• International Area Studies Review
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• v.15 no.3
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• pp.349-368
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• 2011

The emergence of new multipolar world economy along with the predominant growth of emerging economies encourages these emerging countries to internationalize their currencies. Currently the discrepancy between qualification and status of international currency is easily observed, and the emerging market currencies are no doubt underestimated considering their share of the world's economic size and trade volume. This paper studies the determinant factors of currency internationalization for five key currencies (US Dollar, Yen, Euro, Pound, and Swiss Franc). The analysis shows economic size, trade volume, and the stability of price and exchange rate are most important. Based on this result, Chinese Yuan is forecast to become a new international currency in the near future. Therefore, Korea needs to preempt the issue of regional economic integration, and even currency integration, by taking into account the possibility of internationalized Yuan.

• Korean Journal of Agricultural Science
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• v.50 no.3
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• pp.539-549
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• 2023

Domestic processed food exports might increase due to the free trade agreement (FTA) and spread of the Korean Wave, Hallyu. However, the share of the domestic raw materials in the domestic processed food industry is very low at 31.4%, which limits the spillover effect on domestic agriculture. Therefore, we selected frozen dumplings as a representative processed food whose exports are growing rapidly and conducted a multiple regression analysis to examine the effects of Hallyu and FTA variables on the frozen dumpling exports. We tried to link them to an increase in agricultural income through the expansion of demand for the domestic raw materials. This study analyzed tariff indicator as the FTA variable, cosmetics export value indicator as the Hallyu Wave variable, and other variables expected to change the trade environment such as gross domestic product (GDP) and the relative exchange rate by country as the key explanatory variables that affect changes in the trade environment. The analysis showed that the core hypothesis, the Hallyu variable and the FTA variable, have a positive impact on frozen dumpling exports. Frozen dumpling exports are expected to increase as the FTAs and the spread of Hallyu are expected to continue for the foreseeable future. Therefore, we should seek ways to increase the proportion of domestically produced ingredients in the frozen dumplings to spread the economic impact to domestic agriculture. We reviewed previous studies and determined, the price-related factors play a major role in the use of imported ingredients, and that price stability and competitiveness are essential to increase the share of the domestically produced ingredients. Based on these conclusions, we reviewed the current status of food industry-related policies and determined measures needed to expand the use of domestically produced ingredients.

• Korean Chemical Engineering Research
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• v.54 no.1
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• pp.11-15
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• 2016

Proton Exchange Membrane Fuel Cells (PEMFC) instead of batteries is appropriate for long time flight of unmanned aero vehicles (UAV). In this work, $NaBH_4$ hydrolysis system supplying hydrogen to PEMFC was studied. In order to decrease weight of $NaBH_4$ hydrolysis system, enhancement of hydrogen yield, recovery of condensing water and maintenance of stable hydrogen yield were studied. The hydrogen yield of 3.4% was increased by controlling of hydrogen pressure in hydrolysis reactor. Condensing water formed during air cooling of hydrogen was recovered into storage tank of $NaBH_4$ solution. In this process the condensing water dissolved $NaBH_4$ powder and then addition of $NaBH_4$ solution decreased system weight of 14%. $NaBH_4$ hydrolysis system was stably operated with hydrogen yield of 96% by 2.0g Co-P-B catalyst for 10 hours at 2.0L/min hydrogen evolution rate.

• Journal of Nuclear Fuel Cycle and Waste Technology(JNFCWT)
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• v.5 no.3
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• pp.221-227
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• 2007

Fenton's reagent is applied to directly decompose the ion-exchange resins, IRN-78 and the mixed resin with IRN-77. The newly applied procedures is to dry the resin first and the catalyst solution is completely absorbed into the resin, then a limited dose of $H_2O_2$ is introduced for an effective reaction between the reagents within the resin. As a characteristic on the decomposition of IRN-78, the resin mixture should be heated to $40^{\circ}C$ to induce the initial reaction and lag time is also needed for about 20 minutes until the main reaction occurs. The effectiveness of the decomposition is investigated using $CuSO_4,\;Cu(NO_3)_2\;and\;FeSO_4$ as a catalyst and the decomposition rate is compared depending on the concentration of each catalyst and the amount of $H_2O_2$. The most effective catalyst was found to be $FeSO_4$ for IRN-78 alone and the mixed resin with IRN-77, and $FeSO_4$ showed a special effect that the reaction was initiated without heating and a lag time. Furthermore, the optimum concentration of the catalyst for each resin and the mixed one is suggested in the view point of the amount of $H_2O_2$ needed and the stability of the decomposition reaction.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.9 no.3
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• pp.129-138
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• 2014

After global economic crisis, China has become one of the two pillars in the global economies and the country contributing to the Korean economy. Nevertheless, the research on Chinese financial market, particularly capital market, is rare to date. This study examined the growth enterprise market that emergedat the Shenzhen stock exchange and made comparative analysis on before and after listing for the Chinese small and medium sized firms and venture firms. The listing requirements at the Chinese growth enterprise market for the technologically innovative venture firms and fast-growing small and medium sized firms with financing purpose were more alleviated than the main board of Shenzhen stock exchange. Moreover, the listing procedures are simplified as well. Accordingly, many Chinese enterprises tend to list and the competition for listing is also intense. In particular, with the 36 initially listed firms at growth enterprise market as the research target, the investigation for the business performance before and after listing reveals that the three indexes including return on common equity, debt ratio and operating profit growth rate dropped dramatically for most all the firms. That is, the profitability and growth for the venture firms and small and medium sized firms listed on the Chinese growth enterprise market decreased rapidly after going public, only the stability improved due to the great financing. Taking a step forward, this phenomenon may result from the exaggerated reporting for the business performance before listing with the purpose of going public by the venture firms and small and medium sized firms. Thus, Chinese Securities Regulatory Commission should strengthen the accounting evaluation standard and regulation for the listing firms before going public. In addition, strict sanctions should be imposed on the firms with fraudulent accounting to establish healthy capital market.

• 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.

• Korean Journal of Agricultural and Forest Meteorology
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• v.17 no.3
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• pp.227-235
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• 2015

Using eddy covariance method, net ecosystem exchange (NEE) of $CO_2$ ($F_{CO_2}$), $H_2O$ (LE), and sensible heat (H) can be approximated as the sum of eddy flux ($F_c$) and storage flux term ($F_s$). Depending on strength and distribution of sink/source of scalars and magnitude of vertical turbulence mixing, the rates of changes in scalars are different with height. In order to calculate $F_s$ accurately, the differences should be considered using scalar profile measurement. However, most of flux sites for agricultural lands in Asia do not operate profile system and estimate $F_s$ using single-level scalars from eddy covariance system under the assumption that the rates of changes in scalars are constant regardless of the height. In this study, we measured $F_c$ and $F_s$ of $CO_2$, $H_2O$, and air temperature ($T_a$) using eddy covariance and profile system (i.e., the multi-level measurement system in scalars from eddy covariance measurement height to the land surface) at the Chengmicheon farmland site in Korea (CFK) in order to quantify the differences between $F_s$ calculated by single-level measurements ($F_s_{-single}$ i.e., $F_s$ from scalars measured by profile system only at eddy covariance system measurement height) and $F_s$ calculated by profile measurements and verify the errors of NEE caused by $F_s_{-single}$. The rate of change in $CO_2$, $H_2O$, and Ta were varied with height depending on the magnitudes and distribution of sink and source and the stability in the atmospheric boundary layer. Thus, $F_s_{-single}$ underestimated or overestimated $F_s$ (especially 21% underestimation in $F_s$ of $CO_2$ around sunrise and sunset (0430-0800 h and 1630-2000 h)). For $F_{CO_2}$, the errors in $F_s_{-single}$ generated 3% and 2% underestimation of $F_{CO_2}$ during nighttime (2030-0400 h) and around sunrise and sunset, respectively. In the process of nighttime correction and partitioning of $F_{CO_2}$, these differences would cause an underestimation in carbon balance at the rice paddy. In contrast, there were little differences at the errors in LE and H caused by the error in $F_s_{-single}$, irrespective of time.

• The Korean Journal of Applied Statistics
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• v.23 no.1
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• pp.63-71
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• 2010

Business entrepreneurs reflect their views of domestic and foreign economic activities on their operation for the growth of their business. The decision, forecasting, and planning based on their economic sentiment affect business operation such as production, investment, and hiring and consequently affect condition of national economy. Business survey index(BSI) is compiled to get the information of business entrepreneurs' economic sentiment for the analysis of business condition. BSI has been used as an important variable in the short-term forecasting models for business cycle analysis, especially during the the period of extreme business fluctuations. Recent financial crisis has arised extreme business fluctuations similar to those caused by currency crisis at the end of 1997, and brought back the importance of BSI as a variable for the economic forecasting. In this paper, the meaning of BSI as an economic sentiment index is reviewed and a GUIDE regression tree is constructed to find out the factors which affect on BSI. The result shows that the variables related to the stability of financial market such as kospi index(Korea composite stock price index) and exchange rate as well as manufacturing operation ratio and consumer goods sales are main factors which affect business entrepreneurs' economic sentiment.

• Korean Journal of Soil Science and Fertilizer
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• v.31 no.2
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• pp.183-188
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• 1998

Changes of chemical and physical properties of the butchery waste compost were assessed when the wastepaper was used as a bulking agent (BP). Temperature of compost, with frequent turnover, was increased up to $83^{\circ}C$ even during the winter. Canon exchange capacity of the compost was increased with composting time, but pH, water content, total carbon, total nitrogen, C/N ratio and salt concentration were decreased to the extents showing a convergency. Heavy metal contents of BP-192 were lower than the standard criteria. Germination rate of cucumber seed, when BP-34 and BP-96 composts were applied more than 15 g, was under 40%, but those of BP-143 and BP-192 were 100%, irrespective of the amounts of compost used. The C/N ratio of the matured compost was 8.6. Results indicated that wastepaper might be employed as a bulking agent for butchery wastes composting.

• The Journal of the Korea Contents Association
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• v.11 no.12
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• pp.60-70
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• 2011

Conventional content management systems are independently developed for a specific field in general. Therefore usage of contents for the CMS will be limited to the corresponding CMS field. These characteristics might reveal a defect that CMS could not support effectively in exchange and sharing of information between CMSs. On the other hand, metadata standardization shows big differences in method and representation for the fields of CMS because all metadata standardizations are variously performed according to applications of them. There are lots differences that make interoperability between CMSs impossible. In this paper, we propose a novel metadata schema based on METS(metadata encoding and transmission standard) so that metadata standardization can be fulfilled in reality and solved the problem of duplicated contents created from different CMSs. This framework of integrated metadata proposed here can offer an interoperability between contents created by different CMSs, and discard duplicated contents. As a result of the proposed technology, we obtain 0.5% duplication rate from traditional 10.3%. In addition the filtering ability of duplicated contents shows from 92% to 96%, which proves the effectiveness and stability of the proposed technology.