• KDI Journal of Economic Policy
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• v.44 no.3
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• pp.75-99
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• 2022

This paper analyzes job creation when the Korean economy transitioned to a knowledge economy from the 1990s to the 2010s. During this period, the ratio of service to manufacturing jobs increased, knowledge intensive industries grew, and job creation became geographically concentrated around Seoul. The changes slowed down in the 2010s, and overall job growth weakened. To analyze the effect of job creation driver industries during this period, the main part of which are knowledge intensive tradable service industries, on local service job creation, I use a modified version of the local labor market of Moretti (2010). I analyze the job changes during 1995-2005 and during 2006-2016 in 237 Si-Gun-Gu areas in the Census on Establishments datasets. I find that one manufacturing job creates 0.5 local service jobs and that one tradable service job creates 1.1 jobs within Gu areas of metro cities and 2.3 jobs in Si-Gun areas. The job creation relationship between the tradable and local service sectors was not altered in this period. As more jobs were created in the tradable sector driven by the transition to a knowledge economy, job creation overall remained active, with the opposite also being true.

• East Asian Economic Review
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• v.27 no.2
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• pp.115-143
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• 2023

In this paper, we address how the monetary authority should react to financial market status and exchange rate movements in a small open economy New Keynesian model with financial frictions due to asymmetric information between savers and borrowers. We show that the small economy with financial frictions is more susceptible to the exogenous shocks under the fixed exchange rate regime than under the flexible exchange regime. The small economy experiences a more prolonged and deeper economic recession under the fixed exchange rate regime than under the flexible exchange rate regime. The monetary policy taking into account external finance premium is better than the interest rate rule without considering the financial market status.

• Journal of Legislation Research
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• no.44
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• pp.7-31
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• 2013

Paradigm of Global economy is changing to creative economy. This study focuses on the role of creative economy to clarify (understand clearly) the impact (influence) which transition of economy system will bring about. The creative economy is basically came from New economy theory. According to the New economy theory, a state can achieve sustainable growth without an inflation, or higher growth rate under given inflation rate, through an investment on ICT. However, different from America, Korea had limited effect of New Economy. This is because Korean economy had factor-input driven growth model rather than New Economy mechanism. However, ICT is essential requirement to move toward New Economy(Digital Economy), it does not sufficiently explain the increase of productivity and economic growth. A crucial point to realize New economy is how to diffuse and spill over the technology development on ICT sector to other industry. ICT is not creative industry or creative economy per se, and it should play as an enabler to improve other industry's productivity. The creative economy can be understood as an extension of New Economy theory. It means the economy that creates values by cultural assets and human resource, as well as capital and labor factors. However, if we understand the meaning of creative economy as change of input factors, it is hard to bring real shape of creative economy.

• The Korean Journal of Financial Management
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• v.12 no.2
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• pp.207-219
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• 1995

This paper develops an equilibrium asset pricing model with taxation in the economy. The expected excess rate of return on a risky asset is shown to be an increasing function of the covariance of asset return with aggregate consumption rate changes and the covariance of asset return with the tax rates as well. Thus, the expected execss rate of return can be decomposed as the consumption risk premium and the tax premium. The capital asset pricing model derived in the absence of taxes is shown to understate the expected excess rate of return and to have a misspecification error in the economy with taxation.

• The Journal of the Korea Contents Association
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• v.8 no.12
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• pp.414-423
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• 2008

The purpose of this article is identify the difference of selection attributes on super-deluxe hotel and economy hotel, which business travellers consider important and understand satisfaction with the results of it so as to seek the way for economy hotel to take superior competition differentiated from the super-deluxe hotel and towards world wide competitive level. And also it is to offer necessary basic concept for new investors or experienced investors who construct economy hotel. The results indicated that this article has an implication to offer basic data for the understand of a model of economy hotel and market segmentation for business travellers who want to the service of super-deluxe hotel level but prefer economy hotel which costs relatively inexpensive.

• Journal of Auto-vehicle Safety Association
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• v.10 no.1
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• pp.45-51
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• 2018

There are some ambiguities of the information on the fuel economy provided to the consumers because the standard and the detailed regulations for the fuel economy of the two-wheeled vehicle have not been established in Korea. Since Korea has been a signatory of World Forum for Harmonization of Vehicle Regulations since 1998, it is possible to remove the ambiguities by adopting the WMTC (Worldwide-harmonized Motorcycle Test Cycle) measurement method for the fuel economy of the two-wheel vehicle. As a preliminary study on the WMTC mode fuel economy, road loads measured by coast down method and table method were compared for the two types of two-wheeled motorcycles on sales in domestic market. In the same model, it was confirmed that the deviation of WMTC mode fuel efficiency was below -5% between products. On the other hand, the difference of WMTC fuel economy exceeded 5% between the coast down method and table method.

• International Commerce and Information Review
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• v.10 no.3
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• pp.407-436
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• 2008

The purpose of this study is to verify the economic effects of the on going Korea-EU FTA negotiations upon the regional economy and to present some strategic economic countermeasures to deal with the forthcoming changes on the economic environments. In comparing with the industrial structure between Korea and EU, due to the different specific part of their industrial competitiveness both parts would have complementary cooperative transactions and trade as well. And also Korea and EU would have the similar understanding of the importance of the field of agriculture and service in accordance with the economic standpoint respectively. The level of degree and magnitude of the effect of Korea-EU FTA upon the regional economy would be decided in accordance with the industrial structure and the level of income of the regional economy. We are not to confirm and specify the economic influences of Korea-EU FTA negotiations on the economic conditions of Gangwon province but to prepare rational economic countermeasures fit to its structural character. One of the political strategies that might be feasible is the inflow of foreign direct investment from the developed European countries to the regional economy. This developing model would mean a new experiment to activate any regional economy and a new formation of the policy of economic growth.

• Journal of Korea Trade
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• v.23 no.8
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• pp.73-88
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• 2019

Purpose - This paper finds the repurchase intentions of customers in a sharing economy via Airbnb and Uber, which are classic sharing-economy service businesses. Design/methodology - This paper analyzes sharing economy effects using variables in a structural equation model. Findings - We verified that values have a significant effect on the trust in a platform. We also verified that the effects that value propositions have on repurchase intention are significant. Research Limitations/Implications - First, there may be some distinction between men and women with regard to divided trust. Second, if commitment is divided into commitment to the host and commitment to the platform, as is the case for trust, the results will not be as expected. Third, if results could be categorized by nationality after gathering more samples, each nationality might have different opinions about these factors. Finally, the sharing economy can be identified and analyzed for various industries, such as space, transportation, and service. At this point, it is inconvenient to not have more implications. Originality/value - This study focuses on the repurchase intentions of customers. Unlike earlier studies, it is meaningful that trust is divided between the host and the platform, and that it can be analyzed. It is also important to establish the relationship between trust and commitment, and the relationship toward repurchasing in the shared-economy.

• Asian Journal of Business Environment
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• v.13 no.2
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• pp.1-7
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• 2023

Purpose: The purpose of the study is to explore the factors which influence the night-time economic development in Hanoi, Vietnam. The results can help policymakers achieve a scientific basis to plan the development of night-time economy in Hanoi. Research design, data and methodology: The research model is developed from literature review with 7 independent variables, including natural conditions and resources, infrastructure, safety, environmental issues, promotion and international integration, development of sharing economy, and institution and policy. This model is then adjusted by exploratory factors analysis to have 4 new variables: Institution and environment, Infrastructure and safety, Promotion and sharing, and Nature and resources. The model is regressed based on the data of 463 observations of night-time economy in Hanoi, Vietnam. Results: Consistent with the current literature addressing night-time economy, the results show positive impacts of all of the independent variables studied. Conclusions: It is recommended for the local authorities to strengthen advertising and promoting investment for NTE development in Hanoi city and also enhance the role of state management in NTE activities by raising awareness of the state management apparatus towards a more open-minded multi-dimensional view of the NTE, developing the NTE to overcome the barrier of thinking "if it cannot be managed, it is forbidden" in state management agencies, and defining responsibilities and authority among state management agencies in the management of NTE activities and strengthening decentralization and decentralization of powers for localities in the management and development of NTE.

• The Journal of the Korea Contents Association
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• v.20 no.12
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• pp.482-491
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• 2020

This study proposed a research model based on self-determination theory and unified theory of acceptance and use of technology to explain the factors influencing intention to use sharing economy services. A total of 392 responses were collected, and structural equation analysis was performed with AMOS 22.0. The results are summarized as follows. First, self-technological aptness and trust had a positive effect on intention to use sharing economy services. Second, access bigger market and environmental friendliness had a positive effect on intention to use sharing economy services. Third, intention to use sharing economy services had a positive effect on actual usage of sharing economy services. Finally, benefits was found to strengthen the relationship between intention to use sharing economy services and actual usage of sharing economy services. The findings of this study would provide a theoretical framework for sharing economy services and important information for understanding individuals using the sharing economy services.