• Journal of Korea Trade
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• v.27 no.1
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• pp.192-210
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• 2023

Purpose - Vietnam has the fastest growing digital economy in Southeast Asia and is emerging as a critical overseas market for Korean banks in the post-COVID-19 era. Accordingly, many Korean banks entered the Vietnamese market to overcome the limitations of the saturated domestic financial market and create new revenue sources. This study examined the current status of digital finance in Vietnam and the cases of Korean banks that have succeeded in the Vietnamese market. Then, importance-performance analysis (IPA) was conducted on local customers, managers and staff members of Korean banks in Vietnam. Design/methodology - In this study, we analyzed the importance and satisfaction factors of mobile banking app usage in Vietnam through IPA. In particular, we identified the differences between the two groups by considering the viewpoint of customers who use mobile banking apps and that of managers and staff members who provide mobile banking services. Findings - The IPA results from the customer group and managers and staff members group were generally similar, but differences were observed in Ease of Use (Technology), Innovativeness (Organization), and Increase in Revenue (Economic). In the case of the customer group, Ease of Use (Technology) is located in the second quadrant, which shows low satisfaction compared to high importance. However, in the managers and staff members group, Ease of Use (Technology) is located in the first quadrant, which indicates high importance and high satisfaction. This difference in perception can cause complaints from local customers; thus, it is necessary to change the perception of the technological aspect for ease of use of mobile banking apps in consideration of the customer's position. In addition, it is necessary to allocate the resources invested in the Innovativeness (Organization) and Increase in Revenue (Economic) to Ease of Use (Technology). Originality/value - In this study, based on the HOTE framework, factors for using mobile banking apps were derived, and IPA was conducted targeting local customers (app user) and managers and staff members (app provider) of Korean banks in Vietnam. Through this, we presented the results of empirical analysis that can help Korean banks efficiently utilize limited resources and budgets.

• Asia-Pacific Journal of Business
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• v.14 no.1
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• pp.149-169
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• 2023

Purpose - The main purpose of this study is to develop the stress test model for Korean banks by exploring the optimal Monte Carlo simulation and BIS forecasting model. Design/methodology/approach - This study selects 15 Korean banks as sample financial firms and collects relevant 76 quarterly data for the period between year 2000 and 2018 from KRX(Korea Excange), Bank of Korea, and FnGuide. The Regression analysis, Unit-root test, and Monte Carlo simulation are hired to analyze the data. Findings - First, most of the sample banks failed to keep 8% BIS ratio for the adverse and severely Adverse Scenarios, implying that Korean banks must make every effort to realize better BIS ratios under adverse market conditions. Second, we suggest the better Monte Carlo simulation model for the Korean banks by finding that the more appropriate volatility should be different depending on variables rather than simple two-sigma which has been used in the previous studies. Third, we find that the stepwise regression model is better fitted than simple regression model in forecasting macro-economic variables for the BIS variables. Fourth, we find that, for the more robust and significant statistical results in designing stress tests, Korean banks are required to construct more valid time-series and cross-sectional data-base. Research implications or Originality - The above results all together show that the optimal volatility in designing optimal Monte Carlo simulation varies depending on the country, and many Korean banks fail to pass sress test under the adverse and severely adverse scenarios, implying that Korean banks need to make improvement in the BIS ratio.

• The Journal of Economics, Marketing and Management
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• v.6 no.4
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• pp.17-27
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• 2018

Purpose - As Korea is reaching a post-aged society, the number of chronic illness is increasing, and the demand for rehabilitation medical device is growing. Although there is high potential for the growth in rehabilitation industry, because most of the related companies in Korea are relatively small, lacking capital or R&D resource, it is difficult for them to create an innovative product, and currently most of the high-tech equipments are imported. Therefore a medical device cluster, where business, research, medical institutes and universities may work cooperatively to enhance research development and solve issues is necessary for future development. Research design, data, methodology - In this method we have done a literature review of the rehabilitation industry and industrial cluster. Based on the studies, we have conducted an exploratory factor analysis by studying examples of foreign and domestic medical clusters and drawing success factors in forming a medical cluster. Next based on the studies we have conducted a survey to domestic medical device companies to find their difficulties and needs to form a successful medical device cluster. Results - This paper provides both theoretic review on success factors of forming a medical device cluster and practical analysis using case study and survey. Conclusion - The significance of this paper is that based on the literature review, we have compared actual examples of domestic/foreign medical clusters and drawn difference and coincidence between literature and actual cluster success factor. We were also able to conduct a survey on actual medical device companies and through the results we were able to search difficulties and necessities of medical device companies.

• The Korean Journal of Franchise Management
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• v.14 no.4
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• pp.35-50
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• 2023

Purpose: This study aims to uncover the mechanism of how initial fees are determined in the restaurant franchise business. Since the initial fees can be considered as a price of utilizing business models and operational knowledge of a certain franchise brand, it is critical to understand the fee decision-making process based on the strategic pricing theories. Therefore, this study investigates the influence of operational value on the determination of initial franchise fees grounded on a value-based pricing strategy. The Operational value is specifically categorized into profitability, growth, and stability of the franchise system. Research design, data, and methodology: The data used were collected through franchise disclosure documents and brand equity index provided by Korea Management Association Consulting. Data from 44 franchise restaurants during 2018 to 2021 are included in the sample. The panel dataset was analyzed by using generalized least squares estimation with R-Studio. Results: Profitability and stability positively influence initial franchise fees. However, growth did not influence initial franchise fees. Conclusions: The results of the study demonstrate that the operational value plays a critical role in determining the franchise fees. Specifically, franchisees recognize how much revenue a franchise system generates for them (i.e., profitability) and how stable the entire system is for operating business (i.e., stability) when they make purchasing decisions for franchise. The findings extend the pricing literature by applying pricing theories in the franchise fee context. Also, the study contributes to franchising and restaurant management literature by providing knowledge of how franchise fees are determined.

• Asia-Pacific Journal of Business
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• v.14 no.2
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• pp.85-100
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• 2023

Purpose - The purpose of this study is to identify the factors of shocking events in the career aspect experienced by Korean workers in the context of the Covid-19 pandemic, and to find out whether these career shocks affect individual perceptions of the importance of subjective career success. Design/methodology/approach - In the survey of 146 respondents, the career shock events experienced in the context of the Covid-19 pandemic were largely divided into three categories; 'work change', 'employment anxiety', and 'life anxiety'. For the subjective career success, seven dimensions - 'financial security', 'financial achievement', 'entrepreneurship', 'positive relationship', 'positive impact', 'learning and development', 'work-life balance' - were used. Findings - As a result, there was no difference in the perception of subjective career success due to the experience of 'work change' during the Covid-19 period. However, the respondents who experienced 'employment anxiety' came to recognize that 'financial security' and 'financial achievement' were more increasing in terms of the degree of difference of importance. And respondents who experienced 'lifetime anxiety' perceived that the degree of difference of importance was increasing in the six dimensions except for 'social influence'. Particularly, the increase in the importance of 'work-life balance' and 'positive relationship' was found to be the greatest among the career success dimensions. Research implications or Originality - Finally, it was concluded that changes in the external environment such as Covid-19 pandemic influence as a career shock and affect the level of importance in subjective career success perception. Based on the results, the theoretical implication on current career study and some practical implications for organizational career management were suggested.

• Asia-Pacific Journal of Business
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• v.14 no.2
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• pp.101-118
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• 2023

Purpose - The purpose of this study is to find out how a company can do reasonable cost calculations in a simple way and establish profitability improvement strategies based on the results. Design/methodology/approach - In this study, a case that compounding company K applied TDABC was studied. A case study was conducted on the process of company K reviewing and applying TDABC and the process of implementing the cost calculation for each product by applying TDABC, and establishing a profitability improvement strategy for each product based on the results. Findings - Company K rearranged the production standard information of the compounding industry such as productivity and batch size of each product to apply TDABC. Cost calculation was performed for each product according to the revised production standard information. After the cost calculation for each product was carried out, Company K established a strategy to improve profitability of each product. The profitability improvement strategy was implemented in two ways: a cost reduction strategy and a product price increase strategy. As a result of the final strategy execution, the profitability of each product was improved. Research implications or Originality - This study found a reasonable costing standard in consideration of the specificity of the research target company, and applied it to cost calculation cost for each product. It contains the process of establishing production and sales strategies for each product based on the cost calculation results. It is expected that this case study will serve as a good reference material for establishing cost calculation and profitability improvement strategies in similar businesses.

• Journal of Korean Society of Occupational and Environmental Hygiene
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• v.25 no.4
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• pp.482-492
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• 2015

Objectives: Exposure Assessment for workplace hazards where the exposure level is below occupational exposure limits(OELs) has been performed without considering either the degrees of risk or exposure levels and has failed to lead to intervention in many cases. The objective of this study was to suggest and test an application framework for risk assessment methodology under the current exposure assessment system in Korea. Materials: First, we investigated the exposure assessment systems in Korea and other countries. To adopt some risk assessment techniques, we also analyzed risk assessment systems and compared them to exposure assessment systems. A few suggestions were made. We held a public hearing during an industrial hygiene conference and took surveys using a questionnaire. Results: The first suggestion was to implement the risk assessment and exposure assessment through a "one-stop" system. In that case, one expected question would be who has been doing the jobs so far. In most cases, industrial hygiene consulting services or laboratories have been performing exposure assessment for business owners. Business owners are required to perform risk assessment. As two different groups of people will be required to implement two things in a one-stop system, they need to share information. As an information vehicle to share information, commonly filed survey checklists were suggested. The second suggestion was to categorize exposure level into four groups instead of the current binary divisions based on OELs. In the risk assessment system, exposure level is divided into four groups utilizing the cut-points of 10%, 50%, and 100% of OELs. The same schema can be adopted in the exposure assessment system and different levels of requirements can be assigned for each group. The third suggestion was regarding the regulation system. To provide the suggestions some thrust toward being implemented in the field, changes should be made in the legal system. Two different types of new exposure assessment result reporting forms were suggested. Some investigations such as an ergonomic survey are officially accepted as risk assessment under the current legal system. A few items were suggested to be included in the exposure assessment result reporting to be accepted as risk assessment. A pilot study in two small factories was performed and pointed out the strengths and weakness of our suggestions. Conclusions: Discussions and studies on the improvement of the exposure assessment system have been held for decades and no tangible changes have yet been made. We hope this result can help realize healthy lives for workers in Korea.

• International Commerce and Information Review
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• v.16 no.1
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• pp.91-116
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• 2014

This study reviews the methodology for utilizing information technology by which even non-professionalists in FTAs and commodity classification area can perform the determination of commodity classification, with ease and by themselves, by means of easy utilization of the information on commodity classification and FTAs, of importing and exporting goods. This article examines the technological elements and logics, etc. which simulate the commodity classification for utilizing FTAs. To achieve this, the author has developed the technology to support the determination of commodity classification numbers by accumulating the database of examples for classification after analyzing the classification factors by each commodity item. Utilizing this Commodity Classification Determination Supporting System, users can enjoy effects of education as well as consulting. In this regards, the advantages of this system can be enumerated as followings : Firstly, self-checking on commodity classification can be performed. Secondly, time and cost for classification can be saved. Thirdly, comprehensive competitiveness will be enhanced by allowing traders to achieve the benefit of FTA preferential tariff, for they will be able to issue the Certificate of Origins on a more accurate and precise basis of commodity classification.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.7 no.3
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• pp.65-73
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• 2012

Microfinance has been an important tool for the economic growth and poverty alleviation. But the success factors and risk factors have not been synthesized in academic literature. This article has paid attention to success factors and potential risk of the Grameen Bank. Grameen Bank methodology is almost the reverse of the conventional banking methodology. Conventional banking is based on the principle that the more you have, the more you can get. Founder of Grameen Bank, Professor Yunus pointed out that, "The least you have the highest you have the priority to receive a loan". On the basis of theoretical literature, there have been different kinds of success factors of microfinance observed in this paper. Key success factors of Grameen Bank are like these: innovation, strict administrative structure, adaptation and learning practice, incentive system. Complementary services such as business consulting and brokerage will contribute to borrowers' economic performance development.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.40 no.4
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• pp.191-202
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• 2017

The purpose of this study is to develop an engineer competency model using Analytical Hierarchy Process (AHP) to improve the national technical qualification system. Korea has managed technical human resources at the government level through the operation of a national technical qualification system that certifies engineers with national certificates or technical grades by laws. However, there have been increasing concerns that the government system is separated from global standards and does not reflect an engineer's comprehensive capabilities. For these reasons, the new architecture of the system has been continuously discussed and becomes a major policy issue of the Korean government. For the development of the engineer competency model, domestic and global models were separately structured using 554 valid questionnaires with a consistency ratio (CR) of 0.1 or less. The relative importance of engineer competency factors in a domestic model was career (0.383), qualification (0.253), academic degree (0.195), and job training (0.169) whereas the order in the global model was career (0.308), global ability (0.237), job training (0.175), domestic qualification (0.147), and academic degree (0.134). The results of AHP analysis indicated that the evaluation factors and methods recognized by engineers were different from a current government model focusing on domestic qualifications. There was also perceptual difference in the importance of engineer evaluation factors between groups depending on the type of organizations and markets. This means that it is necessary to reflect the characteristics of organizations and markets when evaluating engineer competency. Based on AHP analysis and literature reviews, this paper discussed how to develop a new engineer competency index (ECI) and presented two effective index models verified by simulation test using 59,721 engineers' information. Lastly, the paper discussed major findings of our empirical research and proposed policy alternatives for the improvement of a national engineer qualification system. The paper contributes to the management of technical human resources since it provides quantitative competency models that are objectively developed by reflecting market recognition and can be effectively used by the policy makers or firms.