• Journal of Environmental Health Sciences
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• v.41 no.3
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• pp.191-202
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• 2015

Objectives: Promotion of food safety/eradicating adulterated food has been listed as one of the four major issues recently identified for action by the Korean government. Due to the related seriousness, the food industry has been encouraged to take steps to restore consumer confidence. In order to set guidelines for the creation of manuals for the response to a food safety crisis by the food industry, this study provided a suggested organization for a crisis response team and operating procedures for crisis response activities. Methods: The prototypes of an organizational structure and a set of standard procedures for a crisis response system were provided. Results: The results of the study suggested that a crisis response team should be comprised of four divisions of responsibility: information analysis, site response, communication and operational support. The organization chart and the role and functions for each division of the crisis response team should be indicated. Response activities will be more effective when the team features multi-disciplined staffing, such as public relations, food safety/technology/quality, sales/marketing, purchasing, production, distribution/logistics, regulatory affairs/legal, and consumer service specialists. This study created a flow chart for the total crisis response system, which included crisis and normal situations. A crisis response team should be continuously operated for both crisis and normal conditions. This study also suggested a scenario to explain the procedures for crisis response activities. Conclusion: In order to cope more effectively with a food safety crisis, the organizational structure and its functions should be defined clearly, and a detailed set of standard procedures for response activities should be offered.

• Convergence Security Journal
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• v.21 no.1
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• pp.169-175
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• 2021

In the era of the Fourth Industrial Revolution, where the concept of comprehensive security is applied, the most remarkable ICT is believed to be artificial intelligence (AI). Therefore, The purpose of this study is to explore the factors and to establish a development strategy for the development of national crisis management policies based on artificial intelligence (AI). To this end, Analyze the internal capabilities of the Korean government through SPRO analysis to derive strengths and weaknesses. And the external environment through PEST analysis to derive opportunities and threats. The various factors that have been derived through SWOT analysis to derive SWOT factors with consultation from experts who studied and worked for long-term information and communication technology (ICT), security and disaster areas. Focusing on these factors, the Korean government's development of national crisis management policies in the era of the Fourth Industrial Revolution. Focusing on these factors, the Korean government established strategies for the development of national crisis management policies and made policy suggestions during the Fourth Industrial Revolution.

• Journal of Korea Society of Digital Industry and Information Management
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• v.4 no.4
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• pp.113-125
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• 2008

This paper investigates the spillover effects(co-movements) between korean and U.S stock market by KOSPI and DJIA Index. Especially it compare to the pre- and post period of U.S. financial crisis resulted from sub-prime mortgage loan. The main results are as follows. First, the spillover effects of DJIA(U.S. market) to KOSPI(Korean market) are strong. This result accord with the former researches on this subject. Second, spillover effects are more strong after U.S. financial crisis. A possible reason for this phenomenon is a trend which the major investors such as foreign and institutional investors in domestic stock market have more attention to U.S. stock market. Third, the spillover effects appear in the opposite direction, that is KOSPI(Korean Stock Market) to DJIA(U.S. Stock Market). It seems to be the results of asian stock market's growing infIuences to European and U.S Markets.

• Korea Trade Review
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• v.47 no.3
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• pp.17-35
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• 2022

The Pandemic crisis caused by COVID-19 has raised awareness of the importance of supply chain risk management, such as the control of movement between countries and the simultaneous manufacturing paralysis in the world. Effective risk management within the supply chain of the company is a core competency in the global environment. Therefore, this study quantitatively analyzed the perspective of domestic large corporations and small and medium enterprises (SMEs) by using the hierarchical analysis method (AHP) to identify the factors that should be considered as the priority when establishing supply chain risk management plans for large and small business employees. In order to conduct the study, a survey was conducted on large corporations and small and medium enterprises in Gyeongnam and Busan, and AHP analysis was conducted using Microsoft 365 excel program. In addition, Mann-Whitney U test (independent sample-nonparametric test) was conducted using SPSS/18 version of statistical package program for comparative analysis between groups. As a result, the priority was highly evaluated in the order of financial ability, competitiveness, disaster in the overall priority evaluation. There were statistically significant differences in internal risk and strategic decision making of supply chain between groups. This suggests that fandemics such as COVID-19 can not be predicted, but strategic responses are needed to utilize opportunities expressed in the crisis through supply chain risk management and to increase the competitive advantage of domestic companies even in the crisis.

• International Journal of Contents
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• v.7 no.1
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• pp.58-64
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• 2011

This paper is concerned with simulation exercises used to train key response agencies for crisis situations. While 'multi-agency' simulations are increasingly acknowledged as a necessary and significant training tool for emergency response organisations, many current crisis simulations are still focused on the revision of existing response plans only. However, a crisis requires a rapid reaction, yet in contrast to an 'emergency', the risks for critical decision makers in crisis situations are difficult to measure, owing to their ill-structure. In other words, a crisis situation is likely to create great uncertainty, unfamiliarity and complexity, and consequently should be managed by adaptive or second order expertise and techniques, rather than routine or structured responses. In this context, the paper attempts to prove that the current practices of simulation exercises might not be good enough for uncertain, unfamiliar, and complex 'crisis' situations, in particular, by conducting case studies of two different underground fire crises in Korea (Daegu Subway Fire 2003) and the UK (King's Cross Fire 1987). Finally, it is suggested that the three abilities: 'flexibility', 'improvisation' and 'creativity' are critical in responding to a crisis situation.

• KDI Journal of Economic Policy
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• v.46 no.1
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• pp.21-51
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• 2024

Since the Global Financial Crisis of 2008-2009, the importance of nonbank financial institutions in macroprudential management has increased significantly. Consequently, major countries and international financial institutions have been actively discussing and implementing macroprudential supervision and regulation for non-bank financial institutions (NBFI). In this context, this paper analyzes the systemic risk of both banks and non-bank sectors (securities firms and insurance companies) in South Korea over different time periods. Using the widely recognized ΔCoVaR methodology for measuring systemic risk, the analysis reveals that systemic risk increased substantially across all three sectors (banks, securities firms, and insurance companies) during the Global Financial Crisis, the European Sovereign Debt Crisis, and the COVID-19 pandemic. Although the banking sector exhibited relatively high systemic risk compared to the securities and insurance sectors, the relative differences in systemic risk varied across the different crisis periods. Notably, during the margin call crisis in March of 2020, the gap in systemic risk between the banking and securities sectors decreased significantly compared to that during both the Global Financial Crisis and the European Sovereign Debt Crisis, indicating that securities firms had a more substantial impact on risk in the overall financial system during this period. Furthermore, I analyze the impact of the issuance of equity-linked securities (ELS) by financial institutions on systemic risk, as measured by ΔCoVaR, finding that an increase in the outstanding balance of ELS issuance by financial institutions had an impact on increasing ΔCoVaR during the three crisis periods. These findings underscore the growing importance of non-bank financial institutions in relation to South Korea's macroprudential management and supervision. To address this evolving landscape, enhanced monitoring and regulatory measures focusing on non-bank systemic risk are essential components of maintaining financial stability in the country.

• The Journal of the Korea Contents Association
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• v.15 no.12
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• pp.471-482
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• 2015

Situational Crisis communication theory (SCCT), one of the major crisis communication theories, suggests that crisis managers have to choose the most effective crisis response strategy in accordance to the crisis type. However, there's a controversy over whether this theory is practically applicable in Korea. Therefore, this study analyzed statements of apology to see if companies in Korea are actually taking different response strategy according to the types of crisis. According to the result of analysis on 244 apology statements published in the newspapers from 2012 to spring of 2015, adaptive response strategy was mostly taken no matter what the crisis type was. In conclusion, there's a discrepancy in crisis response strategy between the theory suggested in SCCT and the current practices in Korea. This conclusion can contribute to devising an appropriate application of SCCT in Korea and to develop a more Korea relevant theory.

• Journal of National Security and Military Science
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• s.5
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• pp.131-172
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• 2007

Government duties in the cases of crisis are aimed at supporting efficient military operations in the fields of non-military affairs and resource mobilization, maintenance of government functions, and search for the public security of living during the war. In crisis, the government must change its functions into the total-war system with all resources available for the efficient performance of military operations, war economy, public safety and security as well as government continuance. The main contents of "Chung-Mu Plan" include the alternative measures to control the circulation of life necessities, emergency electricity, water and gas; recover public facilities from the disaster; and accommodate the wounded and refugees. Governments have practiced Ul-chi and ChungMoo exercises to improve government's management capabilities and master standard operating procedures including systematic distribution plans in the national and local level. However, such plans have not yet sufficient enough for the maintenance of public security of living. In addition to the conceptual ambiguity, major problems are the inappropriate system of the war economy, legal institutions, and administrative SOPs for the efficient maintenance of it. Thus, for the betterment of national crisis management system, the government should have the manual stated from every step and level dealing with crisis to the legal institutions. It is important to empower the National Emergency Planning Commission for the policy consistency and efficient/effective implementation. The comprehensive plans must have an integrated cooperative system of the central/local governments, military and civil society with actual practices and exercises for the maintenance of the public security of living.

• 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.

• Asia Marketing Journal
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• v.14 no.3
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• pp.7-26
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• 2012

The success story of E-mart fascinated many academics and practitioners alike. Though E-mart began as a nameless discount store in Chang-dong, Seoul in 1993, it has transformed itself into a leading distribution company and one of the most powerful brands in Korea. Surprisingly, it achieved the great success against the two crises it met: the national economic crisis and the invasion of the global giant Walmart. The main objective of this case study is to formally examine how E-mart overcame the two crises. More specifically, this case study highlights the ways with which E-mart turned those difficulties into opportunities for growth. In our examination of the E-mart case, we could clearly see E-mart's competence and spirit that allowed it to turn crises into advantageous opportunities. E-mart attracted the customers who wanted value-oriented consumption by its positioning as the "Lowest price discount store", when consumer sentiment was frozen under the economic crisis. Furthermore, when a large-scale foreign discount store like Walmart entered the Korea market, E-mart built its core competencies as the 'Korean style discount store'. These ingenious positioning and efforts resulted in E-mart taking over their archrival, Walmart, and forced the global Goliath to exit the Korean market. The case of E-mart's effective crisis management teaches many important lessons and a few core lessons that apply to many companies. One such lesson is the importance of positioning which enabled E-mart to turn crises into opportunities. Granted, the strategy of positioning as the 'Korean style discount store', or 'Lowest price discount store' was possible due to overall support with cost reduction, development and management of their own system, an apprentice educate system, etc. based on an excellent selection of location of the store and efficient distribution systems. Still, the positioning strategy of E-mart was truly ground breaking in distancing itself from its competitors. The lessons from E-mart will help those companies currently in a stagnant situation or a crisis to turn their obstacles into great success.