• Proceedings of the Korea Port Economic Association Conference
• /
• 2006.08a
• /
• pp.277-290
• /
• 2006

A shipping operation broadly breaks down into: the acquisition of the ship, securing income from the ships, operating the ships, and running the business. For all ships these functions have to be performed. But most important thing is whether it is a better option for some or all these activities to be undertaken by a third party manager rather than resource them in-house or not. However, the size of ship management market has been increasing continuously over the last decades to achieve cost-savings. The ship management is considered as creating high added value and contributing to national economic growth. This paper will analyzes development trends of ship management and market, and carry out comparative studies with Korean ship management companies and an empirical studies on selection criteria of ship management firms. In doing so, some implications and alternatives will be suggested in order for Korean ship management companies to create high added value and gain international competitive edge.

• Asian-Australasian Journal of Animal Sciences
• /
• v.30 no.11
• /
• pp.1540-1549
• /
• 2017

Objective: Increasing food safety demands in the animal product market have created a need for a system to trace the food distribution process, from the manufacturer to the retailer, and genetic traceability is an effective method to trace the origin of animal products. In this study, we successfully achieved the farm tracing of 6,018 multi-breed pigs, using single nucleotide polymorphism (SNP) markers strictly selected through least absolute shrinkage and selection operator (LASSO) feature selection. Methods: We performed farm tracing of domesticated pig (Sus scrofa) from SNP markers and selected the most relevant features for accurate prediction. Considering multi-breed composition of our data, we performed feature selection using LASSO penalization on 4,002 SNPs that are shared between breeds, which also includes 179 SNPs with small between-breed difference. The 100 highest-scored features were extracted from iterative simulations and then evaluated using machine-leaning based classifiers. Results: We selected 1,341 SNPs from over 45,000 SNPs through iterative LASSO feature selection, to minimize between-breed differences. We subsequently selected 100 highest-scored SNPs from iterative scoring, and observed high statistical measures in classification of breeding farms by cross-validation only using these SNPs. Conclusion: The study represents a successful application of LASSO feature selection on multi-breed pig SNP data to trace the farm information, which provides a valuable method and possibility for further researches on genetic traceability.

• Korean Journal of Construction Engineering and Management
• /
• v.10 no.5
• /
• pp.135-147
• /
• 2009

The world has witnessed the dramatic expansion of international construction markets during the last decades, particularly around the developing economies and energy resource-rich countries. However, despite the booming markets, the risks of emerging regions have also increased under the rapidly changing environments confronting the global contractors. Most of all, success in overseas business mainly depends on selecting the right market to enter. Accordingly, the right market selection requires global firms to carefully carry out the scientific market entry decision by evaluating country risks, market prospects, firm's capability, level of competition, and among others. This study aims at developing a market entry model by the use of real option analysis (ROA) and scenario planning, which addresses the corporate strategic flexibility against the uncertainties encompassing the overseas construction markets. Based on the suggested approach, global contractors are expected to make a better decision rather than a typically static approach in pursuing, postponing, or abandoning a prospective market to their capacity with a concurrent consideration of uncertainties as well as its option value.

• Journal of the Korea Society of Computer and Information
• /
• v.25 no.11
• /
• pp.211-218
• /
• 2020

Gwangju Airport and Muan International Airport are planned to merge in 2021 while the aviation market is suffering an unprecedented prolonged crisis due to COVID-19 and therefore it is necessary to revitalize the airport to keep up with the passenger's demands. The study conducts an empirical research survey on the passengers of both airports regarding the importance, satisfaction, and overall satisfaction to derive a strategic marketing direction. The results show that to establish a strategic marketing direction, an urgent improvement is required for all "Commercial Facility and Diversity," "Rest Facility and Comfort," "Facilities for the Transportation Vulnerable," "Latest Facility" factors, and "Air Route Diversity." On the other hand, it is required to stop further investing and improving in "Publicity and Marketing" and "Flight Schedule". The results of this study demonstrate academic and practical importance through the comparison of two IPA models, based on Gwangju Airport and Muan International Airport before their integration, to provide substantive and meaningful marketing strategies.

• Journal of Korea Trade
• /
• v.26 no.4
• /
• pp.63-82
• /
• 2022

Purpose - Drawing on relational institutional theory, we explored how demographic similarity between board members of a firm and newly emerged political elites led to firms' increased financial resource acquisition such as leverage ratio and decreased export intensity amidst the Asian financial crisis. We also studied how a firm's leverage ratio and export intensity can further affect firm profitability and financial credit rating. Design/methodology - We revisited and explored a unique, unprecedented crisis that affected most Korean firms: the Asian financial crisis that coincided with a governmental shift from a conservative to a liberal party. We collected demographic information from 432 listed Korean firms' board members and 43 political elites of the Blue House from 1998-2000 to create a demographic similarity measurement. We collected firms' financial information, built panel data, and used ordinary least squares regression to test our theory. Findings - Our results showed that demographic similarity between a firm's directors and newly emerged politicians had a positive association with a firm's leverage ratio but a negative association with a firm's export intensity. A firm's leverage ratio had a negative relationship with firm performance measured by firm profitability and financial credit rating. A firm's export intensity showed a positive effect on firm performance. Originality/value - We highlighted that during an economic crisis that coincided with a governmental shift and change of leading political actors, firms exerted efforts to survey the environment and build new external stakeholder relationships to cope with the changing landscape. We proposed that in an emerging market like Korea where low levels of trust and favoritism are prevalent across society, one of the relational institutional strategies that firms can employ is the selection of directors with similar demographic characteristics to political elites based on factors including birthplace and school affiliations. We examined the efforts of firms to build political networks with newly empowered political elites during a financial crisis, and the consequences of establishing such networks. We highlighted that during a financial crisis, the demographic similarity between a firm's board members and newly emerged politicians can provide firms with access to financial resources but can also result in poor management and reduced effort to enhance its international competitiveness.

• Journal of Distribution Science
• /
• v.13 no.12
• /
• pp.41-52
• /
• 2015

Purpose - Given globalization, the new niche market of medical tourism is likely to experience sustainable growth for various reasons, such as aging populations and a shift in the medical consumerism paradigm toward prevention. Importantly, understanding medical customers' behavior is necessary to benefit from a competitive advantage in this industry. The existing research primarily accessed the key factors of medical quality and costs to explain health customers' behavior but is limited in terms of enabling an understanding of the decision process. This limitation exists because, given the intangibility and greater associated risks in the highly professional industry of international medical tourism, most customers lack the knowledge and experience needed to evaluate the central factors-such as the medical competence of health care countries-before purchases. Therefore, they actively search for useful information through various distributions to reduce uncertainty and to make better choices. Interestingly, most of these information channels are associated with word-of-mouth (WOM). However, no evidence is found in the literature to estimate the effect of WOM in the medical tourism field. Thus, this study focuses on WOM to explore its interaction with key medical characteristic factors and the attractiveness of destinations referred to by sources. This study also affects customers' evaluations and, in turn, influences their intention to seek health care services abroad. Research design, data, and methodology - The literature review addressed an interesting research model for estimating the relations among WOM, medical characteristics, attractiveness, and customers' choice intention regarding international health care. In the key economic regions in China, such as Beijing, Shanghai, Jiangsu, Shandong, and Guangdong, 2,500 survey questionnaires were distributed to potential customers of different ages, education, and income levels. A resulting 1,717 (68.68 percent of the original 2,500) usable surveys were obtained for analysis. Moderated regression analysis was used to determine the effects of WOM in the decision process regarding international health care destinations. Results - The results indicate that WOM is a good moderator of the relationships between the factors evaluated by sources and customers. More importantly, the WOM effects reflect the factors of tie strength, credibility, and vividness. The results also reveal that, given the moderating role of WOM, the intention of potential Chinese customers to seek the referred health care country varies according to the medical characteristics of medical competency and reputation as evaluated by customers. In contrast, the travel attractiveness of the attractions, facilities, accessibility, and social environment are critical determinants of destination choice intention. Conclusions - The moderating role of WOM has been confirmed through the international healthcare destination selection process. Medical tourism managers should user WOM as an effective marketing tool for industry development. Specially, marketers should consider the effects of WOM determinants, such as tie strength, credibility, and vividness, to develop an effective strategy. Furthermore, this study estimates the factors that affect customers' selection of medical tourism destinations. Health care managers or policy makers should consider a broad variety of variables that may attract more Chinese customers to international health care.

• Journal of the Korean Society of Environmental Restoration Technology
• /
• v.12 no.1
• /
• pp.52-66
• /
• 2009

The increase of rice productivity, the decrease of rice demand, aging farmers, and the market-opening of rice along with the domestic and international conditions changes have been led to the increase of the abandoned rice paddy fields. Such abandoned rice paddy fields have been left in many areas and most of them have become wetlands. The purpose of this study is methodology of selection to the wetland for development in the abandoned rice paddy fields along with surroundings. The selection of habitat suitability index assessment study to conservation and restoration was done through hydrology, wild animals habitation, wetland vegetation, outside disturbance, and natural purification capacity assessment. In addition, the same method was applied to assessment items and standards for both the restoration site selection and the type of restoration. Both assessment items and standards were applied to the sites, drawn on the maps, and overlayer for the comprehensive map, and then the wetland suitability index was applied to the suitable site. The development technique was applied to 10 sites near the Banwol Stream watershed in Gunpo, Gyeonggi province. The selection of conservation, restoration, and the optimal sites can lead to not only the biodiveristy increase in agricultural or semi natural areas but also to the establishment of ecological networks in national level.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
• /
• v.67
• /
• pp.143-162
• /
• 2015

Russia has a huge amount of energy resources. It is an attractive factor to countries which spend loads of energy. Republic of Korea is also one of large energy consumption countries. Therefore, It will be needed to raise energy cooperation with Russia. It's companies will increase trade focusing on the energy industry in the long term. Recently, However, Foreign companies should be careful when they enter the rapidly changing Russia market. In other words, companies will need a strategic approach to prepare the early case assessment and how to solve a possible dispute as they analyze cost and profit in business. This study is analyzing several dispute cases related in Russia. It presents some strategies for Korean companies such as dispute resolution method, arbitration institution selection method and so on. In addition, it proposes the introduction of the early case assessment for reducing a waste of time and cost. Furthermore, according as the importance of OECD Guidelines for Multinational Enterprises is highlighted in international community, companies should prepare practical division to establish a system of responsible business conduct. Finally, they will have to get an advice and counseling from the Russia legal experts in the early stages of the contract.

• Journal of Korea Trade
• /
• v.25 no.4
• /
• pp.37-59
• /
• 2021

Purpose - Although models of innovation and exporting dominate recent studies of relations between innovation and access to foreign markets, relations between innovation and foreign direct investment (FDI) are less explored. This is especially true of relations between types of innovation and FDI. We fill that gap in the literature with empirical evidence that clarifies whether firms enter foreign markets through exports or FDI. Design/methodology - In order to assess the role of innovation in firms' international engagement strategies, we develop research hypotheses and present new empirical evidence on firms' choice of entry - exports and FDI - based on firm-level data. Findings - Our empirical results suggest that the impact of product innovation is more significant in transition from being a purely domestic firm to an exporter, while process innovation more significantly affect transition from being an exporter to a multinational enterprise. Our results also support 'self-selection into FDI' rather than 'learning-by-performing FDI' in the relationship between innovation and firms' overseas expansion. Originality/value - Recent literature on the relationship between innovation and firms' participation in foreign markets is dominated by models of innovation and export behavior. However, foreign direct investment by multinational enterprises may also be associated with firms' innovative activities. We first analyze how product and process innovations influence firms' choices to initiate exports or FDI.

• Korea Trade Review
• /
• v.42 no.1
• /
• pp.283-301
• /
• 2017

As a consequence of the changed role and functions in port operations, the role of port hinterland has transformed to multi-functional logistic centre linking more efficiently elements of the supply chain. This paper analysed distribution centre selection factors in Busan new port hinterland, aiming to diagnose and evaluate the operational situations of port hinterland as multi-functional logistics centre. Based on a data collected from all 122 samples located in Busan new port hinterland, determinants for location competitiveness identified were: political support, market potentiality, infrastructure utilization, market niche, and connectivity. Comparing the difference between an importance and performance, it is revealed that the target port hinterland requires urgent improvement in political supports such as incentive programmes offered by host country, free trade system and related law, financial assistance in constructing distribution centers, and simplicity, ease and efficiency of administrative procedures. The results provide useful insights for establishing future improvement strategies and a strategic agenda to successfully respond to the demands of the companies located in port hinterlands and/or new customers those who want to move in.