• Proceedings of the Korean Institute of Communication Sciences Conference
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• 2004.07a
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• pp.181-181
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• 2004

• International Journal of Advanced Culture Technology
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• v.3 no.2
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• pp.1-14
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• 2015

The purpose of this paper is to reveal two problems in the existing inventory systems in retail market, and to suggest a Two-Bin System under Automatic Ordering System considering only base-stock. Large retailers already have a sophisticated inventory system based on an automatic ordering principle. However, why does the out-of-stock (OOS) happen in large discount stores in spite of having a good inventory system? This paper suggests two systems after finding the root causes concerning the previous question. For evaluating the performance of each system, the random 200 data set in each sample group was generated from MINITAB 16 and obeyed the Poisson distribution. The existing inventory system in retail market cannot help generating OOS due to indwelling contradiction in itself. The reasons are the ordering deadline and the relationship between ordering quantity and base stock. This paper also demonstrates that these previous studies on inventory fall into the closed loop. Also the paper shows that the performance of the replenishment policy was better than traditional methods dealing with ordering quantity and base stock.

• Journal of agriculture & life science
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• v.44 no.6
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• pp.201-211
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• 2010

This paper estimates the degree of market power of marketers in the Korean beef market, especially focusing on wholesale and retail marketing levels. Prices in various marketing levels show that there is a possibility of more price differentials than marketing costs in the Korean beef market. Annual price and quantity data are used to estimate the degree of market power in the wholesale and retail levels. The empirical results show that the domestic beef retail market is far from perfect competition and the wholesale market is relatively near to perfect competition.

• Journal of Distribution Science
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• v.11 no.9
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• pp.43-49
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• 2013

Purpose - The competitiveness of small- and medium-sized distribution companies has weakened with the entry of large distribution companies and Super Super Markets (SSMs). These companies have nationwide distribution networks and capital to take over street markets, thereby threatening the very survival of small merchants. In order to help these small- and medium-sized merchants, the government has recently reinforced distribution regulations for large distribution companies. Research design, data, methodology - The purpose of this study is to review domestic and foreign distribution regulations and to provide direction for establishing domestic distribution policies in the future. Results - The government must fully reassess its assistance policy for small and medium distribution companies to enable them to engage in differentiated competition with large retailers, based on their own strengths. This will allow all interested parties to coexist. Conclusions - Government assistance policies for small and medium distributors such as traditional markets must be reorganized. The objective is to ultimately protect small and medium distributors and allow them to coexist on their own strengths, rather than have regulations for large retail stores.

• Journal of Distribution Science
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• v.12 no.10
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• pp.75-84
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• 2014

Purpose - This article aims to examine whether the stock issuance of firms in the retail industry follows Myers' (1984) pecking order theory, which is based on information asymmetry. According to the pecking order model, firms have a sequence of financing decisions, of which the first choice is to use retained earnings, the second one is to get into safe debt, the next involves risky debt, and the last involves finance with outside equity. Since the 2000s, the polarization of the LEs (Large enterprises) and SMEs (Small and Medium Enterprises) arose in the retail industry. The LEs exhibited an improvement in growth and profitability, whereas SMEs had a tendency to degenerate. This study contributes to corroborating the features of financing decisions in the retail industry distinguished from the other industries. Research design, data, and methodology - This study considers the stocks listed on the KOSPI and KOSDAQ markets from 1991 to 2013, and is more concentrated on the stocks in the retail industry. The data were collected from the financial information company, WISEfn. The empirical analysis is conducted by employing two measures of net equity issues (and), which were introduced in Fama and French (2005), and can be calculated from firms' accounting information. All variables are generated as the aggregate value of the numerator divided by aggregate assets, which, in effect, treats the entire sample as a single firm. Substantially, the financing decisions of the firms were analyzed by examining how often and under what circumstances firms issue and repurchase equity. Then, this study compares the features of the retail industry with those of the other industries. Results - The proportion of sample firms that show annual net stock issues reaching the level of the year's average was 54.33% for the 1990s, and fell to 39.93% per year for the 2000s. In detail, the fraction of the small firms actually increases from 45.08% to 51.04%, whereas that of large firms shows a dramatic decline from 58.94% to 24.76%. Considering the fact that the large firms' rapid increase in growth after the 2000s may lead to an increase in equity issues, this result is rather surprising. Meanwhile, net stock repurchases of assets are considerably disproportionate between the large (-50.11%) and the small firms (-15.66%) for the 2000s. Conclusions - Stock issuance of retail firms is not in line with the traditional seasoned equity offering based on information asymmetry. The net stock issuance of the small firms in the retail industry can be interpreted as part of an effort to reorganize business and solicit new investment to resolve degenerating business performance. For large firms, on the other hand, the net repurchase can be regarded as part of an effort to rearrange business for efficiency and amplifying synergy across business sections through spin-off. These results can help the government establish a support policy on retail industry according to size.

• Environmental and Resource Economics Review
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• v.13 no.2
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• pp.219-243
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• 2004

Generally, electricity market has monopoly market structure because of need of enormous investment for infrastructure. However, the introduction of competition in network industry as electricity is a tendency of the world with decreasing the effects of economy of scale due to the advancement of technology. Now, electricity industry restructuring is in progress but the competition in electricity retail market is not in force yet in Korea. Whether a effective competition exist or not is very important to policy decision maker who drive restructuring, but there are small numbers of quantitative researches on that. In this study, we estimated the effectiveness of competition in the electricity retail market through switching costs. If switching costs are high, consumers actually can be locked in incumbent firm in spite of introduction of competition. Therefore switching is a critical factor to determine effectiveness of competition and to estimate the size of switching costs quantitatively can proffer the information about whether the competition in the electricity retail market is effective or not in the future. We estimated switching costs using consumer' stated-preference data by conjoint analysis. In according to estimation results, the cost of switching process is not so high, but the relative brand loyalty of an incumbent company is significantly high. And the price is considered as the most important factor choosing an electric service commodity. Based on the empirical results, it is possible to analyze the relationship between suppliers' competitiveness resulted from management efficiency and customers' switching possibilities. The paper therefore provides guidance for suppliers in deciding to enter into retail competition and for policy makers in introducing retail competition. And it has a significance of estimating the switching costs directly.

• Food Science of Animal Resources
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• v.33 no.3
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• pp.403-410
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• 2013

This study was performed to evaluate the microbiological contamination level of raw beef from retail markets in Seoul, Korea. The sampling and laboratory test were performed according to the procedure of "Standard for processing and ingredients specification of livestock product" and "Korean food code". Enterotoxin of Staphylococcus aureus isolates were detected using VIDAS$^{(R)}$ and PCR-based methods. Listeria monocytogenes serotyping and genotyping were carried out using Listeria antisera and L. monocytogenes Fingerprinting kit, respectively. A total of 48 samples were collected from 16 retail markets (butcher's shop: 5, department store: 6, supermarket: 5) in 2011. The level of total bacteria counts in the butcher's shop, department store and supermarket were $4.4{\times}10^3$ CFU/g, $3.9{\times}10^5$ CFU/g and $1.0{\times}10^4$ CFU/g, respectively. The concentrations of Escherichia coli of these three retail markets were $6.4{\times}10$ CFU/g, 7.6 CFU/g and $2.0{\times}10$ CFU/g, respectively. Salmonella species was not detected on all samples. However, S. aureus was isolated in the 3 samples (6.25%) from each type of three retail markets. L. monocytogenes was isolated in the 4 samples (8.3%) from department stores. The level of contamination of these foodborne bacteria was less than 100 CFU/g. The enterotoxin-encoding genes of S. aureus isolates were sea, seh, sei and sep gene. The gene similarity of L. monocytogenes isolated from two retail markets by Rep-PCR showed 57.8-98.1% and 68.1-98.1%, respectively. These results suggest that the HACCP guideline for environmental control in slaughterhouse and retail markets should be provided to prevent cross contamination and manage foodborne pathogens such as L. monocytogenes and S. aureus.

• Journal of Digital Convergence
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• v.19 no.5
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• pp.197-205
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• 2021

Recently, the retail industry has been increasingly demanding information technology convergence and utilization to respond to various external environmental threats such as COVID-19 and to be competitive using AI technologies, but there is a very lack of research and application services. This study is a CCTV video data-driven AI application case study, using CCTV image data collection in retail space, object detection and tracking AI model, time series database to store real-time tracked objects and tracking data, heatmap to analyze congestion and interest in retail space, social access zone.We present the orientation and verify its usability in the direction designed through practical implementation.

• Land and Housing Review
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• v.14 no.3
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• pp.37-53
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• 2023

This study conducted an empirical analysis of how different types of living retail businesses affected housing prices during the COVID-19 pandemic, with a particular focus on both global and local time series effects. The main findings are three folds: First, from a global perspective, the study discovered that the presence of living retail businesses had a significant impact on prices of nearby apartment, varying according to their type. Secondly, the impact of COVID-19 on the retail industry varied depending on the type of business. Thirdly, when viewed from a local standpoint, the impact of the retail business sector on apartment prices due to COVID-19 pandemic was substantial, varying across regions and business types. This implies that external shocks like COVID-19 have the potential to alter the role and perception of living retail businesses. In light of this, the study has put forth policy implications aimed at mitigating the adverse effects of living retail businesses and enhancing residential quality.

• Asia Marketing Journal
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• v.15 no.1
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• pp.107-128
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• 2013

When Korea's retail industry was liberalized, new store formats such as large discount stores and Super Supermarket(SSMs) have grown. New types of business have borne significant influence on traditional market. Traditional markets have been in gradual decline since they fail to meet to consumer's purchasing behavior. The South Korean government has been making sustained efforts to revitalize the modernization of traditional markets since 2004. This research is conducted to analyze how changes in the distribution of different types of distributors influence the consumer's purchasing behaviors depending on the changes in the market environment. The purpose of this research is to present a policy to invigorate consumer-oriented traditional markets by analyzing the consumption behavior among major retail channels at a point when competition among retail channels is becoming intensified. In order to examine the effect of the spatial competitive landscape among major retail channels on consumption behavior, an empirical analysis was conducted with 613 consumers in 6 cities nationwide, using the multiple regression model. This research identified three main areas of factors. The analysis result indicates that the physical factor (time required to go to the traditional market), socioeconomic factors (the number of vehicles owned and average monthly income), and competitive factors (intensity of competition in spatial locations and average monthly spending in supermarkets) have significant influence on consumption patterns of consumers. The findings present that the Korean government should go ahead with policies aimed to revitalize traditional markets, keeping in mind the factors that influence the consumption patterns of customers based on these results. We propose that the policy supporting traditional markets need to be a customized-strategy, considering traditional market's characteristic.