• KDI Journal of Economic Policy
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• v.32 no.4
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• pp.153-195
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• 2010

The recent global financial crisis has been the outcome of, among other things, the mismatch between institutions and the reality of the market in the current global financial system. The International financial institutions (IFIs) that were designed more than 60 years ago can no longer effectively meet the challenges posed by the current global economy. While the global financial market has become integrated like a single market, there is no international lender of last resort or global regulatory body. There also has been a rapid shift in the weight of economic power. The share of the Group of 7 (G7) countries in global gross domestic product (GDP) fell and the share of emerging market economies increased rapidly. Therefore, the tasks facing us today are: (i) to reform the IFIs -mandate, resources, management, and governance structure; (ii) to reform the system such as the international monetary system (IMS), and regulatory framework of the global financial system; and (iii) to reform global economic governance. The main focus of this paper will be the IMS reform and the role of the Group of Twenty (G20) summit meetings. The current IMS problems can be summarized as follows. First, the demand for foreign reserve accumulation has been increasing despite the movement from fixed exchange rate regimes to floating rate regimes some 40 years ago. Second, this increasing demand for foreign reserves has been concentrated in US dollar assets, especially public securities. Third, as the IMS relies too heavily on the supply of currency issued by a center country (the US), it gives an exorbitant privilege to this country, which can issue Treasury bills at the lowest possible interest rate in the international capital market. Fourth, as a related problem, the global financial system depends too heavily on the center country's ability to maintain the stability of the value of its currency and strength of its own financial system. Fifth, international capital flows have been distorted in the current IMS, from EMEs and developing countries where the productivity of capital investment is higher, to advanced economies, especially the US, where the return to capital investment is lower. Given these problems, there have been various proposals to reform the current IMS. They can be grouped into two: demand-side and supply-side reform. The key in the former is how to reduce the widespread strong demand for foreign reserve holdings among EMEs. There have been several proposals to reduce the self-insurance motivation. They include third-party insurance and the expansion of the opportunity to borrow from a global and regional reserve pool, or access to global lender of last resort (or something similar). However, the first option would be too costly. That leads us to the second option - building a stronger globalfinancial safety net. Discussions on supply-side reform of the IMS focus on how to diversify the supply of international reserve currency. The proposals include moving to a multiple currency system; increased allocation and wider use of special drawing rights (SDR); and creating a new global reserve currency. A key question is whether diversification should be encouraged among suitable existing currencies, or if it should be sought more with global reserve assets, acting as a complement or even substitute to existing ones. Each proposal has its pros and cons; they also face trade-offs between desirability and political feasibility. The transition would require close collaboration among the major players. This should include efforts at the least to strengthen policy coordination and collaboration among the major economies, and to reform the IMF to make it a more effective institution for bilateral and multilateral surveillance and as an international lender of last resort. The success on both fronts depends heavily on global economic governance reform and the role of the G20. The challenge is how to make the G20 effective. Without institutional innovations within the G20, there is a high risk that its summits will follow the path of previous summit meetings, such as G7/G8.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.21 no.2
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• pp.8-18
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• 2020

An Exponential Bandwidth Harmony Search with Centralized Global Search (EBHS-CGS) was developed to enhance the performance of a Harmony Search (HS). EBHS-CGS added two methods to improve the performance of HS. The first method is an improvement of bandwidth (bw) that enhances the local search. This method replaces the existing bw with an exponential bw and reduces the bw value as the iteration proceeds. This form of bw allows for an accurate local search, which enables the algorithm to obtain more accurate values. The second method is to reduce the search range for an efficient global search. This method reduces the search space by considering the best decision variable in Harmony Memory (HM). This process is carried out separately from the global search of the HS by the new parameter, Centralized Global Search Rate (CGSR). The reduced search space enables an effective global search, which improves the performance of the algorithm. The proposed algorithm was applied to a representative optimization problem (math and engineering), and the results of the application were compared with the HS and better Improved Harmony Search (IHS).

• Journal of the Economic Geographical Society of Korea
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• v.15 no.4
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• pp.642-659
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• 2012

The main aim of this article is to examine theoretical issues on the 'global-local connectivity' of regional industrial cluster and regional innovation system which have been presented since the 2000s in terms of three different aspects. Firstly, the concept of 'geographical proximity' is discussed within the context of its importance for the regional industrial development by considering relationships of cluster, local buzz and global pipeline. Secondly, concepts on knowledge gatekeeper and temporary cluster are explored with respect to their role of a mediator in forming or transforming global-local connectivity. Finally, policy implications of the global-local connection are presented. Authors arguments are as follows; firstly, in order to improve regional industrial cluster on the basis of geographical proximity, relational proximity which is beyond different spatial scales has to be secured. It means that geographical convenience and inconvenience are required simultaneously for regional industrial development. Secondly, A base of the global-local connectivity is socal capital and embeddedness. Therefore, it needs to understand that relational proximity is embedded into different culture and habit at different spatial scales. Finally, within the context of the global-local connectivity, in order to overcome spatial hierarchy by the division of labor of firms, it needs to consider the complex system which is composed of vertical and horizontal hierarchy by the spatial division of labor by firms, openness and closeness of clusters, and the scope of policies' inclusion and exclusion by central and local governments.

• International Commerce and Information Review
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• v.14 no.2
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• pp.55-79
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• 2012

The previous studies based on a resource-based view of firm highlighted the role of resources within a firm in creating and sustaining competitive advantage. Recent research, however, the relational view points to the importance of inter-firm sources(or relational capital) in creating firm competitiveness. In international business field, the studies on born-global firms also states that when firms are lack of ownership-specific advantages in their internationalization process, they resort to the external partners and social networks to complement their resource scarcity. By adopting the relational view and born-global firms concept, a network-based approach needs to be applied to explain the international strategy of Korean service firms. This is because most of Korean service firms own less ownership-specific advantages than global competitors. This study proposes Korean firms' global network building and exploiting strategy to enhance their international stages of development. The network, for example, Global Korean Tourism Network, enables network members access to the valuable resources and capabilities they are lack of when undergoing internationalization process. This study's contribution is along two dimension. First, even global Korean network is emerging as a major issue in recent years, we could not figure out how to build global Korean network for service firms. This studies gives an answer. Second, we derived what benefits can be gained from the network if Global Korean Tourism Network is developed for hotel, tourism, convention firms' internationalization.

• Journal of Korea Water Resources Association
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• v.32 no.6
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• pp.617-625
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• 1999

Global warming has begun since the industrial revolution and it is getting worse recently. Even though the increase of greenhouse gases such as $CO_2$ is thought to be the main cause for global warming, its impact on global climate has not been revealed clearly in rather quantitative manners. However, researches using General Circulation Models(GCMs) has shown the accumulation of greenhouse gases increases the global mean temperature, which in turn impacts on the global water circulation pattern. This changes in global water circulation pattern result in abnormal and more frequent meteorological events such as severe floods and droughts, generally more severe than the normal ones, which are now common around the world and is referred as a indirect proof of global warming. Korean peninsula also cannot be an exception and have had several extremes recently. The main objective of this research is to analyze the impact of global warming on the change of flood and drought frequency. Based on the assumption that now is a point in a continuously changing climate due to global warming, we analyzed the observed daily rainfall data to find out how the increase of annual rainfall amount affects the distribution of daily rainfall. Obviously, the more the annual rainfall depth, the more frequency of much daily rainfall, and vice versa. However, the analysis of the 17 points data of Keum river basin in Korea shows that especially the number of days of under 10mm or over 50mm daily rainfall depth is highly correlated with the amount of annual rainfall depth, not the number of dry days with their correlation coefficients quite high around 0.8 to 0.9.

• Asia Marketing Journal
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• v.16 no.4
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• pp.75-87
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• 2015

As more companies become interested in global markets, it has become crucial for firms to create globalized brands whose positioning, advertising strategy, personality, looks, and feel are consistent across nations. The purpose of this study is to investigate the global branding strategy of the Hyundai Motor Company (hereafter HMC) in order to show how the company processes its branding strategy. HMC, one of the leading global companies in the automobile industry, set up its brand identity as "Modern premium", in alignment with their new slogan "New Thinking New Possibilities", in 2011. The aim of the "Modern premium" concept was to provide consumers with new experiences and values beyond their expectations. HMC wanted their consumers to think of their cars as not only a medium of transportation but as a life space, where they can share experiences alongside HMC. In an effort to conduct consumer research in 5 different nations, HMC selected "brilliant" as a key communication concept. The word "brilliant" expresses the functional, experiential, and emotional dimensions of HMC. HMC furthermore chose "live brilliant" as a key campaign message in order to reinforce their communication concept. After this decision, the "live brilliant" campaign was exhibited through major broadcast channels around the world. The campaign was the company's first worldwide brand campaign, where a single message was applied to all major markets, with the goal of building up a consistent image as a global brand. This global branding strategy is worth examining due to its significant contribution to growth generation in the global market. Overall, the 'live brilliant' global brand campaign not only improved HMC's reputation image-wise, with the 'Modern Premium' conceptualization of the brand as 'simple', 'creative' and 'caring', but also improved the consumer's familiarity, preference and purchase intention of HMC. In fact, the "live brilliant" campaign was a successful campaign which increased HMC's brand value. Notably, HMC's brand value increased continuously and reached 9 billion US dollars in 2013, leading it to reach 43rd place in the Global Brand Rankings according to the brand consulting group Interbrand. Its brand value largely surpassed that of Nissan (65th) and Chevrolet (89th) in 2013. While it is true that the global branding strategy of HMC involved higher risks, it was highly successful according to cross-nation consumer research. Therefore, this paper concludes that the global branding strategy of HMC made a positive impact on its performance. We further suggest HMC to combine its successful marketing with social media such as Facebook, Twitter, and Instagram and embrace digital media by extending its brand communication horizon to the mobile internet

• Journal of the Korea Computer Graphics Society
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• v.29 no.3
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• pp.137-147
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• 2023

This paper presents a motion-capture-based projection VR system to explore the effectiveness of gamification in improving environmental awareness. We examine the key components of positive and negative VR game content and analyze the impact of individual and cooperative play methods on promoting sustainable behaviors. Our findings are as follows. Firstly, we discovered that the use of positive content in individual play mode was effective in improving awareness of the importance of recycling. Secondly, we confirmed that the use of positive content in cooperative play mode and the use of negative content in individual play mode were each effective in enhancing awareness of the seriousness of environmental pollution. Thirdly, we found that experiencing positive content first, followed by negative content, in individual play mode was effective in increasing interest in the environment. Based on these findings, we determined that adjusting the order of use of positive and negative content is more effective than simply using positive or negative content alone for improving environmental awareness. Moreover, considering the importance of recycling, the seriousness of environmental pollution, and the level of interest in the environment, we confirmed that individual play mode is effective and cooperative play mode can be more effective depending on the measure.

• Nuclear Engineering and Technology
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• v.56 no.5
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• pp.1781-1795
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• 2024

This study investigated the levels of radioactivity in soil surrounding a phosphate fertilizer factory in Egypt, aiming to assess potential risks to the population exposed to radiation. Concentrations of ²³⁸U, ²²⁶Ra, ²³²Th, and ⁴⁰K were measured in soil samples collected from two subsites: one near the factory (subsite 1) and another further away (subsite 2). Two different systems were used for measuring radioactivity, a high-purity gamma ray spectroscopy system with an HPGe detector for gamma-emitting isotopes and a CR-39 solid nuclear track detector for alpha-emitting radon gas. Subsite 1, located close to the factory, displayed significantly elevated levels of ²²⁶Ra compared to global background levels (514 and 456 Bq/kg vs. 35 Bq/kg). Additionally, the concentrations of ²³⁸U (241.06 Bq/kg vs. global average 35 Bq/kg), ²³²Th (16.15 Bq/kg vs. global average 30 Bq/kg), and ⁴⁰K (146.36 Bq/kg vs. global average 400 Bq/kg) were all above global averages. Furthermore, a high concentration of radon gas (337.06 μSv/y) was measured at subsite 1. The strong positive correlation observed between ²²⁶Ra and ²³⁸U (0.96256) provides further evidence of potentially elevated radioactivity levels near the factory. In contrast, subsite 2, situated farther from the factory, exhibited natural radioactive background levels within international limits. Quantitative analysis revealed that gamma ray absorbed doses for ²²⁶Ra and ²³²Th exceeded global averages in some samples. Specifically, ²²⁶Ra doses ranged from 7.8 to 46.26 ppm (exceeding the 20 ppm global average in some cases), and ²³²Th doses ranged from 1.98 to 9.14 ppm (exceeding the 10 ppm global average in some cases). The concentration of ⁴⁰K, however, remained within the global range (0.07%-0.69 %). The observed imbalances in the ratios of Th/U (0.17-0.24 Bq/kg and 0.73-0.24 ppm) and U/Ra (0.81-0.73 Bq/kg and 0.73-0.17 ppm), both of which are significantly lower than their respective global averages of 4 and 2.4, point towards the presence of fertilizer-derived contamination. This conclusion is further supported by the high phosphate concentrations detected in the samples. Overall, this study suggests that radioactive contamination near the phosphate fertilizer factory significantly exceeds global background levels and international limits in some cases. This raises concerns about potential risks posed to surrounding agricultural land and crops.

• International Commerce and Information Review
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• v.17 no.3
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• pp.251-278
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• 2015

Previous researches have been conducted on the drivers of alliance performance up to date. Unlike existing literatures, we examine the influence of alliance management capability as direct drivers on venture's alliance performance. Based upon organizational capability theory, we proposed that coordination capability, relationship capability, learning capability are main components of alliance management capabilities. In addition, we proposed capability of CEO as forth alliance management capability in global ventures. Using 78 global ventures as research sample, this study shows that these four alliance capabilities have considerable influence on financial performance of ventures with global alliances.

• Korean Journal of Social Welfare
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• v.65 no.4
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• pp.295-315
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• 2013

The purpose of this study is to analyse the ethical basis of two influential global citizenship idea - Rawls' liberal approach and cosmopolitan republicanism - as a theory on global justice. In the aspect of deontology, Rawls' view has the limit not to reflect reciprocal obligation and duty on civil right in the era of economic globalization that inequality has been structured. But cosmopolitan republicanism has the basis of deontological justification because advocates the realization of anti-domination principle at global level. In the aspect of utilitarianism, Rawls attempts to justify the logic rejecting redistribution intra nations. But cosmopolitan republicanism has the potential to decrease maleficence at global level and to increase utility level through overcoming the structured sacrifice of the citizens of developing countries.