• Title/Summary/Keyword: Industry Crisis

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Crisis Prediction of Regional Industry Ecosystem based on Text Sentiment Analysis Using News Data - Focused on the Automobile Industry in Gwangju - (뉴스 데이터를 활용한 텍스트 감성분석에 따른 지역 산업생태계 위기 예측 - 광주 지역 자동차 산업을 중심으로 -)

  • Kim, Hyun-Ji;Kim, Sung-Jin;Kim, Han-Gook
    • The Journal of the Korea Contents Association
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    • v.20 no.8
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    • pp.1-9
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    • 2020
  • As the aging problem of the regional industry ecosystem has gradually become serious, research to measure and regenerate the regional industry ecosystem decline has been actively conducted. However, little research has been done on regional industry ecosystem crises. Crisis emerges radically over a short period of time, and it is often impossible to respond by post-response, so you must respond before the crisis occurs. In other words, it is more necessary and required when looking at the crisis early and taking a proactive response from a long-term perspective. Therefore, it is necessary to develop a predictive model that can proactively recognize and respond to the crisis in the regional industry ecosystem. Therefore, this study checked the possibility of predicting the risk of regional industry and market according to the emotional score of the news by using large-scale news data. News sentiment analysis was performed using the Google sentiment analysis API, and this was organized by month to check the correlation between actual events.

The Financial Crisis of Korean Economy and the Changing Economic Space of Gwangiu City (IMF금융위기와 광주권 경제공간의 변화)

  • 김재철
    • Journal of the Economic Geographical Society of Korea
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    • v.3 no.1
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    • pp.5-20
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    • 2000
  • Recently as globalization of financial capital is progressed, possibility of crisis and unreliability of world economy is more growing. Korean economy required radical restructuring because of the financial crisis and the economic changes occurred in that process. This study is to explain the economic changes of Gwanagju city is produced by the financial crisis of Korean economy The most important industries are service and transportation equipment in Gwangju city. These industries began to decrease after financial crisis but machinery equipment, electrical machinery & electronics and rubber goods & plastic industry is growing relatively. Because of the decrease of service, the economy of inner city which service industry relatively agglomerated in is reducing. And agglomeration space for the optical photonics industry was built up by the upbringing policy of government on high-technology industry to overcome the economic crisis and micro industrial space such as venture building and establishment nursery center was built up. But high-technology industries have many geographical limits to embed in Gwanagju city, so there needs to construct regional innovation system for knowledge based economies

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Macroeconomic Effects of the Global Resource Crisis (글로벌 자원위기의 거시경제적 효과분석)

  • Song, Tae-Jung;Kim, Gi-Seung
    • The Journal of the Korea Contents Association
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    • v.8 no.10
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    • pp.259-267
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    • 2008
  • This research will examine the probabilities of future global resource crisis and what significance and effect will come upon our economy through the rise of the cost of resources. From now on, the lack of the supply of global resources will dull the world economic growth. Not only that, but the direction of each country's economic development will be decided by the appropriate measure to the resource crisis. If we are to sustain this inefficient industrial structure, as a country with high dependancy on foreign resources, Korea might face macroeconomic shock and the loss of industrial competitiveness. Therefore, we must increase the efficiency of the resource usage in the manufacturing industry such as the chemical and steel industry, and now is a period when we must add high value to our products. Henceforth, the structural constraints of supply will be the root cause of resource crisis. Thus, we must lead the subject of the economic agencies, such as companies and consumers, so that they will be able to adapt to a new paradigm called the fundamental lack of resources, rather than temporal crisis management. The Korean economy must adjust the environment for industry transformation to be achieved.

Present Status and Prospects of Horticultural Seed Industry (원예종묘산업의 현황과 발전전망)

  • Kim Byung Soo;Om Young Hyun
    • Proceedings of the Korean Society of Crop Science Conference
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    • 1998.10a
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    • pp.336-352
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    • 1998
  • The horticultural seed industry has made great progress in the last fifty years of its history after the independence of this country. The industry has accomplished self-sufficiency in major vegetable seeds and has even gained international competitive edge in certain crop seeds, particularly in hybrid cultivar development. However, the industry is facing a crisis at present coming from excessive competition among the domestic seed companies as well as the foreign currency crisis of the country. Several major seed companies have already been acquired by multinational corporations. Many people in the country as well as agriculturists are concerned about this situation. Although it is true that the industry is undergoing hard times, this crisis can be turned into a chance for making new progress depending on the joint efforts of the groups responsible, i.e., private companies, public institutions, and policy makers. Therefore, we have to turn this crisis into an opportunity for self-reform and progress. We should not be discouraged or give up. We Propose some ideas for the Progress of the seed industry. Public institutions and policy makers should do such things in cooperation as 1) training human resources for future breeders, 2) securing a wide range of genetic resources and improvement of the management system, 3) basic science research including biotechnology, 4) releasing breeding stocks from germplasm enhancement through use of exotic accessions, 5) support for breeding region- or use-specific cultivars, and 6) collection of foreign agricultural information for breeding cultivars for overseas markets. Eventually the responsible group for the final development of commercial cultivars, production, sales and management is private companies. Therefore, private companies also should have to do their best to develop competitive cultivars with a missionary spirit and endeavor for both domestic and overseas markets in cooperation with public institutions. Management based on competition, professionalism and rationalism is also urged. We are going to conclude with optimism that we can make a new vault of progress once the private and public sectors closely cooperate for the development of Korean horticultural seed industry by overcoming this crisis.

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FPD Industry, Challenge for Value Creation

  • Chang, Won-Kie
    • 한국정보디스플레이학회:학술대회논문집
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    • 2009.10a
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    • pp.1-1
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    • 2009
  • Recently, the FPD industry has faced the limit in market growth due to lack of new growth engine as a replacement of television. With sluggish market demand deepened by global economic crisis and persistent concern over panel oversupply, growth of the panel market has sharply slowed down, and profitability has been eroded. This also has tremendous effect on related industries including component, material and machine industries, spreading a sense of crisis across the whole FPD industry. Under this circumstance, for the FPD industry to take off once again, all involved in the FPD industry must cooperate and come up with innovative ideas, and identify the driving force to realize turbo-charged growth.

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Influences of Crisis Types and Crisis Communication Strategy on Consumers' Attitudes and Negative Behavioral Intentions in the Auto Market: in the Case of Chinese International Students (자동차시장의 위기 유형과 커뮤니케이션 전략이 소비자 태도와 부정적 행동 의도에 미치는 영향: 중국인 유학생을 중심으로)

  • Lu, Yeshan;Choi, Youjin
    • The Journal of the Korea Contents Association
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    • v.20 no.10
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    • pp.294-307
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    • 2020
  • The global automotive industry has suffered various crises such as products defects and unethical company management. In order to examine the effectiveness of crisis communication strategy of an automotive company with Chinese consumers who occupy the largest proportion in the global market, this research analyzed the influences of crisis responsibility, crisis types, and crisis communication strategy on attitudes to a company, intentions of negative communication, and intentions to participate in a boycott. A 2(crisis responsibility: high/low) × 2(crisis types: corporate ability/corporate crisis responsibility) × 2(strategy: defensive/accommodative) experimental design was conducted with 1,600 Chinese students in Seoul. High crisis responsibility and corporate social responsibility crises were related to unfavorable attitudes to a company, higher intentions of negative communication, and higher intentions to participate in a boycott. Crisis responsibility and communication strategy showed a significant interaction. When crisis responsibility was high, the accommodative strategy was more effective than the defensive strategy. When crisis responsibility was low, there was no difference between the strategies. Corporate social responsibility crises found no difference between the strategies regardless of the crisis responsibility level. In the case of corporate ability crises, the accommodative strategy was more effective for the high crisis responsibility crisis.

Qualitative Content Analysis: Solutions for Tourism Industry to Overcome the Crisis in a Post-Covid 19 era

  • LEE, Soo-Hee
    • The Journal of Industrial Distribution & Business
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    • v.13 no.9
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    • pp.27-36
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    • 2022
  • Purpose: The coronavirus pandemic has affected the tourism industry in a big way. The travel industry suffered intense damage from the pandemic and procedures acquainted to containing its spread because the pandemic outbreak has led to a decline in the number of tourists and a change in their behavior. At this point, this research is to investigate adequate solutions for tourism industry to overcome the crisis in a post-Covid 19 era. Research design, data and methodology: The current author gathered data from each included study to analyze and summarize the evidence when conducting a literature analysis. This stage involves gathering and reviewing intricate texts databases for the meta-analysis. Results: The current author found total five solutions from numerous literature contents, suggesting how to overcome the crisis in a post-Covid era for tourism industry. Solutions as follows, (1) Drawing beginning illustrations, (2) Introducing Government Backing Programs, (3) Increasing Promotion of Tourism Destinations, (4) Enhancing Safety and Security Measures, and (5) Improving Infrastructure and Facilities. Conclusions: This research suggests that although the global economic recession leads to reduced demand and intense competition from other sectors, the tourism industry will be well positioned to weather these challenges if practitioners of tourism organizations follow five solutions of this research.

Empirical Analysis on the Spillover Effects between Korean and U.S. Stock Market after U.S. Financial Crisis (서브프라임사태 전후 한미간 정보전이현상에 관한 연구)

  • Yae, Min Soo
    • Journal of Korea Society of Digital Industry and Information Management
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    • v.4 no.4
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    • pp.113-125
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    • 2008
  • This paper investigates the spillover effects(co-movements) between korean and U.S stock market by KOSPI and DJIA Index. Especially it compare to the pre- and post period of U.S. financial crisis resulted from sub-prime mortgage loan. The main results are as follows. First, the spillover effects of DJIA(U.S. market) to KOSPI(Korean market) are strong. This result accord with the former researches on this subject. Second, spillover effects are more strong after U.S. financial crisis. A possible reason for this phenomenon is a trend which the major investors such as foreign and institutional investors in domestic stock market have more attention to U.S. stock market. Third, the spillover effects appear in the opposite direction, that is KOSPI(Korean Stock Market) to DJIA(U.S. Stock Market). It seems to be the results of asian stock market's growing infIuences to European and U.S Markets.

The Impact of the Oil Crisis on the Shipping Industry (1970년대의 석유위기가 해운산업에 미친 영향)

  • 민성규
    • Journal of the Korean Institute of Navigation
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    • v.6 no.2
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    • pp.65-75
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    • 1982
  • During the last decade the world had experienced oil crisis twice: the first one was the fourfold jump in oil prices in 1973 and 1974, the second one came in 1979 with 2.6 times price hike. The current crude oil prices stand around the level of $30 a barrel. The first reaction came quick, with reduced oil consumption and a general decline in economic activity. Furthermore, the second oil crisis has brought about tremendous and varied impacts upon the shipping industry, which is now undergoing an adaptation process to the changing environments. This article is divided into five chapters: chapter I is the introduction on the subject under examination; chapter II is devoted to the trends of the seaborne trade cargoes after the oil crisis; chapter III reveals the impact of the oil price hike on ships and their desion; chapter IV deals with the challenges shipping enterprises face in terms fo economic modus operandi and new international political environments; chapter V sets forth conclusion.

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A Component Model for Managing Covid-19 Crisis

  • Taweel, Faris M.
    • International Journal of Computer Science & Network Security
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    • v.21 no.7
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    • pp.365-373
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    • 2021
  • Covid-19 posed a serious threat to public health worldwide, especially in the absence of vaccines or medicines. The only viable strategies to combat a virus with a high infection rate were to apply lock-down strategies, transport ban, social and physical distancing. In this work, we provide a domain-specific component model for crisis management. The model allows for building a plan for managing Covid-19 crisis and use the plan as a template to generate a system specific for managing that crisis. The crisis component model is derived from X-MAN II, a generic component model that we have developed for the aircraft industry