• Knowledge Management Research
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• v.22 no.4
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• pp.103-118
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• 2021

Gross Domestic Product(GDP) is affected by the economic power of each industry. Therefore, using statistical data related to the food and drug industry, we tried to determine the proportion of GDP and analyzed the impact of the food, medical & drug industry on the domestic economy through comparison with other industries. The food, medical & drug industry has a wide range of industries among domestic industries and is closely related to the lives of the people. In addition, human lifespan is increasing, and recently, due to the spread of an infectious disease called COVID-19, the bio sector belonging to the food, medical & drug industry is in the spotlight. Attention is needed to the industry as the competitiveness of the food, medical & drug industry is expected to increase. The Ministry of Food and Drug Safety provides statistics on the food, medical & drug industry, but does not provide a systematic share of GDP. Since it is difficult to determine how influential the industry is compared to other industries, this study attempts to obtain the share of GDP in the food, medical & drug industry and compare it with other industries. In the process of obtaining GDP in the food, medical & drug industry sector, there was a difficulty in that the figures in statistical data were not unified by time point. In order to overcome the limitations, statistical data as a standard are determined. The GDP of the Food, Medical & Drug Industry was estimated using total added value, production, sales, and added value by industry. Compared to other industries, the Food, Medical & Drug Industry's GDP ranked second after the GDP of the manufacturing industry. As a result, it suggests that the food, medical & drug industry has a great influence on the national economic power among domestic industries.

• Corrosion Science and Technology
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• v.10 no.2
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• pp.52-59
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• 2011

Corrosion of metallic materials occurs by the reaction with corrosive environment such as atmosphere, marine, soil, urban, high temperature etc. In general, reduction of thickness and cracking and degradation are resulted from corrosion. Corrosion in all industrial facilities and infrastructure causes large economic losses as well as a large number of accidents. Economic loss by corrosion has been reported to be nearly 1-6% of GNP or GDP. In order to reduce corrosion damage of industrial facilities, corrosion map as well as a systematic investigation of the loss of corrosion in each industrial sector is needed. The Corrosion Science Society of Korea in collaboration with 15 universities and institutes has started to survey on the cost of corrosion and corrosion map of Korea since 2005. This work presents the results of the survey on cost of corrosion by Uhlig, Hoar, and input-output methods, and the evaluation of atmospheric corrosion rate of carbon steel, weathering steel, galvanized steel, copper, and aluminum in Korea. The total corrosion cost was estimated in terms of the percentage of the GDP of industry sectors and the total GDP of Korea. According to the result of Input/output method, corrosion cost of Korea was calculated as 2.9% to GDP (2005). Time of wetness was shown to be categories 3 to 4 in all exposure areas. A definite seasonal difference was observed in Korea. In summer and fall, time of wetness was higher than in other seasons. Because of short exposure period (12 months), significant corrosion trends depending upon materials and exposure corrosion environments were not revealed even though increased mass loss and decreased corrosion rate by exposure time.

• Korea Trade Review
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• v.45 no.4
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• pp.65-81
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• 2020

Under New Climate Regime, countries are trying to enhance environmental regulations to meet international standards. This study is designed to examine the relationship between the relative level of environmental regulation of the importing countries and the export performance at the industrial level. Panel data from 2009 to 2018 was established for 12 top export industries and empirical analysis was conducted. For the analysis method, panel OLS, Hausman-Taylor, and panel GLS were used based on the results of the Hausman verification. The dependent variable is the export performance of each industry. As the independent variables, the relative level of environmental regulation, GDP per capita of the importing country, exchange rate, FTA agreement, and physical distance from the importing country were used. Results show that the relative level of environmental regulation has a negative effect on export performance of semiconductors, displays, special machines, general machines, electric appliances, and home appliances. On the other hand, there are no relationship between the relative level of environmental regulation of the importing country and export performance of automobile, petroleum refining, petrochemical, shipbuilding, and communication equipment industries.

• Journal of Navigation and Port Research
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• v.46 no.4
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• pp.375-384
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• 2022

The shipping industry is cyclically impacted by complex variables such as various economic indicators, social events, and supply and demand. The purpose of this study was to analyze the operating profit of 13 Korean liner companies over 30 years, including the financial crisis of the late 1990s, the global financial crisis of the late 2000s, and the COVID-19 global pandemic. This study was conducted to also identify factors that impacted the profit ratio of Korea's liner shipping companies according to economic conditions. It was divided into ocean-going and short-sea shipping, reflecting the characteristics of liner shipping companies, and was analyzed by hierarchical multiple regression analysis. The time series data are based on the Korean International Financial Reporting Standards (K-IFRS) and comprise seaborne trade volume, fleet evolution, and macroeconomic indicators. The outliers representing the economic downturn due to social events were separately analyzed. As a result of the analysis, the China Container Freight Index (CCFI) positively impacted ocean-going as well as short-sea liner shipping companies. However, the Korean container shipping volume only impacted ocean-going liners positively. Additionally, world and Korea's GDP, world seaborne trade volume, and fuel price are factored in the operating profit of short sea liner shipping. Also, the GDP growth rate of China, exchange rate, and interest rate did not significantly impact both groups. Notably, the operating profitability of Korea's liner shipping shows an exceptionally high rate during the recessions of 1998 and 2020. It is paradoxical, and not correlated with the classical economic indicators. Unlike other studies, this paper focused on the operating profit before financial expenses, considering the complexity as well as difficulty in forecasting the shipping cycle, and rendered conclusions using relatively long-term empirical analysis, including three economic shocks.