• The Journal of the Korea Contents Association
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• v.17 no.8
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• pp.162-174
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• 2017

Product Certification Marks can be used as reliable information in terms of product quality to consumers. This study focuses on how each product attitude of consumers in Korea and China can be changed depending on attachment of product certification mark. Based on nations, product certification marks, and price levels, eight types of questionnaire are distributed and collected where the respondents are allowed to answer product attitudes of two different products in oder to minimize the effect of the product characteristic. As a result, the product attitude of Korean consumers has been showed to more depend on product certification mark than that of Chinese consumers does. The moderating effect of price has been stronger on Chinese consumers than on Korean consumers, and in the case of high price there has been a distinct gap between two countries. This study has its meaning in the way of that the product certification mark has been considered in relation to price level and differently affected product attitude between two countries.

• Journal of Korea Port Economic Association
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• v.34 no.1
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• pp.99-110
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• 2018

This study empirically examines simple methodology to quantify the risk resulted from the uncertainty of bunker price and foreign exchange rate, which cause main resources of the cost in shipping industry during the periods between $1^{st}$ of January 2010 and $31^{st}$ of January 2018. To shed light on the risk measurement in cash flows we tested GBM(Geometric Brownian Motion) frameworks such as the model with conditional heteroskedasticity and jump diffusion process. The main contribution based on empirical results are summarized as following three: first, the risk analysis, which is dependent on a single variable such as freight yield, is extended to analyze the effects of multiple factors such as bunker price and exchange rate return volatility. Second, at the individual firm level, the need for risk management in bunker price and exchange rate is presented as cash flow. Finally, based on the scale of the risk presented by the analysis results, the shipping companies are required that there is a need to consider what is appropriate as a means of risk management.

• Environmental and Resource Economics Review
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• v.24 no.4
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• pp.629-655
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• 2015

Nuclear power generation is a major power source which accounts for more than 30% of domestic electricity generation. Electricity market needs to secure stability of base load. This study aimed at analyzing relationships between nuclear power generation and wholesale electricity price (SMP: System Marginal Price) in Korea. For this we conducted ARDL(Autoregressive Distributed Lag) approach and Granger causality test. We found that in terms of total effects nuclear power supply had a positive relationship with SMP while nuclear capacity had a negative relationship with SMP. There is a unidirectional Granger causality from nuclear power supply to SMP while the reverse was not. Nuclear power is closely related to SMP and provides useful information for decision making.

• The Research Journal of the Costume Culture
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• v.26 no.2
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• pp.251-263
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• 2018

As mobile shopping has increased in the new media age, fashion consumers' decision making and product consumption processes have changed. The volume of consumer-driven information has expanded since media and social networking sites have enabled consumers to share information they obtain. The purpose of this study was to determine the factors affecting information searching strategies and information sharing about fashion products. An online survey collected data from 466 respondents, relating to the influence of product price level and consumer SNS commitment level on information search and information sharing. Experimental design of three product price level and two consumer SNS commitment level was used. Analysis of the data identified factors in fashion information searching as ongoing searching, prepurchase web portal information search, and prepurchase marketing information search. For low-price fashion products, prepurchase product-detail influenced intention to share information. For mid-priced products, ongoing search significantly affected intention to share information. Both ongoing search and prepurchase marketing information search showed significant effects for high-price products. Consumers who are more committed to SNS engaged in significantly more searching in all aspects of information search factors. Significant interaction effect was detected for consumer SNS commitment level and product price level. When consumers with low consumer SNS commitment search for information on lower-priced fashion products, they are less likely do a prepurchase web portal information search.

• Journal of Korea Society of Digital Industry and Information Management
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• v.15 no.4
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• pp.173-187
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• 2019

Based on the theory of planning behavior, the purpose of this study was to validate the path to consumers organic bakery product purchasing process, and moderating effect of price sensitivity. The improvement of national income and changes in diet due to economic growth began to increase consumption of organic and eco-friendly farm products, and thus products using organic materials began to be released in bakeries. Thus, it was necessary to understand consumer awareness and purchasing processes for organic bakery products. Specifically, the study examined the structural relations among purchase reasons, purchase motives, and purchase behavioral intention of organic bakery products. A survey was conducted in May 2019 from adults who had experience purchasing organic bakery products in Seoul metropolitan area, and 327 responses were used for data analysis. The findings of the study showed that consumers' interests in health, food safety, and environment had positive effects on their attitudes, subjective norm, and perceived behavioral control toward organic bakery products, while their interests in organic products did not have an effect on perceived behavioral control. There were significant differences in the purchasing process of organic bakery products according to their price sensitivity. The study suggests that the correct delivery of information on organic ingredients and the price policies available to many consumers will contribute to the revitalization of organic bakery products.

• Journal of Korea Port Economic Association
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• v.27 no.4
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• pp.129-143
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• 2011

Korean Shipbuilding industry takes 33.1% of world market. This shows that Korea is number 1 in shipbuilding. Also, this means the shipbuilding industry plays a significant role in national economic development. This Study attempts to analyse the national economic impacts of shipbuilding industry using an inter-industry analysis. The study investigates demand-driven model and the Leontief price model. Specifically, this study investigates production-inducing effect, value added-inducing effect and employ-inducing effect. Also, we estimate the sectoral price effect. The result of this analyses are presented: 0.7891 won in production-inducing effect, 0.3742 won in value added-inducing effect. When 1 won is produced by shipbuilding industry, 3.7808 persons in employ-inducing effect when 1 billion won is produced, and sectoral price effect is 0.0009% due to the 10% increase of price.

• International Area Studies Review
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• v.21 no.4
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• pp.141-158
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• 2017

The purpose of this study is to firstly estimate the inflation rate of North Korea using relative purchasing power parity. Most of the existing studies use North Korean rice prices as proxy to explain changes in North Korean prices. In this study, North Korea's price was estimated by applying purchasing power parity, which was used to estimate the price of socialist countries in the past, to North Korea. Second, it analyzes the impact of North Korea's price inflation after the institutional change of currency reform. We looked at the movements of North Korean prices after the institutional change of currency reform and compared it with the post-monetary reform of other socialist countries. We examine the impact of currency reform on North Korea, focusing on the price. As a result, after the currency reform in 2009, North Korea experienced hyperinflation. The North Korean inflation rate in the model was 3,010.0% in 2010, 195.0% in 2011, 68.0% in 2012 and 48.3% in 2013. After the currency reform of North Korea, the inflation rate is much higher than the socialist countries such as China and Vietnam who had experienced currency reform before. North Korea's monetary reforms are considered to have failed because of the side effects of hyperinflation.

• Korea Real Estate Review
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• v.27 no.3
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• pp.41-50
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• 2017

Previous studies, especially that by Lee (2014), showed how time series volatility models can be applied to the house price series. As the regional housing market trends, however, have shown significant differences of late, analysis with national data may have limited practical implications. This study applied volatility models in analyzing and forecasting regional house prices. The estimation of the AR(1)-ARCH(1), AR(1)-GARCH(1,1), and AR(1)-EGARCH(1,1,1) models confirmed the ARCH and/or GARCH effects in the regional house price series. The RMSEs of out-of-sample forecasts were then compared to identify the best-fitting model for each region. The monthly rates of house price changes in the second half of 2017 were then presented as an example of how the results of this study can be applied in practice.

• The Journal of Fisheries Business Administration
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• v.53 no.2
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• pp.21-41
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• 2022

The effect of change in exchange rates on an economy is very important, especially, to a small open economy like South Korea. I explore whether Free Trade Agreements (FTAs) have positive influences on exchange rate-pass through import price of import market for fishery products in South Korea. Competition among FTA partners is enhanced after FTAs are effective. I expect that the extent to which are exchange rate pass-through (hereafter, ERPT) into import price of fishery products (in terms of Korea currency) would be reduced since the import market for fishery products in South Korea is an oligopolistic market. Specifically, I investigate two research questions with six South Korea's FTA partners-Norway, Thailand, Peru, U.S., China and Vietnam. First, whether the extent to which are exchange rate pass-through into import price of fishery products from six FTA partners would decrase in the post-FTA era; seconds, the size of reduction has a negative relation with the size of their market share in the import market for fishery products in South Korea if it decreases. The empirical results indicate that the degree of ERPT into import price from other FTA partners than Norway has been reduced after FTA, statistically and significantly; however, I do not find the evidence that the size of reduction is related to their market share. The findings in this study imply that FTAs have negative effects on producers' economic welfare in South Korea's fishery industry by reducing the extent to which are exchange rate pass-through as well as reducing tariff barriers.

• Asia-Pacific Journal of Business
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• v.14 no.2
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• pp.51-61
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• 2023

Purpose - Since COVID-19, the government's expansion of liquidity to stimulate the economy has resulted in an increase in private debt and an increase in asset prices of such as real estate and stocks. The recent sharp rise of the US Federal fund rate and tapering by the Fed have led to a fast rise in domestic interest rates, putting a heavy burden on the Korean economy, where the level of household debt is very high. Excessive household debt might have negative effects on the economy, such as shrinking consumption, economic recession, and deepening economic inequality. Therefore, now more than ever, it is necessary to identify the causes of the increase in household debt. Design/methodology/approach - Main methodology is regression analysis. Dependent variable is household loans from depository institutions. Independent variables are consumer price index, unemployment rate, household loan interest rate, housing sales price index, and composite stock price index. The sample periods are from 2017 to May 2022, comprising 72 months of data. The comparative analysis period before and after COVID-19 is from January 2017 to December 2019 for the pre-COVID-19 period, and from Jan 2020 to December 2022 for the post-COVID-19 period. Findings - Looking at the results of the regression analysis for the entire period, it was found that increases in the consumer price index, unemployment rate, and household loan interest rates decrease household loans, while increases in the housing sales price index increase household loans. Research implications or Originality - Household loans of depository institutions are mainly made up of high-credit and high-income borrowers with good repayment ability, so the risk of the financial system is low. As household loans are closely linked to the real estate market, the risk of household loan defaults may increase if real estate prices fall sharply.