• Korea Trade Review
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• v.43 no.3
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• pp.1-26
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• 2018

This study estimates the technical efficiency and total factor productivity(TFP) of and analyzes the relationship between TFP and exports for Korean manufacturing companies from 2000 to 2016. Specially, TFP is decomposed into Technical Change(TC), Technical Efficiency Change (TEC), and Sale Effect(SE), and compared between large and small enterprises. First, in the case of technical efficiency, the Korean economy has been very vulnerable to external shocks, such as the sharp decline following the 2008 financial crisis. The efficiency of the electronics, automobile, and machinery sectors is low and needs to be improved. In addition, the technological efficiency of large enterprises is higher than that of SMEs in most manufacturing sub-sectors except for non-ferrous metals. In the case of TFP, most changes are due to TC, and the effective combination of labor, capital and the effect of scale have little effect, suggesting that improvement of internal structure is urgent. In addition, volatility due to the impact of the financial crisis in 2008 was much larger in SMEs than in large companies, so external economic impacts are more greater for SMEs than large enterprises. The relationship between TFP decomposition factors and exports shows that TC has a positive effect only on exports of SMEs. Therefore, in order to increase exports, in the case of SMEs, R&D support to promote technological development is needed. In the case of large companies, it is necessary to establish differentiated strategies for each export market, competitor company, and item to link efficiency and scale effect of exports.

• Economic Analysis
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• v.25 no.4
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• pp.58-108
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• 2019

This paper analyzes the determining factors in the unemployment rate among young people in their 20s by studying data from 30 OECD countries between 2000 and 2017. It identifies reasons why Korea has a higher youth unemployment rate than Japan, and assesses what implications Japan's youth unemployment measures could have on Korea. The study highlights the variables that have meaningful impacts on youth unemployment. They include the unemployment rate among the working-age population, the percentage of each age bracket in the overall population, the GDP growth rate, the percentage of wage laborers in each age group, the percentage of elderly people, and the percentage of part-time workers. This paper also finds that a decline in the youth population, especially among people in their 20s, does not help to address the issue of youth unemployment. Secondly, this paper explains the additional factors behind Korea's higher youth unemployment rates. One is Korea's disadvantageous employment environment, compared to that in Japan, in terms of wage earnings. Other factors include the existence of fewer decent corporate jobs than in Japan, and wide disparities in wages between large and small corporate jobs. Therefore, while making efforts to resolve long-term and structural problems, it is necessary to actively promote policy measures to solve short-term mismatch problems of youth employment by referring to Japanese policy examples.

• Economic Analysis
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• v.25 no.4
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• pp.1-24
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• 2019

This study examines the labor market performance of graduates who had student loans. Compared to earlier studies, we extended analyses to all jobs that were experienced for more than 18 months after graduation. First, we found that students who had student loans earned 2.81% less at their first job compared to their counterparts without student loans. Second, the wage gap decreased over time, a reduction of 0.66%p due to labor market turnovers. Third, when we compared cumulated labor income, however, the amount for borrowers were continuously higher. This is because the job searching period of a borrower was shorter, despite relatively lower wages at the first job, and borrowers also made more frequent job turnovers, accompanying relatively more wage increases. These results suggest that the negative effects of college loans on earnings, reported in previous studies, may have exaggerated the negative impact to some extent of having loans. However, when we look at the quality of jobs beyond simply wages, the proportion of borrowers working at large companies as regular workers was consistently low. Given that job conditions at the earlier stages of one's career may lead to gaps over time, our findings call for more systematic investigations into the effects that student loans have on long-term labor performance.

• Asia Marketing Journal
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• v.15 no.2
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• pp.75-97
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• 2013

While good return policies are suggested as one of the critical services for e-commerce, ambivalence between the burden of the cost and shoppers' satisfaction may prevent e-tailers from increasing their level of leniency. Based on the S-O-R model, this study has attempted to develop a grounded theory to explain how lenient return policies shape online shoppers' perceptions and responses, with a focus on cultural influences in the relationship. In order to check the cultural effects of the lenient return policy, thirty two female and eleven male undergraduate students in South Korean shoppers, who are accustomed to strict return policies, participated in the semi-structured interview. A series of open-ended questions were designed to explore consumers' reactions toward four different levels of the lenient return policy: from the strict type in South Korea to the lenient type in the U.S. Using qualitative research methods, this research has defined three types of dimensions of lenient return policy: return possible period, complexity of progress, and other restrictions. While previous researchers did not pay much attention, the last dimension, other restrictions, is shown to be the most significant in influencing online shoppers' perceptions, especially in South Korea. Also, the impacts on online shoppers' perceptions from the three types of sub-dimensions of return policy were somewhat different. Whereas a longer return possible period was considered more favorable, a medium level of complexity and restrictions were considered more desirable. In summary, this result showed that shoppers in Eastern cultures, i.e. South Korean online shoppers, seem favorable to a medium level of lenient return policies, while allowing for taking precautions against possible fraudulent behaviors and setting other restrictions. Therefore, most of retailers in South Korea recommended that e-tailers who adopt the most lenient return policies raise the bar to guard ethical shoppers from fraudulent users. Next, lenient return policies can enhance ease of use, usefulness, affect, and trust while relieving perceived risk, which is connected to intention to purchase, satisfaction, and loyalty. Interestingly, lenient return policies are more likely to change the behavioral responses of online shoppers, such as return and purchase, rather than change their attitudes or beliefs such as image, satisfaction, and loyalty. This tendency can be seen more clearly in the direct influences of return policy on responses. The reaction to lenient return policy is mostly the intention to return or to purchase. This suggests that return policy serves the e-tailers as a powerful tool in increasing online shoppers' purchase intention at the moment of purchase. Therefore, e-tailers who plan to expand their market to eastern countries, including South Korea, have to build a shield of restrictions around their lenient return policy, rather than immediately applying their original liberalized return policy. Also, e-tailers in South Korea need to review their strict and undifferentiated return policies to deal with the unsatisfied reactions of online shoppers toward their normal return policies. Although the present study was confined to the return policies currently being practiced by popular e-tailers, it would be worthwhile to develop effective return policies separately for each country, especially South Korea, keeping the culture of the relevant country in mind.

• Korean Journal of Environmental Biology
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• v.41 no.4
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• pp.370-385
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• 2023

Cyanobacterial harmful algal blooms (Cyano-HABs) are an international environmental problem that negatively affects the ecosystem as well as the safety of water resources by discharging cyanotoxins. In particular, the discharge of microcystins (MCs), a highly toxic substance, has been studied most actively, and various water treatment methods have been proposed for this purpose. In this paper, we reviewed adsorption technology, which is recognized as the most feasible, economical, and efficient method among suggested treatment methods for removing MCs. Activated carbons (AC) are widely used adsorbents for MCs removal, and excellent MCs adsorption performance has been reported. Research on alternative adsorption materials for AC such as biochar and biosorbents has been conducted, however, their performance was lower compared to activated carbon. The impacts of adsorbent properties(characteristics of pore surface chemistry) and environmental factors (solution pH, temperature, natural organic matter, and ionic strength) on the MCs adsorption performance were also discussed. In addition, toward effective control of MCs, the possibility of the direct removal of harmful cyanobacteria as well as the removal of dissolved MCs using adsorption strategy was examined. However, to fully utilize the adsorption for the removal of MCs, the application and optimization under actual environmental conditions are still required, thereby meeting the environmental and economic standards. From this study, crucial insights could be provided for the development and selection of effective adsorbent and subsequent adsorption processes for the removal of MCs from water resources.

• KDI Journal of Economic Policy
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• v.14 no.1
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• pp.147-165
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• 1992

This paper analyzes the macroeconomic effects of elections on the Korean economy and their future ramifications. It measures the shocks to the Korean economy caused by elections by taking the average of sample forecast errors from four major elections held in the 1980s. The seven variables' Bayesian Vector Autoregression Model which includes the Monetary Base, Industrial Production, Consumption, Consumer Price, Exports, and Investment is based on the quarterly time series data starting from 1970 and is updated every quarter before forecasts are made for the next quarter. Because of this updating of coefficients, which reflects in part the rapid structural changes of the Korean economy, this study can capture the shock effect of elections, which is not possible when using election dummies with a fixed coefficient model. In past elections, especially the elections held in the 1980s, $M_2$ did not show any particular movement, but the currency and base money increased during the quarter of the election was held and the increment was partly recalled in the next quarter. The liquidity of interest rates as measured by corporate bond yields fell during the quarter the election and then rose in the following quarter, which is somewhat contrary to the general concern that interest rates will increase during election periods. Manufacturing employment fell in the quarter of the election because workers turned into campaigners. This decline in employment combined with voting holiday produce a sizeable decline in industrial production during the quarter in which elections are held, but production catches up in the next quarter and sometimes more than offsets the disruption caused during the election quarter. The major shocks to price occur in the previous quarter, reflecting the expectational effect and the relaxation of government price control before the election when we simulate the impulse responses of the VAR model, imposing the same shocks that was measured in the past elections for each election to be held in 1992 and assuming that the elections in 1992 will affect the economy in the same manner as in the 1980s elections, 1992 is expected to see a sizeable increase in monetary base due to election and prices increase pressure will be amplified substantially. On the other hand, the consumption increase due to election is expected to be relatively small and the production will not decrease. Despite increased liquidity, a large portion of liquidity in circulation being used as election funds will distort the flow of funds and aggravate the fund shortage causing investments in plant and equipment and construction activities to stagnate. These effects will be greatly amplified if elections for the head of local government are going to be held this year. If mayoral and gubernatorial elections are held after National Assembly elections, their effect on prices and investment will be approximately double what they normally will have been have only congressional and presidential elections been held. Even when mayoral and gubernatorial elections are held at the same time as congressional elections, the elections of local government heads are shown to add substantial effects to the economy for the year. The above results are based on the assumption that this year's elections will shock the economy in the same manner as in past elections. However, elections in consecutive quarters do not give the economy a chance to pause and recuperate from past elections. This year's elections may have greater effects on prices and production than shown in the model's simulations because campaigners' return to industry may be delayed. Therefore, we may not see a rapid recall of money after elections. In view of the surge in the monetary base and price escalation in the periods before and after elections, economic management in 1992 should place its first priority on controlling the monetary aggregate, in particular, stabilizing the growth of the monetary base.

• Economic and Environmental Geology
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• v.40 no.4
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• pp.347-360
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• 2007

In order to evaluate the degree and extent of heavy metal pollution and the environmental impacts of abandoned Cu mines in Goseong-gun, soils and paddies were collected from the mine area and have been analysed for heavy metal contents. The heavy metal contents were much higher in mountain soils than in paddy soils. Total content of heavy metals decreased in order of Cu>Zn>Pb>As>Cr>Cd in mountain soils whereas Zn>Pb>Cu>Cr>As>Cd in paddy soils. The extractable amount of heavy metals by 0.1/1N HCl decreased in order of Cu>Pb>Zn>As>Cd>Cr in mountain soils whereas Pb>Cu>Zn>As>Cd>Cr in paddy soils. Although the extraction ratios were highly various depending on the sampling site, their average values were in order of Cd(16%)>Pb(10%)>Cu(9%)>As(4.5%)>Zn-Cr(${\le}2.5%$). The soils investigated were enriched in heavy metals relative to the averages of earth crust as In order of $As{\ge}Cd$>Pb>Zn>Cu>Cr. Pollution index calculated from total or extractable heavy metals of soils indicated that the heavy metal pollution was restricted to mountain soils around abandoned Cu mines, especially the Samsan I mine. The metal contents of brown rice showed no significantly contaminated level as follows; As $nd{\sim}0.87mg/kg,\;Cd\;0.02{\sim}0.34mg/kg,\;Cu\;1.01{\sim}6.25mg/kg,\;Mn\;13.4{\sim}43.2mg/kg,\;Pb\;0.09{\sim}2.83mg/kg,\;and\;Zn\;16.5{\sim}79.1mg/kg$. From the extraction and dispersion properties of heavy metal with the soil pH ($4.5{\sim}7.8$), it can be deduced the conclusion that the heavy metal pollution is spreading in the study area mainly by the detrital migration of waste ore and gangue minerals rather than the dissolution and circulation of heavy metal.

• Journal of Labour Economics
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• v.24 no.3
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• pp.13-38
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• 2001

The question about whether a shorter workweek may increase employment has been a serious issue and been furiously debated among collective bargainers. The advocators recommend publicly that a reduction in standard working hours will provide benefits to the unemployed through the provision of new jobs, and also can improve the quality of life workers. The opponents argue that a shorter workweek will increase labor costs and induce firms to reduce their production levels, and consequently cut back their demand for labor. Although the debate is still continuing, considerable has been made toward achieving the goal workweek reduction. The analytical framework of this paper is a Putty-clay-model, in which the short-and long-term impacts of changes in working time on the employment associated with the interrelations of wages, prices, hourly labour productivity, the firm's labor demand, business cycle and economic growth etc. must be analyzed.

• Economic and Environmental Geology
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• v.49 no.5
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• pp.371-380
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• 2016

This study aims to identify the mineraloical and petrographical characteristics of caprock from drilling cores of Pohang basin as a potential $CO_2$ storage site. Experiments and modeling were conducted in order to investigate the geochemical and mineralogical caprock effects of carbon dioxide. A series of autoclave experiments were conducted to simulate the interaction in the $scCO_2$-caprock-brine using a high pressure and temperature cell at $50^{\circ}C$ and 100 bar. Geochemical and mineralogical alterations after 15 days of $scCO_2$-caprock-brine sample reactions were quantitatively examined by XRD, XRF, ICP-OES investigation. Results of mineralogical studies, together with petrographic data of caprock and data on the physicochemical parameters of brine were used for geochemical modeling. Modelling was carried out using the The Geochemist's Workbench 11.0.4 geochemical simulator. Results from XRD analysis for caprock sample showed that major compositional minerals are quartz, plagioclase, and K-feldspar, and muscovite, pyrite, siderite, calcite, kaolinite and montnorillonite were included on a small scale. Results from ICP-OES analysis for brine showed that concentration of $Ca^{2+}$, $Na^+$, $K^+$ and $Mg^{2+}$ increased due to dissolution of plagioclase, K-feldspar and muscovite. Results of modeling for the period of 100 years showed that the recrystallization of kaolinite, dawsonite and beidellite, at the expense of plagioclase and K-feldspar is characteristic. Volumes of newly precipitation minerals and minerals passing into brine were balanced, so the porosity remained nearly unchanged. Experimental and modeling results indicate the interaction between caprock and $scCO_2$ during geologic carbon sequestration can exert significant impacts in brine pH and solubility/stability of minerals.

• Journal of the Korean Geographical Society
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• v.38 no.2
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• pp.184-205
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• 2003

Sustainable Development(SD) is an important concept for the future of the coastal area, and for development of fishing villages. Since 1992 UN Conference on Environment and Development in Rio de Janeiro many governments and local authorities throughout the world have been engaged in preparing and implementing $\ulcorner$Agenda 21$\lrcorner$. Many projects which previously would have been identified as environmental protection are now presented under the banner of sustainable development. Integrated Coastal Management (ICM) is an extension of sustainable development. ICM was presented as a framework for resolution of coastal use conflicts. The aim of the present paper is to assess sustainable development potential of fishing villages in Cheonsu Bay Region according to implementation of ICM. Cheonsu Bay Region was known as one of the productive fishing grounds and Cheonsu Bay Region preserved unique characteristics of traditional fishing villages. But this region is now experiencing many changes through the massive reclamation projects like Seosan A B Project. After a brief overview of concepts and history of SD and ICM, the reclamation process and its impacts on both fishery and fishing communities in Cheonsu Bay Region are discussed. According to their changing environmental and socio-economic characteristics after the reclamation, ca 35 representative coastal villages in this region can be classified into 5 types. Many coastal villages shows diversity in their economic activities, as tourism and recreation function becomes more and more important in this region. In present-day Cheonsu Bay Region, it is possible to differentiate fishing village cooperatives(FVO) with high potential of sustainable fishery development, FVOs with medium potential, FVOs with low potential on the basis of 14 selected indicators.