• International Area Studies Review
• /
• v.15 no.2
• /
• pp.3-23
• /
• 2011

Existing studies have argued that, compared to the 1990s, the Japanese foreign direct investment (FDI) in the 2000s became multi-faceted in terms of investment motivation, ownership structure and entry mode, and diversification strategy. We have conducted a cross-sectional analysis and compared our results with the recent findings. We have found that the Japanese FDI in the mid 2000s became globally focused and regionally diversified. Ownership strategy and entry mode of the Japanese FDI in the Asian countries shows a remarkable shift from joint venture to wholly-owned subsidiary. In contrast, the preference of greenfield investments was observed consistently across regions. It seems that, after the Asian financial crisis, the Japanese firms began to re-optimize global FDI strategy and to regionally differentiate investments.

• International Area Studies Review
• /
• v.18 no.3
• /
• pp.3-21
• /
• 2014

The OECD DAC has recommended the member countries to raise the ODA budget by 0.7% of GNI. Most of DAC's members, howver, have not reached at the target level, mainly due to global economic crisis, with some exceptions in Northern Europe countries. Korea has increased the ODA budget allocation dramatically, but she could not still meet even the level 0.3%, which is the average level of DAC countries. In terms of national budget operation, DAC country groups are classified as the international norm type and the self-economic dependence type. And then, this study analyzes the time trends of the ODA budget in Korea, comparing with DAC's members on the economic scale. By forecasting Korean ODA budgets by country-type classifications, the optimal size of Korean government's ODA budget is proposed and discussed.

• Proceedings of the Korean Institute of Navigation and Port Research Conference
• /
• 2019.05a
• /
• pp.127-128
• /
• 2019

After the financial crisis in 2008, Korean ship-parts manufacturing companies faced the survival of companies due to the difficulty in securing the volume of orders by sharp dropping in orders from big-three Korean shipbuilders. In ship-parts industry, product diversification and overseas market entry are important targets. Based on the expert Delphi survey and SWOT analysis, this study analyzes the key factors of overseas advancement by the growth stage of ship-parts companies and suggests a systematic and efficient overseas marketing strategy. Also, we propose a systematic and efficient advancement into overseas market by suggesting the traditional offline marketing strategy of exporting materials, marketing and marketing, and suggesting the need to build an integrated online and offline platform.

• Journal of the Korea Institute of Information and Communication Engineering
• /
• v.25 no.10
• /
• pp.1302-1309
• /
• 2021

Recently, the Korean Government announced the Korean New Deal as a national development strategy to overcome the economic recession from the pandemic crisis and lead the global action against structural changes. In the Korean New Deal, the Green New Deal related with the energy aims to achieve net-zero emissions and accelerates the transition towards a low-carbon and green economy. To this end, the government plans to promote an increased use of renewable energy in the society at large. This paper introduces a binary power generation using unused low-grade thermal energy to accelerate the transition towards a low-carbon and green economy and examines a control system based on Neural Network which is capable maintenance at low-cost by an unmanned automated operation in actual power generation environment. It is expected that the realization of binary power generation accelerates introduction of renewable energy along with solar and wind power.

• Asia-Pacific Journal of Business
• /
• v.11 no.4
• /
• pp.255-269
• /
• 2020

Purpose - This paper analyzes the market efficiency focusing on the long memory properties of the domestic futures market. By decomposing futures prices into yield and volatility and looking at the long memory properties of the time series, this study aims to understand the futures market pricing and change behavior and risks, specifically and in detail. Design/methodology/approach - This study analyzes KOSPI 200 futures, KOSDAQ 150 futures, 3 and 10-year government bond futures, US dollar futures, yen futures, and euro futures, which are among the most actively traded on the Korea Exchange. To analyze the long memory and market efficiency, we used the Variance Ratio, Rescaled-Range(R/S), Geweke and Porter-Hudak(GPH) tests as semi- parametric methods, and ARFIMA-FIGARCH model as the parametric method. Findings - It was found that all seven futures supported the efficiency market hypothesis because the property of long memory turned out not to exist in their yield curves. On the other hand, in futures volatility, all 7 futures showed long memory properties in the analysis, which means that if new information is generated in the domestic futures market and the market volatility once expanded due to the impact, it does not decrease or shrink for a long period of time, but continues to affect the volatility. Research implications or Originality - The results of this paper suggest that it can be useful information for predicting changes and risks of volatility in the domestic futures market. In particular, it was found that the long memory properties would be further strengthened in the currency futures and bond rate futures markets after the global financial crisis if the regime changes of the domestic financial market are taken into account in the analysis.

• Journal of Labour Economics
• /
• v.43 no.4
• /
• pp.1-34
• /
• 2020

After the global financial crisis, doubts have been raised about the usefulness of traditional unemployment rate for the labor market slackness, hence, this study provides alternative indicators that can help estimate the labor market slackness in Korea, and investigates the degree of biasness of traditional indices of Korean labor market. In particular, this study intends to focus on the possibility of employing the labor underutilization index officially announced by Statistics Korea (KOSIS) from 2015. To do this, we first define the labor underutilization indices from 2003 to 2014 by applying current definitions of labor underutilization indices retrospectively to these periods. Based on these indices, the empirical analysis shows that the employment gap using labor underutilization indices is highly correlated with total output gap, and has significantly improved the performance of forecasting inflation rate compared to other labor market slackness indicators.

• International Area Studies Review
• /
• v.14 no.1
• /
• pp.203-219
• /
• 2010

Nowadays an instability of the exchange rate on accounts of global finance crisis brings on a lot of an economic damage such as recession, decreasing of total trade and so on. However some countries which belong to be membership of the eurozone could escape economic slump shortly and easier than others. The reason for this is that they share with the Euro as a their own currency which is the second vehicle currency all of the world. This paper analyzes the correlation of joining the Euro zone and trade with pooled OLS, random effect estimation, and fixed effect estimation. A membership of the Euro zone are able to increase trade 11.3% ~ 25.3% one another on average since some country belongs to the Euro zone. It is very important for some countries which have a plan to affiliate the Euro zone sooner or later to realize economic effect because of a protection of the Euro zone as well as political power.

• The Journal of the Korea Contents Association
• /
• v.21 no.6
• /
• pp.456-465
• /
• 2021

A recent report cited environmental issues, including climate change, as the most likely threat to Earth in the 2020s. Therefore, it is necessary to recognize that environmental problems today are not just problems of any particular region or country, but also problems of the future, and problems of the present day in which we live. Various interests and research on environmental issues have been conducted within Christianity based on the Christian worldview based on creation, degradation, and restraint. This interest began mainly in the Catholic camp in the early days, but gradually efforts have been made to link global care to Christian responsibility in evangelical Christian camps, including the World Council of Churches (WCC). At a time when interest in earth care is growing, the study suggested as follows for the Christian community: First, it is necessary to change from environmental protection and ecological preservation to life theology. Second, there is a need for a change of understanding of ecology that looks at nature. Third, at the Christian level, there should be a genuine recovery movement that is differentiated from secular environmentalism. Fourth, the church should be able to realize a society that can realize a true community with the world of creation while looking forward to the kingdom of God.

• The Korean Journal of Franchise Management
• /
• v.13 no.4
• /
• pp.39-48
• /
• 2022

Purpose: COVID-19 has negatively influenced the financial performance of restaurant firms. Previous literature suggests that the franchising strategy effectively helps restaurant firms recover from difficult business conditions through various methods for expanding business size and enhancing business efficiency. According to risk-sharing theory, restaurant franchisors may minimize operational risks by sharing the risks with their franchisees. For instance, restaurant franchisors could generate more stable cash flow using franchise fees from their franchisees. However, research on the effect of franchise's risk reduction factor on business performance during pandemic is scarce. Thus, this study aims to examine the positive moderating effect of franchising between COVID-19 and restaurants' financial performance. Research design, data, and methodology: Panel data including financial information and franchising status of restaurant firms were collected for analysis. In order to control for unobserved firm-specific factors, generalized least squared estimation in fixed effects model was conducted. Huber-White robust standard errors were used to deal with heteroscedasticity issues. Results: It was found that COVID-19 pandemic has a negative effect on the restaurants' financial performance such as ROA (return on assets), ROE (return on equity), and PM (profit margins), which confirms the findings from existing literature. More importantly, results show that the degree of franchising has a positive moderating effect on the relationship between COVID-19 and financial performance of restaurant firms. This suggests that more active engagement in franchising may decrease negative impacts of COVID-19 on the restaurants' financial performance. Conclusions: The study supports existing literature related to risk-sharing theory, by confirming that pandemics, such as COVID-19, negatively affect financial performance of the restaurants. Furthermore, it was found that franchising strategy can help lessen negative impacts of pandemics on the firm performance. These findings can contribute to the franchise and restaurant management literature by suggesting the role of franchising in reducing business risks, thereby positively affecting financial performance. Moreover, this study offers business managers of franchisors and franchisees insights for utilizing franchising in restaurant risk management. Policymakers may also gain information on aiding restaurant firms during global crisis, such as COVID-19.

• Journal of Digital Convergence
• /
• v.19 no.11
• /
• pp.23-29
• /
• 2021

Countries are promoting Green New Deal policy to cope with global warming and climate change as a result of economic growth and overcome the economic crisis caused by the coronavirus 19. The role of ICT technology is crucial in realizing the Green New Deal policy, and standardization of ICT technology should be preceded. This paper examines domestic and foreign Green New Deal policies and analyzes trends in ICT standardization activities. Based on the analysis, we propose standards that should be developed for the eight major projects in order to successfully realize the Korean Green New Deal. A strategy to promote ICT standardization for the zero energy project in public facilities as an example was proposed. In addition, we present ways to resolve difficulties in realizing ICT standardization policies related to Korean Green New Deal. Through this study, it is expected that the Korean Green New Deal policies, which is being promoted at the pan-government level, will be effective based on ICT standard technology.