• Journal of the Korean Data Analysis Society
• /
• v.20 no.6
• /
• pp.3015-3024
• /
• 2018

This study investigates the recent asymmetric effect of news on stock return volatility in Asian five stock markets - Japan, Korea, Singapore, Taiwan, and Malaysia - since 2000. This study uses the GJR-M model which shows a different effect of a good and bad news on volatility. Empirical results show that the unexpected negative return has a more crucial effect on stock return volatility than the unexpected positive one does in all five stock markets. This implies that the bad news of the stock markets gives a more remarkable effect on volatility than good news does. This study finds that it is very important for market participants and regulation practitioners to distinguish between positive and negative return shocks in the stock markets since bad news might have a larger impacts on volatility than good news.

• The Journal of the Korea Contents Association
• /
• v.17 no.5
• /
• pp.165-173
• /
• 2017

The purpose of this study was to analyze the correlation and volatility of Korea and neighboring East Asia stock markets. East Asian stock markets were selected for Japan, China, Hong Kong and Taiwan by economically and geographically close with Korea. If you understand the volatility and the correlation between Korea and the East Asian stock market, it may be helpful in predicting investment. And It may reduce the risk of investing of asset allocation in global portfolio level. For this using the national monthly return data for the last 163 months, I was calculating and comparison the rate and correlation, and regression analysis. Result of the correlation analysis, Korea have shown a low correlation with China. while showing a high correlation with Taiwan and Hong Kong. China has been forming its own market in East Asia and showing a low correlation with other countries exception Hong Kong. Hong Kong has been determined as the highest harmonization within the East Stock Market.

• Journal of Distribution Science
• /
• v.8 no.1
• /
• pp.43-52
• /
• 2010

Country images of Korea and Japan based on economic development, education level, goods' quality, R&D, political democratization and quality of life, perceived by Chinese university students in Beijing, Shanghai and Shandong province of chinese emerging markets as the representative of a potential buying power group, are surveyed, which, then are used to study how the perceived country images effect on their purchasing intention for Korean and Japanese products, such as, foods, cars, fashions, music CDs, electronic products and living goods. The study shows that, in chinese emerging markets, country image affects on the purchase intention of each products differently. The country image of Korea was less influential than that of Japan on the Chines students' purchasing intention for the goods other than the electronic goods. Despite the small number of the sample, this study showed the importance of country image in the in chinese emerging markets and suggested the need for both the government and private sector to take a strategy to enhance the country image by finding the relation between the elements of country image and the intention to purchase certain product.

• STI Policy Review
• /
• v.4 no.1
• /
• pp.135-161
• /
• 2013

This paper examines Japan's Science and Technology (S&T) Basic Plans in accordance with its S&T Basic Law. The Basic Plans promote two major innovation (Green Innovation and Life Innovation) towards the creation of new markets and jobs, specifically under the Fourth S&T Basic Plan enacted on August 2011. Successful smart community demonstration projects at four urban localities were launched under plans to promote Green Innovation research and development of renewable energy technologies. However, the expectation that renewable energy such as solar or wind power can replace nuclear power is not backed by sufficient evidence. Furthermore, the electricity produced by these sources is expensive and unstable owing to its reliance on weather conditions. The Fukushima nuclear power plant accident on March 2011 has also seriously affected Japan's future energy plans. According to a government estimate, electricity charges would double if nuclear power generation were abandoned, imposing a heavy burden on the Japanese economy. Japan is in need of energy policies designed on the basis of more far-sighted initiatives.

• Environmental and Resource Economics Review
• /
• v.21 no.4
• /
• pp.809-850
• /
• 2012

A linkage of emissions trading schemes among Korea, China and Japan demonstrates overall increase in gross domestic product (GDP). However, it also demonstrates reductions in household consumption, and the impact of integration could be very unbalanced between the countries. In particular, the reductions in domestic marginal costs are high in both Korea and Japan. Therefore, household consumptions in the two countries decrease despite increases in GDP because Korea and Japan will be purchasers of emissions rights. China, on the other hand, will experience the opposite. The unbalanced impacts on real household consumptions are intensified when emission credits are allocated via paid auctions instead of free allocation. This was demonstrated to be the case because the circumstances of three countries are intensified when using a paid emissions credit allocation scheme, and their differences could potentially hinder the cooperation between the three countries. Under the free allocation scheme, the emission trading schemes' unbalanced impacts on consumption could be mitigated, but unavoidable negative impacts of free allocation schemes are also serious. Based on the analysis results, Korea, China, and Japan will individually face complicated impacts if their carbon markets are integrated. Although the GDP of three countries will increase as a result of carbon market integration, the benefits of integration will surely be unbalanced, and the three countries will experience negative impacts in terms of actual consumption or employment. In particular, increases in income and consumption, reductions in employment, and energy dependence by credit purchasers (Japan and Korea) and production reduction and possibility of offshoring faced by revenue producing countries (China) could serve as a barrier to carbon market integration. To maximize the positive influences of carbon market integration while reducing the risks of negative side effects, the development and application of complimentary policy tools, such as import duties or discounts for emissions credits, are required.

• Korea Journal of Hospital Management
• /
• v.14 no.4
• /
• pp.52-70
• /
• 2009

This study is to analyse the reimbursement prices of drugs in Japan. Japan has the world's second-largest pharmaceutical market, and the world's largest price-controlled pharmaceutical market. The reimbursement prices of new drugs in Japan are determined by confidential negotiations between the manufacturer and the Japanese Ministry of Health, Labor, and Welfare. Pharmaceuticals account for a larger share of total healthcare expenditures in Japan than in most other major pharmaceutical markets such as France, Germany, United Kingdom and United States. Prescription drugs' share of total healthcare spending has slightly increased in recent years, from 20.2% in 2000 to 21.5% in 2004, the most recent year for which data are currently available. This trend is attributable to the effect of the Japanese rapidly aging population that stimulates demand for healthcare services. There are several method of price setting for drugs as below. First, on the initial pricing of branded drugs, is the similar-efficacy pricing method and cost calculation method. Second is postmarketing price changes which are biennial price revisions under the rule of National Health Insurance. Third is the rule of the generics price. Recently, the generics market is expanded because there are increasing numbers of hospitals by DPCs(Diagnosis-procedure Combinations).

• Journal of Distribution Science
• /
• v.12 no.5
• /
• pp.71-80
• /
• 2014

Purpose - The object of this paper is to ascertain how Japan has become a powerful trader in the international grain market. A case in point is the world's third largest U.S. major grain trader, Gavilon, merged with general trading company Marubeni in 2012. What are Japan's strategies and their implications? Research design, data, and methodology - The study analyzed Japanese Ministry of Agriculture, Forestry, and Fisheries data, and data from daily and weekly papers. The paper employed various data and research methodologies. Results - The Lee Myeong-Bak government tried for three years to create a company similar to Cargill, but the project eventually failed. On the other hand, Japan has emerged as a leader in the international grain distribution market for the past 50 years, with the cooperation of government and private companies. Conclusion - The findings of this study show that Korea, China, India, and other countries' international major grain companies now compete to be powerful, major grain traders. South Korea could be the leader of the international grain market through the development of a more careful and long-term strategy.

• The Journal of Fisheries Business Administration
• /
• v.38 no.1 s.73
• /
• pp.47-70
• /
• 2007

The seaweed processing industry in Korea has developed since the late of 1970s, motivated by exports of salted seaweed to the Japan market. However, due to the keen competition of Korean salted and dried seaweed with chinese products in the japan market, exports of Korean seaweed have been in the decreasing. It also has promoted the restructuring of the seaweed processing industry itself as follows: first, the processing type has been changed from the slated seaweed processing to the dried seaweed processing. Second, domestic markets for seaweed have been significantly expanded. This study is aimed to investigate some problems that the seaweed processing industry currently faces and to provide responding strategies for its development by analyzing a background, characteristics, and business types in the Wando region of Jeollanamdo that is a primary region of the seaweed processing industry in Korea. The background that the seaweed processing industry in Wando region could be started and developed is that first, small and mid-size salted seaweed processing companies have grown fast due to the exports to the japan market. Second, various business conditions, including seaweed materials, labors that are very important factors for the seaweed processing were more suitable compared to other regions. As characteristics of the seaweed processing industry, it shows that small-scale companies have a larger decreasing rate in sales and over 85% companies process seaweed together with other materials such as kelp, etc. The biggest problem that the seaweed processing industry has is that it has not timely responded to changes in domestic and international markets. Therefore, it is very important to cope with market changes by both introducing an aquaculture outlook service for seaweed and promoting higher value-added products and demands through publicities.

• Journal of Korean Society of Transportation
• /
• v.27 no.5
• /
• pp.75-82
• /
• 2009

Air transport markets are composed of airlines' networks through their base airports. The analysis of an air transport market has been focusing on determining the efficiency or competitiveness of airports or airlines in the market using number of routes, number of passengers, transfer rates, revenues, costs, and other data. However, little work has been done in analyzing the airport network itself. Assuming the air transport markets of Korea, China, and Japan are integrated, this paper aims to analyze the characteristics of the resulting airport network. To that end, the degree of connectivity, the degree of closeness, and the betweenness of centrality are employed. The analysis shows that Incheon International Airport is better than most other airports in terms of the degree of connectivity and that of closeness. Airports in Japan, however, exhibit strong connectivity but weak closeness and betweenness of centrality. Although it has low connectivity, Shenyang Airport has a possibility of becoming an attractive point of the integrated market in the future due to its high degree of closeness.

• Journal of Korea Port Economic Association
• /
• v.31 no.2
• /
• pp.1-21
• /
• 2015

This study verifies the change in market conditions in the Korea-China and Korea-Japan car ferry routes. Variation in historical development has led to differences in the lifecycle stages of these two car ferry shipping markets. However, previous studies have focused on individual car ferry routes rather than offering a more general understanding of this market. Based on the foregoing, we investigate the international car ferry market conditions from/to Korean ports, assess the management performances of car ferry companies, analyze the lifecycle stages of each car ferry route, and offer insights into the future of these markets. We show that the competitive market conditions and demands of passengers and cargoes differ between these routes. As for the market stage, we conclude that the Korea-China route is entering a mature market, whereas the Korea-Japan route is entering a declining stage.