• The Korean Journal of Applied Statistics
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• v.23 no.3
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• pp.443-456
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• 2010

This study is an empirical research of the stock markets to prove the synchronization phenomenon of the world economy. For this research I analyzed Korea's KOSPI, USA's DOW & NASDAQ reflecting stock markets in North America, Japan's NIKKEI in Asia, and Germany's DAX in Europe. Because the raw series are not stationary, they are to be transformed to returns series. The results of the study are follows: First of all, there are significant causalities between KOSPI's returns and those of other indices. Second, feedback effects are found between the market returns with several time lags. Third, there are 4 cointegrating equations which embody the relation of the five returns series. And forth, KOSPI reacts more sensitively to impacts from the foreign indices compared to the other indices do when they got impacts from each other except KOSPI. On conclusion, there exists a clear evidence for the synchronization phenomenon in returns of the stock indices, and we can expect Korea market may get similar changes depending on the economic changes of North America, Europe, or Asia. Therefore more closing researches should be conducted about the world economy synchronization in various fields as soon as possible.

• Journal of Platform Technology
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• v.9 no.4
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• pp.10-31
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• 2021

The digital tax, recently referred to as the Google tax was finally agreed at the 31st General Assembly of the OECD (October 8, 2021) with full support by 136 countries and will take effect from 2023. The purpose of this study is to analyze the digital tax prepared by the OECD for global MNEs, and to suggest the impacts on the Korean industry and to present the Korean governmental countermeasures. As the first study, we analyzed the international agreement on digital tax. In results, we found that even if global MNEs do not set up a business operation in overseas countries, if sales and profits are generated, 25% of the excess profit is borne as tax (pillar 1), and when MNEs do business in all the countries, they are liable to at least a 15% tax (pillar 2). We think that countries around the world have prepared a minimum countermeasure to protect their companies in anticipation that global MNEs will easily encroach on their markets in the future. As the second study, in order to discover the reason why the MNEs are so strong, we investigated the trends of Google and B2B SaaS companies in details. In results, we discovered that the global MNEs establishes a digital platform partnership ecosystem that enables them to enter foreign markets easily and expand rapidly. In conclusion, as a countermeasure for the Republic of Korea, governmental policies were proposed at the corporate (startup nurturing), industry, and national level respectively.

• Korea Trade Review
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• v.42 no.6
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• pp.111-129
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• 2017

According to the World Bank statistics, China's contribution to global economic growth during the year of 2013-2016 was estimated at 31.6 percent. This figure is even larger than 29.0 percent, the contribution by summing each contribution of the United States, EU and Japan. The Chinese commodity trade accounts for up to 11.5 percent of world trade volume. Thus, we can consider that the Chinese economy has a strong influence on the global economy. The primary purpose of this study is to analyze the contribution level of Chinese seaborne trade volume on world economy. First, this study conducted a time-lag analysis using Moran test, so we can find that China's level of contribution to global economic growth varies from time to time. The contribution of the first phase (1999-2007) was nearly three times higher than the contributions from the second phase (2008-2016), suggesting that the overall contraction of the global trade volume starting from the subprime mortgage crisis in 2008 has continued until recently and recovery has not even occurred. Second, using the econometrics model, this study conducted an regression analysis of the impact of Chinese imports and exports in chemicals, grain, steel, crude oil, and container on global economic growth. Fixed effects model with time series data has been applied to examine the effect of Chinese seaborne trade volume on global economic growth. According to the empirical analysis of this study, China's exports of steel products, exports of container, imports of containers, imports of crude oil and imports of grain have significant contributions to global economic growth. Estimates of China's exports of steel products, exports of container, imports of containers, imports of crude oil and imports of grain are 1.023, 1.020, 1.019, 1.007 and 1.006, respectively. For example, the estimated value 1.023 of China's exports of steel products means that the growth rate can be 1.023 times higher than the current world GDP growth rate if Chinese seaborne trade volume of exports of steel products increased by one unit (one million tons). This study concludes that the expansion of China's imports and exports should be realized first to increase the global GDP growth rate. The expansion of Chinese trade can lead to a simultaneous stimulus of production and consumption in China, which can even lead to global economic growth ultimately. Thus, depending on how much China's trade will be broaden in the future, the width of global economic growth can be determined.

• Korea Trade Review
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• v.43 no.4
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• pp.155-175
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• 2018

This study estimates the technical efficiency and total factor productivity(TFP) of and analyzes the relationship between TFP and exports for Korean manufacturing companies from 2000 to 2016. Specially, TFP is decomposed into Technical Change(TC), Technical Efficiency Change (TEC), and Sale Effect(SE), and compared between large and small enterprises. First, in the case of technical efficiency, the Korean economy has been very vulnerable to external shocks, such as the sharp decline following the 2008 financial crisis. The efficiency of the electronics, automobile, and machinery sectors is low and needs to be improved. In addition, the technological efficiency of large enterprises is higher than that of SMEs in most manufacturing sub-sectors except for non-ferrous metals. In the case of TFP, most changes are due to TC, and the effective combination of labor, capital and the effect of scale have little effect, suggesting that improvement of internal structure is urgent. In addition, volatility due to the impact of the financial crisis in 2008 was much larger in SMEs than in large companies, so external economic impacts are more greater for SMEs than large enterprises. The relationship between TFP decomposition factors and exports shows that TC has a positive effect only on exports of SMEs. Therefore, in order to increase exports, in the case of SMEs, R&D support to promote technological development is needed. In the case of large companies, it is necessary to establish differentiated strategies for each export market, competitor company, and item to link efficiency and scale effect of exports.

• Korea Trade Review
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• v.43 no.3
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• pp.1-26
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• 2018

This study estimates the technical efficiency and total factor productivity(TFP) of and analyzes the relationship between TFP and exports for Korean manufacturing companies from 2000 to 2016. Specially, TFP is decomposed into Technical Change(TC), Technical Efficiency Change (TEC), and Sale Effect(SE), and compared between large and small enterprises. First, in the case of technical efficiency, the Korean economy has been very vulnerable to external shocks, such as the sharp decline following the 2008 financial crisis. The efficiency of the electronics, automobile, and machinery sectors is low and needs to be improved. In addition, the technological efficiency of large enterprises is higher than that of SMEs in most manufacturing sub-sectors except for non-ferrous metals. In the case of TFP, most changes are due to TC, and the effective combination of labor, capital and the effect of scale have little effect, suggesting that improvement of internal structure is urgent. In addition, volatility due to the impact of the financial crisis in 2008 was much larger in SMEs than in large companies, so external economic impacts are more greater for SMEs than large enterprises. The relationship between TFP decomposition factors and exports shows that TC has a positive effect only on exports of SMEs. Therefore, in order to increase exports, in the case of SMEs, R&D support to promote technological development is needed. In the case of large companies, it is necessary to establish differentiated strategies for each export market, competitor company, and item to link efficiency and scale effect of exports.

• Journal of Digital Convergence
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• v.11 no.12
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• pp.835-843
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• 2013

Despite their social mission, social enterprises work in the changing global economic environment and therefore face to comply with performance objectives. This situation means that human resources management strategy has a crucial role to play. Especially, the challenge in maintaining competitive efficiency depends on achieving a lower level of employee turnover. This study aims to investigate the role of job insecurity, job satisfaction, relationship with customers regarding the intention of retention among social enterprise workers. Data were collected in South Korea from 271 women employees in 36 social enterprises and the binomial logistic regression was used to assess the model hypothesized. As the result, social enterprise employees showed a considerably positive attitude toward the intent to stay their workplace. However, job insecurity appeared to have the strongest negative effect on the intention of retention, whereas job satisfaction and relationship with customers had the positive effects, above and beyond demographic variables and organization variables. The result suggested the human resource management can play a significant role in retaining social enterprise employees by reducing job instability and improving job satisfaction and customers management.

• Journal of Korean Society of Transportation
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• v.25 no.6
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• pp.89-97
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• 2007

The car-dependent traffic system based on highly advanced industrialization and economic growth causes various urban problems including traffic jams, energy consumption, air pollution, noise, car accidents and other issues. Particularly in urban areas, air pollution from motor vehicles is worse than pollution from past industrialization. In this study, therefore, the authors grasped car exhaust reduction effects by using microsimulation and those traffic policies that could make cars flow smoothly, reducing the air pollution in urban areas through analysis on profitability. As a result, the weekday-based car using system has been found most effective as it does not need investment cost. However, this system may be socially unacceptable, as it requires the government to change driver behavior. Therefore, the government needs to first reach a consensus with the citizens regarding this system. This system will also be effective with other alternatives. As a follow-up study, the authors will research citizens' perceived impacts of car exhaust on air pollution through a study on preference and grasp the possibility of applying these study results to real traffic policies.

• 한국환경농학회:학술대회논문집
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• 2009.07a
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• pp.228-239
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• 2009

The observations on climate change show a clear increase in the temperature of the Earth's surface and the oceans, a reduction in the land snow cover, and melting of the sea ice and glaciers. The effects of climate change are likely to include more variable weather, heat waves, increased mean temperature, rains, flooding and droughts. The threat of climate change and global warming on human and animal health is now recognized as a global issue. This presentation is described an overview of the latest scientific knowledge on the impact of climate change on zoonotic diseases. Climate strongly affects agriculture and livestock production and influences animal diseases, vectors and pathogens, and their habitat. Global warming are likely to change the temporal and geographical distribution of infectious diseases, including those that are vector-borne such as West Nile fever, Rift Valley fever, Japanese encephalitis, bluetongue, malaria and visceral leishmaniasis, and other diarrheal diseases. The distribution and prevalence of vector-borne diseases may be the most significant effect of climate change. The impact of climate change on the emergence and re-emergence of animal diseases has been confirmed by a majority of countries. Emerging zoonotic diseases are increasingly recognized as a global and regional issue with potential serious human health and economic impacts and their current upward trends are likely to continue. Coordinated international responses are therefore essential across veterinary and human health sectors, regions and countries to control and prevent emerging zoonoses. A new early warning and alert systems is developing and introducing for enhancing surveillance and response to zoonotic diseases. And international networks that include public health, research, medical and veterinary laboratories working with zoonotic pathogens should be established and strengthened. Facing this challenging future, the long-term strategies for zoonotic diseases that may be affected by climate change is need for better prevention and control measures in susceptible livestock, wildlife and vectors in Korea. In conclusion, strengthening global, regional and national early warning systems is extremely important, as are coordinated research programmes and subsequent prevention and control measures, and need for the global surveillance network essential for early detection of zoonotic diseases.

• The Journal of the Korea Contents Association
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• v.13 no.11
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• pp.845-855
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• 2013

In today's knowledge-based industries, knowledge can be said to be a significant factor that has a decisive impact on corporate competitiveness. Recently, Korean construction companies have been going through a difficult period of time because of various negative domestic and foreign factors, such as economic decline and a continued sluggish domestic construction market, mainly due to the Korean government's real estate regulations and increasing competition from overseas companies with improved technologies. To help domestic construction companies navigate such an environment, this study empirically analyzes how the nature of corporate knowledge impacts the acquisition, transfer and deployment of knowledge within the organization of a company. Through such empirical analysis, we looked into how internal attributes of corporate knowledge affect the acquisition, transfer and application of such knowledge for domestic construction companies, with the application of the structural equation modeling (SEM). According to the results of this study, it is clear that the attributes of corporate knowledge have a significant impact on the acquisition, transfer and application of corporate knowledge, and therefore on the managerial performance of domestic companies.

• The Research Journal of the Costume Culture
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• v.26 no.3
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• pp.346-359
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• 2018

Currently, dramatic change had led to the growth of the distribution environment and the retailer's distribution channel. This change had shifted the 'single channel' to 'multi channel', and from 'cross channel' to 'omni channel'. While fashion companies using omni channel are rapidly growing, few research regarding omni channel had been done in academic field. In this study, we examined the influence of omni channel characteristics on consumers' perceived risk as well as consumers' perceived risk toward attitude and intention to use omni channel. We surveyed 696 male and female respondents aged 20 to 40 who lived in Seoul and the metropolitan area. Using AMOS 20.0, factor analysis, reliability analysis, and structural equation model analysis were performed to verify the model of this study. The results were as follows. First, omni channel's instant connectivity, location-based provability, interactivity, and entertainment factors did not decrease impacts on the perceived risk related to privacy and annoyance. Second, omni channel's instant connectivity and entertainment did not increase effects on the perceived financial risk, and location-based provability and interactivity did not increase effect on perceived financial risk. Third, the perceived risk concerning omni channel did not decrease on consumer attitude toward omni channel. Fourth, consumer attitude toward omni channel influenced the intention to use omni channel significantly.