• Journal of the Economic Geographical Society of Korea
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• v.13 no.1
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• pp.147-158
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• 2010

Knowledge spillover among firms is a crucial ingredient in realizing the benefits of agglomeration. This paper provides an overview and critical assessment of the Shihwa Industrial Complex (SIC) in Korea. In order to identify the relationships and interplay among different agents in the area, a survey was conducted on business networking of industry-academia-government collaboration in research and development. Unlike the closely knit input-output relationship, the findings suggest that the technological linkages in the SIC still have room for improvement. As the role of small and medium enterprises as catalysts of regional economic development in Korea is expected to grow in importance, more effort should be made to nurture clustering and R&D networking among them.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.45 no.4
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• pp.21-30
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• 2022

To mitigate the environmental impacts of the energy sector, the government of South Korea has made a continuous effort to facilitate the development and commercialization of renewable energy. As a result, the efficiency of renewable energy plants is not a consideration in the potential site selection process. To contribute to the overall sustainability of this increasingly important sector, this study utilizes the Black-Scholes model to evaluate the economic value of potential sites for off-site wind farms, while analyzing the environmental mitigation of these potential sites in terms of carbon emission reduction. In order to incorporate the importance of flexibility and uncertainty factors in the evaluation process, this study has developed a site evaluation model focused on system dynamics and real option approaches that compares the expected revenue and expected cost during the life cycle of off-site wind farm sites. Using sensitivity analysis, this study further investigates two uncertainty factors (namely, investment cost and wind energy production) on the economic value and carbon emission reduction of potential wind farm locations.

• Journal of the Korean Institute of Illuminating and Electrical Installation Engineers
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• v.26 no.2
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• pp.18-26
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• 2012

Though electricity consumption amount in industry has been increased gradually, corresponding power supply show symptoms of marginal point. Importance of demand-side management from large-industries has also been raised. This paper deals with induction motor, which is one of representative examples of heavy electricity consumption utilities, to analyze potential technical capability, economic feasibility from consumers' viewpoint and demand-side management feasibility from nation-wide perspective. Nation-wide economic feasibility analysis was done through California test, which has been used as demand-side management evaluation model. This paper also describes limitation of existing high efficiency induction motor in terms of contribution to demand-side management and utilizes premium motor to calculate demand-side management contribution level and economic feasibility evaluation. Likewise, this paper emphasizes the efficiency improvement of induction motor and analyzes how much premium motor related technologies can contribute to demand-side management.

• International conference on construction engineering and project management
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• 2015.10a
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• pp.4-5
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• 2015

Owning to rapid infrastructure development, Asia is experiencing dramatic economic growth. There are not a few cases in which, however, economic growth is achieved by increasing the external diseconomy. Pursuit of sustainable development is one of the most important issues for mankind. Under the post-industrial capitalism society, however, there seems a big risk of increase in the external diseconomy worldwide. The objectives of this manuscript are to discuss importance of risk management of construction practice in present and future. Regarding the latter, a particular attempt is made to discuss how project risk communication should be done to reduce the external diseconomy. Presently, one of the important issues in implementation of infrastructure projects is practice of risk management to properly manage time, cost, quality, and safety: mainly maximization of internal economy. Multi-party risk and uncertainty management process (MRUMP) is one of tolls to assist it. The idea on MRUMP can be used to reduce the external diseconomy through identifying, sharing, and tuning people's rhythms.

• International Journal of Quality Innovation
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• v.6 no.1
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• pp.24-34
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• 2005

This research topic evaluates the effectiveness and importance of environmental protection in the 21st century in light of the increasing demand on the earth's natural resources and the pressures on economic and industrial development to provide dynamic power. As the world and our fellow citizens become more conscious of environmental protection, companies are under greater pressure whilst pursuing economic growth. Therefore, domestic manufacturers have been devoting efforts to promote environmental management. This research conducts survey using questionnaires on the operational performance of the manufacturers who have ISO 14000 series accreditation and certification. The survey considers five dimensions/functions within a manufacturer, financial management, human resources management, production management, and marketing management. A total of 35 indices are used for analysis of the effects that the location, history, industry, number of employees, amount of capital, and revenue may have on the performance. This research targets the manufacturers approved of ISO 14000 series certification by Environment Administration Association. The statistical methods deployed are descriptive statistics, T-test, and single factor analysis of variance used for analysis. The conclusions reveal that a certain level of performance has been achieved in every dimension. After T-test, all the indices have reached a significant level. The indications are that ISO 14001 benefits all manufacturers the level of benefits however varies from company to company.

• Journal of Korea Port Economic Association
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• v.31 no.1
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• pp.127-145
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• 2015

Plant location selection is a decision which requires huge investment and entails a significant impact in a longer-term. The petrochemical industry, in particular, is so capital- and technology-intensive that the firms in the industry pursue enhancing competitiveness through collaboration and integration among entities in their supply chains. Even though the logistics factor such as logistics costs and connectivity have, as a result, gained its importance in plant location decision making, this has rarely studies in empirical studies. Therefore, this study aims to examine the relative importance of the logistics factor in plant location decision making in the petrochemical industry using the multi-criteria decision-making approach. In addition the three representative petrochemical industrial complexes are evaluated by the factors used in this study. This study is able to provide the useful implication in both practical and policy-making aspects. Firms are required to consider the logistics factors with priority compared to other factors in plant location decision making. In addition, when federal or local governments build industrial sites and attract the petrochemical firm, logistics infrastructure should also be considered to provide better transportation connectivity and lower logistics costs in turn.

• Journal of the Economic Geographical Society of Korea
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• v.12 no.1
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• pp.67-82
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• 2009

This paper examines the regional economic development policies of the Welsh Development Agency for attracting companies from the perspective of industrial location theory. The Welsh Development Agency has succeeded in attracting domestic or international capital, as a core actor for the regional economic development, and responded to the changing business environment and to the specific and various needs of the investors. The analysis of the Welsh case provides an important theoretical and practical implications. First, the Welsh case shows the importance of the role of the public sectors for the regional economic development. As the behavioral approach and the industrial location theory argue, the attraction of domestic or international capital led to the regional economic development. Second, the effective activities for attracting capital played an important role in the development. The quality and quantity of the information, in the industrial location theory, and the capacity of the business groups, in the behavioral approach, are significant factors of the development. Third, incentives by the Agency are also important. This finding not only supports the classical location model based on the cost and profits, but also the behavioral approach. Finally, the Welsh case could not succeeded in gaining regional economic competitiveness, even though attracting companies, by disregarding the industrial specialization strategy at the local level. This implies that we need to build industrial clusters. In sum, the behavioral approach has significant implications to the understanding of the public policies for attracting companies.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.17 no.11
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• pp.474-482
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• 2016

This paper presents an empirical analysis on the relationship between consumer sentiment and macro-economic indices by consumer's characteristics such as age, income and employment type. According to the empirical analysis based on the Consumer Sentiment Index(CSI) of the Bank of Korea and other macro-economic indices, the following study findings are presented. First, individual consumer sentiment depends not only on GDP growth, but also on other macro-economic conditions such as wage, employment, consumer and asset price, and debt burden. Second, the degree of importance of the macro-economic indices on determining individual consumer sentiment varies strongly according to consumers' characteristics. These findings reveal that the gap between consumer sentiment and GDP growth can largely be explained by considering the other macro-economic indices and consumer's characteristics.

• Journal of Korean Society of Rural Planning
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• v.1 no.1
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• pp.111-124
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• 1995

This paper discuss on the strategies for rural economic development Maul purposes of this paper are as follow: First, to review importance of economic promotion in the integrated rural developmental scheme, Second, to identify structural problems of rural economy, and Third, to suggest promotional strategies for the development of rural economy. Economic vitalization is the very important strategy to support daily life of rural population. Since rural economy heavily depends on agricultural sector which has relatively low productivities, diversification of rural economy through introduction of 2nd and 3rd industrial sector is one of the most urgent tasks in rural Korea. Integrated, localized, and planning oriented approaches with reformation of incentive system for the development of rural economy are strongly recommended as new strategies.

• International Commerce and Information Review
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• v.11 no.2
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• pp.303-328
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• 2009

MERCOSUR, which is the biggest economic community in the Latin America, has great potential as Korea's export market with 220 million population and 2.8 trillion$ GDP. In the midst of global economic crises, the importance of MERCOSUR is highlighted with relatively sound economic growth. The average tariff rate of MERCOSUR is 10.4~12.2% which is almost same as that of Korea(12.2%), but the tariff rates on Korea's main export items such as auto, display, digital camera, mobile phone are as high as 20~30%, which means that Korea-MERCOSUR FTA will result in substantial growth of Korea's export. In pursuing Korea-MERCOSUR FTA, cooperations in natural resources, agriculture, mid-sized aircraft, construction and green energy as well as liberalization of commodity market are very important for Korea. To realize Korea-MERCOSUR FTA, it is essential to overcome the objections from the manufacturing sectors of MERCOSUR. So it is desirable to aim relatively low in terms of the level of liberalization at the beginning, and expand corporate and industrial cooperation between Korea and MERCOSUR's manufacturing industries.