• Journal of Distribution Science
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• v.11 no.4
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• pp.81-88
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• 2013

Purpose - This paper analyzes the influence of the RMB internationalization on the KRW/dollar exchange rate using an autoregressive distributed lag model. Comparing the parameter estimators from the sample period before and after the global financial crisis, we found that the RMB/dollar exchange rate has increasingly become more influential on the KRW/dollar exchange rate. Moreover, for the past several years, the Chinese government has actively utilized the financial service FTA negotiation as a measure for the RMB internationalization. This paper simultaneously considers RMB internationalization and financial service negotiations in the Korean-Chinese FTA. The purpose of this paper is to explicitly suggest a direction for the financial service negotiations in the Korean-Chinese FTA considering the effects of RMB internationalization. Research design, data, and methodology - The research plan of this paper has two parts. First, for an empirical study, this paper uses the daily exchange rate of the U.S. dollar against the currencies of the ASEAN5, Taiwan,and Korea. By using an autoregressive distributed lag model, this paper studies the influence of the change in the RMB/dollar exchange rate on changes in the local currency/dollar exchange rate in seven economies neighboring China. Our sample periods are 06/2005 - 07/2008 and 06/2010 -02/2013. During these periods, China was under the multi-currency basket system. We exempted the period of 08/2008 - 05/2010 from the analysis because there was nearly no RMB/dollar exchange rate fluctuation during those months. Second, after analyzing the recent financial service liberalizations and deregulations in China, we recommend a direction for the financial service negotiations in the Korean-Chinese FTA. In the past several years,the main Chinese financial policy agenda has surrounded the RMB internationalization. Therefore, it is crucial to understand this in the search for strategies for the financial service negotiations in the Korean-Chinese FTA. This paper employs an existing literature survey and examines the FTA protocols in its research methodology. Results and Conclusions - After the global financial crisis, the Chinese government wanted to break away from the dollar influence and pursued independent RMB internationalization in order to continue the growth and stability of its economy. Hence, every neighboring economy of China has been strategically impacted by RMB internationalization. Nevertheless, there is little empirical study on the influence of RMB internationalization on the KRW/dollar exchange rate. This paper is one of the few studies to analyze this problem comprehensively. By using a relatively simple estimation model, we can confirm that the coefficient of the RMB/dollar exchange rate has become more significant, except in the case of Indonesia. Although Korea is not under the multi-currency basket system but under the weakly controlled floating exchange rate system, its coefficient appears as large as that of the ASEAN5. This is the basis of the currency cooperation that has grown from the expansion of trade between the two countries. These empirical results suggest that the Korean government should specifically consider the RMB internationalization in the Korean-Chinese FTA negotiations.

• Journal of Internet Computing and Services
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• v.12 no.1
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• pp.85-98
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• 2011

Recently, the world faces a global environmental crisis by the increase of energy consumption and global warming. Since the crisis directly affects political, economic, social, and environmental areas, many countries prepare Green ICT policy to overcome it. However, although Green IT policy provides many benefits by solving environmental pollution and increasing energy efficiency, Korean government did not prepare measures by the policy. The purpose of this study is to suggest priorities of political goals for maximizing the efficiency after introducing Green ICT policy in Korea. Major variables are drawn for the analysis, and they are eco-friendliness, technology evolution, economic efficiency, energy efficiency, and stable supply of energy. The variables are suggested based on 'Low Carbon, Green Growth Act', then the survey was conducted to policy expert using AHP(Analytic Hierarchy Process) and ANP(Analytic Network Process) for prioritizing variables. As a result of the AHP, it is derived in the order of eco-friendliness, technology evolution, economic efficiency, energy efficiency, and stable supply of energy. The ANP result shows in the order of technology evolution, energy efficiency, economic efficiency, eco-friendliness, and stable supply of energy. The research is conducted to analyze the priorities of goals for Green IT policy, and the analysis results are possible to use as a practical guideline for establishing associated policies in the future.

• Management & Information Systems Review
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• v.33 no.1
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• pp.83-97
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• 2014

This study examined the effects institutional block ownership on the stock market liquidity in Korean Stock Market. The two measures of institutional block ownership are used. They are the percentage of a stock owned by institutional blockholder and the number of institutional blockholder that own the stock. This study used the Amihud(2002) illiquidity measure to measure stock market liquidity. The results are as fellows. First, this study showed that the number of institutional blockholder is significantly negatively correlated with the Amihud(2002) illiquidity measure in the analysis which is used the whole data. But we found no a consistent results between the number of institutional blockholder and the Amihud(2002) illiquidity measure in the grouped institutional blockholder's number analysis. This indicates that the effects institutional blockholder on market liquidity is not simple. Second, this study showed that the percentage of a stock owned by institutional blockholder are negatively related with Amihud(2002) illiquidity measure, especially revealed statistically significant in the group 3(11.71%~17.38%) and group 4(7.45%~11.65%). This results suggest that the institutional blockholder have positive effect on the market liquidity in the group 3 and 4. Third, the significance of the percentage of institutional block ownership and the number of institutional block ownership in explaining illiquidity are more showed in the term of the global financial crisis(2008) than the before and the after of the global financial crisis.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.15 no.2
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• pp.609-615
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• 2014

Due to the recent global recession, the car industry demand levels have plummeted which led to a crisis in the automotive parts industry for the first time in history. Since the fourth quarter of 2008, the automotive parts manufacturers in America have faced a record loss and those in Japan and Europe who also had a strong track record are facing a weak economy. In addition, the domestic automotive parts industry is also affected by the global economic crisis. This research is that the relative efficiency analysis utilizing the DEA has done on the object of 25 small and medium-sized automotive parts manufacturers publicly listed, As the efficiency analysis result 6 of 25 manufacturers are efficient in CCR model and 12 manufactures have shown efficiency in BCC model, the efficiency analysis in consideration of the manufacturer size. The manufacturers with efficiency 1 in 25 manufacturers are DMU 1, 5, 7, 10, 18, 24 and the relatively benchmarking objects in other manufactures are DMU 1, 10, 24, Based on the results of this research, a direction to the domestic automotive parts manufacturers as well as a significant information will be provided in managing the companies in the future by the improvement of management efficiency through the practical efficiency analysis.

• Journal of the Economic Geographical Society of Korea
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• v.24 no.1
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• pp.76-101
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• 2021

This paper analyzes two cases of space tokenization, Meridio and QuantmRE, to explore the potential of tokenization as a new means of space financialization. Space tokenization is based on blockchain technology and security token offering (STO). Although some financial geographers noted the possible impact of blockchain technology on space financialization, it has not been examined in depth. Therefore, this paper demonstrates space tokenization cases in detail. Meridio and QuantmRE suggest financial structures that convert space into tokens based on fractional ownership transactions. QuantmRE, specifically, allows a homeowner to secure cash without either debt or ownership relinquishment through sales of tokenized home equity. As this method takes a form of sale transaction rather than a loan, it enables financial institutions to circumvent strengthened regulation on loans after the 2008 global financial crisis. Moreover, even "house poor" households, who own houses but lack cash due to excessive loans, can cash out from their properties through QuantmRE. As such, space tokenization enables financial institutions to overcome constrained conditions after the global financial crisis, thereby reproducing space financialization. Space tokenization also has the potential to geographically expand space financialization through stimulating investment in the depressed housing market.

• The Korean Journal of Archival Studies
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• no.68
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• pp.205-241
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• 2021

This article explores how to incorporate the topic of the global environmental crisis called the "anthropocene" into archives studies and connect it to ecological practical reasons. In order to encourage discussion of archival studies, which puts the environmental crisis at a kind of archive constant value, this study seeks to examine the possibility of a quality shift in archival studies based on ecology. This article aims to go beyond the pragmatism of preparing improvements to eco-friendly record management, which is recently claimed by the "Green Archive" in Western archival studies. It calls for a new concept called 'ecological archive', which theoretically combines a more archives-based and ecological paradigm, and its epistemological transformation. Specifically, the ecological approach of archives is first discovered in the discussion of archival studies and at the same time, through the "ecological turn" of archives emphasized by recent anthropocene discourses, the concept of "ecological archive" emphasized by this article is embodied. This study uses 'ecological archive' as a universal and theoretical framework for archives as a basic concept for building ecological 'living' archives. In other words, for the construction of ecological archives, we reinterpret and extend so-called democratic values for archives, i.e., post-custodianship, community archives, and archives of emotions. Finally, the records of foot-and-mouth disease killing burial sites, an important site and example of the anthropocene tragedy, exemplifies the methodology of the actual application of ecological living archives. The case analysis aims to seek a new qualitative shift in record management that adapts to global ecological transformation, while also emphasizing the documentation by archival activism in ecological field practices jointly organized by archivists and citizens.

• Korean Journal of Construction Engineering and Management
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• v.22 no.2
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• pp.106-118
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• 2021

Global governments and initiatives have attempted and integrated various organizational efforts to implement the 17 Sustainable Development Goals (SDGs), presenting a new paradigm of sustainable development to address global issues (climate change, poverty eradication, and human rights). Recently, investment in sustainable finance has expanded to finance the attainment of goals set out in the Paris Agreement and SDGs. Non-financial factors such as environment, social responsibility, and governance (ESG) have become intangible assets that determine the future competitiveness and profitability of companies. Domestic and foreign institutional investors and asset management companies have been expanding their investments based on the ESG performance of companies. In this study, we aim to derive international standards and initiatives that require disclosure of information on corporate social responsibility activities and ESG performance and analyze construction companies' ESG activities and performance levels. The results of this study can be used as the basis to develop platforms for the construction industry ESG ecosystem and the measurement and management of intangible assets. These could ultimately contribute to overcoming the crisis in the future due to the outbreak of the COVID-19 pandemic, fostering net-zero emissions, and preventing fatal workplace accidents in the construction industry.

• The Southeast Asian review
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• v.20 no.3
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• pp.183-222
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• 2010

본 연구의 목적은 2008년 후반에 발생한 국제금융위기에 대응하여 조직 개편을 선택한 기업과 그 기업 내의 근로자들 실태 파악을 하는데 있다. 특히 기업구조조정 명목으로 단행된 해고를 모면한 근로자들 (생존자)의 상태를 그들이 지각하는 각 개인의 관리자에 대한 만족도와 그들의 직무관련태도인 직무만족, 조직적 몰입 그리고 이직 의도 간의 관계 관점에서 살피고자 한다. 관리자에 대한 만족도는 근로자들의 직무 관련 태도 변수와 관련되어 사회적 선행변수로 선택되었으며 직무관련태도는 결과변수로 선택하였다. 본 연구를 통해 생존자들의 조직 내 직무관련태도에 관한 이해를 높이는데 필요한 정보를 표출해내어 그들의 실태를 파악하는데 하나의 목적을 두었으며 그들의 관리자와의 사회적 관계가 그들에게 미치는 영향을 파악하는 것이 또 하나의 목적이라 하겠다. 이상과 같은 관계 파악을 통해 얻은 정보로 관련기업이 단기적으로 성공적인 자립을 하여 장기적으로 경쟁력 있는 조직으로 성장할 수 있는 인적자원전략을 제공하는데 2차적인 목적을 두고 있다. 본 연구는 이상과 같은 목적을 달성하고자 그 유의성이 증명된 현존하는 설문을 활용한 조사기법을 채택하여 실증연구를 하였다. 수집한 자료는 SPSS 17.0과 LISREL 8.5을 사용하여 연구모형과 연구의 가설들을 검증하였다. 연구목적을 달성하고자 채택된 가설들은 기존의 문헌연구를 토대로 세워졌다. 연구대상은 태국 북부지역의 대표도시인 치앙마이 내 관광호텔 종사자들로서 외부적으로는 2008년 국제금융위기와 그에 따른 경제침체, 내부적으로는 극심한 정치적 사회적 불안에 의한 관광객의 급감소와 조직의 자구책으로 행해진 조직재구조 차원에서의 해고를 이겨낸 근로자들, 즉 생존자들이었다. 가설검증을 통해 입증된 연구결과에 의하면 1) 근로자들의 관리자에 대한 만족은 그들의 직무만족, 정서적 조직몰입과 지속적 조직몰입에 영향을 미치는 것으로 검증됐다. 2) 근로자들의 관리자에 대한 만족은 그들의 이직의도에는 영향을 미치지 못하는 것으로 검증됐다. 3) 근로자들의 직무만족은 그들의 이직의도에 영향을 미치는 것으로 검증되었다. 4) 근로자들의 조직적 몰입과 이직의도 간의 관계에 있어서는 오직 경제적 성격의 지속적 조직몰입만 영향을 미치는 것으로 검증되었다. 이러한 연구 결과는 기존의 타 연구 결과와 기본적인 맥락은 같게 나왔으나 근로자들의 정서적인 면의 부재는 2008년 후반 당시의 독특한 태국의 사회적, 경제적 그리고 문화적 실태를 보여주는 것이 아닌 가 사료된다. 특히 근로자들이 그들의 직장과의 관계와 관련된 의사결정을 가치가 아닌 경제적인 요소에 의존한다는 결과 그리고 상관인 관리자가 이러한 태도에 전혀 영향력을 미치지 못한다는 결과는 전통적으로 감성적이며 집단주의적인 동양적 문화가 지배하리라고 예상했던 태국에서는 이례적인 결과였다. 그러나 관리자들이 그들의 직무만족 그리고 조직적 몰입에 영향을 주며 직무만족이 이직 의도에 영향을 미친다는 결과와 지속적 조직몰입이 이직의도에 영향을 미친다는 결과는 장기적으로 적극적인 관리자 교육을 통해 근로자들을 조직에 정서적으로도 올바르게 안착시키고 긍정적인 구성원으로 존재하면서 조직에 기여할 수 있는 그들의 역할을 기대할 수 있다고 볼 수도 있다. 이 점은 매우 중요한데 그 이유는 해고를 이겨낸 근로자들은 그 조직이 미래를 짊어지는 마지막 기대변수이기 때문이다.

• Journal of Industrial Convergence
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• v.20 no.10
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• pp.87-94
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• 2022

This paper seeks to raise inflection points of battery manufacturing bases in Korea in the V4 region through the reorganization of new industrial technologies in accordance with ESG. As a result, the global supply chain market is cut off. The Russian-Ukraine war and the U.S.-China hegemony are competing in the economic crisis caused by COVID-19. It is showing diversification of new suppliers in an environment where mineral, grain procurement, gas, and even wheat imports from China and Russia are not possible. As a protective glocal, this area is used as a buffer zone(Pro-Russia, Hungary). to an isolated zone(anti-Russia, Poland) by war. In this paper, economic growth is expected to slow further due to the EU tapering period and high inflation in world countries. Due to these changes, the conversion of new tech industry and the contraction of Germany's structure due to energy supply may lose the driving force for economic growth over the past 20 years. This is caused by market disconnection(chasm) in the nominal indicators in this area. On the other hand, Korea should actively develop into the V4 area as an energy generation export (nuclear and electric hydrogen generation) area as a bypass development supply area due to the imbalance in the supply chain of rare earth materials that combines AI. By linking this industry, the energy platform can be scaled up and reliable supply technology (next generation BT, recycling technology) in diversification can be formed in countries around the world. This paper proves that in order to overcome the market chasm caused by the industries connection, new energy development and platform size can be achieved and reliable supply technology (next-generation battery and recycling technology, Low-cost LFP) can be diversified in each country.

• Analyses & Alternatives
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• v.6 no.2
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• pp.37-78
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• 2022

The U.S.-led international order, sustained by overwhelming national power since the end of the Cold War, is gradually being restructured from a unipolar international system to a bipolar international system or a multipolar international system, coupled with the weakening of U.S. global leadership and the rise of regional powers. Geopolitically, discussions have been constantly raised about the security instability that the reshaping of the international order will bring about, given that East Asia is a region where the national interests of the United States and regional powers sharply overlap and conflict. This study aims to critically analyze whether security discussions in Korea are based on appropriate crisis assessment and evaluation. This paper points out that the security crisis theory emerging in Korea tends to arise due to threat exaggeration and emphasizes the need for objective evaluation and conceptualization of the nature and the level of threats that the restructured international order can pose to regional security. Based on the analysis of changes in conflict patterns (frequency and intensity), occurring in East Asia during the periods divided into a bipolar system (1950-1990), a unipolar system (1991-2008), and a multipolar system (2009-current), this study shows that East Asia has not been as vulnerable to power politics as other regions. This investigation emphasizes that the complexity of Korea's diplomatic and security burden, which are aggravated by the reorganization of the international order, do not necessarily have to be interpreted as a grave security threat. This is because escalating unnecessary security issues could reduce the diplomatic strategic space of the Republic of Korea.