• Asia Marketing Journal
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• v.13 no.4
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• pp.227-251
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• 2012

This study analyzed Woori Investment and Securities' industry-leading marketing from both a brand management and a marketing decision-making perspective. By executing a different marketing strategy from its competitors, Woori Investment and Securities recognized recent changes in the asset management and investment markets as an open opportunity, and quickly responded to the market changes. First, the company launched the octo brand as a multi-account product, two years before its competitors offered their own products. In particular, it created a differentiated brand image, using the blue octopus character, which became familiar to the general financial community, and was consistently employed as part of an integrated marketing communications strategy. Second, it executed a brand expansion strategy by sub-branding octo in a variety of new financial products, responding to rapid changes in the domestic financial and asset management markets. Through this strategic evolution, the octo brand became a successful wealth management brand and representative of Woori Investment & Securities. Third, it has converged market research, demand and trend analysis, and customer needs acquired through various customer contact channels into a marketing perspective. Thus, marketing has participated in the product development stage, a rarity in the finance industry. Woori Investment and Securities has a leading marketing system. The heart of the successful product creation lies in a collaboration of their customer bases among the finance companies in the Woori Financial Group. The present study suggested a corresponding strategy for octo brand, which is expected to enter into the maturity stage of its product life cycle. In addition, this study found a need to modify the current positioning strategy in order to position and preserve sustainability in the increasingly competitive asset management market. It also suggested the need for an offensive strategy to counter the number one M/S company, and address the issue of cannibalism in the Woori Financial Group.

• Korean Journal of Culture and Social Issue
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• v.18 no.4
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• pp.435-462
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• 2012

The predominant concern of the study centers on: (1) the direct effects of the job satisfaction, social support and hope on the individual's quality of life; (2) the direct effect of hope alone on the individual's quality life; (3) the mediating effect of the hope between the job satisfaction/social support and life quality; (4) the moderating effect of the worker's legal status(legal labors Vs. illegal labors) on each causal relationship. Research is based on a survey conducted with 453 Mongolian immigrant workers(333 legal workers, 120 illegal workers) from 10 cities including Seoul. In order for respondents to address research questions, structural equation models are explored. A variety of tests are conducted(metric invariance test, critical ratio for difference test, multi-group analysis, bias-corrected boot-strapping, latent mean analysis including Cohen's effect test). The noticeable findings are as follow: First, both job satisfaction and social support have a positive influence respectively on the individual's hope and the individual's quality of life. Second, we found a partial mediating effect of hope between both job satisfaction/social support and the individual's life quality. Third, we failed to find a moderating effect of the workers' legal status on each causal relationship. Finally, there is no significant difference of the latent means of each latent variable -job satisfaction, social support, hope, and life quality - between the legal group and the illegal group, except the latent mean of workers' quality of life. A range of practical and political implications are discussed based on the study's findings.

• Asia Marketing Journal
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• v.13 no.3
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• pp.25-53
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• 2011

This study probes the effect of loyalty program on the customer retention based on the real transaction data(n=2,892) acquired from education service industry. We try to figure out the outcomes of reward program through more than 1 year-long data gathered and analyzed according to quasi-experimental design(i.e., before and after design). We adopt this kinds of research scheme in regard that previous studies measured the effect of loyalty program by dividing the customers into two group(i.e., members vs. non-members) after the firms or stores had started the program. We believe that it might not avoid the self-selection bias. The research questions of this study could be explained such as: First, most research said that the loyalty programs could increase the customer loyalty and contribute to the sustainable growth of company. But there are little confirmation that this promotional tool could be justified in terms of financial perspective. Thus, we are interested in both the retention rate and financial outcomes caused by the introduction of loyalty programs. Second, reward programs target mainly current customer. Especially CRM(customer relationship management) said that it is more profitable for company to build positive relationship with current customer instead of pursuing new customer. And it claims that reward program is excellent means to achieve this goal. For this purpose, we check in this study whether there is a interaction effect between loyalty program and customer type in retaining customer. Third, it is said that dis-satisfied customers are more likely to leave the company than satisfied customers. While, Bolton, Kannan and Bramlett(2000) claimed that reward program could contribute to minimize the effect of negative service by building emotional link with customer, it is not empirically confirmed. This point of view explained that the loyalty programs might work as exit barrier to current customer. Thus, this study tries to identify whether there is a interaction effect between loyalty program and service experience in keeping customer. To achieve this purpose, this study adopt both Kaplan-Meier survival analysis and Cox proportional hazard model. The research outcomes show that the average retention period is 179 days before introducing loyalty program but it is increased to 227 days after reward is given to the customers. Since this difference is statistically significant, it could be said that H1 is supported. In addition, the contribution margin coming from increased transaction period is bigger than the cost for administering loyalty programs. To address other research questions, we probe the interaction effect between loyalty program and other factors(i.e., customer type and service experience) affecting it. The analysis of Cox proportional hazard model said that the current customer is more likely to engage in building relationship with company compared to new customer. In addition, retention rate of satisfied customer is significantly increased in relation to dis-satisfied customer. Interestingly, the transaction period of dis-satisfied customer is notably increased after introducing loyalty programs. Thus, it could be said that H2, H3, and H4 are also supported. In summary, we found that the loyalty programs have values as a promotional tool in forming positive relationship with customer and building exit barrier.

• Asia Marketing Journal
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• v.10 no.1
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• pp.25-64
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• 2008

Third-Party awards are growing in popularity. They are the hit product of the year chosen by The Korea Economic Daily, the best 10 products of the year chosen by Sports paper, the best hit product chosen by consulting firm and the best venture company of the year chosen by Information and Communication Ministry. Then these questions may be followed. Why industry likes this type of advertisement? Does this type of advertisement influences consumers' purchase intention? And if it does, how? Many researchers have been interested in external cue of product quality by focusing research effort on brand, price, producer, warranty etc. However, important but under-explored area is the role of third-party reference for signaling product quality. This paper comes from the idea that the third-party reference may signal consumers like manufacturer brand, product brand, product price, and shop brand. We develop a related theories to address research questions and drive some research hypotheses based on the previous studies probing source credibility, attribution, and signal theory. We put more emphasis on source credibility. We conducted the research based on 3x2x2x2 between group factorial design to explore causal relationship between the third party award winning advertising(real, fictional, no) and the purchase intention of consumers exposed to other information simultaneously such as product type(experience, search), distribution channel(direct, indirect) and perceived price(high, low). Since subjects are divided into 2 groups based on the means of response without extra experimental stimulus in case of perceived price. 12 different advertisements are used for conducting this study. The results are followings. First, the source credibility of the third party goes up, consumers' purchase intention would go up. It seems that consumers think the credibility of the third-party most when they are exposed to the third party award winning advertisement. Second, the product type does moderate the relationship between the third-party award winning advertisement and purchase intention. And the type of the distribution channel also moderates this relationship. The consumers' purchase intention goes up higher when they buy experience good and there is significant difference of purchase intention when consumers are exposed to direct channel treatment condition. But, perceived price has nothing to do with the third-party winning advertisement context for raising consumer intention to buy advertised product.

• Journal of the Korean Society of Marine Environment & Safety
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• v.29 no.7
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• pp.802-811
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• 2023

Marine spatial planning (MSP) is a crucial element for rational allocation and sustainable use of marine areas. Particularly, Fishing Activity Protected Areas constitute essential zones accounting for 45.6% designated for sustainable fishing activities. However, the current assessment of these zones does not adequately consider future demands and potential values, necessitating appropriate evaluation methods and predictive tools for long-term planning. In this study, we selected key fish species (Scomber japonicus, Trichiurus lepturus, Engraulis japonicus, and Larimichthys polyactis) within the Fishing Activity Protected Area to predict their distribution and compare it with the current designated zones for evaluating the ability of the prediction tool. Employing the Intergovernmental Panel on Climate Change (IPCC) 6th Assessment Report scenarios (SSP1-2.6 and SSP5-8.5), we used species distribution models (such as MaxEnt) to assess the movement and distribution changes of these species owing to future variations. The results indicated a 30-50% increase in the distribution area of S. japonicus, T. lepturus, and L. polyactis, whereas the distribution area of E. japonicus decreased by approximately 6-11%. Based on these results, a species richness map for the four key species was created. Within the marine spatial planning boundaries, the overlap between areas rated "high" in species richness and the Fishing Activity Protected Area was approximately 15%, increasing to 21% under the RCP 2.6 scenario and 34% under the RCP 8.5 scenario. These findings can serve as scientific evidence for future evaluations of use zones or changes in reserve areas. The current and predicted distributions of species owing to climate change can address the limitations of current use zone evaluations and contribute to the development of plans for sustainable and beneficial use of marine resources.

• Journal of Environmental Impact Assessment
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• v.32 no.6
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• pp.450-462
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• 2023

This study suggested methodology of Citizen Science as a tool of ecosystem conservation and management to achieve Wetland Protected Area (WPA) Conservation Plan and examined whose applicability in 3 WPAs (Jangrok of Gwangju metropolitan city, Madongho of Goseong in South Gyeongsang Province, and Incheongang estuary of Gochang in North Jeolla Province). It consists of a) figuring out main interests and stakeholder or beneficiaries of WPA and their information demand based on conservation, utilization, and management target in the WPA Conservation Plan, b) conducting research activities to gain outcome to address stakeholder's demand, and c) returning the research outcome to citizen scientists and making diffusion to the society. Based on the suggested method and process, citizen scientists conducted ecosystem monitoring (plants including Invasive Alien Plants, terrestrial insects, traces of mammals, discovering unknown wetland). As a result, citizen scientists contributed to collecting species information of 16 plans, 43 species of terrestrial insects, 5 mammals including Lutra lutra (Endangered Species I) and Prionailurus bengalensis (Endangered Species II). The authors constructed and provided distribution map of Invasive Alien Plants, which included information of location and density which citizen scientists registered, for Environment Agencies and local governments who manage 3 WPAs to aid data-based ecosystem policy, In further studies, not only accumulating research data and outcomes acquired from citizen science to suffice the policy demands but also deliberate reviewing policy applicability and social·economic ripple effect should be processed for the suggested Citizen Science in WPA to be settled down as a tool of ecosystem conservation and management.

• Journal of Korean Society of Forest Science
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• v.112 no.4
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• pp.561-573
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• 2023

National forests have an advantage over private forests in terms of higher investment in capital, technology, and labor, allowing for more intensive management. As such, national forests are expected to serve not only as a strategic reserve of forest resources to address the long-term demand for timber but also to stably perform various essential forest functions demanded by society. However, most forest stands in the current national forests belong to the fourth age class or above, indicating an imminent timber harvesting period amid an imbalanced age class structure. Therefore, if timber harvesting is not conducted based on systematic management planning, it will become difficult to ensure the continuity of the national forests' diverse functions. This study was conducted to determine the optimal volume of timber production in the national forests to improve the age-class structure while sustainably maintaining their economic and public functions. To achieve this, the study first identified areas within the national forests suitable for timber production. Subsequently, a forest management planning model was developed using multi-objective linear programming, taking into account both the national forests' economic role and their public benefits. The findings suggest that approximately 488,000 hectares within the national forests are suitable for timber production. By focusing on management of these areas, it is possible to not only improve the age-class distribution but also to sustainably uphold the forests' public benefits. Furthermore, the potential volume of timber production from the national forests for the next 100 years would be around 2 million m³ per year, constituting about 44% of the annual domestic timber supply.

• Journal of Venture Innovation
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• v.6 no.4
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• pp.63-81
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• 2023

The purpose of this study was to utilize the Photovoice qualitative research method targeting university students. Through this method, we aimed to understand the perceptions of environmental issues, environmental barriers, and eco-friendly behaviors among university students. By employing the Photovoice methodology, we sought to share the perspectives of university students on eco-friendly behaviors, explore the motivations and manifestations of these behaviors, and reflect on their significance. The ultimate goal was to provide practical suggestions for fostering eco-friendly behaviors through an in-depth examination of the visual narratives and reflections of university students. Under the overarching theme of the environment, participants were given the opportunity to individually select and explore three specific sub-themes: 'My Concept of the Environment,' 'Environmental Barriers in My Life,' and 'My Eco-friendly Behaviors.' Participants engaged in the process of capturing photographs from their daily lives related to each theme, expressing their thoughts and perspectives through the selected images. Subsequently, they shared and discussed their insights, actively listening to the opinions of others in the group. The results of this study revealed several key findings. Firstly, participants assigned meaning to the photographs they selected by directly capturing aspects related to the environment, such as 'waste,' 'discomfort,' 'fine dust=environmental pollution,' and 'indifference.' Secondly, participants attributed meaning to the selected photographs related to environmental barriers, associating them with concepts like 'invisibility,' 'apathy,' 'social stigma,' 'inefficiency,' and 'compulsion.' Lastly, participants ascribed significance to photographs selected in the context of eco-friendly behaviors, with themes like 'recycling,' 'energy conservation,' 'reuse,' and 'reducing the use of disposable items.' Based on these research findings, the confirmation of the V-A-B (Values-Attitudes-Behavior) model was established. It was observed that consumers structure a hierarchical relationship between their personal values, attitudes, and behaviors. The study also identified clear impediments in consumers' daily lives hindering the practice of eco-friendly behaviors. In light of this, the research highlighted the need for strategies to address the discomfort or inconvenience associated with implementing environmentally friendly consumer behaviors. The implications of the study suggest that interventions or solutions are necessary to alleviate barriers and promote a more seamless integration of eco-friendly practices into consumers' daily routines.

• Clean Technology
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• v.29 no.4
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• pp.288-296
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• 2023

Coal is abundantly available compared to other energy sources and is used as a versatile energy resource worldwide. To address the environmental issues stemming from conventional coal utilization, efforts are underway to develop clean coal utilization technologies, with IGCC technology being a notable example. In IGCC plants, coal is subjected to a CMD process where both drying and pulverization are achieved by supplying hot air. However, if the temperature of the supplied hot air is excessively high, it can lead to devolatilization and spontaneous combustion, thereby compromising the stable operation of the CMD process. This study aimed to measure the devolatilization and spontaneous combustion temperatures of different types of bituminous coal, and to explore their correlations with the characteristics of the coals. Six coal types exhibited devolatilization between 350 and 400 ℃, while three coal types showed devolatilization at temperatures exceeding 400 ℃. Spontaneous combustion ℃curred in one coal type below 100 ℃, six coal types between 100 and 150 ℃, and two coal types above 150 ℃. The measured initiation temperatures were compared with the coal characteristics including the oxygen, moisture, Fe₂O₃, and CaO content, the H/C ratio, and the O/C ratio to establish correlations. Regression analysis was used to calculate the regression coefficients and determination coefficients for each ignition temperature. It was found that 52.44% of the FC/VM data significantly influenced the volatile matter ignition temperature, and 59.10% of the Fe₂O₃ data significantly affected the spontaneous combustionignition temperature.

• Korea Trade Review
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• v.48 no.4
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• pp.303-320
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• 2023

Recently, import and export companies have been using T/T remittance and Surrender B/L more frequently than L/C when selecting the process and method of trade payment settlement. The new trade and logistics environment is thriving in the era of the Fourth Industrial Revolution (4IR). Document-based trade transactions are undergoing a digitalization as bills of lading or smart contracts are being developed. The purpose of this study is to verify whether exporters choose export payment types based on negotiating factors. In addition, we would like to discuss the application of the characteristics of the new trade and logistics environment. Data for analysis was collected through surveys. The collection method consisted of direct visits to the company, e-mail, fax, and online surveys. The survey distribution period is from February 1, 2023, to April 30, 2023. The questionnaire was distributed in 2,000 copies, and 447 copies were collected. The final 336 copies were used for analysis, excluding 111 copies that were deemed inappropriate for the purpose of this study. The results of the study are shown below. First, among the negotiating factors, the product differentiation of exporters did not significantly affect the selection of export payment types. Second, among the negotiating factors, the greater the purchasing advantage recognized by exporters, the higher the possibility of using the post-transfer method. In addition to analyzing the results, this study suggests that exporters should consider adopting new payment methods, such as blockchain technology-based bills of lading and trade finance platforms, to adapt to the characteristics of the evolving trade and logistics environment. Therefore, exporters should continue to show interest in initiatives aimed at digitizing trade documents as a response to the challenges posed by bills of lading. In future studies, it is necessary to address the lack of social awareness in Korea by conducting advanced research abroad.