• KIEE International Transactions on Power Engineering
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• 제5A권2호
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• pp.193-198
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• 2005

This paper proposes a new method to handle transmission line losses using loss distribution factors (LDF) rather than marginal loss factors (MLF) in electricity market operation. Under a competitive electricity market, the bidding data are adjusted to reflect transmission line losses. To date the most proposed approach is using MLFs. The MLFs are reflected to bidding prices and market clearing price during the trading and settlement of the electricity market. In the proposed algorithm, the LDFs are reflected to bidding quantities and actual generations/ loads. Computer simulations on a 9-bus sample system will verify the effectiveness of the algorithm proposed. Moreover, the proposed approach using LDFs does not make any payments residual while the approach using MLFs induces payments residual.

• 경영과정보연구
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• 제26권
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• pp.261-291
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• 2008

The EU holds about 50% of exports and imports in the world trade of services. The insurance markets have undergone a significant consolidation in solvency rule, cross-border registration, and standardized accounts. In the EU-Korea FTA negotiations the EU is interested in mutual certification of qualifications as well as market liberalization of law, finance and distribution and so forth. When the negotiation with respect to the mutual certification of qualifications comes to a settlement, the two countries will drive it in service areas. Korea should examine european certification regulations and improve domestic insurance-related institutions. France is the focal country of the EU. The paper provides a comparative study of insurance markets and agents in France and Korea. The paper argues that Korea should initiate institutional changes and be transformed into an insurance service exporting country for the specialized insurance agents to move to EU countries.

• Journal of Dairy Science and Biotechnology
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• 제15권1호
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• pp.45-51
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• 1997

Korea dairy industry is placed on the very critical situation with the progression of free trade marketing system internationally. The sterilized milk or pasteurized extended shelf life milk can be considered as the international trade dairy products. Now all dairy foods would be selling in international market. To keep and improve our dairy foods market, the Korea dairy system improvement committee was inaugurated in 1995. This committee has done so many works to improve or dairy system such as the settlement of raw milk supply and demand, centralization of raw milk collection, ideal raw milk price system and dairy foods marketing structure, etc.

• 한국중재학회지:중재연구
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• 제14권2호
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• pp.3-46
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• 2004

To realize the spirit of the South-North Joint Declaration of June 15, 2000, the competent authorities of the South and the North of Korea have reached two Agreements to settle commercial disputes as well as to set up an arbitral organization called 'South-North Commercial Arbitration Commission'. The Commission is an institutional organization for settlement of commercial disputes arising from trade and investment between south and north Korea. Under the situation, it is becoming a problem of vital importance how to manage and control the Commission for prompt and effective settlement of south-north commercial disputes. While analyzing the above two Agreements for dispute-settlement mechanism, the author proposes desirable ideas and directions in connection with the Commission as follows: 1. First of all, the Commission should become a central common system for settlement of commercial disputes which meets the demand of capitalistic market economy. 2. The Authorities of south and north Korea should recognize that the availability of prompt, effective and economical means of disputes resolution such as arbitration and conciliation to be made by the Commission would promote the orderly growth and encouragement of south-north trade and investment. 3. The Korean Commercial Arbitration Board(KCAB) should be designated as the Arbitration Commission of South Korea because the KCAB is the only authorized institution in South Korea, statutorily empowered to settle any kind of commercial disputes at home and abroad.

• 무역상무연구
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• 제67권
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• pp.69-95
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• 2015

The main purpose of this study is to analyse what are the key financial innovations in the euro area electronic payment systems. TARGET2 is the RTGS-system provided through the Eurosystem. It is used for settling central bank operations, for large interbank transfers in euro and also for other euro-denominated transfers. The specific features of TARGET2 include processing in real time, settlement in central bank money and immediate finality. In addition, the SEPA is a payment-integration initiative of the European Union for simplification of bank transfers denominated in euro. In particular, the main innovations consist of the completion of the phased migration to the TARGET2 infrastructure, and the introduction of a single retail payment market in euro - the SEPA and its products, schemes and frameworks. As the study analyse, the key innovations consist of the TARGET2 introduction, SEPA establishment and migration towards the T2S system. These innovations will lead to a better understanding of the payment and settlement systems' behavior in stress situations and to enhance the stability of the euro area financial system. Moreover, the successful integration of the European payment and settlement infrastructures will further contribute to the integration of the European financial markets, as well as to their higher competitiveness.

• 재무관리연구
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• 제20권2호
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• pp.201-234
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• 2003

본고에서는 세계시장 중에서 주요 7 국가의 시장을 대상으로 시장의 이례현상의 하나인 주말 효과와 주중 일별수익률에 대한 연구를 결제청산과정으로 접근 분석하였다. 결제청산과정은 특정한 날의 일별수익률에 영향을 미칠 수 있고 또한 시장마다 서로 다른 결제청산체계는 세계 각 시장에서 특정한 날의 일별수익률에 서로 다르게 영향을 미칠 수 있다. 최근 이러한 결산청산체계 자체가 미국, 영국 프랑스 등 여러 주요시장에서 변화가 일어났다. 그리하여 본고에서는 세계 각 국가시장에서 주식의 결제청산과정체계의 변화 및 전환에 따라 주말효과 및 주중 일별수익률의 변화에 미치는 요인을 분석하였다. 그리고 또한 주말효과와 같은 시장효율성의 이례 현상에 대한 최근 연구에서 그전과 다른 기류에 대한 연구결과가 보고되기 시작하였다. 그리하여 그전의 자료와 최근의 10여 년간의 자료를 나누어 세계 각 주요시장의 주말효과에 대한 연구를 재검토 할 필요가 있었다. 본고에서 분석한 결과 1990년대 이전에는 각 시장마다 주말효과가 강하지만 최근 10여 년 동안의 자료를 분석한 결과 주말효과가 나타난 국가의 시장은 거의 없었다. 그리고 본고에서 결제청산과정체계의 변화 및 전환이 주말효과 및 주중 일별수익률의 미치는 영향을 분석한 결과 결제청산과정의 종류나 또는 각 시장 상황에 따라 정도의 차이는 있지만 대체적으로 결제청산과정의 변화가 특정한 날의 일별 수익률 패턴에 영향을 미치고 또한 주말효과의 수준의 변화의 일부분은 이러한 결제청산과정의 영향을 받았다고 볼 수 있었다.

• 한국조경학회지
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• 제28권1호
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• pp.118-128
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• 2000

Based upon the cases of two conventional market places of Seoul (Chungryangri and Hwanghakdong Market0, this study seeks, in mainly the insiders's view, to find out the micro meaning of conventional market places in the city. In-depth interviews for longer than six months were used to get life histories and daily life records from the merchants. From the result of the in-depth interviews, it was found that, for the insider's view, conventional markets are places where lower class people (or people who leave their farm lands for a city) easily settle down, as shoed in the two families' settlement history in the two conventional markets are very much similar to those in their home places. In conclusion, as represented in these two markets, conventional market places are not only the places that provides jobs to their merchants but also the places where the merchants' lives are continued, developed and reproduced. Based upon the both outsider's and insider's views, it is suggested that the recent modernization and redevelopment process to deal with conventional markets should change its direction and search for other solutions.

• KDI Journal of Economic Policy
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• 제37권2호
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• pp.64-97
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• 2015

This paper studies a series of capital market promotion policies Korea pursued over a 30-year period during its development era (1960s - 1980s). The purpose of this paper is twofold. The first purpose is to understand the policy approaches Korea took, and the second is to extract lessons that can benefit policymakers in the developing world, where capital market promotion is an important policy goal. There are two key features of Korea's capital market promotion policies. First, the government was actively involved, sometimes indirectly by giving tax incentives to encourage IPOs. However, in other times, it was directly involved by giving IPO orders and threatening those that did not comply. No stock exchange in a developed country has ever experienced such government involvement. Combined with rapid economic growth, this interventionist approached allowed the Korean stock market to experience phenomenal growth over a short period of time. Second, the capital market promotion policies had multiple objectives. One was to mobilize domestic capital for economic development. Another was to lower firms' debt-to-equity ratios. Most interestingly, however, the Korean government wanted to popularize stock ownership, thereby allowing ordinary Koreans to share in the fruits of economic growth.

• 무역학회지
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• 제46권4호
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• pp.113-130
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• 2021

This study aims to analyze the WTO-inconsistent aspects of the single rate presumption of the United States in establishing and imposing anti-dumping duties for non-market economy exporters. By examining the drafting history in the GATT/WTO negotiations and the practice of the single rate presumption for non-market economies by the United States from a comparative perspective, it critically addresses the inherent lack of pertinent disciplines under the framework of the WTO Anti-Dumping Agreement in establishing dumping margins for exporters of non-market economies. The WTO Dispute Settlement Body leaves open the possibility of allowing the investigating authority to consider multiple exporters and the exporting country as a single entity. However, the study argues that it is difficult in practice for the investigating authority to make a single-entity decision in a WTO-consistent manner. The study also finds an incompatibility in the notion between establishing dumping margins for 'individual' exporters and 'non-market economies.' A proper discipline for non-market economies under the multilateral anti-dumping norm needs to be reconsidered in the era of persistent trade conflicts between the United States and China.

• 한국지리정보학회지
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• 제18권2호
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• pp.105-119
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• 2015

포화상태인 국내 공간정보산업시장을 확장하기 위해서는 해외 진출이 필수적이나, 현재의 공간정보산업 해외 진출 방식은 시장 확장에 한계를 보이고 있다. 산업 간 융합을 통한 공간정보산업 해외 진출은 인접 ODA 재원을 활용한 해외 진출을 가능하게 하고 국제 경쟁력을 보유한 산업과의 융합을 통한 선진국 진출을 가능하게 할 수 있다는 점에서 시장 확장의 대안이 될 수 있다. 본 연구는 이러한 산업 간 융합 방안을 수립하기 위해 먼저 복수의 해외 국가에 대한 상세 현황 조사를 수행하여 개발도상국 및 선진국의 수요를 분석하였다. 수요 분석 결과 산업 간 융합을 위해서 는 융합 용이성, 표준에 기반한 정보의 보안성, 열악한 인프라 극복, 다양한 수요 대응체계, 유지 보수체계의 마련이 필요하다는 것을 밝히고 이러한 수요를 충족시키기 위한 기술적/방법론적/법제도적 융합 기반을 모색하였다.