• The Journal of the Convergence on Culture Technology
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• v.8 no.1
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• pp.291-298
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• 2022

Unexpected massive disasters have occurred around the world, causing enormous socio-economic damage. The military has long been enacting laws, organizing organizations and establishing systems for crisis and disaster management, but it did not consider the situation when military essential functions were suspended due to unpredictable and massive disasters. With the September 11 terrorist attacks, the U.S. military has developed COOP strategy aimed at continuing military essential functions in all crisis, and is contributed to national continuity by ensuring uninterrupted national security functions. Korean military has established a crisis and disaster management system, but focuses on managing and controlling disasters and crisis situations. Korean military needs a system to guarantee military essential functions even in national crisis beyond its management capabilities. In this study, We compared and reviewed the U.S. administration and military COOP guidelines and directives, ISO22301 international standards., and developed planning guidelines suitable for the Korean military situation by responding to detailed items based on ISO22301. In particular, the U.S. military(DoD, Army, Navy, Air Force) COOP guidelines were drawn and incorporated into the guidelines(such as protection and succession of command authority, the fulfillment of essential functions and operational security, etc.). The planning guidelines are expected to be used as reference materials for the introduction of COOP systems in the military and the establishment of plans in the future.

• Fire Science and Engineering
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• v.24 no.5
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• pp.10-25
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• 2010

As disaster potential power of modern society grows larger, to improve and reinforce efficiently a national system which prepares and responds disasters, analyzed the survey for government officials of the department disaster management. Following is the contents of this research. First, cooperative relationship to disaster management organizations. Second, necessity of law establishment related crisis and disaster department. Third, by recognition regarding disaster management situational variable, overall recognition regarding disaster management situation, overall recognition regarding crisis type, recognition regarding occurrence possibility along disaster scale. Fourth, by recognition regarding structural variable of disaster management, the National Emergency Management Agency regarding disaster management, related organization, recognition difference of local government. It is a research about confusion regarding step of prevention - preparation - correspondence - restoration.

• Asia-Pacific Journal of Business
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• v.15 no.1
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• pp.209-223
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• 2024

Purpose - This article analyzes the impact of macroeconomic variables of the United States, China, and Korea on KOSPI and VKOSPI, in that United States and China have a great influence on Korea, having an export-driven economy. Design/methodology/approach - The influence of US, China, and Korea interest rates, industrial production index, consumer price index, US employment index, Chinese real estate index, and Korea's foreign exchange reserves on KOSPI and VKOSPI is analyzed on monthly basis from Jan 2012 to Aug 2023, using multifactor model. Findings - The KOSPI showed a positive relationship with the U.S. industrial production index and Korea's foreign exchange reserves, and a negative relationship with the U.S. employment index and Chinese real estate index. The VKOSPI showed a positive relationship with the Chinese consumer price index, and a negative relationship with the U.S. interest rates, and Korean foreign exchange reserves. Next, dividing the analysis into two periods with the Covid crisis and the analysis by country, the impact of US macroeconomic variables on KOSPI was greater than Chinese ones and the impact of Chinese macroeconomic variables on VKOSPI was greater than US ones. The result of the forward predictive failure test confirmed that it was appropriate to divide the period into two periods with economic event, the Covid Crisis. After the Covid crisis, the impact of macroeconomic variables on KOSPI and VKOSPI increased. This reflects the financial market co-movements due to governments' policy coordination and central bank liquidity supply to overcome the crisis in the pandemic situation. Research implications or Originality - This study is meaningful in that it analyzed the effects of macroeconomic variables on KOSPI and VKOSPI simultaneously. In addition, the leverage effect can also be confirmed through the relationship between macroeconomic variables and KOSPI and VKOSPI. This article examined the fundamental changes in the Korean and global financial markets following the shock of Corona by applying this research model before and after Covid crisis.

• International conference on construction engineering and project management
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• 2009.05a
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• pp.1015-1022
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• 2009

Currently, Korean real estate market has experienced cooling down of the business because of the global economic crisis which resulted from the subprime mortgage lending practice. In response, the Korean government has enforced various policies at the base of deregulating real estate speculation, such as increasing Loan to value ratio (LTV) in order to stimulate housing demand and supply. However, these policies seemed to result in deep confusion in the Korean housing market. Furthermore, analysis for housing market forecasting, especially international financial crisis on Korean real estate market, has been partial and fragmentary, therefore comprehensive solution and systematical approach is required to analyze the real estate and real estate financial market including causal nexus between market determining factors. In an integrated point of view, applying the system dynamics modeling, the paper aims at proposing Korean Real Estate and Mortgage market dynamics models based on fundamental principles of housing market determined by supply and demand. We also find the impact of deregulation policies focusing on mortgage loan which is the main factors of policies.

• Journal of Construction Engineering and Project Management
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• v.1 no.3
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• pp.1-8
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• 2011

Available data on the recent global financial crisis (GFC) show that it lasted between the second quarter (Q2) of 2007 and the fourth quarter (Q4) of 2009. Australia is one of the first economies to fully recover from this crisis. This study explorles the role played by the Australian construction industry in stimulating economic growth during the recession. In order to investigate the macro-variability trend during the financial crisis, data were collected and analysed relating to the quarterly GDP of Australia and selected countries between Q1 2000 and Q4 2009. Specifically, changes in the construction industry's GDP were compared with aggregate GDP changes in Australian economy and similar indices in the 'Group of 7' (G7) countries and Organisation for Economic Co-operation and Development (OECD) countries. Moreover, specific attention was focused on Germany, France, Japan, United States of America (USA) and United Kingdom (UK). Graphical and Pearson's correlation methods were used to analyse the relationships between changes in construction GDP and Australia's overall economic growth during the recession. In addition, an attempt was made to develop a regression model for predicting economic growth during the recent recession using changes in gross fixed capital formation (GFCF), changes in construction GDP and the impact of these changes on national economy. Analysis shows a slight contraction in construction activities during the crisis; however construction triggered significant growth in the economy during the crisis period and afterwards. This appears to be the major difference between Australia and other major economies that have experienced a longer recession.

• Journal of Digital Convergence
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• v.18 no.2
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• pp.427-437
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• 2020

This article researched the changes of terrestrial local broadcasting companies in a crisis of management. According to the following: First, the structure of the internal organization of local broadcasting companies has been changed to put more emphasis on 'management'. Second, most of the interviewees responded that this change was an inevitable choice. However, some responded that their 'role identity' was changing in a negative direction. Third, these changes have led to the emergence of programs that could undermine public interest. It also showed an increase in the production of 'funding-based' programs and 'mobile first' programs.

• Management & Information Systems Review
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• v.39 no.2
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• pp.17-37
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• 2020

The purpose of this study is to investigate the global spillover effects through the existence of linear and nonlinear causal relationships between the US, European and BRIC financial markets after the period from the introduction of the Euro, the financial crisis and the subsequent EU debt crisis in 2007~2010. Although the global spillover effects of the financial crisis are well described, the nature of the volatility effects and the spread mechanisms between the US, Europe and BRIC stock markets have not been systematically examined. A stepwise filtering methodology was introduced to investigate the dynamic linear and nonlinear causality, which included a vector autoregressive regression model and a multivariate GARCH model. The sample in this paper includes the post-Euro period, and also includes the financial crisis and the Eurozone financial and sovereign crisis. The empirical results can have many implications for the efficiency of the BRIC stock market. These results not only affect the predictability of this market, but can also be useful in future research to quantify the process of financial integration in the market. The interdependence between the United States, Europe and the BRIC can reveal significant implications for financial market regulation, hedging and trading strategies. And the findings show that the BRIC has been integrated internationally since the sub-prime and financial crisis erupted in the United States, and the spillover effects have become more specific and remarkable. Furthermore, there is no consistent evidence supporting the decoupling phenomenon. Some nonlinear causality persists even after filtering during the investigation period. Although the tail distribution dependence and higher moments may be significant factors for the remaining interdependencies, this can be largely explained by the simple volatility spillover effects in nonlinear causality.

• Management & Information Systems Review
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• v.38 no.1
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• pp.181-199
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• 2019

The purpose of this study is to examine whether or not the volatility of the 1997~1998 Asian crisis still affects the monthly stock returns of Korea, Japan, Singapore, Hong Kong and China from 1980 to 2018. This study investigated whether the volatility has already fallen to pre-crisis levels. To illustrate the possible structural changes in the unconditioned variance due to the Asian financial crisis, we use the MRS-GARCH model, which is a regime switching model. The main results of this study were as follows: First, the stock return of each country was weak in the high volatility regime except Japan resulted by the Asian financial crisis from 1997 to 1998 until March 2018, and the Asian stock market has not yet calmed down except for the global financial crisis period of 2007 and 2008. Second, the conditional volatility has been significantly and persistently decreased and eliminated after the Asian financial crisis. Thus, we could be judged that the Asian stock market was not fully recovered(stable) due to the Asian crisis including the capital liberalization high inflation, worsening current account deficit, overseas low interest rates and expansion of credit growth in 1997 and 1998, but the Asian stock market was largely settled down, except for the 2007 and 2008 in Global financial crises. Considering the similarity between the Asian stock markets and the similar correlation of the regime switching, it may be worthwhile to analyze the MRS-GARCH model.

• The Journal of Industrial Distribution & Business
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• v.12 no.12
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• pp.25-33
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• 2021

Purpose: This paper estimates the impact of the epidemic crisis on election outcomes through investigating the effect of Covid19 crisis on election results of 21st General Election held in April 15th 2020 in Korea. Research design, data and methodology: This study employs Ordinary Least Square (OLS) method using district-level data from Seoul and Gyeonggi province available at National election data in Korea. Results: Despite the current crisis in Korea, Covid-19 has had positive effects on voter turnout on average, after controlling for other factors. On the other hand, the effect of Covid-19 on the voter turnout was negative in districts with a larger aging population and higher health insurance premiums. In addition, Covid-19 negatively impacted vote shares for the incumbent party, while its rival party saw gains in their votes. Conclusion: The effect of Covid-19 election outcomes in Korea is distinct from other countries due to the nationwide acknowledgment of the Korean government's achievement in managing the epidemic. This implies that the crisis management ability of a government is crucial in gaining support for an incumbent party in future elections. Countries facing upcoming elections need to implement acceptable Covid-19 restriction policies as well as economic support for compensation to reap similar benefits.

• Korea Journal of Hospital Management
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• no.spc
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• pp.96-106
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• 2016