Dover, Michae, JiYoung, Jeong, SunMi Kim
Abstract
This paper investigates the potential for the South Korean province of Jeollabuk-do to attract medical tourists from Australia in an international tourism environment impacted by the Covid-19 pandemic crisis. Following identification of the Australian demographic cohort most likely to be receptive to undertaking medical procedures in South Korea, the paper analyses Jeollabuk-do’s competitive advantages in this regard. A key competitive advantage the province has is its capacity to incorporate Korean and local culture into the medical tourism experience. While medical tourism can consist of a short-stay visitation concentrated solely around the medical procedure/treatment itself, it can also consist of a longer-stay visitation which incorporates a settlement period, a medical treatment period and a recovery period. An extended stay as such allows the medical tourist to fully engage with the distinct attributes of South Korea’s culture. This paper seeks to understand how South Korea’s cultural attributes are best able to engage with medical tourists from Australia within the context of Jeollabuk-do. Furthermore, the paper emphasizes the importance of Medical English language education within the Korean medical tourism sector. In particular, the paper emphasizes the role of MSO(Management Services Organization) and introduces the term ‘Medilier’ which relates to the education program and provision of human capital resources which work to professionally facilitate the interaction between incoming international medical tourists and South Korean health care service providers. The new condition of SANEL·HERMES is also introduced as a new instrument of analysis for development strategy of tourism industry.
Keyword: South Korea, Australia, International Trade, Jeollabuk-do, Medical Tourism, Culturalization, Cultural Attribute, MSO(Management Services Organization), Medilier, SANEL·HERMES
Abstract
This paper empirically examines effects of innovation barriers on technological innovations, based on 2016 Korea’s Innovation Survey data implemented by STEPI. Empirical results show that the null hypothesis that the innovation barriers is exogeneous are rejected for all except one. This suggests that ignoring the potential endogeneity of innovation barriers can lead to biased results. For all firms, all innovation barriers are found to have statistically significant positive effects on innovations. For innovation firms, however, they are found to have positive effects on product innovation but negative effects on process innovations. These results imply that for innovation firms, barriers to product innovation are regarded as those to be overcome, while those to process innovation turn out to be deterred barriers which are a real impediment to process innovation activities.
Keyword: Innovation Barriers, New Product Innovation, Process innovation, Revealed Barriers.
HyunSing Oh, JunHo Chea,HyunJin Kim
Abstract
In the filed of emotional labor study, the majority of study has been carried out based on a variable-centered approach. However, recently there is a growing body of research emotional labor profiles. this is because individuals can experience simultaneously distinct types of emotional labor. This study utilized a latent profile analysis to identify types of emotional labor profiles on the basis of the four components on the sample of employees from the provincial government public customer service workers in South Korea(n=744). Five different types of emotional labor profiles were identified by a latent profile analysis. These five profiles were then contrasted with employees’ level of emotional exhaustion. In addition, this study also investigated the patterns of demographic variables and the five different emotional labor profiles by using a multinomial regression analysis. Results showed that emotional labor profiles pertaining to the low level of emotional labor, employees’ level of emotional exhaustion is low. there are only some variables are related to the five different emotional labor profiles. On the basis of the results, this study cussed implications for emotional labor literature, practices and future research.
Keyword: Emotional Labor, Person-Centered Approach, Latent profile analysis, Job Exhaustion
Abstract
This paper examines the empirical association between environmental, social and governance (ESG) and the credit ratings on Kosdaq firms. Based on the argument that ESG movement would benefit shareholders by reducing firms’ downside risk, measured using the lower partial moment and value at risk, this study hypothesized that ESG movement would affect the credit ratings. This study examined the effect of ESG movement on the credit ratings using a large sample of Korean Kosdaq firms over 5-year period (2012-2016). An ESG(Environment, Social, Governance) index published by Korean Corporate Governance Service (KCGS) was used as the measure of ESG movement. The results of this study find that the firms with ESG movement exhibit the positive on the credit ratings. These results are robust across different measures of variables and testing methodologies.
Keyword: Environmental, Social and Governance (ESG), credit ratings, ESG(Environment, Social, Governance) index
Abstract
The Constant Market Shares (CMS) methodology has been a useful tool for decades, and is often used to identify the factors underlying export performance across countries. Most recently, the CMS has been widely used in the international trade and its inter-disciplinary literature. The model divides the total export growth into eight different parts: growth effect, market effect, commodity effect, structural interaction effect, general competitive effect, specific competitive effect, pure second-order effect and dynamic structural residual. By analyzing the changes of these effects, wee can determine the changes in competitiveness of the export commodities in the target country. This paper shows that for Korea’s internal combustion engine cars the growth effect, the structure interaction effect, the specific competitiveness and the dynamic structural effect are positive, but the market effect, the commodity effect, the comprehensive competitiveness effect and pure second-order effect are negative using the constant market share analysis. The decomposition results also show that for Korea’s green cars the scale effect, the structure interaction effect, the pure second-order effect and the market effect are positive, while the commodity effect and the specific competitiveness effect are negative. The observation about shift and share effects is that shift effect is an important source that explains more than 300 percent of the changes in Korea’s car exports to the world market but its competitive position deteriorates against the world for the negative shift effect. The shift-share analysis indicates that for Korea, the US, and France the export growth of green car is more affected by export structure than competitiveness, while for Belgium, Austria and the UK competitiveness is a driving force. The export of green cars from China, Japan, Sweden, Italy and Germany is found to be greatly affected by the global market.
Keyword: green car, constant market share, internal combustion engine car, shift-share model
KwangMin Kim, HunSang Lee
Abstract
This paper empirically analyzed the correlation between corporate value, debt cost, and credit rating of ESG-rated companies by the Korea Corporate Governance Service for companies listed on the Korea Exchange from 2013 to 2020. As a result of the study, first, ESG was found to have a differential effect on business performance and corporate value. ROE and ROA in the integrated sector were found to have insignificant values, and Tobin Q was found to have a negative (-) effect in the environmental and social sectors. Second, it was confirmed that a good ESG rating as a determinant of the interest rate borrowed from financial institutions may cause insignificant or short-term cost increases. It can be concluded that financial institutions with the characteristics of private debt do not use ESG, which is a non-financial value, as meaningful information when issuing corporate loans, as opposed to public debt. Third, as non-financial information, ESG confirmed a significant positive (+) relation to corporate bond credit rating evaluation. It can be said that credit rating agencies reflect ESG ratings, which are non-financial information, as well as corporate financial data in accounting in calculating credit ratings.
Keyword: ESG Rates, Financial Value, Stock Value, Capital Costs, Credit Ratings