• International Area Studies Review
• /
• v.15 no.2
• /
• pp.101-123
• /
• 2011

The paper is basically attempted to reveal the factor price equalization(FPE) on Korea, United States, and Japan by the ARDL-bounds testing. Wage-rental ratio and relative commodity prices between Korea, United States, and Japan are analyzed by employing equality and convergence frameworks. Empirical evidences are shown that necessary and sufficient conditions for the FPE seems to be easily satisfied in a small country such as Korea rather than large ones as like United States and Japan. And, the FPE is more easily achieved by a nominal term rather than the real term. Due to the fact that an error correction term in the Error Correction Model is insignificant, direct mobility of labor and capital between the countries is not that effective to a short run adjustment. It implies that the FPE is in general going through a long run path. It also has to be mentioned that a trade policy has to selectively implemented depending on the weight of trading volumes and it has to be build up by a long run basis.

• International conference on construction engineering and project management
• /
• 2022.06a
• /
• pp.712-720
• /
• 2022

The use of social media to disseminate news and interact with project stakeholders is increasing over time in the construction industry. Such social media data can be analyzed to get useful insights of the industry such as demands of new housing construction and satisfaction of construction workers. However, there has been a limited attempts to analyze social media data related to the construction industry. The objective of this study is to collect and analyze construction related tweets to understand the overall sentiments of individuals and organizations about the construction industry. The study collected 87,244 tweets from April 6, 2020, to April 13, 2020, which had hashtags relevant to the construction industry. The tweets were then analyzed to evaluate its sentiments polarity (positive or negative) and sentiment intensity or scores (-1 to +1). Descriptive statistics were produced for the tweets and the sentiment scores were visualized in a scatterplot to show the trend of the sentiment scores over time. The results shows that the overall sentiment score of all the tweets was slightly positive (0.0365). Negative tweets were retweeted and marked as favorite by more users on average than the positive ones. More specifically, the tweets with negative sentiments were retweeted by 2,802 users on average compared to the tweets with positive sentiments (247 average retweet count). This study can potentially be expanded in the future to produce a real time indicator of the construction market industry such as the increased availability of construction jobs, improved wage rates, and recession.

• Journal of Korean Society of Transportation
• /
• v.35 no.3
• /
• pp.169-182
• /
• 2017

This research reviews regulations on logistics/transport industry and attempts to quantify the effects of regulation mitigation on GDP per capita. South Korea's transport industry has been gradually expanding, however, the industrial structure is still short rooted. In 2014, average number of hours worked is 5th highest and wage margin 12th smallest out of 18 industries. Furthermore, the regulations for this industry appear to be stricter than those of other industries. OECD's logistics/transport industry regulatory index for South Korea has been decreasing for the last 40 years but still exceeds those of EU, Japan, US, and other countries. This paper provides supporting reasons for regulatory reforms by analyzing the ripple effects on real GDP. Factors such as the ratio of trade among GDP, the enrollment rate to primary school, energy usage per capita, and population are controlled in the fixed-effect model. Estimation results showed that 1 unit decrease in transport/logistics regulatory index is correlated with 8.1% increase of the real GDP per capita, that is, 10% of deregulation is expected to yield 2.16% increase in GDP per capita. Thus, it is expected that mitigating regulations on market entries, price determination, ownership structures of network industry, vertical integrations can improve the economy of South Korea.

• International Area Studies Review
• /
• v.14 no.3
• /
• pp.454-476
• /
• 2010

In this paper is two-step trade model introduced. It is assumed that countries have 3 basic factors- capital(K), land (Z)and population(N)-as national factor endowments. As the first step, education 'produces' 'educated labor(EL)' which embodies new knowledge or new technology by using the population and capital as inputs. As the second step, manufacturing goods is produced with EL and uneducated labor(UL), and agriculture goods with land and UL. According to this model, the higher the increase rate of capital in a country is, the lower the usage rate of land is, the lower the increase rate of discount is, the country tends to export the manufacturing goods and import the agriculture goods. Trade widens the discrepancy of increase rate of EL in both countries but reduces the gap of increase rate of relative wage of EL as far as the gap of usage rate is not so big. Trade also affect real income rather than nominal income. This model can be extended to explain the migration from rural areas to urban areas when the manufacturing sector and education organization exist in urban area while the agricultural sector exist in rural area.

• Journal of the Economic Geographical Society of Korea
• /
• v.20 no.3
• /
• pp.369-387
• /
• 2017

This research derived sum of light (SOL) for Liaoning and Dandong, China, from DMSP OLS satellite images acquired at nighttime during 1992 to 2012 and investigated its potential association with economic status. The SOLs of Liaoning were found to be continuously increasing and higher than those of averages for the other provinces across the time period. The temporal pattern of SOLs would be interpreted to well reflect the economic status of this region based on real growth rate and average wage per capita. Nevertheless, the SOLs of Dandong were lower than the average of the other prefecture-level cities, which indicated the economic status of this city in China. Meanwhile, the average annual growth rate of SOLs for Dandong turned out to be increase for 1998~2007, compared with the previous years, and temporal patterns in the trade amount between North Korea and China and the export amount of North Korea to China were similar to those of SOLs in the same time period. The political association between South and North Koreas was improved with 'Sunshine Policy' during 1997~2007. Taking it into account, SOL is expected to be valuable spatial proxy index that could explain the geopolitcal and geoeconomic aspects of Dandong.

• Journal of the Korean Society of Costume
• /
• v.41
• /
• pp.185-206
• /
• 1998

The purpose of this study was to improve productivity for maximum effects with the present equipments and staff. This study compared and analyzed the mea-sured time by using stop watch method and MTM, which was the new measuring method. The flow and results of this study were as follows: 1. This study investigated the theoretical background the efficiency for production management, and the way of productivity improvement through documentary research. 2. Setting up the standard flow on the experi-mental company production, making out a process chart and measuring the actual working hour. 3. The study measured the allowance time applying work sampling. 4. Each process of the movement analysis was filmed by video to use basic data. 5. MTM analysis was taken by choosing 10 processes from front bodice according to the basic movement of MTM. Through the results, this study exclude unneccesary movements and suggest a method for working ways. 6. Using the actual working hour measured by a stop watch calculated the pitch time and presumed the amount of daily productivity. 7. The result of the work sampling came out as 38% of allowance rate. It was 13% higher than the standard amount of woman's jacket allowance rate, which was 25%. The most influencing factor was work discussion. That was because there were commuication problem of the work way between the operator and leader. More adequate use of flow table and level passing table was needed. There were the problems that inappropriate places and sizes made the distance of movements longer and often needed more adjustment of works and surroundings. To prevent breakdowns equipments check ups were necessary before works. 8. The results of MTM analysis were as follow : the time was reduced 40% than the actual measured time by a stop watch. This was because the leveling of the operator was included in the real calculation. Also, leveling was included in MTM analysis and all the conditions were standarized. Therefore MTM method was a scientidic measuring way of establishing the standard time. The presented method of this study, suggested an ideal method eliminating unneccesary motions, and presented standardization of works. Improvement of working methods, work condition and simplifying motions in each 10 processes reduced the working time from total 656 seconds to 301 seconds. 9. The way and time of working was linked together in the MTM analysis methods. Thus data from MTM help suggest not only establishing standard time but also establishing stan-dard work. Plus it includes various ability for improvements of working ways. So it is an objective method which can be widely used in other work studies. 10. The function of a time study is to determine the amount of work produced with a given method. The work rate is used to establish the cost of labor. The wage of worker must be calculated per unit time which is deter-mined before the time study is made. This study tried to introduce the incentive rule for deciding wages according to the standard time by MTM method.

• Korean Journal of Construction Engineering and Management
• /
• v.14 no.4
• /
• pp.24-34
• /
• 2013

Since 2004, the government decided to gradually introduce Actual Cost Data into cost estimate for improving problems of below-cost tendering and to reflect fair market price through competition and carry contract efficiently. However, there are many concerns that Actual Cost Data has not reflected real market price, even that has contributed to reduce the government's budget. General construction firm's burden for labor cost is imputed to specialty contractors and eventually it becomes construction worker's burden. Therefore, realization of Actual Cost Data is very important factor to settle this system. To understand realization level and make short term forecast, this paper drew construction group of which labor cost constitutes more than 95% of direct cost, and compares their Actual Cost Data with relevant skilled workers's unit wage and predicts using time series analysis. The bid price which is not be reflected market price accelerates work environment changes and leads to directly affect such as late disbursement of wages, bankruptcy to workers. Therefore this paper is expected to be used to the preliminary data for solving the problem and establishing improvement of Actual Cost Data.

• KDI Journal of Economic Policy
• /
• v.13 no.1
• /
• pp.115-134
• /
• 1991

The role of pension plans in the macroeconomy has been a subject of much interest for some years. It has come to be recognized that pension plans may alter basic macroeconomic behavior patterns. The net effects on both savings and labor supply are thus matters for speculation. The aim of the present paper is to provide quantitative results which may be helpful in attaching orders of magnitude to some of the possible effects. We are not concerned with the providing empirical evidence relating to actual behavior, but rather with deriving the macroeconomic implications for a alternative possibilities. The pension plan interacts with the economy and the population in a number of ways. Demographic variables may thus affect both the economic burden of a national pension plan and the ability of the economy to sustain the burden. The tax transfer process associated with the pension plan may have implications for national patterns of saving and consumption. The existence of a pension plan may have implications also for the size of the labor force, inasmuch as labor force participation rates may be affected. Changes in technology and the associated changes in average productivity levels bear directly on the size of the national income, and hence on the pension contribution base. The vehicle for the analysis is a hypothetical but broadly realistic simulation model of an economic- demographic system into which is inserted a national pension plan. All income, expenditure, and related aggregates are in real terms. The economy is basically neoclassical; full employment is assumed, output is generated by a Cobb-Douglas production process, and factors receive their marginal products. The model was designed for use in computer simulation experiments. The simulation results suggest a number of general conclusions. These may be summarized as follows; - The introduction of a national pension plan (funded system) tends to increase the rate of economic growth until cost exceeds revenue. - A scheme with full wage indexing is more expensive than one in which pensions are merely price indexed. - The rate of technical progress is not a critical element in determining the economic burden of the pension scheme. - Raising the rate of benefits affects its economic burden, and raising the age of eligibility may decrease the burden substantially. - The level of fertility is an element in determining the long-run burden. A sustained low fertility rate increases the proportion of the aged in total population and increases the burden of the pension plan. High fertility has inverse effects.