• Journal of Information Technology Applications and Management
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• v.29 no.2
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• pp.17-25
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• 2022

Although the two types of currencies compete, the possibility of a virtual currency price bubble is diagnosed by assuming an economic model with currencies (won, virtual currency) that are intrinsically worthless. The won is supplied by the central bank to achieve the price stability target, while the supply of virtual currency increases by a fixed number. According to the basic price theory equation, as a simple proposition, cryptocurrency prices form a Martin Gale process [Schilling and Uhlig, 2019, p.20]. Based on the existing theoretical proposition, we applied the variance ratio verification method [Linton and Smetanina, 2016] and a simple technical chart method for empirical analysis. For the purpose of this study, the possibility of a bubble was empirically analyzed by analyzing the price volatility formed in the Korean virtual currency market over the past year, and brief policy implications for this were presented.

• Korean Journal of Human Ecology
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• v.14 no.4
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• pp.593-611
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• 2005

The purpose of this study is to explore the consumption cultural meaning of Community Currency Movement - a substitute currency institution - through an analysis of consumption behaviors and attitudes of Hanbat-LETS participants, who are recognized as the most active among Korea Community Currency Movements. The analytical method adopted in this study is the participation and observation method, along with the Focus Group Interview. Major findings are as follows: Hanbat-LETS participants experienced the following consumption behaviors and attitudes: economical consumption behavior creating the currency value, sustainable consumption behavior, consumption behavior shared with community, consumption behavior free from the need of competition and ownership, satisfaction from offering one's property, equal status and relationship among members, merry and happy attitude toward life. Community Currency Movement implies the consumption cultural meaning as followings: emergence of alienation through the realization of community society, practice of environment-friendly value, activation of region economy, development of one's ability and means of redemption of unemployment, construction of trustworthy society via trust.

• Journal of Digital Convergence
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• v.19 no.12
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• pp.303-309
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• 2021

This study examines the effects of CBDC(Central Bank Digital Currency) on the Korean economy in the digital currency era and discusses the response strategies for CBDC. With the review of the definition and the development status of digital currency, we explore the characteristics and current status of CBDC in Korea as well as the possibility for internationalization of CBDC. The result shows that CBDC can reduce credit risk, improve transaction transparency compared to cash, and increases monetary policy capacity. Meanwhile, the credit and intermediary function of financial institutions may be weakened, and side effects such as financial alienation may occur. Nevertheless, as the issuance of CBDC is an important opportunity to enhance the possibility of internationalization of Korean Won, preemptive measures are required to keep pace with the competition and cooperation with each country toward the digital key currency. We need to accelerate the digital financial environment through Korea's comparative advantage, and develop a strategy to achieve the internationalization of the financial industry and the Korean Won through CBDC issuance. From the early stage of CBDC designing, it is necessary to achieve international agreements through cooperation with other central banks and to develop policies suitable for the transition to digital currency.

• The Journal of the Institute of Internet, Broadcasting and Communication
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• v.23 no.6
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• pp.109-117
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• 2023

Recently, interest in metaverse, which creates new value in the real world, has increased. In order to make it easy to experience such a metaverse, we have developed an experiential metaverse AR game in which users take the lead in exploring the environment and enjoying content based on landmarks. Important features of the metaverse include connectivity with the real world, interactivity, and digital currency. The game seeks to extend daily life through AR and satisfies interaction through real-time chat and team competition. Finally, digital currency is built through a store system. It is implemented as a mobile game and can be accessed at any time if there is a smartphone, increasing accessibility.

• The Journal of Industrial Distribution & Business
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• v.8 no.2
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• pp.5-10
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• 2017

Purpose - The purpose of this paper was to analyze the Chinese government's announcement of the RMB's appreciation on July 1, 2010, and its aim was to ascertain whether the appreciation has affected Chinese export prices by empirically measuring the degree of the exchange rate pass-tough on those prices. Research design, data, and methodology - Using 73 HS trade categories with cross-industry and time-series data, the panel estimation of a fixed-effects model has been applied to measure the degree and stability of any exchange rate pass-through effects. The estimation results show that the export prices of most trade categories were affected by the exchange rate changes. The pass-through effect was generally small, at about -0.485, and statistically significant in most export prices. Results - The empirical results indicate that China would lose its advantage and competitiveness in export if the RMB were appreciated continuously and rapidly because its export goods would no longer operate under strong monopolistic competition. Conclusions - The implications for China's exchange rate policy suggest that it would be better for the RMB to appreciate slowly and gradually rather than radically. It is clear that it would be allow the capital free flow in Chinese overall economic interest to reduce the continuous appreciation pressure on the currency and pave the way for improvements in export distribution competitiveness.

• Korea Trade Review
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• v.48 no.2
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• pp.129-151
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• 2023

This study explores whether market share matters for ERPT and also for the effects of FTA on ERPT among exporting countries in the four major fishery import markets - frozen pollock, frozen mackerel, frozen tuna, and frozen spawn in South Korea. In addition, I investigate whether market share matters for price competition among exporting countries. For this, I estimate the export price equation based on the maximum likelihood method by utilizing data on export price in terms of Korean currency, and the cross rate between South Korea and the exporting countries from 2010:M1 to 2019:M12 for the four major fishery import markets. According to the findings, the market share of exporting countries in the import markets matters for the positive effects of FTA on ERPT; however, it is hard to find the relation between the market share of exporting counties and ERPT. In addition, I find little evidence on the effects of market share on price competition structures among exporting countries. I believe that this study helps domestic fishery producers to understand that ERPT, the effect of FTA on ERPT, and price competition structures among exporting countries would be affected by the market share of each exporting country in the major fishery import markets in South Korea. Also, this study would help domestic fishery producers to think about how to deal with the effects of the change in the exchange rate on fishery markets for each FTA partner according to its market share after FTA is effective.

• Proceedings of the Korean Society of Crop Science Conference
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• 1998.10a
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• pp.336-352
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• 1998

The horticultural seed industry has made great progress in the last fifty years of its history after the independence of this country. The industry has accomplished self-sufficiency in major vegetable seeds and has even gained international competitive edge in certain crop seeds, particularly in hybrid cultivar development. However, the industry is facing a crisis at present coming from excessive competition among the domestic seed companies as well as the foreign currency crisis of the country. Several major seed companies have already been acquired by multinational corporations. Many people in the country as well as agriculturists are concerned about this situation. Although it is true that the industry is undergoing hard times, this crisis can be turned into a chance for making new progress depending on the joint efforts of the groups responsible, i.e., private companies, public institutions, and policy makers. Therefore, we have to turn this crisis into an opportunity for self-reform and progress. We should not be discouraged or give up. We Propose some ideas for the Progress of the seed industry. Public institutions and policy makers should do such things in cooperation as 1) training human resources for future breeders, 2) securing a wide range of genetic resources and improvement of the management system, 3) basic science research including biotechnology, 4) releasing breeding stocks from germplasm enhancement through use of exotic accessions, 5) support for breeding region- or use-specific cultivars, and 6) collection of foreign agricultural information for breeding cultivars for overseas markets. Eventually the responsible group for the final development of commercial cultivars, production, sales and management is private companies. Therefore, private companies also should have to do their best to develop competitive cultivars with a missionary spirit and endeavor for both domestic and overseas markets in cooperation with public institutions. Management based on competition, professionalism and rationalism is also urged. We are going to conclude with optimism that we can make a new vault of progress once the private and public sectors closely cooperate for the development of Korean horticultural seed industry by overcoming this crisis.

• Journal of Environmental Policy
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• v.2 no.1
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• pp.1-29
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• 2003

This paper examines the dynamics of environmental policy development in Korea by reviewing some of the ways on how the policy windows have been opened. There are a lot of theoretical arguments about the major factors influencing policy development or changes. Many scholars have believed that severe pollution accidents or salient environmental episodes might have been the main motivation of environmental policy development. This line of argument seems valid, especially with the water pollution control policy in Korea. Water pollution control programs had rapidly expanded along with the series of water pollution accidents in the tap water sources from the late 1980s to mid-1990s. However, regarding other major env. issues, various other factors have played more important roles in the development of the relevant policies. In case of air pollution control policy international sport events such as, 1986 Asian Games, 1988 Summer Olympics, and 2002 World Cup Competition, have contributed for the development. The municipal solid waste management policy partly owed its development to the introduction of local autonomy system in the mid-1990s. Even the foreign currency crisis occurring in December 1997 helped the policy paradigm shift from rigid supply-oriented to soft demand-oriented approaches. After closely looking at the dynamics of environmental policy development in Korea, this paper tries to identify the logical background of the observed outcomes.

• Journal of the Korean Society of Clothing and Textiles
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• v.32 no.3
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• pp.474-485
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• 2008

The purpose of this study is to examine the determinants and elements to enhance Korean international competitiveness, employing Porter's(1998) Diamond Model. Half of the 500 leading apparel exporters that were members of the Korea Apparel Industry Association in 2003 were selected as the target of this research. From May to June of 2003, survey questionnaires were sent to executives of these 250 companies in person or by telephone, e-mail, or fax. Seventy questionnaires were used for the final data anlysis. The items used were Reliability, Categorical Regression, and Frequency, using SPSS 11.5. The results were as follows: First, as a result of analyzing the influence of international competitiveness in Korean apparel industry, the firm's strategy, structure, and rivalry was the most influential factor. Others were related and supporting industries, government, chance, demand conditions, and factor conditions. Also, the elements that affect Korean international competitiveness were listed as the level of price competition in foreign markets, the level of labor cost, export marketing capacity, and exchange fluctuation. The most important element to improve the international competitiveness of the Korean apparel industry was a demand growth rate of the overseas markets(Demand Conditions), followed by the level of the labor costs(Factor Conditions), the capability of internationalization(Firm Strategy, Structure, and Rivalry), the change of currency(Chance), the quality and management of products(Demand Conditions), the capability of planning products(Firm Strategy, Structure, and Rivalry), free trade from 2005(Chance), and global sourcing strategy(Firm Strategy, Structure, and Rivalry). Korea's main rival country in apparel related and supporting industry factors is China. However, Korea has a higher level of technology development, quality, and price level than China.

• Journal of Industrial Convergence
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• v.14 no.2
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• pp.33-38
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• 2016

The Korean shipbuilding industry, which started in the 1970s with the advance of three shipbuilding companies, has been ranked as the world's largest and most successful model of the heavy and heavy chemical industry in the world since the 1990s, and has become a driving force for Korea's economic growth for several decades, including job creation and trade surplus. The domestic shipbuilding industry has won a lot of orders in favorable market environment, expanded facilities and manpower, built many ships and delivered them to shipowners, earning a lot of foreign currency and creating a 'successful myth.' However, when the global economic crisis broke out in 2008, shipbuilding in Chosun was stagnant and shipbuilding orders sharply decreased.As the facility and manpower increased in the boom period, the economy and the facilities become overcrowded as a result of the crisis, signs of a crisis in 2013 begin to appear. In 2015, three major Korean shipbuilders lost more than 6 trillion won in operating losses. Now, Korea's shipbuilding industry is facing a crisis such as massive insolvency and restructuring. Would not it have been possible to prevent the loss and restructuring of a trillion won if we recognized the recession of the global economy and understood the appropriate timing of technological innovation and prepared countermeasures against the crisis? Therefore, we analyze trends and trends of global shipbuilding industry such as Europe, China, and Japan in the competition structure of the shipbuilding industry and identify the problems of our shipbuilding industry and suggest suggestions.