• Proceedings of the Korean Operations and Management Science Society Conference
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• 2003.11a
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• pp.7-10
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• 2003

After the launch of PCS in 1997, price competition between five mobile carriers was so severe that the Korean mobile telephony market achieved a remarkable subscriber base growth. But in that optimal pricing behavior depends on how each fm is likely to react to other frims'choice of price, it is very interesting to analyze competitive pricing behavior and understand market structure in terms of pricing competitiveness in the Korean mobile telecommunications market. In this paper, we use structural econometric models in New Empirical Industrial Organization (NEIO) framework. But previously used models in this framework generally assume that market size is fixed and that all firms maximize their profits. To fit in with the Korean mobile telephony market, we derive various models in using NML market share model under the assumptions that market size varies with industry's total attractions and that firms maximize their market share. In this paper, we find that the model under market share maximization with the assumption that market size varies with total attraction shows the best fitting results.

• Agribusiness and Information Management
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• v.3 no.2
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• pp.1-8
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• 2011

The main goal of this study is to show promising future food market of Northeast Asia countries, including China, Japan, and South Korea. Drinks market, including soft and alcoholic drinks is selected to show global food companies new opportunities for next strategic movements. Market Attractiveness Matrix is developed based on BCG matrix as a main framework for this study. CDI (Category Development Index) is also used. It is found that Asia-pacific has fast-growing markets and it has strong potential for future investment. Northeast Asia countries (China, Japan, and South Korea) turned out to be ones of the most attractive regional markets. However, European drinks market is saturated even though its size is still big. This study suggests that Northeast Asian market be considered a market for the next strategic movement and investment.

• Journal of Electrical Engineering and Technology
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• v.12 no.6
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• pp.2196-2207
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• 2017

This paper presents a two-stage market auction model in a pool-based electricity market, which explicitly takes into account the system network security. The security network-constrained market auction model considers the use of corrective control to yield economically efficient actions in the post-contingency state, while ensuring a certain security level. Under this framework, the proposed model shows not only for quantifying the correlation between secure system operation and efficient market operation, but also for providing transparent information on the pricing system security for market participants. The two-stage market auction procedure is formulated using Benders decomposition (BD). In the first stage, the market participants bid in the market for maximizing their profit, and the independent system operator (ISO) clears the market based on social welfare maximization. System network constraints incorporating post-contingency control actions are described in the second stage of the market auction procedure. The market solutions, along with the BD, yield nodal spot prices (NSPs) and nodal congestion prices (NCPs) as byproducts of the proposed two-stage market auction model. Two benchmark systems are used to test and demonstrate the effectiveness of the proposed model.

• Journal of Korea Technology Innovation Society
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• v.5 no.3
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• pp.277-292
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• 2002

This is a study on checklists for technology and market analysis. We show the general Checklist Pool for technology and market analysis to meet various kinds of the purpose and usage of evaluation. This checklist was extracted from the review of 28 checklists for evaluation of technology, market and firm, and now it is used in the Korea Valuation Association. Also, we checked some important points in the technology and market analysis.

• Journal of Information Technology Applications and Management
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• v.9 no.4
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• pp.65-78
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• 2002

We propose a new application method of the datamining technique that might help building an efficient trade strategy in the stock market, where the analysis of the huge database is essential. The proposed method utilizes the association rules among the price changes of individual stock from the market basket analysis (a datamining technique typically used in the Marketing field) in building the strategy We also apply the proposed method to the daily stock prices in Korean stock market, from Jan. 2000 to Dec. 2001. The application results show that the proposed method gives an significantly higher yield rate than the actual stock chage rate.

• The Journal of Fisheries Business Administration
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• v.29 no.2
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• pp.77-96
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• 1998

Fisheries products in Korea generally go through three markets, namely the wholesale market at production site (Market A), the wholesale market at consumption site (Market B), and the retail market (Market C), from producers to end consumers. As the products move from Market A through Market B to Market C, the marginal gap of prices asked in these markets demonstrates an apparent relationship. The producers, middlemen, consumers, and governmental departments concerned may influence the marketing prices of fisheries products. This study employing the cointegration theory tries to investigate whether causality of the price-setting among these markets exists and, if any, what it is. The authors have focused their attention on fisheries markets in Pusan, analyzing the long-run equilibrium relationship and causality between the prices of hairtail and squid among markets at different levels. Data used in this study cover the period f개m August 1984 to December 1997 fer hairtail, and the period from May 1989 to December 1997 for squid. The main findings of the study may be summarized as follows: First, regardless of the price time-series of hairtail and squid in individual market, the first difference is necessary fur satisfying the stationary conditions since each time-series is a first integration. This means homogeneous integration of time-series, which is a requirement of the long-run equilibrium of prices at different markets, is satisfied. Second, the study of the long-run equilibrium relationship between the prices at Market A and Market B shows that a long-run equilibrium relationship does exist for selling prices of the two species at Market A and Market B. Third, the ECM (error correction model ) used here to describe the long- and short-run dynamics of price change demonstrates that, in the case of squid, the price change in Market A will lead to a corresponding price change in Market B in the long-run period. In the short-run, however, the price at Market H is not only influenced by the price change in Market A but influence the price at Market A as well, that is, the Prices between Market A and Market B have a feedback effect. It should be stressed that the limitation in data collection, which cover only two species of hairtail and squid, is likely to cause a sampling bias. Nonetheless, we may conclude that a dynamic relation in the formation of prices does exist in view of the transaction amount of species at different markets. It is believed that the conclusion drawn from this study would not only contribute to a long-lasted debate on the direction of causality of price-setting among academic circle and fishing community, but would provide a useful standard for the policy makers in charge of the price-setting of fisheries products as well.

• Journal of the Korean Crystal Growth and Crystal Technology
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• v.14 no.4
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• pp.169-173
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• 2004

The analysis on the relations of appraising elements and market prices in ruby being used for jewelry was carried out by using the ruby prices from Palmieri's Market Monitor. As the result, it is understood that weight is the most influential, next is color, clarity is the least influential among these three main appraising elements, and the other relations between the appraising elements and market prices in ruby are also clarified.

• Journal of Distribution Science
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• v.13 no.8
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• pp.5-14
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• 2015

Purpose - This study undertakes to examine the automotive trade structure between Korea and Russia to accelerate economic cooperation and pinpoint trade discrepancies to increase trade volume through improved policies, eventually finding ways for trade expansion. Research design, data, and methodology - To analyze trade decision factors for both countries, the Index of trade specialization invented by trade specialization theory, is used. Although specific factors should materialize in the trade decision analysis, realistically, concrete explanations are difficult as many unsolved factors are involved as well as their complexities Results - First, to assess comparative market competitiveness, the Index describes A value/B value, representing the Korean versus the Russia market share and the Korean market share versus the world. Second, the index shows that Korea is taking comparative advantage of its export specialization. Third, the RCA indices show considerable improvement compared to 2000. Conclusions - This research used a quantitative approach to examine trade specialization and examined a comparative advantage index of market share to see how inter-trade relations have changed over the past 10 years.

• Journal of the Korean Data Analysis Society
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• v.20 no.6
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• pp.2771-2779
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• 2018

The recent financial crises cause the co-movement and transmit the risk across different markets and assets. It is well known that market fear affects the quality of credit in the financial markets. In this context, this study examines the co-movement between the volatility index (VIX) of the Chicago Board Options Exchange (CBOE), or VIX, and six emerging countries' credit default swaps (CDSs), by implementing wavelet coherence. Our research aims at revealing whether the VIX can be used to hedge against the bubble behavior of the CDS market in different investment holding periods (short-run, medium-run, and long-run), as well as whether either market can be used to manage and hedge overall market downside risks. The wavelet coherence results show a high degree of co-movement between the VIX and CDS during the 2007-2009 global financial crisis, across the 16-64 weeks' frequency band. In addition, we observe that the positive correlation between the VIX and the CDS markets, implying that the market turmoil intensifies the co-movement between the VIX and CDS markets.

• The Journal of Fisheries Business Administration
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• v.43 no.1
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• pp.35-48
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• 2012

Inverse demand models are well established as market demands in theory and practice of the existing literature. However, the derivation and its interpretation of individual demands from the market demands are not well known in the literature. This paper analyzes the fish market in Korea by the inverse demand model and shows how we deduce the consumer's responses from the market responses when the markets determine the prices by the quantities demanded. It illustrates empirically how this can be done applying to the korean fish market data. The empirical results show that all fishes are price inflexible and mackerels and hairtails are scale flexible in the market demand while mackerels, hairtails, and croakers are price elastic and mackerels and hairtails are income inelastic in the individual demand. The methodology and empirics used in the paper will make a contribution to the existing literature especially for the purpose of recovering consumer's demand from the market demand, thus implementing the policies to administer the fish markets.