• Proceedings of the Korean Institute of Building Construction Conference
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• 2023.05a
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• pp.343-344
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• 2023

In order to expand its entry into not only the domestic construction market but also overseas global markets, it is necessary to secure technological competitiveness, and as a fundamental measure, it is necessary to increase the proportion of R&D investment and establish and revitalize R&D organizations. Therefore, the purpose of this study is to analyze construction sales and construction R&D investment for global construction companies in Korea and Japan, derive implications, and provide basic data for government policy establishment and global construction company strategy establishment. As a result of analyzing R&D investments in construction companies in Korea and Japan, it can be seen that Japanese construction companies have higher R&D investment costs compared to sales compared to Korea. In particular, the proportion of R&D investment continues to increase year-on-year, strengthening global competitiveness due to technology development. In addition, Japanese construction companies have established a technology research institute to discover and conduct future R&D research such as advanced IT, disaster prevention, and environment.

• Korea Trade Review
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• v.46 no.2
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• pp.177-191
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• 2021

Based on the existing OFDI (outward foreign direct investment) literature, this study endeavored to verify how the corruption of host countries affects the partner strategy of EMNEs (emerging multinational enterprises) when EMNEs enter global markets through joint ventures. Following the existing literature, this study classified corruption and partner strategies into two categories, respectively. First, the corruption of host country was divided into grand corruption and petty corruption. Second, EMNEs' joint venture partner strategy was divided into home country partner joint venture and host country (i.e., local) partner joint venture. Our hypothesis suggested that the greater the host country's grand corruption, the more EMNEs would choose the host country partner, while the strong petty corruption leads to the preference of home country partner in host country. The hypotheses were verified with a sample of 890 foreign direct investment cases of Chinese multinational companies from 2005 to 2015. As a result of the study, regardless of the degree of corruption, it was found that they prefer joint ventures with home country partners when EMNEs enter the global market through joint ventures.

• The Journal of Industrial Distribution & Business
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• v.14 no.11
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• pp.27-35
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• 2023

Purpose: China's economy has changed considerably in recent decades. By delivering a comprehensive knowledge of the elements that support successful foreign direct investment (FDI) in China and practical insights for multinational firms operating in this dynamic environment, this research offers a new perspective and sets itself apart from previous studies. Research design, data and methodology: It is necessary to give a thorough overview of the body of information on successful FDI in China, which justifies the adoption of a systematic literature review. The study may use a wide range of studies because of this methodology, which guarantees that inferences have a solid and supported basis in data. Results: The findings in the present study have clarified how China's government policies and regulatory framework affect foreign direct investment (FDI). Previous studies have indicated that regulatory changes can significantly impact FDI. For instance, more foreign direct investment (FDI) has been drawn to liberalized industries such as technology and finance. Conclusions: In conclusion, for foreign direct investment (FDI) to be successful in China, it is essential to consider these four factors: local partnerships and cultural adaptation, market research and entry strategy, regulatory environment and policy support, and risk management and contingency planning.

• Journal of Intelligence and Information Systems
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• v.20 no.2
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• pp.59-71
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• 2014

System trading is becoming more popular among Korean traders recently. System traders use automatic order systems based on the system generated buy and sell signals. These signals are generated from the predetermined entry and exit rules that were coded by system traders. Most researches on system trading have focused on designing profitable entry and exit rules using technical indicators. However, market conditions, strategy characteristics, and money management also have influences on the profitability of the system trading. Unexpected price deviations from the predetermined trading rules can incur large losses to system traders. Therefore, most professional traders use strategy portfolios rather than only one strategy. Building a good strategy portfolio is important because trading performance depends on strategy portfolios. Despite of the importance of designing strategy portfolio, rule of thumb methods have been used to select trading strategies. In this study, we propose a SVM-based strategy portfolio management system. SVM were introduced by Vapnik and is known to be effective for data mining area. It can build good portfolios within a very short period of time. Since SVM minimizes structural risks, it is best suitable for the futures trading market in which prices do not move exactly the same as the past. Our system trading strategies include moving-average cross system, MACD cross system, trend-following system, buy dips and sell rallies system, DMI system, Keltner channel system, Bollinger Bands system, and Fibonacci system. These strategies are well known and frequently being used by many professional traders. We program these strategies for generating automated system signals for entry and exit. We propose SVM-based strategies selection system and portfolio construction and order routing system. Strategies selection system is a portfolio training system. It generates training data and makes SVM model using optimal portfolio. We make $m{\times}n$ data matrix by dividing KOSPI 200 index futures data with a same period. Optimal strategy portfolio is derived from analyzing each strategy performance. SVM model is generated based on this data and optimal strategy portfolio. We use 80% of the data for training and the remaining 20% is used for testing the strategy. For training, we select two strategies which show the highest profit in the next day. Selection method 1 selects two strategies and method 2 selects maximum two strategies which show profit more than 0.1 point. We use one-against-all method which has fast processing time. We analyse the daily data of KOSPI 200 index futures contracts from January 1990 to November 2011. Price change rates for 50 days are used as SVM input data. The training period is from January 1990 to March 2007 and the test period is from March 2007 to November 2011. We suggest three benchmark strategies portfolio. BM1 holds two contracts of KOSPI 200 index futures for testing period. BM2 is constructed as two strategies which show the largest cumulative profit during 30 days before testing starts. BM3 has two strategies which show best profits during testing period. Trading cost include brokerage commission cost and slippage cost. The proposed strategy portfolio management system shows profit more than double of the benchmark portfolios. BM1 shows 103.44 point profit, BM2 shows 488.61 point profit, and BM3 shows 502.41 point profit after deducting trading cost. The best benchmark is the portfolio of the two best profit strategies during the test period. The proposed system 1 shows 706.22 point profit and proposed system 2 shows 768.95 point profit after deducting trading cost. The equity curves for the entire period show stable pattern. With higher profit, this suggests a good trading direction for system traders. We can make more stable and more profitable portfolios if we add money management module to the system.

• Knowledge Management Research
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• v.21 no.3
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• pp.45-65
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• 2020

It is desirable to invest in wine that increases its value, but wine investment itself is unfamiliar in Korea. Also, the process itself is unreasonable, and information is often forged, because pricing in the wine market is done by a small number of people. With the right solution, however, the wine market can be a desirable investment destination in that the longer one invests, the higher one can expect. Also, it is expected that the domestic wine consumption market will expand through the steady increase in domestic wine imports. This study presents the consortium block chain framework for revitalizing the wine market and enhancing transparency as the "right solution" of the nation's wine investment market. Blockchain governance can compensate for the shortcomings of the wine market because it guarantees desirable decision-making rights and accountability. Because the data stored in the block chain can be checked by consumers, it reduces the likelihood of counterfeit wine appearing and complements the process of unreasonably priced. In addition, digitization of assets resolves low cash liquidity and saves money and time throughout the supply chain through smart contracts, lowering entry barriers to wine investment. In particular, if the governance of the block chain is composed of 'chateau-distributor-investor' through consortium blockchains, it can create a desirable wine market. The production process is stored in the block chain to secure production costs, set a reasonable launch price, and efficiently operate the distribution system by storing the distribution process in the block chain, and forecast the amount of orders for futures trading. Finally, investors make rational decisions by viewing all of these data. The study presented a new perspective on alternative investment in that ownership can be treated like a share. We also look forward to the simplification of food import procedures and the formation of trust within the wine industry by presenting a framework for wine-owned sales. In future studies, we would like to expand the framework to study the areas to be applied.

• The Korean Journal of Air & Space Law and Policy
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• v.24 no.1
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• pp.91-118
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• 2009

In the Republic of Korea, Regional Airlines from Jeju Air and Hansung Airlines have recently entered the domestic market to compete with the existing Legacy Airlines. In addition many of newly established regional low cost carriers like Air Busan, JeanAir, Easter Airline, are preparing to enter the jungle market. These circumstantial changes have come about as transportation competitiveness are getting weak in the market due to simultaneous expansion of surface modes such as a new opening of high-speed rail and extension of highways. The jumbled market entry by regional low cost carriers makes an enormous influence not only in managing transport network of existing carriers but also for the domestic policy of aviation authorities. It is too early to judge whether they would succeed or not. It is necessary to analyze the network operation of these regional carriers launching domestic routes and preparing to launch short distance international routes under the rapid changing market circumstances such as introduction of KTX or decrease in domestic routes by Legacy Airlines. Many regional airlines are to launch the routes connecting Korea-China-Japan, if they could ensure long-haul international routes successfully, it would follow that the difference between Legacy Airlines and Regional Airlines would decrease more and more, which would result in appearance of the $3^{rd}$or $4^{th}$Legacy Airlines The purpose of this study is to analyze the introduction of low cost carriers by regions and economic regional carrier network for non-scheduled air transportation market by taking a look at the regional airlines transportation network in the early stage of the domestic air transport market. For this purpose, cost and profit structure and management effect of transportation cost will be analyzed by comparing the presently operated routes of regional airlines with those of Legacy Airlines. And also demonstrative analysis demanded by the actual market will be achieved through surveys from experts, the actual airlines and travel agencies to build up transportation network.

• Journal of International Area Studies (JIAS)
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• v.22 no.2
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• pp.217-244
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• 2018

As Chinese insurance market grows rapidly due to market reforms, China got recognition as second-largest insurance market in the world in 2016. However Korean insurance companies have had difficulties to grow in Chinese insurance market despite Chinese participation in the World Trade Organization (WTO) and the growth of chinese insurance market. The reason for the decline in Korean insurance companies is economic retaliation due to the deployment of THAAD in Korea. However, this is not a fundamental reason. The underlying cause of the effects of economic retaliation is the result of insufficient negotiations in Korea-China FTA services sector. In Service sector of Korea-China FTA, the level of concession between Korea and China differs greatly, when comparing China and South Korea's FTA. In addition, it has only been a few years since China collected the position of the WTO Doha Agenda, which currently deals with concessions on intellectual property rights and services. More important is that the Korea-China FTA service sector, as it stopped short of being protected by the most-favored-nation state treatment level when Korean insurance companies entered China. Further negotiations to supplement the weak points in the Korea-China FTA service sector were promised in December 2017, but international tensions over THAAD deployment made it impossible to hold such negotiations. However, due to changes in international affairs in 2018, the first additional negotiation was decided and held. This paper implicates strategies of further negotiation between Korea and China for service and investment chapter. Consequently, the aim of this paper suggests directions how to re-enter Chinese insurance market to Korean insurance companies.

• Korea Trade Review
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• v.41 no.5
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• pp.325-351
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• 2016

This study empirically investigated the relationship among knowledge transfer, network(firm network and government network) and performance Korean MNCs' subsidiaries in terms of absorptive capacity and entry mode roles in China. For this, absorptive capacity was established as an independent variable, mediating variable, and moderating variable. And the entry mode was divided into single investment and joint venture and set to the moderating variable. Data for the analysis of actual proof was randomly selected from the companies which was established more than 3 years before KOTRA 'The overseas expansion Korean company directory (2014)'. Questionnaires to 138 Chinese subsidiaries of Korean MNCs were collected by FAX and E-mail. AMOS was utilized and collected data investigated the role of the absorption capacity and entry mode as the covariance structure analysis. The empirical analysis showed that absorption capacity has a direct influence on management performance as an independent variable with the network (firm network and government network). It only has a partial mediating role between enterprise networks and management performance, and no meaningful result was gained as its moderationg role bewteen the exogenous variable and management performance. And in terms of Korean companies' moderating role in entering China, they have a moderating role between government network, absorption capacity and management performance, but did not show a statistically significant result between knowledge transfer, enterprise network and management performance. Absorption capacity, as the variable affecting overseas subsidiary's management performance, should not be considered a mediating or moderating variable, but an independent variable. Since the joint venture is showing higher performance than single investment when going into the Chinese market, implication is provided for options in overseas expansion. But this research has the limitation in generalization because it is aiming at the subsidiaries of the Korean company investing in China. Therefore, it is more desirable in the future to conduct a study of the subsidiary of the Korean company entering several countries. It also has limitations in generalization, because the research was conducted using a limited number of variables, despite there are various factors affecting the management performance of Chinese subsidiaries.

• Journal of Distribution Research
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• v.11 no.1
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• pp.99-124
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• 2006

The purposes of the study are two-folds. First, it analyzes how factors other than price(e.g. delivery service, saving point policies, free gifts) impact total price for various products and different types of stores. Second, it analyzes how to increase market efficiencies through price level, price differences, and the frequency of price changes for different shops, various products and different types of transactions. By analyzing the price level within different types of stores, there found that prices at on-line store were lower than off-line shops. It also found price differences between pure on-line, hybrid, and off-line store. Comparing prices by product size, there found that pure on-line shops have a lower price compared to others. The results showed that on-line store had lower price variation compared to off-line shops. When comparing pure on-line store to hybrid store, hybrid store had lower price variation. In terms of the frequency of price changes, hybrid stores had higher price fluctuations. In terms of total price differences for delivery distances, pure on-line store had great price fluctuation, excluding cosmetic goods. In conclusion, if we consider price level and price fluctuations, on-line store had more efficiencies and was superior in terms of price effectiveness. Hybrid shops, on the other hand, had greater advantages for seasonal goods and dominant products. Therefore, market entry strategies should differ based on order quantity, type of store(pure on-line, hybrid, off-line), product characteristics(seasonality, product life), etc.

• Journal of the Korean Society of Marine Environment & Safety
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• v.26 no.5
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• pp.483-492
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• 2020

In this study, we compared and analyzed the Revealed Comparative Advantage (RCA) and Trade Specialization Index (TSI) based on ballast water management systems (BWMS) trade data, which are related to the International Maritime Organization (IMO) Ballast Water Management Convention to suggest the current status of Korea's industrial competitiveness and suggest future development directions for the BWMS industry. As international interest in eco-friendly vessels is expanding, the IMO is engaged in dramatic discussions and agreement-making related to marine emissions of pollutants from ships. IMO member states that must implement this convention are striving to develop technology and secure industrial competitiveness as major industries in the eco-friendly shipping sector, with the BWMS industry experiencing a high market entry barrier and the possibility of the leading market entrants gaining leadership. The Republic of Korea accounts for 17 (approximately 38 %) of the 45 BWMS that received final approval as of October 2019. Based on trade data relating to product codes HS842219, HS84212, and HS89, the RCA index and TSI were calculated and compared. The findings revealed that the Republic of Korea has relative inferiority compared to countries such as Germany and Denmark. Despite this, Korea's favorable industrial environment, which includes several IMO-approved BWMS technologies and the possession of domestic certification institutions, is likely to strengthen its competitiveness in the BWMS market.