• Journal of Korean Society of Industrial and Systems Engineering
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• v.39 no.2
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• pp.103-112
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• 2016

As supply chains are globalized, multinational companies are trying to optimize distribution networks using a hub and spoke structure. In this hub and spoke network structure, multinational companies locate regional distribution centers at hub airports, which serve demands in their corresponding regions. Especially when customers put higher priority on the service lead-time, hinterlands of international hub airports become ideal candidate locations for the regional hub distribution centers. By utilizing excellent airport and logistics services from hub airports, regional distribution centers in the hub airports can match supply with demand efficiently. In addition, regional hub distribution centers may increase air cargo volume of each airport, which is helpful in the current extremely competitive airport industry. In this paper, we classified locational preferences into three primary categories including demand, service and risk and applied the analytic hierarchy process methodology to prioritize factors of locational preferences. Primary preference factors include secondary factors. Demand factor contains access to current and prospect markets. Service factor comprises airport and logistics perspectives. Service factor in terms of airport operations includes secondary factors such as airport service and connectivity. Service factor in terms of logistics operations contains infrastructure and logistics operations efficiency. Risk factor consists of country and business risks. We also evaluated competitiveness of Asian hub airports in terms of candidate location for regional hub distribution centers. The candidate hub airports include Singapore, Hong Kong, Shanghai, Narita and Incheon. Based on the analytic hierarchy process analysis, we derived strategic implications for hub airports to attract multinational companies' regional hub distribution centers.

• Nuclear Engineering and Technology
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• v.52 no.2
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• pp.248-257
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• 2020

This study presents an initial design for a novel system consisting in a coupled nuclear reactor and a phase change material-based thermal energy storage (TES) component, which acts as a buffer and regulator of heat transfer between the primary and secondary loops. The goal of this concept is to enhance the capacity factor of nuclear power plants (NPPs) in the case of high integration of renewable energy sources into the electric grid. Hence, this system could support in elevating the economics of NPPs in current competitive markets, especially with subsidized solar and wind energy sources, and relatively low oil and gas prices. Furthermore, utilizing a prismatic-core advanced high temperature reactor (PAHTR) cooled by a molten salt with a high melting point, have the potential in increasing the system efficiency due to its high operating temperature, and providing the baseline requirements for coupling other process heat applications. The present research studies the neutronics and thermal hydraulics (TH) of the PAHTR as well as TH calculations for the TES which consists of 300 blocks with a total heat storage capacity of 150 MWd. SERPENT Monte Carlo and MCNP5 codes carried out the neutronics analysis of the PAHTR which is sized to have a 5-year refueling cycle and rated power of 300 MW_th. The PAHTR has 10 metric tons of heavy metal with 19.75 wt% enriched UO₂ TRISO fuel, a hot clean excess reactivity and shutdown margin of $33.70 and -$115.68; respectively, negative temperature feedback coefficients, and an axial flux peaking factor of 1.68. Star-CCM + code predicted the correct convective heat transfer coefficient variations for both the reactor and the storage. TH analysis results show that the flow in the primary loop (in the reactor and TES) remains in the developing mixed convection regime while it reaches a fully developed flow in the secondary loop.

• Journal of Korean Society of Rural Planning
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• v.25 no.2
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• pp.63-74
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• 2019

As the awareness of food security has increased, the Korean government has established national projects, such as Saemangeum proclaimed land, to secure sources of grain. Saemangeum is a large-scale agricultural area that was constructed to maintain preparedness for unstable food markets. This study aims to develop a $6^{th}$ Industrialization Model (SIM) for Saemangeum Grain Complex by applying feasible strategies to wheat and two-rowed barley which have low self-sufficiency rates. In addition, this study estimates the potential economic value of each development strategy associated with a sixth industrialization model to create higher added values from production, processing and tourism experiences. The strategic plan for primary, secondary, and tertiary industries is to combine cultivating and processing wheat and two-rowed barley for sales and linking them to tourism experience. This study shows value added from the combination of the primary, secondary and tertiary industry of wheat and two-rowed barley are 7.5 and 23.0 times more than those of the primary and tertiary industry combination, respectively. Through branding Saemangeum Grain Complex's products, such as Saemanguem bread and craft beer, would further enhance the economic benefits derived from the complex.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.58
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• pp.149-177
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• 2013

This article introduces and briefly examines the Uniform Rules for Forfaiting (URF)(ICC Publication No. 800), which were prepared by a joint project of the Banking Commission of the International Chamber of Commerce (ICC) and the International Forfaiting Association (IFA), and became effective on January 1, 2013. Forfaiting is a kind of trade financing technic performed by way of a sale and purchase of payment claim between its seller and its buyer, the forfaiter, on a without recourse basis. URF is designed to facilitate global trade finance and embraces all the international payment instruments which are currently used and will be newly developed in the future. URF is expected to be a set of standardized terms and conditions for both the primary and secondary forfaiting markets. In this context, this article first looks into the concept of the forfaiting and certain features and structure of forfaiting transactions. Then this article moves to discussing URF itself. For this it examines (i) the nature and scope of URF and some important definitions provided in URF, (ii) some provisions of URF that apply to the delivery of documents to the forfaiter, the examination, and the acceptance or refusal, of such documents by the forfaiter, and (iii) the payment of purchase price by the forfaiter to its seller, including the matter of "payment under reserve" and repurchase by the seller from the forfaiter. Finally, this article examines liabilities of the parties concerned, before conclusion.

• Journal of Distribution Science
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• v.18 no.5
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• pp.71-81
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• 2020

Purpose: This case study illustrates the successful entry of Saudi Aramco in the Korean market and how it grows to become one of the world's largest integrated energy enterprises. Research design, data and methodology: This case investigates diverse secondary sources to examine the entry strategy of Aramco in Korea, such as several interviews including public and anonymous dialogues, periodicals, dispatches (i.e. news articles and magazines), annual reports, industrial reports, and others. Results: The main concern for the international strategic approaching of Saudi Aramco is to enter into Korean market by joint venture with SsangYong Oil (today's S-Oil Corporation) in 1991 and finally, ending by Acquisition of S-Oil in 2015. This acquisition of local No.3 company, S-Oil, in Korea is the successful case in Asian Markets overcoming liability of foreignness. Moreover, Saudi Aramco's global distribution strategy through localization in the Korean market is appropriate given the market conditions, timing, effectiveness, and efficiency by sharing their resources and collaborating. Conclusions: It would be valuable, unique, and real story to analyze global leading company's entry and globalization strategy in overseas market. In addition, this study provides decision-makers with a significant and more strategic implication for the overseas expansion of businesses.

• The Journal of Industrial Distribution & Business
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• v.9 no.9
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• pp.45-52
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• 2018

Purpose - This case study is dedicated to the study of the presence of KIA Motors in the Kingdom of Saudi Arabia (KSA) and its market and entry strategies for strategic globalization that allowed the company to establish itself within a conservative and clustered marketplace dominated by American and Japanese international brands. Research Design, data, and methodology - The main information for the case was gathered through an interview and questionnaire from the executives of the KIA Al Jabr, which got the exclusive dealership in Saudi Arabia. Moreover, secondary data were obtained from reliable and authoritative sources such as the Saudi government agency publications, newspapers, international business journals. Other related periodicals based on the results from previous and current studies on similar topics were critically reviewed as well. Results - The findings of this paper show the different business environments of the Saudi market and the importance of various points regarding the company's global entry strategy even if the host market culture is quite different in many ways from other international markets. Conclusions - This case can provide Korean companies interested in the Middle East with insight into market penetration and global strategy, and present various perspectives and implications for global market access as well.

• KIEE International Transactions on Power Engineering
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• v.5A no.4
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• pp.331-338
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• 2005

In this paper, an improved maintenance scheduling approach suitable for the competitive environment is proposed by taking account of profits and costs of generation companies and the formulated combinatorial optimization problem is solved by using Reactive Tabu search (RTS). In competitive power markets, electricity prices are determined by the balance between demand and supply through electric power exchanges or by bilateral contracts. Therefore, in decision makings, it is essential for system operation planners and market participants to take the volatility of electricity price into consideration. In the proposed maintenance scheduling approach, firstly, electricity prices over the targeted period are forecasted based on Artificial Neural Network (ANN) and also a newly proposed aggregated bidding curve. Secondary, the maintenance scheduling is formulated as a combinatorial optimization problem with a novel objective function by which the most profitable maintenance schedule would be attained. As an objective function, Opportunity Loss by Maintenance (OLM) is adopted to maximize the profit of generation companies (GENCOS). Thirdly, the combinatorial optimization maintenance scheduling problem is solved by using Reactive Tabu Search in the light of the objective functions and forecasted electricity prices. Finally, the proposed maintenance scheduling is applied to a practical test power system to verify the advantages and practicability of the proposed method.

• Journal of Distribution Science
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• v.14 no.6
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• pp.5-15
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• 2016

Purpose - The continuously fluctuating consumer who desires simplicity and convenience has had much influence on the food industry. This trend has led to a new food market sector known as HMR (Home Meal Replacement). This study aims to understand the status of the HMR market in United States. Research Design, Data, and Methodology - In order to research the status of the HMR market, quantitative analysis and secondary research were carried out. By using data from Euromonitor, Agriculture and Agri-Food Canada, we have estimated food segment sales contributions to the HMR market in United States. Results - HMR products are being sold in various channels such as traditional stores, convenience stores, and even farmers' markets. Some restrictions on the HMR products exist for food safety. Conclusions - HMR industry in United States has expanded continuously. To keep pace with the growth of the HMR market, the United States government has focused on food and safety regulations with regards to the products used in HMR. Finally, this study discusses the implications for Korean HMR market.

• Proceedings of the Korean Society of Agricultural Engineers Conference
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• 2005.10a
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• pp.232-240
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• 2005

There are positive evaluation as well as negative evaluation for Rural Industrial Park Project which was implemented since 1984 to boom up the regional economy in Korea. By conducting a survey for Rural Industrial Park enterprises located in Miryang-si, this study intends to examine the management condition of enterprises in Rural Industrial Parks and so derive the policy suggestion. According to the secondary data and the survey results, Rural Industrial Parks play an important role in the regional economy. The result of the survey shows that the enterprises are dissatisfied with excessively high distributing costs and they want improvement of roads and transportation condition. They recruit their employees mainly through advertisement and loan money from banks. One of serious problems is giving up the business due to shortage of fund or failing to find the markets. To prevent quitting business, a preliminary analysis of the feasibility of running business should be conducted. Technology and management guidance and marketing support are necessary not only for new enterprises, but for existing enterprises. Alternatives for connecting local resources and Rural Industrial Park and forming a network between local universities, institutes, and firms should be considered.

• Journal of the Korean Society of Clothing and Textiles
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• v.28 no.2
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• pp.212-223
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• 2004

The purpose of this study is 1) to identify Chinese environment for investment and apparel market, 2) to analyze the current situations of Korean fashion brands＇entry to Chinese market, 3) to analyze the marketing strategies to China according to product category, and 4) to identify merits and problems of Chinese market. For data collection, secondary resources were collected, and the telephone interview with merchandisers were implemented with brand managers. Twenty-one fashion brands were included for the study. Results of the study were as followed： 1) China was a big potential apparel market due to its rapid economic growth. Apparel purchase behavior and clothing preference of Chinese consumers were various by regional groups. 2) The motives of entry to China were to competition in domestic markets, saving raw material cost. The entry modes to China were direct export, license and regional manufacturing system. 3) Marketing strategies were to pursue high quality branding, high pricing and placing strategies with high-class department stores. Also star marketing were used with ＂Han Rue＂. Also various promotion strategies were implemented such as fashion show and unique VMD. 4) The merits of Chinese market were high potential market for export, close proximity, cultural similarity and Han-Ryu syndrome. Problems of Chinese market for export were lack of experts on Chinese market, fierce competition in China, and unstable economic policies.