• Journal of the Korea Academia-Industrial cooperation Society
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• v.16 no.11
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• pp.7672-7676
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• 2015

This study examines the dynamic relations between housing price and trading volume in a set of apartment markets in Republic of Korea to explore the informational role of trading volume in predicting the price volatility. Using monthly index data, EGARCH model is utilized to test for volume effect. To estimate the EGARCH-based volatility, two different sets of region are applied for the monthly return. Strong evidence has been found towards housing turnover leading price volatility, this supports previous studies on financial sector(s). These findings also support that trading volume in the housing market contains information on investor sentiment which, in turn, has a valuation effect on the price.

• The Journal of Asian Finance, Economics and Business
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• v.2 no.3
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• pp.41-46
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• 2015

Energy saving in the transport sector in the framework of the annual growth of energy consumption, the degree of negative impact on the environment and the amount of harmful emissions are becoming increasingly important. The article considers the world tendencies of energy consumption in transportation sector and emphasizes its dependency from oil. Also article describes the dynamics of energy use and CO₂ emissions from transport of city Almaty. In conclusion authors identify a number of problems in the transport sector, which hinder the implementation of energy efficiency measures and measures to reduce CO₂ emissions.

• Journal of Information Technology Applications and Management
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• v.15 no.3
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• pp.227-242
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• 2008

The purpose of this study is to identify the critical factors for the successful implementation of e-business in the public sector. The paper reports on a case study of the 'Onbid' asset-management system developed by the Korean Asset Management Corporation (KAMCO). 'Onbid' system is an e-marketplace for trading in public assets, including the disposition by public sale of real estate. Through this case study, the paper: (i) explores the changes in organizational culture that are required for successful e-transformation in organizations of public sectors; and (ii) identifies the critical success factors for the implementation of e-business in the public sector.

• East Asian Economic Review
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• v.23 no.1
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• pp.27-53
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• 2019

I employ search-and-matching to a multi-country and multi-sector Ricardian model with input-output linkages, trade in intermediate goods, and sectoral heterogeneity, in order to quantify the welfare effects from tariff changes. The paper shows that labor market frictions can be a source of comparative advantage in the sense that better labor market conditions contribute to lower cost in production. Labor market frictions play a critical role in determining the probability of exporting goods to trading partners, and interact with bilateral trade share, price, expenditures, etc. Unemployment and changes in unemployment rates due to tariff reductions contribute welfare changes across countries, implying that welfare effects based on quantitative trade models with full-employment are likely to be biased. I confirm the biased welfare effects by revisiting Caliendo and Parro (2015), who conduct an analysis of the welfare effects from the NAFTA from 1993 to 2005. I show that the welfare gap between theirs and mine has a positive correlation with changes in observed unemployment rates across countries. With the constructed model, I further conduct counterfactual exercises by asking what would happen if China's tariffs remain unchanged from 2006 to 2015. It turns out that there are mild welfare effects to trading partners in the world trading system.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.9
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• pp.39-49
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• 2020

This study empirically examines herd behavior for fast moving consumer goods (FMCG) sector stocks under varied market return conditions and the period during the global financial crisis and its aftermath. We examine the sample of stocks trading on the Nifty FMCG Index of the Indian equity market from January 2008 up to December 2018 using the dispersion measure of cross sectional absolute deviation and examine its relationship with the market return to explore herd phenomenon. Quantile regression estimate is used and the results of the study validate rational asset pricing models as the sector does not display herding. In contrast, anti-herd behavior at lower and median quantile values is observed. A possible reason can be the non-cyclical nature of the industry where investors rely more on the fundamentals rather than crowd chasing. We also findthe absence of herd phenomenon during the market asymmetries of bull and bear phases, extreme movements, the period of the global financial crisis, and afterward. We further examine herding under the impact of the information technology (IT) industry and conclude that significant return movements in IT sector impact dispersions in the FMCG industry. Also, there is a co-varying risk between the two sectors confirming the spillover in an integrated market.

• Environmental and Resource Economics Review
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• v.25 no.3
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• pp.377-401
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• 2016

This study analyzes how much cost the power generation and energy sector in South Korea have to bear due to the introduction of emissions trading scheme during 2016 - 2017. To this end, the data on the seventh basic plan for long-term electricity supply and demand is applied to the electricity market simulation model called M-Core, and then the model forecasts carbon dioxide emissions to compare with the free emission allowances in the first national emissions permit allocation plan. The main results are as follows. Carbon dioxide emissions are estimated to be less in 2016 but more than the free emission allowances in 2017. When the price of the allowances is changed from \10,000/ton to \20,000/ton, the cost of purchasing the allowances is ranged from \70 billion to \140 billion. Under the assumption that CO2 cost is incorporated into the variable cost, a reversal of merit order between coal and LNG generation takes place when the price of the allowances exceeds \80,000/ton.

• Journal of Korea Trade
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• v.26 no.2
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• pp.45-64
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• 2022

Purpose - This paper examines South Korea's potential status as a carbon leakage country, and the level of risk posed by the Korean emissions trading scheme (ETS) for Korean industries. The economic effects of border carbon adjustments (BCAs) to protect energy-intensive Korean industries in the process of achieving the carbon reduction target by 2030 through the Korean ETS are also analyzed. Design/methodology - First, using the Korean Input-Output (IO) table, this paper calculates the balance of emissions embodied in trade (BEET) and the pollution terms of trade (PTT) to determine Korean industries' carbon leakage status. Analyses of the risk level posed by carbon reduction policy implementation in international trade are conducted for some sectors by applying the EU criteria. Second, using a computable general equilibrium (CGE) model, three BCA scenarios, exemption regulations (EXE), reimbursement (REB), and tariff reduction (TAR) to protect the energy-intensive industries under the Korean ETS are addressed. Compared to the baseline scenario of achieving carbon reduction targets by 2030, the effects of BCAs on welfare, carbon leakage, outputs, and trading are analyzed. Findings - As Korea's industrial structure has been transitioning from a carbon importing to a carbon leaking country. The results indicate that some industrial sectors could face the risk of losing international competitiveness due to the Korean ETS. South Korea's industries are basically exposed to risk of carbon leakage because most industries have a trade intensity higher than 30%. This could be interpreted as disproving vulnerability to carbon leakage. Although the petroleum and coal sector is not in carbon leakage, according to BEET and PTT, the Korean ETS exposes this sector to a high risk of carbon leakage. Non-metallic minerals and iron and steel sectors are also exposed to a high risk of carbon leakage due to the increased burden of carbon reduction costs embodied in the Korean ETS, despite relatively low levels of trade intensity. BCAs are demonstrated to have an influential role in protecting energy-intensive industries while achieving the carbon reduction target by 2030. The EXE scenario has the greatest impact on mitigation of welfare losses and carbon leakage, and the TAF scenario causes a disturbance in the international trade market because of the pricing adjustment system. In reality, the EXE scenario, which implies completely exempting energy-intensive industries, could be difficult to implement due to various practical constraints, such as equity and reduction targets and other industries; therefore, the REB scenario presents the most realistic approach and appears to have an effect that could compensate for the burden of economic activities and emissions regulations in these industries. Originality/value - This paper confirms the vulnerability of the Korean industrial the risk of carbon leakage, demonstrating that some industrial sectors could be exposed to losing international competitiveness by implementing carbon reduction policies such as the Korean ETS. The contribution of this paper is the identification of proposed approaches to protect Korean industries in the process of achieving the 2030 reduction target by analyzing the effects of BCA scenarios using a CGE model.

• Journal of Digital Convergence
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• v.15 no.4
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• pp.35-42
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• 2017

Information strategy planning(ISP) is an analysis of the organization's work, information flow, and current information systems, and planning information structures to achieve organizational strategies and objectives. In addition to the systematic promotion of the information sector in the public sector, the government is required to establish an information strategy plan in order to enhance the efficiency of the information sector. However, there are many cases in which the IT project budget is reflected without establishing the information strategy planning. The purpose of this study is to clarify the criteria for establishing the information strategy planning in order to enhance the effectiveness of the information strategy planning. For this purpose, we set up a judgment model for Information strategy planning through expert group review (FGI) and conducted questionnaires on public sector experts. In addition, we proposed a project to establish an information strategy planning and an exceptional project based on the size of iinformatization project and characteristics of informatization project.

• Journal of the Korean Society for Advanced Composite Structures
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• v.7 no.1
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• pp.45-52
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• 2016

There are only 10 projects of the domestic greenhouse gas(GHG) emissions trading scheme in building sector (i.e., 1.5% of 652 registered projects) because the certified methodologies to reduce GHG emissions can not be applied to building sector. This study presents remodeling techniques to reduce GHG emissions in existing buildings. First of all, preconditions and related regulations were reviewed. And then, a pool of factors for GHG reduction are selected and evaluated with respect to factors for reducing energy consumption. This study also investigates the criteria and the decision making process for remodeling techniques to reduce GHG emissions. Finally, the remodeling techniques using the decision making process were grouped based on redundancy of each effect. If reducing methodologies for GHG offset program can be developed using the analyzed remodeling techniques in this study, registered projects in building sector would be increase.

• Asia-Pacific Journal of Business
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• v.14 no.1
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• pp.381-396
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• 2023

Purpose - The purpose of this study was to analyze environmental and labor issues and related norms, which are new trade issues that are expanding in bilateral and multilateral trade agreements, and examine the possible impact of these norms on domestic fisheries policies. Design/methodology/approach - In this study, literature research was used as the main research methods. The comparative analysis of international norms and multilateral trade agreements texts related to the environment, labor and trade were conducted. Findings - The new trade norms in the fisheries sector can be represented by labor and environment issues. Since domestic environmental and labor standards do not fully meet the standards of the multilateral trade agreements, it is necessary to ensure that domestic norms are supplemented and relevant policies are newly established through a review of international law on environment and labor. Research implications or Originality - This study confirmed that international norms related to labor and environment in the fisheries sector are mixed with soft norms and binding norms, and each norm is linked in a multi-layered and mutual way. Such international norms are being strengthened in connection with trade agreements and issues.