• Journal of the Economic Geographical Society of Korea
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• v.6 no.1
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• pp.45-60
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• 2003

As the process of economic globalization deepens market uncertainty and severe competition, modern companies are tend to rely on non-market, socio-economic mechanisms such as trust, collaboration, and interdependence, They are being more influenced by cultural economic mechanisms like networks, embeddedness, and placeness rather than explicit cost-reductions. This paper analyzes the characteristics of industrial clusters, the formation of social capital, and the process of institutionalization by comparing two distinctive types of clusters, say Teheran and East-Gate Valleys in Seoul, Korea. The one is mainly consisted of IT industries with increasing vertical integration supported by venture capitals and favorable business infrastructures. The other cluster has long been a traditional CBD frame of Seoul and has transformed to the most dynamic and productive area, characterized by one-stop 'R&D-production-distribution-consumption-after sales services'. The study of the developmental trajectory and key characteristics for these kinds of clusters can give us insight for the cluster theory. This paper firstly reviews the similarities and differences between the social capital in general and that of industrial clusters. It then profiles the growth of the two clusters over the past decade, and compares the current spatial and business structure of the two clusters, focusing on transactions costs, the creation and flow of information, and the local institutions. The paper concludes with some comments about the prospects and perils of the two types industrial clusters of Seoul.

• Journal of the Economic Geographical Society of Korea
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• v.8 no.1
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• pp.1-16
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• 2005

Literature on cluster theory and cluster policy has been focused on the differences between mature industrial areas and innovative regions. Mature industrial areas are described as possessing little competence for innovation and lacking entrepreneurship to be transferred an innovative region, say, an innovative cluster. Old industrial regions are, however, rich in social capital, local networking, and regional institutionalization. This paper compares Buchon's mature industries with Daejon's bio-sector new start-ups in terms of innovative potential, socio-economic and cultural-economic mechanisms. Policy implications such as networking and business support systems on the differential types of industrial regions are offered.

• Journal of the Economic Geographical Society of Korea
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• v.4 no.2
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• pp.79-96
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• 2001

This paper introduces a new type of industrial cluster developed at the CBD of Seoul. Conventionally, clusters are said to be consisted of hi-tech, often If activities, manufacturing industries or artisan craft industries with increasing vertical integration and performance usually supported by venture capitals and favorable business infrastructure, not to mention governments', be it central or local, incentive plans. The study area, Cheonggyechon region has long been a traditional CBD frame of Seoul, Korea, being troubled by deterioration, traffic jams, and environmental degradation as most inner cities experience. Recently. this region has transformed to the most dynamic and productive area not by IT industries but by apparel and fashion activities. The study of the developmental trajectory and key characteristics for this kind of industrial cluster can give us insight both for the transition of inner city and for the cluster theory. This Paper firstly briefly Profiles the growth of the Cheonggyechon region over the past decade. It then shows the current spatial and business structure of the new industrial cluster, focusing on the fact that transactions costs are reduced, the creation and flow of information improves. and the local institutions are prone to be most responsive to the new cluster's specialized needs. The third section presents the key components of the customized production-distribution-shopping cluster development process, emphasizing the localized networking. social capital, spontaneous institutionalization of associational economic climate, and cultural economy based on place-specific inertia. The paper concludes with some comments about the prospects and perils of the new industrial cluster of Seoul.

• International Commerce and Information Review
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• v.14 no.3
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• pp.75-96
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• 2012

China will replace the global governance of the 21st century in 2050. The rise of China provide the Chinese development model to other developing countries. There are positive element and disability element in China's 'peaceful rise' strategy at the same time. Success of the reform and opening up, market liberalization, economic interdependency, economic globalization, stability of ruling power, consolidation of one-party rule and soft power increase are the promotions of peaceful rise. China's rise as a power nation begins by regaining the superpower status in East Asia. East Asia is a lebensraum assuring a continuing growth to China. For this lebensraum, China shows an interest in institutionalization of regional economic cooperation. The core values of ASEAN, namely the mutual respect, harmonious coexistence, co-prosperity, egalitarianism and pluralism are in conform to China's policy of harmonious world and peaceful coexistence. Through this common value the tension in East Asia will be alleviated. By the regional hegemony strategy based on soft power and economic success, China will try to regain the past glorious position. Attaining status as a coordinator of the world rule will be based on the success of the East Asian strategy. Korea and other neighboring countries will be the best beneficiary countries of the China's rise strategy. China's rising strategy will have a profound effect on neighboring countries especially, Korea. The scale of the movement of goods, labor, and capital between the two countries will become much larger than present. Through regional trade agreements, economic interdependency between Korea and China will increase.

• Korean Journal of Construction Engineering and Management
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• v.12 no.2
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• pp.89-100
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• 2011

As an impactive factor on industries and national economy, The Social Overhead Capital(SOC) is major factor to determine the national competitiveness and the investment of SOC is essential for its economic growth. Accordingly, introduction of the preliminary feasibility study and establishment of legal institutionalization and evaluation system has been carried out and reviewed since 1999. Nevertheless of these efforts, basic problems such as lack of scientific method for investment evaluation and loss of effectiveness on feasibility studies are continuously being brought up. Moreover, as the preliminary study to improve the mentioned problems is mainly focused on the economic and estimated demand analysis, the study of policy analysis, the most important phase during a feasibility study, is still insufficient. Therefore, in this paper, a quantitative decision-making model, to which the performance assessment method of Value Engineering(VE) is applied, is developed and proposed to improve the policy analysis of (preliminary) feasibility study that requires combining with relative studies, to induce quantitative analysis method, and to contribute the improvement of value on the political aspect for SOC investment goals and use as a strategic decision-making method by systematic analysis.