• Korea Trade Review
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• v.44 no.1
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• pp.75-86
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• 2019

This study performs a factor analysis that affects the bunker oil price using the Co-integration model and Vector Error Correction Model (VECM). For this purpose, we use data from Clarkson and the analysis results show 17.6% decrease in bunker oil price when the amount of crude oil production increases at 1.0%, 10.3% increase in bunker oil price when the seaborne trade volume increases at 1.0%, 1.0% decrease in bunker oil price when total volume of vessels increases at 1.0%, and 0.003% increase in bunker oil price when 1.0% increase in world GDP, respectively. This study is meaningful in that this study estimates the speed of convergence to long-term equilibrium and identifies the price adjust mechanism which naturally exists in bunker oil market. And it is expected that the future study can provide statistically more meaningful econometric results if it can obtain data during more long-periods and use more various kinds of explanatory variables.

• Journal of the Korean Society of Food Culture
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• v.21 no.4
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• pp.414-419
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• 2006

The purpose of this study was to measure the factor influencing tourist preferences for leaf mustard iimchi. Among 250 questionnaires, 230 questionnaires were utilized for the analysis. Frequencies, conjoint model, max. utility model, BTL model, Logit model, K-means cluster analysis, and one-way ANOVA analysis were used for this study. The findings from this study were as follows. First, the Pearson's R and Kendall's tau statistics showed that the model fitted the data well. Second, it was found that total respondents and three clusters regarded taste and price as the very important factor. Third, it was found that the first cluster most preferred product with light red color, plain package, and mild taste sold at a cheap price in factory. The second cluster most preferred product with light red color, plain package, and moderately pungent taste sold at a expensive price in factory. The third cluster most preferred product with dark red color, shaped package, and highly pungent taste sold at a cheap price in factory. Fourth, it was found that the first cluster most preferred simulation product with light red color, shaped package, and mild taste sold at a cheap price in factory. The second cluster most preferred simulation product with light red color, shaped package, and moderately pungent taste sold at a cheap price in factory. The third clutter most preferred simulation product with dark red color, shaped package, and highly pungent taste sold at a cheap price in factory.

• Land and Housing Review
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• v.10 no.4
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• pp.13-30
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• 2019

Parking lot within housing site contains public interest of relieving parking space shortage problem and subject to public restriction. If auctioned off at higher price by excessive competition in general competitive bid for land bidders, the development of parking lot will be made against its original purpose supply. The core issue is that a bid price is quite often to be blown out of proportion by 150%~ 250% due to extreme competition and, could face serious problem if a winning bidder runs sale business. If it is rental business, although about 30% of the total floor space of the whole building to be used as neighborhood facilities, too high winning bid price cause to lose transparency. In case of sale at aggregate buildings, most business operators would sell 30% of the neighborhood facilities, spare the parking lot and manages thereof separately. According to Aggregate Buildings Act, neighborhood facilities are allowed for individual registration and ownership of parking lot by business operator or designated person by business operator. In this case, the parking lot becomes 70% of the total floor space of the whole building and 70% of the land share which makes the mortgage very valuable and easier for business operator to get financial loan. There used to be many cases such as owners of neighborhood facilities (aggregate buildings partial owners) who run parking lot to repay their loan running parking lot to repay loan, but found that very tough and reached auction and relatively disadvantaged. For parking lot within housing site, it is recommend to exclude the public factors that land has and take into account of public restriction in area (housing site). Business opportunity for operators and protection of property rights for buyers in aggregate buildings, land supply method is recommended to replace from highest bid method into draw or private contract. In terms of price, supply at estimated price (construction price) and restriction on usage (Co-ownership of parking lot) proposals are submitted.

• Proceedings of the Safety Management and Science Conference
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• 2009.04a
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• pp.455-475
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• 2009

According to the returns of Housing and business cycle over the period 1992 to 2007, it is a measure of the total volatility faced by investors in Housing properties. First, it isn't a distinct difference from business cycle contrary to U.S. Second, the rise of purchase price in total apartments moves up the consumer price index. According to the cross-sectional dispersion of returns and growth in net operating income (NOI) of apartments, industrial, retail and office properties using panel data for U.S. metropolitan areas over the period 1986 to 2002, it is a measure of the total volatility faced by investors in commercial real estate. To the extent that most of that volatility is difficult to diversify, cross-sectional dispersion may be an appropriate measure of risk.

• Korean Journal of Agricultural Science
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• v.25 no.1
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• pp.41-51
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• 1998

This study not only carried out to grasp about the sununarized characteristics of the relationship between international timber market and production trend of wood products, but also focused on the analysis of korean wood demand and the long-term forecast with econometric analysis. The result of regression analysis for wood demand in Korea is that coniferous roundwood demand(CIWD) is explained by coniferous foreign roundwood price(CWRI), Gross domestic product(GDP), a dummy variable. Non-coniferous roundwood demand(NCIWD)is explained by non-coniferous roundwood price(NCWRI), coniferous roundwood price(CWRI), a dummy variable. As the result of long-term forecast by base case, the total roundwood demand was forecasted $11,107,000m^3$ in the year 2000, $11,781,000m^3$ in 2005, $12,565,000m^3$ in 2010. As the result of scenario 1, total roundwood demand was forecasted $11,027,000m^3$ in 2000, $11,435,000m^3$ in 2005, $11,952,000m^3$ in 2010. And as the result by scenario 2, total roundwood demand was forecasted $11,341,000m^3$ in 2000, $12,208,000m^3$ in 2005 $13,257,000m^3$ in 2010.

• Korean Journal of Community Nutrition
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• v.11 no.2
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• pp.253-260
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• 2006

The purpose of this study was to suggest menu pricing strategy based on understanding about customer perceived value of products and services. The technique known as PSM (Price Sensitivity Measurement) was used for analysis of price sensitivity for 3 menu items of a family restaurant in Seoul. A questionnaire was developed through literature review and modified after pilot test. Questionnaires for the main survey were distributed to 250 customers on their visit to the restaurant, and a total of 138 questionnaires were used for analysis (55.2%). The statistical analysis of price sensitivity was conducted using PSM, and descriptive analyses were conducted using SPSS Win (12.0). The main results of this study were as follows: the price sensitivity of beef tenderloin steak was higher than two other menus and the stress range of teriyaki chicken was almost 0, that is, the price sensitivity of teriyaki chicken was very low. Present menu prices of 3 menu items were within the range of acceptable prices, but had some distances from the optimal pricing point. From the result of this study, it was concluded that price adjustment or price promotion strategy would be effective for increase in sales of beef tenderloin steak, and marketing strategies to enhance consumers' perceptions of value should be conducted for all menu items by situations. Overall, PSM technique could be a helpful tool for researchers and managers of foodservice organizations to understand how consumers' perceptions of value are affected by the interaction of price and quality.

• Korean Journal of Construction Engineering and Management
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• v.11 no.2
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• pp.35-44
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• 2010

Currently, the unit price of public construction projects are not being evaluated appropriately for several reasons. First, the evaluation of the unit price differ per nature of the bidding process and its estimation process. In fact, pricing is determined to meet the total price in turnkey projects and to pass the low bid price deliberation process in unit price projects, and thus, such prices cannot be said to be reasonable prices per public project. After the contract is awarded, however, the prices determined without taking into consideration the characteristic of each bidding process and price estimate process are used for the valuation of progress payment, design changes, and escalation. Furthermore, this is also being applied to other low bid deliberation process as actual public project unit price, thereby affecting other processes as well. In effect, this system increases the risks for both the owner and the bidder who have determined the unit price. This research examines the risk factor and its extent in order to properly manage it in preparation for the future.

• Journal of Korean Society of Forest Science
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• v.54 no.1
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• pp.41-48
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• 1981

The income and price elasticities of the timber demand for the 27 years (1953~79) in Korea were analyzed by the 3 economic growth stages - in 1953~61, in 1962~71, in 1972~79-. The results obtained are as follows : 1. In 1953~79, the income and price elasticities of the total timber demand were respectively 1.87 and -0.47 ; those of the domestic timber demand were respectively 0.09 and -0.30 ; those of the foreign timber demand were respectively 2.50 and -0.11. 2. In 1953~61, the income and price elasticities of the total timber demand were respectively 2.11 and -0.86 ; those of the domestic timber demand were respectively -2.94 and -0.57 ; those of the foreign timber demand were respectively 1.20 and 0.43. 3. In 1962~71, the income and price elasticities of the total timber demand were respectively 2.89 and -0.20 ; those of the domestic timber demand were respectively 1.38 and -0.25 ; those of the foreign timber demand were respectively 3.54 and -0.42. 4. In 1972~79, the income and price elasticities of the total timber demand were respectively 1.07 and 0.17 ; those of the domestic timber demand were respectively 1.12 and 0.12 ; those of the foreign timber demand were respectively 1.22 and 0.17.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.17 no.4
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• pp.373-381
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• 2016

To investigate the influence of hand cream of domestic and foreign brands on the purchase tendency, a survey was conducted on hand cream application, purchase tendency, and perception of 105 women in a metropolitan area. Market research was then conducted to compare the hand cream cost, quantity, and total substance, and the hand creams were sorted according to high-price and low-price, and foreign brand and domestic brand, and a clinical demonstration was conducted by back-hand application on 17 recipients to analyze the moisture and skin oil differences and the moisture endurance. As a result, the percentage of subjects who perceived that the price and brand of hand cream affects the quality was higher than those who did not, and the hand cream prize per 1mg (g) varied as much as fourfold among the high-price and low-price, and among foreign and domestic brands. The result of the total substance comparison, glycerin the moisturizer and cetearyl alcohol the skin conditioner were included in all hand creams. As a result of the clinical demonstration, the difference in moisture and skin oil difference and moisture endurance between the high-price and low-price and foreign brand did not show a statistically significant difference. These results show that there are no relationships between skin moisture and sebeum of the brand. Therefore, considering that hand cream is a highly consumptive product that is used multiple times on a daily basis, these results might provide fundamental data that could contribute to the increase in hand cream product quality by determining the consumers' needs.

• Culinary science and hospitality research
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• v.9 no.2
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• pp.148-175
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• 2003

As mentioned above, Korean restaurant's menu price is to be decided by combining various factors. Korean restaurant is demanded to decide menu price more carefully than other restaurants do, because the number of Korean restaurant is the largest in Korea and Korean food is the most popular among the Korean people. Korean restaurant cannot neglect price competitiveness and is often given complaints from its customers. Because of such management difficulties, the number of Korean restaurant has recently decreased at special class hotels as well as common hotels. Korean restaurant managers are demanded to make efforts to inherit Korean tradition and culture by keeping pride and responsibility. Until now, Korean restaurants are thought to decide the menu prices in short-sighted, non-scientific and haphazard way of thinking. Such price decision factors have established traditions and have been generally accepted to let Korean restaurant managers lose carefulness at the menu price decision. In advanced countries, however, they recognized the importance of the price decision since the 1960's or earlier to research the menu price systematically and scientifically. Before deciding the menu prices, Korean restaurant managers are demanded to investigate various kinds of factors carefully and spend a lot of time to calculate direct costs, that is, one of the most important factors of cost calculations. The managers are demanded to decide the menu prices in reasonable and future-oriented way by keeping not private thinking but correct information and judgment. The sale of each menu has difference, while the menu price increase has been evaluated to be successful from overall point of view. Despite of increased total sale, there was not much difference of net profit because of increased material costs. However, higher level of the customers produced comfortable and cozy atmosphere of the restaurant enough to satisfy customers, and improved service quality much more. Not only customer satisfaction but also improved service quality is thought to play an important role in invitation of future customers.