• The Journal of Asian Finance, Economics and Business
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• v.8 no.8
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• pp.37-45
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• 2021

The purpose of this study to examine the effect of strategic innovation on organization development, organizational effectiveness, and firm performance of companies in the Industrial Estate of Thailand. The sample of this study was 360 companies and data was collected by distributing questionnaires through mail and Google form. Out of the 360 questionnaires, 192 responses were received and usable. The study period was November 2020 to February 2021. Structural equation modeling (SEM) was used to test hypotheses regarding the influence of strategic innovation on organization development, organizational effectiveness, and firm performance. The results of this study show that strategic innovation has a positive direct effect on organization development, organizational effectiveness, and firm performance. Organizational development has no significant relationship with organizational effectiveness and firm performance, and organizational effectiveness has no significant relationship with firm performance. Strategic innovation has a strong direct positive effect on the company's performance. It indicated that strategic innovation is essential for organizations to drive business growth, generate value for the company and its customers, and create a competitive advantage. This type of innovation is essential for organizations to adapt to the speed of technology change. In addition, theoretical contributions, managerial contributions, limitations, and future research recommendations were presented in this study, including conclusions were shown.

• The Journal of Industrial Distribution & Business
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• v.13 no.10
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• pp.31-39
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• 2022

Purpose: Smart city has been observed to benefit most urban areas in different nations. Despite its advantages in the promotion of environmental sustainability and improving business competency in the current context, various literature review papers should be introduced to analyze its drawbacks. The present research aims to provide valuable suggestions for sustainable smart cities development. Research design, data and methodology: Using the qualitative content analysis (QCA), the current author could understand the target audience's motivations and habits by gathering data. This implies that the author may predict the kinds of future initiatives. As a result, the current researcher could ensure developed pertinent research questions and a well-planned method for analyzing the replies. Results: The implementation of green city development suggests encouraging the greening of public spaces and reducing heat from the atmosphere caused by the emission of gases from vehicles and companies. Smart cities are offering a new industrial paradigm that is based on the convergence of information technology. Conclusions: The projection illustrates that most people are migrating to the cities, which calls for an immediate transformation to overcome the immense pressure of making the city accessible, sustainable, prosperous, and safer. Therefore, implementing smart cities within the current world promotes efficiency and increases business sustainability.

• Journal of Distribution Science
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• v.13 no.11
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• pp.39-46
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• 2015

Purpose - In Korea, there has been a recent trend that shows housing prices have risen rapidly following the International Monetary Fund crisis. The rapid rise in housing prices is spreading recognition of this as a factor in housing price volatility. In addition, this raises the expectations of housing prices in the future. These expectations are based on the assumption that a relationship exists between the current housing prices and expected housing prices in the real estate industry. By performing an empirical analysis on the validity of the claim that an increase in current housing prices can be correlated with expected housing prices, this study examines whether a long-term equilibrium relationship exists between expected housing prices and existing housing prices. If such a relationship exists, the recovery of equilibrium from disequilibrium is analyzed to derive related implications. Research design, data, and methodology - The relationship between current housing prices and expected housing prices was analyzed empirically using the Vector Error Correction Model. This model was applied to the co-integration test, the long-term equilibrium equation among variables, and the causality test. The housing prices used in the analysis were based on the National Housing Price Trend Survey released by Kookmin Bank. Additionally, the Index of Industrial Product and the Consumer Price Index were also used and were obtained from the Bank of Korea ECOS. The monthly data analyzed were from January 1987 to May 2015. Results - First, a long-term equilibrium relationship was established as one co-integration between current housing price distribution and expected housing prices. Second, the sign of the long-term equilibrium relationship variable was consistent with the theoretical sign, with the elasticity of housing price distribution to expected housing price, the industrial production, and the consumer price volatility revealed as 1.600, 0.104,and 0.092, respectively. This implies that the long-term effect of expected housing price volatility on housing price distribution is more significant than that of the industrial production and consumer price volatility. Third, the sign of the coefficient of the error correction term coincided with the theoretical sign. The absolute value of the coefficient of the correction term in the industrial production equation was 0.006, significantly larger than the coefficients for the expected housing price and the consumer price equation. In case of divergence from the long-term equilibrium relationship, the state of equilibrium will be restored through changes in the interest rate. Fourth, housing-price volatility was found to be causal to expected housing price, and was shown to be bi-directionally causal to industrial production. Conclusions - Based on the finding of this study, it is required to relieve the association between current housing price distribution and expected housing price by using property taxes and the loan-to-value policy to stabilize the housing market. Further, the relationship between housing price distribution and expected housing price can be examined and tested using a sophisticated methodology and policy variables.

• World Technopolis Review
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• v.6 no.2
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• pp.130-147
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• 2017

This paper aims to identify the spatial concentrations and linkage properties of industrial clusters in the Chungbuk Province region in Korea using a three-step approach, which is composed of the cluster index, Getis-Ord's $Gi^*$, and qualitative input-output analysis. The results of the study reveal: a) what industrial sectors are concentrated and where they are; b) where the spatially interdependent industries are; and c) how the industrial sectors of the identified clusters in different locations are vertically interconnected. In addition, the degree of strength of the interindustry linkages between industrial clusters are assessed. Based on the findings, some plausible industrial policies are suggested.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.22 no.4
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• pp.228-234
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• 2021

Real estate market participants need to have a sense of predicting real estate prices in decision-making. Commonly used methodologies, such as regression analysis, ARIMA, and VAR, have limitations in predicting the value of an asset, which fluctuates due to unknown variables. Therefore, to mitigate the limitations, an artificial neural was is used to predict the price trend of apartments in Seoul, the hottest real estate market in South Korea. For artificial neural network learning, the learning model is designed with 12 variables, which are divided into macro and micro factors. The study was conducted in three ways: (Ed note: What is the difference between case 1 and 2? Is case 1 micro factors?)CASE1 with macro factors, CASE2 with macro factors, and CASE3 with the combination of both factors. As a result, CASE1 and CASE2 show 87.5% predictive accuracy during the two-year experiment, and CASE3 shows 95.8%. This study defines various factors affecting apartment prices in macro and microscopic terms. The study also proposes an artificial network technique in predicting the price trend of apartments and analyzes its effectiveness. Therefore, it is expected that the recently developed learning technique can be applied to the real estate industry, enabling more efficient decision-making by market participants.

• Korea Real Estate Review
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• v.27 no.4
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• pp.7-20
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• 2017

This study attempts to diagnose and categorize the characteristics of old industrial parks, and eventually link the results to the regeneration of industrial complexes. For this reason, we performed a factor analysis by utilizing 15 indices of 89 industrial parks, excluding 5 large equipment industry sites. The 15 indices were classified into 5 factors. Factor 1 can be described as a category of 'urbanization possibility' for the indices of building age, plot ratio of less than $1,650m^2$, and urbanization ratio of the surrounding area. Factor 2 can be described as a category of 'productive efficiency' for the indices of land productivity, amount of exports by land, employment productivity, and repair costs of industrial areas. Factor 3 can be described as a category of 'infrastructure amenity' for the indices of road ratio, plot ratio attached to the road, and parks and recreation ratio. Factor 4 can be described as a category of 'location potentiality' for the indices of land price, infrastructure age, and distance to the highway, while factor 5 can be described as a category of 'availability of supporting facilities' for the indices of parking lot ratio and supporting facility land ratio. By using these 5 factor scores, we were able to extract industrial parks included in the lower 25% of the factor score and searched for what kind of factor problem they have for each industrial park. Based on these results, this research will provide sufficient information on the decline of industrial parks with respect to their demerits. The results of this study show significant implications and contribute to the establishment of policies for regional competitiveness, as well as job creation, in the process of industrial regeneration.

• Industrial Engineering and Management Systems
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• v.10 no.4
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• pp.264-271
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• 2011

It is necessary for humans who have been facing environmental problems to build a sustainable society in which economic activities coexist with nature. To realize such goals, it is essential to promote and enhance environmental education, and to raise global awareness of environmental issues. As a preceding study, a board game "Ecopoly" based on the Kyoto protocol and the estate dealings game, was developed and the validity of environmental education was verified. This study further aims to develop a computer game "Ecopoly", based on the board game which enables us to learn the relationship between environmental problems and economic activities, and to learn more about environmental problems. This computer game enables to concentrate on it by automatic complicated calculations, and to get a higher visual effect compared with the board game. Experimental testing of the game was conducted with 13 college student subjects, and the validity of the game was verified.

• Journal of Korean Society for Atmospheric Environment
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• v.16 no.3
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• pp.211-223
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• 2000

The atmospheric dispersion of a pollutant emitted from a hypothetical source located in the middle of the Yochon Industrial Estate was simulated by using the Regional Atmospheric Modeling System (RAMS). Four horizontally nested grids were employed: the coarsest one covered the southern part of the Korean Peninsula including Mt. Chiri and the finest one covered the Yochon Industrial Estate and the surrounding area. Wind fields were initially assumed horizontally homogeneous with a wind speed of 4m/s, the average for the Yosu area, and were developed without both external forces and diurnal changes in order to investigate the terrain-induced phenomena. Wind directions that could emphasize the terrain effects on the pollutant transport and that could carry pollutants to a highly-popluated area were selected for the dispersion study. A pollutant was released for 24hours from a grid-base volume source after a 24-h blank run for developing the wind field. The dispersion study showed that the pollutant from the present source location did not directly affect the Yosu City, but showed high concentrations at locations behind the hills 5 to 6 km away from the source according to wind directions. When the wind speed was low, close to calm condition, the pollutant was detected at upstream locations 6 to 7 km from the source. In comparison with the results from the RAMS simulation, the Industrial Source Complex Short-Term Model(ISCST3) predicted a narrow dispersion that was sensitive to the wind direction. When the wind velocity was affected by the local environment, the ISCST3 calculation using that data also gave a lop-sided result, which was different from the distribution of the pollutant reproduced by RAMS.

• The Journal of Industrial Distribution & Business
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• v.9 no.5
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• pp.63-72
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• 2018

Purpose - This work analyzes, in detail, the specification of vector error correction model (VECM) and thus examines the relationships and impact among seven economic variables for USA - balance on current account (BCA), index of stock (STOCK), gross domestic product (GDP), housing price indices (HOUSING), a measure of the money supply that includes total currency as well as large time deposits, institutional money market funds, short-term repurchase agreements and other larger liquid assets (M3), real rate of interest (IR_REAL) and household credits (LOAN). In particular, we search for the main explanatory variables that have an effect on stock and real estate market, respectively and investigate the causal and dynamic associations between them. Research design, data, and methodology - We perform the time series vector error correction model to infer the dynamic relationships among seven variables above. This work employs the conventional augmented Dickey-Fuller (ADF) and Phillips-Perron (PP) unit root techniques to test for stationarity among seven variables under consideration, and Johansen cointegration test to specify the order or the number of cointegration relationship. Granger causality test is exploited to inspect for causal relationship and, at the same time, impulse response function and variance decomposition analysis are checked for both short-run and long-run association among the seven variables by EViews 9.0. The underlying model was analyzed by using 108 realizations from Q1 1990 to Q4 2016 for USA. Results - The results show that all the seven variables for USA have one unit root and they are cointegrated with at most five and three cointegrating equation for USA. The vector error correction model expresses a long-run relationship among variables. Both IR_REAL and M3 may influence real estate market, and GDP does stock market in USA. On the other hand, GDP, IR_REAL, M3, STOCK and LOAN may be considered as causal factors to affect real estate market. Conclusions - The findings indicate that both stock market and real estate market can be modelled as vector error correction specification for USA. In addition, we can detect causal relationships among variables and compare dynamic differences between countries in terms of stock market and real estate market.

• Journal of the Korean association of regional geographers
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• v.4 no.1
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• pp.77-98
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• 1998

In general, spatial imbalance in regional growth is a major cause of social and political conflicts within a state. In Korea, this inequality has functioned as a threat to the state's integration. With the economic development policies by regional industrialization over the past three decades, most of the industrial activities have been concentrated in Seoul and Pusan metropolitan areas, which are surrounded by Kyonggi, Kyongnam provinces respectively. Compared to these areas, Chonnam and Chonbuk provinces have lagged behind in economic development. Therefore, in order to increase the regional economic development of the southwestern region in Korea, the central government has been enforcing several policies aimed at regional industrialization since the 1980s. The purpose of this study focuses on the regional economic impacts of a newly established industrial estate-Yulchon industrial complex- which would act as a regional growth center in the Kwangyang bay area. The Kwangyang bay area consists of several industrial estates such as Kwangyang Iron and Steel Co. and its related industrial complex, Chuam rural industrial estate, Yeochon industrial complex, and so on. In addition, the Kwangyang container port was constructed in 1997. The Kwangyang bay area has been changing to a new industrial district in the southwestern part of Korea as a result of industrialization policies which were activated by central government. The Yulchon industrial complex, which is expected to be completed in 2001, would draw many manufacturing plants. For example, Hyundai Motors Co. has a plan to locate a new automobile assembly plant within the estate. As the plan has high probability to be realized, it will be interesting to study the effects a new automobile assembly plant and its related production linkages have on the region. This study is to estimate the expected structural characteristics of automobile production activities in Yulchon. The following details will be discussed: the regional economic impacts of a new automobile industry in Yulchon industrial complex, the production linkage formation via hierarchical subcontracting systems, the alternative strategies to promote the growth of regional economies, and the scheme to improve the auto-parts and components industry in Kwangju and Chonnam provinces by establishing auto-mobile production function. Automoblie industry generally gives great influences on not only regional economies but the related industries, for example, the firms producing automotive components. If a new plant producing automobiles and its related firms producing components are to be established in Yulchon, they will affect on the regional development directions and change the regional characteristics of industrial structure. In order to increase the spread effects of the new industry in Yulchon industrial complex, almost all of the automobile production processes must be organized concurrently within a limited range of distance. There is an imperative that the co-operation system should be structured between the assembly firm and many firms producing its components. In addition to those, it would be required such as the effective division of labors between the firms, much more capabilities in the technical innovations, and the reconstruction of interrelationship between the labor unions and the firms' managers.