• The Journal of Fisheries Business Administration
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• v.46 no.3
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• pp.31-49
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• 2015

This study examines whether or not the South Korean major fishery product import markets; Frozen Pollock, Frozen Long Arm Octopus, and Frozen Hairtail are integrated. We are utilizing the Multivariate and Bivariate Johansen Co-integration test to see if the law of one price(LOP) holds in each market or not. The empirical results show that even though import prices from different countries affect each other in each South Korean major fishery product import market, there is no evidence of LOP in any fishery product import market, which means that none of the markets are integrated. Based on these results, we could expect that the three major fishery product import markets show monopolistic competition among import countries. we would also see whether or not any country plays the role of a price leader in any of the markets. Based on weak exogeneity test results, we might expect that the United States and Malaysia are price leaders in the South Korean Frozen Pollock Import Market and Frozen Long Arm Octopus Import Market, respectively; however, we need to study more on this in the future.

• The Journal of Economics, Marketing and Management
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• v.11 no.4
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• pp.53-63
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• 2023

Purpose: The purpose of this study is to examine the research trends in the papers published by Korean researchers related to traditional markets, to check what topics have been studied, and to make various suggestions for research directions and effective ways to revitalize traditional markets. Research design, data and methodology: To this end, this study conducted word frequency analysis, co-occurrence frequency analysis, BERTopic, LDA, dynamic topic modeling and OLS regression analysis using Python 3.7 on the English abstracts of a total of 502 papers extracted through ScienceON. Results: As a result of word frequency analysis and co-occurrence frequency analysis, it was found that studies related to traditional markets have been conducted not only on factors related to customers, but also on traditional market merchants and government policies, and the degree of service, quality, and satisfaction perceived by customers using traditional markets. Through BERTopic and LDA, three topics such as 'Traditional market safety management' were identified, and among them, it was found that 'Traditional market safety management' is relatively less attention by researchers. Conclusions: The results of this study suggest that future research on the revitalization of traditional markets should be conducted from a specific consulting perspective along with the establishment of various data, a causal model study from various perspectives such as the characteristics of merchants as well as consumers, and an integrated and convergent approach to policy formulation by the government and local governments.

• The Transactions of the Korean Institute of Electrical Engineers A
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• v.53 no.9
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• pp.521-528
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• 2004

The demise of the native franchise markets and the emergence of competitive markets in electricity generation service is substantially altering the way that operation and planning activity is conducted and is making it increasingly difficult for market participants such as generation firms to prospect the future electricity markets. Traditional generation expansion planning (GEP) problems which centrally determine the least-cost capacity addition plan that meets forecasted demand within pre-specified reliability criteria over a planning horizon (typically 10 to 20 years) is becoming no more valid in competitive market environments. Therefore, it requires to develop a new methodology for generation investments, which is applicable to the changed electric industry business environments and is able to address the post-privatization situation where individual generation firms seek to maximize their return on generation investments against uncertain market revenues. This paper formulates a new generation expansion planning problem and solve it in a market-oriented manner.

• Journal of Korean Society for Atmospheric Environment
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• v.29 no.1
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• pp.105-115
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• 2013

The Korean government amended the Environmental Technology and Industry Support Act to foster the environment industry and support the advancement of domestic environmental companies into overseas markets. The amended act reflects changes in the government's policies on environment related issues. This paper uses outcomes of research conducted on environmental policies in foreign countries and the current status of the domestic environment industry to present long-term strategic plans and measures to support the expansion of environmental companies into the global markets and to vitalize the environment industry at home. The suggestions for assisting domestic companies in making inroads into overseas markets are as follows: building up and expanding cooperative network; fostering promising companies and exports by making the right choices and focuses; diversification of export markets and strengthening supports for development of new customers; promoting supports for winning overseas projects; and developing cooperative projects to respond to climate change in developing countries using the Global Climate Fund (GCF).

• Management & Information Systems Review
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• v.30 no.2
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• pp.257-275
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• 2011

The price relationship between the futures market and the underlying spot market has attracted the attention of academics, practitioners, and regulators due to their roles during periods of turbulence in financial markets. The purpose of this paper is to investigate the dynamic of price relationship(or lead-lag relationship) between Korean Treasury Bond futures market and spot market. To examine the nature of the price relationship, descriptive statistics, serial correlation, and cross-correlation are used as a preliminary statistics in the Korean Treasury Bond spot and futures market. Next, following Stoll-Whaley(1990) and Chan(1992), the multiple regression method is used to examine the lead-lag patterns between the two markets. The empirical results are summarized as follows. The mean returns of spot markets and future markets are positive(+) and negative(-) respectively and the standard deviation of both stock and futures returns increase through the sub-periods. For the most periods, there is negative skewness in the both markets. The zero excess kurtosis due to the heavy tails of the distribution are relatively large. The autocorrelations in the spot returns for the sample periods are positive in time lag 1, but the autocorrelations in the future returns shows no significant evidence. The results of the daily cross-correlations between the KTB spot and futures returns indicate that a lead-lag relationship don't exist for price changes of futures and spot markets as a preliminary analysis. Finally, empirical results of regression analysis for both market indicate that there is no evidence that the KTB futures lead the KTB spot market, or the KTB spot market lead the KTB futures market. These results are robust for all sub-periods.

• Proceedings of the Membrane Society of Korea Conference
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• 1991.04a
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• pp.5-8
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• 1991

Membrane techology is reapidly replacing and/or augmenting the traditional separation processes in many industries. In some cases, it opens new markets. Research and development in academia and industry have proven that the new technology is cost effective and viable. The future of membrane technology looks bright.

• Korean System Dynamics Review
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• v.10 no.3
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• pp.105-124
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• 2009

The situation of the global food markets has been being rapidly restructured and entering on a new phase by new dynamic and driving forces. The factors such as economic growth and income increase, high energy price, globalization, urbanization, and global climate change are transforming patterns of food consumption, production, and markets. The prices and markets of world food and energy are getting increasingly linked each other. Food and fuel are the global dilemma issues associated with the risk of diverting farmland or of consuming cereals for biofuel production in detriment of the cereals supply to the global food markets. An estimated 100 million tons of grain per year are being redirected from food to fuel. Therefore, the objectives of this study are as follows: Firstly, the study examines situations of the world food and energy resources, analyzes the trends of prices of the crude oil and biofuel, and formulates the food-energy links mechanism. Secondly, the study builds a simulation model, based on system dynamics approach, for not only analyzing the global cereals market and energy market but also forecasting the global production, consumption, and stock of those markets by 2030 in the future. The model of this study consists of four sectors, i.e., world population dynamics sector, global food market dynamics sector, global energy market dynamics sector, scenario sector of world economic growth and oil price.

• International conference on construction engineering and project management
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• 2005.10a
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• pp.389-396
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• 2005

Despite very good reputation that Korean construction industrial firms had enjoyed until early 1990's in overseas markets, their participation abroad drastically declined after the delivery of two(2) million unit-housing project in the early 1990's and the foreign currency crisis that took place in the late 1990's. The revival of booming construction industry in domestic market is far beyond the expectation due to the long recession of the construction economy and government's severe restriction against real estate development. Under such crucial circumstances, the construction industrial firms' strategy to survive is the more active business promotion in overseas markets. However, the Korean construction industrial firms have to abandon the labor intensive strategy, through that they have enjoyed until the early 1990's, and turn to management oriented strategy which may be a new prosperous horizon and a new challenge as well, because the labor cost of newly developing countries is much more competitive. The aim of this study is to suggest how to cope with current market situations through a chronological survey based on the cost data prevailed during four decades from the 1960's until the 1990's in overseas markets.

• The Journal of Asian Finance, Economics and Business
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• v.6 no.3
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• pp.305-313
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• 2019

The study examines whether higher CEO compensation is related to unobserved future firm performance in an emerging market, Pakistan. Further, it extends its scope to analyzing the impact of group affiliation and ownership concentration on the relationship between CEO compensation and future firm performance. The study uses an unbalanced panel data consisting of 1508 firm-year observations from 225 non-financial listed companies in Pakistan Stock Exchange (PSX) for period 2005 to 2012. The multiple regression models adjusted to heteroskedasticity and autocorrelation in error terms are used. The study finds that, in general, CEO compensation is positively associated with future operating performance. However, higher CEO compensation leads to lower operating performance in firms that have lower ownership concentration and are affiliated with business groups. When firms are not affiliated with any group and have high ownership concentration, the relationship between excessive CEO compensation and future operating performance becomes insignificant. Given that efficient compensation packages may lead to long term value creation to shareholders and reduce agency problems, this study highlights an important moderating role of ownership concentration and group affiliation of the firms in emerging markets.

• The Transactions of the Korean Institute of Electrical Engineers A
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• v.54 no.3
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• pp.139-143
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• 2005

Several methods have been proposed to mitigate the market power in foreign electricity markets. In this paper, Hirfindahl-Hirschman Index(HHI) and supply margin assessment(SMA) are compared based upon the Korean future markets. The results show that SMA is better than HHI to estimate market power because it can reflect congestion and capacity reserve effectively.