• Journal of Industrial Convergence
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• v.14 no.2
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• pp.33-38
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• 2016

The Korean shipbuilding industry, which started in the 1970s with the advance of three shipbuilding companies, has been ranked as the world's largest and most successful model of the heavy and heavy chemical industry in the world since the 1990s, and has become a driving force for Korea's economic growth for several decades, including job creation and trade surplus. The domestic shipbuilding industry has won a lot of orders in favorable market environment, expanded facilities and manpower, built many ships and delivered them to shipowners, earning a lot of foreign currency and creating a 'successful myth.' However, when the global economic crisis broke out in 2008, shipbuilding in Chosun was stagnant and shipbuilding orders sharply decreased.As the facility and manpower increased in the boom period, the economy and the facilities become overcrowded as a result of the crisis, signs of a crisis in 2013 begin to appear. In 2015, three major Korean shipbuilders lost more than 6 trillion won in operating losses. Now, Korea's shipbuilding industry is facing a crisis such as massive insolvency and restructuring. Would not it have been possible to prevent the loss and restructuring of a trillion won if we recognized the recession of the global economy and understood the appropriate timing of technological innovation and prepared countermeasures against the crisis? Therefore, we analyze trends and trends of global shipbuilding industry such as Europe, China, and Japan in the competition structure of the shipbuilding industry and identify the problems of our shipbuilding industry and suggest suggestions.

• Korean Journal of Health Education and Promotion
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• v.29 no.2
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• pp.71-81
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• 2012

Objectives: Effective and efficient response for public health crisis necessitate planning how to respond and mobilize the resources in schools. We preformed this study to develop the strategies to improve efficiency of school health education in an outbreak of pandemic disease. Methods: We tried to review the policies, regulations and response systems of all related sectors, and advanced cases associated with pandemic disease control measures by searching databases and on-line networks connected with the Korean Ministry of Education, Science and Technology. Results: It was important to implement a consistent and systematic approach for educational offices and schools to prevent confusion resulted from the inaccurate information. First, the systems and action plans for school health should be established to prepare and respond to an outbreak of pandemic disease. Secondly, the strategies to improve the efficiency of school health education in public health crisis should be in place. Finally, the personnel pool would be needed to provide the crisis management programs. Conclusion: In order for staffs and students to have abilities to respond in an outbreak of pandemic disease, comprehensive school health approaches and efficient educational efforts should be prepared in collaboration with related sectors.

• Analyses & Alternatives
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• v.3 no.1
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• pp.29-61
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• 2019

Within the discipline of International Relations (IR), the literatures on global governance (GG) and great power management (GPM) at best ignore each other, and at worst treat the other as a rival or enemy. On the one hand, the GPM literature, like both realism in all its forms, and neoliberalism, takes for granted the ongoing, disproportionate influence of the great powers in the management of the international system/society, and does not look much beyond that. On the other hand, the GG literature emphasizes the roles of smaller states, non-state actors and intergovernmental organizations (IGOs), and tends to see great powers more as part of the problem than as part of the solution. This paper argues that the rise to prominence of a non-traditional security agenda, and particularly of human security, has triggered a de facto merger of GPM and GG that the IR literature usually treated as separate and often opposed theories. We use the Ebola crisis of 2014-15 to show how an issue framed as human security brought about a multi-actor response that combined the key elements of GPM and GG. The security framing overrode many of the usual inhibitions between great powers and non-state actors in humanitarian crises, including even the involvement of great power military forces. Through examining broadly the way in which the Ebola crisis is tackled, we argue that in an age of growing human security challenges, GPM and GG are necessarily and fruitfully merging. The role of great powers in this new human security environment is moving away from the simple means and ends of traditional GPM. Now, great powers require the ability to cooperate and coordinate with multiple-level actors to make the GG/GPM nexus more effective and sustainable. In doing so they can both provide crucial resources quickly, and earn respect and status as responsible great powers. IGOs provide legitimation and coordination to the GPM/GG package, and non-state actors (NSAs) provide information, specialist knowledge and personnel, and links into public engagement. In this way, the unique features of the Ebola crisis provide a model for how the merger of GPM and GG might be taken forward on other shared-fate threats facing global international society.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.9
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• pp.39-49
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• 2020

This study empirically examines herd behavior for fast moving consumer goods (FMCG) sector stocks under varied market return conditions and the period during the global financial crisis and its aftermath. We examine the sample of stocks trading on the Nifty FMCG Index of the Indian equity market from January 2008 up to December 2018 using the dispersion measure of cross sectional absolute deviation and examine its relationship with the market return to explore herd phenomenon. Quantile regression estimate is used and the results of the study validate rational asset pricing models as the sector does not display herding. In contrast, anti-herd behavior at lower and median quantile values is observed. A possible reason can be the non-cyclical nature of the industry where investors rely more on the fundamentals rather than crowd chasing. We also findthe absence of herd phenomenon during the market asymmetries of bull and bear phases, extreme movements, the period of the global financial crisis, and afterward. We further examine herding under the impact of the information technology (IT) industry and conclude that significant return movements in IT sector impact dispersions in the FMCG industry. Also, there is a co-varying risk between the two sectors confirming the spillover in an integrated market.

• Journal of Korea Trade
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• v.26 no.4
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• pp.63-82
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• 2022

Purpose - Drawing on relational institutional theory, we explored how demographic similarity between board members of a firm and newly emerged political elites led to firms' increased financial resource acquisition such as leverage ratio and decreased export intensity amidst the Asian financial crisis. We also studied how a firm's leverage ratio and export intensity can further affect firm profitability and financial credit rating. Design/methodology - We revisited and explored a unique, unprecedented crisis that affected most Korean firms: the Asian financial crisis that coincided with a governmental shift from a conservative to a liberal party. We collected demographic information from 432 listed Korean firms' board members and 43 political elites of the Blue House from 1998-2000 to create a demographic similarity measurement. We collected firms' financial information, built panel data, and used ordinary least squares regression to test our theory. Findings - Our results showed that demographic similarity between a firm's directors and newly emerged politicians had a positive association with a firm's leverage ratio but a negative association with a firm's export intensity. A firm's leverage ratio had a negative relationship with firm performance measured by firm profitability and financial credit rating. A firm's export intensity showed a positive effect on firm performance. Originality/value - We highlighted that during an economic crisis that coincided with a governmental shift and change of leading political actors, firms exerted efforts to survey the environment and build new external stakeholder relationships to cope with the changing landscape. We proposed that in an emerging market like Korea where low levels of trust and favoritism are prevalent across society, one of the relational institutional strategies that firms can employ is the selection of directors with similar demographic characteristics to political elites based on factors including birthplace and school affiliations. We examined the efforts of firms to build political networks with newly empowered political elites during a financial crisis, and the consequences of establishing such networks. We highlighted that during a financial crisis, the demographic similarity between a firm's board members and newly emerged politicians can provide firms with access to financial resources but can also result in poor management and reduced effort to enhance its international competitiveness.

• Journal of Information Technology Applications and Management
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• v.28 no.5
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• pp.1-16
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• 2021

This paper attempts to explore the need and importance of values integration in educational activities to mitigate learning crisis and promote sustainable learning achievement. The traditional approach, commercial motive, focus on instrumental knowledge coupled with many other contemporary issues have collectively smothered the fundamental humanistic principles of education. To avert the situation and execute the core objectives, we need to shift our focus: a shift from instrumental knowledge to humanistic-transformational knowledge; a shift from the traditional approach of supplying and storing information to learning to deal with the real-world problems; a shift from head to heart. Values integration is an attempt to initiate and promote this shift. Rather than teaching values and moral principles under a particular subject heading, values need to be a part of everyday in-school and out-school activities. To concretize this concept, a model is proposed in this study as a holistic model of values integration via whole school ambiances and community support.

• Journal of Navigation and Port Research
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• v.44 no.3
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• pp.244-252
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• 2020

The 2008 global financial crisis was triggered by the Lehman Brothers crisis caused by the sub-prime mortgage crisis in the United States This crisis has had an impact on the globe's dry bulk shipping market by reducing dry bulk cargo volume. An oversupply of dry bulk carriers caused a serious recession in the globe's dry-bulk shipping industry and shipbuilding industry. In this situation, the Korean dry-bulk shipping companies were victims of the quagmire of a long recession since the global financial crisis and could not overcome this crisis. This condition forced them into severe financial risk Thus, it caused many shipping companies to file for bankruptcy. In this study, we classified Korean ocean-going dry-bulk shipping companies into two groups, that is, the solvent group and the insolvent group. We also separated the research period before and after the 2008 global financial crisis. Then we investigated the differences in the major financial ratios of the two groups by t-test and found that some financial ratios such as profitability ratios and growth ratios showed the difference between the two groups with statistical significance. The significance of this study is as follow. First, the shipping company management is also crucial for the systematic management of financial strength and business strategy, it is crucial to manage cargo which a high profitable freight. Second, the shipping company should be managed as a company with continued growth through efficient operation and management of ships.

• Journal of Information Technology Applications and Management
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• v.23 no.4
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• pp.25-39
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• 2016

Asset prices decline sharply and stock markets collapse when financial crisis happens. Recently we have encountered more frequent financial crises than ever. 1998 currency crisis and 2008 global financial crisis triggered academic researches on early warning systems that aim to detect the symptom of financial crisis in advance. This study proposes a risk recovery index for detection of good opportunities from financial market instability. We use SVM classifier algorithms to separate recovery period from unstable financial market data. Input variables are KOSPI index and V-KOSPI200 index. Our SVM algorithms show highly accurate forecasting results on testing data as well as training data. Risk recovery index is derived from our SVM-trained outputs. We develop a trading system that utilizes the suggested risk recovery index. The trading result records very high profit, that is, its annual return runs to 121%.

• KDI Journal of Economic Policy
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• v.41 no.1
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• pp.1-14
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• 2019

This paper studies whether export diversification mitigated the negative effect of the global financial crisis on exports using the Korean case. Specifically, we use annual data on the exports of 24 Korean manufacturing industries from 2000 to 2016 and examine whether the negative effect of the crisis on exports was less prevalent in industries that were more diversified in terms of country and product. We also examine whether export competitiveness, as measured by the revealed comparative advantage index by industry, had a mitigating effect on trade during the crisis. In order to study these issues, we use panel regression with a fixed-effect model for 24 Korean manufacturing industries. From our empirical analysis, we find that country diversification weakened the negative impact of the global financial crisis on Korea's exports, whereas neither product diversification nor export competitiveness did so.

• Journal of Contemporary Eastern Asia
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• v.14 no.2
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• pp.5-15
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• 2015

A growing number of studies have examined the relevance and impact of social media in building organizational resilience, which the ability to recover from a crisis, in the field of emergency management. However, few studies have assessed how these emergency response organizations perceive their own use of social media in crisis situations. In attempting to fill this gap, this study conducted a structured survey with emergency-response organization representatives in Seoul, South Korea, to examine how such organizations evaluate their utilization of social media in an urban emergency situation and how their social media uses are related to promoting organizational resilience during adverse events such as a flood. Overall, the findings imply that organizations are not yet taking full advantage of social media. Respondent evaluations of their own social media use in all three assessment areas-information provision, information dissemination, and emotional messages-were not satisfactory. However, their perceptions of how well they utilize social media were positively related to how they view their organizational resilience. Therefore, it may be that these organizations realize the powerful role of social media in building organizational resilience but lack the knowledge and experience to make the best use of social media services.