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This study aims to investigate the effects of the relationship between training expenses and length of service on firm values. Various studies have been conducted to identify the effect of training expenses, which have the characteristics of some intangible assets, on business performance or firm value, but consistent results have not been reported. Due to the characteristics of Korean companies with strong seniority, it is reported that firm value or business performance of companies with long service years is low. This is because the rate at which wages increase as the length of service accumulates is faster than the rate of increase in proficiency. In this study, firm value with large training expenditures and long service years is verified. For verification, regression analyses were conducted on non-financial KOSPI companies from 2005 to 2021. As a result of the analyses, it was found that companies with large expenditures on training and long service years have high value. Employees of companies with large training expenditures and long service years are believed to maintain an increase in their proficiency even if years of service accumulate compared to employees of other companies. In the previous studies, individual analyzes have been conducted such as training expenses and firm value, length of service and firm value, but this study is meaningful in that it is analyzed with firm value by linking training expenses and length of service.

Mongolia’s coal industry is currently suffering from factors such as lack of road and railway infrastructure, lack of consistent logistics policies and regulations, and political instability. This study conducted in-depth interviews with experts to derive implications and directions for strengthening Mongolia’s coal export competitiveness. The results of the in-depth interviews are as follows. First, systematic policies should be prepared to improve poor logistics infrastructure. Second, it is necessary to reduce dependence on the Chinese market and explore new markets. Third, it is necessary to secure global market competitiveness by producing high value-added coal products. Fourth, environmental pollution in the Mongolian coal industry should be minimized through the introduction of clean coal technology.

Since the late 2000s, there has been an increase in social network analysis (SNA) research for trade network analysis, and a growing number of studies have compared and analyzed domestic and international research. This study collects and analyzes domestic and foreign research papers that analyze the trade network structure using SNA. The analysis identifies common themes in trade networks and structures, with overseas research notably focusing on aspects like trade agreements and spatial perspectives. The study also highlights various research topics, suggesting potential directions for future domestic research. Despite some limitations, such as the non-application of dynamic topic modeling, the insights derived could guide the selection of themes and directions in future research.

From international trade law perspective, we analyze the Digital Economy Partnership Agreement (DEPA) whose Members concluded the accession negotiations with Korea in June 2023, with a view to exploring policies for its effective implementation. First, we discuss key provisions of DEPA. Next, we analyze several important issues which are expected to play critical roles in the implementation of DEPA. Thus, taking into account other digital trade agreements and relevant WTO agreements, we suggest a number of policies to clarify or improve those critical issues with an aim of implementing DEPA effectively. The issues include the agreement’s scope, the definitions of key terms such as digital economy and digital trade, the criteria for determining whether two digital products are like or not, and the contents of the legitimate public policy objective. Finally, we conclude with some future issues, including rules for source code, technical regulation and electronic payment, and the selection of trading partners for future digital trade agreement negotiations.

From international trade law perspective, we analyze the Digital Economy Partnership Agreement (DEPA) whose Members concluded the accession negotiations with Korea in June 2023, with a view to exploring policies for its effective implementation. First, we discuss key provisions of DEPA. Next, we analyze several important issues which are expected to play critical roles in the implementation of DEPA. Thus, taking into account other digital trade agreements and relevant WTO agreements, we suggest a number of policies to clarify or improve those critical issues with an aim of implementing DEPA effectively. The issues include the agreement’s scope, the definitions of key terms such as digital economy and digital trade, the criteria for determining whether two digital products are like or not, and the contents of the legitimate public policy objective. Finally, we conclude with some future issues, including rules for source code, technical regulation and electronic payment, and the selection of trading partners for future digital trade agreement negotiations.

This study analyses the impact of changes in the US base rate on the foreign exchange markets of Korea, Japan, and China using the volatility spillover index of Diebold and Yilmaz (2012). We present the empirical results as directional spillovers, net spillovers, and total spillovers using the volatility spillover index. We also present results for three sub-periods based on the change in the US interest rate. In addition, we present the results of the sample moving average analysis for robustness and the network analysis to provide an intuitive view of the net spillovers and pairwise net spillovers. Our main findings are as follows. First, we find that an increase in the U.S. base rate increases the spillover effect in the foreign exchange market, with the total spillover index being the highest at 46.2 per cent in sub-period 3. Sub-period 3 is the period when the US base rate rises again. Second, the US Dollar Index Futures(USDF) has the strongest spillovers in all periods and all types of spillovers, and the more recent the period, the stronger the spillover effect of the USDF. On the other hand, the China yuan(CNY) is passive or low in all periods and all kinds of spillovers. Third, the roles of the Korean won(WON) and the Japanese yen(JPY) change over time. The Korean won has a negative net spillover effect in sub-period 1 (pre-COVID-19), but a positive net spillover effect in sub-period 2. The opposite is true for the Japanese yen. Fourth, we confirm the importance of USDF in the moving average results and network analysis. We find that USDF and JPY play a leading role in sub-period 1, and USDF and WON in sub-periods 2 and 3.

Global corporations, large corporations, small and medium-sized enterprises, and even public institutions have become interested in entrepreneurial marketing (EM). The purpose of this study is to develop a generalizable sub-factor of EM that can be applied to non-profit organizations in Korea. The sub-factor development process of EM in non-profit organizations is as follows. First, the constructs of EM were selected as eight factors by reviewing the latest previous studies. In a survey targeting non-profit organizations, 191 questionnaires were used for the final analysis. To extract the factors, exploratory factor analysis, confirmatory factor analysis, and discriminant validity analysis were conducted. As a result of the analysis, the seven sub-dimensions of EM were identified: proactive opportunity, risk-taking, customer focus, innovativeness, networking, resource leverage, and value co-creation. The seven factors of EM will help the performance of non-profit organizations. The implications and limitations of the study are presented in the conclusion.

This paper uses a multivariate VAR-GARCH model to analyze the relationship between financial markets of Korea and China. In the foreign exchange market, the won/dollar has a statistically significant effect on the yuan/dollar, but the yuan/dollar has a marginal effect on the won/dollar at the 10% significance level. The yuan/dollar, however, has no effect on the won/dollar if we divide the sample period before and after COVID-19. In particular, during the post COVID-19 which is a period of contractionary monetary policy, the exchange rates of the two countries does not affect each other at all. This is probably because Korea and China implement opposite monetary policies during post COVID-19 period. The Korean and Chinese stock markets influence each other before COVID-19, but after COVID-19, the link between the two markets disappears. The stock market crash caused by COVID-19 is cited as the cause. The ARCH coefficient, which represents the impact of external shocks, increases significantly in both Korea and China due to the COVID-19. It turns out that the correlation between the foreign exchange markets of Korea and China is not very high, and the stock markets of the two countries do not form a close relationship either.

Improving manufacturing competitiveness in the field of photovoltaic sector has been a political priority for many countries, and these priorities have often been used in conjunction with green industrial policies. In 2018, the United States used safeguard in the solar PV sector as a new type of green industry policy, followed by India quickly. This paper aims to examine the interaction between the World Trade Organization (WTO) and green industry policy by exploring legal considerations and policy implications in adopting safeguards in the field of solar PV sector. The paper discusses why the WTO might find that the actions of the United States and India violate the GATT and the Safeguards Agreement, but there are several flaws related to the WTO Safeguards rules and institutional frameworks for reducing trade barriers. The paper proposes negotiating a plurilateral agreement to eliminate to apply of safeguards in the solar PV sector and increase positive effects between trade and the climate change regime.

This study investigate the relationship among economic growth, environmental pollution, and income inequality within South Korea, China, and Japan. In order to analyze the nexus of economic growth, environmental pollution, and income inequality, this study utilized the Kuznets and environmental Kuznets hypotheses. Also, in this paper, the relationship between income inequality and environmental pollution was conducted through panel analysis. The main findings are as follows. First, the increase in environmental pollutants not only affects the environments, but also affects the income inequality. Second, as the income share of the top 10% increase, CO2 emissions increase more than the income share of the top 1%, and conversely, the increase in CO2 emissions tend to deepen the income inequality. As a result of the establishment of a relationship between environmental pollution and income inequality, the direction of policies to reduce environmental pollution should not only be directed at environmental regulations and related R&D investments, but also seek new policy directions through resolving income inequality. At the same time, we must recognize that solving the problem of income inequality can help solve environmental problems.

The objective of this research is to identify the key factors affecting Korean consumers’ purchase intentions for products of international joint ventures (IJVs) established by both Korean and Japanese firms. Furthermore, this study investigates the moderating role of customers’ patriotism on the relationship between three factors (product quality, product price, and corporate image) and customers’ purchase intentions. Through empirical examinations utilizing structural equation modeling, the study reveals that both product price and the image of IJVs play pivotal roles in stimulating customer purchases. However, interestingly, product quality is not identified as a significant driver of purchases. In particular, the study did not find any moderating effects related to patriotism, despite the general perception of Koreans holding deep-seated antagonism toward Japan. Based on these findings, this research provides valuable insights for Japanese multinational corporations.

The market size of luxury brands has been growing in spite of the recession and pandemic. China is one of the countries where people spend a lot of money on luxury goods. This study aims to explore various effects of perceived values on luxury purchase intention for Chinese consumers. Social (conspicuous and status), personal (hedonism and materialism), and functional (price-quality perception and uniqueness) values are set up as perceived values. The results revealed that conspicuousness, hedonism, price-quality, and uniqueness values affect purchase intention of luxury goods. This study provides academic and managerial implications that luxury brands need to identify the core aspects that stimulate the Chinese consumers to buy luxury goods. Moreover, they might utilize the values when they set marketing strategies for Chinese consumers.

Data is evaluated as a core resource for a company. But at the individual company level, there are criticisms that it is limited to rudimentary analysis based on limited data. Although there are many studies to solve this inefficiency, an implementation plan still need to be addressed. This study presents a theoretical and practical framework to fill this gap. First, from a theoretical point of view, the necessity of an integrated data transaction exchange is presented using the Knowledge Based view theory and the mission oriented policy theory. And from a practical point of view, we suggest not only exchange design and operation plans, but also a step-by-step strategy to increase data transactions. In addition, this paper provides the rationale for active use of user community functions and collaboration with scholars in field of business and economics in order to utilize user forums to solve factors that limit data transactions and apply the answers to real-world corporate management.

Despite general acceptance of the critical effects of hate toward a specific nation on customer response in the global market, the mechanisms underlying such effects have not been sufficiently confirmed. To fill this gap, this research considers three sub-components of hate, namely, historical hate, economic hate, and social hate, and tests the structural relationship among hate, country of origin (COO), purchase avoidance intention. Using survey data from 256 Koraen consumers recognizing Japan, we find that three sub-components of hate play different roles in the ‘hate→country of origin→purchase avoidance intention’. In particular, the COO does not mediate the historical hate-purchase avoidance intention. And the COO partially mediates the historical hate-purchase avoidance intention. In contrast, the COO fully mediates the social hate-purchase avoidance intention. Finally, this research also discusses the managerial and research implications.

With the onset of the 4th Industrial Revolution, the importance of research and development (R&D) activities is increasing as corporate growth shifts to technology-centered innovation. Due to the risk of failure and information asymmetry that comes with R&D, bond holders sometimes demand a higher risk premium for companies that invest heavily in R&D. However, companies with strong environmental, social and governance (ESG) practices can alleviate these concerns and reduce the information gap. Our research examined the relationship between R&D expenditures and the cost of debt in the KOSPI and KOSDAQ markets from 2015 to 2022. We found that higher R&D expenditures lead to higher debt costs. However, active ESG practices, especially in the environmental(E) and social(S) sectors reduce this effect. These results demonstrate that a company’s ESG activities are an important factor that can be linked to its financing and investment decisions.

In this study, we presented a model to determine the appropriate project implementation entity for the port hinterland complex development project, where controversy over fairness occurred during the selection process of the project implementation entity. In addition, the model proposed in this study was applied to the 17 projects scheduled for development specified in the 3rd port hinterland complex development comprehensive plan to select an appropriate project implementation entity. In the selection process, this study considers the characteristics of the project, port conditions, and the status of related policy implementation when the public and private sectors simultaneously participate in the port hinterland complex development project. In addition, the focus was on presenting a plan to reasonably determine the project implementation entity.

In this study, panel data from 2000 to 2022 was used for 127 countries with export records of Korean cultural content to analyze the impact of export of Korean cultural content on exports of Korean consumer goods. First, it can be seen that spatial regression model and spatial error model analysis are more suitable than traditional panel OLS analysis to determine the spatial dependence of the impact of Korean Wave cultural content exports on consumer goods exports. In particular, a 1% increase in the export of Korean Wave cultural content leads to a 0.16 to 0.18% increase in Korean consumer goods exports, showing that the effect of the Korean Wave has a positive impact to some extent on consumer goods exports. Second, a 1% increase in music content exports shows the highest value with a 0.10∼0.11% increase in consumer goods exports, which shows that the economic effect of K-POP is great. Lastly, the item that has the greatest effect on exporting Korean cultural content is electronic equipment, which has a very high coefficient value compared to other items. This is expected to be the most important strategy for improving usability through marketing of electrical and electronic products using Korean Wave cultural content.

The purpose of this study is to examine the impacts of advancement of urbanization and the aging population in China. It is of great significance to continue to promote the installation of elevators in existing residences, which is improving the quality of life of the residents, enhancing the happiness and satisfaction of the people. However, in the practice of installing elevators, different residents have different demands. Some residents have weak intentions for installing elevators, and some residents even strongly oppose it. At the same time, due to problems such as inconsistent relevant policies and imperfect technical means, the installation of elevators in existing residential buildings is also subject to certain resistance, making it difficult to advance in an orderly manner. The installation of elevators itself is a livelihood project that is closely related to the residents of the whole building, and it is also an important part of the renovation and upgrading of old communities. Once the project is difficult to advance in an orderly manner, it will inevitably affect the overall effect of the renovation of some old communities. Based on actual cases, this paper analyzes the problems and causes of existing residential elevator i nstallation in Changchun City, a nd p uts forward c ountermeasures a nd s uggestions. F rom the perspectives of policy mechanism, cost raising, and residents’ willingness, the countermeasures to promote the effective promotion of elevator installation in existing residential buildings in Changchun City are proposed, mainly to unify residents’ willingness, improve the compensation mechanism, simplify the construction application procedure, optimize the installation technology, and establish multiple financing. system, perfect follow-up guarantee system.

This paper examines the issues related to the relevant regulations (Art.40 and Art.44) in terms of the buyer’s obligation to notify non-conformity of goods under Art.39 and the effects on the results in the CISG. The results of this study are as follows; Firstly, the trend of recent precedents regarding the ambiguity of “specificity” and “reasonable time” as requirements for the buyer’s obligation to notify non-conformity shows that the standards are being relaxed. Second, the regulations that relax or exempt the buyer’s notification obligation may actually serve a different purpose than their intended purpose. For example, in a situation where the original contract price may be paid under Art.40 for the delivery of goods of higher value, or in the seller’s waiver of rights, it is difficult to determine whether the seller’s actions indicate a waiver of such rights, In conclusion, this paper may provide the understanding of the buyer’s non-conformity notification obligation in the CISG by persenting theses issues to international trade transaction parties.

Sustainable management, which began as a solution to environmental problems, has now become an essential business strategy rather than an option. However, the current competitive environment is not a business-to-business competition, but a supply-chain-to-supply-chain competition environment. Therefore sustainable management must be changed to sustainable supply chain management. This study is about sustainable supply chain management. Several studies have proposed blockchain as a technology to usefully carry out sustainable supply chain management. In this study, blockchain technology was seen as mediating the relationship between sustainable supply chain management and environmental performance. To prove this hypothesized relationship, a survey was conducted targeting Korean domestic manufacturing companies. The results of analysis based on the collected data are as follows. Among sustainable supply chain management practices, sustainable procurement, sustainable distribution, and sustainable design were found to have a positive influence on blockchain technology adoption. The adoption of blockchain technology has been shown to have a positive impact on environmental performance.