• Journal of the Korean Society of Industry Convergence
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• v.23 no.6_2
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• pp.1081-1091
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• 2020

The most recent issue of offshore plants that produce oil and gas are the decommissioning engineering of aged or discontinued platforms. There are many platforms that are being dismantled in the United States, Europe, and areas in Southeast Asia. In particular, more than 400 old platforms in Southeast Asia (Indonesia, Malaysia) are preparing to dismantle. They are spread out across Southeast Asia with a water level of 50 meters and small-scale of less than 10,000 tons. However, this offshore plant decommissioning market is a very suitable market for small and medium-sized shipyards in Korea to enter with their established equipment and engineers. Platform decommissioning is conducted according to decommissioning procedures. However, there are some difficulties in market advances as no developed case studies or process models are established on how platform structures and components are to be dismantled and how the dismantled material is to be reused and recycled. Therefore, this study presented domestic and foreign regulations on the reuse and recycling of oil and gas producing offshore plant platforms, case analyses on developed decommissioning engineering, platform reuse and recycling guidelines, and platform and pipeline decommissioning processes and methods.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.3
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• pp.383-390
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• 2021

This study investigates the effect of shareholders' rights, disclosure, and transparency on firm value. This study also investigates whether corporate social responsibility (CSR) is pure moderation or quasi moderation in the effect of shareholders' rights, disclosure, and transparency on firm value. This study's novelty is building a model framework to increase firm value and the role of CSR in increasing firm value. This study used secondary data provided by Indonesia, Malaysia, and Thailand Stock Exchanges. The sample of this study is 142 companies with four years of observations from 2012-2015. Firm value is measured by Tobin's Q. While shareholder's rights, disclosure, and transparency are measured using the ASEAN scorecard. The analysis method used in this study is a fixed effect model using a panel data approach. The result of this study shows that shareholders' rights have a significant positive effect on firm value. However, disclosure and transparency do not affect firm value significantly. In comparison, the CSR disclosure has a moderation effect on the relationship between shareholders' rights and firm value. The CSR disclosure does not have a moderation effect on the relationship between disclosure and transparency and firm value.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.3
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• pp.781-791
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• 2021

This study aims to analyze the relationship between the business cycles of the ASEAN +3 countries. In addition, the effects of the spillover value on the coincident indicators are determined. This study employs secondary data and uses multivariate time series of five ASEAN countries, namely, Indonesia, Malaysia, Singapore, Thailand, and the Philippines. The proxy was the real gross domestic product (GDP) collected annually from the CEIC, the IMF, and the World Bank for the period from 1964 to 2016. The data was plotted against two time periods, 1964-1998 as the pre-crisis period, and 1999-2016 as the post-crisis period. The index data was changed to the base year 2010. The data was subsequently separated from the trends and the cyclic components. The cyclic components were obtained by using Hondrick-Prescott filter, and them were further analyzed. The analytical method used was Contemporaneous and Cross-Correlation tools. The results showed that, before and after the crisis, the value of the business cycle correlation between ASEAN +3 countries was stronger and moved together at the same level of lag value. The implication of this research was an initial finding of the ASEAN +3 countries' prerequisites for the formation of a common currency.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.7
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• pp.139-150
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• 2021

The financial system is a relatively important sector in the economy of a country. Its role in providing access to financial services to people is able to support a better economy. The main problem in this financial system is caused by the barriers that prevent individuals or companies from accessing these financial services. This study aims to empirically analyze the relationship financial inclusion and financial system stability in ASEAN 4 (Indonesia, Malaysia, Thailand, and The Philippines). Financial inclusion proxied by the financial inclusion through credit variable and other banking variables such as the number of financial services access, banking asset, and financial system stabilization is seen from banking performance through non-performing loan and Z score instruments. Empirically, the study uses panel data in the form of annual data for 2005-2016. The method used Panel VAR. The result shows that financial inclusion affects the stability of the financial system in ASEAN 4. This indicates that financial development through financial inclusion can encourage stability of the financial system in ASEAN 4. In this globalization era, the integrated financial system is increasing, this research shows the importance of developing financial inclusion by eliminating barriers to financial exclusion.

• Korea Trade Review
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• v.44 no.4
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• pp.51-66
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• 2019

This study analyzes trade competitiveness by classifying the classification by item among Korea and the 10 ASEAN member countries into high level and medium-high level technology industry groups, medium level, medium-low level, and low-level technology industry groups. Before analyzing each of the 10 member states, I investigate the trade competitiveness between Korea and ASEAN, and analyze the trade competitiveness of Korea, especially among the 10 member countries, with Korea having a competitive industrial force. The study results revealed that trade with Vietnam was actively promoted, with Korea-Vietnam trade volume also growing far above that of other member states. And trade with Korea was brisk in the order of Singapore, Indonesia, Malaysia and the Philippines. The analysis of the trade structure of the 10 ASEAN member states, confirmed that imports were also being made while exporting items in the high- and medium-level technology industry groups. The possibility of entering the Korean market was quite high, given that Korea imported high- and medium- and high-tech industrial forces while exporting low-tech industrial forces.

• The Southeast Asian review
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• v.20 no.3
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• pp.41-64
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• 2010

The recent global financial crisis triggered by the sub-prime mortgage debacle in the United States hit hard most ASEAN countries that have just recovered from the unprecedented economic crisis ten years ago. This paper, using individual time-series and panel data from 1990 to 2009, intends to investigate and compare the impacts of the two aforementioned economic crises on trade in the four developing ASEAN countries that encompass Indonesia, Malaysia, the Philippines and Thailand. In doing so, the paper traces the behaviors of main macroeconomic variables before and after the crises on graphs, and then estimates classical export and import demand functions that include real exchange rate, home and foreign GDPs as explanatory variables. In the estimation functions, two dummy variables are added to consider the effects of the two economic crises separately. Individual country data analyses reveal that by and large the 1997 economic crisis seems hit those ASEAN countries' exports and imports harder than the recent global financial crisis. Surprisingly the recent financial crisis turns out more or less statistically insignificant for those countries' export and import performances. The fixed effect model estimation using panel data of those four ASEAN countries also shows that the 1997 economic crisis had affected exports and imports of those countries negatively while the recent global financial crisis was not statistically significant. These results indicate that overall the effect from the 1997 crisis was more devastating than that of the recent global crisis for those ASEAN countries.

• The Southeast Asian review
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• v.20 no.3
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• pp.147-182
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• 2010

The purpose of this study is to examine the population changes in the nine Southeast Asian countries, including Cambodia, Lao People's Democratic Republic, Philippine, Indonesia, Malaysia, Myanmar, Singapore, Vietnam, and Thailand. According to the demographic transition theory which described the transition from high birth and death rates to low birth and death rates, the demographic changes in less developed countries, including the Southeast Asian countries, follow the general pattern of the population changes that the Western countries had experienced. However, this theory does not consider the fact that the demographic behaviors such as fertility and mortality tend to be ethnocentric (or particular). Therefore, I examine in this paper both the generality and particularity of the population changes in the Southeast Asia . The analytic results are consistent with my assumptions. Every country in the Southeast Asia will soon reach the third phrase of the demographic transition and meet population ageing process. However, the timings arriving at the third phrase can differ. Singapore which is the most developed country had firstly passed through the demographic transition and the highest level of population ageing. Cambodia and Lao People's Democratic Republic, the least developed countries, will lastly arrive at the third phrase and the ageing society. In addition, among the three countries which had experienced war or civil war, only Cambodia had experienced babyboom.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.3
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• pp.191-199
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• 2021

The study examines the causal relationship between financial development and economic growth through trade openness for the leading ASEAN countries (Indonesia, the Philippines, Malaysia, Singapore, Thailand, and Vietnam). The study employs a panel data for the period of 25 years spanning from 1995 to 2015 for the six countries, yielding a balanced panel of 150 observations. Fixed effect model (FEM) and random effect model (REM) are used for the panel data, following the Hausman test performed for model selection. The trivariate Granger causality test is also used to check for possible relationship between the variables. The results show that REM is chosen based on the Hausman test result, suggesting that the trade openness has a positive association with growth whereas the financial development is positively, but insignificantly associated with growth. The reason for this is that the financial development and economic growth may be related to each other. The results are, then, further explored and confirmed by the causality test. That is, the financial development and the economic growth, through the trade openness, are found to have bidirectional positive relationships. This implies that there would be shortcomings when ignoring the presence of trade openness, which positively impacts the relationship between finance and growth.

• Journal of Korea Trade
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• v.23 no.8
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• pp.132-144
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• 2019

Purpose - The purpose of this paper is to suggest countermeasures to reduce the damage of manufacturers in halal industries and to increase the transparency of the halal market along with raising some problems of halal supply chain management (HSCM). Design/methodology/approach - To achieve to the aim of this research, halal supply chain is categorized as a green zone or a red zone according to the possibility of cross-contamination, and the study introduces 2 examples in Malaysia and Indonesia regarding cross-contamination. Findings - More than 70% of the companies producing halal-certified products are, ironically, non-Muslim suppliers under the halal certificate system and by using halal supply chain. Most Muslim countries do not exercise control over the completed halal supply chain. In most Muslim countries which do not exercise control over halal supply chain properly, there is always a possibility of cross-contamination of products during the processes of distribution. Research limitations/implications - This research has been conducted by accessing cases in halal supply chain. These cases are found in some Muslim countries, not all Muslim countries. Nevertheless, the authors found the possibility of these cross-contaminations in all Muslim countries, and it will damage the halal market. Originality/value - While existing studies have focused on protecting Muslim consumers by ensuring the integrity of halal products in halal supply chain, there is no research on how to protect halal product manufacturers as another important axis of halal SCM.

• Korean Journal of Plant Taxonomy
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• v.52 no.2
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• pp.108-113
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• 2022

Amblovenatum immersum (Blume) Mazumdar (Thelypteridaceae) is newly recorded in Vietnam. It is similar to A. terminans (Panigrahi) J. P. Roux in its woody rhizome and cristate spores but differs in terms of its plant size, lobed pinnae, lobed segments, veinlets, sori and indusia. It was previously found to exist in China, India, Indonesia, Malaysia, Myanmar, Philippines, Sri Lanka, and Thailand as well as in east Africa, tropical America, northern Australia and Micronesia. The present study provides a detailed description, photos, and line drawing of the species. Furthermore, a comparison of the diagnostic characters with the closely related species in Vietnam A. terminans is provided.