• Korea Science and Art Forum
• /
• v.19
• /
• pp.735-745
• /
• 2015

This study is about the marketing mix of convention destination, aims to examine convention destination image and loyalty. In order to study the marketing mix more scientifically, this paper select those indexes which can promote the destination image but also can guide the access loyalty of exhibition participants. In addition, in order to understand the influence of marketing mix of convention destination which includes products, place, price, promotion, people, on destination image and loyalty, this research analyses the beneficial effect among variables. Based on previous research, the marketing mix of convention destination export products, place, price, promotion, people, convention image exports Cognitive images and Emotional images. The results show that, assuming that the beneficial effect of convention marketing mix on cognitive images was established partly, the beneficial effect of convention marketing mix on emotional images was established partly, the beneficial effect of marketing mix of convention destination on loyalty was established partly, the beneficial effect of cognitive images of convention destination on loyalty was established, he beneficial effect of emotional images of convention destination on loyalty was established. Based on the results of the study, a comprehensive strategic management on arketing mix of convention destination, played a profound impact on forming the image of the participants and enlivening the convention destination.

• International Area Studies Review
• /
• v.15 no.1
• /
• pp.3-30
• /
• 2011

When the European Union countries (EU27) are viewed as the composition between the old member countries (EU15) and the new member states (NMS12), the statistics exhibit that the EU15 is the largest trade partner of the NMS12. According to the Korea-EU FTA agreement, the existing patterns of trade among the EU15, the NMS12, and Korea may create not only the increase in trade opportunity between the NMS12 and Korea, but also the higher rivalry threat on export from the NMS12 to the EU15 destination due to the potential increase in export from Korea to the EU15 market. This research examines in both potential impacts at the 3-digit level of SITC Rev.3 industry, in the point of view of the NMS12. Various conventional trade indices are employed in the study. However, the existing trade index exhibits the limitation for measuring the different degree of rivalry threat on exports of two different exporters in the same export destination. Hence, this study develops a new trade index, the so-called Rivalry Threat Index (RTI), to measure the export competition between the NMS12 and Korea in the EU15 destination. The results indicate that from the point of view of the NMS12, the EU-Korea FTA agreement may cause Korea acts as a trade partner and as an export competitor simultaneously.

• Resources Recycling
• /
• v.32 no.6
• /
• pp.67-78
• /
• 2023

The rare metals used as raw materials in high-tech industries undergo changes in demand structures and supply chains following domestic industrial structural shifts and technological advancements, exhibiting high price volatility. Therefore, it is necessary to periodically analyze changes in the demand structures of rare metals. Since domestic demand for most rare metals relies on imports in Korea, the changes in domestic demand for rare metals can be identified by analyzing changes in their trade structure. In the present study, we analyze the changes in trade volume, trade growth rate, trade rankings, and trading countries from 2000 to 2022 for 35 rare metals, categorized into five types-ores, metals, alloys, compounds, and scrap. The trade of the raw materials of rare metals in Korea has generally increased since the 2000s, except for a significant decline in 2009 and 2016. The total trade volume, encompassing both exports and imports, has increased by approximately tenfold in 2022 compared to 2001. Until the mid-2010s, the trade of the raw materials of rare metals was primarily focused on those used in steel-manufacturing such as silicon, nickel, chrome, molybdenum, manganese, and others. However, after that period, there has been an increase in the trade of platinum group metals like palladium, rhodium, platinum, and the raw materials of rare metals for secondary battery-manufacturing such as lithium and cobalt. Particularly in 2022, lithium has become the largest share in trade of the raw materials of rare metals in Korea, due to the price surge and increase in demand.

• Journal of Korea Trade
• /
• v.27 no.5
• /
• pp.1-22
• /
• 2023

Purpose - Southeast Asia has been the focus of Korea's foreign investment. Korea has been helping developing countries in Southeast Asia achieve economic growth and win-win cooperation through capital exports. FDI is an important channel for technology diffusion. However, the impact of FDI on the bias of technological progress in the host country is dependent on the host country's own endowment structure and capital-labor factor substitution elasticity. Therefore, the central issue of this paper is to accurately evaluate the impact of Korea's FDI to the four Southeast Asian countries in various industries on their bias of technological progress. Design/methodology - The paper uses macroeconomic data for Korea and four East Asian countries to estimate capital-labor factor elasticities of substitution using nonlinear, seemingly uncorrelated regressions (NLSUR). Then, the biased technological change index (BTCI) is calculated for each country. Finally, panel data analysis is used to explore the impact of Korean FDI in various industries in the four Southeast Asian countries on their own directed technological progress, and a robustness test is conducted. Findings - There is a substitution relationship between capital and labor factors based on their elasticity in Korea, Singapore and the Philippines. There is a complementary relationship between capital and labor factors in Indonesia and Malaysia. According to the BTCI, there is a trend toward labor-biased technological progress in all countries. Korean investments in manufacturing, wholesale and retail trade in the host country trigger capital-biased technological change in the host country; investments in the finance, insurance and information and communication sectors trigger labor-biased technological change. In addition, this paper also confirms that directed technological progress can enable cross-country transmission. Originality/value - The innovation of this paper lies in three aspects. First, we estimate the BTCI for five countries and explore the trend and situation of directed technological progress in each country from each country's own perspective. Second, we explore the impact of Korean FDI in the host country on the bias to its technological progress at the industry level. Second, we explore the impact of Korean FDI in various industries in the four Southeast Asian countries on the four countries' own directed technological progress from a national perspective. Finally, we propose corresponding countermeasures for technological progress from the perspective of inverse factor endowment. These innovative points not only expand the understanding of technological progress and cross-country technology transfer in East Asia but also provide practical references for policy-makers and business operators.

• Convergence Security Journal
• /
• v.24 no.1
• /
• pp.83-93
• /
• 2024

As the paradigm of the global defense industry changes due to the Russia-Ukraine war, Korea's cutting-edge conventional weapons systems are attracting attention from around the world. In 2023, Korea ranked 9th in world arms exports, and is pursuing innovation in the defense industry with the goal of becoming the world's 4th largest defense exporter by 2027. The defense industry is a national strategic industry that requires a long period of time and a large budget, and defense technology is a core technology that has a great impact on the advancement of defense and the national economy. Over the past five years, Korea has suffered economic losses worth approximately 25 trillion won due to the outflow of cutting-edge technology overseas, and there is an urgent need for institutional improvement to prevent the outflow of defense technology. Therefore, this study presented Korea's defense industry development strategy by examining the laws and systems that the three key players in the Indo-Pacific region, the United States, China, and Japan, are promoting to protect defense industry technology. To foster the defense industry as a promising future industry in Korea, it is necessary to respond to the fast-evolving pace of development of advanced science and technology in connection with securing technological sovereignty and protect defense technology, which is a key technology of the country, by improving related laws and systems.

• Journal of Korean Home Economics Education Association
• /
• v.35 no.3
• /
• pp.169-190
• /
• 2023

Uzbekistan, one of the top five cotton-producing countries in the world, primarily focuses its textile and fashion industry on raw cotton exports and the sewing industry. For Uzbekistan to achieve high added value, it is essential for the textile and fashion industry, which is currently at the CMT(cut, make, and trim) stage, to upgrade to OEM (original equipment manufacturing), ODM (original design manufacturing), and OBM (original brand manufacturing). South Korea recognizes Uzbekistan as a potential manufacturing base and trading partner and has invested Official Development Assistance (ODA) funds for the development of Uzbekistan's textiles and apparel sector. This study aims to evaluate Uzbekistan's fashion higher education in the context of global competitiveness and measure the need and prospects for education ODA from the Korean government in this field. Comprehensive investigations, including surveys of academics, industry experts, and government officials, in-depth interviews, and focus group interviews, were conducted to understand Uzbekistan's current fashion education environment. According to the research results, despite the textile and fashion sectors playing a pivotal role in the Uzbek economy, there is room for improvement in the curricula and teaching and learning methods of the fashion higher education programs. This study holds significance as foundational data for establishing education ODA strategies.

• Korean small business review
• /
• v.32 no.2
• /
• pp.209-223
• /
• 2010

Korea's business is composed of a few large-sized enterprises (which can be abbreviated as LSE) and a majority of small-sized enterprises (SSE). Although there has been a growing recognition of the need for the development of medium-sized enterprises (MSE) which can serve as a link between SSE and LSE, as yet there has not yet been a consensus on the definition, characteristics and the function of the MSE in Korea. Nowadays, the world is being globalized, and Japan and China are in competition to ne a great economic power. While East Asia is experiencing rapid changes, promoting MSE which can secure flexibility and efficiency through covering up the limitation of LSE and SSE is needed in order to respond the global market which is being specialized. The features of MSE in Japan can be listed as follows. First, the MSE in Japan is developing the company through getting into niche markets which are hard for major companies to enter rather than developing markets in order to compete against major companies directly. While MSEs are endeavoring to build the business firmly in the domestic market, they can possess special and competitive technical skills through trials and errors; so that they can get a chance develop their business through independent business system rather than putting their effort to compete against major companies. Second, from the MSEs with competitive edge in the market, there are many contributions to the national exportation. Those MSEs produce in domestic and maintain the quality of high price products which need cutting-edge technology, while they relocate the low and middle priced goods to the country where manufacturing costs are low, so that they can maintain the price competitiveness. Third, the industrial structure in Japan is formed from dual structure between major companies and small sized companies. In other words, in Japan's industrial structure which are composed of subcontract structure, this dual structure has taken a major role of small sized companies' growth and manufacturing businesses' international competitive power. Forth, MSE in Japan adopt a strategy of putting their value on qualitative scale growth rather than quantitative scale growth. In this paper, the case of Japanese MSE is analyzed. Along with its long history of Industrialization, Japan has a corporate environment where the SSEs can develop as a MSE and later a LSE through a full-support system. Among its SSEs, there are a number of world class corporations equipped with a large domestic market, win-win cooperation with the LSEs and an independent technology development. It can also be observed that these SSEs develop into MSEs with sustainable growth potentials. This study will focus on the condition under which the MSEs of Japan have been developed, and how they have survived the competition between SSEs and LSEs. Through this study, this paper attempts to offer solutions to Korea's polarization between the SSE and LSE, while providing the basis for SSEs revitalization. In general, if both extremities phenomenon deepen between LSE and SSE, there are possible fears of occurring disutility in national economy by the monopolization of LSE. For that reason, enterprise group, which can make SSE or MSE compete LSE in some area and ease the monopoly and oligopoly problem, is needed. This awareness has been shared for ages long. Nevertheless, there is no legal definition for MSE in Japan, and there is no definition about the enterprise size or unified view of MSE between scholars, but it is defined differently by each of academical person or research institution and study meeting. For that reason, this paper will organize the definition of MSE in Japan, and then will propose the characteristics of the background which has made MSE secure competitiveness and sustainable growth in global market. This study focus on that because through this process, the positive change to the awareness of MSE can be proposed in Korea and to seek the policy direction for building institutional framework which can make SSE become MES. Through this way, the fundamentals for SSE to become MSE can be managed and some appropriate suggestions which will be able to make MSE enter the global market in the future can also be proposed. Due to these facts, this study is very important and well timed task. In a sense of this way, this study will examine the definition and role of MSE in Japan. after this examination, this study will deal with the status, special feature, and promotion policy for MSE. Through this analysis of MSE in Japan, the foundation which be able to set the desirable role model for MSE in Korea can be proposed. Also, the political implication which is needed to push ahead to contribute to creating employment and economic growth through sustainable growth of MSEs in economic system of Korea can be offered through this study. It has been found that Japan's MSE functions as an indispensable link among various industrial structures by holding a significant position in employment rate, production and value added. Although the MSEs took up less than 1% of the entire number of businesses with 2700 manufacturing firms and 7000 non-manufacturing firms, its employment ratios are about 15%, while taking about 25% of the manufacturing industry's exports. In industries such as machinery and electronics which is considered Japan's major industry, the MSEs showed a higher than average ratio of manufacturing exports and employment rate. It can be analyzed that behind Japan's advantageous industries, close and deeply knit MSEs exist. Although there are no clearly stated policies geared towards the MSEs by the Japanese government, various political measures exist such as the R&D Project and the inducement of cooperation between enterprises which gives room for MSEs to participate in the SSE policies. In relation to these findings, the following practical measures can be considered in order to revitalize Korea's MSEs: First, there is a need for a legal definition of MSE and the incentives to provide legal support for its growth. Second, if a law to support the MSEs is established, it could provide a powerful inducement for the SSE to grow as a MSE, rather than stay as a SSE. Third, there is a need for a strategy of MSEs to establish a stable base in the domestic market and then advance to the global market with the accumulated trial and error and competitiveness. Fourth, the SSE themselves need the spirit of entrepreneurship in order to make the leap to a MSE. Because if nothing is to be changed about the system on the firms that grew, and the parts of the past custom was left to be managed alone, confusion and absence of management can take place. No matter how much tax favors the government will give and no matter how much incentive there could be through the policies, there are limits for industries to higher the ability to propagate. And because of that it is a period where industries need their own innovative skills to reform their firms.

• Journal of Technology Innovation
• /
• v.14 no.1
• /
• pp.31-66
• /
• 2006

The country with a relative abundance of human capital conducts relatively more R&D in the steady state than its partner. This country acquires the know-how to produce a relatively wider range of innovative goods. High technology comprises a large share of the national economy in the human-capital rich country and real output growth is faster. This prediction would seem to accord weakly with empirical observation of Korean economy.

• The Journal of Fisheries Business Administration
• /
• v.15 no.1
• /
• pp.131-153
• /
• 1984

Fishery resources are still abundant compared with other resources and the possibility of exploitation is probably great. The Korean fishery industry has grown remarkably since 1957, and Korea is ranked as one of the major fishery countries. Its of fishery products reached the 9th in the world and the value of exports was 5th in 1982. But recently a growth rate has slowed down, due to the enlargement of territorial seas by the declaration of the 200 mile, Exclusive Economic Zone, the tendency to develop fishery resources strate-gically in international bargaining, the change in function of the international organizations, the expansion of regulated waters, the illegal arrest of our fishing boats, the rapid rise in oil prices, and the fall in fish prices, the development of fishery resources as a symbol of nationalism, the fishing boats decreptitude, the rise of crew wages, regulations on fishing methods, fish species, fishing season, size of fish, and mesh size, fishing quotas and the demand of excessive fishing royalties. Besides the the obligation of coastal countries, employing crews of their host countries is also an example of the change in the international environment which causes the aggravation of foreign profit of fishing firms. To ameliorate the situation, our Korean fishery firms must prepare efficient plans and study systematically to internationalize themselves because such existing methods as conventional fishing entry and licence fishing entry are likely to be unable to cope with international environmental change. Thus, after the systematic analysis of the problem, some new combined alternatives might be proposed. These are some of the new schemes to support this plan showing the orientation of our national policy: 1. Most of the coastal states, to cope with rapid international environmental change and to survive in the new era of ocean order, have rationalized their higher governmental structure concerning the fishery industries. And the coastal countries which are the objectives of our expecting entry, demand excessive economic and technical aid, limit the number of fishing boats’entry and the use of our foreign fishing bases, and regulate the membership of the international fishery commissions. Especially, most of the coastal or island countries are recently independent states, which are poorer in national budget, depend largely on fishing royalties and licence entry fees as their main resources of national finance. 2. Alternatives to our entry to deep sea fishing, as internationalization strategies, are by direct foreign investment method. About 30 firms have already invested approximately US $ 8 million in 9 coastal countries. Areas of investment comprise the southern part of the Atlantic Ocean, the Moroccan sea and five other sea areas. Trawling, tuna purse seining and five other fields are covered by the investment. Joint-venture is the most prominent method of this direct investment. If we consider the number of entry firms, the host countries, the number of seas available and the size of investment, this method of cooperation is perhaps insufficient so far. Our fishery firms suffer from a weakness in international competitive ability, an insufficiency of information, of short funds, incompetency in the market, the unfriendliness of host coastal countries, the incapability of partners in joint-ventures and the political instability of the host countries. To enlarge our foreign fishing grounds, we are to actively adopt the direct investment entry method and to diversity our collaboraboration with partner countries. Consequently, besides proper fishing, we might utilize forward integration strategies, including the processing fied. a. The enterprise emigration method is likely to be successful in Argentina. It includes the development of Argentinian fishing grounds which are still not exploited in spite of abundant resources. Besides, Arentina could also be developed as a base for the exploitation of the krill resources and for further entries into collaboration with other Latin American countries. b. The co-business contract fishing method works in American territorial seas where American fishermen sell their fishery products to our factory ships at sea. This method contributes greatly to obtaining more fishing quotas and in innovation bottom fishing operation. Therefore we may apply this method to other countres to diffuse our foreign fishing entry. c. The new fishing ground development method was begun in 1957 by tuna long-line experimental fishing in the Indian Ocean. It has five fields, trawling, skipjack pole fishing and shrimp trawling, and so on. Recently, Korean fisheries were successful in the development of the Antarctic Ocean krill and tuna purse seining. 3. The acceleration of the internationalization of deep sea fishing; a. Intense information exchange activities and commission participation are likely to be continues as our contributions to the international fishery organizations. We should try to enter international fishery commissions in which we are not so far participating. And we have to reform adequately to meet the changes of the function of the international commissions. With our partner countries, we ought to conclude bilateral fishery agreements, thus enlarging our collaboration. b. Our government should offer economic and technical aids to host countries to facilitate our firms’fishery entry and activities. c. To accelerate technical innovation, our fishery firms must invest greater amount in technical innovation, at the same time be more discriminatory in importing exogeneous fishery technologies. As for fishing methods; expanded use of multi-purpose fishing boats and introduction of automation should be encuraged to prevent seasonal fluctuations in fishery outputs. d. The government should increases financial and tax aid to Korean firms in order to elevate already weak financial structure of Korean fishery firms. e. Finally, the government ought to revise foreign exchange regulations being applied to deep sea fishery firms. Furthermore, dutes levied on foreign purchaed equipments and supplies used by our deep sea fishing boats thould be reduced or exempted. when the fish caught by Korean partner of joint-venture firms is sold at the home port, pusan, import duty should be exempted.

• KDI Journal of Economic Policy
• /
• v.14 no.1
• /
• pp.147-165
• /
• 1992

This paper analyzes the macroeconomic effects of elections on the Korean economy and their future ramifications. It measures the shocks to the Korean economy caused by elections by taking the average of sample forecast errors from four major elections held in the 1980s. The seven variables' Bayesian Vector Autoregression Model which includes the Monetary Base, Industrial Production, Consumption, Consumer Price, Exports, and Investment is based on the quarterly time series data starting from 1970 and is updated every quarter before forecasts are made for the next quarter. Because of this updating of coefficients, which reflects in part the rapid structural changes of the Korean economy, this study can capture the shock effect of elections, which is not possible when using election dummies with a fixed coefficient model. In past elections, especially the elections held in the 1980s, $M_2$ did not show any particular movement, but the currency and base money increased during the quarter of the election was held and the increment was partly recalled in the next quarter. The liquidity of interest rates as measured by corporate bond yields fell during the quarter the election and then rose in the following quarter, which is somewhat contrary to the general concern that interest rates will increase during election periods. Manufacturing employment fell in the quarter of the election because workers turned into campaigners. This decline in employment combined with voting holiday produce a sizeable decline in industrial production during the quarter in which elections are held, but production catches up in the next quarter and sometimes more than offsets the disruption caused during the election quarter. The major shocks to price occur in the previous quarter, reflecting the expectational effect and the relaxation of government price control before the election when we simulate the impulse responses of the VAR model, imposing the same shocks that was measured in the past elections for each election to be held in 1992 and assuming that the elections in 1992 will affect the economy in the same manner as in the 1980s elections, 1992 is expected to see a sizeable increase in monetary base due to election and prices increase pressure will be amplified substantially. On the other hand, the consumption increase due to election is expected to be relatively small and the production will not decrease. Despite increased liquidity, a large portion of liquidity in circulation being used as election funds will distort the flow of funds and aggravate the fund shortage causing investments in plant and equipment and construction activities to stagnate. These effects will be greatly amplified if elections for the head of local government are going to be held this year. If mayoral and gubernatorial elections are held after National Assembly elections, their effect on prices and investment will be approximately double what they normally will have been have only congressional and presidential elections been held. Even when mayoral and gubernatorial elections are held at the same time as congressional elections, the elections of local government heads are shown to add substantial effects to the economy for the year. The above results are based on the assumption that this year's elections will shock the economy in the same manner as in past elections. However, elections in consecutive quarters do not give the economy a chance to pause and recuperate from past elections. This year's elections may have greater effects on prices and production than shown in the model's simulations because campaigners' return to industry may be delayed. Therefore, we may not see a rapid recall of money after elections. In view of the surge in the monetary base and price escalation in the periods before and after elections, economic management in 1992 should place its first priority on controlling the monetary aggregate, in particular, stabilizing the growth of the monetary base.