• Korea Trade Review
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• v.46 no.6
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• pp.73-92
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• 2021

Small and medium-sized enterprises (SMEs) account for a large proportion of the total number of enterprises in many countries. The development of SMEs has contributed to job creation and economic benefits. Every government has formulated active diversification strategies to promote the export market of SMEs, but the performance of export capabilities remains insufficient. The primary purpose of this study is to examine the effectiveness of export credit insurance in promoting SME export performance in Canada. Using data from 2008-2017, the augmented Dickey-Fuller (ADF) model to test the stationarity of the concerned variables and the error correction model (ECM) and autoregressive distributed lag (ARDL) cointegration test to empirically investigate the cointegration relationship between the research targets. The results represent the positive and critical impact of export relative price and domestic demand pressure on Canada's export performance, and the negative impact of the export volume index at a significant level. Regrettably, the impact of export credit insurance on the export performance of Canadian SMEs is considered exaggerated overall. In view of this result, it is necessary for the Canadian government to enact policies based on the current market status. And enhance confidence among SMEs to begin exports and diversify their markets rather than focusing only on the domestic or US market, especially given the impact of COVID-19. From the case of Canada, Korean government can attempt to learn from them to conduct more efficient strategies for SMEs.

• Journal of the Korean Society of Marine Environment & Safety
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• v.29 no.7
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• pp.915-929
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• 2023

Improvements in people's quality of life, diversification of leisure activities, and changes in population structure have led to an increase in the demand for tourism and an expansion of the diversification of tourism activities. In particular, for coastal cities where land and marine tourism elements coexist, various factors influence their tourism demands. Tourism requires the construction of infrastructure and content development according to the demand at the tourist destination. This study aims to improve the prediction accuracy and explore influencing factors through time series analysis of tourism scale using agent-based data. Basic local governments in the Busan area were examined, and the data used were the number of tourists and the amount of tourism consumption on a monthly basis. The univariate time series analysis, which is a deterministic model, was used along with the SARIMAX analysis to identify the influencing factor. The tourism consumption propensity, focusing on the consumption amount according to business types and the amount of mentions on SNS, was set as the influencing factor. The difference in accuracy (RMSE standard) between the time series models that did and did not consider COVID-19 was found to be very wide, ranging from 1.8 times to 32.7 times by region. Additionally, considering the influencing factor, the tourism consumption business type and SNS trends were found to significantly impact the number of tourists and the amount of tourism consumption. Therefore, to predict future demand, external influences as well as the tourists' consumption tendencies and interests in terms of local tourism must be considered. This study aimed to predict future tourism demand in a coastal city such as Busan and identify factors affecting tourism scale, thereby contributing to policy decision-making to prepare tourism demand in consideration of government tourism policies and tourism trends.

• KDI Journal of Economic Policy
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• v.13 no.4
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• pp.91-116
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• 1991

Market liberalization progressing simultaneously with high and rapidly rising domestic wages has created an adverse business environment for domestic firms. Korean firms are losing their international competitiveness in comparison to firms from LDC(Less Developed Countries) in low-tech industries. In high-tech industries, domestic firms without government protection (which is impossible due to the liberalization policy and the current international status of the Korean economy) are in a disadvantaged position relative to firms from advanced countries. This paper examines the division of roles between the private sector and the government in order to achieve a successful structural adjustment, which has become the impending industrial policy issue caused by high domestic wages, on the one hand, and the opening of domestic markets, on the other. The micro foundation of the economy-wide structural adjustment is actually the restructuring of business portfolios at the firm level. The firm-level business restructuring means that firms in low-value-added businesses or with declining market niches establish new major businesses in higher value-added segments or growing market niches. The adjustment of the business structure at the firm level can only be accomplished by accumulating firm-specific managerial assets necessary to establish a new business structure. This can be done through learning-by-doing in the whole system of management, including research and development, manufacturing, and marketing. Therefore, the voluntary cooperation among the people in the company is essential for making the cost of the learning process lower than that at the competing companies. Hence, firms that attempt to restructure their major businesses need to induce corporate-wide participation through innovations in organization and management, encourage innovative corporate culture, and maintain cooperative labor unions. Policy discussions on structural adjustments usually regard firms as a black box behind a few macro variables. But in reality, firm activities are not flows of materials but relationships among human resources. The growth potential of companies are embodied in the human resources of the firm; the balance of interest among stockholders, managers, and workers of the company' brings the accumulation of the company's core competencies. Therefore, policymakers and economists shoud change their old concept of the firm as a technological black box which produces a marketable commodities. Firms should be regarded as coalitions of interest groups such as stockholders, managers, and workers. Consequently the discussion on the structural adjustment both at the macroeconomic level and the firm level should be based on this new paradigm of understanding firms. The government's role in reducing the cost of structural adjustment and supporting should the creation of new industries emphasize the following: First, government must promote the competition in domestic markets by revising laws related to antitrust policy, bankruptcy, and the promotion of small and medium-sized companies. General consensus on the limitations of government intervention and the merit of deregulation should be sought among policymakers and people in the business world. In the age of internationalization, nation-specific competitive advantages cannot be exclusively in favor of domestic firms. The international competitiveness of a domestic firm derives from the firm-specific core competencies which can be accumulated by internal investment and organization of the firm. Second, government must build up a solid infrastructure of production factors including capital, technology, manpower, and information. Structural adjustment often entails bankruptcies and partial waste of resources. However, it is desirable for the government not to try to sustain marginal businesses, but to support the diversification or restructuring of businesses by assisting in factor creation. Institutional support for venture businesses needs to be improved, especially in the financing system since many investment projects in venture businesses are highly risky, even though they are very promising. The proportion of low-value added production processes and declining industries should be reduced by promoting foreign direct investment and factory automation. Moreover, one cannot over-emphasize the importance of future-oriented labor policies to be based on the new paradigm of understanding firm activities. The old laws and instititutions related to labor unions need to be reformed. Third, government must improve the regimes related to money, banking, and the tax system to change business practices dependent on government protection or undesirable in view of the evolution of the Korean economy as a whole. To prevent rational business decisions from contradicting to the interest of the economy as a whole, government should influence the business environment, not the business itself.

• The Journal of Fisheries Business Administration
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• v.44 no.3
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• pp.15-28
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• 2013

Abalone aquaculture has developed very rapidly in Korea. Until the mid 1990s it has annually produced about 100 tons. Since then the yield has increased to about 9,000 tons in 2012. The amount accounts for 20% of the global abalone yield. About 86% of produced abalone is consumed domestically and the rest is exported. 100 tons for export seemed as an unattainable goal back in 2003. However, the export rose up to 1,333 tons in 2012. Despite its rapid growth, Korean abalone industry is faced with some problems. The first is the slowdown of yield increase rates. Abalone production increased by 50~60% until the mid 2000. However, the rate continued to drop to below 10%. Reasons behind the slow increase are deteriorating aquaculture grounds and worsening market problems. Constant aquaculture aggravated productivity and overcrowded facilities at a limited space made matters worse. Moreover, abalone export has stalled and so did domestic consumption. In the meantime, rising mortality of young abalone has lowered productivity at abalone breeding places. The mortality rates of abalone remained below 5% in the early 2000s but rose to 30~40% these days. This translates into rising abalone prices. The market problems imply stagnant or shrinking export as well as domestic consumption. The export increase rates took a nosedive from 200 to below 50 between the early 2000s and the late 2000s. Moreover, the increase rates of domestic consumption have become remarkably sluggish. According to, it stood at 50~60% in the mid 2000s but continued to decrease after 2008. These problems, in turn, affected the size of abalone. The usual abalone size for market was 10~12 shells per kg, but recently the size became smaller and smaller to 15~16 shells per kg. The change of size implies shift in consumption patterns: Consumers not only eat live abalone but also they cook soup with it. The size of abalone for uncooked dish is usually very big, like 10~12 shells per kg. In contrast, smaller abalone, such as 20~25 shells per kg, are used for making soup. Increasing use of smaller abalone leads to lower income of abalone aquaculture households. This is partly because that the size determines the price and the price gap between big abalones and smaller ones is extreme in Korea. For the sustainable growth of Korean abalone industry, we need to come up with strategies. First, a reasonable production system needs to be in place, especially for better management of abalone aquaculture grounds. Management of abalone licenses is also necessary because local governments issue relevant licenses as well as supervising abalone grounds. Second, abalone export destination need to be diversified. Japan, the major importer of Korean abalone, takes up a lion's share of export, at 95%. Third, new consumption style of abalone needs to be developed. Abalone used to be consumed as 'raw type' or Sashimi in Korea. This sole type of consumption hampers the growth of abalone market. Moreover, more strategies are needed to encourage and distribute home cooking of abalone rather than eating-out at restaurants. Last but not least, distribution system should be improved for better delivery of live abalone.

• Korean Business Review
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• v.12
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• pp.209-237
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• 1999

With the increasing speed of internationalization of corporations under WTO system foreign direct investment is considered as the important means of international cooperation as well as avoiding trade barrier. From this point of view the study on foreign direct investment of Korean corporations is of great importance. Many studies till now, however, are concerned with the macroscopic analysis of foreign direct investment of Korean corporations, not with the establishment of strategy appropriate to the environment of host country and the investment performance. In order to meet the problems mentioned above this thesis aims at accomplishing the following three tasks. (1) synthetic assessment of existing theories of foreign direct investment. (2) systematic adjustment of factors of environment in the foreign direct investment activities. (3) analysis of above factors in the foreign direct investment of Korean textile industry and proper proposal of strategic model for the individual corporation. The results of analysis according to the aim of the study are as follows: (1) To lead foreign direct investment successfully, variable and effective information-presentation should be offered with priority. (2) The investment strategy through regional diversification is required. (3) The localization of decision making has to be attempted assertively. (4) The global network system is needed for more recommendable foreign direct investment. (5) More aggressive and outgoing attitude like developing into the local market and obtaining the high-technology is desperately needed.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.19 no.8
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• pp.246-253
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• 2018

The main industries in Chungcheongbuk-do are the smart IT parts; bio-health; and transportation machinery, materials and parts. The transportation, machinery, materials and parts (TMMP) industry is a key source technology for environmentally friendly and intelligent vehicles related to future vehicles in the machinery sector. Business support projects to improve this industry are currently underway. In this study, the number of enterprises, number of employees, amount of shipment, and added value of the enterprises in Chungbuk area were analyzed for the downstream and rear industries of the transportation, machinery, materials, and parts industry to set targets and directions for the technical support projects during the enterprise support. In particular, for the SMEs with less than 50 employees, the changes in the value added per enterprise were analyzed according to the period from the year of foundation. In the case of the rear industry, the value added by companies within three years after foundation has decreased gradually each year, so technical support is needed at the beginning of the startup. Companies between the ages of five and nine years are showing a fluctuating trend each year. Therefore, it is necessary to support business diversification or find new items.

• The Journal of Society for e-Business Studies
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• v.12 no.4
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• pp.37-51
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• 2007

As the highly improved Internet and information technology has led to the diversification of users' demands, personalization service attract lots of attention as a means to meet highly diversified demand of users. However, personalization service costs a lot. Also concerns over a possible violation of privacy have been raised since the service uses technology to find out the users' profiles. This research studies the advantages individuals acquire from personalization service and how privacy concern influences service acceptance. Research on related documents and information gathering from e-commerce sites derived six representative types of service. Questionnaires were utilized to research privacy concern according to services, service usefulness, and service acceptance. As expected, privacy concern has a negative relation to acceptance while service usefulness has a positive relation to it, thereby resulting in an offset between two variables. Moreover, they play a different role depending on what kinds of service or in formation should be provided. The results derived from this paper will help the e-commerce sites provide personalization service by collecting personal information while protecting users' privacy.

• The Journal of Fisheries Business Administration
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• v.18 no.1
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• pp.37-57
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• 1987

This article discussed the characteristics of several Pareto-optimal incentive contracts between owner and labor, more specifically, four situations: reporting output jointly observable by labor ana owner; reporting both output and effort; incorporating other endogenous elements (like capital) that affect the production process and Pareto-optimal fee schedules; and ascertaining the effects of private pre-decision information private- decision information, and per-contact informational asymmetries. Also presented were several extensions of the basic contractual model, and the different components of agency costs associated with labor-owner contractual relations. In a single-period model, the agency problem exists because the uncertainty prevents the owner from using the cash flow to determine unambiguously the labor's action. Holmstrom(1979) suggests that "when the same situation repeats itself over time, the effects of uncertainty tend to be reduced and dystunctional behavior is more accurately revealed, thus alleviating the problem of moral hazard. " Under these conditions, if the labor selects the first-best level of effect in each period, the cash flow will be independent and identically distributed over time. As the number of periods increases, the variance of the labows average output, if he selects the first-best level of effort in each period, gets smaller. Note that for this diversification effect to occur, it is necessary that the owner evaluate the labor's effort over the entire history of his employment, rather than evaluate each period's performance separately. Radner(1980) and Rubinstein and Yaari(1980) consider the extreme case in which there are an infinite number of observations. They show that the owner can eventually detect and systematic shirking on the part of the labor by comparing the labor's average output with what would be expected if the labor had been selecting the first-best level of effort in each period. In a dynamic model with incentive problems we have demonstrated that the labor's second-period compensation will depend on his first-period performance. This allows the owner to diversify away some of the uncertainty surrounding the labor's actions. In addition, this allows the owner to smooth the labor's income over time by spreading the risk of the first-period outcome over both periods. At least some unexplored avenves in this area invite future accounting research: situations where owner has different incompatible objectives and negotiates a contract with labor; circumstances in which owner deals with multiple objectives and negotiates contracts with several labors simultaneously; the value of costly accounting information systems and communication in establishing, Pareto-optimal incentive contracts, and the value and effects of inside information, Thorough theoretical or empirical research on each of these topics not only would increase our knowledge about the role and significance of accounting information but could also provide explanations of the inherent differences among various organizations and in their economic behavior. behavior.

• Archives of design research
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• v.14 no.2
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• pp.117-126
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• 2001

Dietary life is said to be consummated even to a phase of art from phase of survival, recognition, selection and preference. Dietary life, from a sheer earing, is now transforming itself into a joy, and therefore, function of foodstuff packaging demand diversification rather than a simple packaging. Recently, socio-economic environment is showing conspicuous changes in that there are increasing number of working couples nuclear family, old-age population, social activity and improvement of living standards. Such a change in the living environment has much impact on our dietary life. Particularly, an age when cake and cookies of western origin were all but strange is gradually phasing out, while it is deemed to be improper to overlook the fact that bread and cakes are solidifying their position as part of foodstuff meanies for on dietary life. Of cakes and cookies, cakes have come to enjoy a position whereby they are regarded as part of an imperative for family banquets, various get-together and birthday celebration, etc., with a significant improvement that caters to our taste vis-a-vis an stage of introduction of cakes. At the time when reined foreign bakeries, one after another , are contemplating to make an inroad into Korea, and when the distribution market is to be opened fully in July of 1993, Korea bakeries that have been building up their position within the domestic market are expected to face a considerable number of difficulties. Accordingly, under such circumstances of the time text we are in it is attempted in this study to map out measures that may contribute to the strengthening of the products of business enterprises and improvement of corporate image that may appeal to feeling and emotions of consumers packaging that could attain objectives, and package design planning that, as an important factor for playing its own share in the restoration of humanism that is being alienated, may appeal to consumer sensitivity, rather than packaging that is being utilized merely as tool designed for marketing

• Journal of Korean Society of Rural Planning
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• v.19 no.4
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• pp.81-93
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• 2013

The selection of land for fishing village development project, and the standard used to classify fishing villages has been determined based on the guidelines developed by fishing village cooperatives. The approach fishing village cooperatives follows is likely to classify fishing villages without first reflecting on the overall development environment of the region, such as other industries and workers in the area. It also acts as a barrier for business promotion or evaluation, because the cooperatives do not match the administrative districts, which are the units of administration, and the main policy enforcement agent in regional development. Against this background, this study aimed to identify categories to situate the development direction, as well as the size and distribution of fishing villages based on eup, myeon, and dong administrative units as defined by the Fishing Villages and Fishery Harbors Act. This study was based on the Census of Agriculture, Forestry, and Fisheries of 2010, and analyzed 826 eups, myeon, and dongs with fishery households using the principal component analysis, and 2-Step cluster analysis methods. Therefore, 95% of the variance was explained using the covariance matrix for types of fishing villages, but it was analyzed as one component focusing on the number and ratio of fishery households, and used the cluster-type analysis, which focused on the sizes of fishing villages. The clusters were categorized into three types: (1) the development type based on the number of fishermen in the eups, myeons and dongs was analyzed as village size (682); (2) administrative district size (121); and (3) total eups, myeons and dongs (23), which revealed that the size of most fishing villages was small. We could explain 73% of the variance using the correlation coefficient matrix, which was divided into three types according to the three principal component scores, namely fishery household power, fishery industry power, and fishing village tourism power. Most fishing villages did not have a clear development direction because all business areas within the region were diversified, and 552 regions could be categorized under the harmonious development type, which is in need of balanced development. The fishery industry type typified by industrial strength included 159 regions in need of an approach based on industrialization of fishery product processing. Specialized production areas, which specialized in producing fishery products, were 115 regions with a high percentage of fishermen. The analysis results indicated that various situations in terms of size and development of fishing villages existed. However, because several regions exist in the form of small village units, it was necessary to approach the project in a manner that directed the diversification of regional development projects, such as places for local residents to relax or enjoy tourism experiences within the region, while considering the overall conditions of the relevant eups, myeons, and dongs. Reinforcement of individual support for fishermen based on the Fisheries Act must take precedence over providing support for fishermen through regional development. In addition, it is necessary to approach the development of fishing villages by focusing on industrializing the processing techniques of fishery products. Areas specialized in the production of fishery products are required to consider the facilities for fisheries production, and must make efforts to increase fishery resources, such as releasing fry.