Search Results (33)

Factory automation (FA) is a vital technology that enhances manufacturing efficiency, reduces defect rates, and maximizes productivity in response to evolving market demands. This study analyzes global research and development (R&D) trends in FA based on patent information from major manufacturing countries. It also proposes growth directions for FA technology in South Korea, applying latent Dirichlet allocation (LDA) to identify key technologies for the Korean market. Specifically, FA-related technology is classified into five topics, with documents less likely to belong to a single topic being reclassified and analyzed as hybrid topics. Furthermore, this study analyzes the growth rate of FA-related technologies and the current level of technological emergence through a four-quadrant analysis, providing valuable insights into global R&D trends. The results demonstrate that artificial intelligence-related patents are important for FA. Further R&D is necessary, as the development of wireless communication technology suitable for industrial environments has become crucial and is a competitive technology for FA in terms of infrastructure and maintenance. Visual processing technology, which enables accurate decision making using artificial intelligence in a precise and constantly changing operating environment through FA, requires more attention to secure international competitiveness in the Korean market. Full article

This study is one of the first empirical attempts to quantify the social benefit of virtual power plants (VPPs) in South Korea using the contingent valuation method (CVM). As Korea pursues its ambitious carbon neutrality goal by 2050, VPPs have emerged as a critical technology for managing the intermittency of renewable energy sources and ensuring grid stability. Despite their recognized technical potential, the social and economic value of VPPs remains largely unexplored. Through a nationwide survey of 1105 households, we employed a double-bounded dichotomous choice spike model to estimate willingness to pay (WTP) for government-led VPP implementation. The analysis revealed two distinct dimensions influencing VPP valuation: electricity bill perceptions and electricity generation mix preferences. Results indicated that Korean households exhibited significant but heterogeneous WTP for VPP implementation, with unconditional mean annual WTP ranging from KRW 23,474 to KRW 26,545 per household. Notably, support for renewable energy transition showed stronger positive effects on WTP compared to nuclear expansion preferences, suggesting VPPs are primarily valued as renewable energy enablers. The substantial spike probability (32–34%) indicated that approximately one-third of the population has zero WTP, highlighting challenges in introducing novel energy technologies. Key determinants of positive WTP included perceived fairness of electricity pricing, support for market-based mechanisms, and preferences for transitioning from coal and nuclear to renewables. These findings provide critical policy insights for VPP deployment strategies, suggesting the need for phased implementation, targeted communication emphasizing renewable integration benefits, and coordination with broader electricity market reforms. The study contributes to energy transition economics literature by demonstrating how public preferences for emerging grid technologies are shaped by both economic considerations and environmental values. Full article

This study investigates how a consistent brand identity across multiple channels influences customer experiences and relationship development in South Korean retailers’ omnichannel strategies. To address the fundamental challenge of balancing brand consistency with channel-specific customization, we developed a comprehensive omnichannel identity framework through rigorous measurement development and factor analysis. This framework comprises three empirically validated dimensions: trendiness, reliability, and usability. Data collected from 994 customers of two leading South Korean retailers were analyzed using structural equation modeling, revealing that these omnichannel identity dimensions exert differential influences on cognitive and affective brand experiences, which subsequently mediate the development of customer–brand relationships. Notably, the results demonstrated significant variance in the impact of identity components between retailers—trendiness and reliability emerged as primary drivers of brand experiences for Retailer A, while usability constituted the dominant factor for Retailer B. This study contributes to sustainable retail theory by empirically validating the multidimensional conceptualization of omnichannel identity and its selective influence on customer perceptions within an environmental responsibility context. The findings provide strategic guidance for retailers seeking to develop distinctive brand identities across channels in the highly digitalized South Korean consumer market, ultimately enhancing brand equity and sustainability performance through stronger customer–brand relationships that promote environmentally conscious consumption behaviors. Full article

The shift toward new media has brought changes to market participants. New media literacy has emerged as a necessary competency for consumers, and brand engagement has become a key goal of brand communication. However, despite the established importance of new media literacy, how it affects perceptions and reactions toward brand communication has not been investigated. This study examined how functional and critical consuming literacy, which are components of new media literacy, influence brand engagement through the mediating roles of perceived interactivity and openness and the moderating effect of age. A cross-sectional study was conducted with 260 South Korean adults and a hypothetical brand’s social media post. The results showed that the effect of functional consuming literacy on engagement varied by age: functional consuming literacy in the younger group decreased perceived interactivity, perceived openness, and brand engagement. In the older group, functional consuming literacy preliminarily increased perceived interactivity. Critical consuming literacy enhanced perceived interactivity and openness, positively affecting brand engagement across all ages. This study reframes new media literacy as critical in shaping consumer behavior and brand interactions. These findings suggest that new media literacy is a critical variable in understanding consumer behavior in the new media era. Full article

This study aims to understand how InsurTech has developed in Korea. To achieve this, we collected InsurTech-related news articles published in the Korean media over the past eight years. Using a relatedness analysis based on the TopicRank algorithm, a text-mining technique, we extracted the top keywords associated with InsurTech by year. The extracted keywords were analyzed and discussed in terms of development trends: which technologies gained prominence over time, who the key players were, and what solutions were introduced. The analysis revealed several key trends in InsurTech’s development in Korea. First, regarding changes in InsurTech technology, blockchain and the Internet of Things initially garnered significant attention, but artificial intelligence and big data later emerged as more critical technologies. Second, in terms of market players, government agencies and research institutes initially created forums for discussion, such as seminars to draw social attention to InsurTech. Over time, innovative startups entered the market, general agencies specializing in insurance brokerage gained prominence in the online marketplace, and the entry of Big Tech platforms further diversified the market. Finally, in terms of InsurTech-related insurance solutions, early attention was focused on developing new products. However, the trend gradually shifted toward improving the accessibility and convenience of existing insurance services. Additionally, asset management and payment settlement services—linked to financial services beyond traditional insurance—emerged, along with new concepts such as healthcare, which reshaped the approach to insurance services. This study contributes to understanding how InsurTech has evolved by identifying key trends in emerging technologies, leading market players, and innovations in the insurance value chain. The Korean case provides insights that may help explore similar patterns in other countries. Full article

This research conducts a meticulous examination of the determinants influencing dividend payout dynamics among firms listed on the Korean Stock Exchange (KSE) from 1995 to 2021, a period characterized by profound economic fluctuations. By leveraging a dynamic panel data model and the Generalized Method of Moments (GMM) for estimation, the study addresses endogeneity concerns while exploring the effects of firm-specific and macroeconomic variables on dividend yields. The investigation delineates three distinct economic phases: normal conditions, financial crises, and the aggregate study period, facilitating a granular understanding of firms’ dividend payout adaptability under varying economic landscapes. Empirical findings underscore the persistence of dividend payments, revealing a variable adjustment speed toward target dividend yields contingent upon the economic context, with an expedited adjustment observed during crises. Crucially, firm profitability emerges as a consistent determinant of dividend yields across all examined periods, whereas the influence of macroeconomic variables is notably more pronounced during periods of economic normalcy. This research elucidates the complex interplay between internal corporate strategies and external economic pressures in shaping dividend policies, thereby enriching the discourse on dividend payout behavior in the context of Korea’s economic evolution from an emerging to a developed market. Full article

This study employs multifractal detrended fluctuation analysis to investigate the impact of fuel cell introduction in the Korean electricity market via the lens of multifractal scaling behavior. Using multifractal analysis, the research delineates discrepancies between peak and off-peak hours, accounting for the daily cyclicity of the electricity market, and proposes a crossover point detection method based on the Chow test. Furthermore, the impacts of fuel cell introduction are evidenced through various methods that encompass multifractal spectra and market efficiency. The findings initially indicate a higher degree of multifractality during off-peak hours relative to peak hours. In particular, the crossover points emerged solely during off-peak hours, unveiling short- and long-term dynamics predicated on a near-annual cycle. Additionally, the average Hurst exponent for the short-term was 0.542, while the average for the long-term was 0.098, representing a notable discrepancy. The introduction of fuel cells attenuated the heterogeneity in the scaling behavior, which is potentially attributable to the decreased volatility in both the supply and demand spectra. Remarkably, after the introduction of fuel cells, there was a discernible decrease in the influence of long-range correlation within multifractality, and the market exhibited an increased propensity toward random-walk behavior. This phenomenon was also detected in the market deficiency measure, from an average of 0.536, prior to the introduction, to an average of 0.267, following the introduction, signifying an improvement in market efficiency. This implies that the introduction of fuel cells into the market engendered increased supply stability and a consistent increase in demand, mitigating volatility on both the supply and demand sides, thus increasing market efficiency. Full article

This study explores the recent emergence of traditional Korean houses and hanoks as markers of cultural capital in Seoul, South Korea. While the ownership of detached houses itself can be a symbol of wealth in Seoul, traditional-style houses have become increasingly associated with luxurious living, particularly after the successful remodeling of hanoks in metropolitan settings such as Bukchon in Seoul. This study employs the critical luxury studies method to analyze the recent rise in hanok construction/remodeling among elites, and illustrates how traditional architectural forms have become status markers. Although the regeneration of traditional houses in cities has been examined from the perspective of gentrification or touristic cultural consumption, less academic attention has been placed on the phenomenon from the perspective of the homeowners’ taste. This study examines how traditional architecture has become a form of acceptable luxury through a media analysis of published articles and interviews with the residents of hanoks. This study argues that protecting endangered traditions and rich sensory experiences function as important moralizing factors in luxury housing, indicating that sociocultural valuation becomes as significant as market valuation. Full article

With apartment buildings representing a rapidly growing share of the residential market in South Korea, the effect of construction defects throughout the life cycle of construction projects, and particularly during the occupancy stage, has emerged as a significant social issue that may ultimately lead to an increase in defect disputes between new occupants and general contractors. An important step toward mitigating the likelihood of these defect disputes is to identify and address the factors that give rise to occupant dissatisfaction during the defect repair process. However, a reliable method by which to identify these factors has yet to be developed. In this respect, the main objective of the research presented in this paper is to develop a method for identifying occupant dissatisfaction factors in the construction defect repair stage. The developed method comprises the following procedures: (i) text pre-processing, which involves data cleaning, normalization, tokenization, morphological analysis, and removal of stopwords; (ii) term frequency–inverse document frequency for keyword extraction; and (iii) semantic network analysis to recognize relationships between words. The method was implemented using a dataset of 12,874 comments in Korean text format obtained from apartment building occupants. Based on the processing and analysis of this dataset, the occupant dissatisfaction factors were found to be: (i) inaccurate and inadequate repair work (represented by such keywords as “Repair”, “Visit”, and “Accuracy”); (ii) failure to keep promises (e.g., “Fulfillment”, “Promise”, and “Change”); and (iii) unprofessional conduct on the part of representatives in the repair service center (e.g., “Response”, “Attitude”, and “Receipt”). Full article

Around 1930, the Japanese publishing market was restructured, and as part of this process, the colonial market emerged within the Japanese Empire. In an attempt to expand into the colonial market, publishers such as Kaizō-sha, Chūōkōron-sha, and Senki-sha competed among each other, producing ‘legal’ and ‘illegal’ commodities related to socialism. This paper examines the circulation of illegal commodities such as the often-banned magazine Senki (Battle Flag), cross-reading them with internal documents from Senki-sha (Senki’s publisher) and NAPF (All-Japan Federation of Proletarian Arts), as well as with those from the Japanese Home Ministry and the Japanese Government-General in Korea. By doing so, the essay argues that the main actors of the socialist cultural movement around 1930 purposefully planned to capitalize on the ‘illegal’ nature of their commodities, while adopting a public stance of differentiation from commercial capital. Furthermore, by proposing that the publication of illegal commodities was in fact deeply imbricated with the movement of capital in the publishing market, this paper also reveals that Korean-language publications–notably, the magazine Uri tongmu (Our Comrades)–produced by socialists in the Japanese interior around 1930, ended up playing a role in undermining the reconstruction of socialism in Korea. For this reason, it is crucial to reconsider the prevailing narrative about the history of the Japanese socialist movement of the late 1920s and early 1930s, which often essentializes the connection between Japanese and Korean socialists as pure ideological solidarity, paying little attention to the complex movement of capital, legal and illegal, at work in the Japanese Empire around 1930. Full article

This study aims to determine the importance of factors affecting supplier selection in the pesticide distribution sector as a global emerging market and present a decision-making model for the corporate marketing strategy. Specifically, a comparative study between suppliers and retail distribution experts was conducted to compare differences in the perception of supplier selection factors according to organizational characteristics. Based on previous studies, a decision-making model based on the AHP methodology was constructed with a total of 20 factors in five areas: product quality, price, flexibility, promotion support, and brand. Then, 42 Korean experts were surveyed to measure the importance of these factors. The results showed that product quality is the most critical factor in supplier selection, followed by price, brand, promotional support, and flexibility, in that order. Manufacturers consider product quality as the most important factor, while retailers consider price as the most important factor. Among the 20 factors, ‘quality excellence’, ‘expected return’, and ‘technological competitiveness’ were found to be the most important factors. In addition, while manufacturers considered factors such as ‘corporate reputation’ and ‘corporate trust’ as more important, retailers considered factors related to product characteristics, such as ‘product awareness’ and ‘brand reputation’ as more important. Full article

The fourth industrial revolution (4IR) is bringing about enormous changes in various aspects of the construction industry. This influence is emerging as a smart technology and is regarded as a productivity innovation in the construction industry. In addition, several countries are attempting policies to diffuse technological innovation into various industries, such as those related to legal systems, investments, and additional markets. These policies commonly have the intention to encourage various industrial factors that are related to smart-construction competitiveness. Therefore, this study analyzed the competitiveness from an industrial perspective to revitalize smart technologies in the construction industry. For this purpose, the acceptance of innovation within the Korean construction industry (KCI) was reviewed through diffusion-innovation theory, and then competitiveness factors were driven by the literature, based on Porter’s diamond model. Factors are measured by the contractors who utilize smart technologies, analyzing the competitiveness priority and differences between them. The main finding is that the “Demand Condition” is the most important industrial competitiveness for embedding smart technology in the early stage of construction industry. Moreover, to reduce the risks related to developing technologies, it suggested that distinct policies are required in accordance with the contractors. These findings are going to be helpful for policy makers as references for developing policies to embed smart technology in the construction industry. Full article

This study investigates whether related party transactions (RPTs) are associated with corporate social responsibility (CSR). Analyzing Korean public companies, we find that firms with more RPTs show poor CSR performance, especially in terms of soundness and fairness. The results are only maintained in firms with low ownership of controlling shareholders, supporting the conflict-of-interest view related to RPTs. Furthermore, we find that RPTs of firms held low by controlling shareholders do not contribute to firm value. Our results indicate that the expropriation of profits or resources through RPTs negatively affects the CSR decision of affiliations, which acts as a deterrence to long-term growth. In emerging markets where RPTs within a business group are prevalent, a government needs to restrict RPTs which are beneficial only for controlling shareholders and to encourage CSR activities of affiliations with low controlling ownership. Full article

India has a longstanding reputation in the film industry, whereas South Korean films have only recently achieved notable success globally. Despite their significant positions in the global film market, there are very few studies that compare and analyze the competitive advantage of the two countries in the film industry. This paper adopts the ABCD model as a complementary framework to the two mainstream theories of strategic management (i.e., industry-based view and resource-based view) to analyze and compare the competitiveness of the industrial success of emerging countries. For the empirical test, this paper uses natural language processing methods to operationalize the theoretical model. After collecting text data from news articles in English related to the Korean and Indian film industries, this study analyzes how many keywords with regards to the 8 sub-factors of the ABCD model are mentioned in the articles using the document similarity measurement. The results reveal the different but complementary areas of strengths. India has higher competitiveness in the factor of Agility while Korea has higher competitiveness in Convergence. This study also highlights the areas for further development and potential partnership between the two countries by leveraging each other’s strengths. Full article

The current study was conducted to examine the consumption process of tourists through the SIPS model as they experienced tourism-related information and products on social networking sites. Data was collected online from Koreans who have experience in using social networking sites, and a total of 479 responses were used for the data analysis. The statistical package for social sciences 23 and analysis of moment structures 23 were used to evaluate stability, consistency for the measurement items, and to perform structural equation modeling to test hypotheses. There were three main results that emerged from the study. First, three dimensions of sympathy (emotional sympathy, content sympathy, and sympathy for situations and publishers) were extracted. Second, among the dimensions of sympathy, only “content sympathy” showed a significant impact on identification while all dimensions of sympathy significantly affected tourism participation intention. It indicated that tourists are willing to participate in tourism activities immediately if they sympathize with the information obtained from social media without going through the identification process, which is the opposite result of what the SIPS model argued. Lastly, travel content production experience has been shown to have a moderating effect in the relationship between identification and tourism participation intention. The current study will contribute to understanding tourists’ consumption process of tourism-related information on social networking sites and to establish efficient marketing strategies. Full article