• Journal of Korean Society of Industrial and Systems Engineering
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• v.43 no.4
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• pp.59-66
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• 2020

In this study, we consider the problem of forecasting the number of inbound foreigners visiting Korea. Forecasting tourism demand is an essential decision to plan related facilities and staffs, thus many studies have been carried out, mainly focusing on the number of inbound or outbound tourists. In order to forecast tourism demand, we use a seasonal ARIMA (SARIMA) model, as well as a SARIMAX model which additionally comprises an exogenous variable affecting the dependent variable, i.e., tourism demand. For constructing the forecasting model, we use a search procedure that can be used to determine the values of the orders of the SARIMA and SARIMAX. For the exogenous variable, we introduce factors that could cause the tourism demand reduction, such as the 9/11 attack, the SARS and MERS epidemic, and the deployment of THAAD. In this study, we propose a procedure, called Measuring Impact on Demand (MID), where the impact of each factor on tourism demand is measured and the value of the exogenous variable corresponding to the factor is determined based on the measurement. To show the performance of the proposed forecasting method, an empirical analysis was conducted where the monthly number of foreign visitors in 2019 were forecasted. It was shown that the proposed method can find more accurate forecasts than other benchmarks in terms of the mean absolute percentage error (MAPE).

• Economic and Environmental Geology
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• v.41 no.5
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• pp.509-516
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• 2008

For analyzing resources demand appropriately, corresponding demand data is essential. But it is hard to get the suitable data of each resource demand, because every resources has various type as refined and many kind of alloyed. That reason makes many analyses to employ the data of refined metals as the representative quantity. But those refined metals are factors for producing final goods so those in domestic market are not always meant for producing domestic end goods. Thus in this paper, the domestic demands of refined copper, lead and zinc are analyzed empirically with 'intensity of use' and foreign countries' income variable applied model for recovering the data availability.

• East Asian Economic Review
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• v.25 no.3
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• pp.310-336
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• 2021

We use iterative numerical procedures combined with analytical methods due to Rapach and Wohar (2009) to solve for the dynamic asset allocation strategy for optimal portfolio demand. We compare different optimal portfolio demands when investors in each country have different access to overseas and domestic investment opportunities. The optimal dynamic asset allocation strategy without foreign investment opportunities leads domestic investors in Korea, Hong Kong, and Singapore to allocate more funds to domestic bonds than to domestic stocks. However, the U.S. investors allocate more wealth to domestic stocks than to domestic bonds. Investors in all countries short bills at a low level of risk aversion. Next, we investigate dynamic asset allocation strategy when domestic investors in Korea have access to foreign markets. The optimal portfolio demand leads investors in Korea to allocate most resources to domestic bonds and foreign stocks. On the other hand, the portfolio weights on foreign bonds and domestic stocks are relatively low. We also analyze dynamic asset allocation strategy for the investors in the U.S., Hong Kong, and Singapore when they have access to the Korean markets as overseas investment opportunities. Compared to the results when the investors only have access to domestic markets, the investors in the U.S. and Singapore increase the portfolio weights on domestic stocks in spite of the overseas investment opportunities in the Korean markets. The investors in the U.S., Hong Kong, and Singapore short domestic bills to invest more than initial funds in risky assets with a varying degree of relative risk aversion coefficients without exception.

• The Journal of Asian Finance, Economics and Business
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• v.4 no.1
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• pp.51-58
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• 2017

The aim of the study is to assess the asymmetry of influence of factors of economic growth of national economies, which are included in the integration. Unlike previous research, the scientific significance of the obtained results consists in the use of a new method of study - external demand as a factor of economic growth, disaggregated into two components. The first is net exports mutual trade in goods within integration associations. The second is net exports of foreign trade in goods outside the integration. By use of these methods we have evaluated the contribution of these factors on economic growth of the Customs Union and the Common Economic Space (CU/CES), as well as Kazakhstan, Russia and Belarus. In the conducted analysis of scientific research was based on the fact that the economies of the member (CU/CES) are very different in scale, economic potential and volume of foreign trade. Based on this research we conclude: integration is developing successfully and efficiently only with the rise of the national economies of the member countries; to enhance economic growth and competitiveness of the countries of the Eurasian integration it is necessary to increase the volume of mutual trade of member countries of this integration.

• Journal of Smart Tourism
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• v.2 no.3
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• pp.31-38
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• 2022

Understanding demand for travel websites can help hoteliers better evaluate their own multi-channel distribution and reputation management strategies. In this study, we estimated demand for eight major travel websites based on the user percentage in 3,120 U.S. counties. Results highlighted the importance of four types of factors: sociodemographic, economic, Internet use-related, and travel-related. Differences between websites were also compared based on estimated coefficients. For example, the demand for Expedia.com appeared to be driven by age, education background, income, and foreign travel history, whereas the demand for Hotels.com was driven by the proportion of the African American population and domestic travel history. Lastly, implications are provided.

• Korea Trade Review
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• v.45 no.2
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• pp.51-65
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• 2020

According to an analysis of 560 foreign-invested companies investing in South Korea's manufacturing industry, the following three facts were found. First, the proportion of sales by manufacturing foreign-invested companies is divided into 68.5 percent of domestic sales and 31.5 percent of exports. From 68.5 percent of domestic sales, sales to Korean companies are 60.5 percent, including 37.1 percent for large companies and 23.4 percent for small and medium-sized companies, while only 8.0 percent for domestic consumers. Second, the investment sectors of manufacturing foreign-invested enterprises are 'machine and equipment manufacturing', 'chemical and chemical-chemical material manufacturing-excluding pharmaceuticals', 'electronic components, computers, video, sound and communication equipment manufacturing' and 'vehicle and trailer manufacturing'. It overlaps with electric·electronics, petro-chemicals and automobiles, which are Korea's main industries and areas of Korean global companies. Third, 31.5 percent of the sales of foreign-invested companies in the manufacturing sector are exported. Foreign-invested companies export their products to use them for their parents or affiliates or to the third countries. The analysis shows that foreign-invested companies invested in Korea for B2B transactions with Korean companies. The implications are that Korea can attract foreign investments by utilizing Korean companies' demand for intermediate goods. Foreign-invested companies can invest in Korea in order to use Korea, which has signed free trade agreements with the US, the EU and ASEAN, as an export platform.

• East Asian Economic Review
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• v.19 no.4
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• pp.381-408
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• 2015

This paper investigates a link between the significant decline in the growth of domestic demand and the dampened ripple effects from the export sector in Korea since the East Asian financial crisis. The dampened ripple effects are closely linked to the changed investment behaviors of the Korean large-sized exporting firms since the crisis: they do not invest in their export earnings any more to create new industries; they tend to use more foreign value added contents for their exports and to increase outward direct investment by actively participating in global value chains. The paper also examines a link between the growth of domestic demand and the growth of household disposable income and presents reasons for the decline in the growth of household disposable income since the East Asian financial crisis.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• 2006.11a
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• pp.255-258
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• 2006

Though the demand of foreign laborer in the labor market of domestic construction is increasing, systems for managing and supervising them are insufficient. The object of this study is to provide practical basic data to establish a system or a policy for efficient use of foreign laborers in the domestic construction industry. With the subjects of domestic laborers, who served in the domestic construction field, the actual state of using foreign laborers and the problems were investigated, and the existing employment system for foreign laborers and the recognition on plan for improving policy were analyzed

• Proceeding of Spring/Autumn Annual Conference of KHA
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• 2008.04a
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• pp.276-280
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• 2008

Korean Classical Music, as the abbreviated wording for 'Korean Music', is being used as the indicating phraseology for our traditional music that distinguishing from Western Music, the foreign music or foreign-styled popular music. Since such Korean Classical Music has the different acoustic characteristics from Western Music, it needs its own performance space for the special exclusive-use of Korean Classical Music. Likewise, even though the demand for the performance space of special exclusive-use for Korean Classical Music where Korean Classical Music is rendering, is on increasing tendency due to the increase of national concern about traditional culture art, since it is being planned without any concrete standard or method that gratifies the supreme listening condition, it is the real situation that a securement of the satisfying acoustic condition is very difficult, after the completion of construction. On such viewpoint, in order to evaluate the acoustic characteristics of the performance space of special exclusive-use for Korean Classical Music, based on the subjective response which reflects human being's psychological attribute at first, this Study has attempted to extract the proper evaluation vocabulary for appraisement on Korean Classical Music. The abstracted vocabulary in such way would be used significantly for Subjective Response Evaluation in order for the evaluation on the Acoustic Characteristics of the performance space of special exclusive-use for Korean Classical Music.

• The Journal of Information Technology
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• v.5 no.4
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• pp.173-183
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• 2002

In this paper, we propose an efficient forecasting methodology of the mid and long-term frequency demand in Korea. The methodology consists of the following three steps: classification of basic service group, calculation of effective traffic, and frequency forecasting. Based on the previous studies, we classify the services into wide area mobile, short range radio, fixed wireless access and digital video broadcasting in the step of the classification of basic service group. For the calculation of effective traffic, we use the measures of erlang and bps. The step of the calculation of effective traffic classifies the user and basic application, and evaluates the effective traffic. Finally, in the step of frequency forecasting, different methodology will be proposed for each service group.