• Journal of the Economic Geographical Society of Korea
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• v.1 no.1
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• pp.11-32
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• 1998

Globalization of economy has a significant impact on the organization of economic Space. This paper examines the concepts of globalization and localization, major trends of the changes in the organization of economic space in the Pacific rim, and the major processes of the changes. Intra-regional trade and foreign direct investments have increased considerably in the Pacific region with the progress of globalization during the last decade. Due to the Progress of globalization of economy in the Pacific rim, some growth triangles have extended their agglomeration area beyond the national boundaries and several new industrial districts have developed. The reorganization of the economic space in the Pacific rim has been resulted from industrial restructuring of NIEs, spatial division of labor along the commodity chains, and the formation of industrial networks within the region. The ‘cooperative network strategy’has been suggested to minimize the negative effects of glocalization and for the sustainable development in the Pacific rim.

• Journal of the Economic Geographical Society of Korea
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• v.11 no.3
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• pp.273-301
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• 2008

This study aims not only to examine the globalization, imformationization, and networking as background of knowledge-information-based society, but also to clarify the research fields of 'geography of knowledge' and further research themes for economic geography in a knowledge-information-based society. As a result of globalization, the degree of regional disparity, which had decreased with neoliberal policy in Europe and America in 1980's, has increased in early development states such as China and Eastern European countries. In opposition to the globalization that has led to increasing regional disparities at a global scale, many scholars argue that grassroots globalization or globalization from below is needed. Based on a pessimistic view on globalization, many maintain that unequal access to information has enlarged the gap between rich and poor. They also argue that the study of the geography of poverty is crucial in oder to solve the problem of bipolization. According to the world system theory, spatial grasp of commodity chains, actors' diversities, flows towards innovation in learning knowledges, and geographical, organizational, and institutional proximities are intertwined. Because these elements make significant influences each other in social networks, the interrelationships among those elements should be carefully considered. A 'geography of knowledge' deals with manufacturing, finance and service, media, cultural, and creative industries. Former researches in economic geography have tended to deal with those industries separately without attempting to make meaningful linkages among discussions on those industries.

• Korean Journal of Social Welfare
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• v.44
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• pp.117-145
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• 2001

This paper attempts to assess the impact and implication of globalization on social welfare in Korea. It is no easy task to give an exact definition of globalization and the concept has been used in many different senses, that is, economic, social, cultural, political globalization. In particular, the meaning of globalization is connected to the rise and expansion of neo-liberalism. Globalization tends to undermine national welfare systems by the social dumping, race to the bottom, privatization of social services, labor market flexibility. On the other hand, in many studies the negative impact of globalization on social welfare has been questioned. Instead of end or erosion of the welfare systems, it is emphasized that competitiveness and welfare may go hand in hand. We investigate the question what and how the social welfare system in Korea has been changed in globalization process. In order to answer, this paper examines the changes in welfare ideology, welfare programs, social stratification level after economic crisis. The result of analysis is that in contrast to globalist expectations which is to retrench social welfare, paradoxically, the welfare system in Korea has been reinforced in globalization process. Therefore, the alleged impact of globalization on social welfare will be independent on the structure of domestic institution, political legacies, and on the socialization of global politics such as IMF, World Bank, ILO, UNDP, etc., on the welfare politics of stakeholders in national state.

• International Commerce and Information Review
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• v.7 no.3
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• pp.287-300
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• 2005

The globalization of services is closely related to other economic problems facing the world today. These are: 1) the globalization of economic activities, 2) the servicization of economic activities. The world economy is now move interconnected than at any time in its history. Investment decisions, production processes, labor market regulations and even environmental legislation made by one country or company affect other economies, other companies and the lives of individuals. In fact, it is nearly impossible to think of a country that is not connected to the world economy in some form or another and it is no exaggeration to state that globalization is already an unassailable fact. The fabric of our economy and the way we do business are changing. This change is the transformation from a marketplace on goods to one focused on services. That is to say, we live and work in a service-centered, service-sensitive economy. As a result of the globalization an servicization of economic activities, services require the globalization, and services are increasing their international trade, foreign investment, agreements, alliances, mergers and collaboration networks. It is quite obvious that services are affected by globalization ; but raising the question by how much leads us to the paradox of service globalization, services represent 70% of the most advances economies but only account for less than 25% of international trade and almost half of direct investment; mergers and takeovers. These figures create a paradox that can be explained by two reasons. First; the natural(the service relationship) and artificial difficulties(barriers to trade) faced by the service sector that inhibits globalization. Second, the non-inclusion in official statistics of the share of internationalized goods that are due to services, for example intra-firm trade or the service value incorporated into exported goods. If these were taken into account the service trade figures would be extremely different. The first explanation can be subdivided into a number of elements. The OECD identifies six reasons:services cannot be stored; client-supplies interaction requires local presence; most service firms are SEMs; products are highly differentiated; cultural differences are especially important in this field; and, finally, trade barriers and restrictions on local operations exist. However, despite all of this, globalization produces clear advantages to suppliers. Therefore, the objective of this study is to explore the main forms of service globalization and differences between that of goods, and is to identify distinctive aspects of service globalization within the framework of the global economy.

• Journal of the Economic Geographical Society of Korea
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• v.7 no.2
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• pp.245-260
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• 2004

The author made two major arguments in this paper based on a case study on Songdo Free Economic Zone in South Korea. First, the state power is still being maintained when looking at the development process of the project. Planning and development has been mainly on the hands of government officials. The project reflect the logic of the state rather than the market. And the government tries to manage globalization through Songdo project. Second, even though globalization did not bring about the decline of the state, it changed the state's approach on spatial issues. Songdo is an articulate expression of pursuit of efficiency over equity with the rise of the globalization wave. Songdo also leaves the Korean state a task for consensus-building concerning liberalization.

• Journal of Korea Trade
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• v.25 no.7
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• pp.41-55
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• 2021

Purpose - This paper empirically investigates the relationship between the Economic Complexity Index (ECI) and the level of development. Moreover, this research attempts to discover the determinants of ECI in the globalization wave. Design/methodology - Our empirical model considers the relationship between ECI and the level of development in middle- and high-income economies from 1995 to 2010 by using systemic qualitative analysis, including OLS, fixed-effects, and system GMM. Next, this research used OLS regression to find the determinants of ECI. In particular, we compared the effects of different factors on ECI in the different development stages. Findings - Our main findings can be summarized as follows: 1. If the ECI increases by 1, it could lead to an increase of about 30% in the level of development in middle- and high-income economies. 2. Human capital plays an important role in the development of and increase in ECI. 3. GVC participation and outflow FDI enhance an increase in ECI, in particular in middle-income economies. 4. The development of manufacturing industries is helpful to increase ECI; however, middle-income economies should pay more attention to their comparative advantage industries. 5. R&D has positive effects on the ECI. Originality/value - To the best of our knowledge, this is the first paper that uses systemic qualitative analysis to investigate the relationship between ECI and the level of development. The paper provides suggestions for policy makers to increase ECI under the current wave of globalization, in particular in middle-income economies.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.12
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• pp.9-17
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• 2021

Globalization is an economic process responsible for the increase of interdependence of world economies. It enhances the mobility of national resources internationally via the integration of markets, trade and investments with minimal barriers to slow the flow of products and services. Although globalization has some positive impacts on the economy, it is said to be a factor in the decline of income inequality of the participating countries. However, the results of previous studies on the relationship between globalization and income inequality are inconclusive. This suggests that there are other factors influencing the relationship between the two variables. The purpose of this study is to examine the role of intelligence (IQ) in the globalization-income inequality relationship. This study employs the threshold regression technique and cross-nation observations from 117 sample nations for the period 1980-2016. The results show that the impact of globalization on income inequality in a nation relies on its IQ level. The results imply that economic globalization has a negative impact on income inequality in nations with lower IQ levels. It widens the gap between the poor and rich. While in nations with higher IQ levels, it seems to not have any significant impact on income distribution.

• East Asian Journal of Business Economics (EAJBE)
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• v.5 no.1
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• pp.1-9
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• 2017

Nigeria like many other developing countries' eagerness to accelerate socio-economic development has prompted her to adopt several approaches over the years since independence. These have ranged from the import substitution scheme, the indigenisation policy, and structural adjustment programme to the national economic empowerment development strategy. Nigeria has sought to widen her economic base by engaging in increased cross-border trade and investment activities. This is with a view to spurring the process of industrialization and ultimately lowering the level of poverty in the country. This has led to the formulation of various industrial policies and processes, all geared towards integration into the world economy. Using secondary sources, this paper seeks to analyze Nigeria's journey towards industrial development especially within the context of globalization. It concludes by explaining the impact of the new economic paradigm on the country's quest to industrialize and recommends alternative path towards development and growth.

• The Journal of the Convergence on Culture Technology
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• v.9 no.3
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• pp.769-777
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• 2023

Globalization has brought about rapid economic, technological, and cultural changes. In order for countries around the world to communicate, recognize and understand globalization, creativity or planning ability can be used to code. In this paper, we would like to present and prove a data analysis that can solve world problems. In the global market, the value of goods or services increases with connectivity. This connection is becoming one of the factors that increase the value of culture. Changes taking this into account promoted cultural spread and innovative growth, and increased productivity and competitiveness in each region of the world. This paper compares the income of the middle class in the United States on the impact of globalization and anti-globalization on cultural spread and innovative growth. Globalization has created an environment in which various elements of K-culture can interact and spread. Through the Internet, social media, and international travel, globalization has had a positive impact on Korea's innovative growth. In areas such as economic activity, technological innovation, and creative industries, globalization has facilitated new tech and approaches, Through this, it changed the existing economic model and contributed to exports K-culture with a new middle class model. However, globalization in the cultural industry can result in the loss of regional characteristics & individuality, which can lead to the middle class cultural unification and alienation(chasm). As a result of the empirical analysis of K-exports for the middle income in the United States, cultural diffusion and innovation must be developed even in anti-globalization. With these industrial changes the soft power value of the Korean Wave proves that it can create value for use for the middle class of major exporting countries.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.8 no.3
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• pp.17-26
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• 2013

This research examines the effect of globalization of Korean economy on small and medium-sized entrepreneurial firms. When Korea underwent the Asian economic crisis in 1997, it reconstructed Korean venture industry and had helped fuel venture firms' rapid growth. Therefore, this study shows the changed structure of Korean economy and the change of venture ecosystem due to the Asian financial crisis. In spite of a favorable turn of the industrial structure toward venture firms, their globalization level is reported still being low. In this study, we also examine how the Korean economy's globalization affects to the venture environments, focusing on the degree of Korea venture's globalization and role of venture capital. This study indicates that the globalization of Korean economy has played a positive role in the growth of the venture firms. However, with the growth of venture firms, small and medium venture companies have received relatively little focuses in Korean economy because the government policy of economic development has been oriented to large companies for several decades.