatures published, and the second to examine the nature and extent of health impacts among Korean veterans exposed and to develop valid study methods for the major study by interviewing and reviewing records on a part of veterans (638 persons) registered and completed medical examination in Seoul Veterans Administration Hospital from June to October 1993. The results obtained are as followings: 1. The literature review of 107 papers revealed that 1) Dioxin is teratogenic, carcinogenic and affects almost all organs including nervous, endocrine, and reproductive systems in animal experiments. 2) The diseases showing evidence of causal association were Hodgkin's disease, non-Hodgkin's disease, lung cancer, lymphoma, soft tissue sarcoma, chloroacne and polyneuropathy when judged on the basis of consistency in study results and biological plausibility. 2. Interview and medical record review study on 638 veterans, though limited validity owing to lack of control group, crude estimates of dioxin exposure levels (no biomarkers measurable), and uncertainty of diagnosis, showed that: 1) Most of the study subject's were in their 40's of age and had been dispatched to Vietnam during the period from $1965{\sim}1970$ around one year. 2) Most frequently complained symptoms in medical examination were motor weakness (32%), sensory abnormalities in extremities (23%), skin diseases (22%), and pain in extremities (20%) whereas in Interview they were more frequent in order of skin problem (44%), motor weakness (38%), sensory abnormalities and pain in extremities(17% and 19% each). Kappa indices on the same category of complaints between two sources of information were variable and relatively low. 3) On medical examination, only a part of the 638 subjects had initial impression (442 pts) and final diagnosis (218 pts) suggesting decision making on diagnosis appeared to be difficult even with all available modern medical technologies: in initial impression disorders from peripheral and central neuropathy were predominant whereas in final diagnosis various types of skin disorder were most frequent 4) When dose-response relationship between several conditions (from questionnaire) and arbitrary exposure scores were examined by CMH linear trend test, spontaneous abortion, sexual problems and health problem of offsprings showed statistically significant linear trends. However, pregnancy, accident and suicidal attempts did not show any relationship in this study capacity. 5) Among complaints, psychosis and neurosis (anxiety, phobia) in interview study, and memory disorder and psychosis in medical record study revealed linear trend. 6) Skin disorder was the only condition showing linear trend in initial impression and none in final diagnosis on medical examination. Even though objective to select out dioxin-related disease or group of diseases from this study was not achieved the research experiences provided firm basis for developing various methodological approaches. 3. From this preliminary study we concluded that a larger scale major epidemiologic study on health impacts of herbicides among Korean veterans exposed is not only Indispensible but also well designed study with more valid exposure information and diagnosis may be able to establish causal relationship between certain groups of diseases and exposure to the herbicides among Korean veterans.