• Journal of the Korea Academia-Industrial cooperation Society
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• v.21 no.5
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• pp.458-465
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• 2020

The purpose of this study is to analyze the effect of policy in Jeju, using a macro-economic forecasting model of Jeju. First, the model's reality explanatory power improved by updating its statistics to 2017 and expanding new policy variables and modules. Also, the industrial structure of the model was further subdivided and extended to be considered simultaneously in the demand side of Keynesian theory. Second, it was determined that the predictive power for the model of this study was better than that of the existing model. However, with some endogenous variables, it was possible to identify implications that should be developed and considered when the model is improved with additional data in the future. Third, when the second airport construction was considered, it was observed that its effect was an increase of 1.25 times for GRDP, 1.2 times for employment, 1.48 times for private consumption, and 2.06 times for investment. Also, the economic growth rate was estimated to be 1.6% point higher than when the second airport was not constructed. Finally, the results of this study are expected to be used for policy decision making of the Jeju Government.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.21 no.1
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• pp.138-147
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• 2020

The construction field is one of the most representative job creation businesses, but it has been pointed out that the overall quality of the jobs is low because of the nature of the order-made production industry, such as unstable employment structure, aging workforce, etc.. Accordingly, the government plans to implement the "prevailing wage system" that guarantees a minimum wage for construction site workers. In reality, however, only a market wage could be used for a construction cost estimation because there was no standard for the prevailing wage. A comparative analysis of the prevailing wage and market wage was performed. This paper proposes a framework for estimating the reasonable prevailing wage in the construction industry. The results showed that the prevailing wage was estimated to be 4.7% lower than the market wage when the proposed framework is applied to the carpenters' case. This suggests that the proposed model could be used as an alternative for market wage considering the original purpose of the prevailing wage. This study will construct the basic data for scientific analysis on the wage, and finally, help estimate the reliable prevailing wage in the future.

• The Journal of the Korea Contents Association
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• v.21 no.1
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• pp.417-425
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• 2021

This study was conducted to evaluate the characteristics of major selection of college students majoring in culinary. By conducting an Importance-Performance Analysis(IPA) through students who are currently majoring in a culinary major, it is intended to increase student satisfaction, student loyalty, the enrollment rate and to present the direction the college should pursue. The questionnaire was conducted for 4 weeks from June 22, 2020 to July 19, 2020, the results are as follows. As a result of the t-test (paired sample t-test) for 23 attributes, the average value of importance was 4.0765, the average value of satisfaction was 3.5091, showing high importance, the attributes considered important by item were 'educational facilities (4.50)', 'school welfare (4.50)', the attributes having the highest satisfaction with experience after selecting a major were 'aptitude and conformity (3.94)', 'future hope and concordance (3.91)'. The IPA analysis results on the major selection attributes of college students majoring in culinary are as follows. First, In the first quadrant, 11 attributes including 'aptitude and conformity' appeared, Second, In the second quadrant, 5 attributes including 'employment support' appeared. Third, In the third quadrant, 5 attributes including 'college scholastic ability score' appeared, Finally, In the fourth quadrant, 2 attributes including 'experience in major field' appeared.

• Journal of Korea Port Economic Association
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• v.31 no.1
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• pp.147-169
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• 2015

Our society has been changed so rapidly and we have achieved industrialization and democratization swiftly. On our Economic growth and democratization, it is appraised that Christian Thought and western Capitalism thoughts have been one of the important factors. John Calvin, well known Reformer and thinker of Protestant, as M. Weber assessed, contributed greatly to the progress of Capitalism. He was a Religion Reformer as M. Luther and especially a thinker and man of deed, who affected large areas of human life such as Religion, Economy, Society and Politics. Calvin understood Economy is the main issue of theology and Economic activities can be a position which may restore the correct relationship of God and Man. This Paper aimed to survey, synthesize and systemize the Economy and Management thought of J. Calvin. On these changing current society, it surveyed if His thoughts that has long history, can be applicable or not and Where and How it may. Calvin's Thought not only on his age caused important changes and Reformation but now suggests critical milestones. His Thoughts of Love, Justice, and Fairness based on the Bible have been evaluated as the universal truth and important criteria. Until nowadays his Philosophy has composed critical Principles of decision making rules of Economy and Management and National policies. Especially today, when economy has been more emphasized as a center of our lives, His Thought suggests momentous directions on various Human Life such as Justice and Fairness, deepening of gap between poor and rich, expansion of conflicts among social classes, employment and wages, freedom of markets and its balance, and public good of land use. Reviewing Calvin's Economy and Management thoughts as meaningful basis on the our and world Economy which became worse caused by world monetary crisis and Europe financial crisis that aroused by world Economy globalization and expansion of neo-liberalism, this Paper suggested some future directions. And for the practical sectors, Distribution and Logistics, it proposed some issues and Directions, considering the impacts of His thoughts on the Industries. Nevertheless it can deliver some contributions, as a literature research, it reveals some limitations that it may contain lacking of practical investigations and cases on economy and management fields. In the future, more detailed and deeper research on the practical and situations of economy and management shall be needed.

• Journal of Intelligence and Information Systems
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• v.25 no.2
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• pp.57-75
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• 2019

In this paper, we conducted a study focusing on the innovation direction of the documentary model on the Internet of Things industry, which is the most actively industrialized among the core technologies of the 4th Industrial Revolution. Policy, economic, social, and technical issues were derived using PEST analysis for global trend analysis. It also presented future prospects for the Internet of Things industry of ICT-related global research institutes such as Gartner and International Data Corporation. Global research institutes predicted that competition in network technologies will be an issue for industrial Internet (IIoST) and IoT (Internet of Things) based on infrastructure and platforms. As a result of the PEST analysis, developed countries are pushing policies to respond to the fourth industrial revolution through cooperation of private (business/ research institutes) led by the government. It was also in the process of expanding related R&D budgets and establishing related policies in South Korea. On the economic side, the growth tax of the related industries (based on the aggregate value of the market) and the performance of the entity were reviewed. The growth of industries related to the fourth industrial revolution in advanced countries overseas was found to be faster than other industries, while in Korea, the growth of the "technical hardware and equipment" and "communication service" sectors was relatively low among industries related to the fourth industrial revolution. On the social side, it is expected to cause enormous ripple effects across society, largely due to changes in technology and industrial structure, changes in employment structure, changes in job volume, etc. On the technical side, changes were taking place in each industry, representing the health and medical sectors and manufacturing sectors, which were rapidly changing as they merged with the technology of the Fourth Industrial Revolution. In this paper, various management methodologies for innovation of existing business model were reviewed to cope with rapidly changing industrial environment due to the fourth industrial revolution. In addition, four criteria were established to select a management model to cope with the new business environment: 'Applicability', 'Agility', 'Diversity' and 'Connectivity'. The expert survey results in an AHP analysis showing that Business Model Canvas is best suited for business model innovation methodology. The results showed very high importance, 42.5 percent in terms of "Applicability", 48.1 percent in terms of "Agility", 47.6 percent in terms of "diversity" and 42.9 percent in terms of "connectivity." Thus, it was selected as a model that could be diversely applied according to the industrial ecology and paradigm shift. Business Model Canvas is a relatively recent management strategy that identifies the value of a business model through a nine-block approach as a methodology for business model innovation. It identifies the value of a business model through nine block approaches and covers the four key areas of business: customer, order, infrastructure, and business feasibility analysis. In the paper, the expansion and application direction of the nine blocks were presented from the perspective of the IoT company (ICT). In conclusion, the discussion of which Business Model Canvas models will be applied in the ICT convergence industry is described. Based on the nine blocks, if appropriate applications are carried out to suit the characteristics of the target company, various applications are possible, such as integration and removal of five blocks, seven blocks and so on, and segmentation of blocks that fit the characteristics. Future research needs to develop customized business innovation methodologies for Internet of Things companies, or those that are performing Internet-based services. In addition, in this study, the Business Model Canvas model was derived from expert opinion as a useful tool for innovation. For the expansion and demonstration of the research, a study on the usability of presenting detailed implementation strategies, such as various model application cases and application models for actual companies, is needed.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.10 no.3
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• pp.171-183
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• 2015

Unlike the over 60 years American history of entrepreneurship education, in spite of its short history Korean entrepreneurship education has been rapidly developing. These rapid growth of background, founding activation of for a creative economy realization of core policy of aggressive entrepreneurship education assistance policy and the new government ministries and agencies of government, and growth and global and recession without employment the can and the like or the importance of all the national foundation through. Moreover, the entrepreneurship education came into universities, can not be considered in isolation now academic part of foundation. This study focuses on the analysis the past history of entrepreneurship education based on a variety of data collection. And the analysis is based on three parts; the status of domestic entrepreneurship education, entrepreneurship courses and entrepreneurship research. The result shows that domestic entrepreneurship education is being developed and spread rapidly. Moreover, the number of entrepreneurship courses are increased exponentially in addition to research activities that can contribute to the development of entrepreneurship are also actively performed. Until 2013 the number of entrepreneurship courses opened in universities is 57 times more in last 21 years, meaning that entrepreneurship education is expanding rapidly. In addition, the 142 various journals in domestic are publishing with a research topic related to entrepreneurship, comparing the 44 US journals researching primarily on entrepreneurship, and we can also expect the future growth of domestic research field. This study gives the implication on the field of entrepreneurship education, entrepreneurship courses and entrepreneurship research based on the analysis of existing studies and related materials for the history of entrepreneurship education. With the result of the analysis this study may contribute to entrepreneurship education and research in Korea, and also give insight for nurturing entrepreneurship culture and spirits.

• Cartoon and Animation Studies
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• s.41
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• pp.455-486
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• 2015

The 3D printing technology, which started from the patent registration in 1986, was a technology that did not attract attention other than from some companies, due to the lack of awareness at the time. However, today, as expiring patents are appearing after the passage of 20 years, the price of 3D printers have decreased to the level of allowing purchase by individuals and the technology is attracting attention from industries, in addition to the general public, such as by naturally accepting 3D and to share 3D data, based on the generalization of online information exchange and improvement of computer performance. The production capability of 3D printers, which is based on digital data enabling digital transmission and revision and supplementation or production manufacturing not requiring molding, may provide a groundbreaking change to the process of manufacturing, and may attain the same effect in the character merchandise sector. Using a 3D printer is becoming a necessity in various figure merchandise productions which are in the forefront of the kidult culture that is recently gaining attention, and when predicting the demand by the industrial sites related to such character merchandise and when considering the more inexpensive price due to the expiration of patents and sharing of technology, expanding opportunities and sectors of employment and cultivating manpower that are able to engage in further creative work seems as a must, by introducing education courses cultivating manpower that can utilize 3D printers at the education field. However, there are limits in the information that can be obtained when seeking to introduce 3D printers in school education. Because the press or information media only mentions general information, such as the growth of the industrial size or prosperous future value of 3D printers, the research level of the academic world also remains at the level of organizing contents in an introductory level, such as by analyzing data on industrial size, analyzing the applicable scope in the industry, or introducing the printing technology. Such lack of information gives rise to problems at the education site. There would be no choice but to incur temporal and opportunity expenses, since the technology would only be able to be used after going through trials and errors, by first introducing the technology without examining the actual information, such as through comparing the strengths and weaknesses. In particular, if an expensive equipment introduced does not suit the features of school education, the loss costs would be significant. This research targeted general users without a technology-related basis, instead of specialists. By comparing the strengths and weaknesses and analyzing the problems and matters requiring notice upon use, pursuant to the representative technologies, instead of merely introducing the 3D printer technology as had been done previously, this research sought to explain the types of features that a 3D printer should have, in particular, when required in education relating to the development of figure merchandise as an optional cultural contents at cartoon-related departments, and sought to provide information that can be of practical help when seeking to provide education using 3D printers in the future. In the main body, the technologies were explained by making a classification based on a new perspective, such as the buttress method, types of materials, two-dimensional printing method, and three-dimensional printing method. The reason for selecting such different classification method was to easily allow mutual comparison of the practical problems upon use. In conclusion, the most suitable 3D printer was selected as the printer in the FDM method, which is comparatively cheap and requires low repair and maintenance cost and low materials expenses, although rather insufficient in the quality of outputs, and a recommendation was made, in addition, to select an entity that is supportive in providing technical support.

• Journal of Distribution Science
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• v.10 no.2
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• pp.29-41
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• 2012

This paper undertakes a conceptual review of transaction cost to broaden the understanding of the transaction cost analysis (TCA) approach. More than 40 years have passed since Coase's fundamental insight that transaction, coordination, and contracting costs must be considered explicitly in explaining the extent of vertical integration. Coase (1937) forced economists to identify previously neglected constraints on the trading process to foster efficient intrafirm, rather than interfirm, transactions. The transaction cost approach to economic organization study regards transactions as the basic units of analysis and holds that understanding transaction cost economy is central to organizational study. The approach applies to determining efficient boundaries, as between firms and markets, and to internal transaction organization, including employment relations design. TCA, developed principally by Oliver Williamson (1975,1979,1981a) blends institutional economics, organizational theory, and contract law. Further progress in transaction costs research awaits the identification of critical dimensions in which transaction costs differ and an examination of the economizing properties of alternative institutional modes for organizing transactions. The crucial investment distinction is: To what degree are transaction-specific (non-marketable) expenses incurred? Unspecialized items pose few hazards, since buyers can turn toalternative sources, and suppliers can sell output intended for one order to other buyers. Non-marketability problems arise when specific parties' identities have important cost-bearing consequences. Transactions of this kind are labeled idiosyncratic. The summarized results of the review are as follows. First, firms' distribution decisions often prompt examination of the make-or-buy question: Should a marketing activity be performed within the organization by company employees or contracted to an external agent? Second, manufacturers introducing an industrial product to a foreign market face a difficult decision. Should the product be marketed primarily by captive agents (the company sales force and distribution division) or independent intermediaries (outside sales agents and distribution)? Third, the authors develop a theoretical extension to the basic transaction cost model by combining insights from various theories with the TCA approach. Fourth, other such extensions are likely required for the general model to be applied to different channel situations. It is naive to assume the basic model appliesacross markedly different channel contexts without modifications and extensions. Although this study contributes to scholastic research, it is limited by several factors. First, the theoretical perspective of TCA has attracted considerable recent interest in the area of marketing channels. The analysis aims to match the properties of efficient governance structures with the attributes of the transaction. Second, empirical evidence about TCA's basic propositions is sketchy. Apart from Anderson's (1985) study of the vertical integration of the selling function and John's (1984) study of opportunism by franchised dealers, virtually no marketing studies involving the constructs implicated in the analysis have been reported. We hope, therefore, that further research will clarify distinctions between the different aspects of specific assets. Another important line of future research is the integration of efficiency-oriented TCA with organizational approaches that emphasize specific assets' conceptual definition and industry structure. Finally, research of transaction costs, uncertainty, opportunism, and switching costs is critical to future study.

• Journal of the Korean association of regional geographers
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• v.6 no.2
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• pp.21-40
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• 2000

The retail trades in many countries have changed recently according to the high quality, diversification, and marked individuality of consumer needs. Under the continually competing system of the WTO agreement, corporations based in the USA and the EU try to raise their market share in other countries so it is inevitable for Korean retail enterprises to compete with them. This paper is aimed at contributing to the efficient growth for Korean retail trade from the analysis of the development process in retail trade and its changing locations comparing Korea and the USA. Retailers in the USA have practiced diversified marketing strategies considerably in order to survive in a rapidly changing retailing environment. American retailing, which has the most advanced marketing system in the world, has been of growing concern to marketing strategies in Korea. The following is a brief summary of this study. 1. Speedy and higher quality consumption is needed in accordance with the great increase in the single-family household and the female labor force participation both in Korea and in the USA. Senior citizens have become a new consumer group due to the aging population. In the future the retail trade will switch over to diversified retail formats and internet shopping as countries are transformed into information and communication societies. 2. In Korea, the former retail system characterized by markets and department stores has been greatly changed since the late 1980s with emphasis on high quality and convenience in consumption behaviors, with large domestic enterprises and foreign distribution corporations participating in Korean retailing. In the USA, retailing mergers and takeovers by major retails, bankruptcies, and extra-large shopping centers have emerged since the late 1980s. Recently, the USA retailing formats have been changed from the lower price-oriented discount types to the large scale theme parks. Much emphasis was put on entertainment, resorts, and convention centers. On the other hand, non-store types, such as the internet shopping, the CATV shopping, as well as catalog and mail-order sales are drastically increasing, although the proportion of their sales is low up to now. 3. In Korea, most of the retail facilities are concentrated in Seoul and the Metropolitan Region, and the distribution ratio of facilities came to 52% in 1997. The periodic markets, traditional markets which open on a periodic basis, are located mainly in Chollanam-do and Kyungsangbuk-do. The large-sized discount stores have expanded their locations to the over-crowded apartment complexes in new towns, located in the Metropolitan Region, and the large provincial cities, unlike the suburban locations in the USA. Therefore we needed to give attention to the locational relations in retail facilities between Seoul & the Metropolitan Region and rural settlement areas. In the USA, urban areas grew quickly with the development of the automobile in the 1920s, and the location of stores changed from a dispersed style centering around rural areas to a centralized one in urban areas. There is an accelerated growth for suburban areas, which have grown rapidly since 1950. As the membership warehouse clubs were introduced in the 1970s, the decentralization of location was more intensified. On the other hand, inner cities were revitalized by rearranging existing facilities to cope with suburban areas. And the location-free virtual retailing & TV shopping are also growing every year. 4. In view of the above, the continuous and desirable development devices in Korean retail trade are summarized as follows: First, the countermeasures against economies of scale, increase in retailing sales, and rise of a employment percentage in retailing are in need. Second, a scheme of lowering the proportion of food retail sales, and increasing a ratio of durable goods sales need to be worked out. Third, the original ideas are needed to apply positively information, communication and technology to retailing, to graft the traditional types on modem ones based on the social culture. Fourth, strategies are needed to strengthen the competitiveness of our retail trade through cooperation and chains of smaller retailers, the large enterprises participating in the distribution industry. Fifth, in order to realize the above, the retail industry, the administration, and the academic world should support the retail segment with concern and a practical strategy plan.

• Asia pacific journal of information systems
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• v.20 no.3
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• pp.115-137
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• 2010

Information technology (IT) outsourcing, the use of a third-party vendor to provide IT services, started in the late 1980s and early 1990s in Korea, and has increased rapidly since 2000. Recently, firms have increased their efforts to capture greater value from IT outsourcing. To date, there have been a large number of studies on IT outsourcing. Most prior studies on IT outsourcing have focused on outsourcing practices and decisions, and little attention has been paid to objectively measuring the value of IT outsourcing. In addition, studies that examined the performance of IT outsourcing have mainly relied on anecdotal evidence or practitioners' perceptions. Our study examines the contribution of IT outsourcing to economic growth in Korean industries over the 1990 to 2007 period, using a production function framework and a panel data set for 54 industries constructed from input-output tables, fixed-capital formation tables, and employment tables. Based on the framework and estimation procedures that Han, Kauffman and Nault (2010) used to examine the economic impact of IT outsourcing in U.S. industries, we evaluate the impact of IT outsourcing on output and productivity in Korean industries. Because IT outsourcing started to grow at a significantly more rapid pace in 2000, we compare the impact of IT outsourcing in pre- and post-2000 periods. Our industry-level panel data cover a large proportion of Korean economy-54 out of 58 Korean industries. This allows us greater opportunity to assess the impacts of IT outsourcing on objective performance measures, such as output and productivity. Using IT outsourcing and IT capital as our primary independent variables, we employ an extended Cobb-Douglas production function in which both variables are treated as factor inputs. We also derive and estimate a labor productivity equation to assess the impact of our IT variables on labor productivity. We use data from seven years (1990, 1993, 2000, 2003, 2005, 2006, and 2007) for which both input-output tables and fixed-capital formation tables are available. Combining the input-output tables and fixed-capital formation tables resulted in 54 industries. IT outsourcing is measured as the value of computer-related services purchased by each industry in a given year. All the variables have been converted to 2000 Korean Won using GDP deflators. To calculate labor hours, we use the average work hours for each sector provided by the OECD. To effectively control for heteroskedasticity and autocorrelation present in our dataset, we use the feasible generalized least squares (FGLS) procedures. Because the AR1 process may be industry-specific (i.e., panel-specific), we consider both common AR1 and panel-specific AR1 (PSAR1) processes in our estimations. We also include year dummies to control for year-specific effects common across industries, and sector dummies (as defined in the GDP deflator) to control for time-invariant sector-specific effects. Based on the full sample of 378 observations, we find that a 1% increase in IT outsourcing is associated with a 0.012~0.014% increase in gross output and a 1% increase in IT capital is associated with a 0.024~0.027% increase in gross output. To compare the contribution of IT outsourcing relative to that of IT capital, we examined gross marginal product (GMP). The average GMP of IT outsourcing was 6.423, which is substantially greater than that of IT capital at 2.093. This indicates that on average if an industry invests KRW 1 millon, it can increase its output by KRW 6.4 million. In terms of the contribution to labor productivity, we find that a 1% increase in IT outsourcing is associated with a 0.009~0.01% increase in labor productivity while a 1% increase in IT capital is associated with a 0.024~0.025% increase in labor productivity. Overall, our results indicate that IT outsourcing has made positive and economically meaningful contributions to output and productivity in Korean industries over the 1990 to 2007 period. The average GMP of IT outsourcing we report about Korean industries is 1.44 times greater than that in U.S. industries reported in Han et al. (2010). Further, we find that the contribution of IT outsourcing has been significantly greater in the 2000~2007 period during which the growth of IT outsourcing accelerated. Our study provides implication for policymakers and managers. First, our results suggest that Korean industries can capture further benefits by increasing investments in IT outsourcing. Second, our analyses and results provide a basis for managers to assess the impact of investments in IT outsourcing and IT capital in an objective and quantitative manner. Building on our study, future research should examine the impact of IT outsourcing at a more detailed industry level and the firm level.