• International Commerce and Information Review
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• v.14 no.4
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• pp.317-337
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• 2012

This study has investigated shipping finance systems in Korea and China, and extracted negative factors based on it to propose a way to develop the shipping financial system in Korea for shipbuilding industry and marine transportation. From after the global financial crisis in 2008 to right before the Lehman Brothers Holdings bankruptcy, shipping finance has been dominated by the major industrialized countries in Europe. However, the weight point is moving to the countries in Asia region such as Korea, Japan, and China based on relatively strong banking system and low interests rate. This study focused on the alternatives the current situation that the starter of shipping finance among three countries in Northeast Asia, South Korea is facing China's challenges. In the paper, shipping finance in Korea presented its defectives such as the limits of ship financing, lack of professional workforces, ever-present foreign exchange risks, and lack of understandings of the parties. As the countermeasures of them, it proposed establishing professional institute for ship financing, training professionals in financial industry, raising foreign credentials of won, and continuing associations between the parties. Even though we are the first Asian country introduced ship funds, the ship funds growth in China shall be under our eyes while we keep systemic networks between shipping, ship building, and ship financing.

• Journal of Digital Convergence
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• v.13 no.5
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• pp.119-127
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• 2015

Although it was very long since companies and organizations have been interested in technological innovation or management innovation and many of them have been investing on innovation in convergence industry environment, they could not take differentiated competency and competitive advantage so that they were fallen behind from market by new trends. This research is aiming at deduction of strategies for corporations to keep continuously differentiated competitiveness and competitive advantage. It suggested open innovation activities as basic independent variables. It added global technological alliance known for Open Innovation Alliances to independent variables too. It suggested platform leadership emerging between open innovation activities and digital ecosystem and 6 encroachment types from disruptive innovation theory as control variables. It suggested dynamic competitive advantage as dependent variable for explaining dynamic properties of environment. It analyzed case from 11 researches of open innovation activities, categorized them and verified the appropriacy of the variables. This research contributes to new direction for derivation of strategies and methodologies by which corporations keep competitive advantage in dynamic convergence environment.

• Journal of Digital Convergence
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• v.15 no.4
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• pp.549-554
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• 2017

This study conducted a survey on 319 Chinese women in their 20s to 50s living in three large cities in China, with an aim to analyze the influence on the purchasing behavior and satisfaction for Korean cosmetics depending on their complex purchasing tendencies. According to the research, the rational tendency was higher when the subjects were over 40 years old and married, and the impulsive tendency was the highest in those in their 30s. There was no huge difference in regions depending on the two tendencies, while there were statistically significant differences in purchasing period, times and costs when buying cosmetics. In addition, purchasing satisfaction for cosmetics had a positive correlation with purchasing tendencies. The subjects pursued convenience in purchasing as their rational tendency was higher, while they sought the trends as their impulsive tendency was higher. Based on the results, it is expected to maximize purchasing satisfaction of Chinese female consumers depending on their purchasing tendencies, if the Korean cosmetics makers provide reliable quality assurance, product exchange and customer management services. It is also expected to help revitalize the beauty market for China as well as Southeast Asia, if the Korean cosmetics companies implement differentiated marketing strategies targeting the customers in the age group with the impulsive consumption tendency.

• Journal of Korea Port Economic Association
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• v.27 no.4
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• pp.73-90
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• 2011

Global companies regard the conditions of a location as one of the most crucial factors to assess the competitiveness of ports and the port hinterland, as well as emphasize creation of throughput and the importance of value added logistics in the hinterland under diffusing Supply Chain Management(SCM). This study deals with the evaluation of competitiveness in 7 hinterlands and the establishment of assessment model in hinterland. This study analyzes the importance of factors for the port hinterland competitiveness using AHP method. As a result, logistics factor, accounting for 62.3%, is shown as the relative more important factor, followed by hinterland's economy factors(27.3%) and city/policy factor(10.4%). The result implicates that measures to activate logistics factors with relatively high importance are essentially needed in order to improve the competitiveness of the hinterland of Busan New Port. Especially, it is needed to establish service routes of the port and air networks and to expand infrastructure for support. This study also assesses the competitiveness of hinterlands for the seven domestic and foreign ports based on importance of assessment factors for the hinterland competitiveness using AHP analysis. Busan(3.903) is ranked fourth behind Singapore(4.570), Hong Kong(4.357) and Shanghai(4.042) in assessment.

• Journal of Korea Port Economic Association
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• v.25 no.1
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• pp.63-86
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• 2009

With increasing uncertainty of energy market in the world, the policies for the energy resource security have become crucial Several countries with poor energy resource like Netherlands and Singapore have pursued the policy for becoming an oil hub in the region. Singapore has been an oil hub in East Asia for a long time not only because it is well located with a large number of countries exporting and importing oil but it has also pursued strong policies to become an oil hub while establishing favourable institutional, regulatory and business environment for accommodating major refineries and petro-chemical companies. However with growing trading volume of petroleum products in Northeast Asia and a record high price of oil in these days, the necessities of another oil hub in the region are considered in order to reap benefits of the security of economical and stable oil. South Korea is situated astride the main North Pacific shipping route, with deep water ports and proximity to Chinese and Japanese industrial centres that make tank terminal operators Ideal choices for the oil hub in Northeast Asia although it has several disadvantages such as lack of independent storage facilities, underdeveloped oil trading market and unfavourable business friendly climates etc. This study is focused on examining the globalization strategies of tank terminal operators such as Vopak, Oiltanking and Odfjell in order to suggest the policy implications for becoming an oil tub in Northeast Asia.

• Journal of the Korea Society of Computer and Information
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• v.21 no.6
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• pp.9-19
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• 2016

In finance literature, stock liquidity showing how stocks can be cashed out in the market has received rich attentions from both academicians and practitioners. The reasons are plenty. First, it is known that stock liquidity affects significantly asset pricing. Second, macroeconomic announcements influence liquidity in the stock market. Therefore, stock liquidity itself affects investors' decision and managers' decision as well. Though there exist a great deal of literature about stock liquidity in finance literature, it is quite clear that there are no studies attempting to investigate the stock liquidity issue as one of decision making problems. In finance literature, most of stock liquidity studies had dealt with limited views such as how much it influences stock price, which variables are associated with describing the stock liquidity significantly, etc. However, this paper posits that stock liquidity issue may become a serious decision-making problem, and then be handled by using data mining techniques to estimate its future extent with statistical validity. In this sense, we collected financial data set from a number of manufacturing companies listed in KRX (Korea Exchange) during the period of 2010 to 2013. The reason why we selected dataset from 2010 was to avoid the after-shocks of financial crisis that occurred in 2008. We used Fn-GuidPro system to gather total 5,700 financial data set. Stock liquidity measure was computed by the procedures proposed by Amihud (2002) which is known to show best metrics for showing relationship with daily return. We applied five data mining techniques (or classifiers) such as Bayesian network, support vector machine (SVM), decision tree, neural network, and ensemble method. Bayesian networks include GBN (General Bayesian Network), NBN (Naive BN), TAN (Tree Augmented NBN). Decision tree uses CART and C4.5. Regression result was used as a benchmarking performance. Ensemble method uses two types-integration of two classifiers, and three classifiers. Ensemble method is based on voting for the sake of integrating classifiers. Among the single classifiers, CART showed best performance with 48.2%, compared with 37.18% by regression. Among the ensemble methods, the result from integrating TAN, CART, and SVM was best with 49.25%. Through the additional analysis in individual industries, those relatively stabilized industries like electronic appliances, wholesale & retailing, woods, leather-bags-shoes showed better performance over 50%.

• Journal of the Korean Society of Surveying, Geodesy, Photogrammetry and Cartography
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• v.36 no.4
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• pp.213-221
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• 2018

South Korea has been reluctant to open its geospatial information overseas to ensure security as a divided country. However, this cannot continue as the domestic and international environments related to geospatial information and the industrial ecosystem of information and communication technologies have been changing dramatically. Within this context, this study aims to analyze the causal relations among relevant variables and how they change and interact with time using a systems thinking process. First, causal maps were created for the domains of national security, map-based convergence service, and corporate competition. Then, the causal maps for each domain were integrated, based on which the points for policy intervention and dominant feedback loops were identified. The analysis results showed that securing the self-sufficiency of domestic geospatial businesses is a key element to determine the whole causal map, and the variable that changes the dominant feedback loop from a vicious circle to a virtuous one is the decision to open geospatial information overseas. In this study, I found the policy leverage that is a policy intervention point that can produce a great effect with little input by building a causal map of the interactions between major variables. This study is significant in that it identified and analyzed the dominant feedback loop as to which causal structure would dominate the system in the long term. The results of this study can be used to discuss not only the impacts of map data overseas opening on the national security and geospatial information industry, but also the interactions in the future when Google or other global companies request to release the geospatial information.

• Korean Journal of Construction Engineering and Management
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• v.10 no.6
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• pp.146-153
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• 2009

The year 2008 was a hard year for Korea's construction companies. The real estate downturn resulted in halting new construction and stopping existing work, and inflation of global oil prices caused price hikes in rebar and concrete materials. As a solution to reducing the budget, the newly appointed government announced plans to increase low cost bid contracts from 10 billion to 30 billion won. When such economical and political factors negatively impact the construction market, projects based on low cost contracts are the hardest hit. Many problems already inherent in low cost bid contracts become accentuated. Consequently, this provides an opportune time to actually study and analyze the issues in these projects. This paper introduces the findings made from investigating four projects struggling to make ends meet in the year 2008. Results show that flow of cash (i.e., liquidity), or lack thereof, was the root cause which in turn was hampered by failed mechanisms for design changes, material inflation. Attributing cash flow risk to the bottom of the production structure (i.e., small business subcontractors) was also a problem within the industry. Contractors need a better way to prepare against material price fluctuations, and owners need to assist in expediting payment during times of extreme downturn.

• Korean Journal of Construction Engineering and Management
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• v.15 no.2
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• pp.112-121
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• 2014

After IMF bailout crisis in Korea, project financing has been employed as a major funding vehicle for the housing development. In 2008, the recession of housing market due to the global financial crisis had an significant impact on the increasing insolvent site of PF based housing development project, resulting in serious impact to whole economy as a chain effect. In order to resolve this vicious circle of bankruptcy, the major construction companies were urged to take over the insolvent sites and invest to them for normal project exit, and finally play a critical role in normalization of market. Therefore, this study aims to define the core factors for decision making to invest to insolvent site and find out differences among constructors, developers, financial lenders. The results from AHP analysis, the profitability was the most important factor to constructors. Moreover, even though the location merit is little less, through competitive price, we can assure that stable profitability is most important factor to decide to invest in insolvent site. In conclusion, the price is cheap, is highly feasible, if the land secured, major construction company will participate in a PF business investment. These findings were verified by the investment case of major construction company.

• Journal of the Economic Geographical Society of Korea
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• v.12 no.4
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• pp.438-453
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• 2009

Attracting advanced foreign enterprises into the less-developed regions has gained increasing importance as a regional development strategy in Korea. This study critically examines the foreign-direct investment-led regional development strategy of Wales, United Kingdom. Despite a high FDI inflow in manufacturing, the Welsh regional economy has suffered from specialization in low-skilled assembly with limited R&D activities, insufficient linkage with local domestic suppliers, and violent fluctuation in local employment in response to changes within the global business environment. This tendency shows that the foreign-invested companies have neither locally embedded themselves enough nor created the external agglomeration economies in the region. At the same time, the Welsh local government's excessive dependence on financial incentives packages to induce multinationals, rather than effort to create regional innovative capacity, has resulted in a sizable fiscal loss, an abused local planning process, and subordination of the local government's major administrative decision-making on foreign investors. The Welsh FDI case suggests that an effective FDI attraction policy should include inter-regional cooperation and coordination in the inward investment attraction procedure, a comprehensive land use planning process, and state-level concrete governance on FDI.