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

• International Area Studies Review
• /
• v.13 no.3
• /
• pp.93-119
• /
• 2009

The purpose of this paper is to analyze the world rice market through structure and conduct frameworks utilizing annual data from 1970 to 2007. The world rice market has been unstable for much of the period post-World War II, with prices volatile and the availability of supplies uncertain. Therefore, analysis of the structure and conduct of the world rice market can provide information to better formulate the direction of future policies. Also, this paper will describe the effects of total production, export rice price, market concentration, and real exchange rate for exporting countries on total export rice volume. On basis of the expected results, the international rice market possesses market power with respects to static calculation and hypothesis test, and it will be demonstrated that exporting countries' currency crucially affects the exporting quantity and market power of those same exporting countries.

• The Journal of Fisheries Business Administration
• /
• v.41 no.2
• /
• pp.25-44
• /
• 2010

The laver has been cultivated long time ago in Korea. And traditional production system was changed to new system about 30 years ago. The new production system is understood the specialization of laver products, that is, originally individual fishery households made final laver products from raw cultured laver in sea working to dry working in land, but the new system was separated raw laver production in sea and dry laver production, which made final dry laver products by purchase the raw laver in land. This change has been increased laver production, 10 billion sheets in 2000's from 5 billion sheets in 1980's. And rapid production increase gave rise to some troubles on laver industry that is a serious drop in real laver prices, discord structure between raw laver producer and dry laver producer, stagnation of laver consumption, etc. Now Korea is the best laver production country together with Japan in world. Then we have to consider some schemes for the sustainable development of laver industry. One of such schemes is export enlargement of laver against world. The consumption of laver has been globally increased in recent. The other is the grading test problem of dry laver. Because the rapid increase of laver production caused to drop laver quality. Then we seriously have to consider the grading test of dry laver for high level quality production.

• Journal of Korea Society of Digital Industry and Information Management
• /
• v.10 no.3
• /
• pp.273-283
• /
• 2014

Imported and exported agricultural products are facing a very difficult time due to the rising distribution costs spurred by the increasing labor and oil prices. High empty transfer rates, which take place on a return route after the regular transportation of imported and exported agricultural products, are especially a major cause of the rising distribution costs. In an effort to overcome those limitations, this study set out to examine the transportation stages connecting harbor warehouses, processing plants, and central distribution centers on the circulation route of such imported grains as wheat, barley, corn, and soybean and the transportation route from the warehouses devoted to exported agricultural products to harbors for such exported agricultural products as apple, pear, and persimmon in order to develop a model on the creation of a compound logistics complex for processing plants and transshipment of imported and exported agricultural products. The study also promoted the logistic rationalization of imported and exported agricultural products by creating a compound logistics complex that would combine processing plants for imported agricultural products and transshipment functions for exported agricultural products.

• The Journal of Asian Finance, Economics and Business
• /
• v.4 no.1
• /
• pp.39-49
• /
• 2017

This study develops an early warning system (EWS) to prevent the banking crisis. The proposed system incorporates both the perspective of crises and fundamental characteristics of the banking system in each economy. A fuzzy logic method with data from 1990-2009 is employed to construct the EWS of banking crisis based on 21 pre-determined variables from the aspect of total economy, financial and banking sectors. Our results show: Firstly, South Korea recorded higher probability to have a banking crisis in 1997 as there was large foreign debt in dollars. Secondly, China, Australia and New Zealand banking systems appear to be vulnerable to the crisis in 2007. The surge of China export, FDIs and booming stock market were signs of a heated economy. Australia with high commodity prices was also vulnerable to crisis. Thirdly, Australia, China, Japan and New Zealand banking systems appear to be exposed to the higher chance of a crisis in 2010. Japan with deflation coupled with expensive yen did not augur well for its export. Overall, the findings show that in Asian Financial Crisis 1997/98 and Global Financial Crisis 2008/09, many economies are exposed to a higher probability of having the crisis and this shows an urgent need of having surveillance in these economies.

• KDI Journal of Economic Policy
• /
• v.32 no.3
• /
• pp.33-69
• /
• 2010

This paper examines the causes of the terms of trade decline in Korea since the mid-1990s, using the decomposition methodology suggested by Baxter and Kouparitsas (2000) as well as regression analysis. The main empirical results are summarized as follows. The decomposition exercise of changes in terms of trade showed that Korea's terms of trade decline for the past decade or so is attributable to goods price effect which were driven by the rise of oil prices relative to manufactures. The decomposition of terms of trade change for 55 countries showed that terms of trade decline due to goods price effect is a phenomenon that was commonly observed for exporters of manufactures since mid-1990s. These results suggest that external factors such as China's trade expansion, rather than internal factors, are mostly responsible for the decline in terms of trade. In accordance with these results, the regression results suggest that China's trade expansion contributed to Korea's terms of trade decline, especially in 2000s, by raising the import prices of oil and raw materials and lowering the export prices of manufacturing products.

• Journal of Korean Society of Industrial and Systems Engineering
• /
• v.46 no.2
• /
• pp.176-182
• /
• 2023

With about 80% of the global economy expected to shift to the global market by 2030, exports of reverse direct purchase products, in which foreign consumers purchase products from online shopping malls in Korea, are growing 55% annually. As of 2021, sales of reverse direct purchases in South Korea increased 50.6% from the previous year, surpassing 40 million. In order for domestic SMEs(Small and medium sized enterprises) to enter overseas markets, it is important to come up with export strategies based on various market analysis information, but for domestic small and medium-sized sellers, entry barriers are high, such as lack of information on overseas markets and difficulty in selecting local preferred products and determining competitive sales prices. This study develops an AI-based product recommendation and sales price estimation model to collect and analyze global shopping malls and product trends to provide marketing information that presents promising and appropriate product sales prices to small and medium-sized sellers who have difficulty collecting global market information. The product recommendation model is based on the LTR (Learning To Rank) methodology. As a result of comparing performance with nDCG, the Pair-wise-based XGBoost-LambdaMART Model was measured to be excellent. The sales price estimation model uses a regression algorithm. According to the R-Squared value, the Light Gradient Boosting Machine performs best in this model.

• Journal of Mushroom
• /
• v.14 no.4
• /
• pp.136-141
• /
• 2016

The production scale of mushrooms in Korea is approximately 600 billion won, which is 1.6% of Korea's gross agricultural output. In Korea, ca. 190,000 tons of mushrooms are harvested annually. Although the numbers of mushroom farms and cultivators are constantly decreasing, total mushroom yields are increasing owing to large-scale cultivation facilities and automation. The recent expansion of the well-being trend has caused an increase in mushroom consumption in Korea: the annual per capita mushroom was 3.9 kg ('13), whichis a little higher than that in Europe. Thus, mushroom export, mainly Flammulina velutipes and Pleurotus ostreatus, has increased since the mid-2000s. Recently, however, it is slightly reduced. Nevertheless, Vietnam, Hong Kong, the United States, and the Netherlands continue to export mushrooms, and Korea has increased its export to Australia, Canada, Southeast Asia, etc. Canned Agaricus bisporus, the first export of the Korean mushroom industry, reached it speak sales in 1977-1978. When Korea initiated trade with China in 1980, the international prices of mushrooms fell sharply, leading to shrinkage of the domestic markets. Spurred by the high demand to develop substitute goods for A. bisporus, the oyster mushroom (P. ostreatus) gained attention since it seemed to suit the taste of Korean consumers. Although the log cultivation technique for oyster mushroom was developed in the early 1970s, it required a great deal of labor. Thus, we developed the shelf cultivation technique, which is easier to manage and allows for mass production. In this technique, the growing shelf is made mafrom fermented rice straw, whichis the only P. ostreatus medium in the world and isused only in South Korea. After then, the use of cotton wastes as an additional material of medium, the productivity. Currently, we are developing a standard cultivation technique and environmental control system that can stably produce mushrooms throughout the year. The increase of oyster mushroom production may boostthe domestic market and contribute to industrial development. In addition, oyster mushroom production technology played a role in forming the basis for the development of bottle cultivation, which made mass production. In particular, bottle cultivation using liquid spawn could allow for the export of F. velutipes and Pleurotus eryngii. In addition, the white varieties of F. velutipes were second developed in the world after Japan. We also developed the new A. bisporus cultivar 'Saeah', which is easy to grow in Korea. In hopes to advance the mushroom industry, we will continue to develop cultivars with international competitive power and to improve cultivation techniques.

• Journal of Korea Port Economic Association
• /
• v.34 no.2
• /
• pp.83-96
• /
• 2018

The improvement in logistics competitiveness is the key element of corporate competitiveness in the era of severe competition among companies and high oil prices due to globalization. For this reason, this study analyzed the effect of transportation mode selection factors of Indonesian export companies on the logistic performance in accordance with the logistics environment. The results of the analysis show that only the cargo characteristics, which are the transportation mode selection factor of export companies, had a significant effect on logistics; the services, time, and expenses, on the other hand, had no effect on logistics performances. This result reflects the poor logistic infrastructure of Indonesia. While the export company considers service, time, and expenses when choosing transportation mode, it had no effect on logistic performances due to poor logistic infrastructure. The poor logistic infrastructure of Indonesia has caused a rise in the overall logistic expenses of companies due to excessive transportation time over the transportation distance, unavailability of on-time acceptance and delivery, and increase in the transportation expenses and subsidiary expenses. These are also the factors that decrease the competitiveness of export companies and affect the promotion of the manufacturing industry and foreign investment for the purpose of job creation and industrialization by the Indonesian government. Therefore, the logistics infrastructure must be improved initially. This study determines various points in terms of the logistics infrastructure environment of Indonesia, a developing country, using previous studies and provides their implications.

• International Area Studies Review
• /
• v.20 no.1
• /
• pp.23-51
• /
• 2016

This study analyzed the expected economic effects of the Korea-GCC FTA and sought strategies for industrial cooperation. To see the economic effects of Korea-GCC FTA, we analysed the effect of the oil tariff reduction of economy by Vector Autoregression(VAR) model. The estimation results shows that following the abolishment of the tariff on crude oil imports, GDP, GNI and consumption are expected to grow by 0.212%, 0.389% and 0.238%, respectively. Meanwhile, investment, export and import are estimated to drop by 0.462%, 0.413% and 0.342%, respectively. As for prices, producer prices are to rise by 6.356%p, whereas consumer prices fall by 2.996%p. In short, the Korea-GCC FTA and resultant abolishment of the tariff on crude oil imports followed by the decline in crude oil prices will result in declining prices whilst macroeconomic indices, such as GDP, GNI and consumption, will increase exerting positive effects on domestic economic growth. Also, it is necessary to proactively respond to GCC member states' industrial diversification policies for FTA-based industrial cooperation to diversify the sources of crude oil and natural gas imports for further resource risk management.