• KDI Journal of Economic Policy
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• v.14 no.1
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• pp.37-60
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• 1992

This paper applies a Structural VAR approach to a 4 variable system in real GNP, M2, GNP deflator and nominal monthly earnings, disentangling 4 structural shocks, i.e., aggregate demand and supply shocks, wage pushes and various forms of regulations reinforced especially during stabilization process. Preliminary diagnostic tests confirm that the log level of each time series has at least one unit root, though the evidence is somewhat ambiguous for real GNP. One co-integration relationship is found among 4 variables, while no co-integration is found in a subsystem consisting of nomina) variables. The absence of co-integration among nominal variables strongly suggested that money is not neutral even in the long-run. The reduced form is estimated and the structural form is recovered using 6 additional identifying restrictions. Recovered structural shocks are able to capture main episodes of past 20 years, ranging from first and second oil shocks, to strong stabilization policy of early 80's and rapid wage hikes of late 80's. Overall responses of the economy to each structural shock are usually consistent with the standard Keynesian predictions, though some responses seem to be specific to Korean economic environment.

• Journal of the Economic Geographical Society of Korea
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• v.9 no.3
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• pp.379-395
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• 2006

The purpose of this study is to analyze the spatial characteristics of travel patterns and travel behaviors of transit users in the Metropolitan Seoul area. We apply the data mining techniques to explore the travel patterns of transit users from the T-money card database which has been produced over 10,000,000 transaction records per day. The database contains the information of locations and times of origin, transfer, and destination points for each transaction as well as the informations of transit modes taken via the transaction. We develop an data mining algorithm to explore traversal patterns from the enormous information. The algorithm determines the travel sequences of each passenger, and produce the volumes of support on each points (stops) of transportation networks in the Metropolitan Seoul area. In order to visualize the spatial patterns of travel demands for transit systems we apply GIS techniques, and attempt to investigate the spatial characteristics of travel patterns and travel demand. Subway stops located in the Gangnam area appear the highest peak for the travel origin and destination, while the CBD in the Gangbuk stands at the second position. Two or three sub-peaks appear at the densely populated residential areas developed as the high-rise apartment complex. Subway stations located along the Subway Line 2, especially from Guro to Samsung receive heavy travel demand (total support), while bus stops located at the CBD in the Gangbuk stands the highest travel demand by bus.

• Land and Housing Review
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• v.12 no.4
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• pp.41-59
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• 2021

This study reviews theoretical considerations and past studies about real estate prices, macroeconomic variables, and real estate policies. Monthly data from January 2003 to June 2021 are used, and a VEC model, the most widely used multivariate time series analysis method, is employed for analysis. Through the model, the effects of macroeconomic variables and real estate regulatory policies on real estate prices in Seoul are analyzed. Findings are summarized as follows. First, macroeconomic variables such as money supply and interest rates do not have a significant impact on Seoul's apartment prices. Due to the high demand for housing and insufficient supply, there is a demand for buying a home regardless of macroeconomic booms or recessions. Second, tax and financial regulatory policies have an initial impact on the rise in apartment prices in Seoul, and their influence diminishes over time. Third, anti-speculation zones are expected to decrease apartment prices through the suppression of demand. However, these zones cause a rise in apartment prices. This could be understood as a lock-in effect due to the strengthening of capital gains tax. Fourth, the price ceiling did not decrease apartment prices. These findings propose that, in Seoul, where demand is high and supply is insufficient, the supply of high-quality and sufficient housing should be prioritized over various regulations such as tax regulations, financial regulations, anti-speculation zones, and price caps. Moreover, the findings provide an implication that city-specific real estate policies should be implemented for Seoul rather than regulation-oriented approaches in public policy.

• Journal of Families and Better Life
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• v.19 no.3
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• pp.73-87
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• 2001

The purpose of this study is to confirm the productivity of housework empirically by analyzing the newspaper articles during the financial aid from the IMF. During this period, Korean Households expenses. And Korea government also wanted to share the burden of overcoming the currency crisis with households. Theoretically, Home economists has approved the productivity of housework as it increases the worth of wage by reducing cost of labor reproduction. So this article try to verify the productivity of housework by analyzing if there was public demand of housework as a means of reducing expenses during the IMF regime, based on newspaper articles. The major findings that are derived from the study are as follows : First, during the IMF regime, Households and housewives were described as an agent of overcoming economic crisis in newspaper articles. Second, households were required to substitute money expenses for housework to cut expenses. These results show that housework has worth as a productive labor and contribute to society and households as it increases the worth of wage and deceases the cost of living.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.12
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• pp.195-210
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• 2020

This study describes the structure of the capital markets for small- and medium-sized enterprises (SMEs) and startup companies in Korea, which is an emerging market that has experienced drastic changes. The overall capital market can be divided into private and public capital markets. In the private capital market, most of the demand for capital comes from non-listed private firms, including startups and SMEs. In the case of SMEs and startups, the KOSDAQ, the Korea New Exchange (KONEX), and primary collateralized bond obligations (P-CBOs) are part of the public capital market. SMEs and startups are generally incapable of raising sufficient capital owing to their low credit ratings, and they largely have limited access to primary markets to issue shares and borrow money. The Korean government has developed a systematic financial aid program to provide funds to these companies. The fund for SMEs has significantly contributed to the development of the venture capital market. Many Korean banks provide substantial lending to SMEs, but this lending is available only because of the Korean government's loan recovery guarantee. Furthermore, SMEs can issue corporate debt in the form of primary collateralized bond obligations through government guarantees, but such debt issuances have placed increasing pressure on public guarantee institutions.

• The Journal of Fisheries Business Administration
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• v.24 no.1
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• pp.29-44
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• 1993

The Purpose of this study is to consolidate the management status of Saggoson in the Choson period by literature research, and examined latest status by field investigation. During the Choson period, there were fish distributors such as Saggoson and Kakju. Saggoson took charge of fish distribution from the fishing ground to the land, and handed over the fish to Kakju who sold over them to the whole country: This distibution system of fish was started from and adapted to the yellow-corvenia fishery of Westhern Sea. There were two resons far this. One was that these fish were. caught much from vast fishing grounds and had a very strong demand, for which professional disributors were needed. The thor was that because fishermen had very limited capital, they had to supply the money for fish production from capitalists like Kakju whom they agreed to sell fish directly to. By this time, it was thought that the fish distibution system for the Westhern Sea fishery was determined by the background and tradition. Meanwile, Saggoson, which has been working far a long time in Westhern Sea, is placed in changing circumstances. That is, small scale fishery Saggoson deals with will be getting fewer, because the big scale reclamation projects in this area threatens the fishery's existence. Also, Saggoson, presently, might be forced to become more efficient in its distribution in the future. In this situation, the management status of a Sggoson in the past and present needs to be consolidated and investigated through this study.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.6
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• pp.109-116
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• 2020

The study examines the nexus between financial development and economic growth in India during Q1: 1996 to Q3: 2018. This study employs time-series data of real GDP and ratio of broad money to GDP as a proxy for economic and financial development, respectively. The data are obtained from RBI database on the Indian economy. All variables are seasonally adjusted using X12-arima technique and expressed in natural logarithm form. Non-linear Autoregressive Distributed Lag (NARDL) bound test has been used to check for cointegrating relationship of these two variables. Empirical findings suggest that, unlike in the short run, in the long run financial development does impact economic growth positively. Further, a symmetric effect of positive and negative components of financial development is found for the Indian economy, whereas the effect of control variable like exchange rate and trade openness is in consonance with common economic intuition. Exchange rate is in consonance with intuitive economic logic that a fall in exchange rate makes exports cheaper and increases the quantity of export, which improves the balance of payment and leads to a rise in aggregate demand, hence improves economic growth. This paper contributes to the existing literature on India by breaking down financial indicator into positive and negative components to examine the finance-growth relationship.

• Transactions of Materials Processing
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• v.8 no.1
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• pp.65-77
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• 1999

In recent years, the quality requirements from the customers of hot rolled steel strip have been steadily increasing in diversity and strictness. To meet these quality requirements as well as to improve productivity, steel mills have been doing their efforts for developing high performance Automatic Gauge Control (AGC) system. However, it is very time consuming and also needs a lot of money to develop the new technologies of AGC in actual mill. So, there has been a demand for developing the Dynamic Hot Rolling Simulator since late 80's. It is a kind of software packages and can analyze the dynamic behaviors of hot finishing rolling process without laborious experiments in actual mill. It can also be used as a designing tool of Automatic Gauge Controller. In this work, the Dynamic Hot Rolling Simulator which is applicable to 6 sands hot strip mill rolling was developed. The MATLAB with SIMLINK was used as a software developer for making the main part of simulator because it is very powerful tool for modeling, integrating, controller design, and simulation. In this paper, the structures and the mathematical models of the simulator were briefly described and the results of simulation on the transient phenomena of hot rolling process with actual mill data were also presented.

• Journal of Korean Institute of Industrial Engineers
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• v.20 no.4
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• pp.51-63
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• 1994

Many themes have been studied for FMS problems. But most researches have focused on specific themes; Machine selection, Loading, Routing, Machine layout, etc. So many decision makers who want to introduce FMS to his factory, have many problems, because they do not know either what size of FMS should be introduced or what amount of money should be invested. The objective of this research is to help the decision makers who want to introduce FMS. This research consists of three major part, first, Machine selection, second, Loading, and third, Machine Layout. In the first part of the research, machines are selected with minimum cost satisfying the given demand of each part. In the second part, each operations with its required tools are allocated to those machines. In the third part the locations of each selected machines are determined. And dissimilarity coefficients between each pair of machines are calculated as the measure of distance. With above three steps, we have selected machines, allocated operations to those machines, and the layout configuration of those machines. And for each three steps, Mixed Integer Programming models are formulated. In order to solve the large problems and reduce the computer execution time, three heuristic algorithms are developed for the three mixed integer programming models.

• Journal of the Korean housing association
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• v.24 no.4
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• pp.39-52
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• 2013

This study examined the key factors that significantly improved the demand of multi-habitation. It determined the factors at the macroscopic level (or push factors) and the microscopic level (or pull factors). Focusing on a microscopic viewpoint, this study looked at the process of settlement through investigating 78 MH residents in the Seoul metropolitan area. The survey included the questions, such as who they are, how they prepared for moving, and how much they enjoyed their rural lives. In addition, any differences in this process were analyzed depending on respondents' characteristics. Major findings are as follows: First, general macro-level circumstances seemed supportive for the MH lifestyles. Second, six keywords were determined to represent the recent MH trends. They are "semi-sedentism, clustering, young people, female, money, and policy". Third, the distances between the original towns for native residents and new second-home towns for MH residents affected the interactions among them. However, these two groups had better relationships when the second-home towns were apart from the original towns. I then considered the need of a buffer zone between the two residential areas for MH residents. The conceptual difference between MH residents (i.e., semi-sedentism) and original rural residents (i.e., sedentism) might require certain types of buffer zones to continue good relationships among them.