• International Area Studies Review
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• v.21 no.4
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• pp.3-17
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• 2017

The purpose of the paper is to suggest the empirical evidences for the effects of factor prices on the export performance in the Korean manufacturing industries during the period 1975:1-2016:4. The paper is to set up the error correction model derived from the autoregressive distributed lag scheme and to estimate the factor price elasticities of export in the 8 manufacturing industries. The real wage, interest and import price index elasticities of export all were estimated to be statistically significant at 1% level in the most industries with showing negative signs as expected. And the real wage elasticity proved to likely be smaller as the industries become more capital-intensive while the import price index elasticity tended to become larger in industries with larger ratio of imported intermediate goods to output. The empirical results suggest that the declines in input factor prices since the foreign exchange crisis in the end of 1997 have positive effects on the export performance in the Korean manufacturing industries.

• The Journal of the Korea Contents Association
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• v.20 no.12
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• pp.103-111
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• 2020

This article selected a feature film (1993) of Ken Loach who is widely known as 'Socialist Realism Film' director and attempted to explore the thesis of everyday (life) and alienation in daily space. To this end, major theories related to everyday life, dailiness, social space, daily space, alienation, and especially Henri Lefevre's discussions were used as the theoretical background and research methodology. According to the results, director Ken Loach presents the possibility of transformation of everyday life by criticizing the ills of capitalism that occur in public social spaces such as vacant lots and parking lots in and private daily spaces such as homes. It also emphasizes the reality that the alienation of the working class, which has no choice but to be exposed 'stone rain', is taken for granted and the paradox that the alienation from such reality can be achieved in everyday life. These research findings can be said to mean that the social space of everyday life is the basis for changing the dailiness of everyday life.

• The Korean Journal of Financial Management
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• v.20 no.2
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• pp.151-180
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• 2003

We examine the interdependence of the major Asia-Pacific stock markets including S&P 500, FTSE 100, Kualar Lumpur Composite, Straits Times, Hang Seng, NIKKEI 225 and KOSPI 200 from October 4, 1995 to March 31,2000. The analysis employs the vector-auto-regression, Granger causality, impulse response function and variance decomposition using daily returns on the national stock market indices. The findings in this paper indicate that the volatilities of all countries has grown after IMF crisis, while there is no significance in cointegration test of both total period and sub-periods. This result implies that investors are able to get abnormal returns by investment diversification according to the portfolio theory. We find that while the effect from NIKKEI 225 to others is relatively weak, the interdependence from S&P 500 to other countries is strong. Also we find that the strong effect from Straits Times to Hang Seng exists. This study suggests that there is slight feedback relation between KOSPI 200 and Kualar Lumpur Composite, Straits Times, Hang Seng stock market.

• The Korean Journal of Financial Management
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• v.20 no.2
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• pp.181-200
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• 2003

Comovement of international stock market prices has been lately a major controversy in the global stock market. This paper explores whether the common trend has really existed among the US, Japan and Korea's stock markets using the econometric techniques such as VAR, VECM as applied. Pair of indices from the exchange market and the over-the-counter market in each country has been tested, and the exchange market only has been turned out that the common trend existed. The dynamic analyses using the Granger causality test, impulse response function, and the forecast error decomposition have followed to show that the US stock market has played some important role in the Korea and Japan's market in the exchange as well as in the OTC market. The results of the paper imply that the more careful investigation with respect to the co-integration may be necessary in the global market integration studies.

• Archives of design research
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• v.17 no.4
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• pp.375-384
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• 2004

The general tendency of approach to Korean Design History has been focusing its primary interest on the grand story in relation to the problems of modernization in political, economical and social aspects of Korea. In the discourse of modernization, however, there are two sides immanent in the modernization: there is the formal, institutional and authoritative modernization developed inside the capitalistic mode of production and the informal, individual and cultural modernization manifested in the mode of everyday lives. Especially, despite the viewpoint of the latter being embossed as an alternative approach in various areas including the academic world of history since the collapse of socialism, the historical recognition of the phenomena of modern design by the Korean design historians is more like the 'history from the above' that exists at the level of the discourse outside the reality rather than the 'history from the below' that exists within the ordinary life. To grant a sense of balance in such frame of historical understanding, it requires the restructuring the design history of Korea through the cultural perspectives from having the representation of mundane lives realized by the voluntary design activity of the common people as research subjects. One of the methods to acquire an answer to such problem is decoding, in the manner of 'cultural history', the life-long domestic artifact made by Madame Yang, Gap Jo (currently 87 years of age) who is a model of typical Korean mother. Through the historical rumination on the traces of unpretentious lives of the people that has been buried under the grand narrative of the Korean Design History, a new era aimed for the historical prospect of Korean design as cultural history will be possible by excavating the petit yet multi-layered meaning of Korean designs.

• Journal of the Economic Geographical Society of Korea
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• v.16 no.3
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• pp.423-444
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• 2013

Tourism in Thoi Son Islet has been the advanced model for rural tourism in the Mekong Delta region since the 1990s. The continuously rising number of tourists, however, has also created problems that affect sustainable rural development. To understand these problems, this research analyzed how rural tourism has been operated through the methodology of a stakeholder network. After investigating the network among key stakeholders (Ho Chi Minh travel agencies (HCMTAs), local travel agencies (LTAs), and local residents, the result showed that in the current model, HCMTAs and LTAs have played the role of connectors, working as hubs to shift tourists (demand) to match local residents (supply), with the networking being dominated by signed contracts (formal networks). The networks between LTAs and local residents are both formal and informal. Inter- and intra-networks among local residents are dominated by informal networks of established working relationships based on networks of family, friends, and neighbors. Moreover, this research has found that there is no cooperating network among LTAs. Among owners of tourist sites was not also found cooperating network. The primary motivating factor for these stakeholders is price competition; this has led to a disproportionately small share of revenue for local stakeholders, with most tourism revenue going to HCMTAs. Additionally, because of the high competition among local stakeholders, this results in local stakeholders having little or no negotiating power when conducting business with HCMTAs. Meanwhile the Tien Giang Tourism Association is inefficient in fostering cooperation among local stakeholders to increase their negotiating power.

• KDI Journal of Economic Policy
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• v.28 no.1
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• pp.145-191
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• 2006

This paper studies implications of financial conglomeration for both financial risk of individual conglomerates and systemic risk potential in post-crisis Korea. Our analyses suggest that we cannot conclude that financial conglomerates are taking on higher risks relative to non-conglomerate independent institutions. We also find that larger financial institutions show a significantly higher profitability and lower variability in profitability operating on a superior efficient frontier. However, it turns out that the consolidation has raised systemic risk potential as direct and indirect interdependencies among large banking institutions have substantially increased. Furthermore, financial conglomerates have become more vulnerable to contagion risks from non-bank sectors and capital markets. In the face of the shifting risk structure, financial supervisory and regulatory systems must be upgraded toward a more risk-based, consolidated supervision. Prompt corrective action provision for financial conglomerates must be based upon fully consolidated group risks, and effective supervisory devices need to be introduced to avoid inadvertent extension of public safety net to cross-sectoral activities of financial conglomerates. It is also critical to strengthen internal control and risk management capacities at financial conglomerates, and to establish strong market discipline by improving information transparency and monitoring incentives in the financial market.

• Journal of the Korean association of regional geographers
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• v.22 no.2
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• pp.307-330
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• 2016

This article aims to explain how Gangnam, as a model and standard of compressed urbanization in South Korea, was created. Gangnam and Gangnam-style urbanization need attention not only because they contrast with Korea's urbanization in the past as well as urbanization in the West but also they provide an important model in contemporary Korea's politics, economy and culture. However, there are little studies of how Gangnam's peculiar urbanism was created. To fill this gap, this article will first capture Gangnam's peculiar urbanism as a material landscape and sociocultural lifestyle. Gangnam-style urbanism is (a) materially characterized by high-rise apartment complexes owned by the middle and upper class for dwelling and asset growth and (b) socio-culturally characterized by political conservatism, public indifference, competition over academic performance, appearance, and fashion, and nightlife. Then it will show Gangnam's archetype was created in a spatially and temporally compressed way in and through the spatial selectivity of Korean anti-communist authoritarian developmental state strategies: (1) anti-communism led to the diffusion and accommodation of the population through apartments in Gangnam in the context of its confrontation with North Korea and the fast-growing population of Seoul; (2) military authoritarianism excluded the low-income class and the urban poor from urban development; and (3) the developmental state adopted selective housing policy which treated construction companies and the middle class preferentially through exceptional zoning and price distortions, promoting the construction of apartment in Gangnam and its resultant uneven development.

• The Southeast Asian review
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• v.28 no.1
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• pp.145-171
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• 2018

Laos' 2017 is a year of political "stagnation" and economic "change". In the political arena, despite the achievements such as the improvement of the corruption perception index (CPI), it is necessary to watch the progress of the reform. Diplomatically, the influence of China is expected to increase further. In particular, since November 2017, Xi Jinping's visit to Laos is expected to strengthen the framework of cooperation between the economic corridor and Lanchang-Mekong Cooperation Meeting. And Laos continued to have friendly relations with other neighboring countries, the ASEAN countries. However, the issue of the Laos-Cambodian border issue following the general election in Cambodia may recur. The economic sector maintained a high growth rate due to capital inflows from the construction of large infrastructures and the favorable tourism industry, but structural problems such as deficits in the fiscal and current account should be resolved. Korea and Laos discussed the comprehensive cooperation between the two countries through the Mekong Senior Officials' Meeting in March 2017 and the Ministerial Meeting of the Korean-Lao Foreign Minister in September 2017. Laos is Korea's eighth ODA aid (grant), and ODA will become an important diplomatic cooperation channel between the two countries in the future. In the economic relationship, the trade sector is on a declining trend, but investment and human exchanges are steadily increasing.

• Korean Association of Arts Management
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• no.54
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• pp.5-31
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• 2020

This study has started from the political process of local community power structure to elaborate the reason why both a majority of cultural artists and cultural artist organizations want to be against establishing the local Foundation for Arts and Culture. The cultural artists and cultural artist organizations believe that the establishment of the local Foundation for Arts and Culture might threaten not only their monopolistic status or their livelihood in the local market relying on public supports, but also make them being marginalized from the potential supports. Therefore many of them have somewhat unfavourable opinions about its establishment. Drawing from the Jellabuk-do case, their concern of being isolated from the monopoly by the local Foundation for Arts and Culture are reduced to publicized discourses such as powerization, the lack of expertise, the loss of independence, and the fall of business. When constructing the Foundation for Arts and Culture, the major values are 'Pluralism' and 'Fairness'. On one hand, the terms of Fairness means that it should be fair in operations, support and executive composition. On the other hand, Pluralism means that policy-making rights should be distributed to various groups, not owned by some specific groups. Some plans for building Foundation for Arts and Culture are needed to make diverse classes and groups to expect the pluralistic interests emerged eventually.