• KDI Journal of Economic Policy
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• v.44 no.4
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• pp.79-108
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• 2022

This study examines the impact of sentiment shock, which is defined as a stochastic innovation to the Housing Market Confidence Index (HMCI) that is orthogonal to past housing price changes, on aggregate housing price changes and housing price volatility. This paper documents empirical evidence that sentiment shock has a statistically significant relationship with Korea's aggregate housing price changes. Specifically, the key findings show that an increase in sentiment shock predicts a rise in the aggregate housing price and a drop in its volatility at the national level. For the Seoul Metropolitan Region (SMR), this study also suggests that sentiment shock is positively associated with one-month-ahead aggregate housing price changes, whereas an increase in sentiment volatility tends to increase housing price volatility as well. In addition, the out-of-sample forecasting exercises conducted here reveal that the prediction model endowed with sentiment shock and sentiment volatility outperforms other competing prediction models.

• Journal of Digital Convergence
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• v.17 no.12
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• pp.77-82
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• 2019

In this paper, we propose a new industry - university collaboration plan through the analysis of the present state of industry-academia cooperation and government support projects, and analysis of major overseas cases. The following is the plan for activating the new crop cooperation. First, it is necessary to strengthen the innovation of education system and establishment of new education course based on future demand through future-oriented industry-university cooperation. Second, active industry-academia cooperation should stimulate entrepreneurship education and entrepreneurship based on university resources. Third, it should act as an anchor of regional innovation by actively cooperating with local innovation entities. It is necessary to develop an industry-university cooperation model that can generate profits and contribute to university finance.

• Journal of Korea Trade
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• v.24 no.8
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• pp.19-38
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• 2020

Purpose - The Korean government has been promoting the New Southern Policy (NSP) prior to the onset of the COVID-19 pandemic, which damage global value chain (GVC). The purpose of this paper is to emphasize that the NSP should be developed to provide tangible support in corporate GVC adjustment, away from diplomatic activities in order to offset GVC losses due to COVID-19 and expand export capabilities. Design/methodology - Two research methodologies are combined for this paper: A computational general equilibrium (CGE) model is used to estimate the impacts of the COVID-19 pandemic and NSP on Korea's exports, and the decomposition methodology (Wang, Wei and Zhu, 2013) to evaluate the stability of GVC. The conventional CGE model was modified to obtain an estimate for decomposition. The research methodology adopted in this study was attempted for the first time, and it can be widely used in future GVC research. Findings - Results found the effects of COVID-19 reduced Korea's total exports by 27% and GVC by more than 30%. In particular, VA in Korea's exports to the NSP region was found to have a huge impact in heavy industries and textiles, and its exports to Vietnam seemed to suffer the largest loss in GVC among ASEAN countries. If the NSP is implemented properly, it appears that it could offset much of the negative impacts of COVID-19, implying the importance of the effectiveness of the NSP. Originality/value - Many papers have assessed the NSP descriptively, and the GVC has been a topic for many publications. However, the impact of COVID-19 on Korea's GVC with the NSP countries has not been quantitatively studied. This paper emphasizes that the NSP should be pursued based on the results of quantitative analysis. In addition, the research methodology of this paper can be used for other GVC research with relevant modifications.

• Journal of the Korean Geographical Society
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• v.51 no.2
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• pp.235-253
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• 2016

China has been developing a new auto industry growth plan since 2004. In line with this initiative, China actively adopted its policy favoring foreign companies' investment which had a competitive edge over their technologies and manufacturing methodologies. To meet this demand in policy and market change, many foreign auto companies and their parts' manufacturers including Korean auto companies joined this stream. Policy change favoring higher technologies applicable in China requested auto companies' swift adaptation to meet the policy requirements by higher technologies with innovation and introduction of those foreign technologies to China. The spatial (excellence) strategy was followed by the increase in its efficiency and competiveness of each region, which were materialized by or in the form of; Firstly, strategic partnership with China auto companies and encouragement of Korea auto parts manufacturing companies to set up its own factories in China. Secondly, modularization and platform sharing strategy by applying enhanced technologies. Thirdly, strategic utilization of China local government's incentive policies. As production management methodology, JIS was adopted all across the board to meet the on-demand market requirements in the manufacturing processes. Auto part manufacturers had been integrated regionally based on forward linkages and modules. As a result, regional-specific auto industry complexes have been made in the places such as Beijing-Hyundai in the north, Dongfeng-Yueda-Kia in the south, common auto parts at central area like Qingdao, and other parts and raw materials in the vicinity of Shanghai.

• Journal of Science and Technology Studies
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• v.18 no.2
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• pp.269-306
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• 2018

Through this study, it is aimed to derive the policy direction considering the characteristics of the present Smart Factory, the industrial condition of Pohang area, and the promotion field. Secondly, the questionnaire data of the regional enterprises will prepare for the improvement of the industrial structure and the implications for efficiency, and preparation for regional preparation and industrial changes in preparation for the next generation of production revolution. The construction of Smart Factory in Pohang can be divided into two major directions. First, it is analyzed that smart factory pilot projects are highly needed, focusing on competitive medical precision manufacturing field among the SMEs in the region, primary metal and nonmetal manufacturing industries, and other machinery fields. In addition, local SMEs are willing to introduce smart factories for reasons of quality improvement and cost reduction, and it is confirmed that they will actively promote employee training and expertise if they can upgrade continuously.

• Journal of the Economic Geographical Society of Korea
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• v.16 no.3
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• pp.472-491
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• 2013

This research addressed limits to promoting SMEs networking programs, especially with universities, in the context of national and regional policies for urban economic development, centering on the case of Daegu City. In large cities such as Daegu City, the strategy focusing on promoting SMEs networking activities, utilizing the advantages of urban economy, is likely to be necessary for urban economic development in knowledge-based economy. However, national and regional policy direction for urban economic development relied on exogenous strategies attracting firms, and regional S&T policies focused on universities and research institutes rather than SMEs, being strongly initiated by central government. Thus, to promote policies supporting local SMEs networking in Daegu City was seen as being difficult. Under these circumstances, region-specific policies related to support networking activities of SMEs might be dealt with neglectedly.

• Journal of Venture Innovation
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• v.5 no.1
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• pp.107-127
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• 2022

Global challenges such as the corona pandemic, climate change and the war-on-tech ensure that the demand who the technologies of the future develops and monitors prominently for will be on the agenda. Development of, and applications in, agrifood, biotech, high-tech, medtech, quantum, AI and photonics are the basis of the future earning capacity of the Netherlands and contribute to solving societal challenges, close to home and worldwide. To be like the Netherlands and Europe a strategic position in the to obtain knowledge and innovation chain, and with it our autonomy in relation to from China and the United States insurance, clear choices are needed. Brainport Eindhoven: Building on Philips' knowledge base, there is create an innovative ecosystem where more than 7,000 companies in the High-tech Systems & Materials (HTSM) collaborate on new technologies, future earning potential and international value chains. Nearly 20,000 private R&D employees work in 5 regional high-end campuses and for companies such as ASML, NXP, DAF, Prodrive Technologies, Lightyear and many others. Brainport Eindhoven has a internationally leading position in the field of system engineering, semicon, micro and nanoelectronics, AI, integrated photonics and additive manufacturing. What is being developed in Brainport leads to the growth of the manufacturing industry far beyond the region thanks to chain cooperation between large companies and SMEs. South-Holland: The South Holland ecosystem includes companies as KPN, Shell, DSM and Janssen Pharmaceutical, large and innovative SMEs and leading educational and knowledge institutions that have more than Invest €3.3 billion in R&D. Bearing Cores are formed by the top campuses of Leiden and Delft, good for more than 40,000 innovative jobs, the port-industrial complex (logistics & energy), the manufacturing industry cluster on maritime and aerospace and the horticultural cluster in the Westland. South Holland trains thematically key technologies such as biotech, quantum technology and AI. Twente: The green, technological top region of Twente has a long tradition of collaboration in triple helix bandage. Technological innovations from Twente offer worldwide solutions for the large social issues. Work is in progress to key technologies such as AI, photonics, robotics and nanotechnology. New technology is applied in sectors such as medtech, the manufacturing industry, agriculture and circular value chains, such as textiles and construction. Being for Twente start-ups and SMEs of great importance to the jobs of tomorrow. Connect these companies technology from Twente with knowledge regions and OEMs, at home and abroad. Wageningen in FoodValley: Wageningen Campus is a global agri-food magnet for startups and corporates by the national accelerator StartLife and student incubator StartHub. FoodvalleyNL also connects with an ambitious 2030 programme, the versatile ecosystem regional, national and international - including through the WEF European food innovation hub. The campus offers guests and the 3,000 private R&D put in an interesting programming science, innovation and social dialogue around the challenges in agro production, food processing, biobased/circular, climate and biodiversity. The Netherlands succeeded in industrializing in logistics countries, but it is striving for sustainable growth by creating an innovative ecosystem through a regional industry-academic research model. In particular, the Brainport Cluster, centered on the high-tech industry, pursues regional innovation and is opening a new horizon for existing industry-academic models. Brainport is a state-of-the-art forward base that leads the innovation ecosystem of Dutch manufacturing. The history of ports in the Netherlands is transforming from a logistics-oriented port symbolized by Rotterdam into a "port of digital knowledge" centered on Brainport. On the basis of this, it can be seen that the industry-academic cluster model linking the central government's vision to create an innovative ecosystem and the specialized industry in the region serves as the biggest stepping stone. The Netherlands' innovation policy is expected to be more faithful to its role as Europe's "digital gateway" through regional development centered on the innovation cluster ecosystem and investment in job creation and new industries.

• Journal of Distribution Science
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• v.15 no.1
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• pp.83-93
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• 2017

Purpose - After the transition, the development of defense industry in Eastern Europe has been regressed. Recently, they have internationally recognized that new products have been exported and contributed to the Innovation-Based Manufacturing of national economy such as unmanned reconnaissance aircraft, water purification technology, and mobile chemical laboratory, etc. The military forces in Eastern Europe are re-armed by the localization of self-produced munitions in their own defense industry, and then emphasize fostering their own defense industry. Thus, if they make a collaboration with other nations as a industrial cluster, it will gain a competitive edge on the defense industry. Research design, data, and methodology - The study was designed with the data of each national defense department. The research of the subject was reviewed before and after the transition. Thousands of workers have worked in defense industries before the transition, however, the defense industry and experts left after the transition. The Hungarian defense spending on GDP also dropped sharply from 1.72% in 2000 to 0.85% in 2013. But, due to the crisis in Ukraine and the crisis of Syrian refugees, the Viségrad Group (V4) member countries have also increased their interest in a defense and industries as well as the confidence in the EU and NATO. Results - On the whole, the joint of military training and purchase of defense materials were found in order to form the EU cooperative combat troops in CEE. There are the implementation of a joint manual plan for strengthening V4 security policy and the joint military exercises for V4 every year, and the others are electronic warfare and innovation of V4 national forces. Through such a performance analysis methodology, we found that the defense industry is developed through the national cluster cooperation among CEEs and spreading global distribution. Conclusions - Eastern Europe and Balkan countries have been looking forward to cooperating with the non-EU countries such as Korea and other defense industries. There are a lot of potential development into a new civilian cooperation defense industry for global-distribution. Thus, Korea should develop electronic commercial applications, not just as a weapon exporting region.

• Journal of the Korean Regional Science Association
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• v.31 no.2
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• pp.3-28
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• 2015

While industrial ecology theories and policy approaches have been considerably influential in regional economy, the dynamism and limitations of regional venture ecosystem are less clearly examined. In particular, the activities of strategic network brokerage require further research in relation to its internal and external interactions and collaborative mechanisms. Based on the analysis results of conditions of Daegu Gyeongbuk regional venture firms, this article examines the necessities of strategic network brokerage in regional venture ecosystem in the dimensions of network conditions as the intrinsic limitations, of innovation direction method outcome as the extrinsic trends, and of the related regional demands. In particular, this article tries to explore the roles and activity scopes of strategic network brokerage to contribute for making up for the weakness of diverse network infrastructures of regional venture ecosystem, for dealing with the mismatch for the extrinsic change trends of industrial technologies, and for fulfilling the strengthening trends of intrinsic capacities.

• World Technopolis Review
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• v.4 no.2
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• pp.87-103
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• 2015

This paper aims to explore how firms develop and grow in regional clusters based in a developing country. The argument is that start-ups / small and large firms are able to grow by developing linkages or networks for resources within clusters - and this tenet is based on studies of firms that are based from such clusters as Silicon Valley in the US, Cambridge in UK and other clusters from which have evolved over long periods of time. Most of the time we hear narratives from the developed world where there are brownfield cluster development efforts. In developing countries governments are making efforts to develop clusters from scratch - which in this paper we term as greenfield cluster versus a brownfield development, which is where the cluster is developed based on existing and new organisations in a region. In this paper, we believe the context of clusters can be important in determining the way firms develop linkages for their growth - and we look at two contexts in Malaysia ie. A greenfield cluster and a brownfield cluster. The paper presents findings from case studies of firms in a greenfield cluster (Cyberjaya) and a brown field cluster (Penang) in Malaysia. The cases reveal fairly different approaches to development of linkages or networks, which we hope will provides insights to cluster development officials and policy makers and implications to researchers for developing studies of clusters and innovation systems.