• The Journal of Asian Finance, Economics and Business
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• v.7 no.12
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• pp.33-42
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• 2020

The neoclassical economic supporters have suggested that foreign direct investment and raw material (e.g., coal, electricity, gas, and oil) are critical economic growth inputs. Few previous studies have analyzed the relationship between foreign direct investment and energy consumption on economic growth. However, existing studies usually have applied the frequentist inference. The limitation of the frequentist inference is that, if the coefficient of the independent variable is not yet significant, then conclusions might be unreliable. By applying the Bayesian approach, the main aim of this study is to revisit the impact of foreign direct investment, electricity consumption, and urbanization on economic growth in six ASEAN countries from 1980 to 2016. The obtained outcome shows that the impact of electricity consumption is evident and positive on economic growth in both frequentist and Bayesian inferences. However, the influence of foreign direct investment is not identified by frequentist inference, while Bayesian inference provides evidence that foreign direct investment is a moderately positive impact on economic growth. The empirical result from Bayesian inference contributes to the literature on foreign direct investment modeling and could be of significant importance for a more efficient foreign direct investment attracting and achieve sustainability in the long-term.

• IE interfaces
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• v.20 no.3
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• pp.235-244
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• 2007

The Toyota Production System (TPS) developed by Toyota Motor Corporation is a management principle and production method to improve values added thorough elimination of waste. Since the oil shock in 1970s, the TPS has drawn the worldwide attentions as a main factor of competitiveness of Japanese manufacturing system and has been studied and implemented in many countries regardless of size and types of industry. While the principles of the TPS system are known widely, the framework and the implementation methodology are rarely discussed, especially in the domestic companies. In this paper, the framework of the TPS system are developed as a view of the domestic practitioners and researchers, with which the introduction strategy can be developed as a guideline.

• Journal of the Korean Society of Food Culture
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• v.28 no.3
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• pp.213-233
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• 2013

During the late Chosun Dynasty, famine was the main cause of climate ecological background, such as frequent floods and droughts, the Little Ice Age (小氷期), and epidemic. In addition, it influenced the social and cultural background, such as failure toprovide Yiangbeop (移秧法), breakout of war and revolt, loss of farming cattle, grain consumption due to brewing, the concentration of wealth, and tenacity of shamanism. "Limwongyungjeji" "Injeji" of the last part had been written about the famine; wild plants to raw, dried, or dried powder, or processed pharmaceutical goods. Grain couldbe replaced in more than 330 types of famine relief food and recipes; 170 species of vegetables, 34 species of vegetation, and 33 kinds of fruit - the botanic foods were mainstream. Edible parts of these plant foods are those of 14 kinds: 175 species of leaves, 113 species of sprouts, 99 kinds of buds, and other fruits, roots, stems, flowers, etc. The recipe (poaching, salting, and oil-marinated) was written 186 times or forsoup, raw, and boiled.

• Journal of Electrical Engineering and Technology
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• v.12 no.5
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• pp.1916-1924
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• 2017

Fossil oil, as the main energy of transportation, is destined to be exhausted. The electrification of transportation is a sustainable solution to the energy crisis, since electric power could be acquired from the inexhaustible sun, wind and water. Among all the problems that hinder the development of Electric Vehicle (EV) industry, charging issue might be the most prominent one. In this paper, the service process of a charging station with Battery Energy Storage System (BESS) is analyzed by means of $Cram{\acute{e}}r$ - Lundberg model which has been intensively utilized in ruin theory. The service quality is proposed in two dimensions: the service efficiency and the service reliability. The arrival rate and State of Charge (SOC) upon arrival are derived from 2009 National Household Travel Survey (NHTS). The simulations are performed to show how the service quality is determined by the system parameters such as the number of servers, the service rate, the initial capacity, the charge rate and the maximum waiting time. At last, the economic analysis of the system is conducted and the best combination of the system parameters are given.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.3
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• pp.149-156
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• 2020

The study aims to investigate a close relation between macro and non-macro variables on stock performance of tourism companies in Korea. The sample used in this study includes monthly data from January 2001 to December 2018. The stock price index of the tourism companies as a dependent variable are obtained from Sejoong, HanaTour, and RedcapTour as three leading Korean tourism companies that have been listed on the Korea Stock Exchange. This study assesses the tourism stock performance using the quantile regression approach. This study also investigates whether global crisis events as the Iraq War and the global financial crisis as non-macro variables have a significant effect on the stock performance of tourism companies in Korea. The results show that the oil prices, exchange rate and industrial production have negative coefficients on stock prices of tourism companies, while the effects of tourist expenditure and consumer price index are positive and significant. We estimate the result of quantile regression that non-macro determinants have statistically a significant and negative effect on tourism stock performance because the global crisis could threaten traveler's safety and economy. Overall, empirical results suggest that the effects of macro and non-macro variables are statistically asymmetric and highly related to tourism stock performance.

• Proceedings of the Korean Institute of Building Construction Conference
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• 2017.05a
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• pp.93-94
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• 2017

This study have derived the big issue of overseas construction through big data analysis. For identification of big issues on overseas construction, domestic online articles, 30 daily newspapers like the JoongAng Ilbo, 7 construction related articles including construction economy and 1,759 local newspapers and small media companies were analyzed from October 1st, 2015 to September 30th, 2016. 13,884 cases in total were used for big data analyses and big issue candidates were identified. The analysis result is as shown below. First, looking into major issues on overseas construction for a year, construction orders in the Middle East decreased because of the drop in oil prices. Accordingly, there were discussions on concerns and crises we may face as profitabilities worsened in overseas construction. Second, analyzing main concern based on 8 key words on overseas construction among construction issues for the last one year, it was found as following: Region (29.4%), Business environment (21.4%), Group (15.8%), Profitability (14.5%), Policy and Institution (7.8%), Market environment (4.2%), Business (project) (4.15%), and Education (3.2%). Third, among 30 issues on 8 key words, 10 key issues that are likely to spread and continue were identified. Then, a semantic network map among key words and centrality were analyzed.

• Journal of Aerospace System Engineering
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• v.8 no.3
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• pp.34-40
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• 2014

Since the global economic crisis in year 2008, the world civil helicopter market has been growing recently. According to the market outlook in the next decade, the demand of civil helicopter will be driven by the demand of Private & Corporate, Oil & Gas, Off-shore and EMS(Emergency Medical Service) usages. On the other side, the demand of military market will be driven by the modification and upgrading for life extension or performance enhancement than the new helicopter development for replacing old models. To summarize these situations, the demand of MRO(Maintenance, Repair & Overhaul) market has also been on the rise because of the demand due to above several usages in civil side and the life-extension in military side. Through the MRO market analysis for characteristics, developmental trends and a supply chain, this paper describes that the potential of MRO business is considerably large as a propulsive power of domestic helicopter industry. And also, it proposes the construction direction of MRO network because the domestic industry must make the developmental awareness and reliability a stepping-stone towards own helicopter.

• Proceedings of the Korean Institute of Navigation and Port Research Conference
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• 2002.03a
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• pp.39-51
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• 2002

Online exchange is a cost-effective approach to trade goods and information among multiple sellers and buyers. Shipping industry includes lots of global entities such as shippers, liners, ship owners and shipping agents. Marine insurance companies and ship repairers and many other groups are also supporting the industry. However, international shipping exchanges are located on few cities in the world. Its our motivation that a shipping market can be online so that market participants do the dealing while sitting where they are with more efficient manner, preferable price and larger pool of candidates of trading partners. This paper presents Korean governmental project of building a cyber shipping exchange. The exchange covers ship sale and purchase, charter, insurance, freight futures, repairs, supplying of ships oil and database service. The workflows of each business were analyzed and designed to fit for online environment. The project includes design of trading mechanism, online documents, data flow, data storage and security. Online match making and trading mechanisms such as auction, reverse auction, bid are used. The whole trading process involves multiple organizations and business processes. So, this Paper focuses on how each organization would play their roles so that users can complete transactions with integrated and transparent view. The online exchange selves also as maritime portal site that links to other sites for cooperation vertically or horizontally, and serves database and information in global perspective. This paper also issues and discusses the justification of an online shipping exchange

• Communications for Statistical Applications and Methods
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• v.17 no.3
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• pp.473-481
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• 2010

Forecasting for air demand such as international passengers and freight has been one of the main interests for air industries. This research has mainly focus on the comparison of the performances of the multivariate time series models. In this paper, we used real data such as exchange rates, oil prices and export amounts to predict the future demand on international passenger and freight.

• Journal of Fashion Business
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• v.18 no.3
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• pp.29-44
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• 2014

As there is a growing interest in natural ingredients, they are actively being studied to improve damaged skin However, the lip cosmetics are still being inadequately studied on the exposure of lips to several stimuli and easy flow of chemical on the lips into the body. This study was conducted to make a clinical evaluation on the real effect of lip balm on lips, by extracting oil from Chamaecyparis obtusa and Lithospermum erythrorhizon that are known to play a positive role on skin. The following three natural lip balms were produced: lip balm made with Chamaecyparis obtusa(LBWCO), lip balm made with both Chamaecyparis obtusa and Lithospermum erythrorhizon(LBWCOLE), lip balm made without Chamaecyparis obtusa or Lithospermum erythrorhizon(LBWICOLE). The quality of LBWCO or LBWCOLE was evaluated to be higher than that of LBWICOLE. LBWCO and LBWCOLE had the highest satisfaction and purchase intention, respectively. As stated above, Chamaecyparis obtusa and Lithospermum erythrorhizon could be the ingredients of lip balm, and they were effective in improving damaged lips. Consequently, this study will provide opportunities to explore excellent ingredients to be used in natural lip balm. Also, studying lip cosmetics using only the natural ingredients will provide opportunities to expand positive images of ingredients for producing lip cosmetics.