Economy In Korea Research Articles

Impact of information publicity on Korean residents’ E-waste recycling intentions: Applying the norm activation model and theory of planned behavior

The escalating annual growth rate of electronic waste, commonly referred to as “e-waste,” is currently between 3 % and 5 %, indicating a rapidly increasing solid waste stream. In 2019, South Korea generated 15.8 kg of e-waste per capita. The expansion of South Korea's economy, driven by technological advancement, is a key contributor to this surge in e-waste production. This study examined the impact of information publicity on South Korean residents' e-waste recycling intentions analytically with a quantitative approach. It expanded the norm activation model and theory of planned behavior by incorporating external information elements, including information publicity, in an analysis of 500 responses from the mainland and Jeju Island regarding residents' e-waste recycling intentions and behaviors. The model was validated with partial least squares structural equation modeling via the WarpPLS approach, which is well suited to a model using moderating variables, and the analysis was conducted with WarpPLS 7.0 software. While information publicity did not directly influence residents' intentions to recycle e-waste, it indirectly affected them through two mediating variables: recycling attitudes and moral norms. Additionally, information publicity directly impacted perceived behavioral control. However, perceived behavioral control was not a mediating factor between information publicity and recycling intention. Hence, although people were aware of recycling infrastructure convenience, this awareness did not change their intentions. Current e-waste recycling information and publicity campaigns may be insufficient; the government should improve its publicity events and increase their frequency to encourage effective recycling behavior.

External financial and monetary policy shocks: Do they matter for Korean macroeconomy?

Given Korea's status as a small, open economy, it exhibits a pronounced sensitivity to external shocks. Consequently, this article seeks to elucidate the impact of external financial and monetary policy shocks on the fluctuation of critical macroeconomic variables within Korea. Employing Bayesian estimation alongside the impulse response function for empirical analysis, the findings reveal that external financial and monetary policy shocks precipitate declines in exports, output, employment, real wages, consumption, investment, and imports. Conversely, these shocks are associated with increases in both the price level and inflation, highlighting the multifaceted effects of external pressures on the domestic economic landscape. Further, through forecast error variance decomposition, this study demonstrates that, relative to shocks stemming from productivity, terms of trade, and real exchange rate variations, external financial and monetary policy shocks exert a considerably milder impact on the fluctuations of Korea's key macroeconomic variables. This insight suggests a potential area for enhancement in the existing Korean literature on this topic, advocating for the integration of these findings to enrich understanding and analysis. In summary, by delving into the nuanced effects of external shocks on Korea's economy, this article contributes valuable perspectives to the discourse, suggesting avenues for further research and policy formulation. The integration of these results into the broader body of Korean economic literature could significantly augment current understandings and interpretations of Korea's economic dynamics in the face of global financial and monetary turbulence.

음식 주문 배달 산업의 긴꼬리 효과에 관한 실증 연구

Purpose - This study aims to quantify the long tail effect in the digital economy. It also investigates the role of digital platform before and after the COVID-19 pandemic. Design/methodology/approach - We take advantage of a granular data set from one of the biggest digital platforms in Korea. Rather than computing the absolute number of products sold or the Gini coefficient, we estimate the slope of the log-linear relationship of the non-parametric sales distribution. Findings - We find that the use of online food order and delivery services is positively associated with individual restaurant’s sales growth. We also document that the long tail effect is increasing over time. Long tail effects are clustered in the cross-section where average revenue per order is high or the restaurant belongs to the top 50% of the sales distribution. Research implications or Originality - The findings may indicate that digital platforms are contributing to the development of the digital economy in Korea. Also, we confirm that digital platforms make it possible for small and sole proprietors to go through the difficulties induced by the COVID-19 pandemic.

Recycling, Material Flow, and Recycled Content Demands of Polyethylene Terephthalate (PET) Bottles towards a Circular Economy in Korea

The recycling and proper management of PET bottles is needed to avoid plastic pollution, as well as to achieve a plastic circular economy. In this study, we examined the recycling system of PET bottles and their material flows by life cycle, from production to recycling and disposal under different scenarios with reduced consumption for PET bottles. In Korea, PET bottle recycling has been managed by the extended producer responsibility system since 2003. As of 2021, annual usage of PET bottles per capita in Korea was estimated to be approximately 6.5 kg. The recycling rate of PET bottles after collection was determined to be 79% in 2021. However, recycled PET (or r-PET) from mechanical recycling is mostly used in low-grade PET applications such as short fibers, bands, and sheets. More than 112 thousand tons of r-PET chips would be needed to meet the 30% recycled content requirement in PET bottles in 2030 by regulation. Thus, there is an urgent need for high-quality secondary raw materials (i.e., food-grade) by adopting advanced sorting and recycling technologies for PET bottles with recycled content. PET bottle-to-bottle recycling practices can ensure the production of high-quality recycled materials and move Korea toward a plastic circular economy.

Analysis of the International Trade and Ocean Economy in Korea Using a Computable General Equilibrium (CGE) Model

Analysis of the International Trade and Ocean Economy in Korea Using a Computable General Equilibrium (CGE) Model

중력모형을 활용한 우리나라 주요산업의 수출결정요인 비교 분석

Purpose - This study aims to derive export determinants for each major industry in Korea using a gravity model, and through this, suggest factors affecting the competitiveness of each industry.
 Design/Methodology/Approach - Using a gravity model, this study used annual data from 1995 to 2022 and conducted a panel analysis on the top 10 major export destination countries of Korea. The industries to be analyzed were agricultural and fishery products, chemical industrial products, iron and metal products, machinery, and electronic products.
 Findings - As a result of analyzing Korea’s major export determinants by industry using a gravity model, it was found that the per capita GDP (PGDP), which can determine the income size of the other country, gross national income (GNI) of the other country, and the population of the trading partner (POP), which can determine the size of the economy, had a positive (+) effect on chemical industrial products and machinery, and the distance variable showed negative effects on all industries except machinery.
 Research Implications - The larger the income and economy of Korea’s major trading partners, the greater the impact on exports. However, it was analyzed that the conclusion of an FTA had a positive (+) effect on agricultural, forestry, and fisheries products and steel and metal products, and the economic growth rate of trading partners had a positive effect on machinery and electronic products. The analysis results suggest that there are differences in export determinants by major industry, which requires an approach of customized export strategies by industry.

The Influence of Chaebol Solidarity on School Violence in South Korea: Insights from The Glory

School violence in South Korea is a pressing issue, surpassing the severity seen in many other countries. In an effort to address this problem, South Korea has turned to various movies and dramas to raise awareness and advocate for the prohibition of school violence. The Glory, a recent popular Korean series on Netflix, delves into the harrowing tale of a victim enduring school violence and seeking retribution. This research aims to dissect how The Glory portrays and sheds light on the issue of school violence, providing a clearer perspective on the current situation of school violence in Korea. Drawing upon cinematic and television dramas, as well as existing literature, this study seeks to gather information and ultimately provide insights into the problem at hand. Through a comprehensive examination, it becomes evident that in Korea, the entrenchment of plutocracy plays a pivotal role in the prevalence of school violence. Korea's economy heavily relies on conglomerate companies, and the nexus between Korean chaebol and the government is undeniable, wielding immeasurable power. Consequently, the influence of these conglomerates extends to the realm of school violence. This research contributes to a deeper understanding of the relationship between plutocracy and school violence, offering valuable insights for fellow researchers studying this critical issue.

Examining the resource curse phenomenon, digital finance integration, and their impacts on economic growth: Empirical insights from South Korea

This study assesses the influence of the resource curse phenomenon on the sustainable economic growth of the Republic of Korea throughout the period from 1990 to 2021. Employing the Autoregressive Distributed Lag (ARDL) methodology, the research reveals that the resource curse phenomenon poses a hindrance to the attainment of environmentally friendly economic prosperity in Korea. Notably, digital finance exhibits a positive impact in the short term on green economic growth, while good governance emerges as a pivotal driver for sustained development over the long term. The consumption of renewable resources demonstrates a favorable coefficient, signifying its constructive effect on the promotion of green economic growth. Furthermore, Information and Communication Technology (ICT) emerges as a catalyst for fostering the environmentally conscious transformation of Korea's economy, particularly in the extended time frame. Practical recommendations include expanding sustainable power generation, advancing technologies for greener utilization of fossil fuels, developing technology-driven digital finance, addressing poverty, and championing environmentally friendly governance.

Analysis of the Development and Countermeasures of the Street Stall Economy with Chinese Characteristics

The spread of COVID-19 has impeded China's economic development, and the street stall economy has significant implications for the economic development. Since Premier Li Keqiang voiced his support for the development of the street stall economy, it then has swept the nation and captured the public's attention. However, some academics have criticized the street stall economy due to its inherent shortcomings. This paper concentrates on the origin and development status of China's street stall economy, as well as its characteristics and existing problems. In addition, the paper examines the management of street stall economies in Korea and the Netherlands in order to draw on relevant and valuable experience, and concludes by proposing countermeasures for the current development of the stall economy in China. Standardizing the administration of the stall economy in China and promoting its healthy and sustainable development can be greatly aided by adopting the best practices of other countries' stall economies and combining them with the Internet's way of thinking.

Capitalism Effects through Asian Crisis: An Analysis of South Korea's Economic Policy in the Welfare State Perspective

The Asian financial crisis with a marked fall in the value of the Thai currency (Bath), initially a currency crisis was followed by a financial crisis in non-bank financial institutions which had to be closed due to bankruptcy. The economic crisis was followed and spread to South Korea, Malaysia, Indonesia, the Philippines, Singapore and other Asian countries. International institutions reacted to help with the Asian crisis, initially The International Monetary Fund (IMF) after being asked for assistance by Asian countries provided assistance. Many analyzes have been given by financial, economic and political experts, one of which is Weiss and Hobson who analyzed that the Asian economic crisis appeared to have two faces namely; the external face is in the Deep Crisis area and the external face is in the ordinary crisis area, while the crisis occurs from the role of international actors, both state and non-state actors. The social policy approach that is applied takes welfare state steps, with welfare programs implemented by South Korea including reforms in the fields of labor, market and finance, BUMN and active social policies to provide social security for the unemployed or for those who become poor in the period of national economic reform. Weiss and Hobson concluded that state guided capitalism was one of the causes of the Asian crisis.

Prevalence of cardiovascular risk factors among Asian migrant workers in South Korea.

The burden of non-communicable diseases is rapidly increasing among young adults in middle- and low-income countries. Asian migrant workers continue to be a significant contributor to South Korea's economy; however, their cardiovascular health is neglected. We explored the prevalence of cardiovascular risk factors among Asian migrant workers in South Korea. Cross-sectional survey, anthropometric measurements, blood pressure measurements, and biochemical tests including triglyceride, high-density lipoprotein, low-density lipoprotein, total cholesterol, fasting blood sugar, HbA1c, and C-reactive protein levels were conducted in 141 Asian migrant workers in South Korea. The mean age of the participants was 31.3 (5.6) years. Of the participants, 14.8% were current smokers, and 47.5% consumed alcohol. The prevalence of overweight/obesity was 32.4%. The prevalence of hypertension and dyslipidemia were 51.2% and 64.6%, respectively. Of the participants, 98.5% had an increased waist circumference; elevated HbA1C and C-reactive protein was seen in 20.9% and 4.3%, respectively. The prevalence of metabolic syndrome was 5.5%. Clustering of two or more risk factors was seen in 45% of the participants. Factors associated with a high risk of cardiovascular diseases (clustering of two or more risk factors) were age (odds ratio 1.16, p < 0.01) and smoking (4.98, p < 0.05). The prevalence of cardiovascular risk factors was alarmingly high among Asian migrant workers employed in South Korea. Efforts to mitigate and eliminate those risk factors are urgently required.

South Korea’s Economic Security: Prospects for Greater Cooperation with India

The economic security of middle powers across the world is being challenged by great power rivalry and, more recently, Russia’s invasion of Ukraine. One of the largest trade and investment countries globally, South Korea is amongst the middle powers most affected by these developments. In this context, South Korea needs to finetune its economic security strategy. One way of doing so is by diversifying its economic relations. In this respect, India, a fellow middle power and also one of the biggest economies in the world, is a key partner. Supply chains, trade, investment and human capital have all been benefiting from strengthening links between South Korea and India, and will be key moving forward as the former seeks to further boost its economic security. Indeed, South Korea and India have been strengthening their links in the intertwined areas of maritime security, cyber security, and economic security in recent years. This suggests that economic security is part of broader security cooperation between the two partners.

김정은 집권 이후 북한 경제 관련 법령의 변화

JAfter Kim Jong-il died in December 2011, his son Kim Jong-un implemented various economic reform measures to solve North Korea's economic problems, and accordingly, significant changes occurred in North Korean economy-related laws. The purpose of this article is to analyze the changes in North Korea's economy after Kim Jong-un came to power, focusing on North Korean laws and regulations. Since the enactment of the Socialist Constitution in 1972, the fundamental ideology of the North Korean economy has been ‘socialist relations of production(nationalization of the means of production)’, ‘independent national economy’, and ‘planned economy’, which have been maintained even after Kim Jong-un took power. However, after Kim Jong-un came to power, North Korea adopted a new method of economic management called the “socialist corporate responsibility management system,” which was also specified in the 2019 amended constitution. The Socialist Enterprise Responsible Management System granted “actual management rights” to enterprises, and as a result, the autonomy of enterprises was greatly expanded. In particular, enterprises and farms were able to plan and produce on their own under the names of 'enterprise index' and 'farm index', respectively, and decide the price to sell, which is a significant change in the socialist planned economy. can be said However, it is questionable how much the socialist responsible management system can achieve in a situation where the ownership and management of enterprises are not separated. Various measures to improve the economy have been implemented since the early days of Kim Jong-un's reign, and the results are being completed and organized through the revision of relevant laws and regulations. From the time Kim Jong-un came to power until 2019, North Korean economy-related laws were mainly revised in the direction of expanding the management rights and autonomy of enterprises and farms. However, after 2020, it has changed in the direction of strengthening control over enterprises and society as a whole. As a result, there is a possibility that the autonomy of enterprises or private economic activities will shrink in the future. It is necessary to pay attention to changes in North Korea's economy-related laws in the future.

Women in the Sky: Gender and Labor in the Making of Modern Korea

Women in the Sky: Gender and Labor in the Making of Modern Korea

The Influence of Sino-US Trade War on China-ROK Relations

For China and the United States, South Korea is an important trading partner, and it is also highly concerned about the Sino-US trade war. Because South Korea's economy relies heavily on the external environment, it has also been impacted to a certain extent by the Sino-US trade war. Although some studies believe that the Sino-US trade war has brought new development opportunities to South Korea, from a practical perspective, South Korea's gross domestic product, export trade, and stock market have been greatly impacted, especially by the intensified competition among big countries and the reshaping of global value chains brought about by the Sino-US trade war. With the intensification of the Sino-US trade war, both China and South Korea should think about how to reduce the influence of Sino-US relations and maintain the stability of Sino-Korean relations. Therefore, South Korea needs to actively adjust its economic policies, speed up the upgrading of its economic cooperation with China, take the initiative to seize the American market, and play a certain role in promoting regional multilateral economic cooperation and economic and trade diversification, especially avoiding taking sides between China and the United States. China, on the other hand, should strengthen its economic and political cooperation with South Korea so as to alleviate other countries' worries about Sino-US competition and the rise of China and thus realise the stable, healthy, and sustainable development of China-South Korea relations.

Shipping activities and marine education during the colonial era in Korea, 1910–1945

As Korea's economy has developed swiftly over the past few decades, its shipping industry has grown so rapidly that in 2021 it was the seventh largest ship-controlling country in the world. Some have argued that Japanese colonial rule caused the rapid growth of Korea's economy. This article analyses shipping activities and marine education from 1910 to 1945 to confirm the origin of the modern shipping industry in Korea. After reviewing the arguments on the role of colonial rule in the development of shipping during the colonial period, the article reconstructs the development process of the Chosen Yusen Corporation as the sole ocean-going shipping company during the colonial period. The role of marine education is then discussed in relation to cultivating human capital for the shipping industry. This article might help with understanding that colonial rule itself cannot bring about the development of a former colonial country after liberation.

Climate Change Impacts on the Domestic Economy in Korea: A Chronic Risk Perspective

Climate Change Impacts on the Domestic Economy in Korea: A Chronic Risk Perspective

Korea's Economic Policy Changes: Reflected in the Corporate Financial Indicators During the Last 60 Years

Korea's Economic Policy Changes: Reflected in the Corporate Financial Indicators During the Last 60 Years

성명상표의 사용권에 관한 논의

Currently, a big wave of Korean culture is heating up the world, which indeed contributes to growing economy of Korea. In addition to the income earned from sales of music records and movies, the marketing business using the names of celebrities also forms a big size of market. As a result, there were often legal disputes arising from the rights of trademarks including the stage name or group name of celebrities. In particular, just before the end of the exclusive contract, the agency registered the celebrity's name as a trademark, thereby provoking a legal dispute between the former agency and the celebrities. In this study, we discussed whom the trademark rights, including celebrities’ names, should belong to. In the first session, we introduced two examples for disputes in regard to the trademarks including the idol group names. To express our critical opinions on this, it was discussed that the current trademark law could infringe on the personal rights guaranteed by the Constitution. Furthermore, our opinions to reasonably compromise these conflicts between the legal rights were proposed as follows. First of all, we suggest that it is necessary to legislate the publicity right, so that the personal right of celebrities can be protected as the property right is. Because the process of enacting a new law is very difficult, we proposed another idea to revise the current law. Thus, we noted that some provisions of the Trademark Act and the Unfair Competition Prevention Act are needed to be revised for preventing the infringement of the personal rights, and also proposed our opinions on how to revise these provisions.

The Conception of Soft Power in Korean’s Popular Culture

The Republic of Korea plays one of the leading roles in the global economy and is a dynamically developing country. As one of the key elements of South Korea's success, many researchers in their works note the so-called concept of "soft power". The Republic of Korea has great resources of "soft power" and actively uses them. The concept of "soft power" considered in this paper was first proposed by J. Nayem and now this concept has firmly entered the lexicon of world science. The Republic of Korea turned to the concept of "soft power" about twenty years ago. The strategy of the modern concept of "soft power" of the Republic of Korea is based on the dissemination of traditional cultural values and pop culture. South Korea places a great emphasis on the "soft power" of culture, which helped it shape a positive image and create its South Korean attractive brand on the world stage. In this paper, the "soft power" of the culture of South Korea is considered using the example of cybersports and the phenomenon of "Korean wave" or "hullu" Korean pop culture plays a vital role in the global economy of Korea and is dynamically leading in the music industry around the world. The key element in this economy growth is often cited as ‘soft power’ by many researchers alike. The concept of soft power was first proposed by Joseph Nye in regards to the ability to achieve goals through attraction and persuasion, rather than coercion or fee. The concept of soft power in the Republic of Korea is based on the dissemination of their pop culture and cultural values. This concept paper looks at how Korea uses soft power in the phenomenon of “Korean wave” which helped shape a positive image and create its Korean attractive brand on the world stage. The discussion states that soft power is more is a more efficient and effective concept in global culture as it provides more sustainability for in terms of cultural growth.