• Asia pacific journal of information systems
• /
• v.18 no.3
• /
• pp.91-121
• /
• 2008

Electronic commerce, commonly known as e-commerce or eCommerce, has become a major business trend in these days. The amount of trade conducted electronically has grown extraordinarily by developing the Internet technology. Most electronic commerce has being conducted between businesses to customers; therefore, the researches with respect to e-commerce are to find customer's needs, behaviors through statistical methods. However, the statistical researches, mostly based on a questionnaire, are the static researches, They can tell us the dynamic relationships between initial purchasing and repurchasing. Therefore, this study proposes dynamic research model for analyzing the cause of initial purchasing and repurchasing. This paper is based on the System-Dynamic theory, using the powerful simulation model with some restriction, The restrictions are based on the theory TAM(Technology Acceptance Model), PAM, and TPB(Theory of Planned Behavior). This article investigates not only the customer's purchasing and repurchasing behavior by passing of time but also the interactive effects to one another. This research model has six scenarios and three steps for analyzing customer behaviors. The first step is the research of purchasing situations. The second step is the research of repurchasing situations. Finally, the third step is to study the relationship between initial purchasing and repurchasing. The purpose of six scenarios is to find the customer's purchasing patterns according to the environmental changes. We set six variables in these scenarios by (1) changing the number of products; (2) changing the number of contents in on-line shopping malls; (3) having multimedia files or not in the shopping mall web sites; (4) grading on-line communities; (5) changing the qualities of products; (6) changing the customer's degree of confidence on products. First three variables are applied to study customer's purchasing behavior, and the other variables are applied to repurchasing behavior study. Through the simulation study, this paper presents some inter-relational result about customer purchasing behaviors, For example, Active community actions are not the increasing factor of purchasing but the increasing factor of word of mouth effect, Additionally. The higher products' quality, the more word of mouth effects increase. The number of products and contents on the web sites have same influence on people's buying behaviors. All simulation methods in this paper is not only display the result of each scenario but also find how to affect each other. Hence, electronic commerce firm can make more realistic marketing strategy about consumer behavior through this dynamic simulation research. Moreover, dynamic analysis method can predict the results which help the decision of marketing strategy by using the time-line graph. Consequently, this dynamic simulation analysis could be a useful research model to make firm's competitive advantage. However, this simulation model needs more further study. With respect to reality, this simulation model has some limitations. There are some missing factors which affect customer's buying behaviors in this model. The first missing factor is the customer's degree of recognition of brands. The second factor is the degree of customer satisfaction. The third factor is the power of word of mouth in the specific region. Generally, word of mouth affects significantly on a region's culture, even people's buying behaviors. The last missing factor is the user interface environment in the internet or other on-line shopping tools. In order to get more realistic result, these factors might be essential matters to make better research in the future studies.

• Journal of Distribution Research
• /
• v.17 no.5
• /
• pp.39-57
• /
• 2012

The unabated influx of micro businesses has turned the Korean retailing market to a rat race, which causes severe financial distress for micro business owners due to heavy competition. The woes of these micro business owner's are exacerbated by the presence of large scale distributors such as Super Supermarket(SSM) and large discount stores. In summary, the Korean retail market is overburdened an uneconomically viable. Retailing has low barriers to entry which attracts unskilled labor or those with little capital. These start-ups have low opportunity costs since they would make low wages elsewhere in the economy. Thus, these owners are content with relatively low returns on their investment. These 'subsistence ventures' are maintained for economical viability rather than economic growth. These 'subsistence ventures' intensifies competition among small-scale businesses. The presence of large retail corporations also aggravates the situation. The recent stagnation of the economy has worsened the retail market in Korea. The overwhelming competition solidifies the coarse structural system and the prolonged economic sluggishness has increased the risk of insolvency for micro business owners. As the economy continues to stagnate, the imminent risk in retailing market will rise up to surface threatening economic stability. More systematic inflows and outflows of retailers are required in order to redress this structural problem. It has been empirically shown that the self-employment rate is high in Korea compared to other OECD countries. To draw the comparison of self-employment rate by industry, Korea shows high rates among transportation, whole sale, retail, education, lodging, and restaurants. In the case of the transportation and education service sectors, this high rate can be explained by the idiosyncratic nature of Korean culture. In the transportation sector, political policies favor private cap service and private freight carriers. In the education service sector, Koreans put particular emphasis on education that leads to many private institutions that outnumber other OECD countries. For these singular reasons, Korea maintains high micro business, self-employed rates particularly in retailing. A comparable nation is Japan, with its similar social, economic, cultural environment among OECD countries. Unlike Korea, Japan has much lower rates of micro business which continues to decrease. Also Korean retailers are much more destitute than Japanese. The fundamental problem of Korean retailing is the involuntary exit of these 'subsistence ventures,' micro businesses with low margins, in which a small drop in demand can lead to financial difficulties for the owner. This problem will be exacerbated when Korean babyboomers retire and join the micro business ventures. The first priority in order to cope with the severity of oversupply in retailing is to provide better opportunities for the potential self-employers. There should be viable alternatives to subsistent ventures. Strengthening the retirement program, scrutiny of exit process, reconfiguration of policy funds are the recommendations.

• Journal of Korean Society of Environmental Engineers
• /
• v.36 no.12
• /
• pp.803-812
• /
• 2014

This study assesses the strategy and performance of Eco-industrial Park (EIP) initiative implemented by Korea Industrial Complex Corporation (KICOX) with the support of Ministry of Trade, Industry and Energy (MOTIE), Korea since 2005 to 2013 and recommends future directions. After the concept of EIP based on industrial symbiosis (IS) is introduced, the background and implementation procedure of the EIP initiative are described. Then, economic and environmental achievement was assessed. During the project periods (2005-2013), 449 industrial symbiosis project were explored, among which 296 projects have been implemented. Among (Of these 296 projects,) them, 244 projects have been completed in which 118 projects have been commercialized which shows 48% commercialization rate of the completed projects. Through these commercialized projects, around 311.1 billion won/year of economic benefits and reduction of waste by-products of 828,113 tons/year, wastewater of 215,517 tons/year, reduction in energy consumption of 250,475 toe/year and GHG emission reduction of 1,107,189 $tCO_2/year$ were achieved. This results confirmed that EIP initiative based on industrial symbiosis can enhance eco-efficiency of industrial parks and harmonize economy and environment. However, there are obstacles like absence of interagency coordination and cooperation, laws and institutional barriers, increased demand for local governments, funding for project investment. Thus, to utilize EIP initiative as a strategic tool for competiveness and environmental management of industrial parks, it needs intergovernmental collaboration and interdisciplinary approach to lower barrier in implementation.

• Journal of the Korea Academia-Industrial cooperation Society
• /
• v.17 no.11
• /
• pp.66-79
• /
• 2016

A discussion has recently emerged over the increase of approvals of K-REITs, which is concluded on the basis of how to raise funds for business activity, fulfill the expected rate of return and maximize the management of managing investment funds. In addition, corporations need to acknowledge the necessity of the capital structure reflected in the current economic environment and decision-making processes. This research analyzed the characteristics by investment types and influence factors about the debt ratio of K-REITs. The data were collected from general management about business state, investment, and finance from 2002 to 2015 in K-REITs (except for the GFC period of 2007~2009). The results of the research demonstrated the high ratios of the largest shareholder characteristics, which are corporation, pension funds, mutual funds, banks, securities, insurance, and, recently, the increasing ratio of the largest shareholder and major stockholder. The investment of K-REITs is increasing the role of institutional investors that take a leading development of K-REITs. The behaviors of simultaneous investment of institutional investors were analyzed to show that they received higher interest rates than other financial institutions and ran in parallel with attraction and compensation. The results of the multiple regressions analysis, utilizing variables about debt ratio were as follows. The debt ratio showed a negative (-) relation that profitability is increasing, which matches the pecking order theory and trade off theory. On the other hand, investment opportunities (growth potential) showed a negative (-) relation and assets scale that indicated a positive (+) relation. The research results are reflected as follows. K-REITs focused on private equity REITs more than public offering REITs, and in the case of financing the capital of others, loan capital is operated under the guarantee of tangible assets (most of real estate) more than financing of the stock market. Further, after the GFC, the capital of others was actively utilized in K-REITs business, and the debt ratio showed that the determinant factors by the ratio and characteristics of the largest shareholder and investment products.

• Journal of Environmental Policy
• /
• v.6 no.1
• /
• pp.41-60
• /
• 2007

Attempts were made to define the elements of debates, impact of decisions of the Access to Genetic Resources and Benefit-sharing(ABS) of the Conference of the Parties(COP) to the Convention on Biological Diversity(CBD) In Korea. Providing policy suggestions to cope with ABS, a cross-cutting issue of the meetings of the COP, was also undertaken. Meetings concerning ABS deal with several key matters such as an international regime, which is a legally binding implementation tool of the Bonn Guidelines, an international certificate of genetic resources' origin/source/legal provenance, and disclosure of origin of genetic resources, compliance measures with prior informed consent of the Contracting Parties providing such resources and with mutually agreed terms on which access was granted. Developing countries, rich in biodiversity and genetic resources, use the CBD as a major tool to maximize their national profits. They demand for national sovereign rights for the genetic resources and indigenous communities providing associated traditional knowledge. At the meetings of the COP, in addition, they requested that developed countries should transfer technologies and provide a financial mechanism for resource conservation to them. On the contrary, the developed countries argue that facilitating access to genetic resources is essential for scientific research and development, and that both Intellectual Property Rights and biotechnology using genetic resources should be protected to maximize their national benefits. Decisions of the COP concerning the Bonn Guidelines and compliance measures with ABS will affect on various socioeconomic fields of Korea, a country which is short of genetic resources. Especially, the importation of genetic resources and land development which might damage genetic resources will be limited seriously. Consequently, overall expenses will increase for the securing genetic resources from the foreign countries and developing biotechnology for conservation and sustainable uses of genetic resources. To minimize the adverse impacts, we endeavor to establish our clear standpoint and to lead the international trends, which are favorable for us. In order to achieve these objectives, government needs i) to proceed researches to lead the international ABS debates actively and to prepare the expected decisions of the future meetings of the COP, ii) to establish a national implementation plan to cope with the ABS and its related decisions, iii) to examine and improve the efficiencies of the national implementation plan with a proper monitoring system, and iv) cope with the other international meetings including the meetings of Trade Related Intellectual Properly Rights and International Treaty on Plant Genetic Resources for Food and Agriculture actively.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
• /
• v.20
• /
• pp.23-62
• /
• 2003

The Law amending the Conflict of Laws Act of the Republic of Korea ("Korea"), which had taken two years to prepare, was promulgated on April 7, 2001 and finally took effect as of July 1, 2001. Accordingly, the old earlier Conflict of Laws Act which was called "Seoboesabeop" in Korean ("Prior Act"Old Act) was replaced by the new Conflict of Laws Act called "Gukjesabeop" in Korean ("New Act"). In fact the Old Act Prior Act was promulgated in 1962, but it was regarded as outdated from the moment of its promulgation. However, since the Old Act because it was modeled after the chapter of the Private International Law of the Einfuehrungsgesetz zum Buergerlichen Gesetzbuch (EGBGB) of the Federal Republic of Germany ("German PIL") and the Japanese Private International Law ("Japanese PIL") which had been promulgated toward the end of the 19th century., the Old Act was viewed as outdated from the moment of its promulgation. As a result of the drastic change of the environment for international trade of which that has taken took place in parallel with the global information technology revolution on a global basis, the scope of issues to be addressed which should be resolved by the conflict of laws principles has been remarkably expanded, and various new issues of an entirely which are quite new in its type and nature have arisen been raised. In the field of conflict of laws in its narrow sense, a revolution or crisis of the traditional conflict of laws has been brought about by the advent in the United States rise of a the new methodology for of the conflict of laws, of the United States of America and in the process of overcoming the such crisis the conflict of laws of the European continent has undergone substantial changes such as the diversification of the connecting principles, the expansion of the principle of party autonomy and the consideration of the value of the substantive law to protect socio-economically weaker parties of. The Prior Act, which was based on However, with the mechanical connecting principles and contained various outdated the inappropriate provisions, the Old Act could not cope with the issues raised by the internationalization and globalization of the Korean society. Furthermore In addition, the Old Act Prior Act was regarded as insufficient in that it lacked rules on international jurisdiction to adjudicate, or international adjudicatory jurisdiction, whereas the expectation of the public was that the Conflict of Laws a Act should function as the "Basic Law of the International Legal Relationships"encompassing rules on international jurisdiction given the increase of international disputes. Furthermore the private international law has also attracted more attention from the Korean At the beginning of the new Millennium, thanks to the promulgation of the New Act, I believe that Korea has succeeded in achieving the modest goal of reflecting in the its codification substantial parts of the major developments of the private international law which the leading advanced continental European countries had achieved during the last century. The New Act has followed the approach of the traditional conflict of laws of the European continent. It is a product of the efforts to eliminate the then existing problems of the Prior Old Act and to adapt the Korean private international law regime to the standard of international conventions and national laws of advanced countries. Unlike the Prior Old Act which was heavily dependent upon the prior Japanese PIL and the prior German PIL, the New Act has been prepared by taking into full account the Rome Convention, the Swiss PIL, the new German PIL which took effect in 1986 and various conventions adopted by the Hague Conference. Therefore, the New Act has substantially reduced dependence upon the Japanese PIL and the German PIL, and has gained relatively greater universal validity. The fact that the New Act expressly declares that the determination of international jurisdiction is a matter of conflict of laws is a clear sign that it has departed from the German tradition which confines the conflict of laws principles to choice of laws rules, and moved toward a broader and more practical approach widely accepted in the area of conflict of laws. It is hoped, and I am personally confident, that the New Act will be able to achieve its intended objectives in the 21st century as the basic law for the ever-increasing legal relationships with a foreign element.

• Management & Information Systems Review
• /
• v.3
• /
• pp.287-316
• /
• 1999

Cyberspace permits us to more beyond traditional face-to-face, mail and telephone surveys, yet still to examine basic issues regarding the quality of data collection: sampling, questionnaire design, survey distribution, means of response, and database creation. This article address each of these issues by contrasting and comparing traditional survey methods(Paper-and-Pencil) with Internet or Personal Computer networks-mediated (Screen-and-Keyboard) survey methods also introduces researchers to this revolutionary and innovative tool and outlines a variety of practical methods for using the Internet or Personal Computer Networks. The revolution in telecommunications technology has fostered the rapid growth of the Internet all over the world. The Internet is a massive global network and comprising many national and international networks of interconnected computers. The Internet or Personal Computer Networks could be the comprehensive interactive tool that will facilitate the development of the skills. The Internet or Personal Computer Networks provides a virtual frontier to expand our access to information and to increase our knowledge and understanding of public opinion, political behavior, social trends and lifestyles through survey research. Comparable to other technological advancements, the Internet or Personal Computer Networks presents opportunities that will impact significantly on the process and quality of survey research now and in the twenty-first century. There are trade-offs between traditional and the Internet or Personal Computer Networks survey. The Internet or Personal Computer Networks is an important channel for obtaining information for target participants. The cost savings in time, efforts, and material were substantial. The use of the Internet or Personal Computer Networks survey tool will increase the quality of research environment. There are several limitations to the Internet or Personal Computer Network survey approach. It requires the researcher to be familiar with Internet navigation and E-mail, it is essential for this process. The use of Listserv and Newsgroup result in a biased sample of the population of corporate trainers. However, it is this group that participates in technology and is in the fore front of shaping the new organizations of interest, and therefore it consists of appropriate participants. If this survey method becomes popular and is too frequently used, potential respondents may become as annoyed with E-mail as the sometimes are with mail survey and junk mail. Being a member of the Listserv of Newsgroup may moderate that reaction. There is a need to determine efficient, effective ways for the researcher to strip identifiers from E-mail, so that respondents remain anonymous, while simultaneously blocking a respondent from responding to a particular survey instrument more than once. The optimum process would be on that is initiated by the researcher : simple, fast and inexpensive to administer and has credibility with respondents. This would protect the legitimacy of the sample and anonymity. Creating attractive Internet or Personal Computer Networks survey formats that build on the strengths of standardized structures but also capitalize on the dynamic and interactive capability of the medium. Without such innovations in survey design, it is difficult to imagine why potential survey respondents would use their time to answer questions. More must be done to create diverse and exciting ways of building an credibility between respondents and researchers on the Internet or Personal Computer Networks. We believe that the future of much exciting research is based in the Electronic survey research. The ability to communicate across distance, time, and national boundaries offers great possibilities for studying the ways in which technology and technological discourse are shaped. used, and disseminated ; the many recent doctoral dissertations that treat some aspect of electronic survey research testify to the increase focus on the Internet or Personal Computer Networks. Thus, scholars should begin a serious conversation about the methodological issues of conducting research In cyberspace. Of all the disciplines, Internet or Personal Computer Networks, emphasis on the relationship between technology and human communication, should take the lead in considering research in the cyberspace.

• Journal of the Korea Academia-Industrial cooperation Society
• /
• v.7 no.6
• /
• pp.1319-1336
• /
• 2006

The successive round of talks oil Korea-USA Free Trade Agreement (FTA) has continued, and it also has the Intellectual property(IPR) unit. Until now, tile one of most disputing concerns in IPR unit through talks is the limitation of compulsory license of claimed invention. The US is urging to establish a safeguard for IPR, as similar measure of the US, to protecting the profit of the US enterprises through these on-going talks, it is more likely expected to take the offensive about infringement of the patent seriously. Based on the current circumstances, the provision strategy study is needed to obtain Korea inventors the first inventor defense under the US patent law system as well as understand the current Korea's patent law and its revision against that in the US. In patent Law, both nations with first to file system and first to invent system permit a prior user of an invention to continue to use the invention notwithstanding its subsequent patenting by another under being subject to certain qualifications and limitations, even though a patent by a later inventor is granted. Normally, the first inventor defense has been used to compensate the drawbacks of the first to file system. The US patent Law, however, adopting the first to invent system admits the first inventor defense. Therefore, pursuing counteract provision under consideration with Korean patent Law system and research environment along with investigating the reason why the US adopted its patent law system, the scope of right, and the new reform of Act. 2005 of the institute, which promotes the first Korean inventor to possess the defense right of the US, provides certain preparations for Korean companies against the expected offensive from the US ones under the US patent Law system.

• Journal of Intelligence and Information Systems
• /
• v.22 no.2
• /
• pp.81-96
• /
• 2016

As the internet has become widespread and easy to access everywhere, it is common for people to search information via online search engines such as Google and Naver in everyday life. Recent studies have used online search volume of specific keyword as a measure of the internet users' attention in order to predict disease outbreaks such as flu and cancer, an unemployment rate, and an index of a nation's economic condition, and etc. For stock traders, web search is also one of major information resources to obtain data about individual stock items. Therefore, search volume of a stock item can reflect the amount of investors' attention on it. The investor attention has been regarded as a crucial factor influencing on stock price but it has been measured by indirect proxies such as market capitalization, trading volume, advertising expense, and etc. It has been theoretically and empirically proved that an increase of investors' attention on a stock item brings temporary increase of the stock price and the price recovers in the long run. Recent development of internet environment enables to measure the investor attention directly by the internet search volume of individual stock item, which has been used to show the attention-induced price pressure. Previous studies focus mainly on Dow Jones and NASDAQ market in the United States. In this paper, we investigate the relationship between the individual investors' attention measured by the internet search volumes and stock price changes of individual stock items in the KOSDAQ market in Korea, where the proportion of the trades by individual investors are about 90% of the total. In addition, we examine the difference between industries in the influence of investors' attention on stock return. The internet search volume of stocks were gathered from "Naver Trend" service weekly between January 2007 and June 2015. The regression model with the error term with AR(1) covariance structure is used to analyze the data since the weekly prices in a stock item are systematically correlated. The market capitalization, trading volume, the increment of trading volume, and the month in which each trade occurs are included in the model as control variables. The fitted model shows that an abnormal increase of search volume of a stock item has a positive influence on the stock return and the amount of the influence varies among the industry. The stock items in IT software, construction, and distribution industries have shown to be more influenced by the abnormally large internet search volume than the average across the industries. On the other hand, the stock items in IT hardware, manufacturing, entertainment, finance, and communication industries are less influenced by the abnormal search volume than the average. In order to verify price pressure caused by investors' attention in KOSDAQ, the stock return of the current week is modelled using the abnormal search volume observed one to four weeks ahead. On average, the abnormally large increment of the search volume increased the stock return of the current week and one week later, and it decreased the stock return in two and three weeks later. There is no significant relationship with the stock return after 4 weeks. This relationship differs among the industries. An abnormal search volume brings particularly severe price reversal on the stocks in the IT software industry, which are often to be targets of irrational investments by individual investors. An abnormal search volume caused less severe price reversal on the stocks in the manufacturing and IT hardware industries than on average across the industries. The price reversal was not observed in the communication, finance, entertainment, and transportation industries, which are known to be influenced largely by macro-economic factors such as oil price and currency exchange rate. The result of this study can be utilized to construct an intelligent trading system based on the big data gathered from web search engines, social network services, and internet communities. Particularly, the difference of price reversal effect between industries may provide useful information to make a portfolio and build an investment strategy.

• Korean Journal of Heritage: History & Science
• /
• v.45 no.3
• /
• pp.114-159
• /
• 2012

The Northern Song Dynasty Period (北宋時代) was a drastic transitional era in all aspect of Chinese society including the politico-economic system, ideology and cultural trait. These changes that began in the late Tang (唐) Dynasty Period accomplished in the Northern Song Dynasty. In this phase, the fundamental change influenced in all institutional area; and among them, the capital city planning and its associating building technology to pile stone walls shows one of the significant change of those time. Based on the geographical factor, confluences of many rivers, the Kaifeing (開封) area where the BianLieng palace had developed as a political and economical centre since the Tang Dynasty when the Grand Canal was constructed. According to archaeological researches, the central city structure of Dongjing Walled Town was begun to plan in the late Tang Dynasty and formed in Five Dynasties. The fundamental functional change of city completed in the Midnorthern Song Dynasty. In spite of the relatively late beginning of archaeological investigations to Kaifeng Walled Town and Dongjing Walled Town due to unfavourable natural environment, excavations inaugurated since 1981 have achieved the significant investigations including the actual measurement and excavation to the outer wall, the preliminary excavation to the inner city area, the investigation and excavation to the royal palace of Song and the survey to the royal palace of King Zho in the Ming (明) Dynasty. These surveys have provide important data to reconstruct the 변량 palace, and elucidate the characteristics of city plan in the Dongjing Walled Town and the institutional change of capital city plan of the Northern Song Dynasty. The basic layout of Dongjing Walled Town reflect the realisation of ideality of the late Chinese medieval capital city structure that establish the commercial and economic centre based on the intensification of emperor's power by means of the organisation of ethical institution and the development of commercial economy. Firstly, the central place of the Kaifeng area is encircled with triple walls. This emphasise the authority of emperor located on the summit in the hierarchical ethic system succeeding to the main capital city plan of the late phase of ancient China. Secondly, the location of Dongjing Walled Town was decided by the transport network and the commercial function and defence function. Thirdly, this site shows the change of city structure and landscape of the Northern Song Dynasty. The closed Fengri (坊里: block) system transferred the open Jiexiang (街巷: road) system. Fourthly, the capital city was characterised by the free market trade and the diversification of market place. Fifthly, a convenient transport network in the Bian River, a centre of the Grand Canals, enabled to construct the Kaifeng Walled Town. Therefore, the Northern Song Dynasty continuously accomplished the developed water system as concerning about the utilisation of waterways after the construction of city.