• New & Renewable Energy
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• v.18 no.3
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• pp.32-42
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• 2022

Rapid spread of intermittent renewable energy has amplified the instability and uncertainty of power systems. The Korea Power Exchange (KPX) promoted efficient management by opening the power brokerage market in 2019. By combining small-scale intermittent renewable energy with a flexible facility through the power brokerage market, the KPX aims to develop a virtual power plant system that will allow the conversion of existing intermittent renewable energy into collective power plants. However, the participation rate of renewable power owners in the power brokerage market is relatively low because other markets such as the small solar power contract market or the Korea Electric Power Corporation power purchase agreement are more profitable. In this study, we used a choice experiment to determine the attributes affecting the participation rate in the power brokerage market for 113 renewable power owners and estimate the value of the power brokerage market. According to the estimation results, a low smart meter installation cost, low profit variations, long contract periods, and few clearances increased the probability of participation. Moreover, the average value of the power brokerage market was estimated to be 2.63 million KRW per power owner.

• Asia-Pacific Journal of Business
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• v.14 no.1
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• pp.439-451
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• 2023

Purpose - Market structure is crucial to identify as it defines the market states for new and existing container ports to perform within a given region. the study aims to compare the major ports in the Bay of Bengal in the context of Chittagong Port. Design/methodology/approach - For this study, the past 9 years of container volume data have been collected and analyzed through the HHI index, BCG matrix and shift effect analysis. Based on the analysis, this study has found that the Chittagong Port is in an oligopoly competitive market structure. Findings - The findings have shown that port in low market share and low growth in very recent years with the moderately concentrated ports HHI index. The shift effect analysis shows that the container volumes shifted from one port to another in the 2019 and 2020 periods. This study is the pioneer study in the Bay of Bengal region to identify the market structure, analyze market share and growth, and analyze the market concentration. Research implications or Originality - Future recommendations for the port authority is to take advantage of geolocation; attract international; tax exemption, faster clearance process, reduced waiting charges; increasing storage and technological machinery; promoting maritime logistics education; promoting Chittagong tourism; collaboration with other countries. Also, this study can be used as basic data for the establishment of a new supply chain between Korea and Southwest Asia for the Korean government and companies.

• Korea Trade Review
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• v.47 no.3
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• pp.141-156
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• 2022

This study intends to examine the regional blocs of the international crude oil futures market by analyzing the dynamic conditional correlation between the international crude oil futures markets using the DCC-GARCH model. For statistical data, from April 2, 2018 to March 31, 2022, international crude oil futures prices such as Europe, the United States, China, and Dubai were used. To summarize the results of the study, first, the phenomenon of regional blocs in the international crude oil futures market is occurring, and it is found that it is gradually strengthening as time goes by. Second, it was found that the dynamic correlation of the international crude oil futures market is temporarily strengthened when a supply-demand imbalance problem occurs due to a global shock. Third, it was found that the volatility of the Chinese crude oil futures market affects the international crude oil futures market. This study confirmed that the regional blocs phenomenon in the international crude oil futures market is strengthened as time goes by. In particular, it suggested that China's influence in the international oil market would increase.

• Korea Trade Review
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• v.47 no.2
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• pp.103-120
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• 2022

This paper studies the possibility of options as an instrument for central bank to intervene foreign exchange market. As opposed to spot transaction or forward transaction, which impacts spot exchange rate only once, currency options can continuously resist a directional speculative pressure on spot market due to the dynamic delta hedging of OTC currency options market maker. This research also analyzes whether and how central banks can use currency options to lower exchange rate volatility and maintain (implicit) target zones in foreign exchange markets. It argues that short position rather than long position in options will result in market makers dynamically hedging their long option exposure in a stabilizing manner, consistent with the first objective. Selling a "Strangle" allows a central bank to increase the credibility of its commitment to a target zone, and could have a lower expected cost than spot market interventions. However, this strategy also exposes the central bank to an unlimited loss potential. Therefore these kinds of intervention strategies must be used in the short run and temporarily.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.47 no.3
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• pp.18-30
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• 2024

Although concerns about overheating of the franchise industry's market structure continue to be raised, there are few studies that analyze the market structure of the franchise industry and suggest practical use. Most existing studies mainly analyze the market structure of other industries using industrial concentration(HHI) as an indicator of market competition intensity from the perspective of industrial organization theory. This study seeks to present a market structure analysis method that is different from existing methods. Considering practical application, this study presented a method to analyze the market structure that combines industry concentration(HHI) analysis and matrix analysis of the franchise industry. First, the industry concentration(HHI) and operating profit ratio(SMR) of 15 major industries in the franchise industry were analyzed in a time series manner (2014-2019). Second, using industrial concentration and operating profit ratio(SMR) as two variables on the x-axis and y-axis, a two-stage matrix analysis was used to understand the market structure characteristics of 15 industries at a glance. Third, a method of utilizing the matrix analysis results for practical decision-making was presented.

• International Commerce and Information Review
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• v.19 no.4
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• pp.127-145
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• 2017

The study focuses on the ICT industry, which is considered future growth engine. Tthe main objective of the research is to examine the extent of the competitiveness of the Chinese ICT industry, which is rapidly emerging as a competitor of the ICT industry in Korea. The ICT items subject to primary analysis of this study were computer and peripherals items. Analysis methods used were MSI (Market Share Index), EBI (Export Bias Index), and MCA (Market Comparative Advantage). The analysis period was from 2008 to 2016, and the analysis dater used were the export-import data provided by KITA. According to the study, Korean market share of Chinese computers and peripherals items has continued to increase, exports concentrated on the Korean market are intensifying, though the degree of competitiveness gained by the Korean market is quite strong. In particular, 852851, 847160 items have the largest competitiveness in the Korean market compared to other items used in this study. The implications of this study for the Korean market are as follows: i) improvement of quality with price ii) convergence product development between computer and peripherals items and consumer -friendly design development, and iii) marketing efforts to improve product awareness so that consumers recognize Korean computer and peripherals products.

• Industrial Engineering and Management Systems
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• v.16 no.1
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• pp.1-21
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• 2017

This paper discusses a reverse supply chain (RSC) which consists of the process flows from procurement of used products collected from a market, through remanufacturing products from the used products, to sales of the products in a market. In general, it is conceivable for the RSC to face the uncertainty in quality of used products collected from a market. Inspection is one of efficient methods to deal with the problem regarding quality of used products. However, there is a trade-off between inspection cost and inspection accuracy. This paper focuses on the following five types of inspection: (1) 100% inspection, (2) sampling inspection, (3) sampling inspection with screening of rejected lots, (4) sampling inspection with screening of acceptable lots, and (5) no inspection, and determines the optimal operation consisting of the optimal number of procured used products and the optimal inspection policy. Numerical analysis clarifies not only how changes of conditions of the RSC affect the manufacturer's optimal operation but also features of each inspection type. In addition, from the results of numerical analysis, this paper shows the usability to add the proposed inspection in this paper, the sampling inspection with screening of acceptable lots, to choices of inspection type.

• Journal of the Korean Society of Costume
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• v.50 no.8
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• pp.99-111
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• 2000

The purposes of this study were to segment the elderly women's apparel market according to their benefits sought and to develop the profiles of each segment. Questionnaire survey was done to 500 elderly women aged over 55 in Chonbuk province from Mar. 1. to Mar. 15, 2000, and 360 questionnaires were used. Frequencies, percentages, means, factor analysis, cluster analysis, $\chi$$^2$-test, and ANOVA were done with SPSS Win+. Duncan's Multiple Range test was followed. The factors of clothing benefits ere consisted of fashion, brand loyalty, economy, practicality, activity, and utility. The elderly women segmented into 4 groups of the reasonability pursuit, th economy & practicality, the benefit unconscious, and the fashion & brand pursuit. The fashion information sources were divided into mass communication-dominated source and point-of-purchase & consumer-dominated source. The factors of store patronage criteria were divided into product assortment, convenience, and additive service. The economy and practicality pursuit selected their clothing with the help of others, used any kind of information sources less, considered convience of the store more, shopped at traditional market, group size was the biggest, was the oldest, and educated less. The reasonability pursuit selected their clothing by themselves, used all kind of information sources, considered many facets of stores, shopped at department store, was younger, healthier, educated more, and lived with husband more. The benefit unconscious spent less money to their clothing, lower usage of information sources, selected their clothing with the help of others, considered all facets of stores less, shopped at moderate or volume zone apparel market or traditional market, was older, healthy, and involved the widowed more. The fashion and brand pursuit spent more money to clothing, considered the product assortment or additive service of store more, shopped at department store, and selected their clothing by themselves, group size was the smallest, was younger educated more, healthy, and showed a tendency of living with husband.

• Journal of Electrical Engineering and Technology
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• v.7 no.4
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• pp.468-479
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• 2012

In this paper, by a simple example it is shown that existing market-based criteria alone cannot completely and correctly evaluate the transmission network expansion from market view. However criteria congestion cost (CC) and social welfare (SW) together are able to correctly evaluate transmission network from market view and so they are adopted for the market-based transmission expansion planning. To simply indicate the limits of CC and SW social welfare percentage (SWP) and congestion cost percentage (CCP) are defined. To consider uncertainty in bids of market producers and consumers, and also indeterminacy in the acceptable boundaries of the SWP and CCP and their priorities, fuzzy assessment approach is used. In this approach, appropriate fuzzy sets and a fuzzy rule base are provided to evaluate the acceptability of an expansion plan. Then, the least-investment cost plan, which is acceptable in all probable scenarios, is searched. The proposed method is applied to an 8-bus system.

• Journal of Digital Convergence
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• v.4 no.2
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• pp.127-142
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• 2006

This paper uses a Mobilans case based on software system to derive the results of our study. Recently, the mobile phone payment entered its matured stage and became most frequently used payment method in all internet sites. And, in order to prepare for the future ubiquitous market, every mobile phone payment methods has different speed of development, market status and target segments in the market. This paper also discusses about the background and current status of Korean mobile phone payment market using SMS(Short Message Service) to purchase items on internet which is growing sharply every year. Also, we try find the key factors to succeed in this growing market. In addition to safety, delayed payment and the immediateness for use of mobile phone, we also suggest that a highly developed hardware system is an additional factor under the increased demands for the convenience with various applications.