• Asia Marketing Journal
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• v.12 no.2
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• pp.111-133
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• 2010

Marketing financial services used to be easier. Today, the competition in financial services is fierce. Not only has the competition become more intense, financial services have also changed structurally. In an environment with various customer needs and severe competitions, the marketing in financial services industry is getting more difficult and more important than before. However, there are still not enough studies on financial services marketing in Korea whereas lots of research papers have been published frequently in some international journals. The purpose of this paper is (1)to review the literature on financial services marketing, (2)to investigate current marketing activities based on in-depth interview with financial marketing managers in Korea, and (3)to suggest some implications for future research on the financial services marketing. Financial products are not consumer products. In fact, they are not products at all in the way product marketing is usually described. Nor are they altogether like services. The financial industry operates in a unique way, and its marketing tasks are correspondingly complex. However, the literature review shows that there has been a lack of basic studies which dealt with inherent characteristics of financial services marketing compared to the research on marketing in other industries. Many studies in domestic marketing journals have so far focused only on the general customer behaviors and the special issues in some financial industries. However, for more effective financial services marketing, we have to answer following questions. Is there any difference between financial service marketing and consumer packaged goods marketing? What are the differences between the financial services marketing and other services marketing such as education and health services? Are there different ways of marketing among banks, securities firms, insurance firms, and credit card companies? In other words, we need more detailed research as well as basic studies about the financial services marketing. For example, we need concrete definitions of financial services marketing, bank marketing, securities firm marketing, and etc. It is also required to compare the characteristics of each marketing within the financial services industry. The products sold in each market have different characteristics such as duration and degree of risk-taking. It means that there are sub-categories in financial services marketing. We have to consider them in the future research on the financial services marketing. It is also necessary to study customer decision making process in the financial markets. There have been little research on how customers search and process information, compare alternatives, make final decision, and repeat their choices. Because financial services have some unique characteristics, we need different understandings in the customer behaviors compared to the behaviors in other service markets. And also considering the rapid growth in financial markets and upcoming severe competition between domestic and global financial companies, it is time to start more systematic and detailed research on financial services marketing in Korea. In the second part of this paper, I analyzed the results of in-depth interview with 20 marketing managers of financial services companies in Korea. As a result, I found that the role of marketing departments in Korean financial companies are mainly focused on the short-term activities such as sales support, promotion, and CRM data analysis although the size and history of marketing departments to some extent show a sign of maturity. Most companies established official marketing departments before 2001. Average number of employees in a marketing department is about 58. However, marketing managers in eight companies(40% of the sample) still think that the purpose of marketing is only to support and manage general sales activities. It shows that some companies have sales-oriented concept rather than marketing-oriented concept. I also found three key words which marketing managers think importantly in financial services markets. They are (1)Trust in customer relationship, (2)Brand differentiation, and (3)Rapid response to customer needs. 50% of the sample support that "Trust" is the most important key word in the financial services marketing. It is interesting that 80% of banks and securities companies think that "Trust" is the most important thing, whereas managers in credit card companies consider "Rapid response to customer needs" as the most important key word in their market. In addition, there are different problems recognition of marketing managers depending on the types of financial industries they belong to. For example, in the case of banks and insurance companies, marketing managers consider "a lack of communication with other departments" as the most serious problem. On the other hand, in the case of securities firms, "a lack of utilization of customer data" is the most serious problem. These results imply that there are different important factors for the customer satisfaction depending on the types of financial industries, and managers have to consider them when marketing financial products in more effective ways. For example, It will be necessary for marketing managers to study different important factors which affect customer satisfaction, repeat purchase, degree of risk-taking, and possibility of cross-selling according to the types of financial industries. I also suggested six hypothetical propositions for the future research.

• Journal of Global Scholars of Marketing Science
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• v.17 no.4
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• pp.247-269
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• 2007

In recent years, one of the major reasons for the fierce competition amongst firms is that they strive to increase their own market shares and customer acquisition rate in the same market with similar and apparently undifferentiated products in terms of quality and perceived benefit. Because of this change in recent marketing environment, the differentiated after-sales service and diversified promotion strategies have become more important to gain competitive advantage. Price promotion is the favorite strategy that most retailers use to achieve short-term sales increase, induce consumer's brand switch, in troduce new product into market, and so forth. However, if marketers apply or copy an identical price promotion strategy without considering the characteristic differences in product and consumer preference, it will cause serious problems because discounted price itself could make people skeptical about product quality, and the changes of perceived value might appear differently depending on other factors such as consumer involvement or brand attitude. Previous studies showed that price promotion would certainly increase sales, and the discounted price compared to regular price would enhance the consumer's perceived values. On the other hand, discounted price itself could make people depreciate or skeptical about product quality, and reduce the consumers' positivity bias because consumers might be unsure whether the current price promotion is the retailer's best price offer. Moreover, we cannot say that discounted price absolutely enhances the consumer's perceived values regardless of product category and purchase situations. That is, the factors that affect consumers' value perceptions and buying behavior are so diverse in reality that the results of studies on the same dependent variable come out differently depending on what variable was used or how experiment conditions were designed. Majority of previous researches on the effect of price-comparison advertising have used consumers' buying behavior as dependent variable. In order to figure out consumers' buying behavior theoretically, analysis of value perceptions which influence buying intentions is needed. In addition, they did not combined the independent variables such as brand loyalty and price discount rate together. For this reason, this paper tried to examine the moderating effect of brand loyalty on relationship between the different levels of discounting rate and buyers' value perception. And we provided with theoretical and managerial implications that marketers need to consider such variables as product attributes, brand loyalty, and consumer involvement at the same time, and then establish a differentiated pricing strategy case by case in order to enhance consumer's perceived values properl. Three research concepts were used in our study and each concept based on past researches was defined. The perceived acquisition value in this study was defined as the perceived net gains associated with the products or services acquired. That is, the perceived acquisition value of the product will be positively influenced by the benefits buyers believe they are getting by acquiring and using the product, and negatively influenced by the money given up to acquire the product. And the perceived transaction value was defined as the perception of psychological satisfaction or pleasure obtained from taking advantage of the financial terms of the price deal. Lastly, the brand loyalty was defined as favorable attitude towards a purchased product. Thus, a consumer loyal to a brand has an emotional attachment to the brand or firm. Repeat purchasers continue to buy the same brand even though they do not have an emotional attachment to it. We assumed that if the degree of brand loyalty is high, the perceived acquisition value and the perceived transaction value will increase when higher discount rate is provided. But we found that there are no significant differences in values between two different discount rates as a result of empirical analysis. It means that price reduction did not affect consumer's brand choice significantly because the perceived sacrifice decreased only a little, and customers are satisfied with product's benefits when brand loyalty is high. From the result, we confirmed that consumers with high degree of brand loyalty to a specific product are less sensitive to price change. Thus, using price promotion strategy to merely expect sale increase is not recommendable. Instead of discounting price, marketers need to strengthen consumers' brand loyalty and maintain the skimming strategy. On the contrary, when the degree of brand loyalty is low, the perceived acquisition value and the perceived transaction value decreased significantly when higher discount rate is provided. Generally brands that are considered inferior might be able to draw attention away from the quality of the product by making consumers focus more on the sacrifice component of price. But considering the fact that consumers with low degree of brand loyalty are known to be unsatisfied with product's benefits and have relatively negative brand attitude, bigger price reduction offered in experiment condition of this paper made consumers depreciate product's quality and benefit more and more, and consumer's psychological perceived sacrifice increased while perceived values decreased accordingly. We infer that, in the case of inferior brand, a drastic price-cut or frequent price promotion may increase consumers' uncertainty about overall components of product. Therefore, it appears that reinforcing the augmented product such as after-sale service, delivery and giving credit which is one of the levels consisting of product would be more effective in reality. This will be better rather than competing with product that holds high brand loyalty by reducing sale price. Although this study tried to examine the moderating effect of brand loyalty on relationship between the different levels of discounting rate and buyers' value perception, there are several limitations. This study was conducted in controlled conditions where the high involvement product and two different levels of discount rate were applied. Given the presence of low involvement product, when both pieces of information are available, it is likely that the results we have reported here may have been different. Thus, this research results explain only the specific situation. Second, the sample selected in this study was university students in their twenties, so we cannot say that the results are firmly effective to all generations. Future research that manipulates the level of discount along with the consumer involvement might lead to a more robust understanding of the effects various discount rate. And, we used a cellular phone as a product stimulus, so it would be very interesting to analyze the result when the product stimulus is an intangible product such as service. It could be also valuable to analyze whether the change of perceived value affects consumers' final buying behavior positively or negatively.

• Journal of dental hygiene science
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• v.11 no.2
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• pp.99-105
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• 2011

In this study a survey was conducted with 431 students at the department of dental hygiene in three regions from April 2010 to investigate various actual states and levels of perception of their major commitment. Department-Climate and levels of major commitment were classified and described through cross-tabulation analysis; multinomial logistic regression analysis was used to predict the level of major commitment perceived for department climate and identify its influence. Major commitment classified into three levels about Inferiority, Normality and Superiority. Recognition factor of Major field was divided into external factor, eternal factor. External factor classified into professor, friends, facilities, administration-service and quality of education. As well as, eternal factor was department climate. Eternal factor consisted of relationship dimensions, goal-orientation dimensions, system maintenance dimensions and system change dimensions. This study was conducted to get a phenomenal understanding of students' learning in the major field and their school life. With this study, if friends and professor raise students at the Department of Dental Hygiene's department-climate recognition, their major-commitment will rise. And high major-commitment will be bring about their professional ability.

• Fire Science and Engineering
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• v.26 no.6
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• pp.99-108
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• 2012

These days, spontaneous ignition phenomena by oxidizing heat frequently occur in the circumstances of processing and storing waste tires. Therefore, to examine the phenomena, in this work, this researcher conducted the tests of fires of fragmented waste tires (shredded tire), closely investigated components of the fire residual materials collected in the processing and storing place, and analyzed the temperature of the starting of the ignition, weight loss, and heat of reaction. For the study, this researcher conducted fire tests with fragmented waste tires in the range of 2.5 mm to 15 mm, whose heat could be easily accumulated, and performed heat analysis through DSC and TGA, DTA, DTG, and GC/MS to give scientific probability to the possibility of spontaneous ignition. According to the tests, at the 48-hour storage, rapid increase in temperature ($178^{\circ}C$), Graphite phenomenon, smoking were observed. And the result from the DTA and DTG analysis showed that at $166.15^{\circ}C$, the minimum weight loss occurred. And, the result from the test on the waste tire analysis material 1 (Unburnt) through DSC and TGA analysis revealed that at $180^{\circ}C$ or so, thermal decomposition started. As a result, the starting temperature of ignition was considered to be $160^{\circ}C$ to $180^{\circ}C$. And, at $305^{\circ}C$, 10 % of the initial weight of the material reduced, and at $416.12^{\circ}C$, 50 % of the intial weight of the material decreased. The result from the test on oxidation and self-reaction through GC/MS and DSC analysis presented that oxidized components like 1,3 cyclopentnadiene were detected a lot. But according to the result from the heat analysis test on standard materials and fragmented waste tires, their heat value was lower than the basis value so that self-reaction was not found. Therefore, to prevent spontaneous ignition by oxidizing heat of waste tires, it is necessary to convert the conventional process into Cryogenic Process that has no or few heat accumulation at the time of fragmentation. And the current storing method in which broken and fragmented materials are stored into large burlap bags (500 kg) should be changed to the method in which they are stored into small burlap bags in order to prevent heat accumulation.

• Quality Improvement in Health Care
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• v.7 no.1
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• pp.118-131
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• 2000

Background : A continuous healthcare quality improvement is needed to provide high quality healthcare service as well as to maintain trust in terms of satisfying the needs of the patients. Recently it also became an essential issue. in hospital management, recognized for it's competitive potentiality among healthcare organization groups. This study was conducted to analyze patient complaints and issues received by the Quality Improvement Department. Its purpose is to improve healthcare qualities within the hospital, as well as establish policies and appropriate strategies in hospital management. Method : From July 1st to September 30th of the year 1999, we analyzed all complaints and issues made by various patients and their families, which were received through 24 hour phone consultation, numerous suggestion boxes, letters and E-mails, The issues were classified into 16 different categories based on a Patient Satisfaction Assessment Tool. All data were segregated according to the departmental frequencies and their contents. To come up with for environmental and patient satisfaction improvement, all complaints or issues were communicated with hospital administrators, medical and nursing staff and employees. Comprehensive customer satisfaction activities including improving phone etiquette were discussed in Customer Satisfaction Team, CQI Team and each Department. All opportunities for improvement were implemented. Feedback actions were discussed. Results : A total of 317 cases were collected. Issues regarding parking and other accommodation facilities were most common complaints that were 14.5% of total. Issues regarding admission rooms (10.7%), admission procedures (10.7%), waiting room environment (8.8%), nurses and nurse assistants (7.6%), physicians (6.6%) and others (23%) followed. Thirteen of 45 departments received more than 8 complaints. The Nursing Department had the most complaint, receiving 9.8% of total complaints. Complaints regarding the Nursing Department were predominantly related to the environment of patient rooms. The Department of Psychiatry for phone etiquette (4.7%), Department of Otolaryngology for the nursing staff's attitude and phone etiquette (4.4%), and the Admission Department followed. As a part of efforts to improve patient satisfaction, a new parking structure was built and reallocation of the parking space was done. Renovation of other accommodation facilities were carried out by hospital administration, Monthly phone call and answering attitude survey was done by QI Department. Based on this survey we made a phone etiquette manual and distributed throughout the hospital. Compare to the last year, Patient Satisfaction Index measured by Korea Productivity Center using National Customer Satisfaction Index was improved 7 points. According to our organization's own study, we confirmed the phone etiquette was improved 11% than last year. Conclusions : Issues related to parking and other accommodation facilities ranked first followed by complaints made regarding the patient care area, the admission and cashier process, and nurses' and doctors' attitude. The Nursing and Psychiatry Departments need improvement regarding phone etiquette. Results were shared and played a vital role in policymaking and strategic planning of the hospital. It is imperative that we keep our database updated by listening to and solving the needs of each patient. The CQI activities can be achieved only by full commitment of the hospital top management supported by related personal.

• Journal of Wetlands Research
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• v.18 no.4
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• pp.386-393
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• 2016

Agricultural ecosystem is recognized as a space for providing a variety of services, in addition to the food production that it originally encompassed, such as water purification, biological habitat, air purification, soil conservation, and landscape development. The construction of greenhouses in agricultural landscapes can cause deterioration of ecosystem services because of the increase of impermeable area and loss of biological habitats. This study aimed to compare insect diversity between different types of constructed greenhouses and paddy ecosystems. The target study area was selected by considering the distribution status of horticultural complexes and was classified as Single Vinyl Greenhouse, Multi Vinyl Greenhouse or Glass Greenhouse and they were compared with four paddies. The study locations were in Gu-Mi, Bu-Yeo, Ginje and Jin-Ju. A total of 2,333 individual insects belonging to 9 orders, 38 families, 76 genus, and 80 species were collected. The composition of orders was Hemiptera (22.37%), Coleoptera (18.42%), Hymenoptera (14.47%), Orthoptera (11.84%), and Diptera (10.53%). The average number of collected species were in the order Paddy (39.38 species) > Single Vinyl Greenhouse (35.50 species) > Multi Vinyl Greenhouse (22.50 species) > Glass Greenhouse (24.00 species). The Diversity Index (H') was Paddy (4.76) > Single Vinyl Greenhouse (4.57) > Multi Vinyl Greenhouse (4.12), and Glass Greenhouse (4.12). The Richness Index (RI) was Paddy (7.72) and Single Vinyl Greenhouse (7.03) > Multi Vinyl Greenhouse (4.99) and Glass Greenhouse (5.32). From our results, it can be seen that the biological diversity features of insects decreased when greenhouses are constructed.However, Single Vinyl Greenhouse is noted to promote insect diversity more than that by Multi Vinyl Greenhouse and Glass Greenhouse. Hence, when constructing greenhouses, it is necessary to consider insect habitat to conserve insect diversity.

• Management & Information Systems Review
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• v.36 no.1
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• pp.59-80
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• 2017

Due to the recent deepening youth unemployment aftereffect, government, companies and universities seek a youth unemployment resolution method and jobs creating measures. But there are indications that the Good Job the university students prefer are limited and sudden rise of the youth unemployment rate mirrors the situation in Japan 20 years ago. Thus, based on the preceding research, this research attempted to perform comparative analysis on Korean and Japanese university students' employment preparation activities and perceived organizational support affect their Awareness of Good Job. To achieve the goal, 2013 GOMS 5,380 copies provided by Korea Employment Information Service are used in the case of Korea and total 5,636 copies within 256 questionnaires targeted to Japanese university students are used in the case of Japan. The results of analysis are as follows. The effect relationship between the perception of organizational support and awareness of Good Job showed a positive influence both in Korea and Japan. The effect relationship between employment preparation activities and awareness of Good Job showed a meaningful effect in Korea whereas it showed no effect in Japan. In the relationship between activities of employment preparation and awareness of Good Job, moderating effect of gender and major field of study didn't show any effect either in Korea or Japan. The results of this research are as follows. First, because it is verified that the support of university has positive influence on the university students' awareness of Good Job, it seems that universities need to intensify the support for the students' welfare enhancement, education satisfaction and the structural support system. Second, the gap of attitude of employment preparation activities and awareness of Good Job between Korea and Japan occurred due to the levels of social structure, welfare and wage differences in the two countries. Therefore, if measures of policy to resolve the welfare and wage gaps between conglomerates and smaller enterprises are enacted, the awareness of younger generations to the Good Job will show a corresponding effect.

• Strategy21
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• s.34
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• pp.58-92
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• 2014

Even after S. Korea took 5.24 Measure(24 May 2014), N. Korea has not stopped raising provocations such as the shelling of Yeonpyeong Island, electronic and cyber attacks. To make matters worse, the communist country lunched long-range missiles(twice) and conducted 3rd nuclear test, escalating tensions which could possibly lead to an all-out war. Korean Government failed to respond properly. However, escalation into an all-out war was deterred by the CFC immediately carrying out its peacetime duty(CODA). The US made a rapid dispatch of its augmentation forces(Aircraft carrier, nuclear-powered submarine, strategic bomber, F-22) to the Korean Peninsula. In recognition of the importance of the Combined Forces Command, since May 2013 the Park Geun-Hye Administration has been pushing ahead with re-postponement of Wartime Operational Control Transfer(which initially meant the disassembling of the CFC as of 1 December 2015) More recently, there has been a series of unusual indicators from the North. Judging from its inventory of 20 nuclear weapons, 1,000 ballistic missiles and biochemical weapons, it is safe to say that N. Korea has gained at least war deterrence against S. Korea. Normally a nation with nuclear weapons shrink its size of conventional forces, but the North is pursuing the opposite, rather increasing them. In addition, there was a change of war plan by N. Korea in 2010, changing 'Conquering the Korean Peninsula' to 'Negotiation after the seizure of the Greater Seoul Metropolitan Area(GSMA)' and establishing detailed plans for wartime projects. The change reflects the chain reaction in which requests from pro-north groups within the South will lead to the proclamation of war. Kim, Jeong-Un, leader of N. Korean regime, sent threatening messages using words such as 'exercising a nuclear preemptive strike right' and 'burning of Seoul'. Nam, Jae-June, Director of National Intelligence Service, stated that Kim, Jung-Un is throwing big talks, saying communization of the entire Korean Peninsula will come within the time frame of 3 years. Kim, Gwan-Jin, Defense Minister, shared an alarming message that there is a high possibility that the North will raise local provocations or a full-fledged war whenever while putting much emphasis on defense posture. As for the response concept of the Korean Government, it has been decided that 'ROK·US Combined Local Provocation Counter-Measure' will be adopted to act against local provocations from the North. Major provocation types include ▲ violation of the Northern Limit Line(NLL) with mobilization of military ships ▲ artillery provocations on Northwestern Islands ▲ low altitude airborne intrusion ▲ rear infiltration of SOF ▲ local conflicts within the Military Demarcation Line(MDL) ▲ attacking friendly ships by submarines. Counter-measures currently established by the US involves the support from USFK and USFJ. In order to keep the sworn promise, the US is reinforcing both USFK and USFJ. An all-out war situation will be met by 'CFC OPLAN5027' and 'Tailored Expansion Deterrence Forces' with the CFC playing a central role. The US augmentation forces stands at 690,000 troops, some 160 ships, 2,000 aircraft and this comprise 50% of US total forces, which is estimated to be ninefold of Korean forces. The CFC needs to be in center in handling both local provocations and an all-out war situation. However, the combat power of S. Korean conventional forces is approximately around 80% of that of N. Korea, which has been confirmed from comments made by Kim, Gwan-Jin, Defense Minister, during an interpellation session at the National Assembly. This means that S. Korean forces are not much growing. In particular, asymmetric capabilities of the North is posing a serious threat to the South including WMD, cyber warfare forces, SOF, forces targeting 5 Northwestern Islands, sub-surface and amphibious assault forces. The presence of such threats urgently requires immediate complementary efforts. For complementary efforts, the Korean Government should consider ① reinforcement of Korean forces; putting a stoppage to shrinking military, acquisition of adequate defense budget, building a missile defense and military leadership structure validity review, ② implementation of military tasks against the North; disciplinary measures on the sinking of ROKS Cheon-an/shelling of Yeonpyeong Islands, arrangement of inter-Korean military agreements, drawing lessons from studies on the correlation between aid for N. Korea, execution of inter-Korean Summit and provocations from the North, and ③ bolstering the ROK·US alliance; disregarding wartime operational control transfer plan(disassembling of CFC) and creation of a combined division.

• Culinary science and hospitality research
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• v.15 no.4
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• pp.1-8
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• 2009

The aim of this study is to investigate the microbial contamination assessment of raw Jinmichae to cook and to establish its control. Three kinds of Korean Jinmichae products(K1, K2, K3) and three kinds of imported Jinmichae products(Chile: F1, Peru: F2, Mexico: F3) were collected from markets and department stores in Seoul and Gyeonggi-do. The results were as follows; Aerobic mesophilic bacteria in raw Jinmichae(F2) was detected $7.20{\times}10^7$ CFU/g, which exceeded the acceptable standard level, $1.0{\times}10^6$ CFU/g. The rest of raw groups fell up to $1.0{\times}10^3{\sim}1.0{\times}10^4$ CFU/g. Aerobic mesophilic bacteria were detected in blanched and fried Jinmichae groups. Boiled Jinmichae group did not exceed the acceptable standard level of $1.0{\times}10^6$ CFU/g. However, all the fried groups exceeded the level. E. coli were detected in raw Jinmichae but it was able to be controlled by blanching. Unlike this, E. coli was not completely controlled by roasting for 20 seconds relative to 40, 60 seconds. S. aureus were effectively controlled by boiling, however, it was not controlled by roasting. After roasting Jinmichae for 60 seconds, S. aureus were detected in the half of all groups. In this study, Jinmichae were found to be favorable one of side dishes in school meal service. Jinmichae can be contaminated by microbial pathogens such as S. aureus, E. coli, etc. Therefore, further studies are needed to monitor microbial pathogens and to provide their control.

• Journal of Plant Biotechnology
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• v.35 no.4
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• pp.245-256
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• 2008

The current legislation in South Korea clearly states that the tolerance threshold on the adventitious presence of GMO in environment-friendly agricultural products is 3.0% and no GM seed should be detected in their planting seed batches. To date, in Korea, there is no approved GM crop for commercial cultivation in field. However, several GM crops including rice, Chinese cabbage, potato and wild turf grass are currently under risk assessment for their environmental release. Also Korean government (Rural Development Administration, RDA) announced that 11 institutes including universities have been currently certified to carry out a risk assessment of GM crops. Meanwhile, the cultivated area and certified quantities of environment-friendly crops (organic, pesticide-free and low-pesticide) are sharply increasing every year according to the report of National Agricultural Products Quality Management Service (NAQS). In detail, in 2007, the certified quantities of environment-friendly agricultural products were elevated up to 100-fold for organic, 171-fold for pesticide-free and 2,324-fold for low-pesticide crops when compared with those in 1999. The total certified quantity of environment-friendly cereal crops in 2007 was equivalent to 6.4% of total production of cereal crops. Moreover, 24% of total production of root and tuber crops such as potato and sweet potato were certified for environment-friendly agricultural products. In these circumstances, I strongly suggest that current legislations on GM crop's safety management should be revised to include strategies for the coexistence of GM with non-GM crops, especially environment-friendly crops before GM crop is approved to be cultivated for commercialization. Since all types of crops are grown in an open environment, the adventitious presence of GM crops among non-GM crops is inevitable if appropriate measures for coexistence are not established for species by species such as isolation distance, workable management measures to minimize admixture.