• Journal of the Korea Academia-Industrial cooperation Society
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• v.16 no.9
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• pp.6315-6324
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• 2015

This study analyses the effects of household finances on rental price of apartment in Seoul which play a major role in real estate policy. We estimate VAR models using time series data. Economy variables such as sales price of apartment in Seoul, consumer price index, hiring rate, real GNI and loan amount of housing mortgage, which relate to household finances and influence the rental price of apartment, are used for estimation. The main findings are as follows. In the short term, the rental price of apartment is impacted by economy variables. Specifically, Relative contributions of variation in rental price of apartment through structural shock of economy variables are most influenced by their own. However, in the long term, household variables are more influential to the rental price of apartment. These results are expected to contribute to establish housing price stabilization policies through understanding the relationship between economy variables and rental price of apartment.

• International Area Studies Review
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• v.15 no.3
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• pp.349-368
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• 2011

The emergence of new multipolar world economy along with the predominant growth of emerging economies encourages these emerging countries to internationalize their currencies. Currently the discrepancy between qualification and status of international currency is easily observed, and the emerging market currencies are no doubt underestimated considering their share of the world's economic size and trade volume. This paper studies the determinant factors of currency internationalization for five key currencies (US Dollar, Yen, Euro, Pound, and Swiss Franc). The analysis shows economic size, trade volume, and the stability of price and exchange rate are most important. Based on this result, Chinese Yuan is forecast to become a new international currency in the near future. Therefore, Korea needs to preempt the issue of regional economic integration, and even currency integration, by taking into account the possibility of internationalized Yuan.

• The Journal of Information Systems
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• v.31 no.2
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• pp.263-288
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• 2022

Purpose Recently, the tours and activities (TAA) market provided by online travel agencies (OTA) has grown rapidly and has become the third-largest in the travel industry. However, compared to its practical proliferation, TAA has not yet received much academic attention. This study aims to discuss the effect of the four domains (e.g., educational, entertainment, escapist, and esthetic experiences) of the experience economy on users' memorable tourism experiences (MTE), satisfaction, and loyalty in the context of TAA. Moreover, the study investigates how this mechanism varies depending on the tour guides' professional competency. Design/methodology/approach This study developed a research model based on the S-O-R framework. Using the survey method, data were collected from consumers who had experienced TAA offered by OTA more than once within one year. A total of 307 respondents (consumers) were used for the final analysis, and developed hypotheses were tested using a structural equation model technique. Findings The results of this study are as follows. First, educational, entertainment, and escapism experiences in the experience economy positively affect MTE. Second, within the experience economy, entertainment and esthetic experiences have a positive effect on satisfaction. Third, MTE positively influences satisfaction, repurchase intention, and recommendation intention. Fourth, satisfaction has a positive impact on repurchase and recommendation intentions. Finally, according to the level of tour guides' professional competency, there is a significant difference in the effect of escapism experience on MTE/satisfaction.

• Asia-Pacific Journal of Business
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• v.14 no.2
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• pp.51-61
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• 2023

Purpose - Since COVID-19, the government's expansion of liquidity to stimulate the economy has resulted in an increase in private debt and an increase in asset prices of such as real estate and stocks. The recent sharp rise of the US Federal fund rate and tapering by the Fed have led to a fast rise in domestic interest rates, putting a heavy burden on the Korean economy, where the level of household debt is very high. Excessive household debt might have negative effects on the economy, such as shrinking consumption, economic recession, and deepening economic inequality. Therefore, now more than ever, it is necessary to identify the causes of the increase in household debt. Design/methodology/approach - Main methodology is regression analysis. Dependent variable is household loans from depository institutions. Independent variables are consumer price index, unemployment rate, household loan interest rate, housing sales price index, and composite stock price index. The sample periods are from 2017 to May 2022, comprising 72 months of data. The comparative analysis period before and after COVID-19 is from January 2017 to December 2019 for the pre-COVID-19 period, and from Jan 2020 to December 2022 for the post-COVID-19 period. Findings - Looking at the results of the regression analysis for the entire period, it was found that increases in the consumer price index, unemployment rate, and household loan interest rates decrease household loans, while increases in the housing sales price index increase household loans. Research implications or Originality - Household loans of depository institutions are mainly made up of high-credit and high-income borrowers with good repayment ability, so the risk of the financial system is low. As household loans are closely linked to the real estate market, the risk of household loan defaults may increase if real estate prices fall sharply.

• Environmental and Resource Economics Review
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• v.27 no.3
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• pp.495-520
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• 2018

Because of structural changes in the international oil market and the economy, it is widely recognized that the impact of oil shocks on the economy has weaken since the mid-1980s. This study tries to examine the validity of the recent perception about the relationship between oils shocks and the economy, estimating the time-varying effects of oil shocks on the Korean economy. The results show that the dynamic effects of oil shocks normalized to a one standard deviation has been relatively constant, in contrast to the recent perception and a number of existing studies. In addition, because the shape of impulse response functions at each point in time spanning from 1984:II to 2017:IV has not been changed significantly, it seems that the propagation mechanism of oil shocks also has not been substantially altered. These findings indicate that even though structural changes of the economy, such as the reduction in the share of oil consumption and the spread of high-efficiency energy technologies, have been rapidly progressed, it is not still enough to offset the negative effects of oil shocks. Rather, it seems that the recent perception about the shrinking effects of oil shocks is mainly due to the assumptions that do not reflect changes in the size of oil shocks. In particular, this problem appears more pronounced in the case of the typical a one standard deviation increase oil shock under homoskedasticity assumption, which is widely adopted in the most VAR analyses. Therefore, in estimating the effects of oil shocks on the economy, it is important to specify the correct model and normalization method, to reflect changes in the size of oil shocks.

• Journal of Korean Port Research
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• v.6 no.1
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• pp.93-110
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• 1992

The most change in this century is supposed to be declination of ideology, and block of world economy. Addition to down full of cold war atmosphere around Northeast Asia, not only economic and social mood in this region is dramatically changed, but also it gave birth to the block of Northeast economy that accerlated new hub of world economy. According to dramatic change of economic surroundings the dynamic potential of growth in this region will be guided to enlarge inter-regional trade and increase volume of trade, thus suggests to grow steadily transportation. cargos in this region will have to arrange the system of delivery and inner transportation, accessary facilities, inter-regional harbors if North America and EC has connected easily. As have accerlated GATT and UR represented multilateralism and regionalism, it has regulated to increase trades of region due to relief of the trade barrier through specific areas has agreed with separately. The flow of regionalism of world economy has appeared to realize EC and NAFTA centered U.S.A, and also has presented to free trade region or one-size market agreement in Asia as APEC, EAEG in Malaysia, and etc. In defense to this block and internationalism of world economy, Pusan has to come forward to the hub of Northeast others has proposed a project to dominate the Northeast, Economy Association Agreement as Far East comprehensive development project in USSR, Hunchun development project in NK, and East Sea development project in PRC, Niigate regional development in Japan, Duman River development project in NK, and East Sea development project in Korea. As this exercise has proceed, Pusan also have arranged development strategy definitely and prepared provisions systematically. Engaging to participate center of delivery system is meant to be completed complex functions, namely the transfer storage processing & assembly function of international commodity. Pusan has ability to be terminal point of TSR. it had been connected to EC as the biggest economy block and TKR as complex transportation root to Far East, it would be the center of inground and seabase delivery terminal to Rotterdom as the biggest container pier and major piers to North-East and South East Asia. In order to provide a Role of 21 century's internationalization, Pusan has appealed to participate in management information research and development connected to Pohang-Ulsan-Changwon-Masan, and has utilized efficiently the resources such as man, material, money and information.

• Journal of Global Scholars of Marketing Science
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• v.7
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• pp.1-23
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• 2001

Two of most important industries in Changwon, the distribution industry and the construction industry have been threatened by the recent economic downturn. Rehabilitating plans for traditional markets tend to focus on renovation of facilities rather than on the managerial solution. Traditional market plays vital roles as a social safety net and a source of development of regional economy. Modernization of facilities and differentiation of business areas are two most important issues for the revitalization of the traditional market. Traditional markets should adopt a strategy which can make a difference in characteristics of the market, regional culture, regional industry and consumer behavior of the region. Purposes of this study are: first, to understand characteristics of traditional markets in Changwon, second, to draw implications for administrative and financial supports for traditional markets in Changwon.

• Korea Journal of Hospital Management
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• v.9 no.1
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• pp.1-21
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• 2004

The United States has a unique health care system, which is unlikely any other health care systems in the world. The major part of basic functional components of the system -financing, insurance, delivery, and payment- is in private hands. A market-oriented economy invites the participation of numerous private entities that are interested in carrying out the key functions of health systems. Due to this central feature, U.S.health care is not delivered through a network of interrelated components designed to work together coherently. For lack of standardization, the various components of the system fit together only loosely. The involvement of numerous players in the key functions leads to duplication, overlap, inadequacy, inconsistency, and waste, which add to the complexity and also make the system inefficient. Hence, cost containment remains an elusive goals. Moreover, the system falls short of delivering equitable services to all americans, though consumption of health care services is the largest in the world. On the other hand, United States leads the world in the latest and the best in medical technology, medical training, and research. It offers some of the most sophisticated institutions, products, and processes of health care delivery. This article discuss the characteristic features of the U.S. health care system. and its performance, trying to seek its implication on Korean health care system.

• The Journal of Information Technology
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• v.9 no.3
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• pp.15-25
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• 2006

Currently there is fast flow of America and South Korea FTA negotiation being issued. Aim of FTA, by having free trade between two countries to gain their economical benefit. Few benefits can be expected by Korea joining FTA with America It will increase export as well as increase in overseas investment and this will lead to booming of services industry. After America and Korea FTA Discussion being announced around the world, Australia and EU also has interest of doing FTA with South Korea, which mean that America and Korea FTA has effect of bring in the overseas interest of FTA to South Korea. Expectation of American can be, create the market in South Korea to gain benefit as well as able to check out the economical issue of north east Asia country such as China and Japan. Since American side has high agreement with the make FTA with South Korea, South Korea now has to make own decision about this matter. Since Korean economy highly influence by world trade, to survive from market competition with China and Japan, Korea must involve in Free trade with world.

• Korean Journal of Poultry Science
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• v.39 no.4
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• pp.269-271
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• 2012

The chicken has been growing in Korea for more than a thousand years according to the history book and commercially rising for broiler meat only since 1960's. As income increased mainly due to improved economy, it changes the habit of eating especially chicken meat. The structure changes into a coordinated production and marketing system which forced the prevailed small and independent producers to become a contract farmer under the vertically controlled practices. This coordinated structure began in 1970's and evolved continually to occupy around 90 percent of the market in 2010 with some ten (10) private brands being advertising. The industrial organizations have also conducted the generic promotion by a farmer's check-off program. Over the past 20 years, chicken import steadily increased to meet about 25 percent of the domestic market while the export showed negligible growth. As a whole, the structure change and international trade devoted to increased chicken consumption from 2 kg with the independent operation to 11 kg currently under the coordinated system and import. It is predicted that chicken consumption will grow in years to come and the import will also increase in addition to local productions, considering the free trade agreement that has already been in practice with EU and US to open the market eventually from all sources of supply worldwide.