• 농업과학연구
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• 제49권3호
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• pp.679-690
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• 2022

As the supply and demand of pork has become a significant concern in Korea, controlling it has become a critical challenge for the industry. However, compared to the demand for pork, which has relatively stable consumption, it is not easy to maintain a stable supply. As the preparation of measures for a supply-demand crisis response and supply control in the pig industry has emerged as an important task, it has become necessary to establish a stable supply model and create an appropriate manual. In this study, a pork supply prediction model is constructed using reported data from the pig traceability system. Based on the derived results, a method for determining the supply-demand crisis stage using a statistical approach was proposed. From the results of the analysis, working days, African swine fever, heat wave, and Covid-19 were shown to affect the number of pigs graded in the market. A test of the performance of the model showed that both in-sample error rate and out-sample error rate were between 0.3 - 7.6%, indicating a high level of predictive power. Applying the forecast, the distribution of the confidence interval of the predicted value was established, and the supply crisis stage was identified, evaluating supply-demand conditions.

• 사회경제평론
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• 제38호
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• pp.241-259
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• 2012

This paper reviews four different kinds of currency crisis models proposed to explain the Korean crisis of 1997 to examine which model is more relevant to explain the Korean crisis of 2008. According to the author's investigation, the 'Frenkel-Neftci' cycle is more relevant model to interpret the Korean crisis of 2008. In 2008, spreads opened due to, first, high interest rate policy by the Korean government aimed to suppress real estate price increase, and, second, the expectation about exchange rate appreciation, and thirdly stock market returns after recovering the crisis. Then the international capital market catastrophe due to the subprime crises produced the sudden change of expectation of the market participants. Huge capital outflows resulted from the credit crunch in the international capital markets, and the possibility of exchange rate depreciation by the Korean government to promote exports in the course of the global recession.

• 한국항만경제학회지
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• 제27권3호
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• pp.161-177
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• 2011

오늘날 글로벌 금융환경에서는 국가 간 자본이동이 확대되고 금융시스템의 밀접한 연계가 이루어진다. 따라서 어느 특정 국가의 금융위기는 지역 및 글로벌 금융위기로 전이될 소지가 매우 높다. 최근 미국발 글로벌 금융위기(global financial crisis)는 과거 1997~1998년 동아시아 금융위기 이후 동아시아 역내 국가들이 추진하였던 지역 금융협력 및 통합의 필요성을 각인시키는 계기가 되었다. 동아시아 지역 내 금융위기의 재발을 방지하기 위해 역내 국가들은 독자적인 유동성 공급을 위한 치앙마이합의(CMI)와 치앙마이합의 다자화(CMIM)를 실현하였다. CMI와 CMIM에 따른 역내국들 간 통화스왑협정(bilateral swap arrangement)의 확대는 역내 금융위기 발생 시 외화유동성 부족 해결, 지나친 외환보유고 축적에 따른 기회비용 제거, 그리고 견고한 금융협력을 통한 금융통합 추진 및 상호무역의 촉진에 목적이 있다. 동아시아는 특유의 생산네트워크 체제(production sharing system)구축으로 역내교역 비중이 대단히 높다. 금융 통합의 사전적 단계인 긴밀화된 금융협력이 지속적으로 확대되고 있는 상황에서 동아시아 국가들의 금융협력이 역내 수출입 물류에 어떠한 영향을 미치는지에 대해 임의효과모형 (random effect estimation)과 고정효과모형(fixed effect estimation)을 통해 분석하였다.

• 산업융합연구
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• 제14권2호
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• pp.33-38
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• 2016

The Korean shipbuilding industry, which started in the 1970s with the advance of three shipbuilding companies, has been ranked as the world's largest and most successful model of the heavy and heavy chemical industry in the world since the 1990s, and has become a driving force for Korea's economic growth for several decades, including job creation and trade surplus. The domestic shipbuilding industry has won a lot of orders in favorable market environment, expanded facilities and manpower, built many ships and delivered them to shipowners, earning a lot of foreign currency and creating a 'successful myth.' However, when the global economic crisis broke out in 2008, shipbuilding in Chosun was stagnant and shipbuilding orders sharply decreased.As the facility and manpower increased in the boom period, the economy and the facilities become overcrowded as a result of the crisis, signs of a crisis in 2013 begin to appear. In 2015, three major Korean shipbuilders lost more than 6 trillion won in operating losses. Now, Korea's shipbuilding industry is facing a crisis such as massive insolvency and restructuring. Would not it have been possible to prevent the loss and restructuring of a trillion won if we recognized the recession of the global economy and understood the appropriate timing of technological innovation and prepared countermeasures against the crisis? Therefore, we analyze trends and trends of global shipbuilding industry such as Europe, China, and Japan in the competition structure of the shipbuilding industry and identify the problems of our shipbuilding industry and suggest suggestions.

• Asia Marketing Journal
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• 제14권3호
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• pp.7-26
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• 2012

The success story of E-mart fascinated many academics and practitioners alike. Though E-mart began as a nameless discount store in Chang-dong, Seoul in 1993, it has transformed itself into a leading distribution company and one of the most powerful brands in Korea. Surprisingly, it achieved the great success against the two crises it met: the national economic crisis and the invasion of the global giant Walmart. The main objective of this case study is to formally examine how E-mart overcame the two crises. More specifically, this case study highlights the ways with which E-mart turned those difficulties into opportunities for growth. In our examination of the E-mart case, we could clearly see E-mart's competence and spirit that allowed it to turn crises into advantageous opportunities. E-mart attracted the customers who wanted value-oriented consumption by its positioning as the "Lowest price discount store", when consumer sentiment was frozen under the economic crisis. Furthermore, when a large-scale foreign discount store like Walmart entered the Korea market, E-mart built its core competencies as the 'Korean style discount store'. These ingenious positioning and efforts resulted in E-mart taking over their archrival, Walmart, and forced the global Goliath to exit the Korean market. The case of E-mart's effective crisis management teaches many important lessons and a few core lessons that apply to many companies. One such lesson is the importance of positioning which enabled E-mart to turn crises into opportunities. Granted, the strategy of positioning as the 'Korean style discount store', or 'Lowest price discount store' was possible due to overall support with cost reduction, development and management of their own system, an apprentice educate system, etc. based on an excellent selection of location of the store and efficient distribution systems. Still, the positioning strategy of E-mart was truly ground breaking in distancing itself from its competitors. The lessons from E-mart will help those companies currently in a stagnant situation or a crisis to turn their obstacles into great success.

• 품질경영학회지
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• 제52권2호
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• pp.287-301
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• 2024

Purpose: This paper aims to verify the difference in production resilience between local clusters and regions without clusters before and after a major crisis. Furthermore, this paper aims to identify the clusters' quality factors that impact clusters' shock vulnerability and resilience. Methods: Utilizing open-source data from the US Cluster Mapping platform, this paper compares regions with industrial clusters to those without using the Differences-in-Differences (DID) estimator. It considers the regions with industrial clusters as a treatment group and others as the control group, comparing the period before and after the pandemic. Additionally, the paper examines which cluster factors make a difference in economic resilience during the crisis using Regression Discontinuity Design (RDD). Results: The study finds that regions with industrial clusters show higher production resilience compared to regions without clusters. Moreover, the number of establishments, annual payrolls, and employment can have a positive impact on resilience during the pandemic shock. Conclusion: Though clusters could be vulnerable during the global crisis, industrial clusters can contribute to regional economic development and production resilience in the long-term aspect. Thus, it is required to construct a high-quality local cluster and support it during the economic crisis in the long-term aspect.

• 한국인구학
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• 제29권3호
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• pp.111-137
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• 2006

본 연구의 목적은 외환위기를 전후로 하여 각 출산순위별 출산 행위가 어떻게 변화하였고, 또 그러한 출산행위에 영향을 미치는 결정요인들이 어떻게 변화했는지를 분석하는데 있다. 이 연구의 기본 가정은 외환위기의 사회경제적 변동은 결혼 및 출산과 같은 개인적인 행위와 가치관에 영향을 미치기 때문에 외환위기 이전과 이후에 개인은 다른 방식으로 출산 행위를 행할 것이고 그러한 행위에 영향을 미치는 결정요인들 또한 외환위기 이전과 이후에 다를 수 있다는 것이다. 이러한 기본 가정은 본 연구의 분석에서 입증되었다. 외환위기를 전후로 하여 우리나라의 출산행위는 변하였다. 외환위기 이후에 결혼한 여성은 그 이전에 결혼한 여성에 비해 첫째아 출산을 덜 하려는 경향이 있다. 하지만 둘째아와 셋째아 출산에서는 첫째아 출산과 달리, 외환 위기 이후에 이전 아이를 출산한 여성이 그 이전에 출산한 여성보다 둘째아(혹은 셋째아)를 더 빠른 기간에 출산하려는 경향을 보인다. 즉 출산의 사각화 현상이 나타난다. 이러한 경향은 다변량 분석에서도 나타난다. 둘째아와 셋째아 출산에서 이른 나이에 혼인한 여성이 만혼의 여성보다 더 빨리 출산을 하는 경향이 발견되었다. 출산행위에 유의미한 영향을 미치는 요인들도 외환위기를 전후로 하여 변하였다. 특히 흥미로운 것은, 외환위기 이후 첫출산에서 남편 안정 직업이 긍정적인 영향을 여성의 안정 직업은 부정적인 영향을 미쳤지만 남편의 긍정적 영향이 부인의 부정적 영향보다 크다는 것이다. 이러한 발견은 최근 우리나라에서 출산율을 향상시키기 위한 여성 취업 우호적인 출산장려정책의 한계점을 지적하는 것이라 할 수 있다.는 주택문제의 해결과 아울러 소득 및 재산과 관련하여 사람들이 느끼는 상대적인 박탈감의 해소가 주요한 과제이다. COX 활성에 대한 $IC_{50}$ 값은 $5.1\;{\times}\;10^{-4}\;M$이었고, 정제 COX에 대한 $IC_{50}$ 값은 $2.3\;{\times}\;10^{-4}\;M$이었으며, 백혈구 collagenase 활성에 대한 $IC_{50}$ 값은 $2\;{\times}\;10^{-3}\;M$이었고 정제 collagenase에 대한 $IC_{50}$ 값은 $5\;{\times}\;10^{-2}\;M$이었다. 백혈구 elastase의 경우 $5\;{\times}\;10^{-2}\;M$ 첨가 시 66%의 활성이 저해된 반면 정제 elastase의 경우 $5\;{\times}\;10^{-2}\;M$ 첨가 시 25%의 효소 활성이 저해되었다. 또한 백혈구 elastase 활성에 대한 $IC_{50}$ 값은 $7.5\;{\times}\;10^{-3}\;M$이었다. 인체 치은세포에 대한 독성 시험 결과 $5\;{\times}\;10^{-2}\;M$의 HPS 첨가시 세포의 활성은 배양 2일째 47.83%로 나타났으며, $1\;{\times}\;10^{-2}\;M$의 HPS 첨가시에도 68.53%로 나타나 비교적 세포독성이 강한 것으로 나타났다

• East Asian Economic Review
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• 제26권2호
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• pp.171-176
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• 2022

• East Asian Economic Review
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• 제23권4호
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• pp.353-379
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• 2019

This paper aims to determine factors causing the stagnation of Korean firms' fixed investment after the global financial crisis, using panel data for the period of 1999-2016. Fixed investment remained sensitive to cash flow and Tobin's q although their effects decreased after the global financial crisis. A decreasing trend of cash flow and an increase in Tobin's q since the early 2000's imply that the worsening cash flow was a major factor behind the sluggish investment after the crisis. Meanwhile, debt-equity ratio remained significant for non-chaebol affiliated firms, reflecting disparity in access to external financing. Volatility of stock returns also became insignificant after the crisis, casting doubt on the argument that uncertainty was a major factor contributing to the decline of fixed investment. Analysis of financial investment confirmed the significant effect of cash flow, larger than that on financial investment than on fixed investment. In particular, debt repayment and other financial investment, except share repurchase, were sensitive to cash flow. However, the substitution of fixed investment by financial investment is a consequence, rather than a cause of declining fixed investment.

• East Asian Economic Review
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• 제21권4호
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• pp.317-342
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• 2017

The US dollar has kept as a position of key currency in the global economy in the changing international monetary system where the euro was introduced to some states of the EU in 1999. It is an evidence of inertia of the US dollar as a key currency. Our previous study (Ogawa and Muto, 2017b) conducted empirical analysis to investigate effects of several events on inertia of the US dollar. One of our findings was that the introduction of the euro increased utility of euro while utility of US dollar was kept unchanged. This paper examines the effects of the global financial crisis and the euro zone crisis as well as the introduction of the euro on the utility of the Japanese yen. The introduction of the euro significantly decreased the utility of the Japanese yen. It indicates that the introduction of the euro increased the utility of the euro while reducing the utility of the Japanese yen rather than the utility of the US dollar. The utility of the Japanese yen has significantly decreased while the global financial crisis and the euro zone crisis occurred. The Japanese yen has a declining trend in terms of its utility over time in the changing international monetary system.