• International Commerce and Information Review
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• v.13 no.4
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• pp.229-249
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• 2011

The exchange rate change has been increased since the time when the floating exchange rate system was introduced in Korea. As a result, the increase of the exchange rate changes raised the risk in international trades in Korea. Also after Bretton Woods System broke down, the increasing exchange rate fluctuation raised the risk in international trade. The purpose of this dissertation is to study whether this incomplete pass-through exists in Korean export industry and furthermore to measure the markup rate of the export price using real data since Global Financial Crisis. The estimation results of the export price determination model by Error Correction Model shows that the export price of Korea has been greatly influenced by the export prices and exchange rates against U.S. Dollar of rival countries, domestic producer price as well as the Korean Won-U.S. Dollar exchange rate and also business coincidence index of U.S. in demand. Particularly, the pass-through rate of Korean Won-U.S. Dollar exchange rate to export price is estimated to be incomplete, which contrasts with the propositions of traditional exchange rate determination approach, e. g. elasticity approach, monetary approach, etc.

• Journal of The Korean Society of Grassland and Forage Science
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• v.12 no.2
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• pp.111-122
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• 1992

This experiment was conducted to determine the effects of spring seeding dates on the growth, yield and quality of early and late maturing spring oat (Auena sativa L.) cultivars on the forage experimental field, College of Agriculture, Seoul National University, Suwon from March to June, 1991. The experiment was arranged as a split plot with three replications. Oat cultivars, Cayuse and Speed oat, were the main plots, and seeding dates consisted of March 15, 22, 29, April 5 and 12 were the subplots. 1. A 7-day delay in seeding represents approximately 3~8 days being early in heading. The heading date of the early maturing cultivar, Speed oat, was 14 days earlier than that of the late maturing cultivar, Cayuse. 2. The concentrations of Crude protein (CP), Acid detergent fiber (ADF), Neutral detergent fiber (NDF) and zn uitro dry matter digestibility (IVDMD) of the late maturing cultivar, Cayuse, harvested May 29 were 19.6, 30.0, 44.9, and 82.7 %, respectively, but those of the early maturing cultivar, Speed oat, were 14.8. 33.3. 52.3, and 71.2 %, respectively. Chemical analyses of oat forage indicated that the contents of crude protein and lVDMD were increased from March 15 to April 12 seeding, while crude fiber was decreased. 3. Theaverage dry matter, IVDDM and CP yields of oats harvested May 29 were 2,960, 2,435 and 572 kg per ha, respectively with the late maturing cultivar. Cayuse. while the early maturing cultivar, Speed oat, recorded 3,255, 2.298 and 475 kg per ha, respectively. No significant dry matter yield differences were found among the different seeding dates of March 15, 22 and 29 for the two oat cultivars. but a significant yield decrease was found from April 5 seeding. No interactions in dry matter yield were observed between oat cultivars and seeding dates. 4. Maximum Leaf area index (LAI) and Leaf area index duration (LAID) were observed with earlier seeding and the LA1 of Cayuse cultivar was twice or three times as much as that of Speed oat cult~var as the growth progresses. 5. As the seeding date was earlier. the Crop growth rate (CGR) of the late maturing cultivar, Cayuse. was increased continuously. but that of the early maturing cultivar, Speed oat, was declined after May 29. This trend was also found on the Net assimilation rate (NAR) of Speed oat cultivar. The present experiment indicates that spring oats can be successfully produced as forages by seeding in March with early maturing cultivars.

• Journal of The Korean Society of Grassland and Forage Science
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• v.39 no.2
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• pp.97-104
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• 2019

This experiment was conducted to investigate the effect of whole crop rice (WCR) based TMR on growth performance and carcass characteristics of Hanwoo steers. WCR "Yeongwoo"was harvested at yellow ripen stage and ensiled for 60 days. The crude protein (CP), acid detergent fiber (ADF), neutral detergent fiber (NDF), in vitro dry matter digestibility (IVDMD) and total digestible nutrient (TDN) content was 8.4 %, 28.0 %, 53.8 %, 72.4 % and 66.8 %, respectively. For silage quality, pH was 4.37 and lactic and butyric acid content were 2.84 and 0.04 % in DM. Sixteen Hanwoo steers (8-mon-old) were allocated into either a control (commercial TMR) and WCR-TMR (WCR-based TMR) group. The TMR were fed according to the feeding stage phase: growing (Initiate~14 month), early fattening (15 month~21 month) and late fattening (22 month~30 month). The body weight of control group increased (P<0.05) until early fattening stage, but late growing stage of WCR-TMR group was higher than that of control (P<0.05). Average daily gain (ADG) was significantly greater (P<0.05) in WCR-TMR group (total 0.78 kg/head) compared to control (total 0.66 kg/head) except for late fattening stage. The marketing weight and carcass weight were higher in WCR-TMR group (726 vs 765 kg; 417.8 vs 450.4 kg). The back fat thickness (11.75 vs 13.00 mm), Longissimus dorsi area (88.00 vs $89.88cm^2$) and yield index (65.87 vs 64.30) were not different between the two groups (P>0.05) and also no difference in meat yield grade (A : B : C = 2 : 4 : 2). Marbling score (4.00 vs 4.13), meat color (4.75 vs 4.75), fat color (3.13 vs 2.88), texture (1.25 vs 1.50) and maturity (2.00 vs 2.00) were not significant difference between the two groups and meat quality grade ($1^{{+}{+}}:1^+:1:2:3=0:2:4:2:0$) was also not different. In conclusion, TMR feeding based on WCR silage showed superiority in carcass yield and ADG compared to control TMR. It is considered that the use of WCR for feed is a necessary option for the substitution of the imported forages and the government's policy for rice production adjustment.

• Journal of Animal Science and Technology
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• v.45 no.1
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• pp.69-78
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• 2003

This experiment was carried out to evaluate the value of total mixed fermentation feeds(TMFF) as completely mixed ration and to observe the effect of various kinds of TMFF on the palatability, feed intake, and milk performance in Holstein cows. The dry matter (DM) content of TMFF used in the experiment was 23.98-28.42% range, and CP, TDN, ADF and NDF were 16.2${\sim}$19.2%, 58.3-65.1%, 34.4-39.6% and 46.9${\sim}$49.9% levels, respectively. The relative feed value (RFV) in rape-, alfalfa-, grass-, oat-, corn-TMFF groups were 138.6, 133.9, 116.5, 111.8, 111.4 and 108.1, respectively. Among these groups, RFV of rye-TMFF group was lowest. Dry matter disappearance(DMD) showed 0.8${\sim}$.9% to the all kinds of TMFF groups. The pH was 3.89${\sim}$.87 and $NH_3$-N concentration was 6.93-8.66 mg/$d\ell$. The acetic acid concentration in the raw material of TMFF showed low level of 0.19${\sim}$0.57%, lactic acid showed high level of 1.17${\sim}$3.21% and butyric acid was very high as 0.03${\sim}$0.32%. Therefore, these results provide evidence that the quality of TMFF was not so bad. In the daily fresh matter intake on the alfalfa-, grass-, rape-, corn-, oats- and rye-TMFF were showed 62.85, 60.48, 58.04, 57.11, 54.61 and 45.74 kg respectively. All TMFF showed high palatability as daily dry matter intake of 1.95 to 2.90% by body weight of experimental cows. Body condition score(BCS) was gradually increased in during 60 days of the experiment term. Average daily gain(ADG) showed about 140.0${\sim}$326.7g. In alfalfa-TMFF group, the ADG was higher than in the other groups (p<0.05). Also, the increase in BCS was observed in grass-TMFF group (3.07 to 3.34) and rye-TMFF group was decreased in 3.07 to 3.34 (p<0.05). The milk yield appropriately showed a range of 16.16${\sim}$18.95 kg in all groups. Among these groups, alfalfa-TMFF group was highest(P<0.05). Average milk fat contents showed high levels of 4.06${\sim}$4.79% and the level was high in order of rape-, grass-, corn-, alfalfa-, rye- and oats-TMFF. Milk protein was highest in forage-TMFF and level of lactose in milk was approximately 4.56% in overall groups. Solid non fat(SNF) and total solid(TS) contents were 8.75% and 12.8%, respectively. However, milk composition was not significantly affected by TMFF.

• Journal of The Korean Society of Grassland and Forage Science
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• v.28 no.2
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• pp.107-118
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• 2008

This study was carried out to investigate the effects of dietary supplementation of spent mushroom substrates on eating time, ruminating and resting time of growing Hanwoo. A total of eighteen growing Hanwoo $(357.0{\pm}2.9kg)$ were allocated into three feeding groups and assigned to three dietary treatments: Control (C : concentrate + rice straw; 5.32 kg + intake of free), T1 (concentrate + spent mushroom substrates + rice straw; 5.32 kg +0.82 kg + intake of free) and T2 (concentrate + spent mushroom substrates + rice straw; 5.32 kg + 1.64 kg + intake of free). Intake of rice straw was the highest at C (2.66 kg), while T2 (2.03 kg) was the lowest. But total intake and NDF intake were highly in order of T2 > T1 > C (p<0.05). Eating time was similar in C and T1 with 289.3 and 290.5 minutes, and that in T1 was the shortest with 236.0 minutes (p<0.05). When spent mushroom substrates were increased by 0 (0.0 kg), 15 (0.82 kg) and 30% (1.64 kg) of concentrate, chewing time was decreased linearly from 451.0 and 402.3 to 359.5 minutes (p<0.05), which was due to the particle size of very small feed. Number of bolus, number of chews, number of chews/bolus and FVI (chewing time/intake of feed 1kg) showed the highest to all in C. But ruminating time per bolus was the longest in T2 (69.4 min.), and number of bolus per minute was the highest at T1 (1.07 no.) Eating rate, ruminating efficiency and chewing efficiency were significantly higher (p<0.05) in T1 and T2 than in C, which was due to increased feed intake and the small particle size of spent mushroom substrates. When fed with concentrate, Hanwoo group did united behavior in the all treatment (C, T1 and T2). But group behavior in ruminating and resting was hardly influenced by feeding levels of roughage. Consequently, spent mushroom substrates could be used up to from 15 to 30% in growing Hanwoo roughage source without any harmful effect on eating behavior.