• KDI Journal of Economic Policy
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• v.14 no.2
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• pp.29-54
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• 1992

Recent studies on the economic effects of trade liberalization and economic integration have emphasized the significant gains associated with product differentiation and scale economies. Securing access to markets in other countries will make it possible to increase product variety and capture scale economies, thus, expanding the gains from trade. Liberalization is also expected to introduce foreign competition into the previously closed market. Concurrently, the liberalization will improve the competitive market environment for firms selling in the domestic market. Firms will be pressed to either exit or reduce cost. The output per firm, then, will increase due to the exit of rival firms, and the average total cost will decline due to the economies of scale. 'Rationalization' of the production process will eventually follow. This paper addresses the economic effects of (counterfactual) bilateral tariff elimination between Korea and Japan. It computationally assesses the gains from liberalization as well as the resource allocations and welfare effects associated with the tariff reduction. The endogenous determination of the key parameters distinguishes this paper from others. The firm's perceived elasticity of demand and elasticity of substitution in the present model are calibrated to be consistent with the base year data. Korea, Japan, and the rest of the world are modeled explicitly. The sectoral coverage of the model includes twenty-three tradable product categories based on three-digit SITC industries and seven nontradable categories based on one-digit SITC industries. Product categories are also classified into perfectly competitive and imperfectly competitive ones. In the imperfectly competitive industries, product differentiation exists at the firm level, while the perfectly competitive industries are characterized by national product differentiation. The simulation results of bilateral tariff reduction are reported. Tariff elimination tends to increase intra-industry trade flows so that the total amount of exports and imports of both countries expand. Yet, Japan is expected to increase the bilateral trade surplus in the wake of the mutual tariff reduction. Terms-of-trade for Korea will not change, while for Japan it will deteriorate. Equivalent variations reflecting the change in consumer surplus (welfare) will favor Korean consumers. Total output, however, will not change substantially, recording 0.5 and 0.6% for Japan and Korea, respectively. An interesting finding in the analysis is that the gains from increased competition and scale efficiency are not as prevailing as expected in theory.

• Management & Information Systems Review
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• v.33 no.2
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• pp.301-315
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• 2014

The purpose of this study is to estimate the economic value of the Kumjung Mountain, using a Individual Travel Cost Model(ITCM). This paper compares Poisson and negative binomial count data models to measure the tourism demands. Interviewers were instructed to interview only individuals. So the sample was taken in 700. A dependent variable that is defined on the non-negative integers and subject to sampling truncation is the result of a truncated count data process. The results suggest that the truncated negative binomial model is improved overdispersion problem and more preferred than the other models in the study. This study emphasizes in particular 'travel cost' that is not only monetary cost but also including opportunity cost of 'travel time'. According to the truncated negative binomial model, estimates the Consumer Surplus(CS) values per trip of about 60,669 Korean won and the total economic value was estimated to be 252,383 Korean won.

• The Journal of the Institute of Internet, Broadcasting and Communication
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• v.20 no.2
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• pp.13-20
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• 2020

One of the major issues surrounding big data is the availability of massive time-based or telemetry data. Now, the appearance of low cost capture and storage devices has become possible to get very detailed time data to be used for further analysis. Thus, we can use these time data to get more knowledge about the underlying system or to predict future events with higher accuracy. In particular, it is very important to define custom tailored contract offers for many households and businesses having smart meter records and predict the future electricity usage to protect the electricity companies from power shortage or power surplus. It is required to identify a few groups with common electricity behavior to make it worth the creation of customized contract offers. This study suggests big data transformation as a side effect and clustering technique to understand the electricity usage pattern by using the open data related to smart meter and KNIME which is an open source platform for data analytics, providing a user-friendly graphical workbench for the entire analysis process. While the big data components are not open source, they are also available for a trial if required. After importing, cleaning and transforming the smart meter big data, it is possible to interpret each meter data in terms of electricity usage behavior through a dynamic time warping method.

• Journal of Energy Engineering
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• v.25 no.4
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• pp.141-151
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• 2016

Recently, technology for energy recovery from waste has been increasing interest globally including the Korea. In Korea, we have interested in using biogas generated from the sewage treatment process. As one alternative, there are operating biogas combined heat and power plant. The generation amount of the Sewage Sludge are expected to grow in the future. For this reason, total processing cost of Sewage Sludge will increase. To solve this problem, it seems will be invested with the expansion of facilities that use biogas as energy. Therefore, quantitative information on such facilities is required. Thus, this study attempts to economic feasibility analysis for Seonam Biogas Combined Heat and Power Plant. Meanwhile, as the benefit items for economic feasibility analysis consider electricity supply benefit except for heat supply benefit. The average prices of electricity use were residence 123.69, commercial 130.46, and industry 102.59 won per kWh for the year 2015, In addition, the economic benefit are calculated to be residence 310.21, commercial 378.49, and industry 222.87 won per kWh. The results of economic feasibility analysis is NPV 72.18 billion won, B/C 1.90, IRR 37%, shows that economic validity of Seonam Biogas Combined Heat and Power Plant.

• Journal of the Korean Geographical Society
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• v.29 no.3
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• pp.318-339
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• 1994

U.S. had given large amount of cotton to Korea as food aid program since 1945. This cotton aid had negative impact on cotton culture in Korean agriculture. Korean government used counterparts funds (sale proceeds of food aid) not for investment to agriculture sector, but for military budgets. And food aid on program type had influenced general economic policies, which neglected agricultural sector too. Anti-agricultural policy which was helped by U.S. food aid, had caused cotton cultivator an economic loss. So this economic loss had made many farmers abandon cotton culture. But in our times, cotton is cultivated for the purpose of domestic consumption in a few rural villages. The purposes of this study are 1) to analyze the process of spatial reduction of cotton culture since 1945 in regional contexts in Korea, and 2) to identify the function and meaning of cotton culture which does not pay off in agricultural region. Materials for acreage of cotton culture are acquired through the agricultural statistical year book(1952-1989) and census. To clarify the meanings of cotton culture, field survey are conducted in a rural village which is identified as only one where cotton was cultivated in 1993. In these contexts, this study has come to the following conclusions. In the period of under the rule of Japanese Imperialism (1910-1945), G. arboreum, species of cotton which was traditionally cultivated since 1364, had been driven out. And G. hirustun species, which is suitable for the production of highly qualified textile, has been hierarchically diffused by policy. In these period, regional structure of Korean agriculture was reorganized for the provision with food to Japan. Crops leading this dependent spatial structure were rice and cotton. So agricultural region, specialized with cotton, were distributed in the hinterland of the area which is specialized with rice. U.S. cotton aid to Korea began in 1947. U.S. took an interest in agricultural export because of her domestic surplus of cotton. Cotton aid is one mechanism by which U.S government developed agricultural market in recipient countries, Specially in the exchange rates, up-valuation of won to the U.S. dollars made domestic cotton more expensive than cotton imported, Production cost of domestic cotton is higher than Government's purchasing price of cotton which was also more expensive than price of cotton imported. Korean farmer could not help abandoning the cultivation of cotton, and this gave rise to spatial reduction of cotton culture. Spatially, cotton culture was abandoned in early stage of reduction in regions where stand at a disadvantage climatically, and in next stage in regions where other up-land crops which paid off in urban market, eg, fruits, could be cultivated. In the stage of extinction, cotton was cultivated only in area where G. hirustun species was originated in Korean peninsula. This region is not only suitable climatically for cotton culture, but is far away from urban market. Use of cotton produced is not for spinning, but for fillings of comforter. The main purpose of cotton culture in rural village is not for cotton yields, but for increase of production of seasame, which is grown together with cotton as mixed crops. Cotton product are used for domestic consumption and sold out to gin house. Though cotton culture is not paid off, farmer wanted to cultivate continuously for the cultural purpose, and they wanted the cotton culture promotion policy with the goverment subsidy.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.16 no.6
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• pp.131-144
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• 2021

The organizational ambidexterity is an organizational strategy designed to pursue exploration activities to seize new opportunities and exploitation activities to efficiently use resources. Most of these ambidextrous structures have been studied for large corporations with slack resources, and there are still not many studies on the necessity of an ambidextrous structure for startups with relatively low-level resources. However, recently, the startup ecosystem is being advanced globally, and the amount of VC investment is rapidly increasing. This is a time when a lot of venture fund is invested in startups and a startup-friendly environment for rapid growth is created. This is the time to discuss the necessity and applicability of an ambidextrous organizational structure for startups. Therefore, this study conducted a hypothesis test whether the importance and necessity of balance that startups solving market problems with new ideas and utilizing accumulated resources have. To conduct this study, we analyzed 140 startups data gathered from the survey and the moderation effect was also analyzed. As a result of the study, it was verified that the balance of startup exploration and exploitation had a significant effect on startup performance, and the moderating effect of environmental dynamics was found to have a significant effect on the relationship with non-financial performance. Therefore, for startups with insufficient resources, it was concluded that the surplus resources generated in the process of a firm's growth should be effectively utilized and the balance between exploration and exploitation should be balanced from the initial stage of searching for a new business. In other words, it was confirmed that it is important for continuous growth and survival to seek the structure of an ambidextrous organization in order to internalize a mechanism that enables startups to pursue both effectiveness and efficiency in the long term. This study suggests a strategic direction for the growth of startups from the perspective of organizational structure. We expect that this meaningful results on the relationship between the ambidextrous capabilities of startups and performance contribute to the growth of startups in the rapidly growing startup venture environment.

• The Journal of Fisheries Business Administration
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• v.34 no.2
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• pp.75-90
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• 2003

When we think of fundamental problems of the aquaculture industry, there are several strict conditions, and consequently the aquaculture industry is forced to change. Fish aquaculture has a structural supply surplus in production, aggravation of fishing grounds, stagnant low price due to recent recession, and drastic change of distribution circumstances. It is requested for us to initiate discussion on such issue as “how fish aquaculture establishes its status in the coastal fishery\ulcorner, will fish aquaculture grow in the future\ulcorner, and if so “how it will be restructured\ulcorner” The above issues can be observed in the mariculture of yellow tail, sea scallop and eel. But there have not been studied concerning seabream even though the production is over 30% of the total production of fish aquaculture in resent and it occupied an important status in the fish aquaculture. The objectives of this study is to forecast the future movement of sea bream aquaculture. The first goal of the study is to contribute to managerial and economic studies on the aquaculture industry. The second goal is to identify the factors influencing the competition between production areas and to identify the mechanisms involved. This study will examine the competitive power in individual producing area, its behavior, and its compulsory factors based on case study. Producing areas will be categorized according to following parameters : distance to market and availability of transportation, natural environment, the time of formation of producing areas (leaderㆍfollower), major production items, scale of business and producing areas, degree of organization in production and sales. As a factor in shaping the production area of sea bream aquaculture, natural conditions especially the water temperature is very important. Sea bream shows more active feeding and faster growth in areas located where the water temperature does not go below 13∼14$^{\circ}C$ during the winter. Also fish aquaculture is constrained by the transporting distance. Aquacultured yellowtail is a mass-produced and a mass-distributed item. It is sold a unit of cage and transported by ship. On the other hand, sea bream is sold in small amount in markets and transported by truck; so, the transportation cost is higher than yellow tail. Aquacultured sea bream has different product characteristics due to transport distance. We need to study live fish and fresh fish markets separately. Live fish was the original product form of aquacultured sea bream. Transportation of live fish has more constraints than the transportation of fresh fish. Death rate and distance are highly correlated. In addition, loading capacity of live fish is less than fresh fish. In the case of a 10 ton truck, live fish can only be loaded up to 1.5 tons. But, fresh fish which can be placed in a box can be loaded up to 5 to 6 tons. Because of this characteristics, live fish requires closer location to consumption area than fresh fish. In the consumption markets, the size of fresh fish is mainly 0.8 to 2kg.Live fish usually goes through auction, and quality is graded. Main purchaser comes from many small-sized restaurants, so a relatively small farmer and distributer can sell it. Aquacultured sea bream has been transacted as a fresh fish in GMS ,since 1993 when the price plummeted. Economies of scale works in case of fresh fish. The characteristics of fresh fish is as follows : As a large scale demander, General Merchandise Stores are the main purchasers of sea bream and the size of the fish is around 1.3kg. It mainly goes through negotiation. Aquacultured sea bream has been established as a representative food in General Merchandise Stores. GMS require stable and mass supply, consistent size, and low price. And Distribution of fresh fish is undertook by the large scale distributers, which can satisfy requirements of GMS. The market share in Tokyo Central Wholesale Market shows Mie Pref. is dominating in live fish. And Ehime Pref. is dominating in fresh fish. Ehime Pref. showed remarkable growth in 1990s. At present, the dealings of live fish is decreasing. However, the dealings of fresh fish is increasing in Tokyo Central Wholesale Market. The price of live fish is decreasing more than one of fresh fish. Even though Ehime Pref. has an ideal natural environment for sea bream aquaculture, its entry into sea bream aquaculture was late, because it was located at a further distance to consumers than the competing producing areas. However, Ehime Pref. became the number one producing areas through the sales of fresh fish in the 1990s. The production volume is almost 3 times the production volume of Mie Pref. which is the number two production area. More conversion from yellow tail aquaculture to sea bream aquaculture is taking place in Ehime Pref., because Kagosima Pref. has a better natural environment for yellow tail aquaculture. Transportation is worse than Mie Pref., but this region as a far-flung producing area makes up by increasing the business scale. Ehime Pref. increases the market share for fresh fish by creating demand from GMS. Ehime Pref. has developed market strategies such as a quick return at a small profit, a stable and mass supply and standardization in size. Ehime Pref. increases the market power by the capital of a large scale commission agent. Secondly Mie Pref. is close to markets and composed of small scale farmers. Mie Pref. switched to sea bream aquaculture early, because of the price decrease in aquacultured yellou tail and natural environmental problems. Mie Pref. had not changed until 1993 when the price of the sea bream plummeted. Because it had better natural environment and transportation. Mie Pref. has a suitable water temperature range required for sea bream aquaculture. However, the price of live sea bream continued to decline due to excessive production and economic recession. As a consequence, small scale farmers are faced with a market price below the average production cost in 1993. In such kind of situation, the small-sized and inefficient manager in Mie Pref. was obliged to withdraw from sea bream aquaculture. Kumamoto Pref. is located further from market sites and has an unsuitable nature environmental condition required for sea bream aquaculture. Although Kumamoto Pref. is trying to convert to the puffer fish aquaculture which requires different rearing techniques, aquaculture technique for puffer fish is not established yet.