• Journal of Distribution Science
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• v.11 no.4
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• pp.81-88
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• 2013

Purpose - This paper analyzes the influence of the RMB internationalization on the KRW/dollar exchange rate using an autoregressive distributed lag model. Comparing the parameter estimators from the sample period before and after the global financial crisis, we found that the RMB/dollar exchange rate has increasingly become more influential on the KRW/dollar exchange rate. Moreover, for the past several years, the Chinese government has actively utilized the financial service FTA negotiation as a measure for the RMB internationalization. This paper simultaneously considers RMB internationalization and financial service negotiations in the Korean-Chinese FTA. The purpose of this paper is to explicitly suggest a direction for the financial service negotiations in the Korean-Chinese FTA considering the effects of RMB internationalization. Research design, data, and methodology - The research plan of this paper has two parts. First, for an empirical study, this paper uses the daily exchange rate of the U.S. dollar against the currencies of the ASEAN5, Taiwan,and Korea. By using an autoregressive distributed lag model, this paper studies the influence of the change in the RMB/dollar exchange rate on changes in the local currency/dollar exchange rate in seven economies neighboring China. Our sample periods are 06/2005 - 07/2008 and 06/2010 -02/2013. During these periods, China was under the multi-currency basket system. We exempted the period of 08/2008 - 05/2010 from the analysis because there was nearly no RMB/dollar exchange rate fluctuation during those months. Second, after analyzing the recent financial service liberalizations and deregulations in China, we recommend a direction for the financial service negotiations in the Korean-Chinese FTA. In the past several years,the main Chinese financial policy agenda has surrounded the RMB internationalization. Therefore, it is crucial to understand this in the search for strategies for the financial service negotiations in the Korean-Chinese FTA. This paper employs an existing literature survey and examines the FTA protocols in its research methodology. Results and Conclusions - After the global financial crisis, the Chinese government wanted to break away from the dollar influence and pursued independent RMB internationalization in order to continue the growth and stability of its economy. Hence, every neighboring economy of China has been strategically impacted by RMB internationalization. Nevertheless, there is little empirical study on the influence of RMB internationalization on the KRW/dollar exchange rate. This paper is one of the few studies to analyze this problem comprehensively. By using a relatively simple estimation model, we can confirm that the coefficient of the RMB/dollar exchange rate has become more significant, except in the case of Indonesia. Although Korea is not under the multi-currency basket system but under the weakly controlled floating exchange rate system, its coefficient appears as large as that of the ASEAN5. This is the basis of the currency cooperation that has grown from the expansion of trade between the two countries. These empirical results suggest that the Korean government should specifically consider the RMB internationalization in the Korean-Chinese FTA negotiations.

• Journal of Distribution Science
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• v.11 no.10
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• pp.93-105
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• 2013

Purpose - This empirical analysis determines the structured causal relations between perceived value, customer satisfaction, and repurchase intention among users of traditional markets. The results of this analysis would help merchants and market operators indevisingan appropriate strategy to successfully manage traditional markets. Research design, data, methodology - The perceived value model of traditional markets includes functional value (price), functional value (quality), emotional value, and social value. In this study, the perceived value of traditional markets is considered as an independent variable, while customer satisfaction and repurchase intention are shown as the dependent variables, where customer satisfaction is also considered as the mediating variable. The study aims to ascertain the extent of influence of the perceived value of traditional markets on customer satisfaction and repurchase intention. We use regression analysis to verify the effects. The measurement items were already deemed as reliable and valid in the previous study, but for this purpose, we made some modifications. We distributed questionnaires to 300 consumers on a national scale, and finally used 241 consumer responses among these as a sample. We analyzed the data using the SPSS 21.0 statistical program. Results - We obtained the following results. First, the order of perceived value dimensions of traditional markets that positively impact customer satisfaction is functional value (price), social value, emotional value, and functional value (quality). Second, the perceived value sometimes directly affects repurchase intention; its effect is typically strong with customer satisfaction as a parameter. The order of perceived value dimensions that positively impact repurchase intention is social value, functional value (price), emotional value, and functional value (quality). Third, the perceived value significantly influences repurchase intention, with customer satisfaction as the mediating variable. Conclusions - We should recognize the importance of perceived value in retail distribution markets, such as traditional markets. Moreover, we need to develop strategies to improve the perceived value. The practical implications of the study are as follows. First, with regards to functional value (quality; price) dimensions, we should have an appropriate assortment of high quality products that are reasonably priced. In addition, customers are satisfied with the friendly service, discounts, and other benefits provided by the merchants. Second, in terms of emotional value dimension, we need to develop differentiated events that provide fun and emotional experience to the customers. Third, in the context of social values dimension, we should strive to positively influence society to enhance social image through activities such as social services and contribution to community development. On the basis of these results, we present the implications, limitations, and future directions for the research. One of the policy implications of the study is that merchants of traditional markets must actively select customers and develop customer value. However, this study is limited in the fact that the population used for data collection is not fully representative, as the survey only covered some specific areas. Moreover, future studies could also benefit with additional research using moderating variables.

• Journal of Distribution Science
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• v.10 no.11
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• pp.79-88
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• 2012

Purpose - The objective of this paper is to suggest that a company's CRM activities have an effect on customer loyalty in the Korean retail industry. Typically, Korean customers use large local marts with convenience in the absence of any other choice. Therefore, this study aims to shed light on the fact that customers do not break away from their preferred retail stores, either owing to their stringent loyalty (the lie loyalty) or difficulty in turning to alternative choices. Research design, data, methodology - By surveying a sample of 200 hyper-markets through a questionnaire, and excluding dubious and missing responses, I obtained 181 samples to be included in the empirical analysis. The survey was conducted for two weeks during October 2011. AMOS and SPSS18 statistical packages were used for conducting statistical analysis for this study. This paper was developed using the concept of customer equity on CRM, which is known to have a positive impact on customer loyalty through the satisfaction and switching-barrier parameters. The hypothesis of this paper is that customer equity is composed of relationship equity, value equity and brand equity, and that the relationship equity variable has positive effects on the value equity and brand equity amongst other types of customer equity. Moreover, customer equity influences customer loyalty through parameters including customer satisfaction and switching costs in the Korean retail industry. Results - According to the results of the analysis, it was confirmed that relationship value had a positive effect (+) on all variables, including the perceived QoS (Quality of Service), store brand images, economic value, and store convenience. It was also confirmed that the assumption that the perceived QoS (Quality of Service), economic value, and store convenience had a positive effect on customer satisfaction was shown to be statistically significant, with a p-value below 0.05. Only the store brand value variable had an effect on the switching-cost variable with respect to the causal sequence of the variables, including the perceived QoS, store brand value, economic value, and store convenience. The remaining variables did not seem to influence the switching-cost variable. On the other hand, another effect showed that customer satisfaction had a statistically significant influence on the switching-costs variable. Moreover, the customer satisfaction and switching-cost variables also had a statistical influence on customer loyalty. Conclusions - The CRM activities had an influence on various variables (including perceived QoS, perceived economic value, store brand value, and store convenience) pertaining to customer values. Customer satisfaction and switching-cost had some effects on customer loyalty as a parameter. This confirms that stringent loyalty exists with respect to customer loyalty in the retail industry. The fact that the variable had such a statistically significant influence on the switching-cost and store brand equity variables means that consumers react to the reputation of a brand, confidence about the store, and quality confidence. The implications of this study in the retail industry should be further extended to devise strategies for customer retention.

• Proceedings of the Korean Society for Noise and Vibration Engineering Conference
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• 2013.04a
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• pp.835-841
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• 2013

Modern solid-state gyroscopes (HRG) with hemispherical resonators from high-purity quartz glass and special surface superfinishing and ultrathin gold coating become the best instruments for precise-grade inertial reference units (IRU) targeting long-term space missions. Designing of these sensors could be a notable contribution into development of Korea as a space nation. In participial, 40mm diameter thin-shell resonator from high-purity fused quartz, fabricated as a single-piece with its supporting stem has been designed, machined, etched, tuned, tested, and delivered by STM Co. (ATS of Ukraine) several years ago; an extremely-high Q-factor (upto 10~20 millions) has been shown. Understanding of the best way how to match such a unique sensor with inner glass assembly of the gyro means how to use the high potential in a maximal extent; and this has become the urgent task. Inner quartz glass assembly has a very thin indium (In) layer soldered the resonator and its silica base (case), but effects of internal resonances between operational modal pair of the shell-cup and its side (parasitic) modes can notable degrade the potential of the sensor as a whole, instead of so low level of resonator's intrinsic losses. Unfortunately, there are special combinations of dimensions of the parts (so-called, "resonant sizes"), when intensive losses of energy occurs. The authors proposed to use the length of stem's fixture as an additional design parameter to avoid such cases. So-called, a cyclic scheme of finite element method (FEM) and ANSYS software were employed to estimate different combinations of gyro assembly parameters. This variant has no mismatches of numerical origin due to FEM's discrete mesh. The optimum length and dangerous "resonant lengths" have been found. The special attention has been paid to analyses of 3D effects in a cup-stem transient zone, including determination of a difference between the positions of geometrical Pole of the resonant hemisphere and of its "dynamical Pole", i.e., its real zone of oscillation node. Boundary effects between the shell (cup) and 3D short "beams" (inner and outer stems) have been ranged. The results of the numerical experiments have been compared with the classic model of a quasi-hemispherical shell band with inextensional midsurface, and the solution using Rayleigh's functions of the $1^{st}$ and $2^{nd}$ kinds. To guarantee the truth of the recommended sizes to a designer of the real device, the analytical and FEM results have been compared with experimental data for a party of real resonators. The consistency of the results obtained by different means has been shown with errors less than 5%. The results notably differ from the data published earlier by different researchers.

• Journal of Wetlands Research
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• v.20 no.2
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• pp.105-115
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• 2018

The frequency analysis of hydrometeorological data is one of the most important factors in response to natural disaster damage, and design standards for a disaster prevention facilities. In case of frequency analysis of hydrometeorological data, it assumes that observation data have statistical stationarity, and a parametric method considering the parameter of probability distribution is applied. For a parametric method, it is necessary to sufficiently collect reliable data; however, snowfall observations are needed to compensate for insufficient data in Korea, because of reducing the number of days for snowfall observations and mean maximum daily snowfall depth due to climate change. In this study, we conducted the frequency analysis for snowfall using the Bootstrap method and SIR algorithm which are the resampling methods that can overcome the problems of insufficient data. For the 58 meteorological stations distributed evenly in Korea, the probability of snowfall depth was estimated by non-parametric frequency analysis using the maximum daily snowfall depth data. The results of frequency based snowfall depth show that most stations representing the rate of change were found to be consistent in both parametric and non-parametric frequency analysis. According to the results, observed data and Bootstrap method showed a difference of -19.2% to 3.9%, and the Bootstrap method and SIR(Sampling Importance Resampling) algorithm showed a difference of -7.7 to 137.8%. This study shows that the resampling methods can do the frequency analysis of the snowfall depth that has insufficient observed samples, which can be applied to interpretation of other natural disasters such as summer typhoons with seasonal characteristics.

• Journal of Korea Water Resources Association
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• v.47 no.2
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• pp.161-170
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• 2014

It is important to estimate an appropriate quantile for design of hydraulic structure. For this purpose, it is necessary to find the appropriate probability distribution which can represent the sample data well. Probability plot correlation coefficient test as one of goodness-of-fit test, is recently developed and has been known as a simple and powerful method. In this study, probability plot correlation coefficient test statistics using the plotting position considering the coefficients of skewness for the GEV distribution is derived, and represented by the regression equation. Monte-Carlo method is also performed to compare the rejection power between each method. As the results, the probability plot correlation coefficient test which is derived in this study is better than the others. In particular, when sample size is small and distribution has the shape parameter, rejection power of probability plot correlation coefficient test considering the coefficients of skewness is bigger than the others.

• Journal of Korean Society of Coastal and Ocean Engineers
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• v.19 no.4
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• pp.313-319
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• 2007

Long term wave climate of both extreme and operational wave height is essential for planning and designing coastal structures. Since the availability of the field wave data for the waters around Korean peninsula is limited to provide a reliable wave statistics, the wave climate information has been generated by means of long-term wave hindcasting using available meteorological data. In this paper, a set of deep water wave data obtained from KORDI(2003) were analyzed for extreme wave heights. These wave data at 67 stations off the Korean coast from 1979 to 1998 were arranged in the 16 directions. The probability distributions considered in this research were the FT-I and Weibull distribution. For each of these distributions, the method proposed by Goda(2004) was applied to estimate the parameters. For judgment of best fitting, MIR criterion proposed by Goda and Gobune(1990) was used. FT-I distribution which best fits to the 886 data, while Weibull(k=0.75) 81 data, Weibull(k=1.00) 105 data.

• The Journal of Korean Institute of Electromagnetic Engineering and Science
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• v.22 no.6
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• pp.584-597
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• 2011

In this paper, low-loss and high-power RF SP6T switch chips are designed, fabricated and measured for GSM/EGSM/DCS/PCS applications using WIN Semiconductors 0.5 ${\mu}m$ pHEMT process. We utilized a combined configuration of series and series-shunt structures for optimized switch performance, and a common transistor structure on a receiver path for reducing chip area. The gate width and the number of stacked transistors are determined using ON/OFF input power level of the transceiver system. To improve the switch performance, feed-forward capacitors, shunt capacitors and parasitic FET inductance elimination due to resonance are actively used. The fabricated chip size is $1.2{\times}1.5\;mm^2$. S-parameter measurement shows an insertion loss of 0.5~1.2 dB and isolation of 28~36 dB. The fabricated SP6T switch chips can handle 4 W input power and suppress second and third harmonics by more than 75 dBc.

• Journal of Distribution Science
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• v.13 no.12
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• pp.113-131
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• 2015

Purpose - In today's era of globalization, the competitive power of enterprises is growing fiercer, calling for organizations to be able to respond flexibly to survive and maintain predominance in competition. In turn, keen competition exists among enterprises for the systematic management of members' knowledge to secure predominance in such competition. Under such circumstances, SMEs must find and utilize positive causes for change that affect organizational performance. The objective of this study is to analyze the structural relationship between four factors known from prior research-a CEO's positive leadership, members' positive life positions, learning organization activities, and job engagement-and organizational performance. Research design, data, and methodology - To achieve this objective, this study established the following four research problems. First, do CEOs' positive leadership, members' positive life positions, learning organization activities, and job engagement affect organizational performance? Second, do CEOs' positive leadership, members' positive life positions, and learning organization activities affect job engagement? Third, do CEOs' positive leadership and members' positive life positions affect learning organization activities? Fourth, does CEOs' positive leadership affect members' positive life positions. Additionally, to achieve the objective of this study, the research model was selected on the basis of a documentary survey of 787 full-time employees at 100 SMEs, which was used to collect related data. Results - The following conclusions were drawn. First, a CEO's positive leadership directly affects members' positive life positions, learning organization activities, and job engagement. Second, positive leadership only indirectly affects organizational performance. That is, positive leadership has an indirect effect on organizational performance given the parameters of members' positive life positions, learning organization activities, and job engagement. Third, members' positive life positions directly affect learning organization activities and job engagement, but indirectly affect organizational performance with learning organization activities and job engagement as parameters. Fourth, learning organization activities directly affect job engagement and organizational performance. Additionally, learning organization activities indirectly affect organizational performance with job engagement as a parameter. Fifth, job engagement directly affects organizational performance. Conclusions - A CEO's positive leadership and members' positive life positions do not directly affect organizational performance but have a positive effect through learning organization activities and job engagement. In particular, CEOs' positive leadership was proven to be the major factor to affect members' positive life positions, learning organization attitudes, and job engagement, and learning organization activities and job engagement were found to be major factors that directly affect organizational performance. Considering these conclusions, the direct effect of a CEO's positive leadership on organizational performance is not statistically significant but seems to affect members' positive life positions, learning organization activities, and job engagement, which ultimately affects organizational performance. In addition, CEOs' positive leadership is an important factor that enhances the factors with the strongest effect on organizational performance-activities of learning organizations and job engagement.

• Journal of Distribution Science
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• v.15 no.6
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• pp.77-96
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• 2017

Purpose - This study aims to develop correspondence strategies to the environment change in domestic retail store types. Recently, new types of retails have emerged in retail industries. Therefore, trade area platform has developed focusing on the speed of data, no longer trade area from district border. Besides, 'trade area smart' brings about change in retail types with the development of giga internet. Thus, context shopping is changing the way of consumers' purchase pattern through data capture, technology capability, and algorithm development. For these reasons, the sales estimation model has been shown to be flawed using the notion of former scale and time, and it is necessary to construct a new model. Research design, data, and methodology - This study focuses on measuring retail change in large multi-shopping mall for the outlook for retail industry and competition for trade area with the theoretical background understanding of retail store types and overall domestic retail conditions. The competition among retail store types are strong, whereas the borders among them are fading. There is a greater need to analyze on a new model because sales expectation can be hard to get with business area competition. For comprehensive research, therefore, the research method based on the statistical analysis was excluded, and field survey and literature investigation method were used to identify problems and propose an alternative. In research material, research fidelity has improved with complementing research data related with retail specialists' as well as department stores. Results - This study analyzed trade area survival and its pattern through sales estimation and empirical studies on trade areas. The sales estimation, based on Huff model system, counts the number of households shopping absorption expectation from trade areas. Based on the results, this paper estimated sales scale, and then deducted modified probability model. Conclusions - In times of retail store chain destruction and off-line store reorganization, modified Huff model has problems in estimating sales. Transformation probability model, supplemented by the existing problems, was analyzed to be more effective in competitiveness business condition. This study offers a viable alternative to figure out related trade areas' sale estimation by reconstructing new-modified probability model. As a result, the future task is to enlarge the borders from IT infrastructure with data and evidence based business into DT infrastructure.