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Minimum Wage and Productivity: Analysis of Manufacturing Industry in Korea (최저임금과 생산성: 우리나라 제조업의 사례)

  • Kim, Kyoo Il;Ryuk, Seung Whan
    • Economic Analysis
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    • v.26 no.1
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    • pp.1-33
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    • 2020
  • Recent discussions about a minimum wage increase (MWI) and its influence on the economy have mainly focused on the quantitative aspects, such as labor costs and employment. However, concerning the qualitative aspects, an MWI could have positive effects by enhancing firm productivity and crowding out marginal firms from the market. These positive effects of an MWI can offset, to some extent, its potential negative effects - increasing labor costs and decreasing employment, among others. In this regard we empirically examine the impact of an MWI on firm productivity (total factor productivity). Using firm level panel data from the manufacturing industry in Korea, we calculate the influence rates of a minimum wage by sector and by firm size (number of workers), and analyze its effects on firm productivity. In particular, the production functions of the firms are estimated by taking into account endogeneity among the input factors, in order to resolve the drawbacks of existing studies - underestimating the capital factor coefficient and overestimating the labor factor coefficient. This study finds that the influences of an MWI on wages, employment, and productivity are substantially different across sectors and firm sizes. While an MWI has shown to have positive influences on productivity growth in the manufacturing industry as a whole, each sector demonstrates a different direction of effect, and the degree of productivity change also varies by sector. The impacts of an MWI on firm productivity are generally estimated to be more negative for smaller firms, but in some sectors the effects are found to be positive. In addition, the wage increases resulting from an MWI seem to cause a productivity enhancement across all sectors in the manufacturing industry. The policy implications of this study are as follows. Considering the empirical findings that an MWI causes an increase in productivity in many sectors of the manufacturing industry, it would be desirable to take into consideration not only the negative side effects but also the positive effects of an MWI when designing any future minimum wage policy. Moreover, in spite of there being a uniform minimum wage, this study finds that the diverse influence rates of a minimum wage across firms have different impacts on wages, employment, and productivity across sectors or firm size. This finding could be conducive to discussions about differentiation among minimum wage schemes by sector or firm size.

Estimation on the Consumption Patterns and Consciousness of Domestic Forage in Korean Native Cattle Farmers (한우 농가 대상 국내산 조사료 이용실태 및 농가 의식조사)

  • Lee, Se Young;Cheon, Dong Won;Park, Hyung Soo;Choi, Ki Choon;Yang, Seung Hak;Lee, Bae Hun;Lee, Byeong U;Jung, Jeong Sung
    • Journal of The Korean Society of Grassland and Forage Science
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    • v.42 no.1
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    • pp.17-25
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    • 2022
  • This study was carried out the estimation on consumption patterns and consciousness of domestic forage for improvement of the quality of domestic forage. Although the cultivated area in South Korea of forage has increased significantly compared to the past, the self-sufficiency rate of domestic forage has increased to around 80% since 2010. Also, livestock farmers prefer to use import forage than domestic due to convenience of use. In Korean beef farms, the ratio of import to domestic forage was higher in domestic forage (import forage 3 : domestic forage 7). In the method of securing domestic forage, purchase of forage (55.6%) was higher than self-cultivation of forage (44.4%). The ratio of use by bailing type was shown in the order of rice staw rice straw (50.5%), domestic hay (15%), imported hay (12.5%), and total mixed ratio (10.7%). The preference of forage was in the order of amount of foreign matter, moisture content, price, feed value in Korean native cattle farm. The result of satisfaction with domestic and import forage showed that the satisfaction of domestic forage price was higher than import forage, while the moisture content and foreign matter of forage were lower than import forage. In addition, in the results of the satisfaction and importance of domestic roughage compared to imported roughage, satisfaction with imported roughage was generally high in all items except for price. As a result, in order to improve the satisfaction of domestic forage in Korean native cattle farm, it is necessary to minimize foreign matter in forage and increase hay production for moisture content uniform in forage.

A Study on the Bapyo Ritual Procedures and Costumes Recorded in the Five rituals of Sejong-Silok (『세종실록(世宗實錄)』, 「오례(五禮)」에 기록된 배표의 절차와 복식 연구)

  • KIM Jinhong;CHO Woohyun
    • Korean Journal of Heritage: History & Science
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    • v.56 no.1
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    • pp.142-160
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    • 2023
  • The position of the people who participated in the Bapyo Ritual held in the reign of King Sejong and the corresponding costumes were examined. The king, who was the executive body of the ritual, wore Myeon-Bok, a court dress, and Myeon-Bok was Gujang-Bok made of Jang-wha on Guryu-Pyeongcheongwan. Crown princes, royal families, and government officials wore Oryang-Gwan and Jekraeui, which were Jobok. The crown princes' Joboks were changed from Oryang-Gwan to Wukryang-Gwan in the dynasty year 10 of King Sejong, and in the year of King Munjong's accession, Myeon-Bok was received, and after King Danjong, the crown princes wore Palryu-Pyeongcheongwan and Chiljang-Bok. Diplomats and Jongsagwan who were the envoys wore Sangbok. A Sangbok worn by the diplomat was Samo with Danryeong, Seo-Dae, and Hyeopgeum-Hwa, and a Sangbok worn by Jongsagwan was Samo, Danryeong, Heukgak-Dae, and Heukpi-Hwa. Byulgam, who served as an attendant to the king in the king's close quarters, wore Gongbok and Sangbok. Gongbok consisted of Ja-Geon, Danryeong and Heukpi-Hwa, and Sangbok consisted of orange color Cho-Rip, Jikryeong, Joa, and Heukpi-Hwa. The person holding San, Gae , Sujeongjang, and Geumwolbu wore Ja-Geon and Cheong-Ui, and Seon wore Pimoja and Hong-Ui. Siwigun wore armor and helmets equipped with weapons. Among court musicians, Aksa's costumes consisted of Bokdu, Bigongbok, Geumdonghyeokdae, Bibaekdaedae, and Opiri, and Aksaeng's one composed of Gaechaek, Bisuransam, Hyupgo, Mal, Maldae, and Opiri. As a result of the above, the process of ceremonial clothes becoming uniform clothes in the reign of King Sejong was confirmed. The king and lower-ranking officials such as crown princes, government officials, diplomats, Byulgam, armies for ceremonial weaponry, and court musicians participating in the Bapyo Ritual wore the highest grade of ceremonial clothes for each class. King Sejong had repeated discussions to build a nation based on Confucianism, and arranged each rite and corresponding costume, and the Bapyo Ritual costume was also systematically prepared for each position. The ceremonial clothing organized during the reign of King Sejong was regulated in Yejon and became the basis for continuing to the late Joseon Dynasty.

Analysis on Topokki Franchise Industry and Its Proactive Activities: Focused on Kukdae Toppokki (떡볶이 프랜차이즈 산업의 분석과 그에 따른 선제적 대응 방안: 국대떡볶이를 중심으로)

  • Chi, I hyun;Han, Kyu won;Choi, Yae jin;Son, Jeong Sook;Kim, Ji-Hern
    • The Korean Journal of Franchise Management
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    • v.5 no.1
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    • pp.27-47
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    • 2014
  • This research was conducted on the purpose of seeking the measures of how to cope with the changing industry of Topokki franchises. Despite of the fact the number of Kukdae Topokki's stores is quite smaller than that of its competitors, such as Jaws Topokki and Addal Topokki, Kukdae Topokki is recognized as one of the front-runners in the industry. But the competition in the topokki industry has become fiercer, as the market became saturated. To find a desirable solutions, this study analyzes past-to-current status of the Topokki industry by dividing it into 4 stages and provides few strategies that Kukdae Topokki can apply to the 4th stage where 'brand awareness' is very important. To this end, few drawbacks of Kukdae Topokki are proposed as the following. First, the brand image that Kukdae Topokki pursue does not correspondent with the image in consumer's mind. Second, Kukdae Topokki has selected the wrong targeting group. It aims for the image of 'retro' to target people in their 30-40s. However, most of the consumers are people in their 20-30s. Third, the taste of Kukdae Topokki is not uniform among franchises. Fourth, the awareness and accessability are low. To provide a proactive actions for the next stages, several solutions are proposed as following. First, By managing consistent Kukdae Topokki's Brand Touch point, consumers may have a strong image on the brand by communicating with consumers consistently at all touch points. Second, instead of the existing guide from the head office(franchiser), a standardized criteria for the usage of materials and periodical education for franchisee are needed. Third, to raise the awareness of Kukdae Topokki, open many branches in the area where the main consumers(20-30s women) are mostly spread out.

Exploring the Role of Preference Heterogeneity and Causal Attribution in Online Ratings Dynamics

  • Chu, Wujin;Roh, Minjung
    • Asia Marketing Journal
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    • v.15 no.4
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    • pp.61-101
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    • 2014
  • This study investigates when and how disagreements in online customer ratings prompt more favorable product evaluations. Among the three metrics of volume, valence, and variance that feature in the research on online customer ratings, volume and valence have exhibited consistently positive patterns in their effects on product sales or evaluations (e.g., Dellarocas, Zhang, and Awad 2007; Liu 2006). Ratings variance, or the degree of disagreement among reviewers, however, has shown rather mixed results, with some studies reporting positive effects on product sales (e.g., Clement, Proppe, and Rott 2007) while others finding negative effects on product evaluations (e.g., Zhu and Zhang 2010). This study aims to resolve these contradictory findings by introducing preference heterogeneity as a possible moderator and causal attribution as a mediator to account for the moderating effect. The main proposition of this study is that when preference heterogeneity is perceived as high, a disagreement in ratings is attributed more to reviewers' different preferences than to unreliable product quality, which in turn prompts better quality evaluations of a product. Because disagreements mostly result from differences in reviewers' tastes or the low reliability of a product's quality (Mizerski 1982; Sen and Lerman 2007), a greater level of attribution to reviewer tastes can mitigate the negative effect of disagreement on product evaluations. Specifically, if consumers infer that reviewers' heterogeneous preferences result in subjectively different experiences and thereby highly diverse ratings, they would not disregard the overall quality of a product. However, if consumers infer that reviewers' preferences are quite homogeneous and thus the low reliability of the product quality contributes to such disagreements, they would discount the overall product quality. Therefore, consumers would respond more favorably to disagreements in ratings when preference heterogeneity is perceived as high rather than low. This study furthermore extends this prediction to the various levels of average ratings. The heuristicsystematic processing model so far indicates that the engagement in effortful systematic processing occurs only when sufficient motivation is present (Hann et al. 2007; Maheswaran and Chaiken 1991; Martin and Davies 1998). One of the key factors affecting this motivation is the aspiration level of the decision maker. Only under conditions that meet or exceed his aspiration level does he tend to engage in systematic processing (Patzelt and Shepherd 2008; Stephanous and Sage 1987). Therefore, systematic causal attribution processing regarding ratings variance is likely more activated when the average rating is high enough to meet the aspiration level than when it is too low to meet it. Considering that the interaction between ratings variance and preference heterogeneity occurs through the mediation of causal attribution, this greater activation of causal attribution in high versus low average ratings would lead to more pronounced interaction between ratings variance and preference heterogeneity in high versus low average ratings. Overall, this study proposes that the interaction between ratings variance and preference heterogeneity is more pronounced when the average rating is high as compared to when it is low. Two laboratory studies lend support to these predictions. Study 1 reveals that participants exposed to a high-preference heterogeneity book title (i.e., a novel) attributed disagreement in ratings more to reviewers' tastes, and thereby more favorably evaluated books with such ratings, compared to those exposed to a low-preference heterogeneity title (i.e., an English listening practice book). Study 2 then extended these findings to the various levels of average ratings and found that this greater preference for disagreement options under high preference heterogeneity is more pronounced when the average rating is high compared to when it is low. This study makes an important theoretical contribution to the online customer ratings literature by showing that preference heterogeneity serves as a key moderator of the effect of ratings variance on product evaluations and that causal attribution acts as a mediator of this moderation effect. A more comprehensive picture of the interplay among ratings variance, preference heterogeneity, and average ratings is also provided by revealing that the interaction between ratings variance and preference heterogeneity varies as a function of the average rating. In addition, this work provides some significant managerial implications for marketers in terms of how they manage word of mouth. Because a lack of consensus creates some uncertainty and anxiety over the given information, consumers experience a psychological burden regarding their choice of a product when ratings show disagreement. The results of this study offer a way to address this problem. By explicitly clarifying that there are many more differences in tastes among reviewers than expected, marketers can allow consumers to speculate that differing tastes of reviewers rather than an uncertain or poor product quality contribute to such conflicts in ratings. Thus, when fierce disagreements are observed in the WOM arena, marketers are advised to communicate to consumers that diverse, rather than uniform, tastes govern reviews and evaluations of products.

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Comparison of NDVI in Rice Paddy according to the Resolution of Optical Satellite Images (광학위성영상의 해상도에 따른 논지역의 정규식생지수 비교)

  • Jeong Eun;Sun-Hwa Kim;Jee-Eun Min
    • Korean Journal of Remote Sensing
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    • v.39 no.6_1
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    • pp.1321-1330
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    • 2023
  • Normalized Difference Vegetation Index (NDVI) is the most widely used remote sensing data in the agricultural field and is currently provided by most optical satellites. In particular, as high-resolution optical satellite images become available, the selection of optimal optical satellite images according to agricultural applications has become a very important issue. In this study, we aim to define the most optimal optical satellite image when monitoring NDVI in rice fields in Korea and derive the resolution-related requirements necessary for this. For this purpose, we compared and analyzed the spatial distribution and time series patterns of the Dangjin rice paddy in Korea from 2019 to 2022 using NDVI images from MOD13, Landsat-8, Sentinel-2A/B, and PlanetScope satellites, which are widely used around the world. Each data is provided with a spatial resolution of 3 m to 250 m and various periods, and the area of the spectral band used to calculate NDVI also has slight differences. As a result of the analysis, Landsat-8 showed the lowest NDVI value and had very low spatial variation. In comparison, the MOD13 NDVI image showed similar spatial distribution and time series patterns as the PlanetScope data but was affected by the area surrounding the rice field due to low spatial resolution. Sentinel-2A/B showed relatively low NDVI values due to the wide near-infrared band area, and this feature was especially noticeable in the early stages of growth. PlanetScope's NDVI provides detailed spatial variation and stable time series patterns, but considering its high purchase price, it is considered to be more useful in small field areas than in spatially uniform rice paddy. Accordingly, for rice field areas, 250 m MOD13 NDVI or 10 m Sentinel-2A/B are considered to be the most efficient, but high-resolution satellite images can be used to estimate detailed physical quantities of individual crops.

GOCI-II Based Low Sea Surface Salinity and Hourly Variation by Typhoon Hinnamnor (GOCI-II 기반 저염분수 산출과 태풍 힌남노에 의한 시간별 염분 변화)

  • So-Hyun Kim;Dae-Won Kim;Young-Heon Jo
    • Korean Journal of Remote Sensing
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    • v.39 no.6_2
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    • pp.1605-1613
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    • 2023
  • The physical properties of the ocean interior are determined by temperature and salinity. To observe them, we rely on satellite observations for broad regions of oceans. However, the satellite for salinity measurement, Soil Moisture Active Passive (SMAP), has low temporal and spatial resolutions; thus, more is needed to resolve the fast-changing coastal environment. To overcome these limitations, the algorithm to use the Geostationary Ocean Color Imager-II (GOCI-II) of the Geo-Kompsat-2B (GK-2B) was developed as the inputs for a Multi-layer Perceptron Neural Network (MPNN). The result shows that coefficient of determination (R2), root mean square error (RMSE), and relative root mean square error (RRMSE) between GOCI-II based sea surface salinity (SSS) (GOCI-II SSS) and SMAP was 0.94, 0.58 psu, and 1.87%, respectively. Furthermore, the spatial variation of GOCI-II SSS was also very uniform, with over 0.8 of R2 and less than 1 psu of RMSE. In addition, GOCI-II SSS was also compared with SSS of Ieodo Ocean Research Station (I-ORS), suggesting that the result was slightly low, which was further analyzed for the following reasons. We further illustrated the valuable information of high spatial and temporal variation of GOCI-II SSS to analyze SSS variation by the 11th typhoon, Hinnamnor, in 2022. We used the mean and standard deviation (STD) of one day of GOCI-II SSS, revealing the high spatial and temporal changes. Thus, this study will shed light on the research for monitoring the highly changing marine environment.

Investment Priorities and Weight Differences of Impact Investors (임팩트 투자자의 투자 우선순위와 비중 차이에 관한 연구)

  • Yoo, Sung Ho;Hwangbo, Yun
    • Asia-Pacific Journal of Business Venturing and Entrepreneurship
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    • v.18 no.3
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    • pp.17-32
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    • 2023
  • In recent years, the need for social ventures that aim to grow while solving social problems through the efficiency and effectiveness of commercial organizations in the market has increased, while there is a limit to how much the government and the public can do to solve social problems. Against this background, the number of social venture startups is increasing in the domestic startup ecosystem, and interest in impact investors, which are investors in social ventures, is also increasing. Therefore, this research utilized judgment analysis technology to objectively analyze the validity and weight of judgment information based on the cognitive process and decision-making environment in the investment decision-making of impact investors. We proceeded with the research by constructing three classifications; first, investment priorities at the initial investment stage for financial benefit and return on investment as an investor, second, the political skills of the entrepreneurs (teams) for the social impact and ripple power, and social venture coexistence and solidarity, third, the social mission of a social venture that meets the purpose of an impact investment fund. As a result of this research, first of all, the investment decision-making priorities of impact investors are the expertise of the entrepreneur (team), the potential rate of return when the entrepreneur (team) succeeds, and the social mission of the entrepreneur (team). Second, impact investors do not have a uniform understanding of the investment decision-making factors, and the factors that determine investment decisions are different, and there are differences in the degree of the weighting. Third, among the various investment decision-making factors of impact investment, "entrepreneur's (team's) networking ability", "entrepreneur's (team's) social insight", "entrepreneur's (team's) interpersonal influence" was relatively lower than the other four factors. The practical contribution through this research is to help social ventures understand the investment determinant factors of impact investors in the process of financing, and impact investors can be expected to improve the quality of investment decision-making by referring to the judgment cases and analysis of impact investors. The academic contribution is that it empirically investigated the investment priorities and weighting differences of impact investors.

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A Study on Changes in Habitat Enviroment of Wild Birds in Urban Rivers according to Climate Change - A Case Study of Tancheon Ecological and Landscape Conservation Area - (기후변화에 따른 도시하천의 야생조류 서식환경 변화 연구 - 탄천 생태·경관보전지역를 사례로 -)

  • Han, Jeong-Hyeon;Han, Bong-Ho;Kwak, Jeong-In
    • Journal of the Korean Institute of Landscape Architecture
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    • v.52 no.2
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    • pp.79-95
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    • 2024
  • The purpose of this study was to find the changes in the habitat of wild birds caused by climate change in urban rivers and protected areas that greatly require ecological functions. In the future, this study can be used as a management index to protect the urban river ecosystem and maintain the health of sustainable urban rivers, thereby ensuring biodiversity. The Tancheon Ecological and Landscape Conservation Area, selected as a target site, has been affected by climate change. The four seasons of Korea have a distinct temperate climate, but the average annual temperature in Seoul has risen by 2.4-2.8℃ over the last 40 years. Winter temperatures tended to gradually increase. Precipitation, which was concentrated from June to August, is now changing into localized torrential rain and a uniform precipitation pattern of several months. Climate change causes irregular and unforeseen features. Climate change has been shown to have various effects on urban river ecosystems. The decrease in the area of water surface and sedimentary land impacted river shape change and has led to large-scale terrestrialization. Plants showed disturbance, and the vegetation was simplified. The emergence of national climate change indicator species, the development of foreign herbaceous plants, the change of dry land native herbaceous species, and wet intelligence vegetation were developed. Wild birds appeared in the territory of winter-summer migratory. In addition, species change and the populations of migratory birds also occurred. It was judged that fluctuations in temperature and precipitation and non-predictive characteristics affect the hydrological environment, plant ecology, and wild birds connecting with the river ecosystem. The results of this study were to analyze how climate change affects the habitat of wild birds and to develop a management index for river ecological and landscape conservation areas where environmental and ecological functions in cities operate. This study can serve as a basic study at the level of ecosystem services to improve the health of urban rivers and create a foundation for biodiversity.

Evaluation of the effect of a Position Error of a Customized Si-Bolus Produced using a 3D-Printer: Cervical Cancer Radiation Treatment (3D 프린터를 이용하여 제작한 맞춤형 Si-Bolus의 위치 오차 효과 평가: 자궁경부암 방사선 치료)

  • Seong Pyo Hong;Ji Oh Jeong;Seung Jae Lee;Byung Jin Choi;Chung Mo Kim;Soo Il Jung;Yun Sung Shin
    • The Journal of Korean Society for Radiation Therapy
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    • v.35
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    • pp.7-13
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    • 2023
  • Purpose: In this study, we evaluated the effect of using a customized bolus on dose delivery in the treatment plan when cervical cancer protruded out of the body along with the uterus and evaluated reproducibility in patient set-up. Materials & Methods: The treatment plan used the Eclipse Treatment Planning System (Version 15.5.0, Varian, USA) and the treatment machine was VitalBeam (Varian Medical Systems, USA). The radiotherapy technique used 6 MV energy in the AP/PA direction with 3D-CRT. The prescribed dose is 1.8 Gy/fx and the total dose is 50.4 Gy/28 fx. Semiflex TM31010 (PTW, Germany) was used as the ion chamber, and the dose distribution was analyzed and evaluated by comparing the planned and measured dose according to each position movement and the tumor center dose. The first measurement was performed at the center by applying a customized bolus to the phantom, and the measurement was performed while moving in the range of -2 cm to +2 cm in the X, Y, and Z directions from the center assuming a positional error. It was measured at intervals of 0.5 cm, the Y-axis direction was measured up to ±3 cm, and the situation in which Bolus was set-up incorrectly was also measured. The measured doses were compared based on doses corrected to CT Hounsfield Unit (HU) 240 of silicon instead of the phantom's air cavity. Result: The treatment dose distribution was uniform when the customized bolus was used, and there was no significant difference between the prescribed dose and the actual measured value even when positional errors occurred. It was confirmed that the existing sheet-type bolus is difficult to compensate for irregularly shaped tumors protruding outside the body, but customized Bolus is found to be useful in delivering treatment doses uniformly.

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