• Journal of the Korea Institute of Building Construction
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• v.24 no.2
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• pp.273-284
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• 2024

This study investigates the impact of international oil price fluctuations on overseas construction orders secured by domestic and foreign companies. The analysis employs statistical data spanning the past 20 years, encompassing international oil prices, overseas construction orders from domestic firms, and new overseas construction orders from the top 250 global construction companies. The correlation between these variables is assessed using correlation coefficients(R), determination coefficients(R²), and p-values. The results indicate a strong positive correlation between international oil prices and overseas construction orders. The correlation coefficient between domestic overseas construction orders and oil prices is found to be 0.8 or higher, signifying a significant influence. Similarly, a high correlation coefficient of 0.76 is observed between oil prices and new orders from leading global construction companies. Further analysis reveals a particularly strong correlation between oil prices and overseas construction orders in Asia and the Middle East, potentially due to the prevalence of oil-related projects in these regions. Additionally, a high correlation is observed between oil prices and orders for industrial facilities compared to architectural projects. This suggests an increase in plant construction volumes driven by fluctuations in oil prices. Based on these findings, the study proposes an entry strategy for navigating oil price volatility and maintaining competitiveness in the overseas construction market. Key recommendations include diversifying project locations and supplier bases; utilizing hedging techniques for exchange rate risk management, adapting to local infrastructure and market conditions, establishing local partnerships and securing skilled local labor, implementing technological innovations and digitization at construction sites to enhance productivity and cost reduction The insights gained from this study, coupled with the proposed overseas expansion strategies, offer valuable guidance for mitigating risks in the global construction market and fostering resilience in response to international oil price fluctuations. This approach is expected to strengthen the competitiveness of domestic and foreign construction firms seeking success in the international arena.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.18 no.9
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• pp.146-156
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• 2017

In this study, the causal relationship between the main factors influencing the import of agricultural products and the changes in agricultural imports was investigated. In addition, we compared the magnitude of the impact of each factor on the changes in agricultural imports. It was found that the import liberalization rate, which represents the FTA factors and reflects the per capita GDP, the conditions of supply and demand of agricultural products in exporting countries and the changes in exchange rates, affects the changes of the agricultural products imports. However, the factors affecting the change of the imports by agricultural product category and the magnitude of the influence by each factor were different. This shows that various factors, other than the FTA factors, are compounding the changes in the agricultural imports. In the future, the market openings due to the implementation of the FTA will be further enlarged and the economic territory of the FTA will be further expanded, due to the implementation of additional FTAs, and the changes in the imports of agricultural products will cause damage to the domestic agricultural sector.

• Korean Journal of Construction Engineering and Management
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• v.2 no.2 s.6
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• pp.68-80
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• 2001

While opportunities for international construction firms have been growing with globalization, the risk of international construction projects is significantly increasing in severity and complexity. However, the traditional risk management approach in the construction industry has maintained a profit focus. In addition, this approach has not considered the overall risk at the corporate level, but rather has focused only on the risk of individuals at the project level. Corporate risk management should be implemented from the initial stages of new project selection. This paper suggests the Multi-criteria Integrated Systematic Analysis as a strategic decision-making tool for international construction contractors. The model integrates the multi-criteria of risk, return, and efficiency to choose the optimal set of new portfolios at the corporate level. This model also introduces the Value at Risk (VaR) concept to the international construction industry to present the total risk at the corporate level. To validate this model, this paper tested an experimental case study using the historical data of a global general contractor.

• Management & Information Systems Review
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• v.37 no.2
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• pp.87-108
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• 2018

This article explores the international trade flow of Bangladesh's ready-made garments (RMG). We first suggest the brief history and an international structure of trade among countries by using the trade volume. Then we implemented a gravity model regression with the sample of 38 major partner countries in order to investigate the potential export market for the RMG industry. The fixed effect and random effect model for the panel data during the period of 1990 to 2011 are estimated. Our result shows that Bangladesh's RMG exports are affected positively by the size of economy, inflation, exchange rate, foreign direct investment(FDI) and trade openness. On the other hand, the distance between trading partners are related negatively with the trade volume. We used the estimated coefficients from the panel regression in order to predict RMG export potential of Bangladesh. This might show which country is the promising export market for Bangladesh RMG industry. We found that Bangladesh has the highest potential of RMG export with Japan and USA, which seem to have considerable room for export growth if trade barriers and constraints are removed. We added some policy implications for encouraging the RMG export of Bangladesh by using the results from the analysis.

• Journal of the Korea institute for structural maintenance and inspection
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• v.22 no.1
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• pp.64-71
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• 2018

Project Management Institute of America separates the types of risk with external risks and internal risks. The external risk is an uncontrollable risk in projects such as changes of policy and related systems, climate, natural disasters, exchange rates and so on. The internal risk is an existing risk in the project itself that is controllable items in the project. Technical risks in project management are cost, quality, time, safety and environment. Therefore, both the external and internal risks should be managed to perform the construction project successfully. In particular, we can secure the quality and safety of facilities through the technical risk management. The importance of potential risk management has been emerging as a major interest and the lack of risk management delays projects and increases construction costs with negative effects of the building safety since the complex building, which is composed of a great number of facilities, consists of many project units and there are conflicts between various participants and stake-holders. This study presents the ways of establishing risk management processes to ensure the safety of the complex building. To that end, establishing procedure of risk management processes is presented and types of risk and factors in construction projects and counter strategies are presented as available risk information on the stages.

• International Area Studies Review
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• v.15 no.2
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• pp.247-273
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• 2011

This study analyzes the impacts on the M&A and greenfield of macroeconomic variables of home and host countries, after identifying current status and characteristics of the M&A and greenfield related to the entering way of Korean firms in China. Main empirical results are summarize as follows. First, as for foreign exchange variable, the decreased value of Korea won shows the negative correlations with both of the greenfield and M&A. Second, the real interest rate of Korea to measure the cost of capital is not significant statistically. Third, while the host country's stock market index, Shanghai Comprehensive Index, shows the expected negative correlations with the investment in the case of small & medium firm and light industry, it shows the positive correlations which is not consistent with general expectation in the case of large firm and heavy industry. Fourth, the openness of host country shows the positive correlations with both of the greenfield and M&A. Finally, in regard to the M&A, China's GDP to measure the market size of host country is not significant statistically while it shows the strong positive relationship with the greenfield investment.

• Journal of Popular Narrative
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• v.25 no.4
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• pp.289-319
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• 2019

Kim Chan-sam's 『世界一周無錢旅行記』 was released in 1962. This was a time when the general public was strongly restricted from traveling abroad. Most of the people lived in 'domestic'. Low development and political upheaval continued. The readership wanted a fantasy, which came out of a desire to escape from the peninsula. So was to become more popular around the popular characters called 'Kim Chan-sam'. Kim Chan-sam had to be a pushover to the public. This figure had to be secular and de-politicized. Above all, ideological bias had to be removed. The book's imaginary geography is the "world as a non-communist state" with a high purity. The Cold War ideology was prevalent throughout South Korean society. Kim Chan-sam knew exactly what he could and could not tell the South Korean reader. He couldn't tell you the reality of my readers not being able to travel abroad. Not to mention a society locked up 'domestic' on the Korean reality. The study analyzes Kim Chan-sam's storytelling strategy. Looking at the meaning of the travel fantasy,agenre of the 1960s, I would like to ask why travel writing in our time is still bound by its past limitations.

• Economic Analysis
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• v.25 no.2
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• pp.54-95
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• 2019

The purpose of this study is to analyze quantitatively and qualitatively the effects of the increase in online shopping and its effects on real-world commercial outlets. The empirical analysis of this study is based on the results of "Census on Establishments" and "Online Shopping Survey" that cover 15 years, from 2002 to 2016. According to the results of this study, the increase in the number of online transactions affects the decrease in the number of stores in the real-world retail sector. However, non-specialized large stores and chain convenience stores showed an increase in the number of stores. In addition, the number of F&B stores increased the most in line with the increase in online transactions. This is because the increase in online transactions and in internet users led to the use of more delivery applications and the introduction of popular places on blogs or through social media. Street-level rents for medium and large-sized locations increased. In other words, it is seen that the demand for differentiated real-world stores that provide a good user experience increases, even though online transactions also increase. These results suggest that real-world stores should provide good user experiences in their physical locations with a certain size and assortment of goods.

• Neonatal Medicine
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• v.18 no.2
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• pp.320-327
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• 2011

Purpose: To determine the effect of changing practice guidelines designed to avoid hyperoxia or hypoxia in very low birth weight or very preterm infants. Methods: We analyzed a database of <1,500 g birth weight or <32 weeks of gestation infants who were born and admitted to the neonatal intensive care unit of Chungnam National University Hospital from January 2007 to July 2010. First, we defined the relationship between arterial partial pressure of oxygen ($PaO_2$) and pulse oxygen saturation ($SpO_2$). When we evaluated 96 pairs of $PaO_2$ and $SpO_2$ measurements, oxygen saturation was 90-94% at a $PaO_2$ of 43-79 mmHg on the oxyhemoglobin dissociation curve, according to pulse oximetry. Based on this observation, a change in practice was instituted in August 2008 with the objective of avoiding hypoxia and hyperoxia in preterm infants with targeting a $SpO_2$ 90-94% (period II). Before the change in practice, high alarms for $SpO_2$ were set at 100% and low alarms at 95% (period I). Results: Sixty-eight infants the met enrollment criteria and 38 (56%) were born during period II, after the change in $SpO_2$ targets. Demographic characteristics, except gender, were similar between the infants born in both periods. After correcting for the effect of confounding factors, the rates for mortality, severe retinopathy of prematurity, and IVH attended to be lower than those for infants in period II. No difference in the rate of patent ductus arteriosus needed to treat was observed. Conclusion: A change in the practice guidelines aimed at avoiding low oxygen saturation and hyperoxia did not increase neonatal complication rates and showed promising results, suggesting decreased mortality and improvements in short term morbidity. It is still unclear what range of oxygen saturation is appropriate for very preterm infants but the more careful saturation targeting guideline should be considered to prevent hypoxemic events and hyperoxia.

• Journal of Korea Port Economic Association
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• v.36 no.4
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• pp.17-30
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• 2020

In the shipping industry, it is essential to engage in the preemptive prediction of freight rate volatility through market monitoring. Considering that freight rates have already started to fall, the loss of shipping companies will soon be uncontrollable. Therefore, in this study, factors affecting the freight rates of bulk carriers, which have relatively large freight rate volatility as compared to container freight rates, were quantified and analyzed. In doing so, we intended to contribute to future shipping market monitoring. We performed an analysis using a vector error correction model and estimated the influence of six independent variables on the charter rates of bulk carriers by Handy Size, Supramax, Panamax, and Cape Size. The six independent variables included the bulk carrier fleet volume, iron ore traffic volume, ribo interest rate, bunker oil price, and Euro-Dollar exchange rate. The dependent variables were handy size (32,000 DWT) spot charter rates, Supramax 6 T/C average charter rates, Pana Max (75,000 DWT) spot charter, and Cape Size (170,000 DWT) spot charter. The study examined charter rates by size of bulk carriers, which was different from studies on existing specific types of ships or fares in oil tankers and chemical carriers other than bulk carriers. Findings revealed that influencing factors differed for each ship size. The Libo interest rate had a significant effect on all four ship types, and the iron ore traffic volume had a significant effect on three ship types. The Ribo rate showed a negative (-) relationship with Handy Size, Supramax, Panamax, and Cape Size. Iron ore traffic influenced three types of linearity, except for Panamax. The size of shipping companies differed depending on their characteristics. These findings are expected to contribute to the establishment of a management strategy for shipping companies by analyzing the factors influencing changes in the freight rates of charterers, which have a profound effect on the management performance of shipping companies.