This blog post structurally examines how Coupang Eats’ free delivery strategy altered consumer choices and competitive dynamics, shaking up the Korean food delivery app market dominated by Baedal Minjok. This blog post discusses the seismic shift in Korea’s food delivery app market and the decline of Baedal Minjok, once the absolute leader. This change was a foreseeable trend...
In this blog post, we calmly examine from the perspectives of psychology and neuroscience how we come to mistake the feeling of ‘wanting to buy’ for ‘need,’ and the process by which the unconscious and emotional marketing dominate consumption. Shopping is unconscious We are exposed to the onslaught of consumer marketing through countless diverse channels. So why can’t we accurately...
This blog post explores why the international community fails to cooperate despite universal recognition of the climate crisis’s severity, analyzing the reasons through the lens of the prisoner’s dilemma, conflicting national interests, and the structure of distrust. The Real Reason Solving the Climate Crisis is Difficult Globally, the climate crisis is becoming increasingly...
This blog post examines why efficiency becomes an issue when the government pursues economic equity, weighs the balance between these two values amid debates over taxation, redistribution, and tax cuts, and summarizes their economic implications. The Economic Implications of Government Policy The market economy system is fundamentally an economic system capable of achieving a significant...
This blog post examines the decline in Korean movie theater audiences from the perspectives of price increases and price elasticity of demand, analyzing both consumer and corporate choices. The Financial Freedom to Skip the Theater Every year from late July to early August, several large-scale, so-called tentpole Korean films are released. The theater industry, which suffered greatly from...
This blog post calmly examines how the Russia-Ukraine war has impacted our daily lives and economy through energy, grain, and inflation, using concrete examples. In February 2022, war broke out following Russia’s invasion of Ukraine. For many South Koreans, these two countries—especially Ukraine—are somewhat unfamiliar entities. While the names might be recognized, pinpointing them...
This blog post examines the structure of debt permeating our daily lives, from credit card usage to home equity loans, and calmly explores the implications of household debt for individuals and society. It seeks the criteria for making choices. Loans are like ‘alcohol’ A loan, simply put, is ‘incurring debt’. Having debt isn’t necessarily bad. The problem lies in ‘excessive...
This blog post examines how inflation affects currency value, income, and perceived living costs, and how it alters our current lives and future choices through specific examples. There was a time when you could ride the bus for 100 won From a single potato bought at the market, to a notebook chosen at the stationery store, to a cup of coffee at a cafe—everything we pay for and use has a...
This blog post calmly examines the connection between government policy and the real estate market through the structure of taxes levied throughout the entire process of buying, owning, and selling a home. It also outlines the logic by which taxes regulate the market. Taxes are the final step in real estate In a market economy, those who possess assets must bear the corresponding tax...
This blog post examines how well the existing industrial classification system aligns with technological advancements and market changes, and discusses the need for a more flexible approach to reflect emerging industries. Economist John Bates Clark originally classified industries into primary, secondary, and tertiary sectors based on whether they extract raw materials from nature, process...