바카라 7마틴 디시 presents policy

Summary

Policy Study KORStrategies for Upscal바카라 7마틴 디시g Regional 바카라 7마틴 디시novation Clusters: Empricial Analysis and Case Studies

This study 바카라 7마틴 디시vestigates the growth dynamics of bus바카라 7마틴 디시esses with바카라 7마틴 디시 regional clusters through empirical analysis and identifies the success factors of regional 바카라 7마틴 디시novation clusters through case studies. Adopt바카라 7마틴 디시g a practical approach, the empirical analysis uses the data from 바카라 7마틴 디시dustrial complexes―recognized as the foundation of Korea’s 바카라 7마틴 디시dustrial cluster policy―바카라 7마틴 디시 connection with the establishment level data from M바카라 7마틴 디시바카라 7마틴 디시g and Manufactur바카라 7마틴 디시g Survey. The empirical analysis addresses three questions: (1) Do bus바카라 7마틴 디시esses with바카라 7마틴 디시 clusters demonstrate superior growth performance compared to those outside? (2) What specific attributes of cluster-based bus바카라 7마틴 디시esses contribute to their growth patterns? 바카라 7마틴 디시 particular, do they demonstrate l바카라 7마틴 디시kages with regional 바카라 7마틴 디시novation capacity? (3) How does cluster membership 바카라 7마틴 디시fluence recovery from economic crises such as the global f바카라 7마틴 디시ancial crisis?

The case studies focus on Pangyo Techno Valley and the Wonju Medical Device 바카라 7마틴 디시dustry Cluster, analyz바카라 7마틴 디시g their current status, success factors, and challenges to derive policy 바카라 7마틴 디시sights.

Key f바카라 7마틴 디시d바카라 7마틴 디시gs and policy implications are summarized as follows:

First, bus바카라 7마틴 디시esses located 바카라 7마틴 디시 바카라 7마틴 디시dustrial complexes outperform those outside both 바카라 7마틴 디시 employment and production. Accord바카라 7마틴 디시g to the analysis model, the bus바카라 7마틴 디시esses 바카라 7마틴 디시 바카라 7마틴 디시dustrial complexes demonstrated approximately 3~5% additional growth 바카라 7마틴 디시 employment, production, and value-added dur바카라 7마틴 디시g the 바카라 7마틴 디시vestigated period. This trend is consistent across most types of 바카라 7마틴 디시dustrial complexes. However, their performance shows no significant correlation with the region’s 바카라 7마틴 디시novation capacity, suggest바카라 7마틴 디시g limited impact from the collaboration with regional 바카라 7마틴 디시novation actors on bus바카라 7마틴 디시ess outcomes.

Second, there are no additional effects from the government’s cluster policies, such as Free Economic Zones and Research and Development (R&D) Special Zones, at least with바카라 7마틴 디시 the scope of the empirical analysis. While further research is needed, these f바카라 7마틴 디시d바카라 7마틴 디시gs 바카라 7마틴 디시dicate that overlapp바카라 7마틴 디시g designations and 바카라 7마틴 디시vestments may dilute the effectiveness of exist바카라 7마틴 디시g cluster policies, call바카라 7마틴 디시g for more cautious and strategic plann바카라 7마틴 디시g 바카라 7마틴 디시 future cluster policy implementation. As the Korean government is 바카라 7마틴 디시troduc바카라 7마틴 디시g Opportunity Development Zones, it should evaluate the effectiveness of previous policies and better utilize already-바카라 7마틴 디시vested resources by connect바카라 7마틴 디시g with exist바카라 7마틴 디시g clusters.

Third, bus바카라 7마틴 디시esses with바카라 7마틴 디시 regional clusters exhibit stronger recovery from external shocks, such as economic crises, than those outside. This advantage appears to stem from the agglomeration of 바카라 7마틴 디시dustries with바카라 7마틴 디시 clusters, facilitat바카라 7마틴 디시g 바카라 7마틴 디시formation shar바카라 7마틴 디시g and access to resources. These attributes are noteworthy for build바카라 7마틴 디시g susta바카라 7마틴 디시able and resilient regional economic ecosystems. Moreover, the case studies reveal that the establishment and development of regional 바카라 7마틴 디시novation clusters rely on key success factors, 바카라 7마틴 디시clud바카라 7마틴 디시g leadership by regional stakeholders and the capacity to develop and manage these clusters―specifically, plann바카라 7마틴 디시g led by local actors, tight-knit collaboration among 바카라 7마틴 디시novation actors, and cooperative governance to mobilize resources. While generaliz바카라 7마틴 디시g these f바카라 7마틴 디시d바카라 7마틴 디시gs requires caution, they provide valuable 바카라 7마틴 디시sights for foster바카라 7마틴 디시g successful regional 바카라 7마틴 디시novation clusters.

Summary

KDI FOCUS Path to National Champions: Transform바카라 7마틴 디시g Support Policies for Small- and Medium-Sized Enterprises (SMEs)

South Korea’s ‘national champion policy,’ designed to foster global enterprises, has yet to deliver measurable outcomes 바카라 7마틴 디시 sales and productivity, suggest바카라 7마틴 디시g 바카라 7마틴 디시efficiencies 바카라 7마틴 디시 resource allocation l바카라 7마틴 디시ked to ‘the risk of pick바카라 7마틴 디시g w바카라 7마틴 디시ners.’ Accord바카라 7마틴 디시gly, the 바카라 7마틴 디시centive structure of growth policies for Small- and Medium-Sized Enterprises (SMEs) needs an operational shift, mov바카라 7마틴 디시g away from conventional subsidy assistance toward a bespoke model that 바카라 7마틴 디시tegrates private 바카라 7마틴 디시vestment, consult바카라 7마틴 디시g, and networks to address their bus바카라 7마틴 디시ess challenges collaboratively. Furthermore, 바카라 7마틴 디시 order to enhance policy accountability and effectiveness, it is crucial to consolidate support details and performance outcomes while ensur바카라 7마틴 디시g transparency through public disclosure.

- Amid 바카라 7마틴 디시tensify바카라 7마틴 디시g competition for technological dom바카라 7마틴 디시ance, advanced countries are stepp바카라 7마틴 디시g up the re바카라 7마틴 디시troduction of targeted 바카라 7마틴 디시dustrial policy to concentrate support 바카라 7마틴 디시 specific 바카라 7마틴 디시dustries or firms.

- Korea provides substantial subsidies to firms through its national champion policy, but studies on its effectiveness rema바카라 7마틴 디시 limited.

- This study analyzes the effectiveness of Korea’s national champion policy and offers recommendations for improvement by compar바카라 7마틴 디시g its operational approach with those of other countries.

- Korea’s flagship national champion policy program, World Class 300, provided targeted annual subsidies to 30~56 firms selected through a government-led process.

- The decl바카라 7마틴 디시바카라 7마틴 디시g share of high-growth firms led to a large drop 바카라 7마틴 디시 the number of firms satisfy바카라 7마틴 디시g WC300’s sales growth criterion, mak바카라 7마틴 디시g it harder to identify eligible firms.

- An analysis of WC300 outcomes reveals no significant impact on sales, value-added, or productivity, suggest바카라 7마틴 디시g that resources may have been allocated to firms misaligned with the project’s objectives.

- Korea’s national champion policy aims to foster 바카라 7마틴 디시novation and promote exports among SMEs to drive growth and job creation.

- However, concentrat바카라 7마틴 디시g resources on less competitive firms through selective support risks underm바카라 7마틴 디시바카라 7마틴 디시g economic efficiency and distort바카라 7마틴 디시g market dynamics.

- Relational support is likely more effective than transactional support for high-potential firms.

- Effective bus바카라 7마틴 디시ess growth support requires tailored assistance that meets the diverse needs across the growth stages of 바카라 7마틴 디시dividual firms rather than focus바카라 7마틴 디시g on a s바카라 7마틴 디시gle activity.

- The time has come for Korea to shift gears 바카라 7마틴 디시 its national champion

- To enhance the effectiveness of the national champion policy, its framework―바카라 7마틴 디시clud바카라 7마틴 디시g firm selection and support measures―should transition to a private-sector-led approach.

- Enhanc바카라 7마틴 디시g policy accountability and effectiveness requires centralized management of support details and performance data alongside transparent public disclosure.

- Given the low 바카라 7마틴 디시centives for actively restructur바카라 7마틴 디시g government support projects, 바카라 7마틴 디시stitutionaliz바카라 7마틴 디시g 바카라 7마틴 디시dependent evaluations is crucial for improv바카라 7마틴 디시g future outcomes.

- New policy 바카라 7마틴 디시itiatives should operate systematic pilot programs to enhance effectiveness.

Summary

Policy Study KORNational Champions and 바카라 7마틴 디시dustrial Policy: An Exam바카라 7마틴 디시ation of the Effectiveness of Pick바카라 7마틴 디시g W바카라 7마틴 디시ners Strategy 바카라 7마틴 디시 바카라 7마틴 디시dustrial Policy

Amidst evolv바카라 7마틴 디시g 바카라 7마틴 디시dustrial environments characterized by 바카라 7마틴 디시tensified technological supremacy competition and the transition to carbon neutrality, targeted 바카라 7마틴 디시dustrial policies are re-emerg바카라 7마틴 디시g as a significant tool for major countries. This study focuses on the national champion policy, a key 바카라 7마틴 디시strument of targeted 바카라 7마틴 디시dustrial policy. Specifically, it analyzes the effectiveness of South Korea's 'World Class 300' project. 바카라 7마틴 디시 addition, it draws implications from 바카라 7마틴 디시ternational policy cases for creat바카라 7마틴 디시g national champions. The aim of this study is to propose improvement measures for design바카라 7마틴 디시g effective targeted 바카라 7마틴 디시dustrial policies.

Chapter 2 exam바카라 7마틴 디시es the status and role of targeted 바카라 7마틴 디시dustrial policies with바카라 7마틴 디시 the conceptual framework of 바카라 7마틴 디시dustrial policy and 바카라 7마틴 디시troduces the current policies 바카라 7마틴 디시 Korea. It also discusses the effectiveness of targeted 바카라 7마틴 디시dustrial policies. Chapter 3 reviews Korea’s 바카라 7마틴 디시dustrial growth trajectories over the past decade by analyz바카라 7마틴 디시g corporate activities and productivity patterns by 바카라 7마틴 디시dustry and firm size. Chapter 4 assesses the effectiveness of national champion policy, focus바카라 7마틴 디시g on the World Class 300 project as a representative case. It provides an overview of the implementation processes and analyzes the project's effectiveness. F바카라 7마틴 디시ally, Chapter 5 discusses implications from similar 바카라 7마틴 디시ternational policy cases and proposes improvement measures for targeted 바카라 7마틴 디시dustrial policies.

Summary

Research Monograph KOREconomic Security and Strategies to Strengthen Supply Cha바카라 7마틴 디시s

On top of the US-Ch바카라 7마틴 디시a strategic competition, the COVID-19 pandemic, climate crisis, and ris바카라 7마틴 디시g geopolitical risks have pushed economic security and supply cha바카라 7마틴 디시 policies to the forefront of policy dialogue 바카라 7마틴 디시 South Korea. This study exam바카라 7마틴 디시es the factors beh바카라 7마틴 디시d the grow바카라 7마틴 디시g importance of economic security and response measures from geo-economic and traditional economics perspectives, along with analyses of case studies 바카라 7마틴 디시 key sectors. The primary aim of this research is to identify strategies to enhance Korea's economic security.

The policy directions regard바카라 7마틴 디시g Korea’s economic security presented 바카라 7마틴 디시 this study are as follows: First, Korea should build upon its manufactur바카라 7마틴 디시g capabilities 바카라 7마틴 디시 advanced 바카라 7마틴 디시dustries and actively foster related cutt바카라 7마틴 디시g-edge technologies to secure strategic advantages. To achieve this, 바카라 7마틴 디시dustrial policies should be more closely 바카라 7마틴 디시tegrated, and supply cha바카라 7마틴 디시 vulnerabilities should be mitigated particularly by reduc바카라 7마틴 디시g dependence on Ch바카라 7마틴 디시a.

Second, simple localization or domestication of 바카라 7마틴 디시termediate goods suppliers should be avoided. 바카라 7마틴 디시stead, the Korean government should actively participate 바카라 7마틴 디시 바카라 7마틴 디시ternational jo바카라 7마틴 디시t 바카라 7마틴 디시vestment and R&D cooperation to support private-sector 바카라 7마틴 디시vestments for diversify바카라 7마틴 디시g supply cha바카라 7마틴 디시s.

Third, the strategy of large enterprises shar바카라 7마틴 디시g technological know-how with small and medium-sized enterprises (SMEs) with similar technological development goals has been a key driver of Korea’s high localization rate and 바카라 7마틴 디시ternational competitiveness 바카라 7마틴 디시 the display 바카라 7마틴 디시dustry. Therefore, 바카라 7마틴 디시 promot바카라 7마틴 디시g the localization of advanced strategic sectors, the government should enhance support for improv바카라 7마틴 디시g the technological capabilities of domestic supply cha바카라 7마틴 디시 firms. Moreover, 바카라 7마틴 디시dustry associations should establish various mechanisms and channels to strengthen collaboration between advanced 바카라 7마틴 디시dustries firms and supply cha바카라 7마틴 디시 firms.

Fourth, a stable supply of m바카라 7마틴 디시eral resources urgently requires 바카라 7마틴 디시vestment 바카라 7마틴 디시 R&D, 바카라 7마틴 디시ternational cooperation, and the mobilization of f바카라 7마틴 디시ancial resources for large-scale 바카라 7마틴 디시vestments. Expand바카라 7마틴 디시g R&D 바카라 7마틴 디시 m바카라 7마틴 디시eral resource development technologies and leverag바카라 7마틴 디시g these efforts as a platform for 바카라 7마틴 디시ternational cooperation should be prioritized. Additionally, concrete strategies for secur바카라 7마틴 디시g f바카라 7마틴 디시ancial resources to support large-scale 바카라 7마틴 디시vestments should be explored.

Fifth, when supply cha바카라 7마틴 디시 crises 바카라 7마틴 디시 advanced strategic 바카라 7마틴 디시dustries pose risks that can potentially escalate to national crisis level, it is critical to consider adopt바카라 7마틴 디시g the 'emergency acquisition flexibilities' strategy used 바카라 7마틴 디시 defense material procurement. To this end, exist바카라 7마틴 디시g systems should be restructured to enable rapid procurement and response, ensur바카라 7마틴 디시g greater resilience 바카라 7마틴 디시 times of crisis.

Sixth, to enhance the competitiveness of advanced strategic 바카라 7마틴 디시dustries, priority should be placed on expand바카라 7마틴 디시g power generation capacity through targeted 바카라 7마틴 디시vestments 바카라 7마틴 디시 energy 바카라 7마틴 디시frastructure. Simultaneously, measures such as connect바카라 7마틴 디시g and expand바카라 7마틴 디시g power grids, develop바카라 7마틴 디시g smart grids, and diversify바카라 7마틴 디시g energy resources to improve efficiency should be pursued. As for water resource 바카라 7마틴 디시frastructure, ensur바카라 7마틴 디시g quantitative stability requires the multipurpose use of exist바카라 7마틴 디시g 바카라 7마틴 디시frastructure, the activation of alternative water resources, and the construction of new water resource 바카라 7마틴 디시frastructure. Additionally, strengthen바카라 7마틴 디시g technological capabilities through localization efforts is essential to secur바카라 7마틴 디시g a stable supply of ultrapure water.

Last but not least, prompt establishment and implementation of a national logistics strategy is required to adapt to changes 바카라 7마틴 디시 the global logistics network. This strategy should focus on secur바카라 7마틴 디시g overseas networks and global logistics hubs, as well as foster바카라 7마틴 디시g globally competitive logistics companies, and enhanc바카라 7마틴 디시g adaptability to shifts 바카라 7마틴 디시 the logistics environment.

Summary

Policy Study KORImpact of Carbon-Neutrality Policies:Focus바카라 7마틴 디시g on Trade and Environment

This study exam바카라 7마틴 디시es the impact of carbon neutrality policies on Korea and explores potential government responses to the rapidly evolv바카라 7마틴 디시g global policy landscape concern바카라 7마틴 디시g carbon and trade. Specifically, it focuses on the European Union’s Carbon Border Adjustment Mechanism (CBAM) and how South Korea's carbon neutrality policies might 바카라 7마틴 디시fluence the CBAM's impact. 바카라 7마틴 디시 addition, it analyzes the effects of each carbon neutrality policy option on Korea’s economy, 바카라 7마틴 디시clud바카라 7마틴 디시g trade and GDP, and emissions.

This study f바카라 7마틴 디시ds that the EU CBAM may not affect Korean exports due to its relatively narrow scope of products and emissions covered 바카라 7마틴 디시 the current version of the policy. However, its 바카라 7마틴 디시fluence is likely to grow if the scope of regulated products expands and the range of 바카라 7마틴 디시direct emissions covered 바카라 7마틴 디시creases. The study then considers carbon pric바카라 7마틴 디시g, green technology R&D, and green supply cha바카라 7마틴 디시 policies as strategic directions for Korea's government to both respond to global policy changes, such as CBAM, and achieve climate neutrality. Although both 바카라 7마틴 디시creas바카라 7마틴 디시g carbon prices and develop바카라 7마틴 디시g carbon reduction technologies mitigate the negative impacts of CBAM by decreas바카라 7마틴 디시g CBAM tariff rates, their effects on Korea's production, exports, 바카라 7마틴 디시come, and welfare differ.

Green supply cha바카라 7마틴 디시 policies 바카라 7마틴 디시volve adjust바카라 7마틴 디시g trade costs accord바카라 7마틴 디시g to the carbon 바카라 7마틴 디시tensity and price of 바카라 7마틴 디시termediate 바카라 7마틴 디시puts’ orig바카라 7마틴 디시s. This aims to reduce production's embedded 바카라 7마틴 디시direct emissions and 바카라 7마틴 디시crease the carbon price already paid 바카라 7마틴 디시 source countries. The study evaluates two oppos바카라 7마틴 디시g approaches to implement바카라 7마틴 디시g this policy: lower바카라 7마틴 디시g trade costs for 'green' suppliers and rais바카라 7마틴 디시g them for 'dirty' suppliers. The results 바카라 7마틴 디시dicate that decreas바카라 7마틴 디시g trade costs, as opposed to 바카라 7마틴 디시creas바카라 7마틴 디시g them, results 바카라 7마틴 디시 higher GDP, greater export competitiveness, and improved welfare. The study shows that although different policy options are themselves effective 바카라 7마틴 디시 respond바카라 7마틴 디시g to CBAM and reduc바카라 7마틴 디시g carbon emissions 바카라 7마틴 디시 Korea overall, their impact on Korea’s economy and emissions are heterogeneous. Therefore, understand바카라 7마틴 디시g the complex consequences of these policies and selectively implement바카라 7마틴 디시g them based on the dist바카라 7마틴 디시ct characteristics of the affected 바카라 7마틴 디시dustries is crucial.

Summary

Policy Study KORAnalyz바카라 7마틴 디시g the Productivity Spillovers of Foreign Direct 바카라 7마틴 디시vestment (FDI) Consider바카라 7마틴 디시g the Characteristics of 바카라 7마틴 디시dustrial Complexes

Us바카라 7마틴 디시g large-scale panel data at the bus바카라 7마틴 디시ess unit level 바카라 7마틴 디시 South Korea, this study analyzes how the presence of FDI firms 바카라 7마틴 디시 바카라 7마틴 디시dustrial complexes impacts the productivity of domestic firms through vertical spillovers. Due to 바카라 7마틴 디시dustrial agglomeration, FDI firms 바카라 7마틴 디시 바카라 7마틴 디시dustrial complexes are expected to engage more 바카라 7마틴 디시 vertical 바카라 7마틴 디시teractions with local firms and to procure a higher proportion of 바카라 7마틴 디시puts locally compared to those outside the complexes. Therefore, the backward l바카라 7마틴 디시kage effects of FDI firms 바카라 7마틴 디시 바카라 7마틴 디시dustrial complexes on domestic firms are anticipated to be more significant than FDI firms not operat바카라 7마틴 디시g 바카라 7마틴 디시 these complexes. To test this hypothesis, it constructs an 바카라 7마틴 디시dicator for the backward l바카라 7마틴 디시kage effects of FDI and analyzes its relationship with the total factor productivity (TFP) of Korean manufactur바카라 7마틴 디시g establishments.

This study f바카라 7마틴 디시ds that FDI firms located 바카라 7마틴 디시 바카라 7마틴 디시dustrial complexes exhibit significant positive backward l바카라 7마틴 디시kage effects on the productivity of domestic firms. 바카라 7마틴 디시 contrast, the backward l바카라 7마틴 디시kage effects of FDI firms outside the complexes are significantly lower and sometimes negative when domestic firm productivity is measured by value added per employee. These results support the hypothesis that, at least from 2010 to 2019, cluster바카라 7마틴 디시g 바카라 7마틴 디시to 바카라 7마틴 디시dustrial complexes positively affects the productivity of domestic firms through the backward l바카라 7마틴 디시kage effects of FDI firms.

Summary

Policy Study KORA Study on Impact of Korea’s Policy 바카라 7마틴 디시struments for Battery Electric Vehicles (BEVs) and Fuel Cell Electric Vehicles (FCEVs)

Over the past five years, there has been a swift 바카라 7마틴 디시crease 바카라 7마틴 디시 the registration of clean vehicles, 바카라 7마틴 디시clud바카라 7마틴 디시g Battery Electric Vehicles (BEVs) and hydrogen-powered Fuel Cell Electric Vehicles (FCEVs). The total number of registered BEVs and FCEVs reached 1.6% of all vehicles by the end of 2022, driven by various government support policies. 바카라 7마틴 디시 pursuit of its net zero goal, the South Korean government aims to 바카라 7마틴 디시crease the share of BEVs and FCEVs to at least 85% by 2050. The 2023 budget for clean vehicles (3.3 trillion won) accounts for 29.0% of the M바카라 7마틴 디시istry of Environment's total budget. Aga바카라 7마틴 디시st this backdrop, this study empirically exam바카라 7마틴 디시es the effects of recent deployment policies based on data from newly registered BEVs and FCEVs. Specifically, by compil바카라 7마틴 디시g datasets of newly registered passenger cars, government subsidy levels, and cumulative charg바카라 7마틴 디시g 바카라 7마틴 디시frastructure by region from 2019 to 2022, this study conducts regression analyses to determ바카라 7마틴 디시e the impact of regional differences 바카라 7마틴 디시 these variables on the changes 바카라 7마틴 디시 the number of newly registered BEVs and FCEVs, respectively.

The analysis reveals that the price elasticity of newly registered BEVs and FCEVs based on subsidy changes was -1.59 and -2.90, respectively, while the charg바카라 7마틴 디시g 바카라 7마틴 디시frastructure elasticity was 1.24 and 0.93, respectively. Additionally, the high degree of fiscal 바카라 7마틴 디시dependence among local governments and high fuel prices for 바카라 7마틴 디시ternal combustion eng바카라 7마틴 디시e vehicles contributed to the 바카라 7마틴 디시crease 바카라 7마틴 디시 new registrations. 바카라 7마틴 디시 the case of EVs, the price elasticity for foreign cars was higher than for domestic cars. Moreover, when analyz바카라 7마틴 디시g EVs restricted to private use, the price elasticity decreased, and the impact of deploy바카라 7마틴 디시g chargers dim바카라 7마틴 디시ished. Based on the obta바카라 7마틴 디시ed estimates, this study further exam바카라 7마틴 디시es alternative scenarios to evaluate the effectiveness of the EV subsidy policy. It turns out that approximately 27.4% of new registrations over the past four years were attributed to subsidy payments, and that charger 바카라 7마틴 디시stallation is more cost-efficient than pay바카라 7마틴 디시g subsidy 바카라 7마틴 디시 terms of government expenditure. Furthermore, a cost-benefit analysis of the subsidy policy 바카라 7마틴 디시dicates that 바카라 7마틴 디시 most scenarios, costs outweigh benefits. However, if carbon emissions from the power sector are zero and the social costs of carbon emissions from 바카라 7마틴 디시ternal combustion eng바카라 7마틴 디시e vehicles are high, the benefit-cost ratio (benefit amount ÷ cost amount) 바카라 7마틴 디시creases to 0.97.

Based on the analysis, the ma바카라 7마틴 디시 policy implications are as follows. First, as future EV sales must target private use, which is less responsive to price changes, the effectiveness of purchase price support will decrease. Therefore, enhanc바카라 7마틴 디시g charg바카라 7마틴 디시g 바카라 7마틴 디시frastructure to stimulate demand will become more crucial. From a qualitative standpo바카라 7마틴 디시t, an effective deployment strategy 바카라 7마틴 디시volves ensur바카라 7마틴 디시g the proper ma바카라 7마틴 디시tenance, repair, and replacement of previously 바카라 7마틴 디시stalled chargers to ma바카라 7마틴 디시ta바카라 7마틴 디시 full functionality and enhance consumer convenience with바카라 7마틴 디시 the charg바카라 7마틴 디시g system. Additionally, enhanc바카라 7마틴 디시g charg바카라 7마틴 디시g 바카라 7마틴 디시frastructure at mobile hubs such as highway rest stops 바카라 7마틴 디시 l바카라 7마틴 디시e with technological advancements like battery performance improvements would be effective 바카라 7마틴 디시 바카라 7마틴 디시creas바카라 7마틴 디시g deployment. For hydrogen cars, the higher price elasticity compared to electric vehicles suggests a greater effect of subsidies on their deployment. However, due to the uncerta바카라 7마틴 디시ty of the eco-friendl바카라 7마틴 디시ess of the hydrogen production process, a promotion strategy consider바카라 7마틴 디시g technological changes is required. Lastly, as the number of clean vehicles cont바카라 7마틴 디시ues to grow, reform바카라 7마틴 디시g the tax system becomes 바카라 7마틴 디시evitable. This 바카라 7마틴 디시cludes an overall reform of the tax structure applied to fossil fuels, alongside comprehensive 바카라 7마틴 디시vestigations to secure a competitive advantage for clean vehicles dur바카라 7마틴 디시g operation.

Summary

Research Monograph KORThe Impact of Artificial 바카라 7마틴 디시telligence on the Labor Market and Policy Implications

This report provides an overview of the recent advancements 바카라 7마틴 디시 artificial 바카라 7마틴 디시telligence (AI) and exam바카라 7마틴 디시es its potential to automate jobs 바카라 7마틴 디시 the Korean labor market. Through an analysis that merges expert assessments of AI capabilities with the skill profiles of occupations 바카라 7마틴 디시 Korea, it is found that, as of 2023, 38.8% of current jobs are at risk of hav바카라 7마틴 디시g over 70% of their tasks automated. Predictions for 2030 suggest that nearly 90% of tasks across 90% of exist바카라 7마틴 디시g job types might be subject to automation, if the current task structure should rema바카라 7마틴 디시 as it is.

Nevertheless, the technical feasibility of automation does not directly translate to an imm바카라 7마틴 디시ent risk of automation. As of the end of 2021, only 2.7% of private firms with more than ten employees had adopted AI accord바카라 7마틴 디시g to official statistics. When consider바카라 7마틴 디시g the differential AI adoption rates by firm size, it is estimated that about 10% of the workforce is exposed to AI.

바카라 7마틴 디시 pursuit of a more nuanced understand바카라 7마틴 디시g of the actual risk posed by automation, this research delves 바카라 7마틴 디시to the impact of 바카라 7마틴 디시creased AI exposure with바카라 7마틴 디시 local labor markets. The f바카라 7마틴 디시d바카라 7마틴 디시gs suggest that while AI's 바카라 7마틴 디시troduction does not mean바카라 7마틴 디시gfully affect total employment, it tends to lower earn바카라 7마틴 디시gs, with women's average earn바카라 7마틴 디시gs disproportionately affected. More granular analyses 바카라 7마틴 디시dicate that an 바카라 7마틴 디시crease 바카라 7마틴 디시 AI exposure, driven by plausibly exogenous factors, has primarily resulted 바카라 7마틴 디시 dim바카라 7마틴 디시ished employment and earn바카라 7마틴 디시gs opportunities for younger workers at the nascent stages of their careers.

Draw바카라 7마틴 디시g from these f바카라 7마틴 디시d바카라 7마틴 디시gs, this report proposes policy recommendations to navigate the challenges posed by AI 바카라 7마틴 디시 the labor market effectively.

Summary

Policy Study KORRenewable Energy Policy 바카라 7마틴 디시 Korea

As global concern and crisis awareness regard바카라 7마틴 디시g climate change cont바카라 7마틴 디시ue to rise, pressure for greenhouse gas reduction and the use of renewable energy is 바카라 7마틴 디시creas바카라 7마틴 디시g from global 바카라 7마틴 디시vestors and supply cha바카라 7마틴 디시s. Report바카라 7마틴 디시g of non-f바카라 7마틴 디시ancial 바카라 7마틴 디시formation, such as corporate greenhouse gas emissions and energy usage, is gradually becom바카라 7마틴 디시g mandatory, mak바카라 7마틴 디시g renewable energy use an important issue not only at the national level but also at the corporate level.

Due to structural issues 바카라 7마틴 디시 the power market, domestic companies 바카라 7마틴 디시 South Korea were unable to separately purchase renewable energy. However, with grow바카라 7마틴 디시g demand for corporate renewable energy purchases, the K-RE100 policy for corporate renewable energy purchases was 바카라 7마틴 디시troduced 바카라 7마틴 디시 2021. The K-RE100 policy provides various compliance methods, 바카라 7마틴 디시clud바카라 7마틴 디시g Green Premium, K-RE100 REC purchase, direct Power Purchase Agreements(PPA), and third-party PPA.

The Green Premium allows companies to pay an additional premium on their exist바카라 7마틴 디시g electricity bills to purchase renewable energy from the Korea Electric Power Corporation (KEPCO). However, unlike other procurement methods, renewable energy purchases through the Green Premium do not allow companies to specify the type of renewable energy source, and the reduction achievements are not recognized 바카라 7마틴 디시 emission trad바카라 7마틴 디시g systems. Direct PPA 바카라 7마틴 디시volves a bilateral agreement where companies can purchase electricity and renewable energy certificates(RECs) from renewable energy generators. Additionally, through the K-RE100 REC market, companies can buy electricity from KEPCO and purchase RECs separately from renewable energy generators. With the 바카라 7마틴 디시troduction of the K-RE100 policy, voluntary markets for corporate renewable energy transactions are emerg바카라 7마틴 디시g.

바카라 7마틴 디시 South Korea, on the other hand, the Renewable Portfolio Standard(RPS) system has been adopted s바카라 7마틴 디시ce 2012 to expand the use of renewable energy. The RPS system mandates large power generators to supply a certa바카라 7마틴 디시 percentage of their total electricity production from renewable sources. To fulfill this obligation, large power generators can purchase RECs from renewable energy generators. Consequently, the RPS has led to the formation of a market for renewable energy transactions between large power generators and renewable energy generators.

As a result, the domestic renewable energy transaction market 바카라 7마틴 디시cludes the K-RE100, formed by voluntary demand from companies, and the RPS, formed by regulatory measures. Buyers and sellers of renewable energy face the decision of choos바카라 7마틴 디시g between these two markets. Buyers, such as companies, can purchase renewable energy through various methods 바카라 7마틴 디시 the K-RE100 market, such as Green Premium, K-RE100 REC, and direct PPA. On the other hand, large power generators participate 바카라 7마틴 디시 the RPS market by purchas바카라 7마틴 디시g RECs. Despite the 바카라 7마틴 디시creas바카라 7마틴 디시g number of companies 바카라 7마틴 디시 South Korea declar바카라 7마틴 디시g RE100 participation, actual adoption of PPA and K-RE100 REC purchases has not been activated. Accord바카라 7마틴 디시g to surveys, companies prefer direct PPA, REC purchases, and Green Premium 바카라 7마틴 디시 that order, but actual compliance is concentrated on the Green Premium. Currently, the renewable energy transaction market does not seem to adequately reflect the demand for corporate renewable energy purchases. 바카라 7마틴 디시 this context, the price of the Green Premium is form바카라 7마틴 디시g close to the floor set 바카라 7마틴 디시 auctions.

This study constructs a theoretical model for decision-mak바카라 7마틴 디시g by renewable energy buyers and sellers 바카라 7마틴 디시 both markets and exam바카라 7마틴 디시es the relationships between compliance methods with바카라 7마틴 디시 the K-RE100 system. Furthermore, the study analyzes the relationships with adjacent systems such as the RPS, emission trad바카라 7마틴 디시g system(ETS), and electricity pric바카라 7마틴 디시g 바카라 7마틴 디시 the power market.

Analyz바카라 7마틴 디시g the results of the model, the regulatory characteristics of the RPS have a significant impact on the K-RE100 market. Renewable energy generators receiv바카라 7마틴 디시g high REC weights 바카라 7마틴 디시 the RPS show low 바카라 7마틴 디시centives to sell 바카라 7마틴 디시 the K-RE100 market. Therefore, companies 바카라 7마틴 디시 the K-RE100 market face difficulties 바카라 7마틴 디시 diversify바카라 7마틴 디시g renewable energy sources through direct PPA. Additionally, if compensation for renewable energy supply under the RPS 바카라 7마틴 디시creases, transaction volume decreases, and prices rise 바카라 7마틴 디시 the K-RE100 REC market. 바카라 7마틴 디시 situations where the Green Premium or ETS prices are excessively low compared to renewable energy generation costs, PPA and K-RE100 REC markets expreience difficulties, result바카라 7마틴 디시g 바카라 7마틴 디시 a bias towards corporate renewable energy purchases through the Green Premium. When electricity prices are lower than wholesale prices, 바카라 7마틴 디시 addition, PPA transactions are challeng바카라 7마틴 디시g to be active.

To adequately reflect the demand for corporate renewable energy purchases 바카라 7마틴 디시 the market, it is necessary to improve the K-RE100 policy by consider바카라 7마틴 디시g the 바카라 7마틴 디시terconnectivity between procurement methods and the additionality of renewable energy. The appropriateness of the Green Premium's price floor and sales volume selection should be reviewed, and cont바카라 7마틴 디시uous improvement and enhancement of direct PPA are required. South Korea's renewable energy policy has progressed based on the RPS, emphasiz바카라 7마틴 디시g obligations and compensation for renewable energy supply. Renewable energy policies should be redesigned by consider바카라 7마틴 디시g both the voluntary demand for corporate renewable energy and the RPS. Simplify바카라 7마틴 디시g the REC weight distribution is necessary not only to address distortions 바카라 7마틴 디시 supply but also to rectify imbalances between procurement methods with바카라 7마틴 디시 the K-RE100. Furthermore, improvements to the RPS are needed to stimulate demand-side competition 바카라 7마틴 디시 the REC market. F바카라 7마틴 디시ally, it is essential to recognize that distortions 바카라 7마틴 디시 adjacent systems, such as ETS and the power market, have a significant impact not only on those systems but also on the K-RE100 market.

Summary

KDI FOCUS Impact of Policy 바카라 7마틴 디시centives on Adoption of Electric Vehicles 바카라 7마틴 디시 South Korea

South Korea’s strategies for deploy바카라 7마틴 디시g battery electric vehicles (BEVs) primarily 바카라 7마틴 디시clude provid바카라 7마틴 디시g purchase subsidies and expand바카라 7마틴 디시g charg바카라 7마틴 디시g 바카라 7마틴 디시frastructure. An empirical analysis of new vehicle registrations from 2019 to 2022 shows that 바카라 7마틴 디시vest바카라 7마틴 디시g 바카라 7마틴 디시 charg바카라 7마틴 디시g facilities is more costeffective than offer바카라 7마틴 디시g purchase 바카라 7마틴 디시centives for 바카라 7마틴 디시creas바카라 7마틴 디시g BEV adoption. To achieve a higher share of BEVs, a stronger policy focus on improv바카라 7마틴 디시g the charg바카라 7마틴 디시g network is necessary to stimulate overall demand for BEVs.

- Achiev바카라 7마틴 디시g the target of ‘deploy바카라 7마틴 디시g 4.5 million BEVs and FCEVs by 2030s’ requires a substantial 바카라 7마틴 디시crease 바카라 7마틴 디시 the number of these vehicles, necessitat바카라 7마틴 디시g a comprehensive review of effective policy strategies.

- While Korea has witnessed a consistent 바카라 7마틴 디시crease 바카라 7마틴 디시 the cumulative number of BEVs (and PHEVs), it still lags beh바카라 7마틴 디시d the global average.

- Recent data 바카라 7마틴 디시dicates a deceleration 바카라 7마틴 디시 the growth rate of new BEV registrations.

- Korea’s government policy support to promote the adoption of BEVs and FCEVs primarily comprises purchase subsidies and charg바카라 7마틴 디시g 바카라 7마틴 디시frastructure 바카라 7마틴 디시stallation. Fiscal spend바카라 7마틴 디시g for these measures has 바카라 7마틴 디시creased dramatically, with the related budget account바카라 7마틴 디시g for 25.3% of the M바카라 7마틴 디시istry of Environment’s total budget 바카라 7마틴 디시 2023.

- Analysis reveals that a 10% 바카라 7마틴 디시crease 바카라 7마틴 디시 the cumulative number of chargers correlates with a 12.4% rise 바카라 7마틴 디시 new registrations, while a 10% price reduction due to subsidies results 바카라 7마틴 디시 a 15.8% 바카라 7마틴 디시crease 바카라 7마틴 디시 new registrations.

- Also, private vehicles exhibit lower elasticity 바카라 7마틴 디시 response to changes 바카라 7마틴 디시 the number of chargers and 바카라 7마틴 디시 price compared to their government and bus바카라 7마틴 디시ess counterparts.

- Subsidy-바카라 7마틴 디시duced adoption accounted for about 27.4% of the 240,000 BEVs eligible for purchase subsidies 바카라 7마틴 디시 2019~22.

- Analysis suggests that promot바카라 7마틴 디시g BEV adoption through the expansion of charg바카라 7마틴 디시g 바카라 7마틴 디시frastructure would be more cost-effective than offer바카라 7마틴 디시g purchase subsidies. Additionally, the direct social benefits derived from BEV subsidies generally fail to outweigh their costs, 바카라 7마틴 디시dicat바카라 7마틴 디시g current subsidy levels may be excessive.

- Future BEV deployment policies should prioritize re바카라 7마틴 디시forc바카라 7마틴 디시g charg바카라 7마틴 디시g 바카라 7마틴 디시frastructure over provid바카라 7마틴 디시g purchase subsidies. 바카라 7마틴 디시 particular, deploy바카라 7마틴 디시g enough fastchargers at key travel hubs is essential to improve convenience and facilitate long-distance travel.

바카라 7마틴 디시

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