• Title/Summary/Keyword: Power Market

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A Comparative Analysis of Construction Labor Productivity in OECD Countries (OECD 국가의 건설업 노동생산성 비교 및 분석)

  • Park, Hwan-Pyo
    • Journal of the Korea Institute of Building Construction
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    • v.23 no.2
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    • pp.175-185
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    • 2023
  • Upon analyzing labor productivity in the construction industry across OECD countries, it was found that in 2019, labor productivity per employee in the South Korean construction industry was lower than that of major developed countries when adjusted for purchasing power parity(PPP). Specifically, when benchmarked against other countries at a base of 100, South Korea scored 76.9 in the United States, 88.4 in Japan, and 85.1 in the OECD average. Notably, South Korea ranked 25th in labor productivity per employee in the construction industry among 35 OECD countries in 2019, indicating a low standing. A comparative analysis of the construction market size and labor productivity in the construction industry across OECD countries revealed that larger construction markets did not necessarily correlate with higher labor productivity. To enhance labor productivity in the construction industry, this study proposed the active implementation of smart construction technology at construction sites and the promotion of on-site assembly work using off-site construction(OSC) technology, rather than traditional on-site labor. Moreover, it was recommended that the development of modular construction methods and technologies be expanded. In the future, if off-site production methods and modules are further developed through advanced robotics and factory automation, labor productivity is anticipated to increase due to the restructuring of production methods, such as manufacturing.

The Effects of Inward Foreign Direct Investment on Innovation in Korean Industries (외국인직접투자가 혁신에 미치는 영향)

  • Yim, Jeong-Dae;Kim, Seok-Chin;Jung, Se-Jin
    • Korea Trade Review
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    • v.43 no.2
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    • pp.87-105
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    • 2018
  • We investigate the effects of inward foreign direct investment on innovation in Korean industries from 1998 to 2015 by first dividing FDI into greenfield and M&A (mergers and acquisitions). Furthermore, we use the number of patent applications as the proxy of innovation. Our empirical results are as follows: First, inward foreign direct investment has a significantly positive effect on the number of patent applications. This result suggests that the transfer of technology or knowledge through the inward foreign direct investment has a positive impact on innovation in Korean industries. Second, the greenfield investment has a positive impact on patent applications. This result is consistent with Liu and Zou (2008)'s assertion that greenfield investment has a positive impact on innovation by increasing facilities or plants. The M&A investment, however, has no significant effect on patent applications. This result is consistent with Stiebale and Reize (2011) who argue that the host countries do not benefit from technology transfer through M&A investments. In addition, this supports Liu and Zou (2008) and Garcia et al. (2013)'s hypothesis that foreign parent firms do not influence the innovation of host countries by employing strategies to increase market power rather than R&D activities through M&A investments. It is meaningful that this study first analyzes the impact of foreign direct investment on innovation in Korean industries and uses the number of patent applications as a proxy of innovation. Our empirical evidence provides policy implications for innovation and attraction of inward foreign direct investments.

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An Interactive Method between HSE System and Wearable Components through Analysis on Risk Scenarios (위험 시나리오 분석을 통한 스마트 HSE 시스템 및 웨어러블 컴포넌트 연동방안)

  • Shon, DongKoo;Lim, Dong-Sun;Im, Kichang;Park, Jeong-Ho;Kim, Jong-Myon
    • Asia-pacific Journal of Multimedia Services Convergent with Art, Humanities, and Sociology
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    • v.8 no.5
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    • pp.407-416
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    • 2018
  • The development of modern technology has rapidly grown the field of wearable devices. Wearable equipments should satisfy low power consumption and small/lightweight because of characteristics of body wearing. In this paper, an overview of wearable equipments is explained, and wearable device market is investigated. In addition, we investigate developed technology of wearable components, which is divided into component and communication technology. Meanwhile, a smart HSE system is required to meet the demand of the society for the serious industrial accident. To address this issue, we propose an interactive method between the wearable component and the HSE system, which are expected to be effective in safety management. As a detailed case study, a risk scenario is made with risk factors in welding workshop, and then we propose an interactive method between a wearable component and an HSE system that can reduce the risk. This proposed method is useful to achieve high level of worker's safety.

A Study on the Application of SPA brand to BI Color and User Preference (SPA 브랜드의 BI 색채 적용 현황과 사용자 선호도 조사)

  • Park, Han Na;Paik, Jin Kyung
    • Design Convergence Study
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    • v.17 no.2
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    • pp.45-57
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    • 2018
  • Sales for SPA brand names of private label apparels are on the rise in the domestic clothing market. The aim of this study is to analyze the characteristics of SPA brands and how each color system is proposed within the BI system. In this study, 8 brands were selected as the most popular SPA brands in Korea and abroad with stores based on brand power and sales and preference by consumers. Therefore, among information factors such as brand identity (BI) and color characteristic. sign system, package, and environmental factors, buildings facade and interior design of eight brands were investigated. Research into color application of BI revealed that four brands used red colors with different tones with different identity differentiation. For the other four brands, the company applied BI designs that gained the brand's character such as a black-and-white or dark blue one. Thus, it is considered important to select BI color in order to differentiate and enhance preferences in brand identity.

Study on Brand Experience and Personality Effect on Brand Attitude and Repurchase Intention in Food-Franchised (외식 프랜차이즈 브랜드 경험 및 개성이 브랜드 태도와 재구매의도에 미치는 영향)

  • Yang, Ji-An;Lee, Sang-Yoon;Lee, Dong-Han
    • The Korean Journal of Franchise Management
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    • v.3 no.1
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    • pp.26-45
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    • 2012
  • Market players have realized the importance of brand power and tried to develop effective marketing programs which focus on consumer's brand experience. This study aims to investigate brand experience and brand personality effect on brand attitude which is overall consumer's faith toward brands and repurchase intention in food-franchised by Structural Equation Model. As results, both brand experience and brand personality affect brand attitude although brand experience has more influence than brand personality. As consumers show positive brand experience and attitude, repurchase intention is higher. Brand attitude plays a mediation role in the relation of brand experience and personality, and repurchase intention. Also brand experience shows more influence than others on repurchase intention.

Improving the Design-phased VE Process of Public Clients in Relation to Using Critical Success Factors (핵심성공요인과 연계한 공공발주기관의 설계VE 프로세스 개선에 관한 연구)

  • Park, Heedae;Han, Seung Heon;Kim, Sung Soo
    • KSCE Journal of Civil and Environmental Engineering Research
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    • v.29 no.3D
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    • pp.399-408
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    • 2009
  • The major changes in construction environment are that construction project is bigger and more complicated and the power of construction market changes from the supplier to the client or the user. Especially public construction enterprises have advanced to introduce the value engineering (VE) which is one of the cost management based on the owner's leading at the design phase for economical efficiency and quality improvement. According to the these efforts, the implementation of VE was legislated in the revised Construction Technology Management Act in 2000, governmental agencies, local autonomies, and construction public enterprises universally has taken the VE into consideration. In this circumstance, the scope that VE construction applied at 50 billion won projects from 2003 has been extended to 10 billion won projects in 2006. Therefore, the VE construction will be activated in the future. The cost savings and function improvement, which are the purpose of VE are not only construction public enterprises, but also every public client supported from government's budget or owned by the government. Therefore, the purpose of this study is to propose the improved process and performance index of VE for governmental agencies, local autonomies, and construction public enterprises which want to introduce or improve the VE process. This research also suggested the To-be design-phased VE process model. In addition, it suggested the To-be model of design management reflected the To-be design-phased VE process model, which is eliminated two problems reflected for the performance improvement of the As-is model of design management.

IMC Strategy of Sinhan Card for Building the Strong Brand Equity (신한카드 브랜드구축을 위한 IMC전략)

  • Ahn, Kwang Ho;Yoo, Chang Jo;Park, Woon Yong
    • Asia Marketing Journal
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    • v.13 no.3
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    • pp.249-264
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    • 2011
  • Brand is the major enduring asset of a company and more valuable than the totality of specific products and facilities. Thus brands are powerful assets that must be carefully developed and managed. The company should design and implement marketing activities and marketing communication programs to build and grow the brand value. Strarbucks, Samsung Galaxy, and Nike brands get a price premium and generate strong customer loyalty. A power brand has high brand equity, which is the differential effect that brand knowledge has on consumer response to the marketing of that brand. Brand equity is created when brands have strong, favorable and unique brand associations with customers and high level of brand awareness. Therefore marketers in building a strong brand should ensure to develop the right type of customer experiences with products and effective integrated marketing communication(IMC) programs to create the brand equity. Since 2007 Sinhan card acquiring the LG card has developed the new brand identity and carefully managed the advertising campaign and other marketing communication mix tools to create the high brand awareness and differential brand image. In this case study we examine how Sinhan card with the goal of being No.1 brand in the credit card market has developed and implemented the IMC Strategy to build a high level of consumer brand awareness, unique brand image and strong customer relationship.

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Customer Intangible Value in a Social Network (사회적 네트워크에서의 고객무형가치에 대한 연구)

  • Han, Sangman;Lee, Jieun
    • Asia Marketing Journal
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    • v.10 no.4
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    • pp.99-121
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    • 2009
  • Social networks can be a powerful force in marketing because they provide new ways to market to young generation. Though many studies on evaluation of customer lifetime value have been conducted, it is not clear how to assess the value of members within social networks. The purpose of this study is to evaluate members based on customer intangible value as well as customer lifetime value. Customer network value in terms of the power and influence within a network is analyzed through network structure analysis. Using Cyworld log file data, this study have shown that high percentage of members are very influential in terms of spreading or withholding information even though their CLV is low. It is expected that the findings of this research contribute to understand the interactive behaviors of members within networks and to provide valuable implications on new product launching and customer management strategies to marketers.

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Donghwa Pharmaceutical Longevity Company Strategy: Focusing on VRIO Framework (동화약품 장수기업 전략 : VRIO Framework중심으로)

  • Seonyoung Lee;Hyunjun Park
    • Journal of Korea Society of Industrial Information Systems
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    • v.29 no.2
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    • pp.133-151
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    • 2024
  • The purpose of this study is to analyze the core values of Donghwa Pharmaceutical, which has been in the pharmaceutical industry in South Korea for 126 years, and examine the core competencies that have consistently enabled it to maintain a competitive advantage. When applying the VRIO Framework, various general pharmaceuticals, including Donghwa Pharmaceutical's 'Hwalmyeongsoo,' which has maintained the top position in the liquid digestive medicine market for 126 years, are identified as powerful resources (Value) that generate 'sustained competitive advantage.' The principles of ethical management based on the Donghwa spirit, the long-standing principles of trust and belief, and the entrepreneurial spirit possess rarity. Having won four Guinness World Records and holding numerous new drug patents, Donghwa Pharmaceutical has consistently secured the top position in the digestive medicine category of the Korean Industrial Brand Power for 19 consecutive years. The company has been designated as a 'Golden Brand,' and its products have high levels of awareness, making them highly difficult to imitate. Lastly, the organization is structured to efficiently utilize resources such as a transparent hierarchical system, fair personnel management, diverse training programs, and high employee welfare and salaries. This study systematically analyzes the core values of Donghwa Pharmaceutical from a managerial perspective and proposes directions for the company to evolve into a long-lasting enterprise. The research outcomes will provide valuable insights for formulating long-term management strategies.

The Policy of Win-Win Growth between Large and Small Enterprises : A South Korean Model (한국형 동반성장 정책의 방향과 과제)

  • Lee, Jang-Woo
    • Korean small business review
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    • v.33 no.4
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    • pp.77-93
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    • 2011
  • Since 2000, the employment rate of small and medium enterprises (SMEs) has dwindled while the creation of new jobs and the emergence of healthy SMEs have been stagnant. The fundamental reason for these symptoms is that the economic structure is disadvantageous to SMEs. In particular, the greater gap between SMEs and large enterprises has resulted in polarization, and the resulting imbalance has become the largest obstacle to improving SMEs' competitiveness. For example, the total productivity has continued to drop, and the average productivity of SMEs is now merely 30% of that of large enterprises, and the average wage of SMEs' employees is only 53% of that of large enterprises. Along with polarization, rapid industrialization has also caused anti-enterprise consensus, the collapse of the middle class, hostility towards establishments, and other aftereffects. The general consensus is that unless these problems are solved, South Korea will not become an advanced country. Especially, South Korea is now facing issues that need urgent measures, such as the decline of its economic growth, the worsening distribution of profits, and the increased external volatility. Recognizing such negative trends, the MB administration proposed a win-win growth policy and recently introduced a new national value called "ecosystemic development." As the terms in such policy agenda are similar, however, the conceptual differences among such terms must first be fully understood. Therefore, in this study, the concepts of win-win growth policy and ecosystemic development, and the need for them, were surveyed, and their differences from and similarities with other policy concepts like win-win cooperation and symbiotic development were examined. Based on the results of the survey and examination, the study introduced a South Korean model of win-win growth, targeting the promotion of a sound balance between large enterprises and SMEs and an innovative ecosystem, and finally, proposing future policy tasks. Win-win growth is not an academic term but a policy term. Thus, it is less advisable to give a theoretical definition of it than to understand its concept based on its objective and method as a policy. The core of the MB administration's win-win growth policy is the creation of a partnership between key economic subjects such as large enterprises and SMEs based on each subject's differentiated capacity, and such economic subjects' joint promotion of growth opportunities. Its objective is to contribute to the establishment of an advanced capitalistic system by securing the sustainability of the South Korean economy. Such win-win growth policy includes three core concepts. The first concept, ecosystem, is that win-win growth should be understood from the viewpoint of an industrial ecosystem and should be pursued by overcoming the issues of specific enterprises. An enterprise is not an independent entity but a social entity, meaning it exists in relationship with the society (Drucker, 2011). The second concept, balance, points to the fact that an effort should be made to establish a systemic and social infrastructure for a healthy balance in the industry. The social system and infrastructure should be established in such a way as to create a balance between short- term needs and long-term sustainability, between freedom and responsibility, and between profitability and social obligations. Finally, the third concept is the behavioral change of economic entities. The win-win growth policy is not merely about simple transactional relationships or determining reasonable prices but more about the need for a behavior change on the part of economic entities, without which the objectives of the policy cannot be achieved. Various advanced countries have developed different win-win growth models based on their respective cultures and economic-development stages. Japan, whose culture is characterized by a relatively high level of group-centered trust, has developed a productivity improvement model based on such culture, whereas the U.S., which has a highly developed system of market capitalism, has developed a system that instigates or promotes market-oriented technological innovation. Unlike Japan or the U.S., Europe, a late starter, has not fully developed a trust-based culture or market capitalism and thus often uses a policy-led model based on which the government leads the improvement of productivity and promotes technological innovation. By modeling successful cases from these advanced countries, South Korea can establish its unique win-win growth system. For this, it needs to determine the method and tasks that suit its circumstances by examining the prerequisites for its success as well as the strengths and weaknesses of each advanced country. This paper proposes a South Korean model of win-win growth, whose objective is to upgrade the country's low-trust-level-based industrial structure, in which large enterprises and SMEs depend only on independent survival strategies, to a high-trust-level-based social ecosystem, in which large enterprises and SMEs develop a cooperative relationship as partners. Based on this objective, the model proposes the establishment of a sound balance of systems and infrastructure between large enterprises and SMEs, and to form a crenovative social ecosystem. The South Korean model of win-win growth consists of three axes: utilization of the South Koreans' potential, which creates community-oriented energy; fusion-style improvement of various control and self-regulated systems for establishing a high-trust-level-oriented social infrastructure; and behavioral change on the part of enterprises in terms of putting an end to their unfair business activities and promoting future-oriented cooperative relationships. This system will establish a dynamic industrial ecosystem that will generate creative energy and will thus contribute to the realization of a sustainable economy in the 21st century. The South Korean model of win-win growth should pursue community-based self-regulation, which promotes the power of efficiency and competition that is fundamentally being pursued by capitalism while at the same time seeking the value of society and community. Already existing in Korea's traditional roots, such objectives have become the bases of the Shinbaram culture, characterized by the South Koreans' spontaneity, creativity, and optimism. In the process of a community's gradual improvement of its rules and procedures, the trust among the community members increases, and the "social capital" that guarantees the successful control of shared resources can be established (Ostrom, 2010). This basic ideal can help reduce the gap between large enterprises and SMEs, alleviating the South Koreans' victim mentality in the face of competition and the open-door policy, and creating crenovative corporate competitiveness. The win-win growth policy emerged for the purpose of addressing the polarization and imbalance structure resulting from the evolution of 21st-century capitalism. It simultaneously pursues efficiency and fairness on one hand and economic and community values on the other, and aims to foster efficient interaction between the market and the government. This policy, however, is also evolving. The win-win growth policy can be considered an extension of the win-win cooperation that the past 'Participatory Government' promoted at the enterprise management level to the level of systems and culture. Also, the ecosystemic development agendum that has recently emerged is a further extension that has been presented as a national ideal of "a new development model that promotes the co-advancement of environmental conservation, growth, economic development, social integration, and national and individual development."