• Journal of Korea Trade
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• v.27 no.1
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• pp.159-175
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• 2023

Purpose - This paper empirically investigates the relationship between born global strategy and the accounting- and market- based financial performance of Korean firms. Further, this study identifies the characteristics of born global firms (BGs) in comparison with non-BG counterparts in terms of size, R&D, and liability. Design/methodology - Using a database of listed Korean SMEs in the manufacturing sector from 2010 to 2020, this study applies panel generalized least squares (GLS) estimation and logistic regression techniques. Findings - This study finds that BG strategy is negatively related to the firm's accounting-based financial performance, while it is positively related to the market-based financial performance. This study also finds that BGs have higher sales volume and more total assets compared to their non-BG counterparts. In addition, Korean BGs spend more on R&D, and at the same time have higher liability. Originality/value - BGs, by definition, are firms that are actively penetrating foreign markets from the early stages of their establishment. Previous studies of Korean BGs have tried to identify the determinants of BGs' rapid internationalization and their superior performance. However, most of these studies have utilized either qualitative case- or survey-based analyses with relatively limited numbers of observations. From a different perspective, this study provides more objective evidence by investigating how the BG strategy affects the financial and market performance of firms, and by characterizing BGs in terms of financial data.

• Journal of Distribution Science
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• v.13 no.5
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• pp.71-82
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• 2015

Purpose - The purpose of this study is to investigate risk price implied from the pricing kernel of Korean stock distribution market. Recently, it is considered that the quantitative easing programs of major developed countries are contributing to a reduction in global uncertainty caused by the 2007~2009 financial crisis. If true, the risk premium as compensation for global systemic risk or economic uncertainty should show a decrease. We examine whether the risk price in the Korean stock distribution market has declined in recent years, and attempt to provide practical implications for investors to manage their portfolios more efficiently, as well as academic implications. Research design, data and methodology - To estimate the risk price, we adopt a non-parametric method; the minimum norm pricing kernel method under the LOP (Law of One Price) constraint. For the estimation, we use 17 industry sorted portfolios provided by the KRX (Korea Exchange). Additionally, the monthly returns of the 17 industry sorted portfolios, from July 2000 to June 2014, are utilized as data samples. We set 120 months (10 years) as the estimation window, and estimate the risk prices from July 2010 to June 2014 by month. Moreover, we analyze correlation between any of the two industry portfolios within the 17 industry portfolios to suggest further economic implications of the risk price we estimate. Results - According to our results, the risk price in the Korean stock distribution market shows a decline over the period of July 2010 to June 2014 with statistical significance. During the period of the declining risk price, the average correlation level between any of the two industry portfolios also shows a decrease, whereas the standard deviation of the average correlation shows an increase. The results imply that the amount of systematic risk in the Korea stock distribution market has decreased, whereas the amount of industry-specific risk has increased. It is one of the well known empirical results that correlation and uncertainty are positively correlated, therefore, the declining correlation may be the result of decreased global economic uncertainty. Meanwhile, less asset correlation enables investors to build portfolios with less systematic risk, therefore the investors require lower risk premiums for the efficient portfolio, resulting in the declining risk price. Conclusions - Our results may provide evidence of reduction in global systemic risk or economic uncertainty in the Korean stock distribution market. However, to defend the argument, further analysis should be done. For instance, the change of global uncertainty could be measured with funding costs in the global money market; subsequently, the relation between global uncertainty and the price of risk might be directly observable. In addition, as time goes by, observations of the risk price could be extended, enabling us to confirm the relation between the global uncertainty and the effect of quantitative easing. These topics are beyond our scope here, therefore we reserve them for future research.

• Journal of Information Technology Services
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• v.13 no.2
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• pp.55-69
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• 2014

As Korea's global IT sourcing is sluggish and supply of qualified IT personnel does not meet the demand, IT developers currently do not worry about their job security. The sluggish global sourcing is attributed to the lack of system design and analysis skills as well as lack of communication skills of IT personnel. Most of big Korean IT service firms operate in captive market. This is also attributed to the cause of the sluggish global sourcing. Some IT managers, especially in global IT service firms, concerned about the negative long term effect of the sluggish global sourcing on competitiveness and human infra capability of Korea's IT service industry. Managers in IT service firms expect skill requirement changes in the future when global sourcing becomes active. The skills and knowledge that they wish to retain in-house is business knowledge, system analysis and design knowledge, customer relation management skills, project management skills and industry knowledge. The jobs with the above knowledge usually involve customers.

• Journal of Fashion Business
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• v.4 no.2
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• pp.19-29
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• 2000

The purposes of this thesis lies in the study of marketable design through understanding of skiwear design and its market. This was done through the analysis of the present state of, and the growth of its market, modern fashion industry and the consumer, through skiwear related periodicals. I undertook the task of understanding current design trends through a study of catalogs by well-known ski wear brands, firsthand observation and photographing at ski resorts. The characteristics of present fashion industry lie in the realization of global merchandising, expansion of discount stores and tele-sales, demands for susceptible store interiors and change in consumer behavior. The market created outside of mainstream skiwear, focuses on the growth of the sportive mood over all areas of fashion, and among these developments. Skiwear trends begin to show tendencies to subdivide. Skiwear design can be divided into groups of functional sportswear for professionals, practical, snowboard-wear that combines as street-wear and finally elegant, feminine style.

• The Journal of Industrial Distribution & Business
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• v.10 no.9
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• pp.19-24
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• 2019

Purpose - In the digital era, technology advancement enables goods and services to be produced more efficiently but also create economy risk in the global economy including Indonesia. Previous studies stated that the risk can be mitigated through export diversification. This study investigates strategy to expand the markets for existing products and explore the potential market. Research design, data, and methodology - The criteria was followed using a review and considerations combination through the Focus Group Discussion (FGD) to determine the priority product in trading house of Indonesia. This study implemented market share to explore those products' markets and compare it to other ASEAN countries. Results - The Indonesian potential products are T-shirts, singlets and other vests of textile materials, knitted or crocheted (excluding cotton); food preparations; medicaments consisting of mixed or unmixed products for therapeutic or prophylactic purposes; soap in the form of flakes, granules, powder, paste or in aqueous solution; and cocoa powder, not containing added sugar or other sweetening matter. The market analysis also showed that Indonesia still had not optimally accessed yet the largest market in the world for each product. Conclusions - The government should focus more on increasing the competitiveness of those products, particularly in those global marketplaces.

• Journal of Distribution Science
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• v.18 no.10
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• pp.39-52
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• 2020

Purpose: This study aims to find out the relationship between the impact of Korean crew on airline service quality in the global aviation market, which is the representative of the face-to-face sales and can help in the face-to-face market of aviation services. Research design, data: The survey was conducted for about a month from March 1 to April 6, 2020, and a total of 300 copies were used in the analysis of the results. To verify the hypothesis, data was analyzed using the statistical package program SPSS 18.0, and frequency analysis, exploratory factor analysis, correlation analysis, and multiple regression analysis were performed. Results: It is a study on the sales of face-to-face service of crews of global airlines. Non-verbal elements in airline service face-to-face sales have been shown to have a significant impact on service quality. Conclusions: In the face-to-face service sales of global airlines, communication has been shown to affect service quality. A face-to-face sale using mother tongue means important. The better the flight attendant's linguistic face-to-face selling ability, the more positive on the airline's quality of service. It suggests that the communication skills of managers in the aviation service market are important for repurchase.

• International Journal of Aeronautical and Space Sciences
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• v.17 no.2
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• pp.268-283
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• 2016

Aircraft manufacturing companies have to consider multiple derivatives to satisfy various market requirements. They modify or extend an existing aircraft to meet new market demands while keeping the development time and cost to a minimum. Many researchers have studied the derivative design process, but these research efforts consider baseline and derivative designs together, while using the whole set of design variables. Therefore, an efficient process that can reduce cost and time for aircraft derivative design is needed. In this research, a more efficient design process is proposed which obtains global changes from local changes in aircraft design in order to develop aircraft derivatives efficiently. Sensitivity analysis was introduced to remove unnecessary design variables that have a low impact on the objective function. This prevented wasting computational effort and time on low priority variables for design requirements and objectives. Additionally, uncertainty from the fidelity of analysis tools was considered in design optimization to increase the probability of optimization results. The Reliability Based Design Optimization (RBDO) and Possibility Based Design Optimization (PBDO) methods were proposed to handle the uncertainty in aircraft conceptual design optimization. In this paper, Collaborative Optimization (CO) based framework with RBDO and PBDO was implemented to consider uncertainty. The proposed method was applied for civil jet aircraft derivative design that increases cruise range and the number of passengers. The proposed process provided deterministic design optimization, RBDO, and PBDO results for given requirements.

• Proceedings of the Korean Institute of Building Construction Conference
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• 2019.11a
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• pp.195-196
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• 2019

The purpose of this study is to analyze the scale of overseas design orders in Korea, China and Japan by region and type of work, and to draw implications. As a result of analyzing the overseas design sales market of Korea, China and Japan, all three countries have the highest percentage of overseas sales in the Asian market, and the overseas design sales are the highest in power generation, chemical plant and transportation sectors. In addition to the Middle East and Asian markets, Japan and China have also diversified their strategies to diversify their markets by taking orders in various regions such as Europe, Africa and the United States. In particular, China is promoting the "New Silk Road Project" (One belt, One road), linking land and sea to a total of 25 countries and actively supporting aid projects in Africa and Asia, have. In addition, Japan has been actively supporting the government's expansion of ODA projects to expand overseas market entry. Therefore, it is necessary for Korea to increase its market share through diversification of overseas design market and diversification of industrial type, and to participate in overseas design market by expanding customized R&D investment.

• Journal of Fashion Business
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• v.14 no.4
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• pp.91-101
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• 2010

This paper has the purpose of suggesting a development-method on the fashion products that would secure the competitiveness in the global markets through creating supersensitive practical products on the basis of developing originative fashion-goods being made of jacquard that is fine quality of couture. This paper has collected data through the cases of the developed nations in fashion, precedent studies and all the related literature on the subject. The results of this researching are as following: The first, it is expected that the necessity of developing new fashion products would be appealed toward the prestige group of consumers who are seeking for the fine quality and super-sensitivity in female fashion in Korea, and it is the current situation that the products made of jacquard are gradually expanding not only in the area of apparel, fashion goods and interior but also another areas. The current situation of the global market suggests the necessary strategy of survival, that is, the development of supersensitive materials and creative products which would be able to keep the high quality and lower the selling price through cost reduction. The second, the suggestion of the direction in developing the products of the female fashion made of jacquard has two points - the development of the texture that would realize a unique form and the development of the material that would be able to realize planar pattern and three dimensional pattern which are woven with thin and light materials with various solidity and delicacy through various techniques of mixing and three dimensional expression. The third, the expected ripple effect and utilization generated from the development of fashion products are as followings: As material characteristics of jacquard, It needs the specialization of various techniques and specialized production system in using jacquard, and the specialized technique and system would make it possible to produce not only the higher value-added products through expressing affluent colors and delicate design but also competitive products through cutting the process and cost, eventually, it would lead to the expansion of the jacquard market of super-sensitive prestige. Therefore, it is remarkable that various development of products toward the global market and the prestige female fashion market can suggest the vision that make the national fashion industry develop into the higher value-added knowledge industry integrating technology and culture.

• The Journal of the Korea Contents Association
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• v.15 no.12
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• pp.73-80
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• 2015

Starting the popularity of Korean dramas exported to China in 1996, the Korean wave started around the world market. Afterwards, as the Korean culture itself as well as dramas rapidly emerged as contents of the Korean market, the foreign direct sale consumers who want to buy Korean goods directly online are increasing at an alarming rate. This study each selected 4 domestic shopping malls and 4 foreign famous shopping malls which were conducting a global marketing currently and compared/researched them in the design aspect in order to apprehend if domestic online shopping malls were properly meeting the consumer environment of the foreign market. As a result, it was revealed that domestic online shopping malls conducting the global marketing could not fully understand the internet environment by countries and were going through a limit of the information delivery by SMS, and could not use the visual signs actively which were useful to the meaning delivery. Accordingly, this thesis suggested a plan to actively utilize the variable element considering various screens to the design, plan to efficiently design the text for solving the language problem by countries, and plan to design using the developing IT technology as a solution to those problems.