• KDI Journal of Economic Policy
• /
• v.29 no.2
• /
• pp.177-196
• /
• 2007

This paper analyzes welfare effects of revenue neutral tax reform using a small open economy dynamic general equilibrium model. We apply this model to the Korean data and examine welfare effects of various tax reforms; removal of capital income tax and/or labor income tax financed by consumption tax. We investigate both long run equilibrium and transitional dynamics. The results suggest that there are sizable welfare gains (1-3% of lifetime consumption) when factor income taxes are replaced by consumption tax. Overall gains are generated by long run gains despite short run welfare losses. However, there is welfare loss when capital income tax is replaced by labor income tax.

• KDI Journal of Economic Policy
• /
• v.24 no.1
• /
• pp.191-233
• /
• 2002

This paper is to examine some issues and policy direction of capital income taxation in Korea. Fundamental tax reform in US was reviewed to get some lessons for reforming the capital income taxation. One of main characteristics in Korea's capital income taxation is different treatment by corporation type, investment goods, and financial structures. Especially, the tax differential for debt and equity financing has been serious, as debt has been deducted as cost. We discuss that tax policy should try to satisfy the efficiency, equity, and simplicity under the structure of income based taxation for the time being. However, the changes of tax policies in advanced economies should be carefully examined, as Korea has the structure of small open economy. The current issue on the abolition of corporation income tax might be premature in logical structure and implementation. The US fundamental tax reform might be useful reference for determining the direction of capital income taxation in Korea, as it gives us some chances to discuss about tax base issue with income and consumption. Consumption based taxation is superior to income based taxation in the perspective of administrative and compliance costs. We should consider these tax costs for reforming capital income tax system in Korea.

• Korean Journal of Materials Research
• /
• v.32 no.5
• /
• pp.237-242
• /
• 2022

Designing and producing a low-cost, high-current-density electrode with good electrocatalytic activity for the oxygen evolution reaction (OER) is still a major challenge for the industrial hydrogen energy economy. In this study, nanostructured Fe-doped CuCo(OH)₂ was discovered to be a precedent electrocatalyst for OER with low overpotential, low Tafel slope, good durability, and high electrochemically active surface sites at reduced mass loadings. Fe-doped CuCo(OH)₂ nanosheets are made using a hydrothermal synthesis process. These nanosheets are clumped together to form a highly open hierarchical structure. When used as an electrocatalyst, the Fe-doped CuCo(OH)₂ nanosheets required an overpotential of 260 mV to reach a current density of 50 mA cm^-2. Also, it showed a small Tafel slope of 72.9 mV dec^-1, and superior stability while catalyzing the generation of O₂ continuously for 20 hours. The Fe-doped CuCo(OH)₂ was found to have a large number of active sites which provide hierarchical and stable transfer routes for both electrolyte ions and electrons, resulting in exceptional OER performance.

• Journal of the Korean Institute of Landscape Architecture
• /
• v.33 no.5 s.112
• /
• pp.15-30
• /
• 2005

A deserted town once vibrant with active commercial activities around a railroad station now tries to find a way to escape from depression and revive its life with a renewed civic pride. An open space adjacent to the Main Street, the commercial district of Buzzards Bay, Massachusetts, is waiting to be transformed and reconfigured to be a new ecological park to boost the economy of the community. Bridge Park is 26-acre land abutting the Cape Cod Canal with a railroad bridge as a backdrop. The existing condition of the site with a small salt marsh, woodland, lawn, and the vestige of old railroad easement along with the proximity to the commercial district poses an interesting question of how to make a medium scaled ecological park within an urban context. This paper examines the winning design proposals for the Bridge Park submitted to the International Design Competition held in April, 2005. Six winning proposals were introduced and discussed in terms of categories related to the trend of contemporary landscape design such as; 1) ecological ordinariness and geometric figures, 2) topography and spatial imagination, 3) minimal programs and open put 4) time and process oriented design, 5) park and economic effects and 6) diagrammatic plan and photo montage. Bridge Park Design Competition confirms the complex characteristics representing the contemporary landscape design overcoming the dichotomy between nature and culture and the 'pastoral ecological design' and 'landscape as an art'. The Park becomes the activating agent for the community rejecting the conventional and passive role as a romantic picturesque landscape. Bridge Park International Design Competition is a meaningful event to test the idea of new ecological urban park, and to fine-tune the trend of the contemporary urban park design.

• Journal of the Korean Institute of Landscape Architecture
• /
• v.30 no.2
• /
• pp.70-78
• /
• 2002

The landscape disign of Gamcheon wholesale fish Market was designed around a turnkey base to promote the economy of Busan Metropolitan City, to establish a fishery marketing center and to modernize existing facilities. The objectives of the project were to promote the mood of an old market, while preserving its functions and efficiency as a market, to design outdoor spaces with natural resources and amenities in balance, and to create attractive tourist spots in connection with the wide area development plan. The project was oriented, fast, to enhance the functions of the market. For this purpose, a multi-dimensional space layout was designed in consideration of functions as a wholesale market. The safety of pedestrians was secured by separating lathes for vehicles and for pedestrians. Tree planting with various functions such as sheltering, wind breaking and guiding was planned. Secondly, nature-friendly and human-friendly landscaping design was attempted. For this, the beautiful natural resources of Amnam Park were utilized, and green spaces such as green bridges linking buildings in the wholesale market, and rooftop gardens were to be arranged. In addition, environment-friendly facilities such as roads paved with natural materials(i.e. gravel, shells) and program parking lots were to be planned. Thirdly, landscape design was considered to create attractive tourist spots. For example, a fish farm was created as a theme street for pedestrians and various water-friendly spaces such as pedestrian ramps, observatories and seaside streets were to be secured. The main contents are as follows. First, a green bridge to Ahnnam Park was introduced for a tour source and flower garden, an event plan and viewing deck open to the sea were planned on the bridge's axis. Secondly, for the effective land use plan concerning open space and convenience to visitors, a promenade was planned, which is connected with the theme plaza and small plazas by environmental sculptures in front of the market hall and at the gate. As well, an observatory and a roof garden help create three dimensional multi leveled space, with a good view of the natural landscape of the sea, sky and park Thirdly, landscape materials, such as trees and those for facilities, strengthened for protection against the seawind and salt damage were selected. The commercial market area was intended to be transformed a traditional functional area of efficiency and economy into an attractive marine leisure area where both tourists and neighbors can make use of it.

• Asia Marketing Journal
• /
• v.15 no.1
• /
• pp.57-81
• /
• 2013

The purpose of this paper is to seek ways to improve the competitiveness of Korea's fashion industry by utilizing the source of competitiveness of Japan's fashion industry, which represents the world's leading countries in terms of fashion, so that Korea can better enter the global fashion market. The study shall first compare the competitiveness of the Japanese and Korean fashion industries by utilizing the generalized double diamond model; second, provide an understanding of what the Japanese fashion industry can offer to Korean fashion industry and companies - that is, understand what the Japanese fashion industry's competitive edge is; and third, study the kind of global competitiveness that Korea's fashion industry must achieve. To adopt a generalized double diamond model to compare the competitiveness of the Korean and Japanese fashion industries, we selected 31 sub-variables to act as determinants of the model. That is, we extracted 31sub-variables by doing research of literature to analyze national competitiveness of the fashion industries. To measure these 31 sub-variables, secondary data was gathered. We collected data related to each sub-variable from various sources of Korea and Japan. And to calculate the competitiveness index, we took three steps with reference to previous studies. We found that status of the fashion industry of the two countries as it stands. That is, Japan is an advanced country of which fashion industry is domestic market-oriented while Korea is a small open economy that mainly focuses on the foreign market. Out of 31 proxy variables, Korea's fashion industry shows higher measurements relating to production and export than Japan, but Japan's fashion industry reports higher measurements than Korea in the fields of R&D, design and brand power, the rate of value added, the efficiency of companies and globalization. In order for Korea's fashion industry to achieve competitiveness in the global market, it should pursue the following development direction. First, it is very difficult for Korea to follow the footsteps of the U.S. and Japanese fashion industries that are able to take advantage of economies of scale, because Korea is smaller than those countries. Therefore, in the case of small economies such as Singapore, strengthening of international activities will practically improve domestic determinants that Korea should improve its domestic diamond by enhancing the current competitiveness of its international diamond. In other words, Korea needs to further endeavor to develop and expand global resources and markets as well as improve its competitiveness in terms of R&D, design and brand power, the rate of value-added, and the efficiency of companies. As the Korean fashion industry shows relatively advanced level of information technology and the fashion education system, it has considerable potential to grow. Korea is expected to have a huge growth potential since it has relatively higher level of information technology, fashion education system and activities than those of Japan in both the domestic diamond and international diamond. In particular, a better environment is laid out before Korea to gain competitiveness in the fashion industry due to the recently growing influence of the Korean Wave that Korea is expected to grow as a leader in the Asian market as well as in the global market.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.3 no.2
• /
• pp.65-88
• /
• 2008

To achieve the age of 30,000 dollars GNP, The business with speed will hold a more crucial point than the business with scale, and the mass consumption market will be transformed and changed into the niche market. Moreover, it will not be easy for the company without the peculiar and creative technology to survive in the severe competition. Under these circumstances, The innovative company which knows how to use this new paradigm will select the better position in the changing market. Innovation type SMEs are contributing in maintaining the international competitiveness of domestic economy by serving high-tech and the promotion of employment. Also, Innovation type SMEs have the most important economic leverage in our domestic economy. It's a source of the growth in domestic economy. Therefore, A lot of countries have been trying to support innovation type SMEs (with a small capital and high-tech). And many countries also try to protect and promote the innovation type SMEs. Especially the Korean government is also promoting innovation type SMEs in many ways, because the future of innovation type SMEs are not bright. This study explored the three innovative SEMs and studied 1) entrepreneur characteristics, 2) the industry environment, 3) competitive strategies, and 4) resources and capabilities of organization, which have been considered as the success factors for entrepreneurial firms. This study also holds that the characteristics of entrepreneurs is one of the most important factor to impact the success of innovative SMEs. Most of entrepreneurs have started their business with high education career and field experiences and have high intentions in developing new/high techonologies, challenging spirits, and clear vision and goals. The innovative SMEs with small kinds of products and services, narrow market, and small resources are more sensitively impacted by the environment especially. But the SMEs which entered into market early could have the comparative excellencies in their market to survive and grow in the future. They also have competitive advantages in the market using differentiation strategies by technology innovation. Technology innovation and differention strategies are one of the success factors in SMEs, They entered into the niche market using this weapons. The capabilities of changing organization to their changing environment, the open orgarnization culture, the continuous employment education, and the building the organic organization are also success factors of innovative SMEs. The SMEs with the simple organization structure can make fast decisions and operate with the autonomous and flexible ways. These only three cases will not shown successful factors of over 12,000 Innovation type SMEs in Korea and this study of Innovation type SMEs is insufficient from all aspects. But this study have many implications for the future research and the entrepreneurs ready for their business.

• KDI Journal of Economic Policy
• /
• v.27 no.1
• /
• pp.157-183
• /
• 2005

Using a multi-sector dynamic stochastic general equilibrium model, we investigate the dynamic effects of a variety of shocks to a small open economy. In particular, we calibrate the model to match the main characteristics of business cycles in Korea and analyze the effects of external shocks: the terms of trade and world real interest rate shocks. Business cycles in Korea more closely follow those of the G7 countries rather than Asian countries. The simulation results suggest that an improvement in the terms of trade has positive impact on investment, output and consumption, while a decrease in the world interest rate has a significant and positive effect on investment. This paper concludes that external shocks significantly influence business cycle fluctuations in Korea.

• Journal of Fashion Business
• /
• v.5 no.1
• /
• pp.1-15
• /
• 2001

The purpose on this study is to grasp the clothing habits and problems of the Chinese-Koreans in Yanbian, China through the fact-finding survey about the clothing habits for the Chinese-Koreans in Yanbian, China who have frequent exchanges with the North Korea and have relatively similar home culture preparing for the unification of North and South Korea, also it is to make the basic data for improving their qualities of life. As for the method of study, it centered on the investigation by the questionnaire on the spot and it referred to the data like domestic and abroad literature, field observation, interview and internet, etc. as a reference. Also it centered on the girl college students and the housewives in Yangil City as an object of research. Accordingly, the result of this study is as follows. The Yanbian is the largest Chinese-Koreans group of people in the China. The economic environment in Yanbian is in the middle of the whole China. With the open-economy of China and the contact with the foreign culture, especially with Korea, the 1960s and 1990s coexist in. The Chinese-Koreans in Yangil spend about 1,425 CNY as clothing expenses averages a year, and the estimated value of holding amount of clothing is about 27 suits. They recognize the clothing made in Korea as high-quality and high-price of high-quality articles. They have high interest in the Korean fashion as the younger generation. They prefer to modern, active, refined and mature atmosphere in the clothing atmosphere, but they still do not reach to the level yet in actual. They generally have strong tendency with the preference of black color or dark color because they have small holding amount. The field materials of fiber did not become high-quality articles because they hold in the level of 1960s in Korea. So, the color level of Chinese-Koreans in Yanbian is still low.

• Journal of Korea Trade
• /
• v.23 no.3
• /
• pp.118-137
• /
• 2019

Purpose - As global trade disputes intensify and global trade uncertainty increases due to the prevailing trade protectionism all over the world, mega-FTAs such as the RCEP and CPTPP are suggested as strategic trade policy options for export-driven small open economies, such as Korea. This paper aims to provide a comprehensive analysis of Korea's mega-FTA participation and the induced implications for the Korean economy. Design/methodology - We use a multi-region, multi-sector global CGE model, and investigate the different effects of both the US-China and US-EU trade wars on the relative changes in GDP, welfare, and trade under different trade policy regimes; (i) Korea does not participate in any mega-FTA, (ii) Korea participates in the RCEP, and (iii) Korea participates in the CPTPP. Findings - We show, among others, that though industrial effects might be largely varied, the overall enlarging of free trade zones through multilateral mega-FTA participation may contribute significantly to the macroeconomic soundness and stability of Korea, even when global trade protectionism prevails. Under RCEP and CPTPP trade regimes, Korea's GDP may increase even when the global trade environment deteriorates as trade wars occur and intensify between the US and China, or between the US and EU. It is also estimated that RCEP participation increases Korea's GDP, welfare (measured in equivalent variation), and total trade by 1.12%, $1.09 billion, and 2.54%, respectively, while CPTPP participation increases them by 0.19%, $0.92 billion, and 0.13%, respectively. Originality/value - Existing studies usually focus on the direct impacts of mega-FTA participation on macroeconomic variables such as GDP, welfare, and trade, and do not consider the possible buffer effects of a mega-FTA when the global trade environment worsens. In this paper, we analyze and quantify not only the direct impacts of RCEP and CPTPP on the main macroeconomic variables but also the possible buffer effects of the RCEP and CPTPP in the cases of the US-China and US-EU trade wars.