• Journal of Korea Trade
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• v.23 no.2
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• pp.1-13
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• 2019

Purpose - This paper empirically investigates the competition effect of exports between Korea and China in their common-export markets considering market sophistication. Modern market sophistication includes an importing country's aggregate demand for products of high quality, design, novelty, eco-friendliness, and even IPR protection. Using an empirical analysis to identify the demand for product quality across countries, this paper estimates the effects of market sophistication on the competition between Korean exports and Chinese products. Design/Methodology - Our empirical model considers the relationship between an importing country's consumer sophistication and the export competition between Korea and China. This study employs the existing theoretical framework to identify the aggregate demand for product quality across countries. Using a quite direct measurement (the consumer sophistication index, our analysis investigates the differential effects of Korea's export market sophistication, particularly in markets where Korean exports are in competition with similar Chinese products. Findings - Our main findings can be summarized as follows: the negative effects of the export competition between Korea and China on Korea's exports are stronger in third markets where consumers are less sophisticated while the effects are not as pronounced in markets where consumers are more sophisticated. This result, however, best applies to differentiated goods which significantly vary in product quality. Originality/value - Existing studies focus on the supply side of production and make the assumption that the market preference for export quality is identical across countries. This paper attempts to evaluate the export competition between Korea and China from the demand-side perspective. This area of trade studies is underexplored both empirically and in theory, although the issue has long been important to Korean and world trade.

• Korean Management Science Review
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• v.11 no.2
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• pp.237-253
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• 1994

Technology measurement is related with how to construct indicators of technological change and relative ranking of technological sophistication. Many attempts have been made to understand the measurement of technology. However, technology measurement still remains little understood problem in spite of its importance. This article is concerned with improving the measurement of technology by introducing market factors into the model. It illustrate a simple approach to the measurement of technology. This approach is based on the characteristic-space paradigm of technology. A relative ranking of technological sophistication for a product is measurable as a set of characteristics. The main feature of the proposed approach is the combination of technical factors and market factors. Technical factors are reflected in the definition of technological sophistication. Market factors are embraced in the determination of the relative importance assigned to each technology defining characteristics. Thus, the weight is determined by technical factors and market factors, which differentiates the study from the past based on judgmental technique such as experts' opinion.

• East Asian Economic Review
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• v.19 no.3
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• pp.223-241
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• 2015

This paper examines the existence of value premium in the Chinese stock markets and empirically provides its explanation. Our results suggest that the value premium does exist in the Chinese markets, and investor sophistication is significant in explaining its existence. In particular, there is supporting evidence that the value premium could be driven by individual investors, whereas stocks that are mostly held by institutional investors are value-premium free. We briefly discuss the implications of our findings.

• Journal of Fashion Business
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• v.10 no.6
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• pp.79-90
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• 2006

In order to build strong brand equity in the current market circumstances, it is essential to understand the core dimensions of brand image, which is brand personality. The objectives of this study were to identify the brand personality dimensions of a casual brand, "BeanPole," and to investigate the effects of the brand personality on BeanPole buyers' brand preference, satisfaction and loyalty. The data were collected via a web survey. The sample consists of 500 people between the ages of 18-45 who are familiar with Bean Pole casual clothing brand (male- 40%; female-60%). Sixty-six percent of the sample indicated that they had purchased the Bean Pole clothing during the last three years. A total of five factors were extracted from the brand personality index scale: They were excitement/sophistication, competence, sincerity, ruggedness, and smoothness. Compared to the B/P non-buyers, B/P buyers tended to rate excitement/sophistication, competence, sincerity, and the smoothness brand personality dimensions higher. Multiple regression analysis revealed that excitement/sophistication, competence, sincerity and ruggedness brand personality were significant predictors of respondents' casual clothing brand preference, satisfaction, and brand loyalty. Among these significant predictors, competence was the best predictor of casual clothing brand preference, satisfaction and brand loyalty. Based on these findings, strategic implications are discussed.

• The Journal of the Korea Contents Association
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• v.10 no.12
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• pp.425-433
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• 2010

The area of tourism events is constantly growing. The competition in the tourism market is also getting so fierce that improving competitiveness through specialized brand personality is necessary to survive. So, this study derives the components of tourism events and clarifies their influences. The research shows that the brand personality of tourism events consists of three factors such as competence/sophistication, excitement and sincerity. As a result of the analysis, excitement and sincerity have impact on the event attitude while competence/sophistication and excitement on royalty.

• Journal of Korea Trade
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• v.25 no.3
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• pp.21-47
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• 2021

Purpose - Offshoring has emerged as one of the major trends in international trade and has become one of the strategies for achieving competitiveness in the global market. In spite of this, the expected gains of offshoring can be offset by hidden costs and risks, such as those associated with the COVID-19 pandemic, the trade war between the USA and China, and the ongoing trade dispute between Korea and Japan. To obviate such business failure and prevent critical business blunders, offshoring strategies that efficiently consider both risk elements and potential wealth creation are urgently need. The first purpose of this study is to contribute to the development of more advanced offshoring strategies to help host countries select the best locations to manage supply chain risks and create unique value. The second purpose is to specifically analyze the current status of Korea and provide Korean companies with implications to be considered when deciding whether to offshore or re-shore. Design/methodology - A Network DEA model was applied to measure the comparative location efficiency of national competencies for offshoring strategy from perspectives of wealth creation opportunities (profitability and marketability) and supply chain risk management. The location efficiencies are compared among a total 70 countries selected from the Global Competitiveness Index (GCI) and globally attractive locations outlined by Kearney (2017). For the secondary analysis of efficiency, a t-test examining the nature of competitive advantage and the level of sophistication in production processes was implemented in three divisions. We then analyzed differences in offshoring performance in terms of the identified national traits. Moreover, Tobit regression analysis is conducted to investigate the correlation between value-added business activities and each divisional efficiency, seeking to determine how each degree of value-added business activity influences the increase in offshoring productivity. Findings - Regarding overall location efficiency for offshoring performance, only the USA and Italy were identified as being efficient as host countries for offshoring, under circumstances of advanced development, such as productivity and risk management. Korea ranks 13th among 70 countries. The determinants of national competitiveness depend on national traits (the nature of competitive advantage and business sophistication). Countries with labor/resource advantages and labor-intensive industries are more competitive in terms of marketability than others. In contrast, countries with strong technology-intensive industries benefit offshoring companies, particularly in the technology sector, with the added advantage of supply chain risk management. As the perception of a value chain is broader in a country, it can achieve both production sophistication and competitive advantages such as marketability and SCRM. Originality/value - Existing studies focus on offshoring effectiveness from a company perspective. This paper contributes to comparing country efficiency in producing core competencies related to an offshoring strategy and also segments countries into three performance-based considerations associated with the global offshoring market. It also details Korea's position as an offshoring location according to national efficiency and competency.

• The Research Journal of the Costume Culture
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• v.27 no.3
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• pp.206-221
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• 2019

This study examined the causal relations among brand personality, brand identification, and brand equity of Korean SPA brands that target Chinese consumers. Data were collected from 600 Chinese consumers residing in Beijing and Shanghai from August 15th to August 30th of 2015 by using convenience sampling; 561 of the questionnaires were used in the statistical analyses. Structural equation models were employed using AMOS 22.0. The results were as follows. First, the factors of Korean SPA brand personality, such as sophistication, competence, tenacity, and interest, exerted significant influences on the brand identification, while honesty had no significant influence on brand identification. Second, brand identification had significant influence on brand awareness, brand image, and brand loyalty. Third, brand awareness showed significant influence on brand image and brand loyalty. Fourth, brand image had significant influence on brand loyalty. These results indicated that brand equity can be strengthened by enhancing brand identification with the proper brand personality. This demonstrates that if Chinese consumers can associate Korean SPA brands with a sophisticated, attractive image, brand identification may be improved and brand equity may be strengthened in the long run, providing basic data for establishing efficient marketing strategies for Korean SPA brands in the Chinese market.

• Culinary science and hospitality research
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• v.19 no.2
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• pp.130-148
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• 2013

Domestic pizza market in Korea is in the age of maturity, and competition in the market is getting intense. Brand personality that can prompt consumer sensibility is evaluated as a proper method to differentiate the image of a corporate rather than products or technology that can be copied easily by competitors. In this study, we examined the structural relationships among brand personality of pizza brands in Korea, customer-brand relationship quality, and repurchase intention with selected measurement based on Aaker's Big 5. Based on questionnaires answered by 291 customers, this study examined validity and reliability by using SPSS 16.0 and AMOS 5.0 for its hypotheses. The result of the study modelling were GFI=0.900, NFI=0.922, CFI=0.965, RMSEA=0.050 at the level of ${\chi}^2$=384.130(df=1.715, p<0.001). First, sincerity, competence, and sophistication of the pizza brand personality had a positive effect on intimacy. Second, sincerity, competence, sophistication, and strength of the pizza brand personality had a positive effect on brand partner quality. Also, intimacy and brand partner quality had a positive effect on repurchase intention. Therefore, in the practical perspective, pizza brand management can utilize the findings of specific pizza brand personality in creating a competitive edge for marketing.

• The Journal of the Korea Contents Association
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• v.11 no.10
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• pp.416-424
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• 2011

This study aimed to look into the Korean food consumption behavior, satisfaction, and loyalty between segmented groups through Korean food market segmentation in accordance with brand personality. A survey was conducted to the Japanese residing in Korea and also Japanese tourists in Korea. For the statistic analysis, frequency analysis, factor analysis, anova, $x^2$ and cluster analysis were conducted with Hangul SPSSWIN 19.0. The results of an empirical analysis include the following. First, the brand personality of Korean food was deduced into the following five levels: sincerity, ruggedness, competence, sophistication, and excitement. As a result of stereotyping based on the above, it was classified into three groups involving an excitement pursuing group (18.7%), a sophistication pursuing group (59.7%), and a competence sincerity pursuing group (21.6%). Second, it was found that there was a significant difference in the demographic characteristics and Korean food consumption behavior between segmented groups. Third, there was a significant difference also in satisfaction with and loyalty to Korean food between segmented groups. Specifically, competence and sincerity pursuing groups were discovered to exhibit the highest satisfaction and loyalty when compared with any other of the groups. Accordingly, it would be necessary to conduct a Korean food marketing strategy appropriate for each segmented group.

• Journal of Korea Trade
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• v.25 no.2
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• pp.22-45
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• 2021

Purpose - This study aims to identify new attributes by analyzing reviews conducted by global automaker customers and to examine the influence of these attributes on satisfaction ratings in the U.S. automobile sales market. The present study used J.D. Power for customer responses, which is the largest online review site in the USA. Design/methodology - Automobile customer reviews are valid data available to analyze the brand personality of the automaker. This study collected 2,998 survey responses from automobile companies in the U.S. automobile sales market. Keyword analysis, topic modeling, and the multiple regression analysis were used to analyze the data. Findings - Using topic modeling, the author analyzed 2,998 responses of the U.S. automobile brands. As a result, Topic 1 (Competence), Topic 5 (Sincerity), and Topic 6 (Prestige) attributes had positive effects, and Topic 2 (Sophistication) had a negative effect on overall customer responses. Topic 4 (Conspicuousness) did not have any statistical effect on this research. Topic 1, Topic 5, and Topic 6 factors also show the importance of buying factors. This present study has contributed to identifying a new attribute, personality. These findings will help global automakers better understand the impacts of Topic 1, Topic 5, and Topic 6 on purchasing a car. Originality/value - Contrary to a traditional approach to brand analysis using questionnaire survey methods, this study analyzed customer reviews using text mining. This study is timely research since a big data analysis is employed in order to identify direct responses to customers in the future.