• KDI Journal of Economic Policy
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• v.32 no.4
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• pp.153-195
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• 2010

The recent global financial crisis has been the outcome of, among other things, the mismatch between institutions and the reality of the market in the current global financial system. The International financial institutions (IFIs) that were designed more than 60 years ago can no longer effectively meet the challenges posed by the current global economy. While the global financial market has become integrated like a single market, there is no international lender of last resort or global regulatory body. There also has been a rapid shift in the weight of economic power. The share of the Group of 7 (G7) countries in global gross domestic product (GDP) fell and the share of emerging market economies increased rapidly. Therefore, the tasks facing us today are: (i) to reform the IFIs -mandate, resources, management, and governance structure; (ii) to reform the system such as the international monetary system (IMS), and regulatory framework of the global financial system; and (iii) to reform global economic governance. The main focus of this paper will be the IMS reform and the role of the Group of Twenty (G20) summit meetings. The current IMS problems can be summarized as follows. First, the demand for foreign reserve accumulation has been increasing despite the movement from fixed exchange rate regimes to floating rate regimes some 40 years ago. Second, this increasing demand for foreign reserves has been concentrated in US dollar assets, especially public securities. Third, as the IMS relies too heavily on the supply of currency issued by a center country (the US), it gives an exorbitant privilege to this country, which can issue Treasury bills at the lowest possible interest rate in the international capital market. Fourth, as a related problem, the global financial system depends too heavily on the center country's ability to maintain the stability of the value of its currency and strength of its own financial system. Fifth, international capital flows have been distorted in the current IMS, from EMEs and developing countries where the productivity of capital investment is higher, to advanced economies, especially the US, where the return to capital investment is lower. Given these problems, there have been various proposals to reform the current IMS. They can be grouped into two: demand-side and supply-side reform. The key in the former is how to reduce the widespread strong demand for foreign reserve holdings among EMEs. There have been several proposals to reduce the self-insurance motivation. They include third-party insurance and the expansion of the opportunity to borrow from a global and regional reserve pool, or access to global lender of last resort (or something similar). However, the first option would be too costly. That leads us to the second option - building a stronger globalfinancial safety net. Discussions on supply-side reform of the IMS focus on how to diversify the supply of international reserve currency. The proposals include moving to a multiple currency system; increased allocation and wider use of special drawing rights (SDR); and creating a new global reserve currency. A key question is whether diversification should be encouraged among suitable existing currencies, or if it should be sought more with global reserve assets, acting as a complement or even substitute to existing ones. Each proposal has its pros and cons; they also face trade-offs between desirability and political feasibility. The transition would require close collaboration among the major players. This should include efforts at the least to strengthen policy coordination and collaboration among the major economies, and to reform the IMF to make it a more effective institution for bilateral and multilateral surveillance and as an international lender of last resort. The success on both fronts depends heavily on global economic governance reform and the role of the G20. The challenge is how to make the G20 effective. Without institutional innovations within the G20, there is a high risk that its summits will follow the path of previous summit meetings, such as G7/G8.

• Journal of the Korean Geographical Society
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• v.29 no.4
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• pp.402-419
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• 1994

Telecommunication and intormation technology have been conceived as crucial as well as revolutionary elements for recent and future social and economic development, and their development have led to a spatial reorganization and locational change of economic activities. Information technology has resulted in important changes in the organization structure and location of firm. This study draws attention to the understanding of the relationship between the diffusion of information technology and changes in firm activities with the special reference to the service industry of the United States. Information technology has had a significant impact on the growth and changes of the service industry of the United States through changes in the organizational and employment structure, market structure, and locational changes. The impact of information technology on location changes of the service industry shows two opposite patterns, concentration and decentralization. Among these patterns, the location change in the service industry of the United States reveals predominantly the decentralization tendency such as suburbanization and transfer to lower ranking cities rather than concentration. In case of Korea, however, it is anticipated that the rapid development of information technology may lead to the concentration of the service industry in Seoul and Capital region.

• Journal of the Korean Geographical Society
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• v.31 no.4
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• pp.662-671
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• 1996

Since the world's economic and political structures have changed, the term 'globlization' has shown up as a dominant power and as a necessity for regional and national development. Each nation is responding to the globalization process economically and politically in various ways. In general, however, the economic response to the globalization is economic restructuring from the Fordist industries to 'flexible specialization'. And the political response to the globalization is 'global localization' as a new type of local politics(i.e., local policy activism or growth-enhancing local development policies). The crisis of Fordism shifted the role of local governments towards more involovement with local economic development. Local governments are mobilizing for loca economic development, they are taken into a process of institutional change that tends to redefine their responsibilities inside the state. Local governments thus tend to act as an entrepreneur in order to restructure theiir local economies and to compete with other national and international regions. State restructuring towards enerepreneurialism and efficient regional policy pursuing a pro-growth coalition trategy is chosen as a new mode of regulation for the post-Fordism at the local level. The flexible specialization as the post-Fordist economy and the local government as an entrepreneur are the global choice for globalization and a post-Fordist society. The paper focuses on the regulation theory which comprises the political economic perspective on resturcturing. Economic restructuring and state restructuring will be discussed in detail. And the paper tries to combine the economic globalization and the global localization as economic and political responses to globalization.

• The Korean Journal of Air & Space Law and Policy
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• v.32 no.2
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• pp.129-153
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• 2017

Fair Competition policy in aviation field has been discussed since open skies policy began in 1970s. This issue has been also the main topic in the ICAO's Worldwide Air Transport Conference, the Air Transport Symposium, etc. ICAO defines competition as the existent or potential rivalry between two or more operators, carriers or groups, striving for advantages in the same market based on different prices, qualities and services. In a broader sense, the definition includes more various meanings; reasonable, fair, effective, and unrestricted competitions. Nowadays, competition laws and regulations to air transportation have been applied more frequently and the issues varies from antitrust immunity, mergers and alliances, abuse of dominant positions, capacity dumping and predatory pricing, sales and marketing, to airport charges and fees, state aid and loan guarantees. Now, the competition among the airlines or nations in aviation industry is changing to cooperation level. A lot of airlines try to survive by various cooperation methods. Therefore the policy of Korean aviation industry should be developed, taking so-called "the viewpoint of national aviation industry ecosystem" into consideration and Korean government should prepare a policy of fair competition to cope with it. First, in the process of open skies policy with neighboring countries such as China, Japan and the Middle East, it is necessary to apply the fair competition act and prepare laws and regulations to implement it. Second, the standards of effective ownership and control of air transportation business should be reviewed. Third, in preparation for aviation agreements and liberalization, the Korean aviation industry needs to study and review competition and cooperation issues through the analysis of strict aviation market structure for airlines and airport operations. Fourth, it is necessary to create a fair air transportation environment for the development of air transportation and competitiveness through preemptive policies such as the approval of mergers, acquisitions, JV and the ripple effects analysis.

• Journal of the Korean Geographical Society
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• v.28 no.4
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• pp.285-297
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• 1993

For the application of the diffusion equation, slope height and maximum slope angle are calculated from the plotted slope profile. Using denudation rate as a solution for the diffusion equation, an apparent age index can be calculated, which is the total amount of denudation through total time. Plots of slope angle versus slope height and apparent age index versus slope height are useful for determining relative or absolute ages and denudation rates. Mathematical simulation plots of slope angle versus slope height can generate equal denudation-rate lines for a given age. Mathematical simulations of slope angle versus age for a given slope height, for equal denudation-rate at a particular profile site, and for comparing to other sites having controlled ages.

• Journal of the Korean association of regional geographers
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• v.7 no.3
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• pp.91-106
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• 2001

Local government takes an active role in the (re)making of local socio-economic space. To support such an argument, the three different actions by the local government of Taegu, urban planning and local industrial districts, the establishment of special educational institutions, and textile festival are analyzed. The division of the city's space into residential, commercial, and industrial area by local government constrained the location of local manufacturing industries. It also forced textile industry to move to the outskirts of Taegu. As the education level in South Korea rose after the late 1970s, the local government of Taegu as well as local industrial capitalists had to do something to acquire a stable supply of labor to local manufacturing industries, particularly textile one. After the late 1970s, the special classes for the education of local workers, especially textile ones were established within vocational high school and company-operated high schools were also built in Taegu. Finally, local government started a program of textile festival in 1985. Through textile festival, local government as well as local textile business people tried to reproduce textile industry as the main economic activity of Taegu.

• Journal of the Korean Society of Clothing and Textiles
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• v.31 no.6 s.165
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• pp.837-847
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• 2007

1,098 pieces of photographs($1995{\sim}2002$) of men's suit style have been classified according to fashion images in order to examine features and change aspects with statistical analysis. The findings of examining features of the trend by year with test of homogeneity, correspondence analysis, biplots, correlation analysis and regression analysis are as follows: (a) there are significant differences on fashion images as the trend by yew with test of homogeneity, (b) there are remarkable differences on the fashion trend by year with correspondence analysis and biplots. (c) There are significant correlations for appearance among fashion images by its frequency through correlation analysis, and (d) it is assumed that fashion images are going to be gradually outstanding according to regression analysis.

• 한국해양학회지
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• v.27 no.3
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• pp.210-227
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• 1992

KODOS-89 area, the northwestern part of Clarion-Clarion-Clipperton fracture zones in the Northeast Pacific, was surveyed in order to study the occurrence and distribution of manganese nodules. Variations in the nodule characteristics are related mainly to seafloor topography. Nodules from abyssal plain have high Mn/Fe ratio and high Mn, Cu, Ni and Zn concentrations, whereas those from seamount are characterized by low Mn/Fe ratio and high Fe and Co concentrations. These compositional characteristics are attributed to toxic diagnosis and hydrogenesis, respectively. Nodules of the early diegenetic origin tend to accurate crystalline Mn-oxides uniformly within the topmost sediment layers and maintain a regular spheroidal, ellipsoidal to discoidal shape with rough surface textures. On the other hand, those of hydrogenetic origin are characterized by polynucleation, irregualr shape, and smooth surface textures. Nodule abundance is high (avg. 13.4 kg/m$^2$) in seamount area, resulting from ample supply of nucleating materials by auto-fragmentation of older nodules. Nodule abundance in abyssal plain is relatively low (avg. 3.9 kg/m$^2$) and tends to increase southward. This phenomenon results from facilitation of taking seed materials from adjacent seamount and enhancement of the early diagenesis by sufficient supply of organic materials. Nodule abundance is considered to be controlled primarily by seeding effects and secondly by supplies of organic materials.

• Knowledge Management Research
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• v.22 no.3
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• pp.273-293
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• 2021

Due to the COVID-19 pandemic, the size of the e-commerce has been increased rapidly. This pandemic, which made contact-less communication culture in everyday life made the e-commerce market to be opened even to the consumers who would hesitate to purchase and pay by electronic device without any personal contacts and seeing or touching the real products. Consumers who have experienced the easy access and convenience of the online purchase would continue to take those advantages even after the pandemic. During this time of transformation, however, the size of information source for the consumers has become even shrunk into a flat screen and limited to visual only. To provide differentiated and competitive information on products, companies are adopting AR/VR and steaming technologies but the reviews from the honest users need to be recognized as important in that it is regarded as strong as the well refined product information provided by marketing professionals of the company and companies may obtain useful insight for product development, marketing and sales strategies. Then from the consumer's point of view, if the ratings of reviews are widely diverged how consumers would process the review information before purchase? Are non-converged ratings always unreliable and worthless? In this study, we analyzed how consumer's regulatory focus moderate the attitude to process the diverged information. This experiment was designed as a 2x2 factorial study to see how the variance of product review ratings (high vs. low) for cosmetics affects product attitudes by the consumers' regulatory focus (prevention focus vs. improvement focus). As a result of the study, it was found that prevention-focused consumers showed high product attitude when the review variance was low, whereas promotion-focused consumers showed high product attitude when the review variance was high. With such a study, this thesis can explain that even if a product with exactly the same average rating, the converged or diverged review can be interpreted differently by customer's regulatory focus. This paper has a theoretical contribution to elucidate the mechanism of consumer's information process when the information is not converged. In practice, as reviews and sales records of each product are accumulated, as an one of applied knowledge management types with big data, companies may develop and provide even reinforced customer experience by providing personalized and optimized products and review information.