• Title/Summary/Keyword: Export Scale

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A Case Study on Corporate Strategy Focused at Product Differentiation and Public Policy for the Enhancement of Industrial Structure: Korea's Trade Policy towards the Mega FTA (제품차별화 중심의 기업전략과 산업구조고도화 중심의 공공정책에 대한 연구: Mega FTA에 대한 한국의 통상정책을 중심으로)

  • Hwang, Hae-Du;Shin, Hyeon-Joo
    • Korea Trade Review
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    • v.44 no.4
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    • pp.205-220
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    • 2019
  • This article recapitulates the recent changes in trade laws, which may be accentuated due to the intriguing emergence of fortified protectionism and Mega FTAs. It points out the need to formulate not only the corporate strategy for enhancing the product differentiation and architectural capabilities but also the public policy, which comprises the industrial adjustment policy to cope with possible negative impulses caused by the digital trade and foreign direct investment. It is imperative for Korea to facilitate the alignment between corporate strategy and industrial adjustment policy as an effective means of enhancing industrial structure by nurturing those linkage effects between relevant forward and backward industries. Given the drastically volatile trade norms of multi-track trade policies, it may be a pivotal momentum for Korea to pursue a paradigm shift of its trade policy with a prime objective of achieving such an alignment between corporate strategy and industrial adjustment policy, which affords increased value-added and the further development of product or generic technology instead of resorting to the misuses and abuses of economies of scale and production technology for the maximization of export amount.

Research on Factors Affecting South Korea's OFDI Based on a Spatial Measurement Model

  • Su, Shuai;Zhang, Fan
    • Journal of Korea Trade
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    • v.26 no.1
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    • pp.99-112
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    • 2022
  • Purpose - This paper empirically investigates via a spatial lag model from the perspective of space economy to find the influencing factors of South Korea's OFDI along with 60 countries. Design/methodology - In the study of regional economic phenomena, we must first test the corresponding spatial correlation, and on this basis, complete the construction of the spatial model. For the target research object, after testing the spatial correlation, if there is spatial correlation, a spatial measurement model is needed. This paper uses the global Moran's I index for calculation. Based on the characteristics and research needs of the research object, this paper selects the spatial lag model to verify the existence of the spatial effect and factors affecting OFDI. Findings - Our results show that export scale, infrastructure, technology level, political stability, resource endowment, market size, distance and labor cost have a certain impact on Korea's OFDI, but at present the distance and market size factors are the most important influencing factors for South Korea's OFDI, The technical level and political stability have little effect on South Korea's OFDI, and are not main factors determining South Korea's OFDI. Originality/value - Through spatial measurement verification, it was found that the spatial effect has a significant impact on OFDI, along with more than 60 countries. On this basis, relevant suggestions are put forward, which have strong practical significance for South Korea's OFDI to achieve healthy and sustainable development.

A Study on the Born Global Venture Corporation's Characteristics and Performance ('본글로벌(born global)전략'을 추구하는 벤처기업의 특성과 성과에 관한 연구)

  • Kim, Hyung-Jun;Jung, Duk-Hwa
    • Journal of Global Scholars of Marketing Science
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    • v.17 no.3
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    • pp.39-59
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    • 2007
  • The international involvement of a firm has been described as a gradual development process "a process in which the enterprise gradually increases its international involvement in many studies. This process evolves in the interplay between the development of knowledge about foreign markets and operations on one hand and increasing commitment of resources to foreign markets on the other." On the basis of Uppsala internationalization model, many studies strengthen strong theoretical and empirical support. According to the predictions of the classic stages theory, the internationalization process of firms have been recognized and characterized gradual evolution to foreign markets, so called stage theory: indirect & direct export, strategic alliance and foreign direct investment. However, termed "international new ventures" (McDougall, Shane, and Oviatt 1994), "born globals" (Knight 1997; Knight and Cavusgil 1996; Madsen and Servais 1997), "instant internationals" (Preece, Miles, and Baetz 1999), or "global startups" (Oviatt and McDougall 1994) have been used and come into spotlight in internationalization study of technology intensity venture companies. Recent researches focused on venture company have suggested the phenomenons of 'born global' firms as a contradiction to the stages theory. Especially the article by Oviatt and McDougall threw the spotlight on international entrepreneurs, on international new ventures, and on their importance in the globalising world economy. Since venture companies have, by definition. lack of economies of scale, lack of resources (financial and knowledge), and aversion to risk taking, they have a difficulty in expanding their market to abroad and pursue internalization gradually and step by step. However many venture companies have pursued 'Born Global Strategy', which is different from process strategy, because corporate's environment has been rapidly changing to globalization. The existing studies investigate that (1) why the ventures enter into overseas market in those early stage, even in infancy, (2) what make the different international strategy among ventures and the born global strategy is better to the infant ventures. However, as for venture's performance(growth and profitability), the existing results do not correspond each other. They also, don't include marketing strategy (differentiation, low price, market breadth and market pioneer) that is important factors in studying of BGV's performance. In this paper I aim to delineate the appearance of international new ventures and the phenomenons of venture companies' internationalization strategy. In order to verify research problems, I develop a resource-based model and marketing strategies for analyzing the effects of the born global venture firms. In this paper, I suggested 3 research problems. First, do the korean venture companies take some advantages in the aspects of corporate's performances (growth, profitability and overall market performances) when they pursue internationalization from inception? Second, do the korean BGV have firm specific assets (foreign experiences, foreign orientation, organizational absorptive capacity)? Third, What are the marketing strategies of korean BGV and is it different from others? Under these problems, I test then (1) whether the BGV that a firm started its internationalization activity almost from inception, has more intangible resources(foreign experience of corporate members, foreign orientation, technological competences and absorptive capacity) than any other venture firms(Non_BGV) and (2) also whether the BGV's marketing strategies-differentiation, low price, market diversification and preemption strategy are different from Non_BGV. Above all, the main purpose of this research is that results achieved by BGV are indeed better than those obtained by Non_BGV firms with respect to firm's growth rate and efficiency. To do this research, I surveyed venture companies located in Seoul and Deajeon in Korea during November to December, 2005. I gather the data from 200 venture companies and then selected 84 samples, which have been founded during 1999${\sim}$2000. To compare BGV's characteristics with those of Non_BGV, I also had to classify BGV by export intensity over 50% among five or six aged venture firms. Many other researches tried to classify BGV and Non_BGV, but there were various criterion as many as researchers studied on this topic. Some of them use time gap, which is time difference of establishment and it's first internationalization experience and others use export intensity, ration of export sales amount divided by total sales amount. Although using a mixed criterion of prior research in my case, I do think this kinds of criterion is subjective and arbitrary rather than objective, so I do mention my research has some critical limitation in the classification of BGV and Non_BGV. The first purpose of research is the test of difference of performance between BGV and Non_BGV. As a result of t-test, the research show that there are statistically efficient difference not only in the growth rate (sales growth rate compared to competitors and 3 years averaged sales growth rate) but also in general market performance of BGV. But in case of profitability performance, the hypothesis that is BGV is more profit (return on investment(ROI) compared to competitors and 3 years averaged ROI) than Non-BGV was not supported. From these results, this paper concludes that BGV grows rapidly and gets a high market performance (in aspect of market share and customer loyalty) but there is no profitability difference between BGV and Non_BGV. The second result is that BGV have more absorptive capacity especially, knowledge competence, and entrepreneur's international experience than Non_BGV. And this paper also found BGV search for product differentiation, exemption strategy and market diversification strategy while Non_BGV search for low price strategy. These results have never been dealt with other existing studies. This research has some limitations. First limitation is concerned about the definition of BGV, as I mentioned above. Conceptually speaking, BGV is defined as company pursue internationalization from inception, but in empirical study, it's very difficult to classify between BGV and Non_BGV. I tried to classify on the basis of time difference and export intensity, this criterions are so subjective and arbitrary that the results are not robust if the criterion were changed. Second limitation is concerned about sample used in this research. I surveyed venture companies just located in Seoul and Daejeon and also use only 84 samples which more or less provoke sample bias problem and generalization of results. I think the more following studies that focus on ventures located in other region, the better to verify the results of this paper.

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A study on Operation factors the Used automobile logistics complex using Fuzzy-AHP (Fuzzy-AHP를 활용한 인천항 중고자동차 물류단지 운영 성공요인에 대한 연구)

  • Kim, Byung-Hwa;Cha, Young-Doo;Ma, Hye-Min;Yeo, Gi-Tae
    • Journal of Digital Convergence
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    • v.15 no.7
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    • pp.97-109
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    • 2017
  • Domestic vehicle penetration rate is growing at 3% per year, but consumers are increasingly buying used cars due to steady price hikes Nevertheless, the used car export market is expected to decline due to import regulations of major countries and the low grade environment of Used car export complex. Therefore, this study using Fuzzy-AHP was aimed to find operational factors of Used car logistics complex and establish a practical management plan of Used car logistic complex in incheon port. Fuzzy-AHP is the method that can be calculated weight of multi-level criteria and change linguistic ambiguity of human to Fuzzy Number. So it's able to propose the realistic decision making alternatives. As a result of the literacture reviews, present study focused on the analysis of the present situation of the logistics of the used car and the activation of the complex, suggested the activation plan and activation of the logistics complex. In the analysis of operational factors, logistic complex cost factors were found to be the most important factors by recording the weighted value of 0.306 in the above factors. The detailed factors were as follows: rent, accessibility, and logistics site size. It is necessary to compute competitive rent for the highly-advanced used car logistics complex, and to realize the rental support policy and to consider designating the free trade zone. In addition, it is necessary to expand the access infrastructure and secure the scale of the company for overseas buyers, and it is necessary to improve the overall government laws and introduce IT system for the future.

Center of Asia, The Role and Potential of K-Musical (아시아의 중심, K-Musical의 역할과 가능성)

  • Lee, Eun-Hye
    • Journal of Korea Entertainment Industry Association
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    • v.14 no.2
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    • pp.73-84
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    • 2020
  • South Korea's newly branded musical industry 'K-Musical' is currently booming. The growth of K-Musical can be attributed to the popularity of other industries in the Korean wave, namely K-Pop and Korean dramas. With the inclusion of K-Musicals into the Korean wave, it is beginning to standout on its own as a cultural brand. In the first half of 2012, the popularity of K-Musicals grew 24%, higher than any other performance industry. Moreover, this industry grew 20% in the latter half of 2012 and grew to 300 billion won in 2013. One reason for this growth can be attributed to the increased output of musicals of Korean origin in large-scale theatres dedicated solely to musicals. This has became to necessary foundation for the export of korean musicals abroad. Now is a critical time for Korean musicals to expand to other countries in order to become the hub of Asia for musical industries. 2012 and 2013 saw the greatest increase in the export of musicals to Japan and China. The musical sales in 2018 totaled 257.1 billion won, an increase of 29% over the previous year. Therefore, understanding the importance of these two markets is pivotal in the continued sustainable growth of K-Musicals. This paper seeks to highlights the importance of becoming the canter of Asia musicals and to offer strategies to lead Korea's musical industry toward this goal.

Development of Commercial-scaled Pervaporation Hollow Fiber Membrane System for High Pressure and High Temperature Applications (고온 고압용 상업적 규모의 중공사 투과증발 막시스템 개발)

  • Yeom, Choong Kyun;Kang, Kyeong Log;Kim, Joo Yeol;Ahn, Hyo Sung;Kwon, Konho
    • Membrane Journal
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    • v.23 no.4
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    • pp.257-266
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    • 2013
  • The main purpose of this study is to develop a commercial scale of pervaporative process equipped with hollow fiber membrane modules, being able to effectually purify organic solvent at high temperature well over its boiling point under high vapor pressure. Three constituent technologies have been developed; 1) to fabricate braid-reinforced hollow fiber membrane stable in high pressure and high temperature application, 2) to design and fabricate a commercial scale of hollow fiber membrane module, and 3) to design and fabricate a pilot scale of pervaporation equipment system. The developed hollow fiber membrane possesses a membrane performance superior to the membrane of Sulzer (Germany) which is the most-well known for pervaporation process, and the membrane module equips hollow fiber membranes of $4.6m^2$ and the pervaporation system can treat organic liquid at 200 L/h, which is based on the dehydration of 95 wt% isopropyl alcohol (IPA). Since the membrane module is designed to flow in and pass through the inside of individual hollow fiber membrane, not to involve both the formation of feed's dead volume observed in flat-sheet membrane module and the channeling of feed occurring inside hollow fiber bundle which lower membrane performance seriously, it showed excellent separation efficiency. In particular, the module is inexpensive and has less heat loss into its surrounding, in compared with flat-sheet membrane module. In addition, permeant can be removed effectively from the outer surface of hollow fiber membrane because the applied vacuum is conveyed uniformly through space between fibers into respective fiber, even into one in the middle of the hollow fiber bundle in which the space between fibers is uniform in distance. Since the hollow fiber membrane pervaporation system is the first one ever developed in the world, our own unique proprietary technology can be secured, preoccupying technical superiority in export competitive challenges.

A Study on Searching for Export Candidate Countries of the Korean Food and Beverage Industry Using Node2vec Graph Embedding and Light GBM Link Prediction (Node2vec 그래프 임베딩과 Light GBM 링크 예측을 활용한 식음료 산업의 수출 후보국가 탐색 연구)

  • Lee, Jae-Seong;Jun, Seung-Pyo;Seo, Jinny
    • Journal of Intelligence and Information Systems
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    • v.27 no.4
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    • pp.73-95
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    • 2021
  • This study uses Node2vec graph embedding method and Light GBM link prediction to explore undeveloped export candidate countries in Korea's food and beverage industry. Node2vec is the method that improves the limit of the structural equivalence representation of the network, which is known to be relatively weak compared to the existing link prediction method based on the number of common neighbors of the network. Therefore, the method is known to show excellent performance in both community detection and structural equivalence of the network. The vector value obtained by embedding the network in this way operates under the condition of a constant length from an arbitrarily designated starting point node. Therefore, it has the advantage that it is easy to apply the sequence of nodes as an input value to the model for downstream tasks such as Logistic Regression, Support Vector Machine, and Random Forest. Based on these features of the Node2vec graph embedding method, this study applied the above method to the international trade information of the Korean food and beverage industry. Through this, we intend to contribute to creating the effect of extensive margin diversification in Korea in the global value chain relationship of the industry. The optimal predictive model derived from the results of this study recorded a precision of 0.95 and a recall of 0.79, and an F1 score of 0.86, showing excellent performance. This performance was shown to be superior to that of the binary classifier based on Logistic Regression set as the baseline model. In the baseline model, a precision of 0.95 and a recall of 0.73 were recorded, and an F1 score of 0.83 was recorded. In addition, the light GBM-based optimal prediction model derived from this study showed superior performance than the link prediction model of previous studies, which is set as a benchmarking model in this study. The predictive model of the previous study recorded only a recall rate of 0.75, but the proposed model of this study showed better performance which recall rate is 0.79. The difference in the performance of the prediction results between benchmarking model and this study model is due to the model learning strategy. In this study, groups were classified by the trade value scale, and prediction models were trained differently for these groups. Specific methods are (1) a method of randomly masking and learning a model for all trades without setting specific conditions for trade value, (2) arbitrarily masking a part of the trades with an average trade value or higher and using the model method, and (3) a method of arbitrarily masking some of the trades with the top 25% or higher trade value and learning the model. As a result of the experiment, it was confirmed that the performance of the model trained by randomly masking some of the trades with the above-average trade value in this method was the best and appeared stably. It was found that most of the results of potential export candidates for Korea derived through the above model appeared appropriate through additional investigation. Combining the above, this study could suggest the practical utility of the link prediction method applying Node2vec and Light GBM. In addition, useful implications could be derived for weight update strategies that can perform better link prediction while training the model. On the other hand, this study also has policy utility because it is applied to trade transactions that have not been performed much in the research related to link prediction based on graph embedding. The results of this study support a rapid response to changes in the global value chain such as the recent US-China trade conflict or Japan's export regulations, and I think that it has sufficient usefulness as a tool for policy decision-making.

Analysis of Promising Country for Seawater Desalination Plant Using Delphi Method (Delphi 기법을 이용한 해수담수화 플랜트 유망 국가 분석)

  • Yang, Jeong-Seok;Kim, Il-Hwan
    • KSCE Journal of Civil and Environmental Engineering Research
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    • v.33 no.6
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    • pp.2351-2357
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    • 2013
  • An index was developed for analyzing the promising countries for seawater desalination plant and related data sets were collected and analyzed. Each indicators was standardized by scale readjustment method and Delphi method was used to calculate the weights for indicators from questionnaire survey by experts in seawater desalination plant field. Twenty three indicators were selected and they were classified into three groups, economic, social, and environmental indicator groups. Eleven countries (Saudi Arabia, UAE, Kuwait, Iran, Qatar, China, Singapore, India, Algeria, Turkey, United States) were selected considering present data availability and index for each country was calculated. The results show United States and China took the first (0.537) and second (0.490) place for the most promising country for seawater desalination plant. However it will not be easy to play a significant role in the markets because of present seawater desalination technology level and national policy, etc. Saudi Arabia took the third (0.329) place and other countries which has more than 0.2 index value can be considered as a promising countries for seawater desalination plant. We can establish a strategy to export our seawater desalination technology and plant using the result of this study. The developed index can be applied to other countries, which were not included in this study, when their data is available.

Barriers Impeding Domestic Pharmaceutical Industry's Exportation to Developed Countries (의약품 해외 수출을 위한 한국 제약산업의 해결과제)

  • Yun, Sujin;Min, Jihye;Cho, Eun
    • Korean Journal of Clinical Pharmacy
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    • v.23 no.2
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    • pp.106-113
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    • 2013
  • Background: For Korean pharmaceutical industry to continue to grow, it is requisite to enter the global markets of developed countries. However, the export volume has fallen short of 10% of the gross sales and the industry has only recently warming up to prepare the globalization along with suchlike the Columbus Project. Purpose: This research was conducted to identify the difficulties Korean pharmaceutical companies perceived and to discover the gap in the needs for the government aid the companies have been seeking in the purpose of entering the developed pharmaceutical markets. Method: A survey method was used for this research. Six experts were surveyed and provided comments for the pre-questionnaire. Then, a final questionnaire was developed consisting of 10 items on regulatory-related and another 10 items on non-regulatory-related factors in drug exportation using the Likert scale (1 to 5). The survey sample was 30 Korean companies which have participated in the Columbus Project since 2010. Results: Nineteen (63%) companies responded to the survey. Most companies perceived difficulty (mean = 4.19) over the entire pathway of the regulatory process of global markets. Clinical trials and post-marketing surveillance were remarked as the most difficult barrier to follow the regulatory globalization. Among non-regulatory related factors, marketing, arranging a distribution network, obtaining experts, and projecting a timeline in exportation were brought up as the most difficulty. Conclusion: Especially, cost and language barrier were considered as the main cause producing these difficulties across regulatory and non-regulatory processes and accordingly, securing both long term budget and experts at governmental level was suggested by the domestic pharmaceutical companies.

A study of production Management application status, analysis and set up reasonable production management System model for Small-medium industry Company in Korea (국내 중소광공업의 생산관리 적용 실태분석과 그 적정 모델설정에 관한 연구)

  • 신용백;김원중;김광섭
    • Journal of the Korean Professional Engineers Association
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    • v.14 no.2
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    • pp.52-61
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    • 1981
  • In Korea Small-medium Companies Constitutes 96.5% of all of the mining and manufacturing industries, about 35.7% of the total production of value added business, an average of 35% of the actual export of industrial goods and 47.6% of employment since present at the end of 1979. Now then Small-medium Industry Companies organization style constitutes 78.6% of a form of private company and 81.2% of the total on an small scale under 50 persons inregular employee. Specially, the trouble of business management of the mining and manufacturing Companies in Korea are constituted average 28.3% of production management ill the worst trouble of business management from 1973 to 1979 and small-medium industry Companies are the same of about more than 30% of production management in the trouble of business management. In this cases, the status of production management is effected by small-medium industry companies are the style of non-system and non-organization, but then 13parts in production management operations have the many trouble problems. In this circumstances a change for the better of production management operations in small medium industry companies are suggested the application effects and achievement points of production management, it is suggested a kind of variety and a small quantity, production management system of small-medium industry Company. And then Industrial Engineering technics is applied systematic route and the company grow more than better its physical condition for the improve productivity applied system approach for production management. There for the chapter 4-5 of this paper treats of a rational production management system approach, it make a emphatic major point of high level of economic growth of small medium Industry enterprise.

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